Michigan Association of REALTORS®

Mortgage Cancellation Tax Relief Act Signed into Law

The Mortgage Cancellation Tax Relief Act – legislation to relieve homeowners of tax burdens after a foreclosure –was signed into law on December 20th by President Bush. The passage of this legislation comes after a series of meetings between MAR’s Federal Political Coordinator (FPC) members and Michigan’s Congressional delegation. The FPC’s made support of the Mortgage Cancellation Relief Act the center piece of their Hill visits during the 2007 NAR Midyear Meetings. Since that time, MAR and NAR continued to work very closely with Senator Stabenow and are sincerely appreciative of her efforst to get this legislation passed. This important legislation is one more step in helping homeowners through the fallout of the sub-prime lending boom. To view the National Association of REALTORS® news release and statement from 2008 NAR President Richard Gaylord on yet another win for home ownership, please visit http://www.realtor.org.

For more information on the provisions of the act, please visit http://www.realtor.org.

The 2008 Achieve Conference was a success as once again MAR provided its members with industry-leading speakers, tools and tips of the trade to begin the year on the right foot. The event was held on January 17-18 at the Amway Grand Plaza in Grand Rapids, and was well attended as REALTOR® leaders from around the state came together for this year’s first leadership and networking opportunity.

The event also saw the installation of MAR’s 2008 President, Jeff Young and the MAR board of directors.

MAR strives to keep up with its members' communications needs and is pleased to announce the MAR Facebook Group created exclusively for MAR members. Now, MAR members that have a Facebook account can network with each other and keep in touch with the industry. If you do not already have a Facebook account, you can sign up for your free account at www.facebook.com and request to be added to the MAR Group.

With the help of McClelland & Anderson, we are taking the most commonly asked questions from our legal hotline and putting them in e-news. We will be featuring a different question each issue.

QUESTION: I am the REALTOR® salesperson who has hired a non-licensed assistant. I scheduled an open house but I will not be able to attend it due to a family emergency. Can I send my assistant in my place?

ANSWER: NO. The Michigan Department of Labor and Economic Growth (“DLEG”) has put together a fairly specific list as to what unlicensed assistants can and cannot do. This list can be found at the Web site Michigan.gov/realestate in the “frequently asked questions” section. DLEG has stated that an unlicensed assistant may not independently hold open houses or staff booths at home shows or fairs.

When Grand Rapids REALTOR® Pat Vredevoogd Combs was installed as the NAR 2007 President in New Orleans, she used the funds that would typically go to attendee favors to support a group of local musicians by providing them with much needed new instruments. Just recently, one of the recipients used his new saxophone to play the National Anthem at the Superdome on the nationally televised football game between LSU and Ohio State. Since these funds are dues supported, MAR members should also feel good knowing these musicians are once again playing their instruments.

Don't miss the largest second home expo in the world, SIMA 08 International Real Estate Exhibition in Madrid, Spain. Over 160,000 visitors and 800 exhibitors attended the SIMA expo last year and the number grows year after year. SIMA's 2007 attendance included 21,000 real estate professionals from more than 50 countries. Tailored to the international attendee, SIMA features the International Professional Program. This track of educational programming is geared to international professionals with a specific focus towards the REALTOR®. Most presentations are taught in English but those taught in Spanish have simultaneous English translation.

SIMA will take place April 8-12 in Madrid, Spain. Highlighting the US market, economist John Tuccillo's presentation the Current Advantages for Investments in the USA strongly emphasizes why the US is a strong real estate market. Additionally, the International Business Center features meeting space and country-specific networking hours for the purpose of networking and doing business with professionals from around the world. What a great place to network and showcase your properties!

For more information and registration visit SIMA or call Elena Carrillo at 312-329-8272.

When using Realtor.com for your home searches and you want to include manufactured/mobil homes in your search, you must check Manufactured/mobil homes box. If you do not check this box in your search, you will not get any of these properties in your search results.