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Volume 17 • issue 12 - December 2013 Words From our President

Durango Area Assn. of REALTORS

While I was in San Francisco last month attending the National Association of REALTORS® Conference, I choose to go to a forum that caught my attention: Pocket Listings: Legal, Ethical & Industry Considerations: Risk Management & License Law. I thought to myself, wow we send out e-blast often in search of pocket listings, right? So what is so wrong? While not a new concept off-market or “pocket” listings are becoming more common in the current short-inventory market. It seems the current wave of pocket listings is different from previous times, however, in that it accompanies the age of internet & social networking. The prevalence of pocket listings is seen as undermining the credibility of agents since those properties are not marketed to the widest group of potential buyers. The California Association of REALTORS® has created a legal and informational campaign with webinars, Q&As, and presentations for its members addressing what their fiduciary responsibilities are when marking pocket listings. Primarily, agents are required to inform sellers of the advantages of marketing on the MLS, including the exposure of properties to a greater pool of buyers & the potential for higher sales prices than off-MLS listings. The California Association has also added new disclosures within their residential standard listing contracts, which outlines to the seller the negative effects of listing off-MLS. These disclosures must be signed by the broker or manager (not just the listing agent) as well as the seller. A study by MLSListings Inc. found that pocket listings as a percentage of total home sales in some Northern California markets increased from 15% in 2012 to 26% during the first quarter of 2013. Here in Durango we are sometimes a little secluded, I was shocked to see how serious of an issue this has become in some regions. One of my focuses this year is to promote REALTOR® value to the community, it has been referenced that this practice puts REALTORS® at risk of destroying the publics’ trust. “Pocket Listings” are legal, however the practice raises a number of legal, ethical & practical red flags that must be considered & addressed. Let us remember the MLS offers compensation, so marketing without a written contract may be costly to the sellers’ agent as well as the buyer’s agent. If a seller requesting to market off-MLS, & more often a Durango seller may request to stay out of MLS for privacy purposes, it is advised that the seller understands what is not offered by withholding their property from MLS, & to make sure the listing agent has specific listing instructions written in the listing contract. Another consideration is statistics; listings marketed out of MLS then entered on the sold date will put statistics at risk. MLS’s data & the ability to generate accurate comparable values of homes weaken as well as the agent’s value. Next time we ask for a pocket listing, it might be a good idea to make sure there is a signed listing agreement in place. Kelly is the President of You can link below to CARs page on Pocket Listings to the consumer. The Durango Area Assn. of REALTORS® http://www.coloradorealtors.com/?s=pocket+listings Kelly Kniffin

You can contact her at 970-749-3867




The Durango Area Association of Realtors®

B roker F o rum

December 10th 10am - 12pm at the DAAR office

 Education - Top designations requested from membership.

Quarterly Meetings - Do members attend, find value, any suggestions for presenters/speakers educational or awareness subjects?

RPR - Are members using? do we want training? Affiliate Memberships - Bring suggestions for possible new affiliates - minimum 5 vendors your office would recommend. Discussion on Affiliate networking event. Agent Mentoring - Would you and your agents find value in learning from members (this is an opportunity to network, possibly expose new members to leadership)

Review Paragon MLS required Fields (CREN feedback request) - Are there any items that should be removed or added? Leadership - Bring names of members you would recommend for leadership/board position. Open Discussion - Current news and events. Broker comments, wants and needs.

This is IMPORTANT. Your Business is OUR Business, Help us Help YOU!

RSVP to Amanda at amanda@durangorealtor.com or 970.247.9604


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MEMBER FDIC

YOUR DURANGO MORTGAGE TEAM: ANDY ROACH, SUZIE MORSE & SHERYL EALUM


DAAR CALENDAR OF EVENTS December 2013 Sunday

Dec 1

December 2013 Su 1 8 15 22 29

Monday

2

Tuesday

3

Wednesday

4

Mo 2 9 16 23 30

Tu 3 10 17 24 31

We 4 11 18 25

Th 5 12 19 26

January 2014 Fr 6 13 20 27

Thursday

5

Dec 8 - 14

15

16

11

10:00am 12:00pm Broker Forum

6 13 20 27

7 14 21 28

We 1 8 15 22 29

Th 2 9 16 23 30

Fr 3 10 17 24 31

Sa 4 11 18 25

Saturday

7

12

13

14

19

20

21

26

27

28

2

3

4

3:00pm 5:00pm BOD Meeting (DAAR)

17

18

23

24

25

Dec 15 - 21 Dec 22 - 28

Christmas Eve (United 12:00pm 5:00pm Office Closed 1/2 Day

29 Dec 29 - Jan 4

5 12 19 26

9:00am 10:00am B/A/F Committee (DAAR)

22

staff

Tu

8:30am 10:30am Executive Committee (DAAR)

10 9:00am 10:00am B/A/F Committee (DAAR)

Mo

Friday

Dec 1 - 7

9

Su

6

Newsletter Published

8

Sa 7 14 21 28

30

31

Christmas Day (United Office Closed

Jan 1, 14 Office Closed New Year's Eve (United

1

12/5/2013 9:49 AM

The 2013-2014 Durango Area Association of REALTORS速 Board of Directors: President / Kelly Kniffin / 749-3867 / Kelly@homesdurangoco.com President-Elect / Jim Wotkyns / 375-7005 / jim@jimwotkyns.com Past President / Denise Storm / 759-9819 / denise@denisestorm.com Vice President / Jerome Bleger / 759-1658 / jerome@yesdurango.com Treasurer / Cathy Craig / 749-3986 / ccraig@durangomountain.com Director / Gabi Bergstrom / 946-7522 / gabi@frontier.net Director / Linda Buzzalini / 259-6680 / lindabuzz@frontier.net Director / Nicole Perino / 259-6680 / perinodurango@gmail.com CAR Director/ Jarrod Nixon / 769-0774/ jnixon@yesdurango.com

Association Office Staff Executive Officer/ Amanda Erickson/ 247-9604/ amanda@durangorealtor.com Member Services/ Jasmyn Fouts/ 247-9604/ jasmyn@durangorealtor.com MLS & Communications/ Jo Ann Johnston/ 247-9604/ joann@durangorealtor.com


What’s Happening With The Membership? Welcome New Members Justin Grimwood - The Wells Group

Sheena Varner - Durango Mountain Realty

Welcome MLS Only John Nisbet - John D. Nisbet Independant Broker

Transfers AGENT NAME: Sandy Cooper

TRANSFERRING FROM: Summit Ridge Realty

TRANSFERRING TO: Keller Williams Realty SW

Goodbye & Good Luck! Greg Spitler - Westco Real Estate Morgan Ingram - MSI Appraisals Michelle Syvain - 4 Corner Realty

Mortgages made easy. You’ve helped them find the perfect house. Now help them make it their home with a mortgage from Community Banks of Colorado. With 50 convenient locations in Colorado and the ability to finance unique properties, Community Banks of Colorado has a common sense approach to clients’ mortgage needs. To help find the best mortgage solution for your client contact Margie Sittner of the Durango Banking Center at 970-259-0212 or go to cobnks.com/mortgage.


Reverse Mortgage for Purchase:

You owe it to your senior clients to know the basics. Questions about reverse mortgages? Call Cobalt Mortgage and get all the facts.

George Johnson NMLS-418631 Reverse Mortgage Loan Originator 970.828.2408

george.johnson@cobaltmortgage.com

Cobalt Mortgage, Inc. NMLS-35653 Regulated by the Division of Real Estate. Š 2013 Cobalt Mortgage, Inc., 11255 Kirkland Way, Suite 100, Kirkland, WA 98033. Toll Free: (877) 220-4663; Fax: (425) 605-3199. NMLS Unique Identifier: 35653; Arizona Mortgage Banker License #0909801; Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act.; Regulated by the Colorado Division of Real Estate; Nevada Mortgage Banker #3723; Nevada Mortgage Broker #3725; Oregon Mortgage Lender License #ML-2991; Washington Consumer Loan License #520-CL-48866. George R. Johnson, NMLS-418631. Ticket #2013082710001436


REMINDER!!!! REMINDER!!!!

The "Flood Insurance Could Sink Your Sales" Call for Action is still live on the NARSink Website, but time The "Flood Insurance Could Your Sales" Callisfor running out.live on the NAR Website, but time is Action is still

running out.

The Problem: Congress provided a 5-year reauthorization of the National Flood Insurance Program (NFIP), but severe implementation The Problem: Congress provided a 5-year of the problems threaten to undermine real estate reauthorization transactions where flood insurance is required to obtain a mortgage. National Flood Insurance Program (NFIP), but severe implementation

problems threaten to undermine real estate transactions where flood  New rate to structures caused serious confusion and insurance is NFIP required obtain a have mortgage. 

hardship for property owners. The Federal Emergency Management Agency (FEMA) continues New NFIP rate structures have caused serious confusion and to delay and miss deadlines. hardship forrequired propertytransition owners. to true risk rates has plagued The legally consumers increases in rates beyond what anyone The Federalwith Emergency Management Agency (FEMA) continues imagined possible. to delay and miss deadlines.

The legally required transition to true risk rates has plagued The Solution: A four-year time-out. Congress has legislation consumers with increases in rates beyond what anyonein the House, H.R. 3370 and Senate, S. 1610, to delay changes to the NFIP. imagined possible. 

These bills would:

The Solution: A defer four-year legislation prudently rate time-out. increases Congress until FEMAhas completes thein the House, affordability H.R. 3370 and Senate, S. 1610, to delay changes to the NFIP. study mandated by law  bills create a system for targeted rate relief These would: 

establish an office of the Advocate for flood insurance rate and mapping concerns.

prudently defer rate increases until FEMA completes the study mandated law Pleaseaffordability Take Action today and tell by your Member of Congress and  create a system for targeted rate relief Senators that NAR supports the “Homeowner Flood Insurance  establish an office of the Advocate for flood insurance rate and Affordability Act.” mapping concerns. 

https://realtorparty.realtoractioncenter.com/site/Advocacy;jsessionid=CB8BFFC02318A67B7C2D8769AF39 BA22.app367b?cmd=display&page=UserAction&id=2949&utm_source=rac_site&utm_medium=banner&utm_ Please Take Action today and tell your Member of Congress and campaign=nfip2013


Important Updates and Reminders! DAAR OFFICE CLOSURES

DAAR Staff will be available Christmas Eve from 8 - 12. The office will be closed on Christmas Day, Wed. Dec. 25th For the New Year Holidays the DAAR Office will be closed Dec. 31st and Jan. 1st. The Staff at DAAR would like to wish everyone a safe and happy holiday!

Amanda, Jasmyn & Jo Ann

2014 Annual Dues Alert It’s almost annual dues renewal time! We will be billing out annual dues on January 2, 2014, which will be due by January 31, 2014. Below is an outline of what your fees will consist of. If you have any questions please feel free to contact us. As always, we appreciate your continued support of our organization. DAAR leadership and staff are committed to finding new, useful ways of assisting you in your business, and it allows US to continue providing opportunities that support and benefit your career as a REALTOR®. 2014 Annual Dues Breakdown: DAAR - Local Annual Dues: $190.00 NAR – National Annual Dues: $120.00 RPAC – Voluntary Contribution: $25.00 Total $535.00

CAR – State Annual Dues: $145.00 NAR Public Awareness Assessment: $35.00 CARHOF – Voluntary Contribution: $20.00

DEDUCTIBILITY OF DUES FOR TAX INFORMATION For the 2014 dues billing statements the non-deductible dues breakout is as follows, $25.00 RPAC voluntary dues, $20.40 of CAR dues and $55.00 of NAR dues are non-deductible. Payments to the Durango Area Association are not deductible as charitable contributions; however, such payments may be deductible as ordinary business expenses in accordance with IRS rules and regulations. The $75.40 of your year 2014 dues and $25.00 for RPAC voluntary dues is not deductible as a business expense because this portion is used for lobbying or the support of candidates at the local, state and/or national levels. CAR estimates that $5.00 in CAR dues will be used to reach the RPAC goal set by NAR. A portion of your RPAC voluntary fair share amount may be used to support federal candidates and will be charged against your limits under 2 U.S.C. 441a. No later than April 1st 2014, you may check ColoradoREALTORS.com to determine the portion. After CAR reaches its RPAC goal it may elect to retain your entire contribution for use in supporting state and local candidates and issues. You may contribute more or less than the suggested RPAC amount. You may refuse to contribute the $25.00 RPAC voluntary fair share amount without reprisal and the National Association of REALTORS® or any of its state associations or local boards will not favor or disfavor any member because of the amount contributed. Until the state PAC reaches its RPAC goal, 30% is sent to National RPAC to support federal candidates and is charged against your limits under 2 U.S.C. 441a; after the state PAC reaches its RPAC goal it may elect to retain your entire contribution for use in supporting state and local candidates.


FACT SHEET

Health Insurance and the Affordable Care Act: What REALTORS® Can Do Today In the uncertain landscape in the world of health insurance reform, REALTORS® have turned to their national association asking where to begin and how to search for what meets their individual or small business insurance needs. And, member confusion grows, especially since the Affordable Care Act (ACA) makes insurance purchases mandatory in 2014. To answer these calls, NAR has developed a plan to help and guide members. 1. Topic Page on REALTOR.org a. A new Topic Page for everything health insurance related has been created on REALTOR.org. b. The page contains helpful articles, infographics, and news related to the ever-changing insurance situation. c. Members can also find links to the ACA webpage, and to REALTORS® Insurance Marketplace, a new offering from the REALTOR Benefits® Program. The Marketplace offers NAR members health insurance solutions, including options that meet the mandates of the Affordable Care Act. It is powered by NAR’s long-term and trusted partner, SASid, Inc. (Smart and Simple insurance development). There is also a link to register for the webinar. d. To see the Topic Page visit, http://www.realtor.org/topics/health-insurance 2. Health Insurance Webinar a. A live webinar entitled “Health Insurance and the Affordable Care Act: What REALTORS® Can Do Today” will be held on December 12, 2013 at 11:00am CST. This webinar is open to all NAR members. b. The registration link can be found on the health insurance topic page (URL above) or visit https://realtors.webex.com/realtors/onstage/g.php?d=921130646&t=a. c. NAR’s REALTOR® Magazine, Stacey Moncrieff, will be hosting the webinar, and moderators will include: i. Marcia Salkin, NAR Managing Director of Public Policy ii. Kristin Maurelia, NAR Managing Director of Strategic Alliances and NAR’s REALTOR Benefits® Program iii. Shannon Kennedy, President of SASid, NAR’s REALTOR Benefits® Program Partner and Administrator for NAR’s REALTORS® Insurance Marketplace d. Among the questions that will be answered: i. Must everyone have insurance? Who is eligible for one of the law’s exceptions? ii. What's the open-enrollment deadline, and what happens if you miss it? iii. What levels of coverage meet the law? iv. What’s the latest on efforts by the federal government to address its widely reported problems with its exchange? v. With efforts to delay cancellations, what should you do if you've received a cancellation notice on your current policy? vi. Who qualifies for a federal tax credit, and do you have to buy on the state exchange to qualify? vii. How does the private exchange for REALTORS® work and what benefits does it offer? How does it work in relation to the public/government exchange? e. After the live webcast an archived version will be linked to on the health insurance topic page. 3. Additional information will be added to the health insurance topic page as it becomes available. Marketing Channels An association-wide, integrated plan to reach all members via free channels (including Weekly Report, Social Media, REALTOR.org, INS, newsletters, etc.) has been developed. Program Timeline  The health insurance topic page went live on November 19, 2013.  First point of contact was in the INS newsletter on November 20, 2013.  Efforts to reach members for the webinar will continue through December 11, 2013.  Efforts to update the health insurance topic page will be ongoing as content is developed and made available.

Contact Information:

Jackie D. Palmer Marketing Manager, M&BD Marketing & Communications 312.329.8313 jpalmer@realtors.org

Anne Cadigan Account Manager, Strategic Alliances REALTOR Benefits® Program 312.329.8543 acadigan@realtors.org


December Birthdays

Southwest Mortgage Loans, Inc.

Lisa M. Reed President

1099 Main Avenue. Suite 213 • Durango, CO. 81301 970-382-9800 • Fax 970-382-9808 E-mail: lisar@southwest-mortgage.com

R E S I D E N T I A L M O R T GAGE OF COLORADO

Colorado Capital Bank mortgage Mike & Judy Malone

A DIVISION OF UNIVERSAL LENDING CORPORATION

970.375.2265 970.749.1104 (Judy) Mike and Judy Malone 970.749.1101 (2265) (Mike) 970.375.BANK

1201 Main Avenue, Suite 101 1201 Main Avenue, Suite101 Durango, CO 81301 www.applywithjudy.com FDIC

EQUAL HOUSING

LENDER

Michael K. Russell, PE Principal

934 Main Avenue, Unit C Durango, CO 81301 ph: 970.385.4546 fx: 970.385.4502 e: michael@russellpe.com

www.russellpe.com

Bonnie Unis ~ 12/3 Terry Hutchison ~ 12/3 John Gillam ~ 12/8 Aaron Miller ~ 12/11 Katherine Sumrall ~ 12/13 Coby Wiegert ~ 12/15 Wade Slingerland ~ 12/17 Larry Ashcraft ~ 12/17 Charlie Cole ~ 12/18 Lisa Govreau ~ 12/19 Richard Franklin ~ 12/19 Rickie Londe-Swink ~ 12/19 Anne-Britt Ostlund ~ 12/20 Fred Zimmerman ~ 12/20 Maria Carsburg ~ 12/25 Joan Hanna ~ 12/27 Marilyn Lang ~ 12/27 Dave Hardy ~ 12/30 Martin Farley ~ 12/30

     Solar is decreasing      

 fourcore.org


honoring community | working together | giving back

REALTORS® Do MORE Than Just Sell Houses!

The members of The Durango Area Association of REALTORS are a remarkable group of professionals that strive to help our community as much as they can every year. Annual charity events such as our HELPING HANDS GOLF TOURNAMENT are put together and hosted for the sole purpose of helping those most in need. Just listen to what some of Durango’s community organizations have to say: “On behalf of The Women’s Health Coalition, I want to thank you for your donation. This will help those men and women who are undergoing cancer treatment in the local communities. We appreciate that you have selected us for this donation!” Carol McGuire, President of The Women’s Health Coalition “Thank you so very much for your recent donation to The Durango Adult Education Center’s Del Alma prgram. We help people who are in most need and yet motivated to get the education they are looking for. Your donation allows us to continue providing these effective services to the Durango community” Teresa Malone, Executive Director of Durango Adult Education Center “We were pleased to receive your donation on October 21, 2013. to The Boys and Girls Club of La Plata County. Your interest and support has helped to further our mission of helping youth to realize their full potential as caring, productive and responsible citizens.” Vaughn Morris, CEO of Boys & Girls Club “What a privilege it is to be one of the recipients of DAAR’s 2013 grants. THANK YOU! We are very grateful for your support of the Durango community through your generous support to Durango Pregnancy Center. Thank you for understanding the nature of non-profits and how they make a difference in communities such as ours! None of us could do our work without supportive organizations such as DAAR. As we move towards becoming a partial medical facility this grant will be a significant contribution. Thank you again..” Valerie J. Mangrum, Executive Director of Durango Pregnancy Center “Your support helps displaced children, women, and men in our community as they work to rebuild their lives. Our programs continue to be successful because of compassionate and caring community members like your organization.” Sarada Leavenworth, Director of Southwest Safehouse and Volunteers of America Durango Assn. of REALTORS® | 125 E. 32nd St. Durango CO. 81301 | 970.247.9604


December2013newsletter