January 2013 - Caldwell Board of REALTORS

CBOR
Volume 15
Issue 1
January 2013
CALDWELL BOARD OF REALTORS
Canyon County, Idaho
Member of the National Assoc
Canyon County, Idaho
Member of the National Association of Realtors and IAR
CALDWELL BOARD OF REALTORS
2922 E CLEVELAND BLVD STE 301
CALDWELL ID 83605
PHONE: 208.459.3301
FAX: 1.208.498.9372
E-MAIL: caldwellboardofrealtors@fiberpipe.net
President’s Message: Dear Membership,
2013 Executive Board Officers

Sheri Arkoosh – President:
saarkoosh@gmail.com
965.5141

Maureen Jackson – VP:
maureenj@agatecreek.com
880.7430

Laurie Gibson– Secretary:
laurieg@windermere.com
631.2466

Carla Berg – Treasurer:
cjberg6@gmail.com
573.4236

Trula Carrow – 2013 Director:
aaawindermere@gmail.com
850.2009

Nikki Trautman - 2014 Director:
nikkitraut@aol.com 440.4423

Rob Jerome – 2015 Director:
rjerome11@gmail.com
517.1003

Patti Zatica – 2013 State
Director: txzatica@telecircuit.net
573.7091

Randy Jensen - President:
Njen54@aol.com 870.5689

Byron Blackburn – MLS Director:
byronblackburn@hotmail.com
283.9030

Jon Brougher – Affiliate Director:
jbrougher@titleonecorp.com
860.5857
It’s Snowing Again….but there are Robins in my yard. I love Living in Idaho, and enjoying each distinct
season.
From the National Association of Realtors
Plenty of Bright Spots in Housing, But Threats Remain
The housing market is showing plenty of strength, from sales and price increases to a decrease in
foreclosures. “There are almost no housing market indicators showing weakness,” says Mark J. Perry,
a professor of economics at the University of Michigan-Flint.
Among the recent bright spots:




Existing-home sales jumped more than 9 percent in 2012, the highest level in five years.
New-home construction reached a 54-month high in December 2012.
The delinquency and foreclosure rate is at its lowest level in four years.
A home remodeling index reached 55 in the first quarter of the 2012, the highest reading
since 2004 (readings above 50 indicate a growth in remodeling activity).
Still, the housing market is about 52 percent as strong as it was prior to the 2008 housing crash,
according to one housing index by Trulia, which factored in data from the National Association of
REALTORS®, U.S. Census construction, and Lender Processing Services.
The housing market faces challenges, such as the number of home owners still facing negative equity,
inventories of for-sale homes remaining constrained, and mortgage credit remaining tight and
preventing some buyers from qualifying for a loan.
“At this pace, ‘normal’ is still two or three years away,” says Jed Kolko, Trulia chief economist.
Reported by the Daily Real Estate News
We as Realtors know the Market may never get back to the level it was prior to 2008, but we are
seeing a strong movement in the market here in Southwest Idaho.
February 21, is our “We Love Our Affiliate Luncheon” and we are holding the luncheon at the
Golden Dragon Restaurant. A new format for the luncheon is going to be “Net Working”, we are
going to visit and mingle, bring your business cards this is a wonderful opportunity to create new
business together.
Respectfully,
Sheri Arkoosh
2013 President Caldwell Board of Realtor's
Accredited Short Sale Designation: ASD
Top Producer
16070 North Idaho Center Blvd.
Nampa, Idaho 83687
Cell: 208-965-5141
Direct: 208-287-8936
saarkoosh@gmail.com
1
14
21
21
February
WCR Breakfast – Nampa Civic Center
1130-1230 Broker’s Forum – Pioneer Title
8:30am CBOR Executive Board Meeting
11:30-1pmWe Love Our Affiliates Luncheon
1
14
21
21
March
WCR Breakfast – Nampa Civic Center
1130-1230 Broker’s Forum – Pioneer Title
8:30am CBOR Executive Board Meeting
11:30-1pmCBOR Full Board Luncheon –Golden Dragon
5
11
18
18
April
WCR Breakfast-Nampa Civic Center
1130-1230 Broker’s Forum – Pioneer Title
8:30am CBOR Executive Board Meeting
11:30-1 CBOR Full Board Luncheon – Golden Dragon
CBOR: Who has joined?
New Members: None
New Affiliates: None
New Offices: None
CBOR FEBRUARY LUNCHEON
DATE: 02/21/2013
TIME: 11:30 – 1:00
PLACE: The Golden Dragon – Caldwell
211 S 21st Ave
COST: $6.95 plus personal tip
BROKERS FORUM
February 10, 2013 11:30 – 12:30
Pioneer Title – Caldwell
Contact Cindy OldenKamp for additional information at
880-3094 or email cindyO@windermere.com
AFFILIATE MEMBERS
Academy Mortgage
455-8477
Alliance Title & Escrow
465-6600
ALS Land Surveying and Planning 585-5858
Caldwell Chamber of Commerce 459-7493
Caldwell Transportation Co.
459-6612
First Mortgage Co. of Idaho
475-5300
Future Techs Pure Water
459-9459
Homestreet Bank
599-4095
Housemasters of Idaho
465-5556
Idaho Central Credit Union
846-7000
Idaho Housing & Finance Assoc. 331-4789
Idaho Independent Bank
454-3731
Idaho Press Tribune
465-8156
Intermountain Community Bank 454-2800
Key Bank of Caldwell
459-6315
Midtowne Insurance
459-9422
Paul’s Market
454-0711
Pioneer Title
459-1651
Send Out Cards
402-4624
TitleOne Corp.
475-1155
US Bank Home Mortgage
442-5001
Washington Federal Savings
459-4671
Wells Fargo Home Mortgage
463-7153
Drawings from December Lunch
RPAC: Randy Jensen, gave back, Al won it
WCR free breakfast: Trula Carrow
Sponsor Door Prizes Randy Jensen
Jackpot winner: David Summers-absent
$50.00 jackpot next month in February 2013
Bingo Game: John Obendorf and Wayne DeWitt
Beautiful Winter!!!
ATTENTION
CBOR COMMITTEE REPORTS:
Business Resource Meeting @ Nampa Civic Center Canyon
It's Your Board Get Involved!
WE WANTYOU!
Please sign up for our 2013 committee
Do you want to get more involved?
Do you wonder what exactly goes on at the Caldwell
Board?
Are you looking for more ways to connect with other
members and network?
Did you answer yes to any of those questions?
Well it's time to get involved and share your voice.
Every year the Board seeks new volunteers and invites
members to “get involved” and join committees.
These active members volunteer their time and
expertise to help strengthen the association's events,
services and initiatives.
Please join them!
Attached is the 2013 Committee Signup sheet.
Please take a moment to look it over and let me know
which committee(s) you would like to be a part of.
Thanks!
*******************************************
CBOR Website:
Website address is
www.caldwellboardofrealtors.com
This is an ongoing project with things added all
the time. Be sure to check it out. It’s very user
friendly!
Dues Reminder
Just a reminder that your 2013 Realtor dues are
due by December 31st. If you pay them January
1, 2013 or later, you will be assessed a $25 late
fee. If your dues are not paid by January 31,
2013, your membership will be terminated until
they are paid.
CALDWELL BOARD OF REALTORS
received a plaque from Idaho Association
of Realtors for 140% support this year by
our members. If you want to know why to
Support RPAC – just check out their
website: http://www.idahorpac.com
County Women's Council of Realtors will have their monthly
Business Resource Meeting and Breakfast on Friday,
February 8th, 2013 at the Nampa Civic Center. Breakfast is
served at 8am and the meeting starts at 8:30am. Dave Clark,
noted tech guru, will be speaking on the latest technology and
ways to harness tech power to improve your business. Now is
a great time to join WCR, sign up at the meeting, and get your
breakfast free! Please contact Kathryn Lyon-Pierson at
kpierson@HouseMaster.com with your RSVP and any
questions.
Lena Pierson Canyon County WCR Secretary 2012-2013
www.swidaho.housemaster.com
Visit Us on Facebook!
Continuing Education
Idaho's CE requirement:
Renew on active status - 16 elective hours plus one Idaho core
course
Renew on inactive status - none
Inactive to active status (after first renewal period) - 16 elective
hours plus one Idaho core course
*Must be completed before reactivating the license
IREC reviews all license renewals and reactivations for compliance
with the CE requirements. If you don't have the required CE hours
posted to your record, you will receive an audit letter. Keep your
course completion certificates in a safe place!
Idaho's Core requirement:
All Idaho licensees must take a minimum of one Idaho Commission
core course each renewal period. Other state's core courses will not
count for this requirement. IREC strongly encourages taking the
Idaho core every year to keep up with legislative changes and current
case law. The second core course in a renewal period counts for CE
elective credit.
* "Cracking the Code" is NOT the Commission core course!
EDUCATION OPPORTUNITIES
USEFUL INFORMATION:
InstanetForms will remain as IAR's only forms provider.
Please contact the IAR office or your local board with any
questions.
Graduate REALTOR® Institute 2013
All GRI classes will be held in Boise. Registration is now open!
Click here to register.
GRI 101- February 19-20
GRI 102- February 21-22
GRI 201- April 23-24
GRI 202- April 25-26
Increase your income. Build your expertise.
Earn an official REALTOR® designation this year!
To see how your designation course counts toward
other designations, see the Designation Matrix!
More Information on GRI Designation
GRI Designation Application
#####################################
Answer to our Default Font Question
Thanks to all of you that participated in the
Instanet/DocBox/Authentisign Class! The Room was packed!
Clay Brown asked a GREAT question on how to change the
Instanet system default FONT settings. I called Carrie at MLS
this morning but she referred me to Instanet.

Go into the Pro Version of Instanet

Click on the Settings Tab @ Top Right

Click on My Preferences

Click on Form Settings

Leave Default Sort as: Form Name

Change your Font as you like
Note: The above ONLY changes the font you can type. It
does not change the font of the form itself. You can override
this default font in a form.
The phone # for Instanet is 1-800-668-8768. Push #2 for Tech
Support.
For the brokers that sent Instanet Office Forms by the Oct. 31st
deadline, Instanet is promising those forms to be in the system
by the end of the year. They said they had so much response
from offices in our state they got overwhelmed. You will have a
separate folder in the Forms area for your office.
Nikki Trautman
Educational Director
What You Need
 Internet Explorer or Firefox if you use a PC, Safari if
you use a Mac AND
 Adobe Acrobat Reader 9 or higher (available for
freehere)
 Go to InstanetForms Service
 Type in your first name, last name and your
password (NRDS number)
Technical Support
 Technical support and inquires regarding the
InstanetForms services is available via email, or
 Through the InstanetForms online technical chat
room from within the InstanetForms service, or
 Call technical support at 800-668-8768.
 The online technical chat room can be accessed
from the main toolbar on every page within the
InstanetForms service.
 Feel free to refer to the Online Help and FAQ
Site before contacting the technical support
department.
Training Information
 View the Instanet Forms Introduction Video
 Access Instanet Training Webinar
 Access your IAR Member Training
 To schedule an individual, office or Board training contact Gregg
Driscoll, Gregg@instanetsolutions.comor
check calendar availability.
Desktop version available: Call the 1-800-668-8768,
option 1 for sales.
Individual Pricing - $59.00 per year for a promotional three
month period, after that, $79.00 per year.
ONLINE EDUCATION
Online education brought to you by the Idaho
Association or REALTORS® and the CE Shop and
Hondros
Today the Consumer Financial Protection Bureau (CFPB) adopted a
new rule that will protect consumers from irresponsible mortgage
lending by requiring lenders to ensure prospective buyers have the
ability to repay their mortgage. The rule also protects borrowers
from risky lending practices such as "no doc" and "interest only"
features that contributed to many homeowners ending up in
delinquency and foreclosure after the 2008 housing collapse.
"When consumers sit down at the closing table, they shouldn't be
set up to fail with mortgages they can't afford," said CFPB Director
Richard Cordray. "Our Ability-to-Repay rule protects borrowers from
the kinds of risky lending practices that resulted in so many families
losing their homes. This common-sense rule ensures responsible
borrowers get responsible loans."
LADAWN ANDERST APPOINTED CEO OF THE IDAHO ASSOCIATION
OF REALTORS® (Boise, ID)
The Idaho Association of REALTORS® (IAR) is pleased to
announce the appointment of LaDawn Anderst as Chief Executive
Officer. During her 22--‐year career with the Idaho Association of
REALTORS® La Dawn has assumed the roles of Education Director,
Membership Services Director, Convention Coordinator, Director of
Operations, and Interim CEO. She was certified by the National
Association of REALTORS® as the Professional Standards
Administrator for the IAR and several local Boards in 1991 and has
implemented programs including the Legal Hotline, Regional
Professional Standards and Grievance Panels, and the Association
Management Program. She currently supports the Bylaws, Budget,
Executive, Grievance and Professional Standards Committees, along
with the Idaho REALTOR® Leadership Academy. LaDawn holds a
degree in Business Administration from Northwest Nazarene
University and lives in Nampa with her husband, state
Representative Robert Anderst, and their two children.
“LaDawn’s loyalty and dedication to the IAR provide an
extraordinary background of knowledge to draw from as CEO,” said
Nathan Lyda, 2013 President.
“I am honored for the opportunity to serve as CEO of the
Idaho Association of REALTORS®,” LaDawn said, “It is a pleasure to
work with the Executive Committee and our excellent staff.
Together, with our members’ input, we will build on IAR’s past
successes and explore new ways to assist Idaho REALTORS® in the
way they do business.”
The Idaho Association of REALTORS® has been and
remains the principal voice for real estate professionals, a driving
force for education, and a promoter of beneficial laws for real estate
licensees and the private property owner.
Contact: Laura Parsons, Communications Director
Phone: (208) 342-3585
Email: lparsons@idahorealtors.com
CONSUMER FINANCE PROTECTION BUREAU RELEASES NEW
MORTGAGE LENDING RULES
A quick breakdown of the new rules from the Consumer Finance
Protection Bureau (CFPB). In the mortgage world we refer to them
as the GMLG (Government Mortgage Lending Gestapo). If you were
wondering why lenders are so paranoid, read on. It might also be
good to share with your clients. Below is a condensed version.
Leading up to the mortgage crisis, certain lenders originated
mortgages to consumers without considering their ability to repay
the loans. The gradual deterioration in underwriting standards led to
dramatic increases in mortgage delinquencies and rates of
foreclosures. What followed was the collapse of the housing market
in 2008 and the subsequent financial crisis. The 2010 Dodd-Frank
Wall Street Reform and Consumer Protection Act created broadbased changes to how creditors make loans and included new
ability-to-repay requirements, which the CFPB is charged with
implementing.
Under the Ability-to-Repay rule announced today, all new mortgages
must comply with basic requirements that protect consumers from
taking on loans they don't have the financial means to pay back.
Among the features of the new rule:
Financial information has to be supplied and verified: Lenders must
look at a consumer's financial information. A lender generally must
document: a borrower's employment status; income and assets;
current debt obligations; credit history; monthly payments on the
mortgage; monthly payments on any other mortgages on the same
property; and monthly payments for mortgage-related obligations.
This means that lenders can no longer offer no-doc, low-doc loans,
where lenders made quick sales by not requiring documentation,
then offloaded these risky mortgages by selling them to investors.
A borrower has to have sufficient assets or income to pay back the
loan: Lenders must evaluate and conclude that the borrower can
repay the loan. For example, lenders may look at the consumer's
debt-to-income ratio - their total monthly debt divided by their total
monthly gross income. Knowing how much money a consumer earns
and is expected to earn, and knowing how much they already owe,
helps a lender determine how much more debt a consumer can take
on.
Teaser rates can no longer mask the true cost of a mortgage:
Lenders can't base their evaluation of a consumer's ability to repay
on teaser rates. Lenders will have to determine the consumer's
ability to repay both the principal and the interest over the long term
not just during an introductory period when the rate may be lower.
Qualified Mortgages
Lenders will be presumed to have complied with the Ability-to-Repay
rule if they issue "Qualified Mortgages." These loans must meet
certain requirements which prohibit or limit the risky features that
harmed consumers in the recent mortgage crisis. If a lender complies
with the clear criteria of a Qualified Mortgage, consumers will have
greater assurance that they can pay back the loan. Among the
features of a Qualified Mortgage:
No excess upfront points and fees: A Qualified Mortgage limits
points and fees including those used to compensate loan originators,
such as loan officers and brokers. When lenders tack on excessive
points and fees to the origination costs, consumers end up paying a
lot more than planned.
Missed Ethics Training
Deadline?
No toxic loan features: A Qualified Mortgage cannot have risky loan
features, such as terms that exceed 30 years, interest-only
payments, or negative-amortization payments where the principal
amount increases. In the lead up to the crisis, too many consumers
took on risky loans that they didn't understand. They didn't realize
their debt or payments could increase, or that they weren't building
any equity in the home.
If you didn't complete Code of Ethics training
before the Dec. 31, 2012, deadline, you will
be suspended from membership by your local
board, but can avoid automatic termination.
Cap on how much income can go toward debt: Qualified Mortgages
generally will be provided to people who have debt-to-income ratios
less than or equal to 43 percent. This requirement helps ensure
consumers are only getting what they can likely afford. Before the
crisis, many consumers took on mortgages that raised their debt
levels so high that it was nearly impossible for them to repay the
mortgage considering all their financial obligations. For a temporary,
transitional period, loans that do not have a 43 percent debt-toincome ratio but meet government affordability or other standards
such as that they are eligible for purchase by the Federal National
Mortgage Association (Fannie Mae) or the Federal Home Loan
Mortgage Corporation (Freddie Mac) will be considered Qualified
Mortgages.
There are two kinds of Qualified Mortgages that have different
protective features for a consumer and different legal consequences
for the lender. The first, Qualified Mortgages with a rebuttable
presumption, are higher-priced loans. These loans are generally
given to consumers with insufficient or weak credit history. Legally,
lenders that offer these loans are presumed to have determined that
the borrower had an ability to repay the loan. Consumers can
challenge that presumption, though, by proving that they did not, in
fact, have sufficient income to pay the mortgage and their other
living expenses.
The second, Qualified Mortgages that have a safe harbor status, are
generally lower-priced loans. They are generally prime loans that are
given to consumers who are considered to be less risky. They will
also offer lenders the greatest legal certainty that they are complying
with the new Ability-to-Repay rule.
Consumers can legally challenge their lender if they believe the
loan does not meet the definition of a Qualified Mortgage. (Now
you know why lenders are so paranoid...)
The Ability-to-Repay rule does not affect the rights of a consumer
to challenge a lender for violating any other federal consumer
protection laws.
Curtis Mangus
Senior Loan Officer
American Pacific Mortgage
208-629-4959