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February 2009
PRESIDENTS CORNER Linda Long
HAPPY VALENTINES DAY
As we move into the 2009 year,
The Willamette Association of
REALTORS would like to ask
members to help us expand
our services to meet your needs.
Please take a moment to share with usyour thoughts and ideas on how we
can provide assistance to help you to
grow your business in the future.
Please send your ideas by email, or
call Barb at the WAOR Office.
We look forward to working in
partnership with you, our members tocome up with creative ways to go
forward during this challenging year.
Thank You
Linda
Inside this issue:
GENERAL MEMBERSHIP
MEETING
WCR MEETING
New MembersLunch & Learn
Website Update
2
222
1
REALTOR Day
at the Capitol
Professional StandardsAcademy
Spring GRI
Willamette Valley
Government Affairs
3&
3&
3&
3
REALTOR Report 7&
WAOR NEWS
2227 Santiam HWY SE Albany, OR 97322
Phone: 541-924-9267 Fax: 5419924-9268 Email: [email protected]
Website: WAOR.org
Link to WVMLS Class Calendar
Members page
Must be a Member to Access
Green and Save
GREENandSAVE.com a leading greenhome resource (a trusted source for theNAR, AIA, and NARI) is pleased to offerevery member of the NAR with a FREE
practical 12- page Eco Family Guide thathelps all families create a "greener" and
healthier home and lifestyle.
Members page
Must be a Member to Access
Lowes Realtor BenefitsLowe's and NAR have teamed up to
provide REALTORS an exciting
new real estate marketing tool. Under this
exclusive program, Lowe's will send
valuable coupons and rebate offers to
your customers & clients, on your behalf,
via highly customized direct mail featuring
your photo and company logo. Best of all,
it's absolutely FREE to REALTORS.
Members page
Must be a Member to access
Please visit our website at
waor.org
WAOR NEWS
OAR NEWS
NAR NEWS
WAOR Website Additions
OAR Risk Management
Tool Kit Link
link to OARs Risk Management Tool Kit
Members page,
must be a Member to access
New Members Forms
Located on the Home Page
Sellers Advisory
Located on the Home Page
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WCR February Meeting
Shawn Tucker: Keller Williams CorvallisKaire Downin: Keller Williams Corvallis
Angela Stuckart: RE/MAX Integrity Corvallis
Michael Jenson: Prudential Real Estate Professionals
Kathy Corjasso: RE/MAX Integrity Albany
Andrea Beem: Coldwell Banker Valley Brokers Albany
WAOR NEWS
Womens Council Meeting
February 19th
11:30 AM to 1:00 PM
Location
Allied Waste Conference Room
1214 Montgomery ST SE
Albany, OR
Speakers
Linn and Benton County City Planners
RSVP
Heidi Wills
541-704-3450
February 17th
Adair Village Club HouseCost $10.00
Time: 11:15 to 1:00 PM
Speaker: TBA
1 Credit Hour
RSVP by email before February 13th 2009
Or on our website
waor.org
Lunch & Learn
February General Membership Meeting Welcome New Members
Presented by Fidelity Title
Branding The Real Estate Professional
Thursday February 26th11:30 AM to 1:00PM
Speaker
Theresa Fuhr IPX 1031
Corvallis Library
645 Monroe Ave.
Corvallis, OR
RSVP
Marnie @ 541-602-1557
Tammy @ 541-760-66891 Credit Hour Earned
Page 2
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Spring 2009
Oregon GRI
April 28th to May 1st 2009
See flyer on page 6
For more information
OAR Professional Standards Academy
February 23 & February 24th
Salem Conference Center
February 23 1:30 PM to 4:30 PM
Reception Following
February 24th 8:30 AM to 3:30 PM
See flyer on page 4
For more information
OAR NEWS
Welcome to the Oregon Association of REALTORS.
2009 REALTOR DAY & RALLY at the CAPITOLMarch 4, 2009
With the challenges facing Oregon, its critical that wehave a strong presence at this event!
Click herefor the event schedule and to download theregistration form.
Click hereto register online.
There is NO FEE to attend, but you must register.
See flyer on page 5 for more information.
Professional Standards Academy Spring 2009 Oregon GRI
REALTOR Day & Rally
Willamette Valley Government Affairs
Monday February 9th
11:30 AM to 1:00 PM
LaMargarita
545 Ferry ST
Salem OR
Shared Willamette Valley
Government Affairs Meeting
Page 3
http://www.oregonrealtors.org/.docs/pg/400/rid/10884/f/2009_REALTOR_Rally.pdfhttp://www.oregonrealtors.org/.docs/pg/400/rid/10884/f/2009_REALTOR_Rally.pdfhttps://www.oregonrealtorsonline.org/default.aspx?event=203https://www.oregonrealtorsonline.org/default.aspx?event=203https://www.oregonrealtorsonline.org/default.aspx?event=203http://www.oregonrealtors.org/.docs/pg/400/rid/10884/f/2009_REALTOR_Rally.pdf -
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Inside Story Headline
Inside Story Headline
This story can fit 150-200 words.
One benefit of using your news-letter as a promotional tool is
that you can reuse content fromother marketing materials, such
as press releases, market studies,
and reports.
While your main goal of distrib-
uting a newsletter might be to
sell your product or service, the
key to a successful newsletter is
making it useful to your readers.
A great way to add useful con-tent to your newsletter is to
develop and write your ownarticles, or include a calendar of
upcoming events or a specialoffer that promotes a new prod-
uct.
You can also research articles orfind filler articles by accessing
the World Wide Web. You canwrite about a variety of topics
but try to keep your articles
short.
Much of the content you put in
your newsletter can also be used
for your Web site. Microsoft
Publisher offers a simple way toconvert your newsletter to a
Web publication. So, whenyoure finished writing your
newsletter, convert it to a Web
site and post it.
This story can fit 100-150 words.
The subject matter that appearsin newsletters is virtually endless.
You can include stories thatfocus on current technologies or
innovations in your field.
You may also want to note busi-ness or economic trends, or
make predictions for your cus-
tomers or clients.
If the newsletter is distributedinternally, you might comment
upon new procedures or im-
provements to the business.Sales figures or earnings will
show how your business is
growing.
Some newsletters include a col-
umn that is updated every issue,for instance, an advice column, a
book review, a letter from the
president, or an editorial. You
can also profile new employees
or top customers or vendors.
Inside Story Headline
This story can fit 75-125 words.Selecting pictures or graphics isan important part of adding con-
tent to your newsletter.
Think about your article and askyourself if the picture supports
or enhances the message youretrying to convey. Avoid selecting
images that appear to be out of
context.
Microsoft Publisher includesthousands of clip art images from
which you can choose and im-
port into your newsletter. Thereare also several tools you can
use to draw shapes and symbols.
Once you have chosen an image,place it close to the article. Be
sure to place the caption of the
image near the image.
Caption describing picture orgraphic.
Caption describing picture orgraphic.
To catch t he reader's attention, place an interestingsentence or quote from the story here.
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Inside Story Headline
Inside Story Headline
Inside Story Headline
This story can fit 150-200 words.
One benefit of using your news-letter as a promotional tool is
that you can reuse content fromother marketing materials, such
as press releases, market studies,
and reports.
While your main goal of distrib-
uting a newsletter might be to
sell your product or service, the
key to a successful newsletter is
making it useful to your readers.
A great way to add useful con-tent to your newsletter is to
develop and write your ownarticles, or include a calendar of
upcoming events or a specialoffer that promotes a new prod-
uct.
You can also research articles orfind filler articles by accessing
the World Wide Web. You canwrite about a variety of topics
but try to keep your articles
short.
Much of the content you put in
your newsletter can also be used
for your Web site. Microsoft
Publisher offers a simple way toconvert your newsletter to a
Web publication. So, whenyoure finished writing your
newsletter, convert it to a Web
site and post it.
This story can fit 100-150 words.
The subject matter that appearsin newsletters is virtually endless.
You can include stories thatfocus on current technologies or
innovations in your field.
You may also want to note busi-ness or economic trends, or
make predictions for your cus-
tomers or clients.
If the newsletter is distributedinternally, you might comment
upon new procedures or im-
provements to the business.Sales figures or earnings will
show how your business is
growing.
Some newsletters include a col-
umn that is updated every issue,for instance, an advice column, a
book review, a letter from the
president, or an editorial. You
can also profile new employees
or top customers or vendors.
This story can fit 75-125 words.Selecting pictures or graphics isan important part of adding con-
tent to your newsletter.
Think about your article and askyourself if the picture supports
or enhances the message youretrying to convey. Avoid selecting
images that appear to be out of
context.
Microsoft Publisher includesthousands of clip art images from
which you can choose and im-
port into your newsletter. Thereare also several tools you can
use to draw shapes and symbols.
Once you have chosen an image,place it close to the article. Be
sure to place the caption of the
image near the image.
Caption describing picture orgraphic.
Caption describing picture orgraphic.
To catch the reader's attention, place an interestingsentence or quote from the story here.
Page 5
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Inside Story Headline
Inside Story Headline
This story can fit 150-200 words.
One benefit of using your news-letter as a promotional tool is
that you can reuse content fromother marketing materials, such
as press releases, market studies,
and reports.
While your main goal of distrib-
uting a newsletter might be to
sell your product or service, the
key to a successful newsletter is
making it useful to your readers.
A great way to add useful con-tent to your newsletter is to
develop and write your ownarticles, or include a calendar of
upcoming events or a specialoffer that promotes a new prod-
uct.
You can also research articles orfind filler articles by accessing
the World Wide Web. You canwrite about a variety of topics
but try to keep your articles
short.
Much of the content you put in
your newsletter can also be used
for your Web site. Microsoft
Publisher offers a simple way toconvert your newsletter to a
Web publication. So, whenyoure finished writing your
newsletter, convert it to a Web
site and post it.
This story can fit 100-150 words.
The subject matter that appearsin newsletters is virtually endless.
You can include stories thatfocus on current technologies or
innovations in your field.
You may also want to note busi-ness or economic trends, or
make predictions for your cus-
tomers or clients.
If the newsletter is distributedinternally, you might comment
upon new procedures or im-
provements to the business.Sales figures or earnings will
show how your business is
growing.
Some newsletters include a col-
umn that is updated every issue,for instance, an advice column, a
book review, a letter from the
president, or an editorial. You
can also profile new employees
or top customers or vendors.
Inside Story Headline
This story can fit 75-125 words.Selecting pictures or graphics isan important part of adding con-
tent to your newsletter.
Think about your article and askyourself if the picture supports
or enhances the message youretrying to convey. Avoid selecting
images that appear to be out of
context.
Microsoft Publisher includesthousands of clip art images from
which you can choose and im-
port into your newsletter. Thereare also several tools you can
use to draw shapes and symbols.
Once you have chosen an image,place it close to the article. Be
sure to place the caption of the
image near the image.
Caption describing picture orgraphic.
Caption describing picture orgraphic.
To catch t he reader's attention, place an interestingsentence or quote from the story here.
Page 6
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WASHINGTON, January 26, 2009
National Association of Realtors.
Existing-home sales including single-family, townhomes, condominiums and co-ops jumped 6.5 percent to a seasonally ad-
justed annual rate1 of 4.74 million units in December from a downwardly revised pace of 4.45 million units in November, but are
3.5 percent below the 4.91 million-unit pace in December 2007.
For all of 2008 there were 4,912,000 existing-home sales, which was 13.1 percent below the 5,652,000 transactions recorded in
2007. This is the lowest volume since 1997 when there were 4,371,000 sales.
Lawrence Yun, NAR chief economist, said home prices continue to fall significantly. It appears some buyers are taking advantage
of much lower home prices, he said. The higher monthly sales gain and falling inventory are steps in the right direction, but the
market is still far from normal balanced conditions. Buyers will continue to have an edge over sellers for the foreseeable fu-
ture.Total housing inventory at the end of December fell 11.7 percent to 3.68 million existing homes available for sale, which
represents a 9.3-month supply2 at the current sales pace, down from a 11.2-month supply in November.
Yun said the market is underperforming and hurting the broader economy. Weve added 25 million people to our population overthe past decade and housing affordability conditions are the best weve seen since 1973, but household formation is much lower
than expected, he said. Consequently, there is a pent-up demand which could be unleashed with the right stimulus, including a
non-repayable home buyer tax credit. The Obama administration and Congress need to move fast to stimulate a spring sales upturn
which will help to stabilize home prices and set the foundation for a sustainable economic recovery.
The national median existing-home price3 for all housing types was $175,400 in December, which is 15.3 percent below December 2007
when the median was $207,000. There remains a significant downward distortion in the current median from a large number of distress
sales at discounted prices, currently 45 percent of transactions; the median is where half of the homes sold for more and half sold for less.
For all of 2008, the median price was $198,600, down 9.3 percent from $219,000 in 2007.
NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth, said its an excellent time for
first-time home buyers with good jobs. The typical buyer plans to stay in their home for 10 years, which is the correct approach in todays
market, he said. With historically low mortgage interest rates, flexible sellers, a large inventory, and homes that are selling for less than
replacement construction costs in much of the country, buyers whove been on the fence should take a closer look at todays m arket.
McMillan added that first-time buyers may want to consider an FHA loan, which offers down payments of 3.5 percent on a safe 30-year
fixed-rate mortgage.
NAR NEWS
REALTOR REPORT
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According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage fell to 5.29
percent in December from 6.09 percent in November; the rate was 6.10 percent in December 2007. Last week, Freddie Mac re-
ported the 30-year rate was 5.12 percent. Single-family home sales rose 7.0 percent to a seasonally adjusted annual rate of 4.26
million in December from a level of 3.98 million in November, but are 1.4 percent below a 4.32 million-unit pace in December
2007. For all of 2008, single-family sales fell 11.9 percent to 4,349,000.
The median existing single-family home price was $174,700 in December, down 14.8 percent from a year ago. For all of 2008,
the single-family median was $197,100, which is 9.5 percent below 2007.Existing condominium and co-op sales increased 2.1
percent to a seasonally adjusted annual rate of 480,000 units in December from 470,000 in November, but are 18.4 percent be-
low the 588,000-unit level a year ago. For all of 2008, condo sales dropped 21.0 percent to 563,000 units. The median existing
condo price4 was $181,400 in December, down 18.3 percent from December 2007. For all of 2008, the median condo price was
$210,000, which is 7.2 percent below 2007.
Regionally, existing-home sales in the Northeast slipped 1.4 percent to an annual pace of 720,000 in December, and are 14.3
percent below December 2007. The median price in the Northeast was $235,000, which is 7.8 percent lower than a year ago.
Existing-home sales in the Midwest increased 4.0 percent in December to a level of 1.04 million but are 10.3 percent below a
year ago. The median price in the Midwest was $140,800, down 11.4 percent from December 2007.In the South, existing-home
sales rose 7.4 percent to an annual pace of 1.74 million in December, but are 11.2 percent lower than December 2007. The me-
dian price in the South was $158,600, which is down 8.0 percent from a year ago. Existing-home sales in the West jumped 13.6
percent to an annual rate of 1.25 million in December and are 31.6 percent higher than a year ago. The median price in the West
was $213,100, down 31.5 percent from December 2007.1The annual rate for a particular month represents what the total num-
ber of actual sales for a year would be if the relative pace for that month were maintained for 12 consecutive months. Seasonally
adjusted annual rates are used in reporting monthly data to factor out seasonal variations in resale activity. For example, h ome
sales volume is normally higher in the summer than in the winter, primarily because of differences in the weather and family
buying patterns. However, seasonal factors cannot compensate for abnormal weather patterns.
Existing-home sales, which include single-family, townhomes, condominiums and co-ops, are based on transaction closings. This
differs from the U.S. Census Bureaus series on new single -family home sales, which are based on contracts or the acceptance of
a deposit. Because of these differences, it is not uncommon for each series to move in different directions in the same month. In
addition, existing-home sales, which generally account for 85 to 90 percent of total home sales, are based on a much larger sam-
ple more than 40 percent of multiple listing service data each month and typically are not subject to large prior-month revi-
sions.
2Total inventory and months supply data are available back through 1999, while single -family inventory and months supply are
available back to 1982. Condos were tracked quarterly prior to 1999 when single-family homes accounted for more than nine out
of 10 purchases. The only valid comparisons for median prices are with the same period a year earlier due to the seasonality in
buying patterns. Month-to-month comparisons do not compensate for seasonal changes, especially for the timing of family buy-
ing patterns. Changes in the composition of sales can distort median price data. Year-ago median and mean prices sometimes
are revised in an automated process if more data is received than was originally reported. Because there is a concentration of
condos in high-cost metro areas, the national median condo price can be higher than the median single-family price. In a given
market area, condos typically cost less than single-family homes.
Existing-home sales for January including monthly revisions to sales rates for the past three years will be released February
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