CAR Newsline Archives

Wednesday, August 06, 2008
In this Issue:

* EXPO CLOSING LUNCHEON FEATURES BEST-SELLING AUTHOR JOSEPH A. MICHELLI

* REALTORS(R) RAISE FUNDS FOR HABITAT FOR HUMANITY'S "HOMES FOR HEROES"

PROGRAM

* NEW STUDY SUGGESTS HOME LOAN LIMITS, NOT SUBPRIME BORROWERS, LED TO MORTGAGE CRISIS

* START YOUR ENGINES FOR EXPO'S REALTOR(R) NIGHT OUT OCT. 15

* RESIDENTIAL CONSTRUCTION SPENDING DECLINES 1.8 PERCENT IN JUNE

* MORTGAGE APPLICATIONS INCREASE 2.8 PERCENT

* C.A.R. PUBLISHES NEW ARTICLE ON DEEDS IN LIEU OF FORECLOSURE

* LEADING EMPLOYMENT TRENDS INDEX DECLINES 0.9 PERCENT IN JULY

* C.A.R. GREEN TIP OF THE WEEK: POST OFFICE RECYCLES ELECTRONICS

EXPO CLOSING LUNCHEON FEATURES BEST-SELLING AUTHOR JOSEPH A. MICHELLI Ever wonder what it takes to build a brand and keep customers coming back for more? Find out by joining Joseph A. Michelli, Ph.D, best-selling author, organizational psychologist, business consultant, and radio host, during the California REALTOR(R) EXPO 2008Closing Luncheon, "The Starbucks Experience,"

Thursday, Oct. 16, from 12 noon to 1:30 p.m.

Michelli will be sharing his findings from his in-depth analysis of the Starbucks business model and the popular coffee chain's highly successful customer service platform, which he has compiled in a national bestseller:

The Starbucks Experience: 5 Principles for Turning Ordinary Into Extraordinary.

CALIFORNIA REALTOR(R) EXPO 2008, the state's largest real estate trade show, running October 14 to16 at the Long Beach Convention Center, offers two full days of valuable educational programs, special events, and networking opportunities designed to help REALTORS(R) navigate the market ahead.

Tech Tuesday on Tuesday, Oct. 14, is a paid event preceding EXPO and includes a full day packed with educational seminars focused on the interconnection between technology and real estate. This premier event is where REALTORS(R) can obtain hands-on training on how to use the latest tools they need to boost their bottom line. This year's Tech Tuesday luncheon is titled "The Rise of the Machine: How Technology Is Changing the Buying and Selling of Real Estate," and features guest speaker Ed Dilworth, CEO of Nimblefish Technologies.

EXPO is free for all members but registration is required. Nominal fees apply for Tech Tuesday, all luncheons, and REALTOR(R) Night Out. For more information or to register, go to www.realtorexpo.org.

More info: http://www.realtorexpo.org

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REALTORS(R) RAISE FUNDS FOR HABITAT FOR HUMANITY'S "HOMES FOR HEROES"

PROGRAM

Three Southern California REALTOR(R) associations recently participated in a fundraiser to generate money for Habitat for Humanity's "Homes for Heroes and Foundation for Families" program.

Orange County Association of REALTORS(R), Newport Beach Association of REALTORS(R), and the Laguna Board of REALTORS(R), alongside individual REALTORS(R), brokerage offices, members of the Women's Council of REALTORS(R), and association staff members and vendors collectively helped raise more than $250,000 for Habitat's program. The funds will be used to build and partially furnish one of several planned homes in the Orange County area for veterans.

More info:

http://www.habitatoc.org/news/releases/2008/2008-07-01.media.alert.framing.b

egins.html

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* * * Advertiser * * *

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NEW STUDY SUGGESTS HOME LOAN LIMITS, NOT SUBPRIME BORROWERS, LED TO MORTGAGE CRISIS A new study from the UC Irvine Paul Merage School of Business Center for Real Estate suggests that the private mortgage industry, not subprime borrowers who took out risky adjustable rate loans, led to the current lending crisis that resulted in the dramatic rise and fall of home prices across the country and mounting foreclosures.

According to the study, had loan limits for Fannie Mae and Freddie Mac, the nation's two largest mortgage lenders, been lifted ahead of the current housing crisis, the two agencies would have been able to provide more loan products for borrowers, and the private mortgage sector would not have pushed as many subprime loan productso?=o?="loans that, for many homeowners, became unaffordable as their initial adjustable interest rates reset at higher amounts.

"We were quite surprised to find the intensity of subprime lending was insignificant after controlling for all the other factors influencing the market, but we were really blown away when Fannie's and Freddie's continuing presence in the market was shown to be so important," said Kerry Vandell, UCI finance professor and Center for Real Estate director.

More info:

http://www.merage.uci.edu/CalendarAndNews/PressReleases/PressReleases.aspx?R

eleaseID=224

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START YOUR ENGINES FOR EXPO'S REALTOR(R) NIGHT OUT OCT. 15 Schmooze with "surprise" guests; slip into your best Monte Carlo getup, and enjoy a lively casino hall during the CALIFORNIA REALTOR(R) EXPO 2008

REALTOR(R) Night Out, titled "Grand Prix Game Night," set for Wednesday, Oct. 15, from 6 p.m. to 10 p.m.

REALTOR(R) Night Out provides a great opportunity for EXPO attendees and their guests to cut loose with their peers, family, and friends after a full day of attending info-packed seminars and visiting exhibitors in the trade show hall. This year's REALTOR(R) Night Out includes dancing, cocktails, and a fully a loaded hors d'oeuvres bar--you won't want to miss out on the action!

Tickets for REALTOR(R) Night Out are $55 through Oct. 13, and $65 on-site.

REALTOR(R) Night Out typically sells out, so make your reservation today.

More info: http:www.realtorexpo.org

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* * * Advertiser * * *

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r neighborhoods</a> now & get MORE. 

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RESIDENTIAL CONSTRUCTION SPENDING DECLINES 1.8 PERCENT IN JUNE The pace of residential construction spending fell to a seasonally adjusted annual rate of $372.5 billion, a 1.8 percent decline from May's estimate of

$379.1 billion, according to new data from the U.S. Dept. of Commerce.

More info: http://www.census.gov/const/C30/release.pdf

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MORTGAGE APPLICATIONS INCREASE 2.8 PERCENT Mortgage application volume for the week ending Aug. 1 increased 2.8 percent from the previous week to 432.6, a 33.7 percent decline from a year ago, according to the latest data from the Mortgage Bankers Association. The refinancing index for the period increased 4.4 percent to 1,121.8, from

1,074.4 the previous week.

More info: http://www.mortgagebankers.org/NewsandMedia/PressCenter/64258.htm

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* * * C.A.R. Member Advantage Partner * * *

Bank of America and C.A.R. team up to bring you the C.A.R. WorldPoints MasterCard credit card: Enjoy the rewards! Earn points and get the rewards you want with no annual fee. Show the card that shows you're a REALTOR! <a href=http://mailer.carwebs.org/news/Newsline/passurl.asp?ad=419&adsid=325>Cl

ick here</a> to learn more! 

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* * * Advertiser * * *

Client Direct,(formerly the HomeOwners Guide), is a Free Marketing Tool for C.A.R. Members.

http://mailer.carwebs.org/news/Newsline/passurl.asp?ad=193&adsid=325

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C.A.R. PUBLISHES NEW ARTICLE ON DEEDS IN LIEU OF FORECLOSURE C.A.R.'s Member Legal Services team has published a new legal article, "Deeds in Lieu of Foreclosure. A deed in lieu of foreclosure is a transfer of real property from the property owner to the lender. This process provides property owners with an alternative to a short sale or foreclosure.

This article can be found on the What's New and Legal Articles pages of the Legal section on C.A.R. Online (www.car.org), or go directly http://www.car.org/legal/2008articles/deed-in-lieu-foreclosure/.

More info: http://www.car.org/legal/2008articles/deed-in-lieu-foreclosure/

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LEADING EMPLOYMENT TRENDS INDEX DECLINES 0.9 PERCENT IN JULY A leading employment index declined in July to 112.1, down 0.9 percent from June's revised figure of 113.1, and more than 7.5 percent from July 2007, according to The Conference Board' latest Employment Trends Index. The Index marks a year of employment declines and, according to The Conference Board, indicates that unemployment will continue to rise in coming months, especially in temporary-help hires and part-time workers.

"This economy remains too weak to stem the monthly loss in jobs," said Gad Levanon, senior economist at The Conference Board. "Unless the labor market turns around soon, unemployment could pass 6 percent in early 2009o?=o?="and The Conference Board's Employment Trends Index isn't signaling any such improvement around the corner."

More info: http://www.conference-board.org/economics/employment.cfm

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C.A.R. GREEN TIP OF THE WEEK: POST OFFICE RECYCLES ELECTRONICS The next time you're in the post office, ask the postal clerk for an envelope to recycle your cell phones, PDAs, MP3 players, ink jet cartridges, digital cameras, and small electronics. The post office provides this free service.

C.A.R.'s "Green Tips" are part of the Association's effort to raise member awareness about environmentally sound practices and offer REALTORS(R) ideas for greening their business practices and better serving their green-minded consumers.

Calif. median home price - June 08: $368,250(Source: C.A.R.) Calif. highest median home price by C.A.R. region June 08: Santa Barbara So.

Coast $1,035.000(Source: C.A.R.)

Calif. lowest median home price by C.A.R. region June 08: High Desert

$180,570(Source: C.A.R.)

Calif. First-time Buyer Affordability Index - First Quarter 08:44 percent

(Source: C.A.R.)

Mortgage rates - week ending 07/31/08

30-yr. fixed: 6.52 Fees/points: 0.7%

15-yr. fixed: 6.07 Fees/points: 0.6%

1-yr. adjustable: 5.27 % Fees/points: 0.6%(Source: Freddie Mac)

***********************************************************************

The CALIFORNIA ASSOCIATION OF REALTORS(R) is a trade association

representing nearly 200,000 REALTORS(R) statewide.

Edited by Mark Giberson, markg@car.org

Executive offices: 525 South Virgil Ave., Los Angeles CA 90020

Phone (213) 739-8200; fax (213) 480-7724

Legislative offices: 980 Ninth St., #1430, Sacramento CA 95814

Phone 916-492-5200; fax 916-444-2033

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To view C.A.R.'s Privacy Policy click on this link:

http://www.car.org/aboutus/privacypolicy/

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If you wish to update the e-mail address to which this newsletter is

sent, please do not reply to this e-mail.

E-mail address change requests must be directed to your local

Association, the Lodi Association of REALTORS. at

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Copyright (c) 2008 CALIFORNIA ASSOCIATION OF REALTORS(R)(C.A.R.)

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Wednesday, July 30, 2008
In this Issue:

* C.A.R. APPLAUDS TODAY'S PASSAGE OF H.R. 3221

* C.A.R. LAUNCHES NEW WEB SITE FOR REALTORS(R)

* C.A.R. REPORTS SALES INCREASED 17.5 PERCENT; MEDIAN HOME PRICE FELL 37.7 PERCENT IN JUNE

* CONSUMER CONFIDENCE HOLDS STEADY IN JULY

* SIX REALTOR(R) ASSOCIATIONS SIGN ON TO PARTICIPATE IN STATEWIDE MLS

* HOME PRICES DECLINE 15.8 PERCENT IN MAY ACCORDING TO NATIONAL INDEX

* EXPO, TECH TUESDAY SPOTLIGHT TECHNOLOGY'S, GREEN MOVEMENT'S IMPACT ON REAL ESTATE

* NAR EXISTING HOME SALES DECLINE 2.6 PERCENT IN JUNE

* C.A.R. GREEN TIP OF THE WEEK: CEILING FANS VERSUS AIR CONDITIONERS

C.A.R. APPLAUDS TODAY'S PASSAGE OF H.R. 3221 C.A.R. applauds President Bush's decision today to sign H.R. 3221 into law.

For the past several years, C.A.R. and the NATIONAL ASSOCIATION OF

REALTORS(R) have aggressively lobbied for Congress to pass numerous provisions found in this historic bill.

The legislation, called the Housing and Economic Recovery Act of 2008, will assist an estimated 400,000 homeowners facing foreclosure, many of whom reside in California, by allowing them to refinance their current mortgages with a Federal Housing Administration (FHA)-backed loan. The bill also will permanently increase FHA, Fannie Mae, and Freddie Mac loan limits in high-cost areas.

"This federal housing bill is a significant move in the right direction for California homeowners," said C.A.R. President William E. Brown. "It will aid in stabilizing our economy and help stem foreclosures, while also providing support to first-time homeowners."

The bill permanently increases the conforming loan limit to $625,500.

C.A.R. has long advocated for higher conforming loan limits. In February, the Economic Stimulus Act of 2008 was signed, temporarily raising the conforming loan limit in high-cost areas to $729,750 from $417,000 until December 31, 2008.

More info: http://www.car.org/newsstand/housingbillsignedintolaw/

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C.A.R. LAUNCHES NEW WEB SITE FOR REALTORS(R) C.A.R. today launched the Association's all new, completely redesigned and enhanced car.org Web site, your one-stop portal to Association and industry news, events, and services, as well as vital tools needed to remain successful in today's challenging market.

If you haven't already done so, please take a few minutes to register on the new site by entering your existing username and password so that you may access members-only areas of the new car.org -- including WINForms(R). Once you have logged in to the new site using your existing username and password, you will need to create a new username and password for future visits. Please remember to save your new username and password in a safe place -- your new username and password will replace any prior usernames or passwords you may have used to access the "old" car.org.

If you have forgotten your username and password on the "old" site, you may register by clicking on the "Register" link in the login box on the new site. By clicking on the link, you will be guided through a multi-step registration process. When you have completed the process, your new login information will be displayed along with a link to login to the new site.

Please note: It is important to have your NAR NRDS number available before you begin the registration process.

Should you need help obtaining your NRDS number, or experience difficulty during the log in process, a special page has been created to assist you at http://www.car.org/newsstand/loginhelp/

As the Association's official Web site, the new car.org showcases many essential online features, including intuitive navigation; customized content link capabilities; and sophisticated search functionality, as well as destinations familiar to current users including Legal, Economics, Member Center, Newsstand, and C.A.R. blogs, videos, and podcasts. The new car.org also features an enhanced registration system and personalized member profiles; a user-friendly calendar that will allow you to view C.A.R.

meetings and industry events at a glance; section-specific search capabilities, and much more.

To help members navigate the new Web site, C.A.R. has created the "Members'

Guide to the New car.org." The "Members' Guide to the New car.org" can be found at http://www.car.org/websiteguide.

The new car.org was designed to help strengthen your connection to the Association and achieve success by offering enhanced links to industry news, events, and educational opportunities; information about new products and services; and other valuable resources. We hope you'll take some time to explore all of the new car.org features, as well as reacquaint yourself with familiar pages and online resources.

More info: http://www.car.org/

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* * * Advertiser * * *

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rry - Offer Ends August 15th, 2008 - LEARN MORE</a> ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

C.A.R. REPORTS SALES INCREASED 17.5 PERCENT; MEDIAN HOME PRICE FELL 37.7 PERCENT IN JUNE Home sales increased 17.5 percent in June in California compared with the same period a year ago, while the median price of an existing home fell 37.7 percent, the CALIFORNIA ASSOCIATION OF REALTORS(R) (C.A.R.) reported Friday.

"Statewide home sales remained above the 400,000 level for the second month in a row, and up nearly 18 percent from a year ago," said C.A.R. President William E. Brown. "Following a 30-month string of year-to-year percentage decreases that began in October 2005, sales last month also posted their third consecutive year-to-year gain."

The median price of an existing, single-family detached home in California during June 2008 was $368,250, a 37.7 percent decrease from the revised $591,280 median for June 2007, C.A.R. reported. The June 2008 median price fell 4.3 percent compared with May's $384,840 median price.

More info: http://www.car.org/newsstand/0608junesalesandpricereport/

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CONSUMER CONFIDENCE HOLDS STEADY IN JULY Consumer confidence held steady in July and now stands at 51.9, up from 51 in June, according to the latest Conference Board Consumer Confidence Index, which measures consumers' current outlook on the economy across a several business sectors and expectations for the near future.

"Consumers' assessment of current conditions was little changed, suggesting there has been no significant improvement, nor significant deterioration, in business or labor market conditions," said Lynn Franco, director of The Conference Board Consumer Research Center. "Looking ahead, while consumers remain extremely grim about short-term prospects, the modest improvement in expectations, often a harbinger of economic times to come, bears careful watching over the next few months."

More info: http://www.conference-board.org/economics/ConsumerConfidence.cfm

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* * * Advertiser * * *

COMMISSIONS PAY OFF - UP TO 5% - IN D.R. HORTON'S TGI MORE PROGRAM. Bring buyers to MORE savings, July 26th to September 30th. The deals are big, the financing works, & you can earn up to 5% on TGI MORE homes. Check <a href=http://mailer.carwebs.org/news/Newsline/passurl.asp?ad=432&adsid=324>ou

r neighborhoods</a> now & get MORE. 

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

SIX REALTOR(R) ASSOCIATIONS SIGN ON TO PARTICIPATE IN STATEWIDE MLS Six additional associations of REALTORS(R) have confirmed their interest in participating in the California statewide MLS. Recent letters of intent to participate in the California statewide MLS have been received from the Ojai Valley, Northern Solano County, Lassen, Watsonville, Santa Cruz, and Tuolumne County associations of REALTORS(R). These additions bring the total number of interested associations of REALTORS(R) to 66 and represent more than 120,000 California REALTORS(R).

The California MLS board of directors met recently to continue its work on implementing a statewide MLS, including reviewing exciting new technology partnership opportunities. C.A.R. members can expect to see more frequent updates and details on the development of the California statewide MLS in the coming months. Further information about the California MLS and a complete list of associations of REALTORS(R) that have submitted a letter of intent to participate can be found at http://www.car.org/cal-statewide-mls/.

More info: http://www.car.org/cal-statewide-mls/

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HOME PRICES DECLINE 15.8 PERCENT IN MAY ACCORDING TO NATIONAL INDEX Home prices across the country declined at a record pace in May by 15.8 percent, compared with price levels for the same period a year ago, according to the latest S&P/Case-Shiller Composite Home Price Indices. Home values have declined 18.4 percent since the S&P/Case-Shiller Indices 20-city index's peak in July 2006.

More info:

http://www2.standardandpoors.com/spf/pdf/index/CSHomePrice_Release_072943.pd

f

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EXPO, TECH TUESDAY SPOTLIGHT TECHNOLOGY'S, GREEN MOVEMENT'S IMPACT ON REAL ESTATE CALIFORNIA REALTOR(R) EXPO 2008, the state's largest real estate trade show running October 14-16 at the Long Beach Convention Center, offers two full days of valuable educational programs, special events, and networking opportunities designed to help REALTORS(R) navigate the market ahead.

Seminar topics will cover a vast range of important issues including how to ramp up your online marketing plan; the secrets of successful home staging; building up your business brand using podcasts and video; and working with short sales and foreclosures.

A special focus is being placed on green issues and sustainability this year as part of C.A.R.'s mission to expand member awareness of environmentally sound practices. Ed Begley Jr., actor, director, inventor, and perhaps one of Hollywood's biggest advocates for green and sustainable living issues, will present a keynote session on green issues. "Sustainable Lives: The Benefits of Greening Your Workplace and Your Home" will run Wednesday, Oct.

15, from 10 a.m. to 11:30 a.m.

And on both Wednesday, Oct. 15, from 2 p.m. to 3:30 p.m., and Thursday, Oct.

16, from 9 a.m. to 10:30 a.m., a panel of REALTORS(R) will share their knowledge and expertise on the connection between sustainability and profitability in "Going Green: What it Takes to be Green and Why Every

REALTOR(R) Needs to Get There."

Tech Tuesday on Tuesday, Oct. 14, is a paid event preceding EXPO and includes a full day packed with educational seminars focused on the interconnection between technology and real estate. This premier event is where REALTORS(R) can obtain hands-on training on how to use the latest tools they need to boost their bottom line. This year's Tech Tuesday luncheon is titled "The Rise of the Machine: How Technology is Changing the Buying and Selling of Real Estate," and features guest speaker Ed Dilworth, CEO of Nimblefish Technologies.

More info: http://www.realtorexpo.org

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NAR EXISTING HOME SALES DECLINE 2.6 PERCENT IN JUNE The pace of existing-home sales declined 2.6 percent to a seasonally adjusted annual rate of 4.86 million units in June, compared with 4.99 million units in May, and remain 15.5 percent below the 5.75 million-unit pace in June 2007, according to new data from NAR.

More info:

http://www.realtor.org/press_room/news_releases/2008/ehs_down_in_june

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C.A.R. GREEN TIP OF THE WEEK: CEILING FANS VERSUS AIR CONDITIONERS Instead of running an air conditioner at a cost of 16 cents per hour or 43 cents per hour for central air, use a ceiling fan. If you use an air conditioner, select an ENERGY STAR variety, which will save 20 to 40 percent in energy consumption as compared with conventional air conditioners, according to The Green Book: The Everyday Guide to Saving the Planet One Simple Step at a Time, by Elizabeth Rogers and Thomas M. Kostigen

C.A.R.'s "Green Tips" are part of the Association's effort to raise member awareness about environmentally sound practices and offer REALTORS(R) ideas for greening their business practices and better serving their green-minded consumers.

Calif. median home price - June 08: $368,250(Source: C.A.R.) Calif. highest median home price by C.A.R. region June 08: Santa Barbara So.

Coast $1,035.000(Source: C.A.R.)

Calif. lowest median home price by C.A.R. region June 08: High Desert

$180,570(Source: C.A.R.)

Calif. First-time Buyer Affordability Index - First Quarter 08:44 percent

(Source: C.A.R.)

Mortgage rates - week ending 07/24/08

30-yr. fixed: 6.63 Fees/points: 0.6%

15-yr. fixed: 6.18 Fees/points: 0.6%

1-yr. adjustable: 5.49 % Fees/points: 0.5% (Source: Freddie Mac)

***********************************************************************

The CALIFORNIA ASSOCIATION OF REALTORS(R) is a trade association

representing nearly 200,000 REALTORS(R) statewide.

Edited by Mark Giberson, markg@car.org

Executive offices: 525 South Virgil Ave., Los Angeles CA 90020

Phone (213) 739-8200; fax (213) 480-7724

Legislative offices: 980 Ninth St., #1430, Sacramento CA 95814

Phone 916-492-5200; fax 916-444-2033

* * * * * * * * * * * * * * * * * * * * * * * * *

To view C.A.R.'s Privacy Policy click on this link:

http://www.car.org/index.php?id=MTY1

http://carwebs.org/news/preferences/index.asp?f=1&email=bG9kaWFvckBzb2Z0Y29t

Lm5ldA

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To be removed from this mailing list please do not respond to this

e-mail. Simply go to

http://carwebs.org/news/preferences/index.asp?u=1&email=bG9kaWFvckBzb2Z0Y29t

Lm5ldA

To contact C.A.R. regarding C.A.R. Newsline, click on this link:

http://www.car.org/index.php?id=MTEx

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Wednesday, July 23, 2008
In this Issue:

* PRESIDENT BUSH DROPS OPPOSITION TO HOUSING BILL EXPECTED FOR A FULL VOTE TODAY

* SURVEY INDICATES BROKERS ARE SEEING AN EASING OF ADVERSE MARKET CONDITIONS

* HOUSING STARTS IN CALIFORNIA INCREASE 9.2 PERCENT IN JUNE

* ED DILWORTH FEATURED SPEAKER FOR TECH TUESDAY OCT. 14

* NEW SINGLE-FAMILY HOME CONSTRUCTION DECLINES 3.5 PERCENT IN JUNE

* LEADING INDEX DECLINES 0.1 PERCENT IN JUNE

* START YOUR ENGINES FOR EXPO'S REALTOR(R) NIGHT OUT OCT. 15

* C.A.R. GREEN TIP OF THE WEEK: BRING YOUR OWN MUG

* MORTGAGE INTEREST RATES DECLINE ON MARKET UNCERTAINTY, POSSIBLE FED ACTION

* MORE AMERICANS HAVE BROADBAND ACCESS, BUT LOW-INCOME RESIDENTS SLOW TO CONNECT

PRESIDENT BUSH DROPS OPPOSITION TO HOUSING BILL EXPECTED FOR A FULL VOTE TODAY The White House today said President Bush has dropped his opposition to a sweeping housing bill aimed at shoring up the nation's troubled mortgage companies and assisting homeowners facing foreclosure.

The measure, which includes a federal assistance plan for the ailing mortgage giants Fannie Mae and Freddie Mac, also calls for $3.9 billion to pay for grants to help local governments purchase and refurbish foreclosed properties, the component of the measure Bush opposed. Foreclosed properties are becoming a significant financial drain on local municipalities, driving down home values in nearby neighborhoods, creating blight, and impacting the cities' property tax reservoirs.

The measure also would permanently increase the cap on conforming loan limits for mortgages guaranteed by Fannie and Freddie to a maximum of $625,000 from $417,000.

SURVEY INDICATES BROKERS ARE SEEING AN EASING OF ADVERSE MARKET CONDITIONS A group of leading brokers report seeing some easing in adverse conditions impacting the housing market, according to the results of a survey conducted by The Leading Real Estate Companies of the World(R), a national network of about 700 brokers across the country.

According to the survey, 59 percent of the respondents report seeing stronger market conditions between May and July. Some 20 percent of the respondents also reported declines in inventory during this period and more buyers moving forward with serious home searches than in prior months.

More info: http://www.leadingre.com/PageEngine.aspx?CID=10134&subCatID=1008

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* * * Advertiser * * *

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HOUSING STARTS IN CALIFORNIA INCREASE 9.2 PERCENT IN JUNE Building permits issued for single-family homes in California rose 9.2 percent to 3,954 in June compared with May but remain 54.9 percent below where they were for the same period a year ago, according to new data from the California Building Industry Association.

More info:

http://www.cbia.org/go/cbia/newsroom/press-releases/housing-starts-continue-

downward-trend-in-june-cbia-announces/

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ED DILWORTH FEATURED SPEAKER FOR TECH TUESDAY OCT. 14 It has never been more crucial to the success of the real estate industry to stay on top of today's tech trends and anticipate the needs of current and future clients when it comes to technology, online user platforms, applications, products, and services.

Join Ed Dilworth, CEO of Nimblefish Technologies for what promises to be an invigorating forum on the changing face of technology and its impact on the real estate industry during this year's Tech Tuesday luncheon titled "The Rise of the Machine: How Technology is Changing the Buying and Selling of Real Estate."

Tech Tuesday on Tuesday, Oct. 14, is a paid event preceding CALIFORNIA

REALTOR(R) EXPO 2008 and includes a full day packed with educational seminars focused on the interconnection between technology and real estate.

This premier event also is where REALTORS(R) can obtain hands-on training on how to use the latest tools they need to boost their bottom line.

Among the list of educational seminars planned for Tech Tuesday are:

- Search engine marketing for REALTORS(R)

- Blogging to boost your bottom line

- Marketing 2.0: Using online tools to connect with clients

- Tools for transactions: Forms Advisor(tm) and Forms Tutor(tm) with

WINForms Online(R)

- Social Networking: Maximizing your online voice

- Flip video, digital cameras, and other tools of the trade

- Hands on Computer Training on Microsoft Word and PowerPoint

Nominal fees apply for Tech Tuesday, all luncheons, and REALTOR(R) Night Out. For more information or to register, go to www.realtorexpo.org and click on "register."

More info: http:www.realtorexpo.org

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NEW SINGLE-FAMILY HOME CONSTRUCTION DECLINES 3.5 PERCENT IN JUNE Construction of new, single-family homes across the country as reflected by issued building permits in June declined 3.5 percent to 613,000 units, compared with 635,000 units in May, according to the latest data from the U.S. Dept. of Commerce. Nationwide, new home construction in June was at 1,091,000 units, 11.6 percent higher than the revised May rate of 978,000, but 23 percent below June 2007. Housing starts were up 0.9 percent in the West.

More info: http://www.census.gov/const/newresconst.pdf

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LEADING INDEX DECLINES 0.1 PERCENT IN JUNE The U.S. leading index decreased 0.1 percent in June, marking the second consecutive monthly decline. The Leading Index, which now stands at 101.7, is used to estimate future economic activity and is based on performance of 10 key economic components, including unemployment figures; manufacturers'

orders; residential building permits; and consumer sentiment.

More info:

http://www.conference-board.org/utilities/pressDetail.cfm?press_ID=3435

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* * * Advertiser * * *

Learn the art and science of marketing on the internet! Don't miss this free opportunity to obtain proven techniques changing the way agents market real estate in today's market. <a href=http://mailer.carwebs.org/news/Newsline/passurl.asp?ad=414&adsid=323>Cl

ick here to learn more and register now!</a> ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

START YOUR ENGINES FOR EXPO'S REALTOR(R) NIGHT OUT OCT. 15 Schmooze with "surprise" guests; slip into your best Monte Carlo getup, and enjoy a lively casino hall during the CALIFORNIA REALTOR(R) EXPO 2008

REALTOR(R) Night Out, titled "Grand Prix Game Night," set for Wednesday, Oct. 15 from 6 p.m. to 10 p.m.

REALTOR(R) Night Out provides a great opportunity for EXPO attendees and their guests to cut loose with their peers, family, and friends after a full day of attending info-packed seminars and visiting exhibitors in the trade show hall. This year's REALTOR(R) Night Out includes dancing, cocktails and a fully loaded hors d'oeuvre barb

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Wednesday, July 16, 2008
In this Issue:

* FED ANNOUNCES PLANS TO FINANCE FANNIE AND FREDDIE IF NECESSARY

* AUSTIN BOARD OF REALTORS(R) PROVIDES CLARUS(tm) MARKETMETRICS AS MEMBER BENEFIT

* FED APPROVES NEW RULES FOR MORTGAGE LENDERS TO PROTECT CONSUMERS

* C.A.R. DISASTER RELIEF FUND OFFERS SUPPORT FOR VICTIMS OF NORTHERN CALIFORNIA WILDFIRES

* FIVE CALIF. CITIES ON LIST OF FASTED-GROWING; VICTORVILLE IS SECOND IN THE NATION

* EXPO CLOSING LUNCHEON FEATURES BEST-SELLING AUTHOR JOSEPH A. MICHELLI

* NEW HOME SALES IN CALIFORNIA DECLINE 51 PERCENT IN MAY

* CALIFORNIA ENACTS FORECLOSURE REFORM LAW TO PROTECT HOMEOWNERS FACING DEFAULTS

* CEO CONFIDENCE IN ECONOMY SHOWS LITTLE SIGNS OF IMPROVEMENT IN SECOND QUARTER

* C.A.R. GREEN TIP OF THE WEEK: BLU-RAY DISCS SHRED

FED ANNOUNCES PLANS TO FINANCE FANNIE AND FREDDIE IF NECESSARY The Fed announced Sunday that the White House and Federal Reserve will loan Fannie Mae and Freddie Mac the capital they may need to ride out the nation's housing crisis, granting the Federal Reserve Bank of New York authority to lend money to the two mortgage giants, if necessary, both of which are suffering from losses tied to record numbers of home loan foreclosures.

"This authorization is intended to supplement the Treasury's existing lending authority and to help ensure the ability of Fannie Mae and Freddie Mac to promote the availability of home mortgage credit during a period of stress in financial markets," the Fed said in a prepared statement.

The announcement followed Treasury Secretary Henry Paulson's announcement of plans to obtain congressional approval to buy stock in Fannie and Freddie in exchange for a role as consultant over the two companies' financial practices. The request is now being considered by Congress as part of a sweeping housing package.

More info:

http://www.federalreserve.gov/newsevents/press/other/20080713a.htm

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AUSTIN BOARD OF REALTORS(R) PROVIDES CLARUS(tm) MARKETMETRICS AS MEMBER BENEFIT C.A.R. subsidiary Real Estate Business Services Inc. (REBS) and the Austin Board of REALTORS(R) (ABoR)on Tuesday announced that ABoR has signed an agreement to provide Clarus(tm) MarketMetrics as a free member benefit.

Clarus(tm) MarketMetrics is designed to enhance a REALTOR(R)'s real estate market knowledge using market-oriented, comprehensive Web-based tools.

Launched April 1, Clarus(tm) MarketMetrics positions the REALTOR(R) as the consumer's trusted advisor by providing up-to-date, relevant local market data that even the savviest client will value.

"Clarus(tm) MarketMetrics strengthens our members' position as the experts of the Austin real estate market by providing them with instant access to market trends and pricing analysis using MLS data," said Beth Gatlin, director of member services at the Austin Board of REALTORS(R). "This product differentiates our members by enabling them to communicate market insights to their clients more effectively."

Clarus(tm) MarketMetrics, which retails for $360 for an annual subscription, is one of the latest tools in the Clarus(tm) REsource product line provided by REBS.

More info: http://www.car.org/index.php?id=Mzg1NDg=

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* * * Advertiser * * *

Advertise in the Los Angeles Times at the LOWEST PRICE EVER. Open House & By Appointment Directory, $29 for a basic package! Your ad will be seen in print and online. Discount ends July 23 at noon. <a href=http://mailer.carwebs.org/news/Newsline/passurl.asp?ad=421&adsid=322>CL

ICK HERE</a> to order and use discount code CAR29 

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FED APPROVES NEW RULES FOR MORTGAGE LENDERS TO PROTECT CONSUMERS The Federal Reserve Board on Monday approved a set of new rules, effective Oct. 1, 2009, pertaining to home mortgage loans aimed at better-protecting consumers and ensuring responsible lending practices. The new rules prohibit unfair, abusive, or deceptive home mortgage lending practices and restrict certain other mortgage practices.

In addition, the rules establish a new set of advertising standards for the mortgage lending sector and require certain mortgage disclosures to be given to consumers earlier in the home-buying transaction.

"The proposed final rules are intended to protect consumers from unfair or deceptive acts and practices in mortgage lending, while keeping credit available to qualified borrowers and supporting sustainable homeownership,"

said Federal Reserve Chairman Ben S. Bernanke.

More info:

http://www.federalreserve.gov/newsevents/press/bcreg/20080714a.htm

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C.A.R. DISASTER RELIEF FUND OFFERS SUPPORT FOR VICTIMS OF NORTHERN CALIFORNIA WILDFIRES C.A.R. members and REALTOR(R) association staff impacted by the recent Northern California wildfires may apply for financial assistance from the C.A.R. Disaster Relief Fund. The C.A.R. Disaster Relief Fund distributes grants of between $1,000 and $10,000 to REALTORS(R), their family members, and local association staff who have lost their homes or businesses as a result of a natural disaster.

To receive an application to request a grant from the C.A.R. Disaster Relief Fund, call Elizabeth de Carteret at (213) 739-8308, or send an e-mail to elizabethd@car.org.

If you would like to make a tax-deductible donation to the C.A.R. Disaster Relief Fund, please make checks payable to the California Community Foundation, and write "C.A.R. Disaster Relief Fund" on the "memo" line.

Send checks to the California Community Foundation, 445 S. Figueroa St., #3400, Los Angeles, CA 90071-1638.

More info: http://www.car.org/index.php?id=MzIzMTU=#relief

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* * * C.A.R. Member Advantage Partner * * *

Bank of America and C.A.R. team up to bring you the C.A.R. WorldPoints MasterCard credit card: Enjoy the rewards! Earn points and get the rewards you want with no annual fee. Show the card that shows you're a REALTOR! <a href=http://mailer.carwebs.org/news/Newsline/passurl.asp?ad=419&adsid=322>Cl

ick here</a> to learn more! 

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* * * Advertiser * * *

HomeOwner's Guide. Free marketing tool for C.A.R. members.

http://mailer.carwebs.org/news/Newsline/passurl.asp?ad=152&adsid=322

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FIVE CALIF. CITIES ON LIST OF FASTED-GROWING; VICTORVILLE IS SECOND IN THE NATION While there are signs of a slowdown in migration to the West and sunbelt region, California continues to see steady population growth, placing five cities on the list of the 25 fastest-growing large municipalities in the country between 2006 and 2007, according to new population estimates from the U.S. Census Bureau.

According to the report, Victorville, Calif. saw a population increase of

9.5 percent to 107,232 in 2007, putting the San Bernardino County city second on the list of the nation's fastest-growing large cities with populations of 100,000 or more. New Orleans ranked number one on the list, with a population increase of 13.8 percent to 239,124 after a seeing its population in 2005 dwindle to half in the wake of Hurricane Katrina.

The other four California cities that made the list are Bakersfield; Irvine; Moreno Valley; and Visalia.

More info:

http://www.census.gov/Press-Release/www/releases/archives/population/012242.

html

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EXPO CLOSING LUNCHEON FEATURES BEST-SELLING AUTHOR JOSEPH A. MICHELLI Ever wonder what it takes to build up a brand and keep customers coming back for more? Find out by joining Joseph A. Michelli, Ph.D, best-selling author, organizational psychologist, business consultant, and radio host, during the California REALTOR(R) EXPO Closing Luncheon, "The Starbucks Experience," Thursday, Oct. 16 from Noon to 1:30 p.m.

Michelli will be sharing his findings from his in-depth analysis of the Starbucks business model and the popular coffee chain's highly successful customer service platform, which he has compiled in a national bestseller:

The Starbucks Experience: 5 Principles for Turning Ordinary into Extraordinary.

CALIFORNIA REALTOR(R) EXPO 2008, the state's largest real estate trade show running October 14-16 at the Long Beach Convention Center, offers two full days of valuable educational programs, special events, and networking opportunities designed to help REALTORS(R) navigate the market ahead.

Tech Tuesday on Tuesday, Oct. 14, is a paid event preceding EXPO and includes a full day packed with educational seminars focused on the interconnection between technology and real estate. This premier event is where REALTORS(R) can obtain hands-on training on how to use the latest tools they need to boost their bottom line. This year's Tech Tuesday luncheon is titled "The Rise of the Machine: How Technology is Changing the Buying and Selling of Real Estate," and features guest speaker Ed Dilworth, CEO of Nimblefish Technologies.

More info: http://www.realtorexpo.org

********

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* * * Advertiser * * *

Leaders Come to Connect! 

Keep up-to-date with market conditions, real estate marketing trends and Hot technologies. C.A.R. members get a special discounted rate of $579. Full program at inman.com/connectsf. <a href=http://mailer.carwebs.org/news/Newsline/passurl.asp?ad=413&adsid=322>Cl

ick here to REGISTER NOW!</a> 

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NEW HOME SALES IN CALIFORNIA DECLINE 51 PERCENT IN MAY Sales of new homes in California declined 51 percent in May compared with the same month in 2007, reversing a recent trend of year-over-year declines, which had narrowed to 44 percent in April, and 49 percent in March, according to new data from the California Building Industry Association (CBIA).

More info:

http://www.cbia.org/go/cbia/newsroom/press-releases/declining-new-home-sales

-emphasizes-need-for-action-cbia-declares/

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CALIFORNIA ENACTS FORECLOSURE REFORM LAW TO PROTECT HOMEOWNERS FACING DEFAULTS The State Legislature last week enacted a set of foreclosure reforms to address the adverse effects of high foreclosure rates in California. The new law requires lenders to contact homeowners to explore options for avoiding foreclosure at least 30 days before filing a notice of default.

The law also requires owners acquiring property through foreclosure to maintain the exterior of vacant residential properties, and extends from 30 to 60 days the time for residential tenants to vacate properties that have been foreclosed upon, unless other laws apply.

For highlights of the new law and links to the text of the legislation, go to http://www.car.org/index.php?id=Mzg1NDY=.

More info: http://www.car.org/index.php?id=Mzg1NDY=

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CEO CONFIDENCE IN ECONOMY SHOWS LITTLE SIGNS OF IMPROVEMENT IN SECOND QUARTER Confidence among the nation's CEO's in the economy, which declined to 38 during the first quarter of 2008, inched up slightly to 39 in the second quarter, according to the latest CEO Confidence Index from The Conference Board.

"CEOs continue to rate current economic conditions as unfavorable, and their short-term expectations suggest this slow growth environment will exist for the remainder of the year," said Lynn Franco, director of The Conference Board Consumer Research Center.

More info:

http://www.conference-board.org/economics/indicatorsExpectations.cfm

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C.A.R. GREEN TIP OF THE WEEK: BLU-RAY DISCS SHRED Blu-ray discs hold five times more content than traditional compact discs and are composed of 50 percent paper, allowing them to be shredded, and making them easier to dispose of than traditional compact discs.

C.A.R.'s "Green Tips" are part of the Association's effort to raise member awareness about environmentally sound practices and offer REALTORS(R) ideas for greening their business practices and better serving their green-minded consumers. For more green real-estate-related tips and discussion, visit C.A.R.'s green blog: http://www.car.org/blogs/index.php.

More info: http://www.car.org/blogs/index.php.

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Calif. median home price - May 08: $384.840(Source: C.A.R.) Calif. highest median home price by C.A.R. region May 08: Santa Barbara So.

Coast $1,199.000(Source: C.A.R.)

Calif. lowest median home price by C.A.R. region May 08: High Desert

$200,740(Source: C.A.R.)

Calif. First-time Buyer Affordability Index - First Quarter 08: 44 percent

(Source: C.A.R.)

Mortgage rates - week ending 07/10/08

30-yr. fixed: 6.37 Fees/points: 0.6%

15-yr. fixed: 5.91 Fees/points: 0.6%

1-yr. adjustable: 5.17 % Fees/points: 0.5% (Source: Freddie Mac)

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The CALIFORNIA ASSOCIATION OF REALTORS(R) is a trade association

representing nearly 200,000 REALTORS(R) statewide.

Edited by Mark Giberson, markg@car.org

Executive offices: 525 South Virgil Ave., Los Angeles CA 90020

Phone (213) 739-8200; fax (213) 480-7724

Legislative offices: 980 Ninth St., #1430, Sacramento CA 95814

Phone 916-492-5200; fax 916-444-2033

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To view C.A.R.'s Privacy Policy click on this link:

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If you wish to update the e-mail address to which this newsletter is

sent, please do not reply to this e-mail.

E-mail address change requests must be directed to your local

Association, the Lodi Association of REALTORS. at lodiaor@softcom.net

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