VanEd Newslog

Your clients want to improve the energy efficiency of their home. Where to start?

Maybe your clients want to qualify for an energy efficient mortgage, or maybe they just want to make their existing house more efficient. In either case, the best place to start is with a home energy rating.

An energy rating can provide a home owner with a detailed picture of their home’s energy performance, and also recommend the most appropriate and cost-effective options for improving its efficiency. Many times, these energy efficiency upgrades can significantly increase a property’s resale value!

Energy ratings are performed by Certified Home Energy Raters, and can be performed on both new and existing homes. They may also be used to qualify a home for an energy-efficient mortgage.

This information is brought to you by VanEd and EcoBroker. For more information on Home Energy Ratings, click here to read an article from EcoBroker. You can learn more about the EcoBroker designation by visiting www.vaned.com/EcoBroker.

Colorado Governor Bill Ritter proclaims April 21-16 Foreclosure Prevention Awareness Week

Colorado Gov. Bill Ritter proclaimed April 21-26 as Foreclosure Prevention Awareness Week, which is a result of a $1.5 million National Foreclosure Mitigation Counseling grant that was recently awarded to CHFA. The grant will allow CHFA to support marketing and outreach activities that guide homeowners at risk of foreclosure, as well as support the Colorado Foreclosure Hotline.

This week CHFA, the Colorado Division of Housing and Brothers Redevelopment, who operate the Foreclosure Hotline, have organized outreach activities that are meant to raise awareness about free counseling resources that are available to those who are at risk of foreclosure.

One of the events where outreach will take place this week will be the Adams County Housing Fair, which will be held on April 26th at the Adams County Fairgrounds from 10am to 3pm Saturday.

Click the link to learn more about the Colorado Foreclosure Protection Hotline, and you may also view a YouTube video about the hotline.

Teenagers' Flunk Basic Financial Knowledge

The Federal Reserve recently released survey results detailing the lack of financial knowledge of American high school students.  High School seniors answered an average of 48% correct of a basic financial knowledge quiz. When asked to choose the likely highest return over the next 18 years, only 17% chose stocks over savings bonds, savings accounts and checking accounts. 33% thought that a person can only check credit record for free if you are turned down for credit based on a credit report.

22% of the students thought that retirement income paid by a company is called Social Security.  This is an especially chilling reminder of the impending tsunami of retirees, these students' parents and grandparents, many of whom are not financially prepared to retire.   The survey results have gone down every year.  If the parents and grandparents of these students aren't financially ready to retire at a standard retirement age, will these high school seniors ever be able to retire?

Guest Authors Bill Humphrey and Catherine Wynne are Principals with Entrust New Direction IRA. Reach them online at www.newdirectionira.com.

Note: College students' financial literacy also was tested this year. They answered 62 percent of the questions correctly.

RESO approves draft format for sharing MLS data

The Real Estate Standards Organization, or RESO, has recently approved a draft of the updates to the standardized data format for distributing real estate listing information know as RETS, or the Real Estate Transaction Standard.

The new standard is designed to allow Multiple Listing Services and other industry organizations, including Zillow, Google and others, to more easily and effectively share property information and get that information to consumers more efficiently. The idea is to have the same information available for use on multiple real estate sites thus saving both time and money for the industry and the consumer.

Some of the partner organizations to the RESO will begin implementing the new standards immediately and then deliver feedback to the partners in August, when it is expected that a vote for final approval on the RETS will take place.

Van Education Center celebrates our 10th Anniversary!

Today Van Education Center (www.vaned.com) celebrates our 10th anniversary, and we wanted to take just a moment to thank all of our students, members, association partners, affiliates and YOU! You have helped make VanEd a nationwide leader in distance education for real estate, appraisal and mortgage brokers.

VanEd opened in 1998 as the first online real estate pre-license school in Colorado, and was one of the first online real estate education providers in the country. VanEd followed by teaching Continuing Education online. The next few years saw the online Appraisal program develop and VanEd became the online home to the Colorado Association of REALTORS® GRI, Graduate REALTOR® Institute program.

Today VanEd offers courses in more than 30 states, and is a recognized leader in online education. We  are proud to have been able to serve the industry for the past decade, and we are excited about the opportunities ahead. We will continue to provide the highest quality education and service to the highest caliber students.

And from all of us who have had the privilege of assisting our students over the years, we thank you for your support and look forward to the coming decade. And remember, whether you are currently a student or are planning a career in real estate, appraisal or the mortgage industries, we want you to know that our commitment to you remains the same. As always, we are here to help!

Notes from the Field: Energy Efficient Appliances

Energy Efficient appliances can benefit each of us. There are both direct benefits to installing energy efficient appliances, such as a reduced electric bill. There are also indirect benefits such as quieter operation of devices and energy savings in general.

But what appliances are energy efficient and will save you the most money? The American Council for an Energy-Efficient Economy has made available a Consumer Guide to Home Energy Savings online that will, among other things, list the potential savings and even rebates that may be available for trading in an older appliance. You can view the guide online using the link below. EcoBroker has also published an article designed to give brokers and customers information regarding Energy-Efficient Appliances which can be viewed online by clicking here.

>>>>> Consumer Guide to Home Energy Savings

This reliable green information is brought to you courtesy of the EcoBroker Certified® professional designation, currently offered by VanEd. Find out more online at www.vaned.com/ecobroker.

Colorado REALTORS® for Education Charity Grant program application deadlines approaching

The Colorado REALTORS^® for Education Charity Grant program Spring grant cycle applications continue to be accepted online. Teachers interesting in applying for a grant can find more information and may apply online at www.vaned.com/charity. The program is built with cooperation between CAR and VanEd and is funded from the online GRI program. Private donations and matching funds are also accepted.

The grant cycle will run through February, but teachers are reminded that each application must be verified by an administrator prior to being eligible for review by the board. Applicants should allow enough time to meet all application deadlines, and get the administrator approval.

Application Deadline -            Administrator Approval Deadline -

For questions about the program, visit www.vaned.com/charity or email Mark Gavin at CAR

CREC approves Short Sale Addendum and Seller Authorization forms

At the February meeting of the Colorado Real Estate Commission, two new forms were approved dealing with short sales. The Short Sale Addendum, designed to be added to a transaction file whenever a short sale is involved, and the Seller Authorization form. The authorization form should be used at the time of listing to allow the lien holder to supply loan information to specific people involved in the transaction. The Short Sale Addendum is to be used with the Contract to Buy and Sell, and will allow various parties access to information and place certain filing deadline obligations on the seller.

>>>Click Here to view the Seller Authorization form

>>>Click Here to view the Short Sale Addendum

Both of these new forms are Mandatory for use in Colorado beginning March 31, 2008. VanEd has added both of these new forms to our Colorado Residential Contracts continuing education course. That course is available online at www.vaned.com.

Nebraska Governor's Showcase Community designation accepting applications now

Now through February 20th, the Nebraska Department of Economic Development (DED) is accepting nominations for the SHOWCASE COMMUNITY award. The winning community will receive the award from Nebraska Governor Dave Heineman on March 25 in conjunction with activities surrounding National Community Development week, scheduled for March 24-30, 2008.

Communities eligible to be nominated for the award must identify community development goals, and display that they can combine local, state and federal resources to complete high profile projects that have positive impacts on the community.

For more information or a Community Nomination form, click here. For information and ideas on how your community can celebrate Community Development week, click here.

Notes from the Field: Solar Demand to Drop Prices Up to 40%

Solar energy has enormous potential in the real estate industry, but currently is not a very practical option for the average homeowner. Ninety percent of Americans believe that solar should be an option for all new home construction. Recent news brings the affordability issue to the forefront as a report from the WorldWatch Institute revealed that the increased demand for solar panels will cut prices up to 40% in the next three years.

Send this news brief to your sphere of contacts in one of your newsletters or e-mail contacts. Ninety percent will be interested in the latest information on solar energy.

This reliable green information is brought to you courtesy of the EcoBroker Certified® professional designation, currently offered by VanEd. Find out more online at http://www.vaned.com/ecobroker/.

Another rate cut from the Federal Reserve

The Federal Open Market Committee today lowered the target federal funds rate to 3 percent. This marks a 50 basis point reduction from the previous target rate.

In its press release the committee stated that it expects inflation to moderate in the coming quarters, and that recent information indicated a "deepening of the housing contraction" as one factor in its decision. The Committee expects that this step, along with the earlier rate cuts, will help to promote moderate growth and help to mitigate risk to the economy.

The Board of Governors also unanimously approved a 50 basis point decrease in the discount rate (down to 3.5%).

Happy New Year! Here’s a Thousand Dollars!

OK, so the IRS isn’t really giving you $1,000, but if you are an IRA owner, you can contribute an additional $1,000 this year, tax-free or tax-deferred, depending on your retirement plan. Your salary may not rise with the cost of living, but thankfully the IRS does change with the times, at least for Traditional and Roth IRA owners. The annual contribution will jump $1,000 to $5,000 allowed contribution for 2008 (plus an extra $1,000 if you're over 50). Please note that after April 15th, 2007, you cannot deposit the 2007 contribution to your IRA if you haven't already.

And remember, if you haven't opened a Roth or Traditional IRA, you can still open a 2007 IRA until April 15th, 2008. You could contribute $4,000 for 2007 and $5,000 for 2008. If you use this extra $1,000 to invest wisely in a self-directed retirement plan, you may look back at that extra $1,000 from 2008 when you're ready to retire and think it really was a gift from the IRS.

Guest Authors Bill Humphrey and Catherine Wynne are Principals with Entrust New Direction IRA. Reach them online at www.newdirectionira.com.

Notes from the Field: What is Radiant Floor Heating?

My seller’s home has radiant floor heating. Great, but what exactly is that?

Radiant floor heating systems supply heat directly to the floors of a home, and can be a great alternative to the more traditional methods of heating a home, such as forced air and baseboard heating. The most popular and most efficient type of radiant floor system is hydronic (liquid) floor heating. Hydronic systems heat water in a boiler and then pump it through a series of tubes laid in an organized pattern beneath the floor. Radiant systems are gaining popularity because they are typically more efficient than traditional heating applications, and are known for providing superior comfort to occupants.

The EcoBroker Certified professional designation has prepared an informational article on radiant floor heating that can be shared with customers and clients. This information can be found by Clicking Here or by clicking the link below. VanEd proudly offers the EcoBroker Certified professional designation courses online. Find out more by Clicking Here, or using the link below.

   >>> Click Here for more information on Radiant Floor Heating

   >>> Click Here for more information on the EcoBroker Certified professional designation program

Notes From the Field: Your Child Needs a Roth This (Post-)Christmas

Your children or grandchildren may still be enjoying their Christmas or Hanukkah presents, playing with their toys and listening to the music, but there is one more present that, while it was not on any child’s list, could make them happy long after you’re gone.

If your child earned any amount of money in 2007, you can open a 2007 Roth IRA in their name anytime until April 17, 2008. Household chores don’t count, and you can only contribute as much as your child earned, (up to $4,000 in 2007), but if your child or grandchild mowed the neighbor’s lawn for $5, they can open a tax-free retirement account. Tax-free because, unlike a standard IRA, once the contribution is taxed normally, that money, and all the money you can earn with that money, is never taxed again.

While most children (and adults) are not too excited about saving for retirement, the Roth allows many early withdrawals without penalty. For example, once the Roth is 5 years old, and your child is 18, they can withdraw up to $10,000 for a first-time home purchase. In addition, the principal can be withdrawn at any time without penalty. Also, if the unthinkable happens, the Roth IRA money can be used for unusual medical expenses.

Once your child is 18 (in most states), they gain complete control of the IRA. This means they can choose to take the 10% tax penalty and withdraw all that hard-earned money to buy themselves anything they want. Of course, you don’t have to tell them about this option until they’re 28.

Guest Authors Bill Humphrey and Catherine Wynne are Principals with Entrust New Direction IRA. Reach them online at www.newdirectionira.com.

Notes from the Field: Who is watching your retirement money?

On Monday, November 26, The US Supreme Court began to hear the case of James LaRue, who claims he lost $150,000 when his 401(k) plan administrators did not follow his directions to remove his money from a high-risk stock fund. LaRue’s case was thrown out of lower courts because the federal law over retirement benefits and pensions does not allow citizens to sue over loses in retirement accounts. This mind-boggling statement should be repeated. Right now, in the United States, if your securities-based retirement plan administrator doesn't follow your direction, you cannot sue the company.

Hopefully for the individual, the Supreme Court will overturn that law, but the fact that this case had to go to the Supreme Court is a prime example of why many people are choosing to move their retirement funds to a self-directed retirement account, which is exactly as it sounds – self-directed. Self-directed administrators are competing for business, which gives the individual freedom of choice, not only with their investments, but also when choosing the self-directed IRA administrator.

Whatever the Supreme Court decides, more and more people are choosing the route of self-direction, where only you are responsible for your retirement money.

Guest Authors Bill Humphrey and Catherine Wynne are Principals with Entrust New Direction IRA. Reach them online at www.newdirectionira.com.

Notes from the Field: Reduce your Carbon Footprint!

We all contribute to global warming every day. By calculating your carbon footprint, you can learn how much carbon dioxide your daily activities produce and the simple things you can do to reduce the impact you have on our environment. Get your kids involved with activities such as recycling and composting. Not only is it important to reduce your impact, but to teach your children how and why it is so important. Use the tools at the following address to begin making a difference:

                                                              http://www.nature.org/initiatives/climatechange/calculator/

You can also share this brief link to clients and help them to learn more about saving energy and money through "green" living.

Receive timely green information by signing up for EcoBroker's free newsletter. Click Here to sign up. This reliable green information is brought to you courtesy of the EcoBroker Certified(R) professional designation, currently being offered by Van Education Center. Find out more online by visiting:

                                                               www.vaned.com/EcoBroker.

Nebraska to join Nationwide Mortgage Licensing System

The Nebraska Department of Banking Finance (NDBF) announced in September plans to join the NMLS, or Nationwide Mortgage Licensing System. The system was created by a joint task force with members from over 20 states. The task force met regularly for more than two years to develop the groundwork for the program. The group then contracted with the National Association of Securities Dealers (NASD) to develop and manage the system.

The system allows a mortgage licensee to complete one set of application forms to apply to all participating states. The forms are all uniform and include a Biographical Statement, Branch office and even an individual registration and consent form.

The new system is also web-based, which will allow Nebraska mortgage brokers and lenders to apply, update or renew their license online. Regulators will have access to all licensing information. There is a two-part process to set up a record on the NMLS for licensees, according to a press release from the NDBF. The forms and notifications are available online at the NDBF web site.

HUD ban on private down-payment asisstance put on hold by court

A Federal court issued a temporary order on October 31st that halts implementation of a ban by the Department of Housing and Urban Development, or HUD, on private Down Payment Assistance companies. In the ruling the U.S. District Court states that HUD's ruling lacked a "reasonable analysis"/ The new rule might put some companies out of business.

This temporary order will allow all Down Payment Assistance programs, such as Nehemiah and AmeriDream, to continue to operate and offer assistance to FHA borrowers while the lawsuit is heard in court. Both Nehemiah and AmeriDream filed suit in U.S. District court to overturn the HUD rule back in the beginning of October. Other plaintiffs include The Genesis Foundation and the Sovereign Grant Alliance. The rule had been set to take effect October 31st until the injunction was issued by the court.

Notes from the field: Will Social Security be Secure?

Social Security preservation has finally hit the campaign trail. Both John Edwards and Hillary Clinton have recently expressed concerns about the health of social security. Remedies could include both greater fiscal responsibility and eliminating the current $97,500 income limit for the social security tax. Experts predict that consumers will be expected to shoulder the burden of their retirement through IRA, Roth and SEP accounts, in addition to Health Savings Accounts, a new tax-deferred/tax-free savings option for every American.

Investing IRA assets in real estate is an opportunity that real estate agents and their customers may have previously overlooked, but that may become a more popular option. You can learn about these individual retirement options in various classes offered online by Van Education Center.

Guest Authors Bill Humphrey and Catherine Wynne are Principals with Entrust New Direction IRA.They believe that education is the most important ingredient when self directing into non-traditional investments. Reach them online at www.newdirectionira.com

CARHOF set to raffle off a house at CAR Convention

The CARHOF Raffle ends this week and the odds of winning are fantastic! The drawing will be October 24th at the CAR State Convention. VanEd will have a booth at the convention, so stop in and say hello!

This years Grand Prize in the CARHOF raffle is a new home built by Sanctuary Homes valued at $300,000. The winner may also choose to take $200,000 in cash. Only 10,000 tickets were scheduled to be sold in the raffle at $100 a piece. However, at this time CARHOF is reporting that only around 2000 tickets have been sold so far. This means that with ticket sales ending this week (the drawing will be held in Colorado Springs on October 25, 2007) the odds of winning the house are now even better! And CARHOF directs 50% of the profits from ticket sales back to the local associations around the state to support local communities through grant cycles and programs.

For more information you may online to the CARHOF Raffle page. Need tickets? Contact a local REALTOR® or the association office in your area or purchase tickets online using the following link - Purchase Tickets Now!

CAR conducts public policy survey among REALTORS®

The Colorado Association of REALTORS® is conducting a survey in conjunction with NAR asking for members views on public policy issues at every level. Members are encouraged to complete the online survey to help the association target those issues that matter most to the membership and their clients.

For more information, and to find a link to the survey, click here or visit the CAR home page online at www.coloradorealtors.com.

Notes from the Field - 43% of Americans are not ready to retire

How big is your retirement account? For 43% of Americans, from Generation Xers to Baby Boomers, not big enough.

The Center for Retirement Research (CRR) recently released a brief reporting that nearly 45% of households are at risk of not having enough money to retire. Why? One reason mentioned is that now Americans are using 401(k)s and IRAs to retire, not a regular annuity. With 401(k) plans, the individual is responsible for the funding and distribution of the retirement funds.

One possible solution is a self-directed IRA that allows investment in real estate, gold, private placements and LLCs, to name some options. Using investment vehicles that allow you to invest in real estate requires specialized education. Entrust New Direction IRA with an office in Lafayette, Colorado helps people with non-traditional investing and training, and has authored an online course for the MRE, Master of Real Estate Program taught online through VanEd that teaches these concepts and ideas.

For more information, log on to take the Real Estate Investments in IRAs and 401(k)s course online.

Guest Authors Bill Humphrey and Catherine Wynne are Principals with Entrust New Direction IRA.They believe that education is the most important ingredient when self directing into non-traditional investments. Reach them online at www.newdirectionira.com.

Did you know? VanEd offers personal financial management program online for bankruptcy filers

Van Education Center is host to the online Personal Financial Management Program, a required debtor education step in the bankruptcy process under recent law changes. The program is completed online post-filing and has been accredited in every jurisdiction in the U.S. The program is part of the VanEd Adult Education network of programs.

The U.S. Trustee Program announced on September 10th, 2007 that the waiver of credit counseling and debtor education requirements for bankruptcy filers will be extended in the Eastern District of Louisiana due to the continued effects of Hurricane Katrina. the waivers in the Middle and Western Districts of Louisiana and the Southern District of Mississippi will be terminated effective March 10th, 2008.

CARHOF gets ready to Raffle the Grand Prize ~ A New Home!

The 2007 CARHOF raffle will again benefit the Colorado Association of REALTORS® Housing Opportunity Foundation, which works to promote affordable housing opportunities in Colorado.

This years Grand Prize is a new home built by Sanctuary Homes valued at $300,000. The winner may also choose to take $200,000 in cash. Only 10,000 tickets were scheduled to be sold in the raffle at $100 a piece. However, at this time CARHOF is reporting that only 1700 tickets have been sold so far and only 4400 tickets have been distributed. This means that with ticket sales ending in just over a month (the drawing will be held in Colorado Springs on October 25, 2007) the odds of winning the house are now even better! And CARHOF directs 50% of the profits from ticket sales back to the local associations around the state to support local communities through grant cycles and programs.

For more information you may online to the CARHOF Raffle page. Need tickets? Contact a local REALTOR® or the association office in your area or purchase tickets online using the following link - Purchase Tickets Now!

REALTOR Safety Week September 9th - 13th ~ Protect yourself

We are all reminded that our own personal safety is more important than that late night meeting in a vacant house. Remember to be on alert when showing houses and driving in a car with clients and customers. As part of REALTOR® Safety Week, we want to remind you to be aware of potential threats and institute a personal safety plan in your office.

In 2001 a Washington real estate agent was murdered and in response the Real Estate Safety Council was formed. They created a pamphlet highlighting many safety tips and agent resources. A copy of that can be found online by clicking here.

Some tips from us and from the real estate safety council; Use the buddy system and show houses with a co-worker. Have a call-in safe word for your office staff, and always let the office know who you will be meeting and where you will be going. Require your first meeting to be at your office and make copies of the Drivers License of each client to leave them that, along with a filled out New Customer form, with your office staff prior to departing on showings. When you head off for that evening listing appointment at a potential sellers home, take your buddy with you or have them either call you or you call them at specified intervals during the evening.

Every office or Buddy team should also have a distress code. This way when an agent in the field feels something is not right, or that they may be in danger, they can call in and use the distress word to let the office or their buddy know they need help.

These are just a few tips and ideas, but the most important safety tip is up to you; be aware, stay prepared. For more information on REALTOR® Safety week, visit the Realtor.org web site and read a special message from NAR President Pat V. Combs. There are videos on safety and even an online course that you can take to identify more ways to protect yourself.

Colorado REALTORS® for Education program opens Fall application cycle today

The Colorado Association of REALTORS® and Van Education Center (VanEd.com) are proud to announce their combined effort aimed at assisting Colorado's classroom teachers. The REALTORS® for Education Foundation is a non-profit program designed at making direct grant donations to classroom teachers in need of funds to run classroom programs.

Fall Grant cycle applications are now being accepted! The open application period begins today, September 10th, 2007 and will run through October. The application is available for teachers and will be submitted online. $3,000 dollars is the limit for each grant application in this grant cycle. For more information and to make application teachers should visit http://www.vaned.com/charity.

VanEd is proud to be a part of this fantastic partnership with the REALTOR® community.

Donations to the fund may also be made online, and the not-for-profit foundation awards 100% of all donated funds in the form of grants. Know a teacher in need of funds to run a classroom project? Have them apply for a grant! The Foundation board of directors will award grants in November. Click here for more information or to donate to the fund!

You can also view and print an informational flyer regarding the program online. Click here to view the flyer!

VanEd offices closed for Labor Day

The Van Education Center offices will be closed today to allow our staff and instructors the opportunity to spend time with family and friends. We wish all those who work to make their lives better the best as we celebrate the American worker. Our offices will re-open on Tuesday September 4th.

If you are a student with questions, please post them on-line within the Q & A system for the fastest response. If you have a question about any course or service, please email us at info@vaned.com. Our team will get back to you as quickly as possible.

Want to learn about the origins of Labor Day? Click here for the history on the Department of Labor web site!

Consumer advisory issued on Foreclosure Rescue Services

The Nebraska Department of Banking & Finance issued an advisory last week urging consumers to be cautious when working with foreclosure rescue companies. The advisory stems from inquiries to the Department from consumers as rescue companies offer to take ownership of a distressed homeowners property.

The deal may work like this; the rescue company (or an individual) offers to take the property over and make the payments on the mortgage, allowing the homeowner to rent back the property and purchase the home back at a later date. The distressed homeowner may feel pressure to sign documents and relinquish ownership. The rescue company then assumes the remaining equity in the property and may sell the property at any time. The promise to keep the homeowner from foreclosure and save the homeowners credit may be used to coerce the homeowner into signing the property over.

The Department advises distressed homeowners to be cautious and contact lawyers or real estate professionals before signing any agreements. The full text of the Department Advisory can be found by clicking here.

Nebraska Real Estate Commission promotes Errors & Omissions seminars

Williams Underwriting Group, Inc., the program administrator for the state of Nebraska's Errors & Omissions Insurance Program, will be conducting a series of seminars as part of the services they provide. The seminars will include a review of loss and claim records, and there will be a discussion of risk management related topics. Dick Williams, Ph.D., CPCU, Chairman of Williams Underwriting Group, Inc., will be conducting the seminars and will also discuss current issues in the industry.

The seminars are being held between September 24th and September 28th in various parts of the state. For more information or to register contact the Nebraska Real Estate Commission.

Colorado Real Estate Commission adopts new contract, names new Education Committee

At their August 7th meeting, the Colorado Real Estate Commission completed a rulemaking hearing to approve a new Buy/Sell contract. After a comment period that concludes Friday the forms committee and staff will review any notes from the commissioners and the public and then prepare to create the final copy of the new CBS1 form. A draft copy of this form is available by clicking here. Comments on the form should be directed to the Commission this week. The final approved form will not be mandatory until January.

The Division also announced the new education committee members at the meeting. They are Susan Plage, current President of the Colorado Real Estate Educators Association (CREEA), Rick Madden, former Director of Education for the Division of Real Estate, George Harvey, President of the Colorado Chapter of Realtors Land Institute, Caren Hunt, CAR Education Director and Curtis Hilty. A staff member from the Division will be assigned to begin working with the committee in the coming weeks.

VanEd Revisits RESPA, attends HUD training

Last week, VanEd attended the "RESPA-1" training class conducted by HUD's Denver Regional office. Some of the highlights from the class are presented here, even though some may not be new information. While HUD expects a revised proposed RESPA rule, it was not certain as to when that rule may be available.

HUD recently changed it rules on who may pay closing charges on an FHA loan, eliminating many formerly restricted provisions. At present closing costs and fees are freely negotiable except for the tax service fee which the borrower may not pay.

Question: Can a real estate broker give money to the seller at closing without violating RESPA? Answer: Yes - as long as it is shown on the HUD-1 settlement statement.

The question often arises as to whether a broker may pay an unlicensed person for leads. This is acceptable provided 1) the payment is a flat fee 2) the payments is not conditional on closing a transaction and  3) the payment is not a sliding amount based on the potential value of the transaction.

The HUD Denver Regional Office covers 17 state for RESPA. There are currently 7 ongoing RESPA investigations in the office. The biggest complaint to HUD is low-ball Good Faith Estimates (GFE). Colorado law was recently revised to require any upward difference between the GFE and the actual settlement costs to the borrower be communicated to the borrower at least 3 days before closing.

Both HUD and the Colorado Division of Real Estate believe their hottest new enforcement issues to be affiliated business arrangements/shams, appraisal issues and mortgage fraud. Erin Toll, Director of the Colorado Division of Real Estate reminded all attendees of the requirement for all licensees to register affiliated business arrangements annually via the Division Website.

Click Here for more information on the Affiliated Business Arrangement disclosure.

Papillion named 6th on CNNMoney.com's "Best Places to Live" list

Money Magazine has placed Papillion, Nebraska as #6 on their annual "Best Places to Live" list. Papillion, just a few miles from Omaha, came in just behind Claremont, CA and just ahead of Milton, MA. The researchers use a combination of demographic and economic data to narrow the list down, and then combine those findings with visits to the local communities where they assess things such as the sense of community and congestion.

To see what cities and towns Papillion beat out, you can read the entire list by visiting CNNMoney.com.

Louisville, Co. named to "Best Places to Live" list....again

Just a year after being snubbed, Louisville is back on the list. After researching over 2,800 cities and looking at education scores, crime rates, demographics and cost of living data, CNNMoney.com listed Louisville, Colorado #3 on its annual "Best Places to Live" list, behind Middleton, Wisconsin and Hanover, New Hampshire. Parker, Co. was ranked #26 on this years list.

The rankings are based on demographics of the areas combined with more qualitative findings such as interviews and natural surroundings. The annual list ranked Louisville #5 in 2005 and Ft. Collins was #1 in 2006.

New Deeds of Trust release form is available in Colorado

The Colorado Public Trustees' Association (CPTA) has made available a writable Full and Partial release of Deed of Trust forms on their web site. These new forms, just completed and put online, were required by HB 07-1265 which required new language and the new form. The bill was signed by Governor Ritter and the forms should be used now for all release requests. The CPTA also has a Foreclosure Information Publication available on their site. The forms are available using the links below.

        Full and Partial Release of Deed of Trust (with Evidence of Debt) - Instructions            

        Full and Partial Release of Deed of Trust (without Evidence of Debt)    - Instructions

        Foreclosure Information Brochure

$4.5 million in Community Development Block Grants (CDBG) announced

On Monday Gov. Dave Heineman announced that almost $4.5 million had been awarded to 29 local Nebraska communities through the CDBG program. The CDBG funding is from the U.S. Department of Housing and Urban Development (HUD), and the process is a partnership with various agencies at both the State and Federal levels.

Projects to be funded through the program include funds dedicated to developing or updating comprehensive plans and study city water systems. The projects may also be considered for other grants or programs. To view the list of Grant recipients, click here or visit the Office of the Governor web site online.

National Affordable Housing Trust Fund Introduced in House

In what would be the largest expansion of Federal Housing programs in decades, H.R. 2895, dubbed the National Affordable Housing Trust Fund, was introduced in the house on Thursday. The bill would allow an estimated $800 million and $1 billion annually to be allocated to affordable housing programs and will allocate 60% of the money to larger cities and counties and the remaining 40% to states and Indian Tribes.

The bill allows for the fund to be used to rehabilitate and preserve affordable rental housing and would also allow for down payment and closing cost assistance for first time home buyers. Targeted ratios for assistance means that 75% of the funds will be directed towards extremely low income families and 100% of monies would be designated for low income families.

Those delivering Trust Fund grants, such as states and localities, would be required to fund all qualified entities, which would include non-profits, for profit and faith based organizations. Funding will be allocated using a funding competition requiring geographic diversity and prioritization of project criteria including project merits and local need for the project. The bill is slated to be heard by the House Financial Services Committee on July 12th, and has already received support from NAR, the NAHB and the National Low Income Housing Coalition. Read more by clicking here.

Realtor.org launches new Housing Opportunity web site

NAR has launched the new Housing Opportunity web site designed to be easier to use and include more resources for agents and the public. The new site, on-line at Realtor.org, includes a definition of Housing Opportunity as well as links to help agents get involved with programs, grants and to keep tabs on changes in affordable housing programs such as Home from Work and the REALTORS® Ambassadors for Cities Program.

Over time the housing solutions page will include information on programs developed and used by REALTORS® and REALTOR® associations to address housing issues locally and at the state level. VanEd offers the MRE course Affordable Housing, which is also included in the MRE, Master of Real Estate designation program for advanced learning.

To learn more about the MRE, visit www.RealEstateMRE.com.

NAR Mid-Year Meetings this week in Washington D.C.

The National Association of REALTORS® is set to hold their Mid-Year meetings in the nations capital all this week. You can view the complete chronological list of all NAR and Affiliate Meetings by Clicking Here. You can also set up your meeting planner using that same site link. Visit the Mid-Year page on-line for more information.

The meetings and events begin today and run all the way through next weekend. The Board of Directors meeting is scheduled for Saturday, May 19th at 8:30am E.T.

TIC: Tenant in Common Investments continue to be defined

The question of weather a TIC, or Tenant in Common, investment is a real estate or securities transaction is drawing responses from both the regulator community and the real estate industry. Some states, including Utah, have enacted legislation defining a TIC investment as real estate while under Federal law most investments in undivided interest of real estate are treated as securities.

The Colorado Association of REALTORS® recently posted a document designed to help define what a TIC is and how they are regulated. That document can be found here: Tenant in Common Transactions.... and NAR posted a report on TIC's by the REALTOR Commercial Alliance from the Hot Topics Series that describes and covers TIC investments. View this report by clicking here.

At the 2006 ARELLO (Association of License Law Officials) annual conference, Dr. Harold Hunt, a research economist from The Real Estate Center at Texas A&M delivered a presentation to regulators from around the world at the TIC Symposium covering the background of these investments. His PowerPoint is available to view by visiting the ARELLO web site, or by clicking here.

Colorado New Energy Summit - 2007

U.S. Senator Ken Salazar is set to host the Colorado New Energy Summit - 2007 in the Wells Fargo theatre at the Colorado Convention Center on Saturday March 24th. Invited to be the Keynote speaker is be Alexander Karsner, Assistant Secretary, Energy Efficiency and Renewable Energy, U.S. Department of Energy.

Prominent local government officials will also be speaking, including Denver Mayor John Hickenlooper and Colorado Governor Bill Ritter. The afternoon highlighted topics include Financing new energy projects and Colorado's new energy technologies. Registration for this event is still open, and you can use the links below to find out more about the event and register online.

For Information, click here.  To Register, click here.