Utahrealestate.com wants its rules to reflect the market, REALTOR practices, and the terms of the REALTOR approved UAR short sale addendum. Many members believe that when an offer is received on a short sale and the offer is sent to a lender for review the property should be “under contract” and removed from the active listing database. Short sale specialists claim this will greatly harm the public and their clients, that time frames are very short, lenders are slow and unpredictable, and the MLS should follow the terms of the standard short sale addendum. Our board has agreed to adopt rules that will make the system work for all concerned sellers, buyers, and agents.

Accordingly, when listing a short sale property the following policies must be adhered to:

• The property must be marked as a short sale on the MLS
• If an offer is accepted and sent to a lender for review/approval this must be properly indicated on the MLS
• If the property is not available for showing this must be clearly indicated on the MLS in the fields provided in the Showing Instructions AND the Remarks areas of the Listing

The Board of Utahrealestate.com has approved a $100 fine if short sale properties are subject to an existing offer, and are not available to show and this has not been indicated on the MLS.  This policy took effect May 1, 2012.

On the public website Utahrealestate.com consumers are made aware that a home is not available for showing as illustrated below:

The MLS will be making additional system changes to support this policy change that include:

• The “Showings” field will be a mandatory field in Listing Input for Listings where the “Offer Under 3^rd Party Review” checkbox has been checked
• An MLS supplied “No Showing” photo will be included on short sale listings distributed through IDX syndication (e.g. Realtor.com)

When the “No Showing” field on a property listing is checked the MLS will automatically insert the stock photo (see below) as the primary photo for that listing.  All other photos, including the primary photo submitted by the Listing Agent, are retained and displayed in the same way they are today.

Short video tutorials that illustrate how to properly list a short sale property on the MLS are available to you in your MLS account by clicking on MLS News and selecting the “Short Sale Policy Update” post.

If you have any questions about how to comply with MLS short sale policies and procedures please contact the MLS at 801-676-5400, or by email at memberservices@utahrealestate.com.

The Tech Committee is excited to offer two upcoming classes all focused on a topic you just might be familiar with—client chaos!

No worries, UCAR’s Tech experts are going to help you pull in the reins on the chaos and become better organized and more efficient in your business by understanding and using a Customer Relationship Management (CRM) system.

Just clear your schedule for the following times and you’ll be on your way! Click to link to the Facebook event page.

Thursday, May 31, 10 a.m. – 12 p.m.: Managing Your Client Chaos

Wednesday, June 6, 10 a.m. – 12 p.m.: Getting Over Your Client Chaos Hump

Sincerely,

Taylor Oldroyd

UCAR CEO

Since its inception almost 40 years ago, RPAC has worked to ensure that the real estate industry speaks with a unified voice and continues to provide you with an influential political presence.

Join RPAC.

Whether you are a brand new member or a seasoned veteran, RPAC offers a variety of investment levels so every REALTOR® can become involved in protecting property rights and helping fight burdensome regulations.

RPAC is an investment in good government. RPAC aggressively pursues the election and re-election of candidates for local, state and federal office who stand up and support our key issues.

The NAR uses RPAC to contribute to national candidates, regardless of party, who support the following:

• Improving short sale and appraisal processes
• Protecting homeownership tax benefits, such as the MID

In Utah, the UAR supports candidates and advocates on many issues, including the following:

• Encouraging short sales instead of foreclosures by limiting a lender’s ability to pursue a deficiency judgment to three months.
• Prohibiting transfer fees and sales tax on services

UCAR supports candidates and issues, including the following:

• Reasonable sign ordinances that allow for adequate marketing of property
• Avoiding city ordinances that financially injure property owners
• Promoting accessory apartment ordinances and the good landlord program
• Reasonable zoning and other restrictions on land use

What we need is your support.

It is critical that REALTORS be involved with local, state and federa lgovernment. By investing in RPAC, your voice is heard collectively, locally with hundreds of others and nationally with thousands of others. We are stronger when we stand together. One thing we know for sure is that when REALTORS® speak, public officials listen.

Please take the opportunity to begin, or renew, your support of the real estate industry and our commitment to support good government, wise policies, and a stronger community.

Right now, UCAR is offering a special opportunity drawing for Stadium of Fire tickets based on RPAC contributions. Drawing tickets are just a $1 contribution. Check out the details here. Also, make sure to plan ahead to attend our “So long, Barney Frank” RPAC celebration on Aug. 1. Cost is a $20 RPAC contribution, and believe me, it will be worth it. You’ll find more details about “So long, Barney Frank” here.

Contact UCAR with any questions or click here to make a general RPAC contribution now.

Sincerely,

Taylor Oldroyd

UCAR CEO

The average home is selling in about 78 days, a 26 percent improvement from 2011. Home sales are also up 1 percent from last year’s report and support the trend that sales have improved over the previous month’s yearly comparison for 10 of the past 11 months.

“Utah County is in a great place with increasing sales and leveling prices, especially when compared to dropping national sales,” says Taylor Oldroyd, UCAR CEO. “Throughout the county I’m hearing reports of multiple offers on listings which reflects the market’s increased demand.”

Supply is also low as inventory is down 22.5 percent (2,933 compared to 2011’s 3,796). Oldroyd says he expects the resulting effect on pricing to, at worst, remain stable, but likely to show slight improvement.

The Salt Lake Tribute recently reported Utah’s healthy job market along with increased rent prices as motivating factors for Utahns to consider buying homes. But Utah County’s growth continues outside of existing home sales. In March, builders took out 484 single-family home permits, up 22 percent from 2011.

View the complete housing statistics from the Utah County Association of REALTORS®.

The Utah County Association of REALTORS® is the local voice of real estate and is committed to its motto, “Bringing people home.” The association releases monthly housing statistics on the 25th of each month on www.ucaor.com. For more information, contact the UCAR at (801) 226-3777.

Late last year, Barney Frank, a Representative from Massachusetts who sponsored the bill, announced his retirement. We hope that maybe the repeal or significant changes to the Dodd Frank Act will shortly follow.

Join us for UCAR’s “So long, Dodd Frank!” party

When: August 1st from 11:30 a.m. to 3:30 p.m.

Where: UCAR office (1031 W. Center St. Orem, Utah)

What: We’ll be cookin’ up franks from J-Dawgs, sipping shakes from Sammy’s Pie Shakes, and relaxing to the sounds of a live band.

Cost: $20 RPAC contribution for NAR members); Guests: $10

Purchasing an opportunity drawing ticket (with a $1 RPAC contribution) could win you the chance to win big. UCAR will be giving away two packages. Contact UCAR to purchase your tickets today! (Previous RPAC contributions do not count.)

Package One

4 Stadium of Fire tickets

4 tickets to the Patriotic Service

2 tickets to the Pre-Patriotic Service Reception

5 reserved bleacher seats to the Grand Parade

2 tickets to the Freedom AwardsGala

2 tickets to the Mayors’ Prayer Breakfast

Package Two

4 Stadium of Fire tickets

2 Stadium of Fire Pre-show Celebrity Reception tickets

2 Stadium of Fire Post-show Reception tickets

1 Stadium of Fire VIP Parking Pass

You may have seen him on the cover of the Utah Valley BusinessQ, but now the “Human Internet” is coming to UCAR. In 2010, Bradford was named Utah’s Executive of the Year, and in 2011 he was named one of the 100 Most Influential People in the State. Check out his interview with the BusinessQ here and sign up below.

RESCHEDULED!

May 24

12 – 1:30 p.m.

Leadership Development with David Bradford

Sign in to RSVP>>

UVU plays a significant role in boosting Utah’s economy in a number of significant ways. Here are few of the highlights:

1. UVU’s mere presence generates $534 million in annual economic activity.
2. For every $1 of tax money invested, UVU generates a value-added return of $5.58.
3. UVU creates jobs both directly and indirectly. UVU employs 1,529 FTE, 2,982 PT, and indirectly supports 6,399 FTE jobs.
4. UVU works with the state to proactively spur economic development.
5. 87 percent of UVU alumni remain in Utah, lending their expertise and earning power to Utah. This generates $1.65 billion in potential additional income from each additional graduating class.

UVU also supports the creation and growth of businesses that provide jobs. The UVU Economic Development Office leverages resources to facilitate industry development and job growth. The Technology Commercialization Office combines academic and entrepreneurial technologies and ideas into viable businesses. The Small Business Development Center is ranked No. 1 in Utah in almost every category. The Woodbury School of Business is the largest business school in the state system and now offers a new MBA program. UVU is also on the cutting edge in what is called Cluster Acceleration, where they host accelerating development of the digital media industry.

No matter how you cut it, UVU is awesome and playing a significant role in our community. Our clients and children will benefit for generations to come with having UVU so close and so committed to the success of our community.

Sincerely,

Taylor Oldroyd

UCAR CEO

For more information and register, please click here.