Monday July 28th 2014

Stalk Us!

Massachusetts Association of REALTORS® Applauds Passage of State Flood Insurance Bill that helps Massachusetts homeowners

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The Massachusetts Association of REALTORS® (MAR) celebrated yesterday the work done by Governor Patrick, Attorney General Coakley and Speaker DeLeo to address the devastating impacts of the changes to National Flood Insurance Program at the state level with the passage of H3783, An Act relative to flood insurance.

“Due to the older and coastal housing stock in Massachusetts, we have been working tirelessly with the National Association of REALTORS® on a federal level to seek relief for Bay State homeowners after major changes to the National Flood Insurance Program,” said MAR 2014 President Peter Ruffini, regional vice president for Jack Conway REALTORS® in Norwell. “We greatly appreciate that Governor Patrick, Attorney General Coakley and Speaker DeLeo not only recognized this as a serious issue, but also crafted legislation that will help some of those homeowners impacted to prevent default or foreclosure.”

This new law will provide homeowners with the option of purchasing flood insurance in an amount that would only cover the outstanding amount of a mortgage or equity loan. Previously, these homeowners would be required to purchase full replacement value regardless of the value of the mortgage owed.

Read the rest of the release here.

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FEMA to issue Nat’l Flood Insurance Program refunds starting October 1

Recently, the Federal Emergency Management Agency (FEMA) announced that they will begin issuing refunds October 1 to those that paid increased flood insurance rates based on the Biggert-Waters Flood Insurance Reform Act of 2012. FEMA estimates that rebates are due to 13.8% of policy holders nationwide. The rebates largely apply to those who purchased homes after Biggert-Waters took effect in 2012 or whose coverage lapsed after the law took effect. The Write Your Own companies that sell and help administer the program will be issuing the rebates.

Please see FEMA’s website for more information.

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We’ve got, three tickets to paradise

PeggyVideo

MAR is officially challenging you! We want you to get creative and make a video with MAR Conference themed lyrics. You can choose any song!

Film the short video (30 seconds-1:30) with your smart phones, computers, video cameras, etc. and upload them to Facebook and be sure to tag Massachusetts Association of REALTORS®. You can have as many people in your video as you’d like, but only three free tickets will be given to the winning group/person.

The deadline for the video competition is September 26, 2014. We know you can do better than us. Submit now!

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LinkedIn Buys Newsle to Show Relevant News About People in Your Network #marealtorssmm

LinkedIn is buying the web app Newsle, according to an article from Mashable last week. Newsle notifies users whenever the name of one of their contacts appears in the news. It’s a tool that no doubt has appeal for professionals, hence the acquisition by LinkedIn.

“LinkedIn and Newsle share a common goal: We both want to provide professional insights that make you better at what you do,” Ryan Roslansky, head of content products at LinkedIn, wrote in a blog post announcing the deal.

Read the rest of the article from Mashable here.

REALTORS, do you use Newsle? If you don’t, would you consider it now that LinkedIn has given its seal of approval? Let us know in the comments below.

*We hope you find this link interesting, but please don’t consider this an endorsement by the Massachusetts Association of REALTORS®. Please read our Terms of Use Policy and disclaimer

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What’s being said in the media: June Future Indicators Report

Here are the articles and posts that resulted in the release of our June 2014 Future Indicators Report (a combination of our pending sales and REALTOR Confidence Indexes data.) We’ll continue to update this post as more articles come in.

Tuesday, July 15, 2014

MAR: Pending Sales Up, Realtor Confidence Down
Banker & Tradesman

Despite rising prices, pending home sales homes reached record levels in June
Boston Business Journal

Mass. Realtors: pending home sales up in June as price and market confidence indexes down
Cape & Plymouth Business

Wednesday, July 16, 2014

Single-family home sales up 20 percent
Cape Cod Today

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FEMA Releases Refund Guidance

FEMA has released information FEMA-Logo-DHSon providing refunds to property owners who overpaid for flood insurance. Refund amounts will be determined using rates made available in Bulletin W-14026 issued on May 29, 2014. The Homeowner Flood Insurance Affordability Act requires FEMA to restore Pre-Flood Insurance Rate Map (FIRM) subsidized rates and issue refunds of excess premiums collected for: pre-FIRM properties not insured when the Biggert-Waters Flood Insurance Act of 2012 was enacted; pre-FIRM properties purchased after Biggert-Waters was enacted; and policies for Pre-FIRM properties that were rated full-risk under Biggert-Waters due to a lapse in coverage, but only for policies where the lapse was due to a property owner no longer being required to purchase flood insurance.

The issuance of refunds will begin on Oct. 1 and must be completed by Dec. 31, 2014. For more information.  For more information, click here.

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