| In This Issue: Monday, July 11, 2005 | |||||
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INDUSTRY NEWS AND EVENTS |
FUNDAMENTALS CLASS WINS AWARD |
| Fundamentals of Commercial Real Estate authored by the Chairman of the Commercial Leadership Forum, Cindy Chandler, CCIM, CRE of Charlotte, NC, has received the prestigious Education Program of the Year Award presented by the Real Estate Educators Association (REEA). The Fundamentals course is available to Realtor associations at no cost. Providing the location and instructor is up to the local associations. The course will explain the business of commercial real estate and provide students with the information they need to determine whether a career in commercial real estate is right for them. For information on class location contact your local association, to read more about the content of the class Click Here |
THE RUSH IS ON |
| Registration is open for the 2005 Annual Meeting in San Francisco, CA October 28-31. Plan on attending the meeting for the exciting events, educational programs, tours and networking opportunities. The program track for commercial members includes Economic Issues and Commercial Business Trends Forum, Tax Strategies for Real Estate Investing and a class for continuing education credit, requires advance registration; Real Estate Investment, The 1031 Exchange. Register early in the Technology Learning Center for hands-on training in the latest technology to increase productivity. You won’t want to miss the Entrepreneurial Excellence Series with five nationally known authors and strategists; all five sessions are included in your full conference registration. Visit the REALTOR.org site to learn more and register. Click Here |
NEW OFFER FROM REALTOR VIP® PARTNER, NEXTEL COMMUNICATIONS |
| Nextel Communications is providing NAR members with a new 5% discount on all Nextel monthly voice plans, including Nextel National Free Incoming Plans. In addition to this new benefit, Nextel continues to offer NAR members a one-time service credit on new Nextel phone purchases and a special offer on TeleNav™ wireless GPS-guided driving directions - a first month free trial and 10% off all available TeleNav service plans. To learn more, visit Click Here or call 1-866-647-3929 and mention your 9-digit NRDS I.D. number and corporate code ASNAR or visit a Nextel Store or Authorized Retailer and show your NAR membership card. Note: the $25 service credit for new phone purchases will appear on your first or second invoice; the TeleNav first month free trial can be cancelled after the trial period by contacting Nextel customer care. |
2005 COMMERCIAL MEMBERS GUIDE IS ON THE WEB |
| The 2005 RCA Membership Reference Guide, specifically created for Commercial practitioners, is on the web and all the links within the guide are live. The Guide is full of valuable information that can be accessed via the internet. The online Guide is interactive and contains hyperlinks making it easy for you to visit the sites mentioned in the print version of the book. Follow them to visit pages on REALTOR.org and more. Click Here |
PUBLIC POLICY UPDATES |
INPUT ON TERRORISM INSURANCE NEEDED |
| Please let NAR know about your experiences with terrorism insurance by taking the following survey. Click Here The legislation that mandated that insurers provide terrorism coverage is set to expire at the end of the year. This pending sunset may prompt insurers to drop terrorism coverage mid year policy renewals that extend into 2006. NAR is part of a coalition to ensure that terrorism insurance will continue to be available following the Terrorism Risk Insurance Act of 2002's sunset and believes legislation is needed to ensure that goal. By the end of the month the Treasury Department will issue a report on the effectiveness of TRIA-- that report will likely shape the debate on the future of federal involvement in the terrorism insurance market. To play a role in the debate on the future of terrorism insurance, NAR needs to hear from members who have had experience with terrorism insurance -- whether premiums have increased, or coverage dropped, NAR would like to know. Thank you in advance for your participation. |
SUPREME COURT SUPPORTS DEVELOPMENT IN EMINENT DOMAIN CASE |
| In a 5-4 decision announced last week, the U.S. Supreme Court ruled in the case of Kelo v. City of New London that the City's condemnation of several private residences pursuant to a comprehensive economic development plan did not violate the Fifth Amendment of the U.S. Constitution. The Supreme Court had agreed to review the case in order to address the question of whether the city's decision to take property for the purpose of economic development satisfied the "public use" requirement of the Fifth Amendment. NAR submitted a friend-of-the-court brief, jointly filed with the National Association of Home Builders, which argued for a stricter standard on the "public use" question. The Court rejected NAR's position, determining that it was inappropriate to second-guess the city's comprehensive economic development plan. For more information on the Kelo case, NAR's position and policy, and eminent domain; Click Here |
WHAT ARE YOUR THOUGHTS ON EMINENT DOMAIN? |
| On the Kelo case specifically and the use of eminent domain in general? The government's use of eminent domain for economic development purposes exemplifies the societal tension between property rights and economic development. NAR is a staunch defender of individual property rights. We strive to be leading advocates of the right to own, use and transfer real property. However, NAR's core purpose is to help our members become more profitable and successful. NAR is concerned that the economy remains healthy, and we support a balance between the protection of property rights and promotion of economic growth. Your feedback will greatly assist NAR in addressing this issue as we move forward. To provide your input, please For more info, For more info, CONTACT: Joe Maheady, Joe Maheady, 202/383-1097.jmaheady@realtors.org or Russell Riggs 202/383-1259. |
VICTORY FOR NAR ON FAXING LEGISLATION |
| Legislation backed by NAR to alleviate problems created by do-not-fax rules for consumers and businesses was approved by the U.S. House of Representatives and the Senate. The Junk Fax Prevention Act, S. 714, now heads to President Bush, who is expected to sign the bill. The law creates an exception to the Federal Communications Commission's do-not-fax rules for existing business relationships. "NAR commends Congress for passing legislation that will eliminate junk faxes without creating costly regulations that burden legitimate businesses and hamper consumers' ability to receive requested information in a timely manner," said NAR President Al Mansell. For more info; Click Here |
HOUSE COMMITTEE VOTES TO PROHIBIT BANKS IN REAL ESTATE |
| The House Appropriations Committee approved the FY 2006 Transportation/Treasury Appropriations bill that contains a provision prohibiting the U.S. Treasury Department from finalizing its proposed rule to allow banks in real estate brokerage and management. This is the same section that Congress has enacted over the past three years. The bill is expected to be considered on the House floor this week. For more info, CONTACT: Edward Miller, 202/383-1171. |
RESEARCH, RESOURCES |
THE LATEST FROM NAR RESEARCH FOR COMMERCIAL PRACTITIONERS |
| NAR Research has several regular and special reports that cater exclusively to the commercial real estate practitioner. Since the last Commercial Report NAR Research has released the second quarter Commercial Real Estate Spotlight and the Office View. This Spotlight reports that office fundamentals are improving in most markets. The Office View takes the numbers a step further and reports Southern California, New York City and South Florida are showing the strongest office markets. The Spotlight is available in an abbreviated version to non-registered users of realtor.org, be sure to register at the realtors.org web site to access the full version of the Spotlight than includes a look at specific markets as well as a special report on the hospitality industry. Click Here |
PROGRESS SETTING COMMERCIAL REAL ESTATE DATA STANDARDS |
| The REALTORS Commercial Alliance (RCA), the commercial division of NAR as partner in the Commercial Information Exchange Working Group, was recently awarded Realcomm’s 2005 “Digie” Award in the Most Innovative Technology – Transaction Technology at the annual conference recently held in Anaheim, California. “Digie” Awards are presented to real estate companies and individuals that are involved in developing automation and technology to serve the commercial real estate industry. RCA and the Open Standards Consortium for Real Estate (OSCRE) formed the working group and have agreed to collaborate to set data standards for the exchange of information about commercial real estate properties for sale or lease. A first ever demonstration at the event was a listing exchange between two vendors by NAR's Center for Realtor Technology manager of software development; Aubrey Jackson. The RCA is committed to lead the technological forefront of the industry and is reflected by the appointment of RCA Vice President, James Marrelli to the Board of OSCRE. Together with OSCRE the group will facilitate a greater level of coordination, standardization and collaboration to expedite the universal transmission of commercial real estate data necessary for the development of a national CIE platform. To learn more about OSCRE and the CIE workgroup; Click Here |
AFFILIATE NEWS |
NEW SEMINAR OFFERS EXPERT ADVICE ON MANAGING MOLD |
| IREM and the REALTORS Commercial Alliance (RCA) have partnered with the Department of Environmental Health at the University of Cincinnati Medical School to present "Managing Mold: Recognition, Remediation and Resolution," a one-day seminar that will show you how to protect the physical health of building occupants and the financial health of your properties. This seminar will be offered in three locations in September; Chicago, Orlando and Los Angeles. Space is limited. Click Here |
Report compiled by Carolyn Schwaar, cschwaar@realtors.org, 312/329-8874. |
| QUESTIONS on this report? Visit the INS FAQ and online feedback area on REALTOR.org. CLICK HERE. |
