Tuesday, November 10th, 2009 SALES MEETING ADGENDA RPH NEWS Thanksgiving ***** November 26 th, 2009 we will be closed Christmas Party date is set: Saturday, December 5 th, 2009 ***Please mark your calendars and watch for invitations. ****************************************************************************************** An Archive of office meeting agenda s has been started. You can now download your copy of Office Meeting information at http://realtoreforms.com/rphoffice/rph123.pdf Place your cursor over the logo Experience the Difference This page will become a resource page used by RPH Personnel only for information and training. NEW AGENTS NEW LISTINGS RECRUITING SUMMARY Email recruiting is sent out monthly to agents within the Blue Springs Metro Area. Emails consist of video presentations and plain and simple text messages. To see current recruiting media see Chip. If you have ideas for recruiting please do not hesitate to email Chip or just come by the office and explain your ideas. RPH CURRENT INVENTORY October 20 th 2009 Active Listings 153 $19,522,450 Pending Sales 31 $ 4,421,800 Contingent Sales 0 Back Up Sales 2 $ 390,000 RPH YTD CLOSED FILES October 20 th 2009 Closed Listings sides 143 $15,403,687 Closed Other s sides 187 $17,905,571 Closed Both sides 45 $ 4,579,888 OFFICE PROPERTY TOUR This week features *** Blue Springs/ Oak Grove / Grain Valley 1 of 5
MLS NEWS SYNDICATION WITH POINT2 AGENT STARTS NOVEMBER 30 WHAT DOES THAT MEAN TO YOU? MLS Point 2 Syndication Dashboard info 11-09-2009 on your Intranet site. KCRAR ******************TOMORROW******************** Keys to Understanding Short Sales 12 to 3 p.m. (lunch will be provided) Harrah's Casino & Hotel (1 Riverboat Drive, North Kansas City, MO 64116) $5 registration fee prior to Nov. 11. After that, registration is $10. FEATURE STORY Obama Signs Homebuyer Tax Credit Extension RISMEDIA, November 9, 2009 President Barack Obama has approved the first-time homebuyer tax credit extension which will extend the tax credit until April 30, 2010. The extension is part of a $24 billion economic stimulus bill that will extend the $8,000 tax credit for homebuyers who are purchasing their first home from the current November 30 deadline and expands the program to offer a credit of $6,500 to homeowners who have lived in their current home for at least five years and are seeking to relocate. The following details apply to the homebuyer tax credit expansion: Who is Eligible -First-time homebuyers, who are defined by the law as buyers who have not owned a principal residence during the three-year period prior to the purchase, may be eligible for up to an $8,000 tax credit. -Existing homeowners who have been residing in their principal residence for five consecutive years out of the last eight and are purchasing a home to be their principal residence ( repeat buyer ), may be eligible for up to a $6,500 tax credit. -All U.S. citizens who file taxes are eligible to participate in the program. Income Limits Homebuyers who file as single or head-of-household taxpayers can claim the full credit ($8,000 for first-time buyers and $6,500 for repeat buyers) if their modified adjusted gross income (MAGI) is less than $125,000. -For married couples filing a joint return, the combined income limit is $225,000. 2 of 5
-Single or head-of-household taxpayers who earn between $125,000 and $145,000, and married couples who earn between $225,000 and $245,000 are eligible to receive a partial credit. -The credit is not available for single taxpayers whose MAGI is greater than $145,000 and married couples with a MAGI that exceeds $245,000. Effective Dates -The eligibility period for the tax credit is for homes purchased after Nov. 6, 2009, and before May 1, 2010. However, home purchases subject to a binding sales contract signed by April 30, 2010, will qualify for the tax credit provided closing occurs prior to July 1, 2010. Types of Homes that Qualify -All homes with a purchase price of less than $800,000 qualify, including newly-constructed or resale, and single-family detached, townhomes or condominiums, provided that the home will be used as their principal residence. Vacation home and rental property purchases do NOT qualify. Tax Credit is Refundable -A refundable credit means that if the amount of income taxes you owe is less than the credit amount you qualify for, the government will send you a check for the difference. -For example: -A first-time buyer who qualifies for the full $8,000 credit who owes $5,000 in federal income taxes would pay nothing to the IRS and receive a $3,000 payment from the government. If you are due to receive a $1,000 refund, you would receive $9,000 ($1,000 plus the $8,000 first-time homebuyer tax credit). -A repeat buyer who owes $5,000 would pay nothing to the IRS and receive $1,500 back from the government. If you are due to get a $1,000 refund, you would get $7,500 ($1,000 plus the $6,500 repeat buyer tax credit). -All qualified homebuyers can take the tax credit on their 2009 or 2010 income tax return. Payback Provisions The tax credit is a true credit. It does not have to be repaid unless the home owner sells or stops using the home as their principal residence within three years after the purchase. The www.federalhousingtaxcredit.com site is being updated. Check the site next week for more detailed information on the new tax credit. For more information, visit www.nahb.org. RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com. KCRAR SHOW ME REGION EVENTS None this week HMLS & KCRAR NEWS Compliant Data for MLS Input Data sheets MAR NEWS TECHNOLOGY *********Syndication of our Listings is here! Do you understand what that means?********** Attached are the critical fields for listings 3 of 5
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WORD OF THE DAY Runs With The Land A phrase describing rights or covenants that bind or benefit successive owners of a property. An example is a restrictive building covenant in a recorded deed that would affect all future owners of the property. Unlike an easement in gross, an easement appurtenant runs with the land and thus passes to a succeeding owner even if it is not specified in the deed. For example, the covenant will not run with the land if the grantee Shoshanna agrees, as part of the consideration to a transaction, to repair a building located on land owned by grantor Leonard. This is because it merely places a duty on the grantee Shoshanna. The promise does not touch and concern the land granted from Leonard to Shoshanna it is only a personal covenant for the grantor s benefit. This "Word of the day" is excerpted from The Language of Real Estate, 6th Edition by John Reilly (published by Dearborn Real Estate Education, 2006 copyright). To purchase the complete book, with over 2800 key terms and definitions, or to browse through Dearborn's hundreds of other professional real estate titles, including Real Estate Technology Guide by Klein, Barnett, Reilly, click here. 5 of 5