CDAR continues its over thirty-year tradition of awarding scholarships to high school seniors
The California Desert Association of REALTORS® awarded a total of $12,000 in academic scholarships to high school seniors in the Coachella Valley, continuing the thirty-year tradition of assisting students to aspire towards and achieve their higher education goals during the COVID-19 pandemic.
This year, a total of 12 local students were awarded $1,000 scholarships each, including the third straight year of awarding one of the scholarships to the child of a CDAR member. The CDAR Scholarship Fund, which was started in 1988, has awarded scholarships to over 300 high school seniors over the past thirty years, amounting to $200,000 total in scholarship money awarded.
Although the annual CDAR Scholarship Breakfast, an event that celebrates the recipients with a ceremony and their families in attendance, was cancelled due to COVID-19 concerns, CDAR made the decision to still award scholarships in 2020 to support local students.
“The CDAR Scholarship Fund is very close to our hearts and means so much to our organization,” said Mary Funk, the CDAR Scholarship Committee Chair. “Even though we were not able to award as many scholarships as in previous years, we remain fortunate enough to still provide assistance to our Coachella Valley students so that they can continue to pursue their education goals.”
This year’s list of recipients, selected by the CDAR Scholarship Committee from a large pool of well-qualified candidates, are:
Monies for the CDAR Scholarship Fund is raised at events such as the CDAR Scholarship Golf Tournament and the CDAR Scholarship Wall, located at the CDAR Corporate Office in Palm Desert, CA. To find out how to donate or support the CDAR Scholarship Fund, please contact the office at 760-346-5637 for information.
The partnership with Glide, which goes into effect March 1, 2020, will give members free access to an online platform that makes seller disclosures safer and more efficient. Glide provides a step-by-step guided interface for home sellers to complete required seller disclosures more quickly and more accurately.
CDAR is excited to announce that they’ve partnered with Glide to give access to Glide’s powerful online platform for completing seller disclosures to every association member, at no cost.
When a real estate agent’s client sells their home, the owner is required to accurately complete and submit a number of critical disclosures about the property. As agents know, this means that sellers are presented with forms containing complex legal language that often proves confusing and challenging to complete. As a result, these documents are commonly submitted with incomplete or inaccurate information, making a failure to disclose the #1 cause of home sale lawsuits nationwide.
Glide addresses these legacy issues by providing a step-by-step online interface that home sellers can use to accurately, quickly, and painlessly provide the required information about the property. Glide asks home sellers questions about their properties in plain language, making it clear how to disclose important details through user-friendly, conversational interactions and provides inline contextual help to ensure sellers understand everything being asked. In addition to eliminating the frustration of often-confusing forms and delays due to missed questions, unreadable handwriting, and other common issues, Glide allows agents to track their clients’ progress and digitally receive the finished forms as soon as they are completed. The purpose-built solution is also optimized for mobile use.
Glide provides software solutions that helps real estate agents simplify their transaction process, reduce risk, and close more deals with less effort. The company’s first release, Glide, allows home sellers to complete required disclosure forms electronically for the first time ever.
More than one in four U.S. homeowners—or 27%—don’t know the interest rate on their current home, according to a new study published by Bankrate. That lack of knowledge may be prompting homeowners to miss out on refinancing their mortgage into a lower rate and saving on monthly costs. Mortgage rates have recently been hovering at three-year lows.
Younger homeowners are the most likely to be unaware of their mortgage rate. About 34% of homeowners between the ages of 29 to 39 say they’re unsure what their mortgage rate is. On the other hand, for comparison, 23% of homeowners between the ages of 56 and 74 don’t know their mortgage rate.
“It is concerning that more than a quarter of mortgage borrowers don’t know the rate of interest they’re paying on their existing mortgage,” says Mark Hamrick, Bankrate’s senior economist analyst. “Given the decline in mortgage rates we’ve seen over the past year, many qualified homeowners would stand to benefit, or save, by refinancing.”
For example, Fox Business offers the following example of how big a difference it can make: A $200,000 mortgage with a 4.70% interest rate could cost a homeowner about $119 a month more in interest than a mortgage with a 4.13% rate.
But mortgage rates are a lot cheaper now. The 30-year fixed-rate mortgage averaged 3.47% last week, according to Freddie Mac.
More than 11 million homeowners could save an average of $268 per month on their mortgages by refinancing, according to a recent report by Black Knight.
(Republished from REALTOR® Magazine)
A strong economy, low unemployment, low mortgage rates, and alluring mortgage rates are making it a great time to buy a home, according to a newly released report from LendingTree, an online financial services marketplace. The amount of income that buyers spent on their mortgage payments also dropped from 2010 through 2019, despite higher home prices.
“If you are in a point in your life where you’re considering buying a home today, it’s a better time to buy than 10 years ago,” Tendayi Kapfidze, LendingTree’s chief economist, told realtor.com®. “If you can get a mortgage, you’re getting much lower interest rates, and it enables you to afford more. But that also means that you’re competing with more buyers, who are bidding up the prices.”
Indeed, median sales prices jumped 53.5% between early 2012 and summer 2019, according to realtor.com®. But a decrease in average mortgage rates—by more than a percentage point from the start of the decade—is helping to offset some of that uptick. Mortgage rates have dropped from 5.09% to 3.74% during that time period. That drop could save borrowers hundreds of dollars a year to tens of thousands over the life of the loan, realtor.com® reports.
Since the Great Recession, borrowers are being more responsible too, Kapfidze says. They’re “much healthier financially than they were 10 years ago,” Kapfidze says. “One reason is because of low mortgage rates. If you refinance, [you can] reduce your monthly mortgage payments.”
Homeowners are also sitting on more equity. In 2012, nationwide equity reached a low of $8.2 trillion. In 2019, it grew to about $18.7 trillion.
(Republished from REALTOR® Magazine)
All real estate licensees are not the same. Only real estate licensees who are members of the NATIONAL ASSOCIATION OF REALTORS® are properly called REALTORS®. They proudly display the REALTOR “®” logo on the business card or other marketing and sales literature. REALTORS® are committed to treat all parties to a transaction honestly. REALTORS® subscribe to a strict code of ethics and are expected to maintain a higher level of knowledge of the process of buying and selling real estate. An independent survey reports that 84% of home buyers would use the same REALTOR® again. Our members abide by a strict code of ethics and have access to a wide variety of business services that are not available to non-REALTORS. This gives them a competitive edge in the marketplace, enabling them to provide superior services to buyers and sellers of real property.
(Information herein © 1995-2014 National Association of REALTORS®)
As a prerequisite to selling real estate, a person must be licensed by the state in which they work, either as an agent/salesperson or as a broker. Before a license is issued, minimum standards for education, examinations and experience, which are determined on a state by state basis, must be met. After receiving a real estate license, most agents go on to join their local board or association of REALTORS® and the NATIONAL ASSOCIATION OF REALTORS®, the world’s largest professional trade association. They can then call themselves REALTORS®.
The term “REALTOR®” is a registered collective membership mark that identifies a real estate professional who is a member of the NATIONAL ASSOCIATION OF REALTORS® and subscribes to its strict Code of Ethics (which in many cases goes beyond state law). In most areas, it is the REALTOR® who shares information on the homes they are marketing, through a Multiple Listing Service (MLS). Working with a REALTOR® who belongs to an MLS will give you access to the greatest number of homes.
An agent is bound by certain legal obligations. Traditionally, these common-law obligations are to: Put the client’s interests above anyone else’s; Keep the client’s information confidential; Obey the client’s lawful instructions; Report to the client anything that would be useful; and Account to the client for any money involved.
NOTE: A REALTOR® is held to an even higher standard of conduct under the NAR’s Code of Ethics. In recent years, state laws have been passed setting up various duties for different types of agents. As you start working with a REALTOR®, ask for a clear explanation of your state’s current regulations, so that you will know where you stand on these important matters.
Suppose you sign an offer to buy a home for $150,000. You really want the property and there’s a chance other offers are coming in, so you tell the broker that “We’ll go up to $160,000 if we have to. But of course don’t tell that to the seller.” If you’re dealing with a seller’s agent, he or she may be duty-bound to tell the seller that important fact. In most states, the seller’s agent doesn’t have any duty of confidentiality toward you. Honest treatment might require that the agent warn you that “I must convey to the seller anything that would be useful so don’t tell me anything you wouldn’t tell the seller.”
TIP: If you’re dealing with seller’s agents, it’s a good idea to keep confidential information to yourself. These days many home buyers prefer instead to hire a buyer’s broker, one who owes the full range of duties, including confidentiality and obedience, to the buyer. A buyer’s broker is often paid by the seller, regardless of the agency relationship.
In making your decision to work with an agent, there are certain questions you should ask when evaluating a potential agent. The first question you should ask is whether the agent is a REALTOR® . You should then ask:
(Information therein © 1995-2014 National Association of REALTORS®)