Wednesday, February 27, 2008


Arizona Regional Multiple Listing Service, Inc. in line with their current Rules and Regulations has ask the Employing Brokers (The Companies) to intensify their control over MLS listings.

In compliance with MLS rules and regulations all listings are to be placed on the MLS within 72 hours of receiving a signed listing contract from a seller, unless seller has in writing, instructed the employing broker not to place the listing on the MLS. This then become what is called a "Office Listing". This is normally used when the house being put under a listing contract is already sold. The listing contract, which is also called a employment contract is used in this instance to insure payment of commission fees being charged.

In compliance with Arizona Regional Multiple Listing Service, Inc.'s Rules and Regulations, no listing is to be placed on the MLS until a signed listing contract is in the office of the employing broker and the agent has acknowledgement of the same.

ARMLS has requested from the employing brokers that they monitor the master property listing roster, furnished daily to each company that are members of the Arizona Regional Multiple Listing Service, Inc. If a property appears on this roster and the employing broker does not have a listing contract, signed by the seller, in the company's possession, the employing broker is instructed to immediately cancel the listing. Possession is consider to be a logged file, located at the Employing Broker's licensed office(s) as authorized by the Arizona Department of Real Estate.

It has come to ARMLS's attention that some Company have become lack in requiring their agents to comply with ARMLS's Rules and Regulations and the Arizona Revised Statutes concerning the handling of required documentation. ARMLS at any time can request a copy of the listing agreement from the employing broker. If the employing broker can not readily furnish and fax a copy to ARMLS then the employing broker (The Company) will be fined. All fines are due within 10 days of levy notice. If the company continues to ignore ARMLS's policies they and all their agents will be barred from their MLS membership.

These are not new rules and regulation. They have been enforce for years. They are reviewed, revised, updated or changed annually as need be, to fit current conditions and industry upgrades.

Clients First Realty, LLC paperwork policy addressed in the company's Policy and Procedure Manual is clear, fair and equitable in the handling of this issue. However, the company's position is to support and comply with ARMLS and any of their administrative requests. All rules, regulations, codes, policies, statutes and laws are put in place to protect our clients.

We as licensed agents, are bound by local, State and Federal controls of one form or another. Primarily our fiduciary obligation to each of our clients, which is a felony if we are in breach.

Remember, under your real estate agency disclosure and election the agent and the company has the fiduciary duties of loyalty, obedience, disclosure, confidentiality and accounting in dealings with either the buyer or seller being represented. Regardless of who the Employing Broker (The Company) or the Agent represents in the transaction, the Broker or Agent shall exercise reasonable skill and care in the performance of their duties and shall be truthful and honest with all clients or customers.

The lawful handling of the clients paperwork falls under the skill and care area of our fiduciary duties. We do have a obligation to fulfill our duties and keep our clients represented in a professional manner. This means we will follow the laws, rules , regulations, codes, statutes and policies dictated by our profession and the agencies that we deal with in behalf of our clients.

If you are not clear about your responsibility or about the company's position concerning this matter, please feel free to call or come by the office.


Friday, February 01, 2008


Welcome aboard to Chris Frank and Shannon Schipull that was left off of the earlier posting.

Thank you Mario for bring this to my attention ... My Opps ...

We finished January with 20+ new residential sales and from the activity I believe there are 4 to 5 already working for February ... Keep talking up the REO and Short Sale opportunities to your potential buyers ... the values available are real ... Engle Homes announced their Chapter 11 Bankrutpcy ... big companies with large overheads will be reorganizing over the next couple of years ... you will see more of these headlines ... stay on top of the market, look for value opportunities caused by the market conditions, protect your clients and call if you need assistance ...


02-02 Bruce Johanson
02-06 Daryl Pilcher
02-08 John Jeffrey
02-10 Anita Taylor
02-11 Gustavo Cardenas
02-12 Jorge Flores

Here is a link to my "February Real Estate Update":

This Newsletter is full of interesting and useful information that I think you will enjoy.

This month's issue includes topics such as:

"Home Selling Tips For Spring Buyer's Market";
"Are You Leaving a Tax Deduction on the Table?";
"Five Reasons Houses Beat Stocks";
"Provide An Honest, Complete Mortgage Application";
"Six Signs It's Time For Home Buyers To Buy";

Plus a roundup of January real estate activity as well as much more advice and information.

Historic Fed Move Cuts Both Ways for Borrowers

Hot on the heels of its surprise inter-session rate cut of 75 basis points last week, the Federal Reserve cut key interest rates again, the fifth straight cut since September 2007. In its statement last week, the Fed said it had decided to cut the federal funds rate "in view of a weakening of the economic outlook and increasing downside risks to growth." In other words, economic data suggests the US is on the brink of recession, and the Fed is acting accordingly.

Who benefits from this cut?

If you have a loan that is directly tied to the Prime Rate, you will see an immediate benefit. Home equity lines of credit (HELOCs) and variable rate charge cards are the types of loans that will have an interest rate reduction on their next statement.

What does this mean for long-term rates?

Long-term mortgage rates, the lowest we've experienced in years, could actually increase after this cut, based on historical performance and recent trends.

So if you're waiting for long-term rates to fall further, don't count on it. Your best chance to lock in the lowest rates since 2005 is now. Getting your application in process now will allow you to capture a great rate before it's too late.

What REALLY moves mortgage rates?

Fixed-rate mortgage rates aren't directly tied to Fed interest rate moves. Instead, they tend to follow in the direction of other long-term government bond yields, such as the 10-year Treasury, which historically moves in accordance with the economic outlook and in advance of Fed actions.

The performance of Mortgage Backed Securities, issued by Fannie Mae and Freddie Mac, is what really determines long-term mortgage rates.

How does the economic stimulus package fit into the picture?

The economic stimulus package from Congress and the White House could be a double-edged sword for borrowers. Combined with recent Fed actions, the package could create inflation and bring about higher long-term interest rates.

On the positive side, conforming loan limits are likely to be raised from the current $417,000 to upwards of $625,000. This means great potential savings for purchase and refinance candidates who live in 20 high-cost areas across the country.

What should you do next?

If you're unsure how the rate-cut or the proposed legislation affects your mortgage, don't worry, you're not alone. There's no one-size-fits-all answer. (This article contributed by "The Cox Mortgage Group")