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Inside this issue:

Volume 1, Issue 53 July 2014

The Longmont Area Economic Council is experiencing some very exciting changes in its organization and would like to invite you to be a part of the new vision. Recently our organization, along with sev-eral community partners including the Real Estate community completed a Target Industry Analysis for economic development in Longmont.

As a first step, the Targeted Industry Analysis recommends establishing a “single front door” for all businesses seeking economic development support in Longmont. In order to achieve this goal, the City of Longmont will be shifting responsibility for several economic development programs to LAEC over the next few months. Most notably, LAEC will add small business support to our traditional mission of fostering primary employer economic development. We feel that the expansion of LAEC’s activities will result in the creation of more well-paying jobs and contribute to expanded economic growth for the Longmont area.

The Real Estate community is an important part of the economic development plan in that housing, of all types (affordable to high end) is key to locating business in our area. Your partnership helps us to provide all the tools necessary to help Longmont grow.

The Economic Council is pursuing a search for a new president who will head up our effort and help model LAEC’s future. We will also be adding an additional full-time staff member to support our ex-panded mission objectives. With our staff in place, we will move aggressively to execute the recom-mendations of the Targeted Industry Analysis and reinforce our support of business in Longmont.

With your support, we see great opportunities for both short and long-term economic growth in our area. We are excited about our expanded role and reenergized alliances with our local economic devel-opment partners such as Realtor® and Affiliate Members of the Longmont Association of Realtors®. I hope you will continue your generous support of our new mission and the realization of a robust eco-nomic future for Longmont.

LAR

Upcoming Education

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LAR

Calendar

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IRES

Article

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IRES

Calendar

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Who’s Where

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Governmental Affairs

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USDA Funding Date: 7/10/2014 Instructor: David Marsh Time: 9:00-11:00am Cost: $20 REALTORS / Non-Members $30 CE Credit: 2 Location: LAR Classroom 2014 4 Hour Commission Update Date: 7/17/2014 Instructor: Lorraine Roemer Time: 9:00-1:00pm Cost: $35 REALTORS CE Credit: 4 Location: LAR Classroom Reverse Mortgages Date: 7/24/2014 Instructor: Doni Dolfinger Time: 9:00-11:00am Cost: $20 REALTORS / Non-Members $30 CE Credit: 2 Location: LAR Classroom Home Inspections Date: 8/7/2014 Instructor: Rob Knepshield Time: 9:00-11:00am Cost: $20 REALTORS / Non-Members $30 CE Credit: 2 Location: LAR Classroom * For complete class details and to register for any of the above classes, please visit our website at www.longmontrealtors.com

Please Support your Association by taking your classes at LAR!

We would like to Thank the following Affiliates for their generous Class Sponsorship during the month of June.

Stephanie Mckay - Heritage Title Company

Sabrina Lee & Chris Milbrath Elevations Credit Union

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July 2014 Sun Mon Tue Wed Thu Fri Sat

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Independent Brokers Meeting 9am

3 4 LAR Office Closed

4th Of July

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Affiliate Committee Meeting 8:30am @ Le Peep

9 LAR New REALTOR Orientation

10 USDA Funding 9-11am

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Of The Year Nominations Due

Director Nominations Due

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15 BOD 8:30am Rookie Club 11-1pm LAR Happy Hour Cheese Importers 4-6pm

16 Lunch & Learn Mortgage Market & Economic Update12-1:30pm

17 2014 4 Hour Commission Update 9am-1pm Governmental Affairs Mtg 2pm

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20 21 22 23 24

Reverse Mortgage Purchases 9-11am

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Be sure to look at your Friday

Notice for more information on

meetings & events at the

LAR!

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Smooth Showings

As the temperature rises, so do the number of showings. How do you stay cool when the heat is on? Here’s how IRESis can help you sail smoothly through showings this summer!

*Showing Set Up: Ready to make your phone calls to set up showing appoint-ments? Pull up the listings in the Showing Guide report instead of the 1 per Page. Click the green arrows to easily put the listings into showing order, plus find the For Showings number conveniently displayed:

*Showing Guides: Once your appointments are scheduled, select the “Client Version” of the Showing Guide to remove the For Showings number. Then, print the report to give your clients a great way to keep track of their thoughts on each property:

Another tool offered through IRES is the Buyer Tour in CloudCMA with customization options and information about the buying process, neighborhoods, schools, restaurants, etc. Click here to view an example. To create a report, simply select the listings in the grid on IRESis.com and click the CloudCMA button. The listing information populates automatically, so after just a few clicks you end up with a slick report!

If your clients have an iPad/tablet, encourage them to bring it along and jot down their thoughts in the MySite Notes section. They can even change their ranking to Maybe or Trash as they view the homes. MySite can always be accessed at www.IRESis.com/mysite.

*Showing Feedback: Did you know you can customize your showing feedback questions if your office uses the IRESis Showings system? Remove any of the required questions and make up two of your own! Look for it in the Add or Edit Listing process, on the Showings screen. Customize questions for just one listing or all future showings.

*One Day Codes: If your office uses Sentrilock, generate One Day Codes right on IRESis. Click the Showings menu and choose the One Day Code screen. It’s as easy as searching for your listing, then clicking a button!

We hope your summer sizzles with successful showings! Let us know what else IRES can do to help you!

By Niki Moran, Projects Manager

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Your local Land Title real estate sales and marketing consultant is

Kyle Snyder 303.328.7157

or ksnyder@ltgc.com

Do You Have A Change?????

Please notify LAR whenever you have a change in

address, email, or phone number.

PRIMARY REALTOR® MEMBERSHIP:

Mary Susan Lombardi – Rocky Mountain Real Estate Inc.

Secondary REALTOR® MEMBERSHIP:

James Cavoto- Ion Real Estate Inc. REALTOR® REINSTATE: None

REALTOR® TRANSFERS:

Courtney Leise- Ion Real Estate Inc.

David Lewallen – KW 1st Realty Associates – Lewallen Real Estate LLC

NEW REALTOR® OFFICE:

Ion Real Estate Inc.

Lewallen Real Estate LLC.

PRIMARY REALTOR® DROPS:

B. Douglas Petersen – Boulder County Properties, LLC

Arissa Pedroza – Turner Realty

REALTOR® OFFICE DROPS:

Boulder County Properties, LLC

PRIMARY AFFILIATE MEMBERSHIP: None

PRIMARY AFFILIATE TRANSFERS: None

PRIMARY AFFILIATE DROPS: None

SECONDARY AFFILIATE MEMBERSHIP: None

SECONDARY AFFILIATE TRANSFERS: None

SECONDARY AFFILIATE DROPS: None

NEW AFFILIATE OFFICE: None

AFFILIATE OFFICE DROP: None

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WHAT DO YOU SAY TO YOUR SELLERS WHEN YOU TAKE A LISTING?

Standard of Practice 1-12 gives us some guidance here. It states the following;

“When entering into listing contracts, REALTORS must advise sellers/landlords of

the REALTOR’S company policies regarding cooperation and the amount(s) of any compensation that will be offered to subagents, buyer/tenant agents, and /or brokers acting in legally recognized non-agency capaci-ties.

In Colorado this requirement is met in the listing contract. Here it is the REALTOR and the seller who decide these things.

The fact that buyer/tenant agents or brokers, even if compensated by listing brokers, or by sellers/landlords may represent the interests of buyers/tenants;

Do you tell your sellers “Don’t give away any of our secrets to brokers showing your house. You can cer-tainly be friendly to everyone but don’t compromise your negotiation position. Mr/Mrs seller the reason you are selling is that you are getting a divorce. If you divulge that to a showing broker it will give them a negotiating advantage. If anyone asks you why you are selling have them call me”

3) any potential for listing brokers to act as disclosed dual agents, e.g. buyers/tenant

agents.

In Colorado we would agree in the listing agreement what our status would

be if WE procured the buyer.

You may have noticed in #1 above the words, “brokers acting in legally recognized non

agency capacities” Consider that to mean Transaction Broker here in Colorado. “Well,” you might ask, “If it means Transaction Broker why doesn’t it say Transaction Broker?” You ask a good question. Here is the rea-son.....In some states what we call Transaction Broker is called something else. It might be called “Facilitator” or some other name…so “legally recognized non agency capacity” will address whatever the term used in any state.

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Barbara Koelzer, Regional Government Affairs Director barbara@ires-net.com 303.886.5675

June 2014

Boulder County

Longmont

Boulder County

Comp Plan Update Targeted by Environmental Activists: During the routine update of the Boulder Valley Comprehensive Plan, a group called the Boulder Rights of Nature (BRON) began to lobby for changes to the Environmental Resources Element (ERE). The group believes that all of nature has inalienable rights, just as human beings do. This includes all animals of course, but goes beyond to include life forms such as algae and even amoebas. The group asserts that corporations exploit nature as property due to the inadequacy of current laws. BRON’s goal is to enact an ordinance in all communities that recognizes the rights of nature and punishes violators.

The desire for inclusion on the part of County staff and the Planning Commission led to BRON’s involvement on the update to the ERE which has already been in consideration for over a year. A working group consisting of two BRON representatives (one of which is the president of the Boulder Audubon Society) and two individuals who do not share BRON’s views, the executive director of the Farmers Alliance for Integrated Resources and a member of the Boulder Area Trails Coalition, plus County staff was convened to reach consensus on ERE language. Unfortunately this working group was unable to reach any agreement and the decision on approving or amending the ERE fell back to the Planning Commission.

On June 18 the Planning Commission voted to approve the ERE, having taken public comments last month. The Commission voted to add language intended to placate BRON, which reads, "Acknowledging our responsibility to ensure that naturally occurring ecosystems and their native species populations continue to exist and flourish in Boulder County, Boulder County will develop conservation and recovery plans for priority species of special concern." BRON’s next move, if it intends to pursue the matter, will be to lobby the County Commissioners when they review the ERE.

The current language of the ERE is hardly “conservative” in that it lists 180 species 150 plants and trees of special concern, meaning that future development that could harm any of items on the list might be subject to special mitigation measures. More information about the ERE is available here: http://www.bouldercounty.org/property/build/pages/bccpupdate.aspx.

To learn about BRON, visit the group’s website: http://boulderrightsofnature.org.

Commissioners Still Considering Gas & Oil Moratorium Extension: Last June the Boulder County Commissioners voted to extend the moratorium on gas and oil development in the unincorporated county that had been in effect since February 2012 until January 1, 2015. On June 12 the Board received a status report but decided not to make a decision regarding an extension of the “temporary” moratorium until this fall. The Commissioners believe the legal battle regarding the Longmont moratorium will have been settled by then and are apparently hoping that the November election will provide them with the legal basis for more stringent local control over the industry.

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REGION

Proposed Reservoirs Would Have Made Difference This Spring: Northern Water says that if Northern Integrated Supply Project (NISP) had been operational, the Poudre River’s spring runoff and the damage it created would have been reduced. Not only that, but both the proposed Glade and Galeton reservoirs would have stored huge volumes of water this year, protecting the region against future drought. "This is one of the better water years we've had recently," said Carl Brouwer, NISP project manager. "This is a great year to illus-trate the value of Glade Reservoir in storing the excess snowmelt runoff."

With the Poudre River peaking at almost 6,000 cubic feet per second and remaining above 4,000 cubic feed per second (CFS) for two weeks, NISP could have diverted 1,000 cfs. "This would not have stopped all flooding downstream in the Greeley area, but it certainly would have reduced the magnitude," Brouwer added.

The recent year's variation in water has also provoked more discussion about new storage in the state, including NISP. The period from 2009 to 2011 was a wet period and produced more than one million acre feet of water over and above what is legally required to Ne-braska. Glade and Galeton would have been full entering 2012, which proved to be one of the driest years on record.

The NISP supplemental Draft Environmental Impact Statement is scheduled for completion later this year. The U.S. Army Corps of Engineers will then release the document and conduct public hearings in 2015.

STATE Governor Vetoes Transportation Bill: On June 4TH Gov. John Hickenlooper vetoed SB 14-197 “Transportation Enterprise Transpar-ency Act” and signed an Executive Order that will improve transparency, accountability and openness relating to the Colorado Depart-ment of Transportation (CDOT) High-performance Transportation Enterprise (HPTE). “We firmly believe that government should al-ways strive to be transparent and accountable,” Gov. Hickenlooper wrote in a letter to the Colorado Senate. “We support SB 14-197’s provisions that improve transparency, accountability, and openness in public-private partnerships. … Unfortunately, SB 14-197 is not just a transparency bill — it also inappropriately constrains the business terms of future P3 (public private partnership) agreements.”

“In committee, private sector representatives warned that the bill’s rushed process and lack of business community input could result in unintended consequences,” the governor’s letter says. “Those worries were shared by city and county officials concerned about limiting future P3s. We share those concerns. With legislation of this complexity, it is critical that all stakeholders and partners be actively engaged in a robust and thorough process to ensure good outcomes and good law; we fear that was not the case with SB 14-197.”

The order also calls for discussions between the Governor’s Office and General Assembly members to create a “Center of Excellence,” which would establish P3 best practices, including programs for ensuring transparency and openness. “This will help all of us be more deliberate about P3s moving forward, without sacrificing opportunities for economic development and investment,” the governor’s order says.

Urban Renewal Bill Rejected: Gov. Hickenlooper vetoed a bill on June 6 that would have increased restrictions on urban-renewal de-velopments, saying that while he understood the intent of the measure, the financial requirements placed on cities in the bill were exces-sive. HB-1375, sponsored by House Minority Leader Brian DelGrosso (Loveland) would have required county officials to get at least one seat on urban renewal authority boards and would have mandated that cities set aside the same percentage of their sales-tax revenue for the areas as the percentage of property-tax revenue that counties give up in the deals. Hickenlooper said that he accepted the addition of a county representative on the boards, but felt the cities’ sales-tax requirement could curtail use of the tools.

“Unfortunately, HB-1375 goes a step too far,” Gov. Hickenlooper wrote in his veto letter to the Legislature. “The bill’s provision that mandates the percentage of property tax increment not exceed the percentage of allocated municipal sales tax increment does not account for the complexity and variety of urban renewal projects. We understand the concerns that such inflexibility could hamstring projects that might benefit from the use of these programs," the governor said.

Terry Ackelson 2118 Steel Street Longmont Co. 80501 303.761.458 Terry@rockymtnhomeinsp.comwww.rockymtnhomeinsp.com Protecting Piece Of Mind

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20% off First Referral 20% off First Time Homebuyers After 1st. Referral 20% Vets After 1st. Referral

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Gas and Oil Compromise Appears Unlikely: As has been widely reported, Gov. Hickenlooper is trying to avert the onslaught of gas and oil initiatives being supported by Rep. Jared Polis and anti-fracking activists by trying to craft a compromise, which would then be considered by the legislature in a special session. Rep. Polis has agreed to pull the 9 initiatives he has filed if the legislature approves more restrictive legislation. However, last Friday he stated that the compromise bill as currently drafted doesn’t go far enough. He supports additional language suggested by the Sierra Club that would elevate health, welfare and safety, including as it pertains to the environment and wildlife -- above the extraction of oil and gas minerals -- in deciding whether a local government's regulations "destroys" an energy company's ability to produce the resources.

Coloradoans for Responsible Reform (CFRR) is one of several business-related groups campaigning against additional gas and oil restric-tions. While CFRR argues avoiding a November ballot fight is in the best interest of Colorado, the organization says that fear of losing in November should not be the primary motivator for a special session. CFRR states that its research shows that an overwhelming majority of Coloradans oppose a ban on oil and gas.

NATION

House Passes 3 Percent Fix: NAR Government Affairs has been closely monitoring the implementation of rules by the Consumer Financial Protection Bureau (CFPB). As part of the implementation of the Qualified Mortgage (QM) regulations, CFPB included in the 3 percent cap on fees and points, amounts paid to affiliate title companies and insurance escrows when there is an affiliate involved in the transaction. Unaffiliated charges are not included in the cap.

For the past three and a half years NAR has been working with regulators to highlight the problems that a distinction between affiliated (those title companies with a business agreement with a real estate brokerage and lender) and non-affiliated title companies created with regard to the calculation of points and fees. Although a recent proposal from the CFPB was designed to address some concerns, NAR continued to push Congress to clarify and fix the 3 percent cap through a legislative remedy that levels the playing field for affiliates.

On June 9 the House of Representatives approved, on a voice vote, H.R. 3211, the Mortgage Choice Act. This NAR-backed bi-partisan legislation is narrowly focused to provide equal treatment for affiliated title fees compared to unaffiliated title fees and clarify the treat-ment of insurance and taxes held in escrow.

Although some consumer groups have opposed the legislation on claims it could weaken the QM ability to repay provisions, the bill maintains the important consumer protections and sound underwriting required under QM and promotes access to affordable mortgage credit.

The bill will move to the United States Senate for consideration later this summer. Legislative prospects at this point are not clear but it is hoped the House action will encourage the Senate to move quickly on the Mortgage Choice Act.

Feds Impose Big Fine for Inadequate Affiliated Business Disclosure: On May 28, 2014, the Consumer Financial Protection Bureau (CFPB) announced a consent agreement and $500,000 fine to a real estate firm for inadequate disclosure language in an affiliated business disclosure. Under the Real Estate Settlement Procedures Act (RESPA) affiliate entities must disclose relationships to consumers at or prior to the time of referral and make clear that consumers are not required to use the affiliate. In the case in question the disclosure form deviated from a sample disclosure published in the regulations by the Department of Housing and Urban Development (HUD).

The CFPB consent order requires the forms to be completely synchronized with published sample including placing the same emphasis on key words. View the HUD sample form here:

http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/ramh/res/resappd

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SentriLock

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SentriLock works every day to serve the true needs of REALTORS®—offering you secure, easy, and report-able access to every listing you manage.

The SentriLock System currently has more than 750,000 lockboxes in use by 290,000 agents from over 270 different boards, associations, and MLSs in the United States and Canada. SentriLock's award-winning cus-tomer care team provides world-class support seven days a week, exclusively from their facility in Cincinnati, Ohio.

According to analysis by Second Century Ventures, SentriLock in the market has saved the industry close to $100 million over the past ten years by controlling costs for this technology, while at the same time SentriLock has made a positive impact on actual real estate opportunities by making it easier to show properties, solicit feedback, and sell properties.

A More Powerful SentriCard®

In addition to lockbox access and administration, REALTORS® can use the SentriCard® to track open house attendance, automatically solicit feedback for open houses, and collect a list of attendees, at no additional cost, through the SentriLock Event Tracker application. Call SentriLock's Customer Support to learn more about how you can add these additional features to your SentriCard®.

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Longmont Association of Realtors®

Mission Statement

The Longmont Association of REALTORS® helps it’s Members to be ethical, professional and successful by providing quality services, protecting the free enterprise system and real property rights.

The Longmont Association of Realtors® is pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the na-tion. The Association encourages and supports an affirmative advertising and marketing program in which there are no barriers to obtaining because of race, color, religion, sex, handicap, familial status or nation origin.