That’s right.  You don’t need to be in Washington, DC to be a part of this historic event.  You can take part in our Virtual Rally. And it’s important that you do.

NAR President Moe Veissi has set a goal of 100,000 Virtual Rally participants to add to the thousands rallying on the grounds of the Washington Monument the morning of May 17.

Add your name to the map of REALTORS® nationwide who support home ownership. After you add your name to the map, share your support on Facebook. You can also use Twitter to contact your Members of Congress to let them know that you believe in the American Dream of Home Ownership. Please tell your friends and colleagues to do the same.

Let’s make this map a sea of REALTOR® blue from coast to coast. Rally on REALTOR® Party!

Online Real Estate Giant Adds Video on Demand to Search Experience with RealBizMedia

CAMPBELL, Calif., May 14, 2012 /PRNewswire/ — Realtor.com operator, Move, Inc. (NASDAQ: MOVE), the leader in online real estate, and RealBizMedia, the leading provider of rich media content delivery for the real estate industry, today announced an agreement to launch the Realtor.com Channel powered by the Home Tour Network, part of the RealBizMedia’s group.

Go to:  www.typensave.com

Username:  ARA

Password:   rosemary310

Not all of our Local Boards have entries in the cookbook yet and I know that you will want your Board and it’s Affiliates to have a presence in such a valuable product.

We are working now on Advertising pages (does that interest you) to place an ad for very littlecost that will last a lifetime and be seen in homes all across the United States?  Contact me if you are interested

Some of you guys can really cook!!  We also will have a BEVERAGE section, and we know the REALTORS® have lots of favorite beverages.

A lot of you have asked, and YES we will be taking advanced orders at the June Meetings.  The Cookbooks be made available for pick up in September at the State Convention, LR Peabody.  Look for those pre-order forms at the Registration Desk and bring your checkbook/credit card to place your order and be one of the first to order these Keepsake Cookbooks.  Some ideas folks have given us is to buy several to give away as closing gifts, Christmas Presents and OF COURSE get one for yourself.

Enter your recipes today at the website above and be thinking of how many cookbooks you want to order and if you would like to advertise in the cookbook.

We will keep this short and to the important point.

Facebook is becoming a more and more critical part of every business’ marketing mix – especially for real estate professionals. With 100,000,000 adults in America between the ages of 30-55 on Facebook regularly, it is easy to understand why. You must figure out ways to reach these potential buyers and sellers with your message.

To that end, we have recently added a new and really smart service to our Association’s Facebook page called the Real Estate Agent Directory. This service, which you can join for free, allows those millions of Facebook users to find, learn about and connect with you.

Simply click the link below and take 10-15 minutes to sign up.

Oh, one more thing. We are also in a contest among other State Associations to see who can have a higher percentage of their members sign up. The winner will receive a $2,000 donation and, of course, we’d like to win it!

Sign up today. Share with others. Go Arkansas!

Click here and look for the green join button!
http://www.facebook.com/ArkansasRealtors/app_274562259224700

MCLEAN, Va., May 8, 2012 /PRNewswire/ — Freddie Mac (OTC: FMCC) today released the results of its first quarter refinance analysis showing homeowners who refinance continue to strengthen their fiscal house.

According to the release:

• In the first quarter of 2012, 79 percent of homeowners who refinanced their first-lien home mortgage either maintained about the same loan amount or lowered their principal balance by paying-in additional money at the closing table. Of these borrowers, 58 percent maintained about the same loan amount, and 21 percent of refinancing homeowners reduced their principal balance; the share of borrowers that kept about the same loan amount was the highest in the 26-year history of the analysis.
• “Cash-out” borrowers, those that increased their loan balance by at least five percent, represented 21 percent of all refinance loans; the weighted average cash-out share during the 1985 to 2008 period was 50 percent.
• The median interest rate reduction for a 30-year fixed-rate mortgage was about 1.5 percentage points, or a savings of about 27 percent in interest rate, the largest percent reduction recorded in the 27 years of analysis. Over the first year of the refinance loan life, the median borrower will save about $2,900 in interest payments on a $200,000 loan.
• The net dollars of home equity converted to cash as part of a refinance, adjusted for inflation, was at the lowest level in nearly 17 years (since the third quarter of 1995). In the first quarter, an estimated $5.3 billion in net home equity was cashed out during the refinance of conventional prime-credit home mortgages, down from $7.0 billion in the fourth quarter and substantially less than during the peak cash-out refinance volume of $83.7 billion during the second quarter of 2006.
• Among the refinanced loans in Freddie Mac’s analysis, the median prior loan life was 4.3 years. One-half of the loans that were paid-off had been in place from between three and seven years, that is, had been originated between 2005 and 2009.

According to Frank Nothaft, Freddie Mac vice president and chief economist, “The typical borrower who refinanced reduced their interest rate by about 1.5 percentage points. On a $200,000 loan, that translates into saving about $2,900 in interest during the next 12 months.  Fixed-rate mortgage rates hit new lows during March, with 30-year product averaging 3.95 percent and 15-year averaging 3.20 percent that month, according to our Primary Mortgage Market Survey^®.

“The enhancements to HARP announced in October, such as removing the maximum loan-to-value limit, are beginning to show up in additional refinance volume during the first quarter.  HARP loans were 20 percent of Freddie Mac’s refinance fundings during the first quarter, the highest share since HARP’s inception.”

Get the latest information from Freddie Mac’s Office of the Chief Economist on Twitter:@FreddieMac

Cash-out Refinance Analyses Information

These estimates come from a sample of properties on which Freddie Mac has funded two successive conventional, first-mortgage loans, and the latest loan is for refinance rather than for purchase. The analysis does not track the use of funds made available from these refinances. The analysis also does not track loans paid off in entirety, with no new loan placed.

• Quarterly Cash-Out Statistics[XLS]
• Quarterly Cash-Out Volume [XLS]

Related Links

Current and Previous Cash-Out Refinance information

Freddie Mac House Price Index (FMHPI (SM))

Primary Mortgage Market Survey (PMMS®)

Average Mortgage Rate Outstanding

Press Release Archives

Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation’s residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for one in four homebuyers and is one of the largest sources of financing for multifamily housing. www.FreddieMac.com.

SOURCE Freddie Mac

“This month’s survey shows a continued gradual improvement in consumer sentiment and outlook for home prices,” said Doug Duncan, vice president and chief economist of Fannie Mae.  “After flatlining at depressed levels for over a year, a growing share of consumers indicate that it is a good time to sell, suggesting rising optimism for the housing market.  Overall, consumer views of housing market conditions have become more supportive of home purchases, and sustained healthy hiring is required to help realize these improved expectations. Friday’s report of a second consecutive setback in job creation supports the view that the housing recovery will remain uneven this year.”

On average, Americans expect home prices to increase 1.3 percent over the next twelve months (the highest value yet recorded), while the percentage of Americans who say it is a good time to sell their home continued to rise to 15 percent in April (up from low, flat levels during 2011).  In turn, confidence in the economy’s direction rose to a survey all-time high in April (hitting 37 percent, an increase of 2 percentage points from last month).  Another positive trend is the increased share of those who reported their income as “significantly higher” from twelve months ago, which is now at the highest level recorded over the past year and 7 percentage points higher than those who reported income as “significantly lower” (the largest difference between the two since the survey began).

SURVEY HIGHLIGHTS

The Economy and Household Finances

• Confidence in the economy’s direction rose to the highest point in the survey’s two-year history this month, hitting 37 percent, an increase of 2 percentage points from last month.
• Only 12 percent think that their personal financial situation will worsen in the next 12 months, consistent with February and March as the lowest value in more than a year.
• Twenty-three percent of respondents saw an increase in their personal income from 12 months ago, a 2 percentage point increase from March and the highest level recorded during the past year.
• Thirty-six percent say their expenses have increased significantly over the past 12 months, a 2 percentage point increase from last month and a return to the level recorded in January.

Homeownership and Renting

• On average, Americans expect home prices to increase by 1.3 percent over the next 12 months, up 0.4 percentage points since last month and the highest value yet recorded.
• Thirty-two percent of respondents expect home prices to increase over the next 12 months, a slight decline from the sharp spike last month.
• Thirty-nine percent of Americans say that mortgage rates will go up in the next 12 months, consistent with last month’s value.
• The percentage of Americans who say it is a good time to buy decreased by 2 percentage points to 71 percent, while the percentage of respondents who say it is a good time to sell continued to increase this month to 15 percent.
• On average, respondents expect home rental prices to increase by 3.6 percent over the next 12 months, a 0.5 percentage point decrease versus last month.
• Forty-nine percent of respondents think that home rental prices will go up, a 1 percentage point increase from last month and the highest number recorded to date.
• Thirty-two percent of respondents say they would rent if they were going to move, a 2 percentage point increase from last month and the highest level since November 2011.

The most detailed consumer attitudinal survey of its kind, the Fannie Mae National Housing Survey polled 1,000 Americans via live telephone interview to assess their attitudes toward owning and renting a home, mortgage rates, homeownership distress, the economy, household finances, and overall consumer confidence.  Homeowners and renters are asked more than 100 questions used to track attitudinal shifts (findings are compared to the same survey conducted monthly beginning June 2010).  Fannie Mae conducts this survey and shares monthly and quarterly results so that we may help industry partners and market participants target our collective efforts to stabilize the housing market in the near-term, and provide support in the future.

For detailed findings from the April 2012 survey, as well as technical notes on survey methodology and the questions asked of respondents associated with each monthly indicator, please visit the Fannie Mae Monthly National Housing Survey site.  Also available on the site are quarterly survey results, which provide a detailed assessment of combined data results from three monthly studies. The April 2012 Fannie Mae National Housing Survey was conducted between April 4, 2012 and April 27, 2012. Interviews were conducted by Penn Schoen Berland, in coordination with Fannie Mae.

Fannie Mae exists to expand affordable housing and bring global capital to local communities in order to serve the U.S. housing market. Fannie Mae has a federal charter and operates in America’s secondary mortgage market to enhance the liquidity of the mortgage market by providing funds to mortgage bankers and other lenders so that they may lend to home buyers. Our job is to help those who house America.

 HUD Assistant Secretary Raphael Bostic said, “We’re making important progress in providing relief to homeowners under the Obama Administration’s programs. With fewer borrowers falling behind on their mortgages and almost half a million families taking advantage of our enhanced Home Affordable Refinance Program – standing to save on average $2,500 per year – it’s clear that the Administration’s efforts continue to provide significant positive benefits.” Bostic continued, “But with so many homeowners still struggling to pay their mortgages or move into more sustainable loans, we cannot rest on our laurels. That is why we are asking the Congress to approve the President’s refinancing proposal so that more homeowners can receive assistance.”

“The Administration’s programs have helped millions of homeowners achieve sustainable mortgage assistance to prevent foreclosure,” said Treasury Assistant Secretary for Financial Stability Tim Massad.  “The standards these programs have created continue to prompt the mortgage industry to provide improved outcomes for homeowners more broadly.”

The April Housing Scorecard features key data on the health of the housing market and the impact of the Administration’s foreclosure prevention programs, including:

•  The Administration’s recovery efforts continue to help millions of families deal with the worst economic crisis since the Great Depression.  More than 5.9 million modification arrangements were started between April 2009 and the end of March 2012 – including more than 1.8 million Home Affordable Modification Program (HAMP) trial modification starts and more than 1.3 million FHA loss mitigation and early delinquency interventions. The Administration’s programs continue to encourage improved standards and processes in the industry, with HOPE Now lenders offering families and individuals more than 2.8 million proprietary mortgage modifications through February.
•  More than 1.1 million homeowner assistance actions were granted through Making Home Affordable.  Eligible homeowners entering HAMP continue to demonstrate a high likelihood of long-term success in the program. As of March, more than 990,000 homeowners received a permanent HAMP modification, saving approximately $535 on their mortgage payments each month with a total estimated savings of $12.2 billion to date.  Eighty-six percent of homeowners entering the program in the last 21 months have received a permanent modification, with an average trial period of 3.5 months. After six months in the program, more than 94 percent of homeowners remain in their HAMP permanent modification.  The Office of the Comptroller of the Currency (OCC)’s Mortgage Metrics Report for the Fourth Quarter of 2011 found that HAMP modifications continue to exhibit lower delinquency and re-default rates than industry modifications. View the March MHA Servicer Performance Report.

The Council of Residential Specialists (CRS) will offer strategies and solutions for using Facebook ads to promote real estate listings in its next webinar, Selling Homes with Facebook Ads, on Wednesday, May 23, 2012 at 1:00 p.m. CST. Participants who complete this webinar will earn one unit of credit toward the CRS Designation.

Jason O’Neill, CRS, broker-owner of McKenzie Real Estate in Indianapolis, will lead the discussion about how agents can make Facebook ads both profitable and beneficial professionally. O’Neill has more than eight years experience selling real estate properties in the Indianapolis market and has a wealth of knowledge about market trends, statistics and promotional strategies.

In this one-hour webinar, O’Neill will demonstrate powerful ways agents can focus their advertising dollars to targeted audiences, allowing them to build fan pages and sell more homes. Webinar topics include target marketing, creating ads, getting a return on investment, managing ads, tracking results and much more.

Registration is $20 for CRS Designees, $25 for CRS general members and $30 for all other participants. To register, call CRS customer service at 1-800-462-8841 or sign up online at http://www.crs.com/Education/287?cid=W079L

CRS webinars have helped thousands of CRS Designees and real estate professionals learn about some of the hottest topics in the residential real estate industry. CRS webinar recordings are also available for download via smartphone, Apple iPad or tablet PC at www.crs.com/Education/1781.

The Council of Residential Specialists is a not-for-profit affiliate of the NATIONAL ASSOCIATION OF REALTORS® comprised of more than 33,000 members. It awards the CRS Designation to experienced Realtors® who have completed advanced professional training and demonstrated outstanding professional achievement in residential real estate.

Move, Inc. (NASDAQ: MOVE), the leader in online real estate, today reported financial results for the first quarter ended March 31, 2012.

Points of Interest in the Survey:

• 30-year fixed-rate mortgage(FRM) averaged 3.84 percent with an average 0.8 point for the week ending May 3, 2012, down from last week when it averaged 3.88 percent. Last year at this time, the 30-year FRM averaged 4.71 percent.
• 15-year FRM this week averaged 3.07 percent with an average 0.7 point, down from last week when it averaged 3.12 percent. A year ago at this time, the 15-year FRM averaged 3.89 percent.
• 5-year Treasury-indexed hybrid adjustable-rate mortgage(ARM) averaged 2.85 percent this week, with an average 0.7 point, unchanged from last week when it averaged 2.85 percent. A year ago, the 5-year ARM averaged 3.47 percent.
• 1-year Treasury-indexed ARM averaged 2.70 percent this week with an average 0.6 point, down from last week when it averaged 2.74 percent. At this time last year, the 1-year ARM averaged 3.14 percent.

Average commitment rates should be considered along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following links for Regional and National Mortgage Rate Details and Definitions. Freddie Mac says borrowers may still pay closing costs which are not included in the survey.

Frank Nothaft, vice president and chief economist at Freddie Mac said, “Signs of slowing economic growth and inflation remaining subdued allowed yields on Treasury bonds to ease somewhat and brought most mortgage rates to new all-time record lows this week. Real Gross Domestic Product rose at an annualized rate of 2.2 percent in the first quarter of this year, down from the previous quarter of 3.0 percent and below the market consensus forecast of 2.5 percent. In addition, the 12-month growth in the core price index of personal consumption expenditures was 2.0 percent in March which matches the Federal Reserve’s implied inflation target.”

Get the latest information from Freddie Mac’s Office of the Chief Economist on Twitter:@FreddieMac

Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation’s residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Over the years, Freddie Mac has made home possible for one in six homebuyers and more than five million renters.