NORTH PUGET SOUND ASSOCIATION OF REALTORS
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Disclosure Lawsuit Against Island County Brokerages Dismissed

10/22/2015

 
by Bill Clarke & Nathan Gorton | WA REALTORS® | Aug 25, 2015 

Island County real estate brokerages are pleased that a Skagit County Superior Court judge recently dismissed a lawsuit against real estate firms asserting non-compliance with Island County’s noise disclosure ordinances.  The Court determined that the disclosure provided in real estate transactions was adequate to notify prospective buyers of the existence of noise from Navy jets based at Naval Air Station Whidbey Island in Oak Harbor.  The plaintiffs in the case sought to create a class action lawsuit against real estate brokerages for transactions dating back many years.
​
Washington REALTORS® supported Island County real estate brokerages in organizing a defense against the lawsuit, and assisted the North Puget Sound Association of REALTORS® in explaining this issue to the public.  “We provided a disclosure that stated ‘there is significant aircraft noise.’   Both plaintiffs in this case signed this disclosure.  Our members will continue working with Island County to ensure that adequate disclosure occurs.  We greatly appreciate Washington REALTORS® assistance with this issue,” said Eric Mitten, broker and owner with Windermere Real Estate, one of the defendants in the case.

'I Am A Realtor' Monthly Award

10/22/2015

 
The Communications Committee is seeking nominations for a new monthly award to promote Realtor Awareness within the community.
Award winners for each month will have their photo and bio appear on our RE Weekly ad space!
You can nominate an associate, or nominate yourself!
How does your nominee demonstrate community spirit? We want to share it!
Please see the nomination form for more information. We will be reviewing all nominations monthly at our Committee meeting. You don’t need to resend your nomination each month, but you may ‘update’ a nomination at any time.

We hope to hear from you soon!
The Communications Committee

FHA Annual Premium Reduction Finalized

10/20/2015

 
By Megan Booth, Sarah C. Young, Colin Allen
January 9, 2015

On Jan. 8, 2015, at a speech in Phoenix, AZ attended by NAR President Chris Polychron, President Obama announced that the Federal Housing Administration (FHA) would reduce FHA annual mortgage insurance premiums (MIP) by 50 basis points.  This reduction is a victory for the National Association of REALTORS® whose members have called for lower fees on FHA loans since early 2014.  NAR raised concerns about the costly premiums to FHA Commissioner Galante in April 2014, and NAR has lead a  coordinated effort with other advocacy groups and members of Congress to achieve this victory.  NAR estimates that a 50 basis point reduction in the annual MIP from 1.35 percent to .85 percent would price-in an additional 1.6 million to 2.1 million renters, along with many trade-up buyers, resulting in 90,000 to 140,000 additional annual home purchases.

The premium reduction will be effective for case numbers assigned on or after Jan. 26, 2015. To allow borrowers already in the loan pipeline to take advantage of the lower rates, FHA will temporarily approve cancellation requests for active FHA Case Numbers within 30 days of the effective date of this ML.  Full details of the premium changes are published in Mortgagee Letter 2015-01.

NAR Press Release
Source: Realtor.org
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517 E. Fairhaven Ave - Burlington, WA 98233
Mission Statement: The North Puget Sound Association of Realtors advocates for Realtors and their clients,
and promotes the protection of property rights.
Copyright 2015 North Puget Sound Association of Realtors All Rights Reserved

  • Home
  • Calendar
  • Member Info
    • REALTOR Offices
    • Affiliate Offices
    • Board & Committee Chairs
    • Committee Information
    • Applications and Member Documents
  • EDUCATION
  • Government Affairs
  • Professional Standards
  • Contact

Disclosure Lawsuit Against Island County Brokerages Dismissed

10/22/2015

 
by Bill Clarke & Nathan Gorton | WA REALTORS® | Aug 25, 2015 

Island County real estate brokerages are pleased that a Skagit County Superior Court judge recently dismissed a lawsuit against real estate firms asserting non-compliance with Island County’s noise disclosure ordinances.  The Court determined that the disclosure provided in real estate transactions was adequate to notify prospective buyers of the existence of noise from Navy jets based at Naval Air Station Whidbey Island in Oak Harbor.  The plaintiffs in the case sought to create a class action lawsuit against real estate brokerages for transactions dating back many years.
​
Washington REALTORS® supported Island County real estate brokerages in organizing a defense against the lawsuit, and assisted the North Puget Sound Association of REALTORS® in explaining this issue to the public.  “We provided a disclosure that stated ‘there is significant aircraft noise.’   Both plaintiffs in this case signed this disclosure.  Our members will continue working with Island County to ensure that adequate disclosure occurs.  We greatly appreciate Washington REALTORS® assistance with this issue,” said Eric Mitten, broker and owner with Windermere Real Estate, one of the defendants in the case.

'I Am A Realtor' Monthly Award

10/22/2015

 
The Communications Committee is seeking nominations for a new monthly award to promote Realtor Awareness within the community.
Award winners for each month will have their photo and bio appear on our RE Weekly ad space!
You can nominate an associate, or nominate yourself!
How does your nominee demonstrate community spirit? We want to share it!
Please see the nomination form for more information. We will be reviewing all nominations monthly at our Committee meeting. You don’t need to resend your nomination each month, but you may ‘update’ a nomination at any time.

We hope to hear from you soon!
The Communications Committee

FHA Annual Premium Reduction Finalized

10/20/2015

 
By Megan Booth, Sarah C. Young, Colin Allen
January 9, 2015

On Jan. 8, 2015, at a speech in Phoenix, AZ attended by NAR President Chris Polychron, President Obama announced that the Federal Housing Administration (FHA) would reduce FHA annual mortgage insurance premiums (MIP) by 50 basis points.  This reduction is a victory for the National Association of REALTORS® whose members have called for lower fees on FHA loans since early 2014.  NAR raised concerns about the costly premiums to FHA Commissioner Galante in April 2014, and NAR has lead a  coordinated effort with other advocacy groups and members of Congress to achieve this victory.  NAR estimates that a 50 basis point reduction in the annual MIP from 1.35 percent to .85 percent would price-in an additional 1.6 million to 2.1 million renters, along with many trade-up buyers, resulting in 90,000 to 140,000 additional annual home purchases.

The premium reduction will be effective for case numbers assigned on or after Jan. 26, 2015. To allow borrowers already in the loan pipeline to take advantage of the lower rates, FHA will temporarily approve cancellation requests for active FHA Case Numbers within 30 days of the effective date of this ML.  Full details of the premium changes are published in Mortgagee Letter 2015-01.

NAR Press Release
Source: Realtor.org
<<Previous
Forward>>