Announcements

Holiday Cards

Again this year, CBR will offer Holiday Cards for sale. Proceeds from the sales of the holiday cards benefit the REALTOR® Foundation Fund, affordable housing programs and real estate scholarships in the Central Ohio area.

The cost is just $15/25 cards ($16.01 with tax.) Orders of 100 cards or more may be customized with your own personal message for a flat fee of $15.

To place an order, call CBR's Michelle Hannahs at (614) 475-4000 x221. Cards designed by Nate Huber, CBR Graphic Design Coordinator.

Sunset KeyBox Committee

Due to the lack of complaints received regarding the CBR electronic lockbox system, the Board of Directors voted to sunset the KeyBox Committee in 2005. In the future, complaint reviews will be handled through the Grievance and Professional Standards Committees.

Directors advise that, when you call to request permission to access a keybox, write down the name of the person you speak with as well as the date and time of your conversation. This information will be valuable if you are ever accused of accessing a home without prior approval.

Sales Associates Day Raffle

The Equal Opportunity Committee will hosts a raffle at Sales Associates Day to raise funds for the grant program. Several nice prizes have been donated, including a Hot Air Balloon ride, restaurant certificates, OSU themed and fall baskets, for this event. So bring cash for a chance at one of these prizes and to contribute to this very worthwhile program.

Spotlight on Community Service Application

The Columbus Board of REALTORS® Communication Committee is accepting applications for the 1st quarter 2005 Spotlight on Community Service recognition. Four REALTOR® members will be selected and featured in the January In Contract for their work in the community. If you or a colleague is deserving of this recognition, please nominate yourself or your colleague by completing the application, which is one of the inserts in this month's issue. The deadline for submitting the application is November 1, 2005. Click here for more info.

Entire town listed for sale

It is not every day that an entire town goes up for sale, but that is exactly what is happening with Kitsault, British Columbia. The price? Offers in the $7,000,000 range are expected. Located 500 air miles north-west of Vancouver, and a 3.5 hour drive north of Terrace, Kitsault was once a thriving coastal community on the shores of the Alice Arm fjord. The town is surrounded by snow-capped mountains and is situated on approximately 1.5 miles of ocean front. It has been vacant since the early 1980s when a nearby molybdenum mine shut down.

A caretaker and his wife are the only residents who remain. The Kitsault town site consists of more than 322 acres on eight titles. It includes approximately 90 houses and duplexes, seven apartment buildings, more than 20 foundations for double wide mobile homes, a shopping center, two recreation centers, a hospital, a large works yard and a local dock. Except as to title, the town will be sold on an ?as is? basis. LandQuest Realty Corp. has been retained to sell the Kitsault town site.

Pilot program offers 40-year mortgages

About a dozen credit unions across the country began offering 40-year fixed-rate mortgages this year as part of a pilot program through Fannie Mae. The idea behind the extra 10 years is simple: Make houses more affordable to more consumers by extending the loan terms. The interest rate on the 40-year fixed-rate mortgage is about 1/4 to 3/8 percentage point higher than on the standard 30-year mortgage. But the longer amortization period helps lower the monthly payments. On a $200,000 mortgage, monthly payments are about $67 lower than they would be with a 30-year mortgage. 40-year mortgages could make an attractive alternative to interest-only loans. Fannie Mae rolled out the pilot earlier this year to gauge how popular such a loan would be. Interest in the loan has been slow so far but is expected it to pick up as interest rates increase and price out some first-time home buyers.

Dues Increase for Affiliate Members

One of the goals this year for the Columbus Board of REALTORS® Affiliate Liaison Committee was to research a dues increase for corporate affiliate and sustaining members.

Their research found that it has been 10-12 years since CBR raised dues for these two membership categories and that CBR has continued to increase and improve services for both affiliate and sustaining members.

The committee?s proposed dues increase was submitted to and approved by the CBR Board of Directors. The dues increase, which will be effective for the 2005 dues billing, includes a $20 increase ($275 to $295) for corporate affiliate members; and a $25 increase ($150 to $175) for sustaining members.

The $50 annual dues amount and $125 application fee remain the same.

Fall CondoQuest

Fall CondoQuest, presented by the Building Industry Association of Central Ohio, is a scattered site event showcasing new condominiums, townhouses, patio homes and cluster housing throughout central Ohio.

The purpose of the show is to drive as much traffic as possible to the sites through a collective marketing effort.

CondoQuest runs from Noon - 6:00 p.m. daily and is free of charge for the public. To find locations of the condos on the tour, please visit www.columbuscondoquest.com.
For additional information, please contact the BIA at (614) 891-0575.

CBR 2005 Committee Selection

Please consider serving on one of the 20+ CBR committees next year. Click here for the 2005 Committee Registration Form.

Remember, in order to qualify for the CBR Sales award, you must have fulfilled the service requirement of serving on a CBR committee (and meeting its attendance requirement) or serve as an officer in a real estate related organization. Click here for Million Dollar Club information.

Deadline is November 2 for Million Dollar Club Award

If you are planning to apply for the CBR $1, $5, $10 or $25 Million Dollar Club award, the deadline of November 2 is fast approaching. The sales award year is November 1, 2003 through October 31, 2004.

Remember, in order to qualify this year, you must have fulfilled the service requirement which includes serving on a CBR committee (and meeting its attendance requirement) or serving as an officer in an area association.

When submitting your application...

Closings PRIOR to Sept.1, 2000... you will need copies of your name highlighted on the HUD contract or MLS Agent Full Report (if listing credit), and/or purchase contract (if sales credit).
Closings ON or AFTER Sept.1, 2000... you will need copies of your name highlighted on the HUD and listing contract, and a completed Sales Certification Form, signed by you and the Settlement Agent.

It makes no difference if the listing agent(s) and selling agent(s) use the same form! You can use separate forms if you wish! Rules and application forms are available at the CBR office and under by clicking here.