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CCAR News
From the President's Desk
Mary Leidy Appointed Interim CEO
Frisco Sign Ordinance Amended
Failing to Plan When Paying Taxes Means Planning to Fail
CCAR Names 2007 Annual Membership Survey Drawing Winners
Jana Moore Names December's CCAR Satisfaction Survey Winner
REAL Trends 500 Survey

Education
Education Feature Classes

TAR News
Get Your Fingerprints Taken at TAR's Winter Meeting

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We are very fortunate to be in one of the most dynamic real estate markets in the country. Yes, it has slowed a tad, but so has the whole nation. In 2007, houses were on the market an average of 73 days in our area, which is up slightly from 2006, but still about the same as it has been for the last several years. In 2004, houses were on the market a lot longer, an average of 87 days. In addition, average sales prices have increased every year since 2002, and continued in 2007. In fact, the average sales price in 2007 was $248,070, up 6.6 percent from last year. How do I know all this? I read the CCAR Pulse, a marketing tool that only CCAR and ATS members receive. The CCAR Pulse is just another service and advantage that your association provides. Check it out.

I pledge to you that I will do whatever I can to make this year one of the best for our association and its members. With the great staff we have, I know that we can do it. Remember, this is your association, so use it and be a part of it.

Your President,
Jacob Narisi, GRI
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Under the amended ordinance, beginning January 25, garage sale and open house signs can be placed on residential properties with the owner’s permission from 9 a.m. Saturday through 6 p.m. Sunday of the same weekend when a garage sale or open house is held.

Garage sale and open house signs must still meet all other requirements of the Sign Ordinance, which are as follows:

• No signs allowed at subdivision entrances.
• No signs allowed in medians.
• No signs allowed in easements, right of ways.
• No signs allowed on cars, fences, poles or trees.
• No balloons or wind devices.
• Signs must be 10 feet from the curb.
• Sign size cannot exceed six square feet in total area.
• A sign cannot stand higher than four feet tall.

Code Enforcement Officers will continue to patrol major thoroughfares for Sign Ordinance violations and will respond to complaints within residential subdivisions.
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#2: Misunderstanding Audit Odds
The second big mistake is nearly as important as the first, and that’s fearing, rather than respecting the IRS. What does the kind of tax planning we’re talking about do to your odds of being audited? The truth is most experts say it pays to be aggressive. That’s because overall audit odds are so low that most legitimate deductions aren’t likely to wave red flags.

#3: Too Much SE Tax
If you’re like most business owners, you pay as much in self-employment tax as you do in income tax. If that’s the case, you might consider setting up an “S” corporation or limited liability company to reduce that tax.

#4: Wrong Retirement Plan
If you’re looking to save more than the $5,000 limit for IRAs, you have three main choices: Simplified Employee Pensions (SEPs), Simple IRAs or 401ks.

#5: Missing Family Employment
Hiring your children and grandchildren can be a great way to cut taxes on your income by shifting it to someone who pays less.

#6: Missing Medical Benefits
If you itemize deductions, you can deduct unreimbursed medical and dental expenses on Schedule A if they total more than 7.5 percent of your adjusted gross income. Because most of us don’t spend that much, there is a better alternative: a Medical Expense Reimbursement Plan, or Section 105 Plan.

#7: Missing a Home Office
You can use home office expenses to shelter profits, but not below zero. If your home office expenses exceed your net business income, you can carry forward those excess losses to future years.

#8: Missing Car/Truck Expenses
If this deduction is not taken right away, you’re losing money every time you turn on your car.

#9: Missing Meals/Entertainment
The basic rule is that you can deduct costs for meals with a bona fide business purpose. When do you ever eat with someone who’s not a client, prospect, referral source or business colleague? If you’re in a business like real estate, insurance or investments, where you’re marketing yourself, the answer might be “never.” Be as aggressive as you can with what you define as bona fide business discussion.

#10: Missing the Right Tax Advice
Now that you see how business owners miss out on tax breaks, let’s talk about the biggest mistake of all: failing to plan. The saying, “If you fail to plan, you plan to fail” is a cliché because it’s true.

To read the unabridged version of this article, click here. For more information, contact MJ Ahmed, CPA in public practice, at 214-636-8100 or mj@eacctax.com.
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Clare and John received a rebate of their 2008 local dues. Broker/Manager winner Perry Stobaugh of Stobaugh REALTY won $100. Congratulations to each of these lucky members, and thanks again to everyone who participated in the survey.
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The deadline to participate in the survey is February 29. If you have questions or would like more information, please contact Susan Cox at 303-741-1000, 303-471-4392 or scox@realtrends.com.
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Thank You 2008 Installation Advertisers
The Collin County Association of REALTORS® would like to thank the following advertisers for their support of the “One County, One Voice” 2008 Installation of Officers and Directors.

$5,000 Diamond
The Dallas Morning News

$2,500 Platinum
LandAmerica American Title
Republic Title
Tucker Hill, a Southern Land Community

$1,000 Gold
Champions School of Real Estate
Ebby Halliday, REALTORS®
LegacyTexas Bank
Sotherby Homes
Stewart Title

$500 Silver
Coldwell Banker Residential Frisco
Commerce Title Company
Hexter-Fair Title Company
Keller Williams Collin County
WR Starkey Mortgage
Toll Brothers, Inc.

$250 Bronze
Arch Foundation Repair
Chicago Title Insurance Company
Drees Homes
Equity Title
LegacyTexas Title
Portrait Homes
PrimeLending, A Plainscap Co.

Honorable Mention
Ronda K. Allen
America’s Inspectors
Beverly Biehl
Mike Brodie
Burgess Inspection Group
Charly Clark
Complete Site Inspection
Dick Dillingham
Gibbs Residential Inspections
Ito Group Home Inspection
Marvin Jolly
Mr. Skip’s Home Inspection
J.C. Posey
Sheri and Dan Robertson
Mal Smith
Steve Leidy, Handyman
Diana Wright
Kay Wright
Randy Wright
Yellow Hat Inspections
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Finding the Right Candidate in Today’s Political Climate
By Diane Donley, CCAR Government Affairs Director

Your Government Affairs Committee has already been busy this year. They have spent many hours previewing information, comparing candidate questionnaires and meeting personally with incumbents and challengers. It is not a task taken lightly.

When you hear the term “friendly incumbent,” it signifies that an elected official has an understanding of the issues plus a proven track record with NAR, TAR and/or CCAR. We know how they vote on issues important to us and we can count on them to at least listen and consider our viewpoints. They may not always agree with us, but we know where they stand with our issues and that they will always be accessible to our leadership.

You will continue to hear the catch phrase “We need change now!” in the presidential election on down to the local races. Sometimes change is good and necessary, but change for change sake is not always the answer. Knowledge of past efforts, both successful and unsuccessful, and the experience that comes from dealing with recurring issues and problems is also extremely vital.

In Collin County, there has been nothing but change over the last 30 years. Our county and city elected officials have done a phenomenal job of keeping up with the growth and planning for future growth. We have gone from a mostly rural farm community, to a mega-county with over 700,000 residents. Managing that growth is not a job for the inexperienced. We value new ideas and approaches to solving problems, and seasoned elected officials can still be constantly looking for innovative ways to deal with our community issues.

There can be quite a learning curve when embarking on a new job for a freshly elected political official. Typically, you will not see first-year political officials immediately appointed to the most important committees. Rather, they must earn the privilege by exhibiting a proven track record of understanding problems, involving themselves in finding solutions, and working as hard as they can.

So, when you get a recommendation from your Board of Directors to support a particular candidate, you can be assured that much thought and care has gone into the proposal. We never forget that we all live here and want the best for our county, as well as our membership.
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Plano Networking
CCAR, 6821 Coit Rd, Plano. Breakfast and networking start at 8:30 a.m.

Host office for February is Ebby Halliday, REALTORS®

February 5
Speaker: Kelly Milligan, Assistant Vice President, Dallas Area Counsel for Chicago Title Co.
Advertiser: David Weekley Homes

February 12
Speaker: County Commissioner Joe Jaynes
Advertiser: K. Hovnanian Homes

February 19
Speaker: CCAR REALTOR®/Lender Committee Presentation
Advertiser: To be announced

February 26
Speaker: CCAR TRLP
Topic: "Go Green" presentation
Advertiser: Best Price Boxes
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CCAR Committee Meetings
Monthly calendar of committee meetings located at CCAR.

February 1 - Friday, 11 a.m. Education Committee
February 5 - Tuesday, 9:45 a.m. REALTOR®/Lender Committee
February 5 - Tuesday, 9:45 a.m. TREPAC Committee
February 12 - Tuesday, 9:45 a.m. Government Affairs Committee
February 13 - Wednesday, 11:30 a.m. Independent Brokers (Offsite)
February 18 - Monday, 11:30 a.m. Housing Opportunity Committee
February 19 - Tuesday, 9:45 a.m. MLS Committee
February 19 - Tuesday, 9:45 a.m. Affiliate Committee
February 20 - Monday, noon Budget and Finance and Executive Committee
February 26 - Tuesday, 9:45 a.m. REALTOR®/Inspector Committee
February 26 - Tuesday, 9:45 a.m. Membership Development Committee
February 28 - Thursday, 9 a.m. Board of Directors
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CCAR REALTOR® Store: Come See What We Have to Offer
The CCAR REALTOR® Store has a wide variety of merchandise to fit all of your real estate needs:

• Come in and check out the new and improved format for Open House guest registers.

• REALTOR® logo auto expense logs in red and blue sell for $2.75.

• There are only a few 2008 leather REALTOR® planners left. Pick one up today for $29.95.

• The 2008 Mapsco’s have arrived: Dallas – $30.95, Fort Worth – $30.95, Dallas-Fort Worth combo – $57.95, Dallas large print – $39.95, Collin/Grayson, Denton/Cooke and Kaufman/Hunt/Rockwall counties – $21.95 each. Area maps are $20 for a packet of four.

• You asked, we listened! REALTOR® logo static cling decals are here!

• Check out our book selection, including “Real Estate Technology Guide.”

• Nostalgic CCAR whistle key chains slashed to 50 cents.

• Jewelry is 75 percent off through February 29.

• The REALTOR® Store carries a large selection of business card holders priced from $1.50–$12.95.

• We offer door hanger bags, over-the-shoe covers, and stakes that can be sold separately.

The CCAR REALTOR® Store appreciates the opportunity to serve you, and we thank you for your business.

Prices listed above are for CCAR members.
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Get Your Fingerprints Taken at TAR’s Winter Meeting
A new fingerprint requirement for the renewal of all broker and salesperson licensees went into effect on January 1. If your license expires between January 2008 and February 2009, you can schedule an appointment online to have your prints taken during the Texas REALTORS® Winter Meeting in Austin February 23–24. Here's how to do it:

1. Before you make an appointment, visit visit TREC's Web site and generate a FAST Print Pass. This form provides you with a number that you'll need to make your appointment.

2. Go to the Winter Meeting pages of TexasRealtors.com where you'll find a link to the vendor's site as well as step-by-step instructions on how to schedule your appointment.

If you have more questions about the new fingerprint requirement, visit TREC's Web site for a collection of answers to common questions.
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NAR: Stimulus Package Must Include Loan Limit Increase to Immediately Help Homeowners, Economy
Last week, NAR urged President George W. Bush and Congress to help homeowners and the national economy by loosening constraints on Fannie Mae and Freddie Mac as an integral part of a federal stimulus package currently being discussed.

“We believe that any stimulus package must address housing issues and increasing the conforming loan limits for these two government-sponsored enterprises,” said NAR President Dick Gaylord, a broker with RE/MAX Real Estate Specialists in Long Beach, Calif. “The increase in loan limits would not only improve liquidity in the mortgage marketplace, but also boost homebuyers’ confidence levels, resulting in increased sales and economic activity.”

NAR has been calling on Congress and the administration to increase the loan limits for Fannie Mae and Freddie Mac from the current ceiling of $417,000 to $625,000. “This change will permit more families to enter the housing market by making more mortgages available with lower interest rates. Increased home sales will lower inventories and immediately start stabilizing the housing market and the economy,” Gaylord said.

In addition, NAR has been actively advocating for quick passage of the Federal Housing Administration Reform bill. A reformed, modernized FHA program would offer a safe and affordable alternative to subprime mortgages, which are widely blamed for the current high rate of foreclosures and credit crunch. “FHA reform would not only ensure we don’t find ourselves in this very unfortunate situation again, but also it can help many families currently facing foreclosure,” said Gaylord.

In a letter to congressional leaders, NAR estimated that lifting the GSE loan limit to $625,000 would lower interest payments for consumers who get new “GSE jumbo” loans, reduce the supply of homes on the market by one to one-and-one-half months, strengthen home prices by two to three percentage points, and increase economic activity by $42 billion. An additional NAR report shows that increasing conforming loan limits could help reduce foreclosures by 140,000 to 210,000 and result in an additional 348,000 home sales.
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