Welcome to dabr.com,
the premiere website for real estate in the greater Dayton area and online home of the Dayton Area Board of REALTORS®, the voice for real estate in the Dayton area™.
This issue contains stories on our 100th Anniversary celebration, the latest area statistics and top 10 area sales, valuable information on RPAC, and much more.
Read the May Issue
On April 26, the Dayton Area Board of REALTORS® ran a special insert in the Dayton Daily News. This 12-page insert celebrated the board's 100th anniversary and highlighted what DABR continues to do for its members and the community.
If you missed the special insert, it's not too late to read it! Download the pdf here to read the stories, or stop by the board office and pick up a copy.
Download the DABR Anniversary Insert
New "Contract to Purchase" forms, which reflect recent state law changes to the earnest money provision, will be available for use after April 6.
Ohio House Bill 130 changes the "Contract to Purchase Real Estate" form's earnest money language. This provision will give the parties two years from the date the earnest money was deposited in the broker’s trust account to provide the broker with either written instructions on how it is to be disbursed or notice that legal action has been filed with the courts. If neither of these is provided to the broker, the broker can remit the earnest money to the purchaser with no further notice to the seller.
While the use of the new contract is optional, the board highly recommends that members begin using it after April 6, in order to avoid having to modify the existing contract. Should members choose to continue to use the old contracts, they may wish to consult legal council about language that should be stricken or rewritten to comply with the state law.
The DABR offices began taking orders for the new form on Thursday, March 26. A downloadable version of the form will be available at dabr.com's Forms Center on April 1.
For complete details regarding this new law, refer to the Division of Real Estate and Professional Licensing NEWSLETTER here.
Click here to view the new language in the "Contract to Purchase Real Estate"
On March 19, 2009, the Obama Administration unveiled its new website on its Making Home Affordable Program. The program has two main components: (1) refinancing of Fannie Mae and Freddie Mac loans for borrowers who are current and have loan-to-value ratios of 80%-105%, and (2) loan modification for borrowers in default or at imminent risk of default who have high debt-to-income ratios and mortgages with balances up to $729,750. The new website is designed to make information about eligibility, free counselors, and other program details readily available. It also includes links that let borrowers learn whether they have a Fannie Mae or Freddie Mac loan. These programs are key elements in the effort to turn around the housing market by preventing foreclosures and avoiding unnecessary increases in the inventory of unsold homes.Visit www.MakingHomeAffordable.gov
The Dayton Area Board of REALTORS® is a trade association representing nearly 3,000 REALTOR® and affiliate members in Montgomery, Greene, and Preble Counties in Ohio. As members of organized real estate, REALTORS® subscribe to a strict code of ethics and have access to numerous services and programs to enhance their professionalism. Educational programs and seminars help members gain new skills and professional designations. Since 1909, DABR has provided its members with the resources they need to enhance professionalism and ensure the continued growth and success of real estate practitioners to better serve those they represent -- you, the consumer.
© 2009 Dayton Area Board of REALTORS®. All rights reserved.