After thirty-five years of meeting at 8:00 a.m., the Fort Walton Beach MLS Tour will change its starting time to 8:30 a.m. beginning September 17. The tour meets every Wednesday morning in the Kathy Sublett Education Center at ECAR. Questions about the change should be directed to tour co-director Denise Bavarian at 850-244-2100.

Sensitive to economic conditions and determined to host a successful golf tournament, the ECAR Realtor Outreach Committee (ROC) has lowered the per-player price to $85 in the September 19, 2008, ECAR 2008 Charity Golf Tournament. Members, affiliates, and community leaders are encouraged to participate in the event at the Indian Bayou Golf & Country Club in Destin to help raise money for local charities. Individual registration fees are typically tax deductable.

Click here to print a golfer registration form.

Click here to watch a short video on the golf tournament

As a follow-up to previous discussion regarding Doc. Stamps Taxes on Short Sales, rumor had it, due to a widely circulated letter, that DOR had mandated the charge of Doc. Stamp taxes on the higher amount rather than the short sale amount. This is NOT true and is NOT the binding opinion of DOR. In fact, the letter containing that information was one employee’s opinion based upon a brief call to their 1-800 help line and pertained to only that case scenario. DOR is still reviewing this issue and has not reached closure. Again, this letter does NOT represent the official position of the Department of Revenue.

FAR has worked closely with DOR, at the highest levels possible, to explain, offer technical assistance, and help the staff understand the “short sale” transaction. FAR has also officially requested a Technical Assistance Advisory (TAA) with DOR in order to provide Realtors with a specific document to work from. While FAR is hopeful that an outcome favorable to all parties will occur (an advisory using the lower amount), an unfavorable outcome is possible. FAR has advised ECAR that they are prepared for that as well, including exploring possible “amnesty” avenues in the Legislative arena on past “short sale” transactions.

FAR has been working diligently on this issue now for a month, and on Tuesday (09/02/08) received word from the DOR that the TAA should be available soon. Advisories can sometimes take months, or even a year before a conclusion is made, so the DOR expediency illustrates their understanding of the importance of this issue.

For further information please contact Cliff Long, ECAR Government Affairs Director at 850 243-6145

Realtors have to work to earn a buck. Self-promotion is the name of the game, but sometimes that can lead to trouble. In his latest blog entry, ECAR CIO Geoff Gurney describes one Realtor’s costly experience and tips on how members may be able to avoid scams.

Read Geoff’s Blog

Golf enthusiasts may still sign up to play in the Realtor Outreach Committee Annual Charity Golf Tournament September 19 at the Indian Bayou Golf & Country Club in Destin. Individual players or teams may sign up using the registration form. The event is not limited to ECAR members; anyone may play.

Would-be golfers may want to take advantage of a great opportunity to learn more about the game. Golf professional Fritz Johnson will be offering two lessons the morning of the tournament for $10 each. A lesson on swinging will begin at 9:00 a.m. and instruction on putting and chipping starts at 10:00 a.m. Each lesson is limited to twenty participants. Contact Sam Kinkaid, 585-1387, for more information.

Click here to print a golfer registration form.

Click here for more information on the golf lessons

Click here to watch a short video on the golf tournament

Recently an ECAR Realtor^® experienced difficulty during a closing due to the inability of the buyer to secure homeowners insurance. They were told that there was a tropical system “in the Box” and that coverage was no longer being bound. Being that it was a tropical depression well south of Cuba, this seemed a bit absurd but the company was well within its rights in denying the coverage. Many people may not know what “in the box” means so here is a little information.

Whenever there is a named storm in “the Box" the insurer will cease binding new policies. There is not a statute or rule which describes "the Box", so each insurer can use whatever geographical area it wants, so long the information is filed with the O.I.R. Each company determines its own area, so no two “boxes” are exactly the same.

The purpose of eastablishing a “box” is to prevent someone without coverage from going out and buying a policy just before the storm arrives. The policy also applies to an increase in the amount of coverage. For further information please contact Cliff Long, ECAR Government Affairs Director at 850 243-6145