tag:blogger.com,1999:blog-42820363729854540602009-12-08T04:50:34.916-07:00CE Classes / Continuing Education talk for Utah License Renewal for Realtors, Appraisers,and Mortgage Lenders.Prof. Mike @ Class Starhttp://www.blogger.com/profile/17839758327612949464mike@ClassStar.comBlogger54125tag:blogger.com,1999:blog-4282036372985454060.post-34165781319969853102009-12-06T13:46:00.005-07:002009-12-06T13:58:57.890-07:00

X Utah Real Estate Licensees ... Continuing Education - CE requirements will increase from 12 to 18 hours. Licensees will need to complete 9 hours of core education and 9 hours of general education / electives to renew a license effective January 1, 2010. If your license expires in January 2010, you may renew your license in December 2009 and instead complete the current 12 hours of

Prof. Mike @ Class Starhttp://www.blogger.com/profile/17839758327612949464mike@ClassStar.com0tag:blogger.com,1999:blog-4282036372985454060.post-28094347495356165352009-11-29T17:11:00.007-07:002009-11-29T17:44:45.340-07:00

This is a series of ideas and articles and quotations about business. My profession and my training is in business, and of late we are reading about the worst of the bunch of us - those "business" folks that take billions from taxpayers in bailout … and reward themselves with bonuses for sub-par and failing work product. Enron execs go to jail after manipulation of energy markets … taking more

Prof. Mike @ Class Starhttp://www.blogger.com/profile/17839758327612949464mike@ClassStar.com0tag:blogger.com,1999:blog-4282036372985454060.post-29789229478907694372009-11-18T15:53:00.016-07:002009-11-18T16:32:14.405-07:00

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Prof. Mike @ Class Starhttp://www.blogger.com/profile/17839758327612949464mike@ClassStar.com1tag:blogger.com,1999:blog-4282036372985454060.post-33936291232182048302009-08-28T12:52:00.020-06:002009-08-28T13:38:33.223-06:00

errrr… Aspiring Land Developer - Subdivider - Marketer? So how do we as marketers affect word-of-mouth? Here’s how I did it once: With one partner, I bought 202 acres on Bear Lake [now known as Harbor Village]. The property had been historically used as a raspberry patch. There were no structures on the property. We cut in a nice gravel road and staked out boundary corners for Raspberry

Prof. Mike @ Class Starhttp://www.blogger.com/profile/17839758327612949464mike@ClassStar.com0tag:blogger.com,1999:blog-4282036372985454060.post-87019885111402413812009-08-28T10:55:00.018-06:002009-08-28T13:39:00.914-06:00

The Promotion Element -- Why Marketers Have More Fun.We consumers are the central focus and intended recipients of someone’s message — a promotional message, e.g., advertising. As agents we hope our adverts reach a potential client. This communication effort and the strategies behind all our messages [and others we observe] are what we do as marketers to effectively communicate with our intended

Prof. Mike @ Class Starhttp://www.blogger.com/profile/17839758327612949464mike@ClassStar.com0tag:blogger.com,1999:blog-4282036372985454060.post-25755557921850013312009-07-08T12:09:00.015-06:002009-07-16T18:21:35.082-06:00

Futurist Buckminster Fuller refined, tested, and eventually received a patent on the geodesic dome; a dome dwelling that you'll probably list or sell someday. I'll cover it in a future blog. This time around I want to relate some real answers about installing solar power on our rooftops, nylons for the women that don't run, and car tires that don't wear out. Actually, it's more about finance than

Prof. Mike @ Class Starhttp://www.blogger.com/profile/17839758327612949464mike@ClassStar.com0tag:blogger.com,1999:blog-4282036372985454060.post-60407930833212626482009-06-21T08:28:00.004-06:002009-06-21T08:34:03.897-06:00

Utah Ranked No. 1 for Expected Economic Recovery by PR or News Wire 09 June 2009— In the midst of economic turmoil, federal bailouts, and budget deficits in more than 40 states, a new report from the American Legislative Exchange Council (ALEC) offers a roadmap to recovery based on economic performance trends from states over the last 10 years. The second edition of Rich States, Poor States

Prof. Mike @ Class Starhttp://www.blogger.com/profile/17839758327612949464mike@ClassStar.com0tag:blogger.com,1999:blog-4282036372985454060.post-57089498004865223472009-03-31T15:51:00.003-06:002009-03-31T15:59:45.042-06:00

First Time Home Buyer Tax Credit ...The new housing bill passed in February contains a First-Time Home Buyer Tax Credit. The credit is designed to encourage first-time home buyers to do so. Buy the home.First Time Home Buyer Tax Credit Rules:The home must be purchased as a primary residence.The Buyers must not have owned a primary residence in the last three years. For couples, both individuals

Prof. Mike @ Class Starhttp://www.blogger.com/profile/17839758327612949464mike@ClassStar.com0tag:blogger.com,1999:blog-4282036372985454060.post-56971463283702553832009-02-28T09:58:00.012-07:002009-02-28T10:29:31.892-07:00

Deed of Trust and the Other Guy, and Naked RightsWe were talking the other day and a few folks had the impression the lender was the only party involved (other than themselves) in their mortgage security, and that the nice mortgage company would send back their title when they paid off the loan.'Sort of sounds correct, doesn't it?Illustration of the borrowers and the lender ... when the mortgage

Prof. Mike @ Class Starhttp://www.blogger.com/profile/17839758327612949464mike@ClassStar.com0tag:blogger.com,1999:blog-4282036372985454060.post-53855284812003986942009-02-25T14:52:00.010-07:002009-03-01T07:18:58.907-07:00

Vertical Leases and Management Ratios'Thought I might cover a few random concepts that are of interest to me and sort of fun to re-study …. a bit more fun than reading about the economy.... Mercy...Vertical Leases. A lease doesn’t need be only on the use of the earth’s surface. We can also lease land that extends from the center of the earth skyward. Donald Trump has made some successful sky

Prof. Mike @ Class Starhttp://www.blogger.com/profile/17839758327612949464mike@ClassStar.com0tag:blogger.com,1999:blog-4282036372985454060.post-25354115972316775592009-02-10T17:24:00.001-07:002009-02-10T17:30:28.508-07:00

On January 22, 2009 the Title and Escrow Commission in conjunction with the Utah State Insurance Department invoked a new rule: Rule R592-13. Minimum Charge For Escrow Services. This new rule requires all title insurance agencies operating in the state of Utah to charge a uniform minimum fee for escrow services. The fee amount is determined by the purchase price/ loan amount of the

Prof. Mike @ Class Starhttp://www.blogger.com/profile/17839758327612949464mike@ClassStar.com0tag:blogger.com,1999:blog-4282036372985454060.post-4131835155795465822008-12-31T18:17:00.004-07:002008-12-31T18:28:23.836-07:00

Utah's New REPC Section 19.  Assignment has replaced Abrogation as the section contents.There are two concepts between the old and new REPC, Section 19 dealing with assignment and abrogation.The old REPC Section 19 was described the condition of abrogation, meaning the contract was considered "torn up" or "destroyed" after settlement and closing.  The contract doesn't mean anything and is

Prof. Mike @ Class Starhttp://www.blogger.com/profile/17839758327612949464mike@ClassStar.com0tag:blogger.com,1999:blog-4282036372985454060.post-16487650846193223052008-12-31T17:55:00.001-07:002008-12-31T17:59:46.619-07:00

Utah's New REPC Section 18.  NOTICESThe new REPC spells out how to deliver paperwork in this section. Once you're under contract, here's how to deliver paperwork, addendums, and notices which are properly written, signed, and receipted.This section also describes effective notice with new added Item C. Item C. states:  "received by the Buyer or the Seller, or their respective agent, or by the

Prof. Mike @ Class Starhttp://www.blogger.com/profile/17839758327612949464mike@ClassStar.com0tag:blogger.com,1999:blog-4282036372985454060.post-63305161534226928712008-12-31T17:35:00.002-07:002008-12-31T17:43:18.869-07:00

Utah's New REPC Section 17.  ATTORNEY FEES AND COSTS / GOVERNING LAW.This updated section clarifies that Utah law governs the contract.Old REPCSection 17.17. ATTORNEY FEES AND COSTS. In the event of litigation or binding arbitration to enforce this Contract, the prevailing party shall be entitled to costs and reasonable attorney fees. However, attorney fees shall not be awarded for participation

Prof. Mike @ Class Starhttp://www.blogger.com/profile/17839758327612949464mike@ClassStar.com0tag:blogger.com,1999:blog-4282036372985454060.post-91912626184791739332008-12-30T20:01:00.007-07:002008-12-30T20:11:43.396-07:00

Utah's New REPC Sections 11 - 16 Quick discussion, as the changes are few and minor in these sections:| 11. Final Pre-Settlement Walk-Through Inspection12. Changes During Transaction13. Authority of Signers14. Complete Contract15. Mediation16. Default These sections have only minor changes, if any.  The changes are mainly clarifying and break the text down into sections for better

Prof. Mike @ Class Starhttp://www.blogger.com/profile/17839758327612949464mike@ClassStar.com0tag:blogger.com,1999:blog-4282036372985454060.post-79951158437235123122008-12-17T21:43:00.007-07:002008-12-18T08:17:40.058-07:00

Utah's New REPC Section 10. ***********************************10. HOME WARRANTY PLAN / AS-IS CONDITION OF PROPERTY. Discussion.The form has changed a little bit, and the Seller's warranties about the condition of the property have changed a lot. Essentially the Seller is no longer personally obligated to warranty that all the systems are functioning and all features are in their proper

Prof. Mike @ Class Starhttp://www.blogger.com/profile/17839758327612949464mike@ClassStar.com0tag:blogger.com,1999:blog-4282036372985454060.post-10663909219334632352008-12-15T20:51:00.004-07:002008-12-15T21:04:03.262-07:00

REPC Section 9. Addenda Utah's New REPC Section 9. Section 9 is re-named from ADDITIONAL TERMS to ADDENDA. There is a bit of rearrangment of the list of addendum names..and the Assumption Addendum is gone. Its effect is treated elsewhere. Here is the text from both the new and old REPC Section 9: New ... 9. ADDENDA. There [ ] ARE [ ] ARE NOT addenda to the REPC containing additional terms.

Prof. Mike @ Class Starhttp://www.blogger.com/profile/17839758327612949464mike@ClassStar.com0tag:blogger.com,1999:blog-4282036372985454060.post-63652099018483995792008-12-13T04:57:00.011-07:002008-12-13T05:20:22.974-07:00

REPC Section 8. Buyer's Due Diligence New Section 8. Discussion.... All the Buyer's contingencies have been re-located to the new Section 8. These are the due diligence items, such as the right to cancel, approval of seller disclosures, tests of the property and condition of the property, appraisal condition, financing considerations and "subject-to's" of the old REPC. Additionally, the

Prof. Mike @ Class Starhttp://www.blogger.com/profile/17839758327612949464mike@ClassStar.com0tag:blogger.com,1999:blog-4282036372985454060.post-26318559532783672282008-11-30T11:20:00.008-07:002008-11-30T11:32:50.819-07:00

Utah's New REPC Section 7. Seller Disclosures This update adds a couple of sentences, plus makes an electronic version of Seller Disclosures permissible.Old REPC ----------------------------------------------------------------- : 7. SELLER DISCLOSURES. No later than the Seller Disclosure Deadline referenced in Section 24(b), Seller shall provide to Buyer the following documents which are

Prof. Mike @ Class Starhttp://www.blogger.com/profile/17839758327612949464mike@ClassStar.com0tag:blogger.com,1999:blog-4282036372985454060.post-42598964104762640882008-11-29T16:30:00.013-07:002008-11-29T17:01:59.027-07:00

Utah's New REPC Section 6. Title and Title Insurance This update provides clarification and notification of title insurance policy types. Also in this update the State has gathered up the sections on title issues and moved them all to Section 6.The Old REPC's section 10.1 has been moved to the New REPC Section 6:Old REPC ----------------------------------------------------------------- : 10.

Prof. Mike @ Class Starhttp://www.blogger.com/profile/17839758327612949464mike@ClassStar.com0tag:blogger.com,1999:blog-4282036372985454060.post-45584853108397332132008-11-23T16:59:00.013-07:002008-11-23T17:20:38.550-07:00

REPC Section 5. Confirmation of Agency Disclosure This update seems to have a streamlining and clarification effect. The initials boxes used in the old REPC are gone. The many times I've used these boxes...and also had my office manager kick the REPC back to me when they were overlooked... always seemed to be a bit of overkill.I suppose the original intent was to further draw everyone's attention

Prof. Mike @ Class Starhttp://www.blogger.com/profile/17839758327612949464mike@ClassStar.com0tag:blogger.com,1999:blog-4282036372985454060.post-54372692835374972902008-11-23T11:37:00.008-07:002008-11-23T15:34:52.264-07:00

Untitled Documen <!-- .style1 { font-family: Arial, Helvetica, sans-serif; font-size: x-small; } .style2 { color: #0000FF; font-style: italic; font-weight: bold; } .style3 { font-size: small; font-style: italic; font-weight: bold; } .style5 {font-family: Arial, Helvetica, sans-serif; font-size: x-small; font-weight: bold; } --Utah's New REPC Section 4. Possession Section 4. Possession

Prof. Mike @ Class Starhttp://www.blogger.com/profile/17839758327612949464mike@ClassStar.com0tag:blogger.com,1999:blog-4282036372985454060.post-81087082630222590812008-11-22T13:42:00.010-07:002008-11-22T14:16:41.766-07:00

Utah’s New REPC Section 3. Settlement And Closing---Section 3.1 SettlementThe Old REPC has one big paragraph entitled Settlement and Closing that deals with settlement, prorations, tenant deposits, closing, and several other items.Here's the text from Old REPC Sec. 3.0:3. SETTLEMENT AND CLOSING.Settlement shall take place on the Settlement Deadline referenced in Section 24(f), or on a date upon

Prof. Mike @ Class Starhttp://www.blogger.com/profile/17839758327612949464mike@ClassStar.com0tag:blogger.com,1999:blog-4282036372985454060.post-72449253607822852932008-11-16T19:14:00.015-07:002008-11-16T19:52:50.268-07:00

Section 2.0. Purchase Price. Section 2. Purchase Price has been streamlined and simplified, with a sometimes-misused section removed. In the new REPC, note the last sentence (a new one) of the first paragraph stating "Any amounts shown in 2(b) and 2(d) may be adjusted as deemed necessary by Buyer and the Lender." This change allows for the actual loan amounts to be adjusted in an Addendum to

Prof. Mike @ Class Starhttp://www.blogger.com/profile/17839758327612949464mike@ClassStar.com0tag:blogger.com,1999:blog-4282036372985454060.post-44785175312791631612008-11-08T14:31:00.009-07:002008-11-09T09:03:01.211-07:00

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Prof. Mike @ Class Starhttp://www.blogger.com/profile/17839758327612949464mike@ClassStar.com0