That was the year that was…reflections on the year gone by
Making predictions is like playing a fun parlor game. Whatever comes from it is more often than not forgotten as soon as it is done.
Not so at ACAR.
In December 2010 we made a bunch of predictions and presented them as a look back at 2011…pretty clever right?
So…how did we do? Here’s the list of predictions we wrote last year with comments (now that we actually know how it turned out).
2011 – A Look Back at the Year of Our Return
Winding up 2011 we are compelled to reflect on key accomplishments, trends and happenings that most impacted real estate here in the Valley. Most were good, some were only OK. The bad ones we’ve already managed to forget.
Agent2Agent – This program really kicked it into high gear averaging the most attendees in the history of the program. It may have been the speakers, the topics or the fellowship…or, like some have said, “The door prizes are what drew me. Free dues is something that came in really handy.”
Agent2Agent was convened for a final time in December. It’s being replaced by a new event that emphasizes networking over speeches. The name of the new event is “MATCH” which stands for “Meet at the Clubhouse. The first MATCH will be held in February…at The Clubhouse.
Circle of Excellence – Our largest annual REALTOR® celebration event closed the final chapter on production based awards; completing our migration to recognizing REALTORS® for their contributions to the industry and our communities. Coinciding with that transition, the Metro Chamber announced their brand new “REALTORS® that Matter” campaign recognizing the contributions that we make to our neighborhoods and communities.
The 2011 Circle of Excellence was the largest event in several years with nearly 700 REALTORS® attending. Production recognition was contained to the written program and a new award was presented…The Unsung Hero Award. The 2012 Circle of Excellence event is in March.
REALTORS® Community Foundation – The Foundation reserves fell to dangerously low levels at the start of 2011; putting in jeopardy the continuation of the Foundation’s mission. In a bold stroke, the Trustees voted to invest critically low reserves into solar energy IPO offered by Treasure Valley darling Micron. In an amazing turn of events, the Stock doubled in value in the first 60 days with announcement of Defense Department contract; stock splits and Foundation nets nearly $1mil. The renewed level of member support has guaranteed the Foundation will be here for at least another 10 years.
The Foundation launched a new fundraising event called the “Get Away Giveaway” and raised almost $10,000.
REALTOR® Outreach – The Committee re-launched “1000 points of Light” campaign recognizing community partners and REALTORS® in effecting neighborhood changes. In the kick-off event, Governor Otter praised the efforts resulting from the partnership of “some of our most creative business leaders”.
ACAR members were involved in more volunteer projects that ever and stepped up to raise $6,000 to help Neighborhood Housing Services continue Paint the Town for another year.
Professional Standards – For the first time in nearly a decade, the number of member to member arbitration requests was zero as REALTORS® at last embrace the benefits of mediation for the first time. For the same period, mediation conferences were up 1000% over last year.
Ethics complaints were down in 2011. Arbitration requests were up a little. Mediations were up…although not quite 1000%.
Attempted Change to REALTOR® Code of Ethics – In what was no real surprise to those on the “inside” efforts to add a new Article 18 – referred to as the Rodney King “REALTORS®will get along with each other” command fails to pass at Conference in Anaheim. Outgoing President Ron Phipps said of the effort: “Our 104 year old Code already says that REALTORS® willing cooperate and share their knowledge. We didn’t need this ‘feel good after-thought’.”
Changes to our Code of Ethics in 2011 focused primarily on Article 3 and its requirements to cooperate with one another.
House swapping gains in popularity. As short sales continue to plague our communities, more sellers are embracing “house swapping” as portrayed in the wildly popular HGTV Reality Show “I’ll Take Yours if You Take Mine”. Some listings now include optional wife swapping; nanny swapping or “pets convey” clause. Mortgage lenders applauded the new practice saying “It’s a good way for move up buyers to offer relief to overtaxed sellers.”
Although “house swapping” didn’t really take off…house tending sure did. So did renting houses you don’t own…fortunately not in our market.
First ever Residential Real Estate Summit draws nearly 1000 people. Held in the early spring, the “Residential Real Estate Summit: What’s Next for Treasure Valley Housing” surpassed all expectations featuring a dozen leading experts. Several new initiatives have sprung frpm the information developed at the Summit. The Mayor’s Cooperative Council calls for this to become an annual event.
Our Summit drew nearly 600…not bad for the first year.
JUMP Project breaks ground – It is already apparent how much Jack’s Urban Meeting Place will change the look and feel of downtown Boise. Replacing three blighted blocks with this unique facility is tremendously exciting. The National Association of Architects and Urban Planners recognized JUMP nationally as example of urban philanthropy and awarded it their prestigious “Urby” award.
JUMP starts construction in just a few more weeks. Hooray!
Realtors elected to city councils as part of “Let’s Get Back to Business” Valley Wide Campaign. In a sweeping reform movement a dozen REALTORS® (sometime referred to as “The Apostles”) coordinated election campaigns that resulted in all of them being elected. When asked if this was a public referendum on the bureaucratic logjam that had paralyzed our Valley, ACAR Director of Public Policy said: “It was time for our business leaders to take the reins.”
Our Political Affairs Committee interviewed 23 candidates for municipal office. All but one of the candidates we supported was elected.
State Legislature adopts constitutional ban on imposition of Tax on Services. Thanks to the Idaho Association of REALTORS® the State Legislature voted to block in perpetuity the possibility of this double taxation possibility.
Stay tuned….
Mortgage Interest Deduction protected again based on strength of Home Ownership Matters national campaign. On the eve of the Congressional Summer Recess, the House and Senate acknowledged the millions of constituent comments generated through the NAR campaign and voted to leave intact mortgage interest deductibility. Speaker of the House John Boehner (R-Ohio) was clearly emotional in his praise for the effort.
We did succeed in protecting MID for one more year. The fight is not over by a long shot.
IREC moves to end CORE course requirement. Pledges to launch mandatory post license education requirements (for new licensees). IAR lauds effort as responsible government action. IREC Director of Education MiChell Bird says the move will “increase the professional abilities of all Idaho licensees.”
The conversation continues…
Young Professionals Network Idaho Chapters grant charters to increasing number of occupation based Networks; Young Professional Farmers leads in members followed by Young Professional Wait Staff and Young Professional Teachers.
YPN has continued to grow. Our own Chase Craig was recognized as one of the “Top 30 REALTORS® in the Nation Under 30” for 2011. Congratulations Chase!
Nationwide Open House week grows to 1 million homes. Fueled by pent up buyer demand, the 2011 National Open House exceeded industry expectations. “On this one weekend 90% of all active REALTORS® were introducing potential buyers to their dream homes.
We did get almost there. What a great weekend that was.
Boise Fox News Affiliate launches’ REALTOR Corner on nightly newscasts. Fox News Director said that it was “too complicated” to get a comprehensive report from a street reported that had to sandwich real estate news between crime reports and human interest stories. ‘This will position Fox as the number one news station in Boise. In a related story KTVB said they were considering a similar adjustment.
Unfortunately Channel 12 lost their Fox affiliation. Mike Turner and Jared Cozby made up for it with their weekly radio program on Boise public radio.
ACAR announces phase out of MyACAROnline website with launch of new mobile app running “Its My Thing” dynamic data widget. This is a completely interactive data portal for client management and is the first of its kind in the Pacific Northwest.
Well…maybe next year.
IMLS completes integration of Bluetooth lockboxes rendering fobs for iPhone/Droid/Blackberry unnecessary. In a “Turn in the Fob” celebration more than 1,000 REALTORS® filled a small swimming pool with the now useless devices.
We nailed this one. The swap out was completed in December!
ACAR’s Realtor Store “All My Tools.com” had a wildly successful grand opening in April. Featuring cutting edge as well as main stream business products offered in a REALTOR® friendly environment, 3/4s of the membership had visited the store by September. Nearly 50% of members voted in the “Name the Mascot” contest and choose “Orange Cat” as new store image.
Our store is open and going strong.
“Realtor Joe’s” ACAR’s new Members Only virtual office suite announces 100th deal written at one of its tables.
We didn’t reach 100 deals…but we did get to 10.
Year-to-Date Median home price increases moderately compared to last year for first time in 3 years.
We had a slow but sustained recovery for our low back in October of 2010.
YTD sales for 2011 were 8% over YTD 2010. Median price improved almost 17% from January 2011…now within 3% of 2010.
Spike in new homes sales surprises even professional forecasters. Embracing the “build to market data” approach, these new homes feature a denser living environment that takes full advantage of smart technology to draw a new corps of buyers. The percentage of new homes sales is approaching 50% of total sales.
With the lowest inventory since 2006 (expected to fall below 2,000 active listings b January 2012) the demand is bursting at the seams.
Distressed properties hold below 30% of sales/pendings and inventory. Retreating from a high of 60% in the spring of 2010 a resurgence of Federal Stimulus backed initiatives is finally helping.
Not quite below 30%…but less than 50%. A 10% improvement from the beginning of the year.
2011 membership has net gain of 1. Meet the member that reversed a three year trend in a special 2012 New Years Eve party at ACAR this Friday.
We actually increased by almost 200 members from 2010 to over 3,000.
With the season’s first significant snowfall now starting…we’re moving the New Years Eve party to McCall. See you at Brundage on Saturday!
Happy New Year!
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