June 2013 Sales License Class Only $299
It is a great time to get your Massachusetts Real Estate Salesperson License, so call us today and schedule to attend one of our 40-hour Massachusetts Salesperson Pre-License Classes! You can finish the class in only 4 days over 2 weekends or on a Tues/Thurs schedule. The cost for the Massachusetts Real Estate Salesperson Class is only $299. If you find another "Live" class, offered in the same month, for less money, on another school's website, we will match the price.
My next Salesperson Pre-License class is in Peabody at the Holiday Inn on June 1st, 2nd, 8th & 9th. This is a Sat/Sun class and runs from 8am to 7pm with breaks throughout the day and a break for lunch. This is a live class, not a video. Registration is at 7:45am on June 1st. Then I will have a Tuesday/Thursday class in Peabody at the Holiday Inn on June 11th, 13th, 25th & 27th. Registration is at 7:45am on June 11th. It's a great time to get your Real Estate License so be sure to call and reserve your seat today!
Bill Morgan Real Estate Academy is committed to providing enjoyable, high quality Mass Real Estate Classes. My Real Estate Broker, Salesperson License and Continuing Education Classes are always offered at competitive prices. My Mass Real Estate Classes are informative, entertaining and loaded with current information. If you want your Real Estate Salesperson License, Mass Real Estate Continuing Education or Mass Real Estate Broker License Class to be interesting, educational and fun, then my school is the best choice!
To view the schedules, just click on a link below.
Online Classes Continuing Education Classes
Broker and Salesperson License Class Schedule
I hope to see you in class soon and "Let's have some fun!"
Thank you very much! Bill Morgan CBR "The Hat Guy"
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New Hot News For Mass Real Estate Agents
House Bill 289 to increase to CE hours from 12 to 20
Representitive Spelitos, of Danvers has submitted House Bill 289 to raise the Continuing Education hours requirement from 12 to 20. Click on the link below to read the Bill.
CE hours to go to 20
30 Year Fixed Rate 3.43 % - 15 Year Fixed Rate 2.65%
April 13, 2013
Mortgage rates are still very attractive, with the 30-year fixed-rate mortgage averaging 3.43% and 15-year fixed rate at 2.65%. Most of the large banks have passed their stress test and home sales are up across the country. There is still a backlog of foreclosures that need to work their way through the market, however some lenders are now pre- approving property for short sale. Inventory is low and 2013 should be a great year for sales.
30-Yr. Fixed Rates still low
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Government extends the Mortgage Forgiveness Debt Relief Act
January 2, 2013
The Government has extended the Mortgage Forgiveness Debt Relief Act through the end of this year. What this means is, if you had a foreclosure or short sale and the bank had a loss, they would send you an IRS 1099 and you would have to pay income taxes on that money. With the extension of the MFDRA you do not have to pay the tax, provided the money you borrowed was used to purchase or improve a primary residence. Just thought you should know :-)
MFDRA Extended
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Important Change in Boston Smoke Detector Law
Effective August 1, 2012
The City of Boston will no longer be doing Smoke Detector inspections for the sale or transfer of any Residential dwelling unit, including single family homes, multi-unit buildings and condominiums, built after 1975. Any property built after 1975 or having 6 or more units is required to have hard wired Smoke Detectors under the Massachusetts Building Code. Any Residential property, including single family homes, condominiums or multi family of 5 units or less, built prior to 1975, will still be required to have a Smoke Detector Inspection prior to sale or transfer. All Residential units including, single family, condominuims and multi-units are still required to be inspected for the proper installation and operation of Carbon Monoxide Detectors. Please remember that this is a Boston Fire Department decision and has not been adopted by all Fire Departments. For additional information please click on the link below.
Boston Fire Department Smoke Detector Inspections
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Fannie Mae Loan Limits Go Back Up
November 14, 2011
WASHINGTON - Congress has approved a bill to raise the maximum size of mortgages the FHA can insure and sent it to the President to sign into law. The measure would push the so-called conforming loan limit in the highest-priced real estate markets back up to $729,750 through 2013, from $625,500, a sign of lawmaker concern over the still-depressed state of the housing sector. After the 2008 banking crisis of 2008, the limits, which vary from market to market, were temporarily raised when banks became reluctant to lend. They automatically dropped back on Oct. 1.
Congress Raises Loan Limits
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Foreclosure Titles Are No Good ?
October 18, 2011
By now, you should be aware, that if you bought a property from a Lender who did a faulty foreclousure, your title may be "Cloudy" or Noisey". One would think, that an action in Land Court, could quiet or fix your title. Not so fast! The Massachusetts Supreme Judicial Court ruled today in the much anticipated Bevilacqua v. Rodriguez case, that you have NO title to the property at all. Not "Cloudy" or "Noisey" title that the Land Court could repair, but in fact, it appears, NO TITLE AT ALL. You may still have the right to go back and redo the faulty foreclosure. This final edict is mix of bad and good news for owners of property whose titles have been rendered defective due to improper foreclosures stemming from the landmark U.S. Bank v. Ibanez ruling last January. The Court held that owners cannot bring a court action to clear their titles under the “try title” procedure in the Massachusetts Land Court. Left open, however, was whether owners could attempt to put their chains of title back together (like Humpty-Dumpty) and conduct new foreclosure sales to clear their titles. Unfortunately, the SJC did not provide the real estate community with any further guidance as to how best to resolve these complicated title defects.
Bevilacqua v. Rodriguez Case
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Fannie Mae Drops Conforming Loan Limit
October 1, 2011
For the first time in three years, the upper limits on single family home mortgages in high-cost areas qualifying for Fannie Mae and Freddie Mac's government guarantee has declined.The loan limits, enacted on temporary basis in July 2007, dropped from $729,750 to $625,500. The reduction in conforming loan limits reduces the size of loans that can qualify for Federal Housing Administration (FHA) guaranteed financing. The limits have expired despite a concerted effort by housing trade associations to extend it. The National Association of Home Builders has said it fears more than 17 million homes nationwide will become ineligible for more affordable federal funding when the loan limit expires. The National Association of Realtors said 5 to 10 percent of consumers will face higher mortgage rates as a result of the change. To read the full article, just click on the link below
Loan Limits Drop to $625,500
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New FTC Ruling Affects Real Estate Agents
August 19, 2011
The FTC has passed a new ruling requiring Real Estate Agents, who provide certain information about mortages to prospective buyers, to provide a written disclosure statement to customers and retain all records for 2 years. Just providing generic information about mortgages, or pre-qualifing a buyer will most likely not require any disclosure, however if you provide the consumer with specific information about a particular financing program ( ABC Bank has a 30 year fixed rate loan at X % with 2 points), take an application for financing or only provide a lender's Daily Rate Sheet, a disclosure will be required. As always, this should be discussed with your manager and maybe at your office meeting too.
Copy of the new FTC Ruling
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Massachusetts Real Estate Classes - New License Law
June 1, 2011
A new Massachusetts law, effective June 1, 2011, now requires anyone wishing to take the Mass Real Estate Classes to get their Salesperson License, to attend 40 hours of classroom instruction before they will be allowed to take the Mass Real Estate License Exam. The requirement to get the Broker License will also increase from a 30-hour class to a 40-hour class and you will be required to have three years, full time, experience as a Massachusetts Salesperson before you can take the exam for the Massachusetts Broker License. Below is the link to the new law.
