Under the terms of an agreement between NAR and CIVIX-DDI, LLC, MLSs may purchase licenses under the CIVIX patents to avoid claims of patent infringement. NAR had to obtain payment for MLS license agreements covering 275,938 subscribers for a total payment to CIVIX of at least $2.5 million. NAR reached the first milestone of the $2.5 million. All associations/MLSs applying for a patent license by June 16 will receive a license. Look for your license to arrive in the mail after July 4. Those still interested in a license can apply to be in the second group by submitting the application form, payment, and license agreement to NAR no later than July 11. Click here for more information.
Archives for 2011
Outlook Shows Markets Stabilizing
May’s Commercial Real Estate Outlook report reveals signs that commercial real estate markets are stabilizing, and job creation is boosting demand for commercial space. The economy should add between 1.5 million and 2 million jobs annually in 2011 and 2012, with the unemployment rate falling to 8 percent by the end of next year. More >
Inflation is Picking Up
Inflation is creeping up everywhere. Rather than reacting to volatile swings, however, the focus should be on a broader calculation that includes food and energy prices. NAR Chief Economist Lawrence Yun offers his analysis of the inflation picture and near-term trends. Read More >
Lease Accounting Proposal Reconsidered Again
On May 19, 2011, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) met to discuss a reworked proposal related to capitalization of leased assets. The organizations ultimately decided to revert back to an August, 2010 version of proposed lease accounting rules that would require businesses to capitalize leased assets, including real estate, onto their balance sheets. This proposal would force businesses of all sizes to claim leased property as a liability, and the resulting increase in liabilities could further stifle financing in an industry that desperately needs liquidity. Increased liabilities for lessees will likely lead to shorter-term and lower-value leases, reducing commercial building owners’ borrowing capacity. NAR will follow the issue as it unfolds, and will continue to work with FASB, IASB, and policymakers to ensure that those deciding on these rules are aware of the potential effects on business credit.
