GMAR WEEKLY eNEWSLETTER
MORTGAGE PRE-APPROVAL VS PRE-QUALIFICATION

A common myth among consumers is that a mortgage pre-approval and a mortgage pre-qualification are one and the same. While the terms are often used interchangeably, they are two very different things.

A Pre-Qualification is only the first step and is a basic review of the consumer’s finances. When a borrower is pre-qualified, they have told their lender what their monthly income is and what their monthly debts are. A pre-qualification letter is generated stating that, based on the information given, the borrower can afford a mortgage payment for a specified loan amount. Keep in mind that the dollar amount the borrower is qualified for is often very different than what they can actually spend.

A Pre-Approval is a much more thorough process. Credit is checked and verified as is employment history. Down payment funds, current assets, bank account balances, etc. are all taken into consideration when reviewing creditworthiness. The lender will discuss the particulars of the various loan programs available to the borrower, counsel them on the pros and cons of each, and help them determine which is the best fit for their situation. 

Simply put, if a person is in the process of looking for a home to purchase, having a Pre-Approval Letter will give them an edge. In today’s real estate market, home sellers are more inclined to work with pre-approved buyers than those that are only pre-qualified. 
MAKE A DIFERENCE AND VOLUNTEER
On March 22, 2022, The GMAR, WRA, MLS, and other foundation Board Members are teaming up to help Feeding America and we need a team of volunteers to help us!

Date: March 22, 2022, 9:00am-11:30am.
Location: Feeding America Eastern WI Food Bank
1770 W Fond du Lac Avenue, Milwaukee, WI 53205


Please email volunteer applications to carter@wra.org or call 608-240-8256
Join more than 200 attendees for an up-to-the-minute discussion on major housing trends in Southeast Wisconsin and across the United States March 23, 2022, at the Italian Community Center from 9 am to 11 am. Click Here To Register
WEBINAR: VA LOAN INFORMATION PROGRAM
Provided by The GMAR’s Veteran’s Committee
 
Featured Speaker: Mark W. Lee, VA Loan Specialist

Mark is a US Marine that served 1989-1994 and was in artillery in the 1st Gulf War. Mark has been in the mortgage industry since 2001, working as a Loan Officer for different lenders and a wholesale A-paper rep for Countrywide Bank. Mark has been working with the VA for over 5 years in Loan Guaranty.
 
Tuesday, March 15th, 1:00 to 2:00 PM

DISCOUNTED PROMOTIONAL TICKETS
Missed the deadline to order VIP tickets, but still want a supply of complimentary admission tickets to provide to clients, crew, friends and family? Please use this online form to order discounted promotional tickets (cost to you of $6 per ticket - discount of $4 per ticket) for the 2022 REALTORS Home & Garden Show. Ticket orders will be available for pick-up at the GMAR Office (12300 W. Center Street, Wauwatosa, WI) or by mail for an additional fee of $5 per 100 tickets ordered (minimum $5 postage fee to mail).

SCHOLARSHIPS AVAILABLE

The Greater Milwaukee Association of REALTORS® Youth Foundation will award 7 $1,000 scholarships to children or grandchildren of GMAR members during 2022.
 
Members must have maintained their relationship with the GMAR continuously for at
least three (3) years. The deadline to apply is March 31, 2022.
 
WEBINAR: CURRENT ETHICAL ISSUES IN OUR INDUSTRY
Learn About the Current Ethical Issues Impacting the Real Estate Industry.
Wednesday, April 6, 2022
9:00AM (CST)

PANEL
  • Tracy Rucka, Attorney WRA
  • Jeff Joseph, Chairman, GMAR Professional Standards Committee
  • Scott Bush, Vice President of Operations, GMAR
  • Chris Carillio, CEO Metro MLS
 
AGENDA
9:00AM - Introductions and Overview of Forum--Scott Bush
9:10 AM - Hot Topics: Real Estate Advertising, The One Click Rule, MLS Advertising Issues, The Best of the WRA Legal Hotline
10:00 AM - Break
10:10 AM - Hot Topics Continued
10:45 AM - Procuring Cause Review
11:30 AM - Questions 
12:00 PM - Forum Ends

GMAR YOUTH FOUNDATION PAINT AND SIP
The GMAR's Youth Foundation is hosting an in-person paint and sip event with step-by-step instructions from VIBEZ Creative Art Space.
Date: Thursday, April 21, 2022, 6pm-8pm
Location: 5300 S 76th St., Greendale, WI
Cost: $40/person
*Limited to 28 participants*


Thank you to our sponsors Landmark Credit Union, Land Title Service, Milwaukee Homesight Inspection Service, Merit Title, and Scott & Sandra Bush. More sponsors are welcome if interested.

GMAR MEMBERS ONLY FACEBOOK GROUP

Join our members-only Facebook group if you have not already done so. This group was created for our members to connect with each other and discuss industry-related questions/concerns as well as to keep you informed on association news and updates. If there are any specific topics you would like to see more of please let us know!

JOB POSTINGS
Closing Coordinator/Office Manager
Lake Country Flat Fee
Client Care Specialist
Homesight Inspection
If your office is hiring for an administrative position that does not require a real estate license, we would be happy to share that information with the membership. See above for current postings.  If you have a job opening that you would like to add, please email Mary Xiong.
HABITAT RESTORE OFFERS
FREE PICKUP AND SALVAGE SERVICES
Habitat for Humanity ReStore picks up donations of gently used furniture, appliances, and more for free! Donations are tax-deductible and help local families in need of safe, affordable housing. 

ReStore's experienced Deconstruction Services will even remove kitchen cabinetry and more! 
 
FIND OUT MORE or call: 414-316-5651  
DISCOVER MILWAUKEE RELOCATION GUIDE
The GMAR is once again sponsoring the Discover Milwaukee Relocation Guide. Covering Milwaukee, Waukesha, Ozaukee, Washington, and Racine counties, it is the Greater Milwaukee region’s #1 source for anyone looking to move or relocate to Wisconsin’s largest metro area.
 
You can provide a free copy of the Relocation Guide to your relocating clients and customers and share the website and digital editions as well.

Limited quantities of the publication are available at the GMAR office, or by contacting Metro Business Publications at pcanon@discovermilwaukee.com.
 
The purpose of the Relocation Guide is to create a complete package about moving to metro Milwaukee. Information is organized in easy-to-use sections, offering new residents everything they need at their fingertips:
  • Quality of Life
  • Things To Do
  • Average home price and details for communities
  • Career Opportunities
  • Schools and Education
  • Financing a Home
  • Helpful Information
 
GMAR members also have the opportunity to highlight their experience and expertise in a special section for Relocation Specialists. For rate information, contact Maribeth Delforge at 262-796-0224, or mbdelforge@discovermilwaukee.com.
REAL ESTATE SUPPLY STORE NOW AT
MINUTEMAN PRESS - BROOKFIELD
The real estate supply store is now located ONLY at Minuteman Press - Brookfield location (13680 W. Capitol Drive). Store hours are M-F between 8:30 AM and 5 PM. Contact Minuteman Press-Brookfield for more info, (262) 781-9622!
Comments, Suggestions, or Questions?...
Let us know how the GMAR can improve what we offer to you as members of our organization. Your feedback helps us to make quality improvements to our programs and benefits, so we appreciate it! Click here to e-mail feedback to the GMAR.
Greater Milwaukee Association of REALTORS®
12300 W. Center Street Milwaukee, WI 53222
414-778-4929 | www.GMAR.com