Today's Independent Brokers meeting was standing room only.

The guest speaker's Appraisal presentation brought forward a few observations regarding: FNMA and FHA financing.- No requirements for smoke detectors and also no requirement for a closet to consider a room a bedroom. There may be code isssues but not underwriting requirements.

Discussion heated up when Alaska MLS took the floor. Last year Alaska MLS made $240,000 in profit which caused a tax liability. Some asked why the dues charged weren't lowered or waived to avoid the tax. In addition Bob Baer asked how much was MLS holding in retained earnings and the answer was $900,000.

Lots of cash in reserves to buy a new building and figures tossed around included a $350,000 down payment on new building with $200,000 potentially set aside to spruce it up.

Next weeks guest speaker, Michelle Wall Rude, new investigator for the real estate commission.