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September 25, 2007

The PGCAR office will be closed on Monday, October 8th for Columbus Day.
Have a safe and happy holiday.

 
- ALL PGCAR MEMBERS -
URGENT CALL TO ACTION
The Governor plans to include a new tax on property management services in his budget proposal to be voted on in a special November session.

Contact the Governor and your legislators NOW -
through the MAR LEGISLATIVE ACTION CENTER!

 

To the 2007-08 Board of Directors & Officers on being sworn in at
the September 20th Annual Meeting & Installation:

President: Linda Simpson
President-Elect: Ruth C. Wright
Vice President: Emerick Peace
New Directors: Desiree Callender, Pat Dowtin,
Arthur Greene and L. Chuck Ottley

These newly elected Officers & Directors will join Alease Bowles, Michael Cerrito, Don Frederick, Cassandra Lewis and Willie Rhone on the Board. We look forward to their guidance and thank them for their service to the association.

A huge thank you to our sponsors:
To SunTrust Mortgage and Weichert, REALTORS® who were Platinum Sponsors, and First Home Mortgage who sponsored the Appreciation Gifts.
To Rifkin, Livingston & Levitan for sponsoring the music, and the Women's Council of REALTORS® Prince George's Chapter for sponsoring the programs.

 
 

NAR Call for Action regarding Flood Insurance Reform
and Modernization Act of 2007, HR 3121

NAR has issued a Call for Action on this bill which will reform the National Flood Insurance Program and better protect all property owners nation-wide.

PGCAR and NAR ask for your support of this bill. To take action, click here.

Status: The House will vote on H.R. 3121 this Thursday, September 27, 2007.

What the bill does, provisions of the bill of particular interest to REALTORS®:

  • Extends the NFIP for five years (until Sept. 30, 2013)
  • Increases coverage limits to $335,000 for residential and $670,000 for commercial
  • Adds coverage for living expenses, business interruption, and basement improvements
  • Allows for the purchase of wind insurance through the NFIP
  • Provides direct funding of mitigation activities for individual repetitive loss properties
  • Extends pilot program for mitigation of severe repetitive loss properties
  • Raises the cap on annual premium increases to 15% from 10%
  • Requires notice of availability of flood insurance in RESPA GFE
  • Requires notice of availability of flood insurance to tenants
  • Requires FEMA to map the 500-year floodplain as well as update 100-year maps

For a more complete discussion, click here.

 
ONLINE DUES RENEWAL

Membership renewals have been mailed and may be paid online quick, easy, and secure with a credit card. Dues must be received no later than November 30, 2007 in order to prevent a late charge. Click here for online dues renewal!   Pay online and enjoy the convenience of receiving an itemized receipt within a few minutes via e-mail.

 
SURVEY SHOWS HOMEOWNERS UNFAZED BY MORTGAGE TROUBLES

A survey shows that 67 percent of homeowners don't think problems in the mortgage market will affect them. Many also are planning to do some remodeling.

Full story >>

 
 

RETIREES ARE HOUSE RICH, SAVINGS POOR

Retirees are staying home for now and largely not considering selling, moving down, or tapping their equity, but immature savings habits could force their hand.

Full story >>

 
 
DUAL GREEN GAIN FROM WORKING AT HOME

Telecommuting saves the amount of energy used by roughly 1 million U.S. households every year-not to mention the cost of $3-a-gallon gasoline.

Full story >>

 
 
NAR ANNUAL CONFERENCE & EXPO


Tickets on sale NOW for the Inaugural Celebration, Inspirational Breakfast, Optional Tours, and other ticketed events.

The Convention isn't all about work. You will be inspired by the latest in leadership, technology and market opportunities and be entertained. Special guests:

James Taylor     Lou Holtz     Bill Cosby     Doris Kearns

It's the 2007 Conference & Expo, and what happens here, helps you everywhere!

Click here to register now!

 
 
CONTINUING EDUCATION

Sign up for multiple classes here!
You can earn ALL of Your Continuing Education requirements for both the Maryland and DC license renewals right here at PGCAR!


This Wednesday, September 26
MD Real Estate Ethics
3 MD Required Ethics CEU; 3 DC Elective
Delores Gick 9:30 am - 12:30 pm
MD Legislative Update
3.0 MD Required Legislative Update CEU; 3.0 DC Elective
Delores Gick 1:30 pm - 4:30 pm
Creating Leverage for Your Buyer
3.0 Elective CEU, MD and DC
Matt Tove 6:00 pm - 9:00 pm

This Friday, September 28
New Agent Survival
3.0 Elective CEU, MD and DC
Stu Stern 9:30 am - 12:30 pm
REALTOR® Etiquette
1.5 Elective CEU, MD and DC
Stu Stern 1:30 pm - 3:00 pm
MD Fair Housing
1.5 MD Required Fair Housing CEU; 1.5 DC Elective
Stu Stern 3:15 pm - 4:45 pm

Friday, October 12
DC Fair Housing and Predatory Lending
3 DC Required Fair Housing CEU; no MD CEU
Prabhjit Singh 6:00 pm - 9:00 pm

Tuesday, October 16
DC License Exam Preparation
no CEU
Prabhjit Singh 6:00 pm - 9:00 pm

Friday, October 19
MD Legislative Update
3.0 MD Required Legislative Update CEU; 3.0 DC Elective CEU
Don Martin 9:30 am - 12:30 pm
MD Fair Housing
1.5 MD Required Fair Housing CEU; 1.5 DC Elective CEU
Don Martin 1:30 pm - 3:00 pm

October 2007
GRI Series 300 - SOLD OUT!
5 classes, 30 CEU
Various Instructors 8:30 am - 4:00 pm

 

Code of Ethics Case Study:
Case #6-2: Manager's Use of Client's Property for Vending Machines
REALTOR® A managed Client B's large apartment building, and made an arrangement under which coin-operated vending machines were placed in the basement of the building.

Six months after the machines were installed, Client B noticed them and raised a question as to the propriety of REALTOR® A's action in installing them, and deriving revenue from them, without Client B's knowledge and consent. REALTOR® A's response was that he had considered the machines a service to the tenants which in no way affected Client B's interests. He told Client B that he did derive a small amount of revenue from them, which had not been remitted to Client B because he felt that this revenue compensated him for his time and effort in arranging for installation of the machines and maintaining contact with the firm that operated them. He suggested that if Client B was unhappy he could seek a formal ruling by submitting the matter to the Professional Standards Committee of the Board of REALTORS®.

Accordingly, Client B did just that. At a hearing on the matter it was established that REALTOR® A had not consulted his client at the time he authorized installation of the machines; that revenue derived from operation of the machines had been retained by REALTOR® A; and that Client B had been furnished no information whatsoever in the matter until he observed the machines in his own periodic inspection of the building.

It was the conclusion of the Hearing Panel that, whether or not the presence of the machines was a service for the tenants, the giving of authority for their installation was in effect a rental of the space they occupied; and that, in the absence of any disclosure to the owner, REALTOR® A was in violation of Article 6 of the Code of Ethics.

SPOTLIGHT SPECIAL

**** CHOOSE YOUR SPECIAL ****
Sign up for the rest of the year and receive 20% OFF
— OR — Buy a Full Page and get the Internet Ad FREE for 1 Month! — OR — Buy the Front Cover and receive a full page ad inside.

BE IN THE SPOTLIGHT FOR FREE!

That's right - FREE! Write an article that would be of interest to real estate consumers and have it published in the Official Homes Section of The Prince George's County Association of REALTORS® brought to you by The Gazette. This is a special pullout FULL COLOR supplement reaching over 127,000 homes and businesses in Prince George's County.

Article Deadline Monday,
Oct. 8
  Ad Copy
Deadline
Tuesday,
Oct. 9
  Publication
Date
Thursday,
Oct. 25

If you are interested in writing an article or placing an ad, please contact
Heidi Lamere at 301-731-2134, 240-888-7509 or hlamere@gazette.net.




Prince George's County Association of REALTORS®
8400 Corporate Drive  :  Suite 225 : Landover MD 20785
Phone 301-306-7900  :  Fax 301-306-8273  :  www.pgcar.com  :  ©2006, PGCAR

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