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March 25, 2008

 
 
REALTOR® Idol Competition
and Casino Night
RPAC Annual Fundraiser
at La Fontaine Bleu
Tuesday, April 22
REALTOR® Idol Contest ~ Casino Games
Texas Hold'em Poker ~ Silent Auction

$35 RPAC Contribution = 1 Casino Night Ticket
Receive THREE Tickets for $100 RPAC Contribution!

Are You a REALTOR® Idol? Any REALTOR® or Affiliate may participate. The prize is two nights in Ocean City during the MAR Convention and two tickets to the Shark Attack Party where you will compete with the other REALTOR® Idols from across the State. Register early and pick out that music for your night under the lights!

 
CHRISTMAS IN APRIL
Join Together to Make a Lasting Difference on Saturday, April 26

Time:   8:00 AM - 5:00 PM
Location:   A Prince George's County home site

Please join us on Saturday, April 26 to help a needy Prince George's family with general home repair. If you can hold a hammer, paint brush or broom you can help. No skills required! The Community Service Committee will be putting together at least one team of workers.

Please sign up now to help their planning!

 
 
NEW FHA LIMITS ANNOUNCED

2008 NAR President Dick Gaylord's latest podcast reports that HUD has announced the new FHA loan limits, and they are higher than expected. To find the new limit for your area, visit www.fhaoutreach.com, and click on your state on the map. For additional information on how you can implement the new FHA and GSE loan limits, visit http://www.realtor.org/fha.

Dick also updates REALTORS® on NAR's efforts to raise the conforming loan limits permanently through GSE Reform legislation. And, he says NAR is working hard to elect lawmakers who support our issues.

Now, we need you to get involved in RPAC and Grassroots. Visit the REALTOR® Action Center today and come to the REALTOR® Idol Competition and Casino Night on April 22 to find out more and start getting involved.

Listen to the podcast now >>

 
 
RAISING THE LIMITS - HOUSING'S SECOND WIND...

Recent legislation has authorized a temporary increase in FHA loan limits as well as those on loans that the GSEs – such as Fannie Mae and Freddie Mac – can buy. The new FHA loan limits combined with the new GSE loan limits will go far to re-vitalize demand in today’s sagging housing market. Ken Fears looks at the impact these higher limits will likely have.

Full story >>

 

 

  REALTOR® CELEBRATION . . .
The REALTOR® Celebration on March 19 at Martin’s Crosswinds was a huge success. Over 270 Members attended the event and had a most enjoyable evening. 

Career Awards were presented to:

  • Leon Bailey of EXIT Powerhouse in Lanham
  • 2007 Rookie of the Year and the Bill Benjamin Award recipient was Willie Rhone of Weichert, REALTORS®, in Upper Marlboro
  • There were six new inductees to the PGCAR Hall of Fame: 
    • Steve Belinky of Realty Executives/2000
    • Paul College of Long & Foster in College Park
    • Ben Ekuban of RE/MAX Sails in College Park
    • Josh Harrison of GMAC Real Estate Service Center in Largo
    • Keren Kuo of Long & Foster in Silver Spring
    • Emerick Peace of Keller Williams Preferred Properties in Largo.

Congratulations to all. We also want to give a very special thank you to our sponsors:

  • Vickie Jarboe, Jarboe Title
  • Jane Williams of SunTrust Mortgage in Annapolis
  • Don Frederick of RE/MAX 100 in Camp Springs

Finally, we want to thank all those who purchased ads in our Program and all those who attended making this such a successful event.

 
 
HOME SALES ROSE, PRICES FELL IN FEBRUARY...

After falling for six straight months, sales of existing homes posted an unexpected increase in February which may have reflected more aggressive price cutting by sellers in some parts of the country, NAR reports.

Full story >>

 
 
COMMEMORATE THE 40TH ANNIVERSARY OF THE FAIR HOUSING ACT...

April is just around the corner and marks the 40th Anniversary of the 1968 Fair Housing Act, as well as Fair Housing Month. In addition to using tools to help you connect with diverse groups and create business opportunities, REALTOR® members may take the At Home with Diversity® Course Online through REALTOR® University for 50% off of the regular cost this April only.

For more information on this savings and for additional activities you can do to mark the historic 40th Anniversary visit the national website at www.realtor.org/diversity.

Please remember — The sale and purchase of a home is one of the most significant events that any person will experience in his or her lifetime. It is more that the simple purchase of housing, for it includes the hopes, dreams, aspirations, and economic destiny of those involved.

 
 
NAR ECONOMIST IS NAMED TOP FIVE FORECASTER BY USA TODAY

The National Association of REALTORS® Chief Economist Lawrence Yun has been ranked fifth among the top 10 economic forecasters by USA Today. The annual list recognizes accuracy in forecasting.

Yun was named NAR's chief economist and senior vice president of research in November 2007, and is responsible for NAR's real estate statistics and economic forecasting. He has been with the association since 2000, previously serving as vice president and senior economist. He pioneered the development of the Commercial Leading Index after helping develop the residential Pending Home Sales Index. The economists, whose identities were unknown to those gathering the data, received four scores - one for each quarterly survey - and were ranked on the average of those four scores.

Before joining NAR, Yun worked as an economic consultant to the U.S. Department of Veterans Affairs and the U.S. Department of Education. As a research associate at the University of Maryland, Yun developed the graduate economics curriculum for and taught free-market economics in the former Soviet Union as that country transitioned from communism to a free-market system. Yun received his Ph.D. in economics from the University of Maryland in 1995. He received a B.S. degree in mechanical engineering from Purdue University in 1987.

Full Article Here >>       

 
 
MORTGAGE REFORMS CLEAR MARYLAND SENATE

Mortgage lending bills aimed at addressing the state's rising foreclosure rate have been unanimously approved by the Maryland Senate and are now heading to the State House. Senators voted without debate to approve the three bills. The measures would include setting up a new crime of mortgage fraud and a bill to give homeowners more time before a foreclosure can be made final.

Full story >>

 
Rookie REALTOR® Society Presents:
What You Don't Know About Credit
Will Hurt You.

Thursday, April 10

At the PGCAR Association Office,
7963 Annapolis Road,
Landover, MD 20785

9:30 a.m. Registration & Networking
10:00 - 11:30 a.m. Seminar

FREE to all Rookies, but registration is required.

RSVP HERE!

 
 
VOLUNTEER FOR A NAR COMMITTEE

Members! The National Association is now accepting recommendations for committee service in 2009. Please recommend yourselves or other suitable candidates for up to three committee positions at the national level. We encourage you to nominate yourself, and encourage others with whom you work closely that would make good leaders.

For NAR committee leadership positions, please go to the NAR Governance: Committees section of REALTOR.org. There you will find a direct link to the Online Committee Recomendation Database, a PowerPoint Committee Leadership training presentation, and other Committee Leadership Orientation Resources.

All committee recommendations must be submitted via the Online Committee Recommendation Database on REALTOR.org. Deadline for submission is May 27, 2008.

 
LEARN MORE EARN MORE IN 2008

PGCAR is offering GRI Series 100, 200, and 300.
Sign up for all 3, and be eligible to earn your GRI this year!

 
CONTINUING EDUCATION

You can earn ALL of Your Continuing Education requirements for both the Maryland and DC license renewals right here at PGCAR -- Now that's easy!


This Wednesday, March 26
DC Fair Housing & Predatory Lending
3 DC Required Fair Housing CEU
Prabhjit Singh 6:00 pm - 9:00 pm

This Thursday, March 27
DC License Exam Preparation
No CEU
Prabhjit Singh 6:00 pm - 9:00 pm

Thursday, April 3
MD Legislative Update
3 MD Required Legislative Update, DC Elective
Don Martin 9:30 am - 12:30 pm
MD Fair Housing Update
1.5 MD Required Fair Housing, DC Elective
Don Martin 1:30 pm - 3:00 pm

Tuesday, April 8
Pre-Qualifying Home Buyers
1.5 MD Elective CEU
Kenneth Bossard 6:00 pm - 7:30 pm

Wednesday, April 9
MD Code of Ethics
3 MD Required Ethics CEU; 3 DC Elective CEU
Larry Hudson 1:30 pm - 4:30 pm

Friday, April 11
GRI Series I - FULL SERIES of 5 Classes
30 Elective CEU, MD & DC
8:30 am - 4:00 pm
GRI Series I - Module 101: Building a Real Estate Business
6 Elective CEU, MD & DC
8:30 am - 4:00 pm

Wednesday, April 16
GRI Series I - Module 102: Prospecting & Listing Techniques
6 Elective CEU, MD & DC
8:30 am - 4:00 pm

Friday, April 18
GRI Series I - Module 103: Fair Housing & Legal Update
6 Elective CEU, MD & DC
8:30 am - 4:00 pm

Wednesday, April 23
GRI Series I - Module 104: Basic Residential Financing
6 Elective CEU, MD & DC
8:30 am - 4:00 pm
Lead Base Paint Legislation
3.0 MD Required Legislative OR 3.0 MD Elective CEU
Walter Clews 6:00 pm - 9:00 pm

Thursday, April 24
GRI Series I - Module 105: Marketing Methods
6 Elective CEU, MD & DC
8:30 am - 4:00 pm

Tuesday, April 29
Photography for REALTORS®
No CEUs
Joseph Pruden 6:00 pm - 8:00 pm

Friday, July 11
GRI Series II - FULL SERIES of 5 Classes
30 Elective CEU, MD & DC
8:30 am - 4:00 pm

Friday, October 3
GRI Series III - FULL SERIES of 5 Classes
30 Elective CEU, MD & DC
8:30 am - 4:00 pm

 

Code of Ethics Case Study: Case #7-1:
Acceptance of Compensation from Buyer and Seller
Buyer A engaged REALTOR® B to locate a small commercial property. Buyer A explained his exact specifications indicating that he did not wish to compromise. They agreed that if REALTOR® B could locate such a property within Buyer A's price range, he - the buyer - would pay a finder's fee to REALTOR® B.

Two weeks later, REALTOR® B called Buyer A to advise that Seller C had just listed a property with him that met all of Buyer A's specifications except that the listed price was a bit higher than Buyer A wanted to pay. Buyer A inspected the property and liked it, but said he would adhere to his original price range. REALTOR® B called Buyer A three days later to say that Seller C had agreed to sell at Buyer A's price. The sale was made and REALTOR® B collected a commission from Seller C and a finder's fee from Buyer A which was not disclosed to Seller C, REALTOR® B's client.

Several weeks later, Seller C learned about the finder's fee that REALTOR® B had collected from Buyer A and filed a complaint with the Board of REALTOR® charging REALTOR® B with duplicity and unprofessional conduct. The complaint specified that when REALTOR® B had presented Buyer A's offer at less than the listed price, he, the seller, was reluctant to accept it, but REALTOR® B had convinced him that the offer was a fair one and not likely to be improved upon in the current market; and that REALTOR® B had dwelt at length on certain disadvantageous features of the property in an attempt to promote acceptance of the offer. The complaint charged that REALTOR® B had actually been the agent of the buyer while holding himself out as the agent of the seller. Further, Seller C asserted that REALTOR® B had never mentioned that he was representing the buyer or intended to be compensated by the buyer.

At the hearing, REALTOR® B's defense was that he had served both buyer and seller faithfully; that he had not accepted Seller C's listing until after he had agreed to assist Buyer A in locating a property; and that in his judgment the listed price was excessive and the price actually paid was a fair price.

Based on your understanding of the Code of Ethics Article 7, how do you think the Professional Standards Panel ruled?

Find out here >>

SPOTLIGHT SPECIAL

BE IN THE SPOTLIGHT FOR FREE!

That's right. Write an article that would be of interest to real estate consumers and submit it to Karey Major for a chance to be 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, April 7   Ad Copy Deadline Tuesday, April 8   Publication Date Thursday, April 24

If you are interested in writing an article or placing an ad, please contact
Karey Major at 240-473-7588 or kmajor@gazette.net.

 
 
NAR MIDYEAR LEGISLATIVE MEETINGS & TRADE EXPO...

Join in the National Association of REALTORS®'s 100th birthday celebration during the 2008 Midyear Legislative Meetings & Trade Expo. The event will be held May 12-17 in Washington, DC. And best of all, IT'S FREE!

Register now >>



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  :  ©2008, PGCAR

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