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October 6, 2008

 

. . . to the 2008 - 2009 Board of Directors & Officers who were elected then sworn in at the 75th Anniversary Celebration & Installation on Thursday, September 25th.
We also congratulate our returning Directors on a successful 2007 - 2008.

President: Linda Simpson, Weichert, REALTORS®
President-Elect: Michael Cerrito, Cerrito Realty LLC
Secretary: Willie Rhone, Weichert REALTORS®
Past President: Donald Frederick, RE/MAX 100
New Directors: Sonatta Camara, Keller Williams Preferred Properties
Joanne Darling, Darling Realty
Christopher Richardson, RE/MAX Allegiance
Anthony Williams, GMAC Real Estate / Real Estate Service Center
Returning Directors: Desiree Callender, Desiree Callender & Associates, REALTORS®
Pat Dowtin, Coldwell Banker Residential Brokerage
Arthur Greene, Long & Foster Real Estate Inc
L. Chuck Ottley, Sellstate Dominion Realty

We look forward to their guidance through 2009 and appreciate their service to the association. PGCAR Board of Directors and Committee information can always be found at www.PGCAR.com under "About PGCAR".

A huge thank you to all participants and our sponsors of the 75th Anniversary Celebration and Installation . . .

Diamond Sponsors Maryland Association of REALTORS®
National Association of REALTORS®
Gold Sponsors Old Line Bank
Toll Brothers
Silver Sponsors BB&T Mortgage
Linowes and Blocher
Rifken, Livingston, Levitan & Silver, LLC
The Peterson Companies and National Harbor
Bronze Sponsors Desiree Callender, Desiree Callender & Assoc.
Michael Cerrito, Cerrito Realty
Donald Frederick, 2007 PGCAR President

 
We celebrated in style and kicked off our next 75 years by creating some very special memories which included flashback performances of Elvis, Frank Sinatra, Fred Astaire and Ginger Rogers. We also presented our Annual Association Awards.

Congratulations to:

REALTOR® of the Year: Don Frederick
Affiliate of the Year: David Hahn, Esq., Village Settlements
Distinguished Sales Associate of the Year: Susan Pruden, Century 21
Distinguished Service Award: Joan Ostenso, Executive Vice President, PGCAR

 
ARE YOU REGISTERED TO VOTE?
To vote in the November 4th General Election in the state of Maryland you must be registered by next Tuesday, October 14th. If you're not already registered to vote in Maryland, please click here for a Maryland Voter Registration Form.

Absentee Ballot - In Maryland, the absentee ballot is the only way you can vote early. To apply for an absentee ballot in Maryland, you must affirm on oath that you "will be absent or unable to vote in person in the election."

Absentee Ballot Application Deadline: Tuesday, October 28th.
Your Board of Elections must receive your request by 4:30 pm if mailed; by 11:59 pm if faxed.

The DC voter registration deadline is TONIGHT at MIDNIGHT — Monday, October 6.
Click here for a DC Voter Registration Form >> or Register Online here >>

 
 
ATTENTION — SIX NEW OR UPDATED FORMS ARE NOW AVAILABLE

Visit PGCAR.com Members' Only
for a FULL Contract Forms Check. Now is a great time
to make sure you are up-to-date!
 
Sales Contracts & Inspection Addendum, Updated October 2008
  red arrow PG 1300: Maryland Residential Contract of Sale
  red arrow PG 1003: Maryland Unimproved Land Contract of Sale
  red arrow PG 1400: Maryland Property Inspections Addendum
 
New Contract Addendums, Added October 2008
  red arrow PG 1334: "As Is" Addendum
  red arrow PG 1335: Short Sale Addendum
  red arrow PG 1106: Lease Option to Purchase Agreement

 
 
THE SENTRILOCK SYSTEM IS COMING NOVEMBER 10

Only 1 Month Away!
The Prince George's County Association of REALTORS® will begin its conversion from SUPRA to SentriLock on Monday, November 10.

WE WOULD BE HAPPY TO COME TO YOUR OFFICE TO TALK WITH AGENTS ABOUT THE EXCHANGE.

Registration and Payment

In the next week or so, all PGCAR members will receive an email message from SENTRILOCK. This email message will contain a link that you can use to register for the conversion/exchange and instructions for paying your first year's lockbox service fee online. YOU MUST PRE-REGISTER FOR A SPECIFIC EXCHANGE/ TRAINING SESSION AND PRE-PAY YOUR LOCKBOX SERVICE FEE. IF YOU ALREADY HAVE A PGCAR SENTRILOCK CARD, YOU WILL NOT HAVE TO PAY BUT YOU STILL HAVE TO REGISTER. Walk-ins and payments will not be accepted on the day of the conversion.

By registering and pre-paying, you will receive the following benefits:

  • Move quickly through the check-in, equipment exchange, training and pick up of your new lockboxes.
  • Choose the exchange/training time that works best for you. When you register, you select the date and time that works best for you. Times are filled on a first come, first served basis. Register and pay early to get the best selection of times.
  • Equipment Availability - When you register and prepay you are ensuring that we have your new SentriCard and lockboxes prepared and available for you.
  • Equipment Exchanged - You will receive a new SentriCard to access the new lockboxes; a home card reader for updating the SentriCard; and one new REALTOR® lockbox for each Supra AEII or iBox that is registered to you and is turned in at the exchange. If you have Supra Lockboxes that are not assigned to you, please contact Shirley Clayton at the Association office at 301-306-7900. Only those obtaining a SentriCard from PGCAR, should attend the conversion.

IF YOU ARE NOT GETTING A PGCAR SENTRICARD, YOUR LOCKBOXES WILL BE EXCHANGED AT THE ASSOCIATION OFFICE BY APPOINTMENT AFTER THE CONVERSION IS COMPLETED. IF YOU ARE GETTING A PGCAR SENTRICARD AND DO NOT ATTEND THE CONVERSION, you will only receive 1 REALTOR® Lockbox for every 2 Supra lockboxes plus there will be a $100 penalty charged. Any Supra Lockboxes not exchanged by December 15th, will not be exchanged. IT IS OF UTMOST IMPORTANCE THAT YOU REGISTER FOR AND ATTEND THE CONVERSION.

You may also turn in any Multaac Boxes you have for a Sentrilock Box at a reduced price of $75 between November 17th and December 15th.

If you should have ANY QUESTIONS, please contact PGCAR at 301-306-7900 to get the answers. Please don't rely on any other sources to give you correct information. Thank you for your patience.

 
Do We Have Your Correct Contact Information?

Please update your membership records now to make sure you receive all of the latest information.

  1. Click here and log in to Members Only.
  2. Once logged in you'll see a Quick Link labeled Edit Your Membership Information on the right-hand side of page. Click this link, make any updates necessary, then click the Update button.
  3. You're Done. It's that easy. THANK YOU!

 
 
UPDATES ON FEDERAL ACTIONS IN RESPONSE TO CREDIT CRISIS

Emergency Economic Stimulus Act Signed by President

Two weekends ago, President Bush sent a proposal to Congress for emergency funding and approval to buy at-risk mortgage assets to contain the financial fall-out. This past Friday, October 3, the House of Representatives approved the Emergency Economic Stabilization Act of 2008; it was then signed into law shortly thereafter by President Bush. NAR will continue to closely monitor the Federal Government response to the credit crisis, and our Washington D.C. Policy staff will work with regulatory agencies and elected officials on Capitol Hill to assure a robust secondary mortgage market. Liquidity in the mortgage market is essential to the health of the economy.

NAR is relieved Congress could join in a bypartisan effort on this important issue and believes the EESA is an important step and will continue to work with Congress and the Administration to make sure the measures included in this bill are implemented quickly, with the needs of Main Street placed front and center.

Where's the latest and relevant news?

 

 
BANK OF AMERICA WILL MODIFY TROUBLED LOANS

Bank of America announced today that it is is launching a "home retention program" on December 1 to modify troubled mortgages for nearly 400,000 customers of Countrywide Financial Corp., acquired by Bank of America on July 1, 2008.

The program, which can reduce up to $8.4 billion in interest payments and principal, was developed to help borrowers that financed their homes with subprime loans or adjustable rate mortgages who are not able to make current payments, however, could make an adjusted mortgage which is better aligned to their income.

The centerpiece of the program is a proactive loan modification process to provide relief to borrowers who are seriously delinquent or are likely to become seriously delinquent as a result of rate resets or payment recasts. For more information, visit Bank of America's Web site.

From REALTOR® Magazine >>

 

ATTENTION MD REAL ESTATE LICENSEES!
Have You Been Licensed 10 Years or More?

As of October 2, 2008 the continuing education requirements for Maryland Real Estate Licensees are no longer dependent upon years of licensure. To renew a 2-year license, the number of hours and course content required based on type of services provided are:

ALL Residential Licensees 15 hours which must include 3.0 legislative, 1.5 fair housing, 3.0 ethics
ALL Commercial Licensees (for licensees performing exclusively commercial work, must perform NO residential business) 15 hours which must include 3.0 legislative & 3.0 ethics

 

 
CONTINUING EDUCATION

Earn ALL of your required Continuing Education hours for Maryland and DC license renewals -- and your GRI -- here at PGCAR and in relevant topics meeting TODAY'S educational needs.


This Wednesday, October 8
DC Ethics
3 DC Req. Ethics CEU; no MD CEU
Prabhjit Singh 1:30 pm - 4:30 pm

This Thursday, October 9
GRI Series III - Module 303:
Ethics & Mediation and Arbitration

6 Elective CEU, MD
8:30 am - 4:00 pm

This Friday, October 10
DC Legislative Update
3 DC Req. Legislative Update CEU; no MD CEU
Prabhjit Singh 1:30 pm - 4:30 pm

Next Thursday, October 16
GRI Series III - Module 304:
Legislative Update & Smart Growth and Land Planning

6 Elective CEU, MD
8:30 am - 4:00 pm

Next Friday, October 17
MD Code of Ethics
3 MD Req. Ethics CEU; 3 DC Elective CEU
Don Martin 9:30 am - 12:30 pm
MD Fair Housing Update
1.5 MD Req. Fair Housing CEU; 1.5 DC Elective CEU
Don Martin 1:30 am - 3:00 pm

Wednesday, October 22
GRI Series III - Module 302:
Taxes

6 Elective CEU, MD
8:30 am - 4:00 pm

Thursday, October 23
MD Legislative Update
3.0 MD Req. Legislative Update CEU; 3.0 DC Elective CEU
Don Martin 9:30 am - 12:30 pm

Friday, October 24
GRI Series III - Module 305:
Real Estate Technology & Trends

6 Elective CEU, MD
8:30 am - 4:00 pm

 
   

THE PLACE TO B. !
Marlboro Ridge Welcomes
Lifestyle Expert B. Smith
for 2 Days Only!

Saturday, October 25, 12 Noon - 5 p.m.
& Sunday, October 26, 1 p.m. - 5 p.m.
at Marlboro Ridge, 4101 Ritchie Marlboro Road.

Private REALTOR® Preview Event
on Saturday, October 25 at 10 a.m.

Restauranteur and lifestyle expert B. Smith will headline a weekend event at Marlboro Ridge, Toll Brothers' luxury planned equestrian community in Upper Marlboro, where she'll:

  • Showcase her interior designs of two quick-delivery homes
  • Unveil signature custom design packages for new to-be-built homes
Non-perishable goods and donations will be accepted for United Communities Against Poverty for this event.
Contact Toll Brothers
www.tollbrothers.com     MarlboroRidge.com

301-780-3200

 

HomeFree-USA, a HUD-approved nonprofit homeownership counseling organization,
is giving REALTORS® a chance to offer FREE homeownership classes.

 
IMPROVE CLIENT RELATIONS & RAPPORT

Treat your clients to homeownership guidance tools to get and keep their homes for life.

  • Prepare Clients to Buy the Right Way.
  • Help Clients with Mortgage Issues.
  • Be an Advocate for Homeownership Education.

Here's How To Get Your Personal Event in Motion. . .

  1. Click Here for Class Scheduling Options, choose a preferred date, and reserve that date with HFUSA by calling Christopher Gales at 301.891.8400, or e-mailing Christopherg@homefreeusa.org.
  2. Invite clients and RSVP for a minimum class of 30.
  3. Let HomeFree-USA educate your clients at your personal event by providing FREE resources to promote your event. All of this is FREE — event space, facilitator, course materials & refreshments.
  4. Your clients RSVP easily by website or by phone.
The first available class is this Wednesday, October 8!
First Come, First Served on Class Dates and Times

Read More About HomeFree-USA Here >>

 

Code of Ethics Case Study: #1-18:
REALTOR® Not Responsible for Legal Advice

Client A listed a commercial property with REALTOR® B who sold it. Following the sale, Client A learned that his total tax position would have been more favorable if he had disposed of the property in a trade. He complained to the Board of REALTORS® against REALTOR® B stating that in connection with his listing of the property he had discussed his total tax position with REALTOR® B, and that REALTOR® B, in spite of his obligation under Article 1 of the Code of Ethics to "be informed regarding laws" had failed to advise him that a trade would be more to his advantage than a sale.

At the hearing, REALTOR® B defended his actions by stating that it was true that Client A had briefly outlined his total tax situation at the time he listed the property for sale. REALTOR® B advised that he told Client A that sale of the listed property might result in unfavorable tax consequences and suggested that Client A consult an attorney. The client had not taken his advice.

After several weeks of advertising and showing the property, in the absence of a change of instructions from the client, the property was sold in accordance with the terms of the listing contract.

Based on your understanding of the Code of Ethics Article 1, 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
TODAY,
October 6
  Ad Copy
Deadline
Tuesday,
October 7
  Publication
Date
Thursday,
October 23

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

 

 
 
2009 Dues Renewals are Now Online!

Renewed for 2009? Use our fast and secure Online Dues Payment!
Paying online is easy, secure, supplies you with a receipt, and allows you to confirm your 2009 PGCAR, MAR and NAR membership renewal in your Member's Only History records.

Renew as Easy as 1-2-3:

  1. Click here
  2. Log in
  3. Renew online and receive receipt !

2009 dues are payable no later than November 30th in order to prevent late charges. To pay in installments your first payment must have already been made. Remaining installment payments will be due as follows:

$546
(includes voluntary RPAC contribution of $35)
$511
(does not include voluntary RPAC contribution of $35)
August 15 - $205 (already paid)
Sept. 15 - $114 (already paid)
Oct. 15 - $114
Nov. 15 - $113
August 15 - $205 (already paid)
Sept. 15 - $102 (already paid)
Oct. 15 - $102
Nov. 15 - $102

 
 
The PGCAR office will be closed on Monday, October 13th for Columbus Day.
Have a safe and happy holiday.

 

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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