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December 1, 2008

 
Rookie REALTOR® Society Presents:
Business Planning, with Michael Briggs
This Thursday, December 4

At La Fontaine Bleu,
7963 Annapolis Road
Lanham, MD 20706

9:30 a.m. Registration & Networking
10:00 - 12:00 noon Seminar

FREE to all Rookies, but registration is required.

RSVP HERE!

 
Next Tuesday, December 9th
12 Noon to 4 p.m.
at La Fontaine Bleu
7963 Annapolis Road
Bountiful Buffet Luncheon • Open Bar • Santa Claus
Door Prizes • Desserts • Caricaturist
DJ & Dancing • Photos • Games
All for only $25 PLUS a contribution of Food or a Coat to share
with the needy. Reduced pricing so that ALL may come.
Sponsor the Annual Holiday Gala
All sponsors will be recognized on a continuous PowerPoint presentation and signage the day of the event, on the website and in the REALTOR® Connection. All proceeds from this event will go toward feeding the needy of Prince George's County through "Share the Food".

Door prize contributions are also welcome! If interested in donating, please email Joan Ostenso to let her know what you are contributing!

 
FREE DEC 10 MEMBERSHIP MEETING: SHORT SALES with Al Monshower

SHORT SALES! What's a REALTOR® to Do?

Only one in twenty Short Sales are successful according to the NATIONAL ASSOCIATION OF REALTORS®.

This Program will address all aspects of Short Sales, including a comprehensive thirteen page Short Sale Workflow Chart and a discussion of Options, Forms, Commission Issues, Legal Requirements and Tax Consequences.

Learn about SHORT SALES from the legal expert who explains
with clarity what REALTORS® need to know.

Be there - Wednesday, December 10th, 12:30 p.m. at La Fontaine Bleu, in Lanham!

FREE for PGCAR Members - Just RSVP online >>

 
RPAC PIE BAKING CONTEST

RPAC Pie Baking Contest

Monday, December 15th
2:00 - 5:00 pm @ the PGCAR Office

Join the RPAC Committee for a fun afternoon of judging pies baked by your fellow REALTORS®. The judging will take place Monday, December 15th in the Association classroom. Bake a pie, or just come sample the delicious pies and help select the winner.

The cost is only $10 to participate as a baker or a judge. Proceeds go to RPAC.

Sign up to bake and/or attend >>

REALTOR® Political Action Committee (RPAC) Contributions
Contributions are not deductible for Federal income tax purposes. RPAC contributions are voluntary and used for political purposes. You may refuse to contribute without reprisal or otherwise affecting your membership rights. 70% of your contribution goes to your State Association to support state and local political candidates. 30% is sent to National RPAC to support Federal candidates and is charged against your limits under 2 U.S.C. 441a.

 

Join Us to Feed over 400 County Families in Need during the Holidays
Tuesday, December 16th, 7 - 11 p.m.
Lavar Arrington's SIDELINE RESTAURANT
At The Boulevard, 880 Capital Center Boulevard, Largo, MD

Business Attire / Semi-Formal · Delicious Cuisine
Live Music by The Secret Society Band · Prize Drawings · Great Networking

Each $20 Ticket Purchase Feeds a Family

Sponsorships Also Available:
Feed 25 Families with a $500 Platinum Sponsorship
Feed 15 Families with a $300 Gold Sponsorship
Feed 10 Families with a $200 Silver Sponsorship

Buy Your Tickets or Sponsorships Online at www.PGCAR.com

Please Make YOUR Reservations by this Wednesday, December 3 so we can
plan, pack and deliver the food baskets in plenty of time for the holidays!

Questions or further information?
Contact Eric Womack at 240.482.5023 or EricWomackProperties@gmail.com.

 

Volunteer to Pack or Distribute the
400 Baskets of Food

We also need lots of volunteer to help feed over 400 Prince George's County families during this Christmas Holiday. Each $20 ticket sold to the Charity Event will provide a complete box of food for a family in need. Each box will contain at minimum: A whole chicken, breakfast sausage, fish fillets, kielbasa, macaroni, stuffing mix, frozen sweet potato pie, sweet potatoes, white potatoes, onions, oranges, a 3 lb bag of apples, and vegetables.

Packing of food will take place at Share Food, 5170 Lawrence Place, Hyattsville on Thursday, December 18 - Volunteer Here >>

The food will be distributed Friday, December 19. Volunteers will meet at the PGCAR Association Offices. Volunteer to help distribute food here >>

 

 

A LEGISLATIVE VICTORY
Mike Graziano, Director of Government Affairs

 
COUNTY COUNCIL PASSES DOWN PAYMENT ASSISTANCE
as part of
NEIGHBORHOOD STABILIZATION PLAN

In July, President Bush signed into law the Housing And Economic Recovery Act of 2008 (HERA). The legislation was the center piece of Washington's efforts to address the nation's housing situation. The bill includes, among other things, an appropriation of $10.88 million for Prince George's County to use for redevelopment of abandoned and foreclosed homes. The Prince George's County Association of REALTORS® was invited by the County Executive to meet with the Department of Housing and Community Development (DHCD) to devise a plan to address the use of the funds.

On Tuesday, November 18, that collaboration culminated in the passage of the Prince George's County Neighborhood Stabilization Plan (NSP). THOUGH NOT YET IN EFFECT the plan includes:

  • Down payment and closing cost assistance for eligible buyers (less than 120% of median income) to purchase foreclosed / vacant residential properties. Certain target areas will have priority as well as workforce housing (teachers, police, fire fighters, and more). In general, loans will be in the amount of 3.5% (up to $15,000) and more for target areas and workforce housing. For more details, see the DRAFT Fact Sheet.
  • Down Payment Closing Cost Assistance Program
    DRAFT Program Fact Sheet

  • Immediate acquisition, rehabilitation and sale of approximately 10 foreclosed/vacant and severely blighted structures to eligible buyers. Through this initiative the proceeds of the sale are "recycled" to acquire more blighted structures for rehab and resale.
  • Mandated housing counseling for purchasers utilizing the NSP program.

Through this comprehensive approach (down payment assistance, acquisition, rehab and sale of severely blighted structures) the County anticipates being able to impact at least 675 households, probably more. This translates into 675 vacant, foreclosed properties off of the foreclosure record and back into the hands of caring homeowners.

The NSP is not ready for "roll out" at this time. The next step is approval by HUD. The final program guidelines are expected sometime after the first of the year. The first loans should hit the street shortly following the adoption of the guidelines, hopefully by March 2009.

PGCAR will continue its work with DHCD in developing the guidelines. We will keep the membership informed as to the progress of this endeavor. In the end it will be you, the members, that will be working to market the foreclosed properties and qualify purchasers under this program.

 
- Food for the Hungry and Coats for the Needy -
Bring your non-perishable food items and coats
to the Holiday Party or Association office by Tuesday, December 9th.
This year, more than ever before, we need to help those in need.

 
 
CONTINUING EDUCATION

DC Logo DC Education alert - Interested in expanding your market into DC? Find out all the details in advance and be well prepared for the licensing exam - Exam Preparation is offered this Wednesday. Already licensed in DC? Don't miss the Required DC Fair Housing & Predatory Lending class also offered this Wednesday. Brokers - remember that your DC licenses must be renewed by February 28, 2009. License Renewal Details here >>

DC Logo Earn your Workforce Housing Certification and be listed on the www.MDhomeprograms.com website. Just 2 days of training required - and they're offered December 12 and January 9 at PGCAR.

WHC details here >>

Register for Days 1 and 2 of WHC training here >>



This Wednesday, December 3
DC Fair Housing & Predatory Lending
3 DC Required Fair Housing CEU
Prabhjit Singh 9:30 am - 12:30 pm
DC License Exam Preparation Prabhjit Singh 1:30 pm - 4:30 pm

Next Thursday, December 11
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 Update
1.5 MD Required Fair Housing CEU;
1.5 DC Elective CEU
Don Martin 1:30 pm - 3:00 pm

Next Friday, December 12
CreditSmart
Required for Workforce Housing Certification
TBD 9:00 am - 4:00 pm

Wednesday, December 17
MD Code of Ethics
Class Just Added!
3 MD Required Ethics CEU
; 3 DC Elective CEU
Larry Hudson 6:00 pm - 9:00 pm

Thursday, December 18
Real Estate Tax Issues
1.5 MD Elective CEU; no DC CEU
Linda de Marlor 9:30 am - 11:00 am

Friday, January 9
Workforce Housing Certification
Three Classes in One Day!

Required for WHC certification
6 MD Elective CEU
TBD 9:00 am - 3:45 pm

 

Code of Ethics Case Study: #5-1:
Contemplated Interest in Property Appraised

Seller A and Buyer B were negotiating the sale of an apartment building, but couldn't agree on the price. Finally, they agreed that each would engage an appraiser and they would accept the average of the two appraisals as a fair price. Seller A engaged REALTOR® C as his appraiser, and Buyer B engaged REALTOR® D. Both REALTORS® were informed of the agreement of the principals. The two appraisal reports were submitted. The principals averaged the two valuations and made the transaction at the price determined.

Six months later, it came to the attention of Seller A that REALTOR® C was managing the building that he had appraised. Upon making further inquiries he learned that REALTOR® C for several years had managed five other buildings owned by Buyer B, and that he had been Buyer B's property manager at the time he accepted the appraisal assignment from Seller A.

At this point Seller A engaged REALTOR® E to make an appraisal of the building he had sold to Buyer B. REALTOR® E's valuation was approximately 30% higher than that arrived at six months earlier by REALTOR® C.

These facts were set out in a complaint against REALTOR® C made by Seller A to the local Board of REALTORS®. The complaint charged that since REALTOR® C was an agent of Buyer B; since he managed all of Buyer B's properties; since he had become manager of the property he had appraised for Seller A in connection with a sale to Buyer B; and since he had not disclosed his relationship to Buyer B, he had acted unethically, and in the interest of his major client had placed an excessively low valuation on the property he had appraised for Seller A.

At the hearing, Seller A also brought in a witness who stated that he had heard Buyer B say that he had made a good buy in purchasing Seller A's building because Seller A's appraiser was his (Buyer B's) property manager.

Buyer B, appearing as a witness for REALTOR® C, disputed this and protested that he had paid a fair price. He substantiated REALTOR® C's statement that management of the building formerly owned by Seller A was never discussed between them until after it had been purchased by Buyer B.

Based on your understanding of the Code of Ethics Article 5, how do you think the Professional Standards Panel ruled?

Find out here >>

 
 
Membership Renewals are Now PAST DUE!
2008-09 REALTOR® Membership Dues were due
Sunday, November 30th.

Because of the Thanksgiving Holiday, we have reset the clock. Today's late fee was not added. Annual Membership Renewal Countdown

Save loss of lockbox, MRIS discounts and other REALTOR® Membership benefits. Renewing is as easy as 1-2-3.

     1 - Click here
     2 - Log in
     3 - Renew online and receive your receipt immediately !

Thank You for Making PGCAR One of the
BEST professional associations!

 
 
HOPE AWARDS NOMINATIONS - DUE THIS FRIDAY, DECEMBER 5

HOPE Awards The HOPE (Home Ownership Participation for Everyone) Awards is a national industry awards program created to recognize individuals and organizations who have made outstanding contributions to increasing minority homeownership, revitalizing communities and expanding affordable housing opportunities.

The HOPE Awards are only conferred every other year. HOPE Awards Winners receive a $10,000 honorarium, national media coverage, paid travel expenses to attend and speak at a minority housing symposium, recognition at the HOPE Awards Gala in May 2009 in Washington, D.C., and much more.

Help further the goal of creating equality in homeownership by submitting an application for the 2009 HOPE Awards or becoming a sponsor of the HOPE Awards Gala.

 
 
 
MIT WOMEN'S TECHNOLOGY PROGRAM

Do you know any female students in 11th grade who:

  • love and excel at math and science but have very little or no prior experience in engineering
  • would like to experience hands-on activities where they design and build engineering projects
  • enjoy problem solving and collaborative learning
  • want to spend 4 summer weeks challenging their minds, working hard, and making friends with girls from around the U.S. who share their math and science interests

Please have them apply for the Women's Technology Program (WTP), a rigorous four-week academic and residential experience at MIT where female high school students explore engineering through hands-on classes, labs, and team-based projects in the summer after 11th grade.

Help spread the word about this life-changing opportunity!
Promotional PDF flyer >>

Website and Application >>
Application Deadline: January 15, 2009

 
 
PGCAR HOLIDAY HOURS

Association offices will be Closed Thursday and Friday, December 25 and 26, 2008 for Christmas and on Thursday and Friday, January 1 and 2, 2009 for the New Year Holiday.

SPOTLIGHT SPECIALS

Place your ad 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.

CHOOSE YOUR SPECIAL!!!
  1. Buy 1 Ad, Get an Ad in The Gazette of Your Choice for 15% Off
  2. Buy 2 Ads, Get the 3rd Half Price
  3. Buy 3 Ads, Get the Internet FREE for 3 Months
    - ad must be the same ad that is in the spotlight and will run for 3 months straight

Space & Ad Copy
Deadline
This Tuesday,
December 2
  Publication
Date
Thursday,
December 18

If you are interested in writing an article or placing an ad, please contact
Heidi Lamere at 240-473-7588 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  :  ©2008, PGCAR

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