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December 29, 2008

 
Rookie REALTOR® Society Presents:
Real Estate Tax Planning
Next Thursday, January 8, 2009

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!

 
30 UNDER 30 - Nominations Due January 12

Each year REALTOR® Magazine showcases 30 young real estate professionals who excel in innovation and leadership in the community and profession. Do you have stand-outs in your office who should be nominated? Speak out and have them or their broker submit a nomination. To our under 30 members - nominate yourselves!   Any REALTOR® member of the NATIONAL ASSOCIATION OF REALTORS® who is under age 30 as of May 31, 2009 and has not been profiled in a previous "30 Under 30" feature is eligible.

Details and online nomination form >>

 
 
A huge, heartfelt THANK YOU to all sponsors, volunteers and attendees of the December 16th Charity Event at Lavar Arrington's Sideline Restaurant. . . and to all who volunteered for the December 18th packing of food baskets at Share Food, and the December 19th distributions to over 600 very appreciative families!

What a beautiful way to say thank you to the Prince George's County community and to demonstrate the power of a caring group working as a team. YOU made a difference for six hundred families this holiday season.

THANKS TO OUR SPONSORS!
Platinum Sponsors
(Provided Holiday Meals for at least 25 Families)
Haverford Homes Safeway
Marriott Verizon Wireless
Coca-Cola Clayton Parker
GMAC Real Estate Bank of America
Exit First Realty Allstate
1st Mariner Mortgage Charter Title & Settlements
Realty World MetLife Home Loans
Sonatta Camara
Real Estate Group
Millennium Title &
Abstract Company, Inc
Gold Sponsors
(Provided Holiday Meals for at least 15 Families)
Residential Mortgage Corporation
-- D. Hungerford
C21 New Millenium
-- Tawana Langford
DDS Family Dentistry
-- Garland K Davis
BB&T
-- Michael Oleru
Suntrust Mortgage
-- Kimberly Drab & Donald Jarmer
Silver Sponsors
(Provided Holiday Meals for at least 10 Families)
CyberVillage Networkers Farone & Associates
Village Settlements, Inc.
-- David Hahn
Desiree Callender
& Associates, REALTORS®
McCoy Information Systems, Inc.
-- Ron McCoy
Allstate Insurance
-- Brian Madden
Comcast
-- Jeaneane Reynolds
Keller Williams
Preferred Properties
Express Home Buyers
-- Fernando Chavez
THANK YOU TO THE PGCAR COMMUNITY SERVICE COMMITTEE!
Linda Simpson,
PGCAR President
Joan Ostenso,
PGCAR EVP
Veera Phillips,
Committee Chair
Michael Oleru,
Assistant Chair
Jan Adams Jeff Etheridge
Lynn Frasier Arthur Greene
Janet Jackson John Johnson
Tawana Langford William Murry
Anitra Oluonye Kingston Price
Shameeka Price Phaedera Smith
Eric Womack  


 
 
 
BRAC ZONE NEAR ANDREWS APPROVED

Area will receive share of $5 million in state funding

A 665-acre area surrounding Andrews Air Force Base will receive state money to help communities keep pace with thousands of jobs coming from military reorganization.

In an announcement by Lt. Gov. Anthony Brown, the area in southern Prince George's County was confirmed as among five state zones near military bases which will receive a total of $5 million to ready schools, roads and transportation for growth from the Base Realignment and Closure process. The reorganization is slated to begin in 2010. "The $5 million can help these local areas leverage in upwards of $100 million in capital," said Brown's press secretary Mike Raia.

The 655-acre area near Andrews Air Force Base includes the Branch Avenue Metro station and commercial corridors along Auth Road, Suitland Parkway, Branch Avenue and Allentown Road. Land around the Branch Avenue Metro station along Auth Way will house commercial corridors and mixed-use properties with office space. Current plans for the area include an arts district along Allentown Way in Temple Hills and The Town Center at Camp Springs, near the Branch Avenue Metro station.

As many as 3,000 additional government employees will be relocated to Andrews Air Force Base beginning in 2010.

Full article >>

 
 
2009 ECONOMIC OUTLOOK:
Know the Market and Accentuate the Positives

To succeed in this environment, turn the tough facts about the economy to your favor by identifying your market opportunities and painting a compelling picture for your customers about why now is the time to get into the market, either as a seller or a buyer. The 30 second answer? Low mortgage rates and long-term wealth building are reasons enough for home ownership. But take time to learn more.

To help you chart your course for the year, REALTOR® Magazine has linked together NAR's 2009 forecast for the economy and housing with insight from veteran practitioners on how to leverage today's conditions for maximum sales. Full Article >>

 
 
30-YEAR MORTGAGE RATE FALLS TO RECORD LOW

Freddie Mac reported Wednesday, December 24 that average rates on 30-year fixed-rate mortgages dropped to 5.14 percent. The rate was the lowest since Freddie Mac's weekly mortgage rate survey began in April 1971 and the eighth straight week of declines. The average rate on a 15-year, fixed-rate mortgage dropped to 4.91 percent from 4.92 percent last week, Freddie Mac said.

Mortgage rates started falling after the Federal Reserve launched a sweeping new effort in late November to aid the U.S. housing market by purchasing up to $600 billion of mortgage-related securities and other debt issued by Fannie Mae, Freddie Mac and the Federal Home Loan Banks. Last week, the Fed, aiming to free up lending and jolt the economy back to life, cut its key interest rate from 1 percent to a target range of zero to 0.25 percent and pledged to keep funneling money into the market for mortgage investments.

Full Washingtonpost.com article >>
Related article from REALTOR.org >>

 

In This Issue:
Coming Soon - Every Voice Counts!
Fair Housing Corner
Community Service
Did you know that...
REALTOR® Resources
Cultural Spotlight... Paraguay

Click Here to Read the November/December 2008 Newsletter >>

 
 
PGCAR MEMBERS ONLY FORMS SECTION - 5 Updated Forms!

Five forms were updated or added in November . . . Do you have all of these forms?

 
Updated Sales Contracts & Inspection Addendum

red arrow PG 1301: Prince George's County Standard Addendum of Clauses
red arrow PG 1302: Prince George's County Disclosure and Notice Addendum (DNA)
red arrow PG 1331: Prince George's County Jurisdictional Addendum to the Regional Sales Contract
New Contract Addendums
red arrow PG 1322A: Unilateral or Mutual Termination of Contract
red arrow PG 1322B: Mutual Release of Deposit Agreement

 
It's easy to see updated and new forms! Log in to the PGCAR.com Members Only section, then click on "Revised" at the top of the forms listing. Forms which have been most recently updated will be listed at the top. You may also sort by form number or description.

ALSO -- 6 FORMS WERE UPDATED OR ADDED OCTOBER 2008.
BE SURE TO UPDATE YOUR ZIPFORMS SO THAT YOU ARE USING THE MOST UP-TO-DATE FORMS!

 
 
NEW MEMBER ORIENTATION - January session postponed

The New Member Orientation scheduled for Wednesday, January 21 has been postponed. The new date will be announced on the PGCAR calendar and in REALTOR® Connection.

 
 
CONTINUING EDUCATION

REALTORS® Required to Complete Ethics Training for Second Cycle -- Deadline December 31, 2008 - Between January 1, 2005 and December 31, 2008, every REALTOR® is required to complete 2 1/2 hours of Code of Ethics training. If you have not yet taken the online course at realtor.org, one of the 3 CEU Ethics courses offered by PGCAR, or another Ethics course known to be qualified by NAR, please take the online now at realtor.org.

As the deadline approaches, traffic volume and wait times on the online course are increasing. REALTOR.org registration, which is required to complete the online training course, is also experiencing longer wait times (approximately one hour) due to heavy traffic volume. If you plan to take the course online and are not registered on REALTOR.org, you should register for the site ahead of time if possible.



Next Friday, January 9
Workforce Housing Certification
Three Classes in One Day!
SOLD OUT!
Required for WHC certification
6 MD Elective CEU
TBD 9:00 am - 3:45 pm

Tuesday, January 13
203K Purchase Rehab SOLD OUT!
3 MD Elective CEU; 3 DC Elective CEU
Donna Hurley 9:30 am - 12:30 pm

Friday, January 16
203K Purchase Rehab SOLD OUT!
3 MD Elective CEU; 3 DC Elective CEU
Donna Hurley 1:00 pm - 4:00 pm

Thursday, January 22
Reverse Mortgages
1.5 MD Elective CEU
Bruce Winstead 9:30 am - 11:00 am

Tuesday, January 27
203K Purchase Rehab SOLD OUT!
3 MD Elective CEU; 3 DC Elective CEU
Michael Chelst 6:00 pm - 9:00 pm

Wednesday, January 28
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

Friday, February 13
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

Thursday, February 19
MD Code of Ethics
3 MD Required Ethics CEU;
3 DC Elective CEU
Don Martin 9:30 am - 12:30 pm

Wednesday, February 25
Contracts
3 MD Elective CEU;
3 DC Elective CEU
Stu Stern 9:30 am - 12:30 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 >>

 
 
Membership Renewals are Now PAST DUE!
(They were due November 30.)
Haven't renewed yet?   Your 2008-09 REALTOR® Membership Dues must be postmarked or paid online by December 31th.

Annual Membership Renewal Countdown

Save the $100 reinstatement fee and the loss of lockbox, MRIS discounts and other REALTOR® Membership benefits. Renewing online is as easy as 1-2-3.

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

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

 
 
 
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

 
 
NAR FLOAT TO BE SEEN IN TOURNAMENT OF ROSES PARADE
One of America's greatest New Year's Day traditions, the Tournament of Roses Parade is seen by one out of every four U.S. households, and in more than 150 international territories. This Thursday, January 1, viewers will enjoy a float sponsored by the NAR and the premiere of your 2009 Public Awareness Campaign commercials!

See "behind-the-scenes" video of the parade float's design, construction, and participation in the Tournament of Roses Parade >>

 
 
PGCAR HOLIDAY HOURS

We wish you and your family
a Happy New Year!

The PGCAR Office will be open until 3:00 p.m. this Wednesday, New Year's Eve,
then be closed through Thursday, January 1 and Friday, January 2 for New Year's.

We look forward to our work together in 2009: To a prosperous future!

 
 

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.

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 Association of REALTORS® - brought to you by The Gazette.

Article
Deadline
Monday,
January 12
  Ad Copy
Deadline
Wednesday,
January 14
  Publication
Date
Thursday,
January 22

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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