Printable Version      Email to a Friend

Back to REALTOR® Connection Archive

May 4, 2009

 
 
Rookie REALTOR® Society Presents:
REALTOR® Safety
This Thursday, May 7, 2009
At La Fontaine Bleu,
7963 Annapolis Road
Lanham, MD 20706

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

FREE Session — Priceless Knowledge
Protect Your Safety ~ RSVP HERE!

How often do you think about your safety on the job?
Do you practice good safety at home and on the road?
You can't afford not to! Do your family and friends a favor.
Learn . . . and practice good safety tips.

The Rookie REALTOR® Society is FREE and open to all PGCAR REALTOR® members who have been licensed for 4 years or less. Come join us! Network and learn from each other, and hear priceless lessons from industry pros who have "been there, done that" . . . for FREE, on the first Thursday of each month.

 
 
HOW COUNTY & STATE GOVERNMENT ARE AFFECTING REAL ESTATE

This Thursday, May 7, 2009
Serving a MEXICAN BUFFET

Presented by WCR ~ Hosted at PGCAR
Speakers: Real Estate Industry Legislative Experts Bill Castelli and Mike Graziano

Only $10 WCR Members or $15 Non-Members
Please RSVP to Toni Jarboe-Duley, 301-440-6096 or Lois Hall, 301-509-0631.

Click here for flyer >>

 
 
NAR MIDYEAR LEGISLATIVE MEETINGS & TRADE EXPO...

Join us to take an active role in advancing the industry, public policy agenda and Association during the 2009 Midyear Legislative Meetings & Trade Expo. The event will be held May 11-16 in Washington, DC. And best of all, IT'S FREE!

Compelled by the insistent fact that housing has always led this nation out of economic troubles, NAR is hosting the "Real Estate Summit: Advancing the U.S. Economy" on Tuesday, May 12 during the Midyear Legislative Meetings & Trade Expo in Washington, DC. The Summit opens with a contrast in views from conservative commentator Pat Buchanan and former U.S. Rep. Harold Ford (D-Tenn.). Both will address the causes of the present crisis and will offer opinions on how to move forward.

Following, an all-star panel of experts will address challenges and solutions in "Reshaping Real Estate to Sustain Communities." The panel draws upon distinguished participants from academia, economics, the real estate industry, and government, and will be moderated by Ron Insana, CNBC, senior analyst and financial industry expert.

Read more >>

Don't miss this powerful meeting of minds.
Register Now - FREE for REALTOR ® Members >>


 
 
MAR COMMITTEES - CALL FOR VOLUNTEERS
The Maryland Association of REALTORS® is looking for volunteers to serve on MAR committees for the 2009-2010 committee year. Sign up at www.mdrealtor.org.

REMINDER: Current MAR committee members must complete a new volunteer form if they wish to continue serving for a 2009-1010 term.

DEADLINE: Wednesday, May 13, 2009

 
 
BY POPULAR DEMAND -- SHORT SALES WITH AL MONSHOWER

Returns to La Fontaine Bleu
Next Thursday, May 14
1:00 - 4:00 p.m.

3 MD Elective CEU

Register Here >>

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

 
 
RPAC IDOL CONTEST and FUNDRAISER
THANK YOU SPONSORS AND PARTICIPANTS!

This April 21st, La Fontaine Bleu was the scene of the Prince George's RPAC Idol contest and RPAC Fundraiser.

Our RPAC Idol winner, who will represent Prince George's in Ocean City, is Kristin Lagana who sang "Proud Mary" and "Piece of My Heart."

Runner-up is Pearl Murphy who sang "Songs We Live and Love By," a medley of love songs. Other contestants were Carol "C.A." Scibelli-May who sang "Crazy," "Mustang Sally" was performed by John Michael , and Iva Jean Ambush sang "At Last." Idol judges were Lynn Gardner, JoAnne Poole, and Nick D'Ambrosia. The entertainment was outstanding!!! Too bad all 5 PGCAR contestants can't go to states. They would rock and sway that house too!!

Texas Hold 'em winners were:
1st place - George E. Mitchell
2nd place - Angela McGhee
3rd place - Doug Constable

In addition to the RPAC Idol and Texas Hold 'em contests, the crowd also enjoyed
talking with some of their legislators and dancing to the DJ's music.

A special thank you to our sponsors.
Their contributions to the PGCAR community and making such a successful,
enjoyable evening possible are much appreciated!

Grand Sponsor - CSS Title, Lynn Gardner
RPAC Idol Prize - RE/MAX United
DJ - First Home Mortgage, Joe Procopio
Ham & Turkey Station - Home First Title Group
Texas Hold 'em - REALTOR® John Lesniewski, RE/MAX United

Other sponsors were:
HMS Warranty - Jim Hoopes
Home & Land Magazine of Prince George's County - Kasha Boamysoad
Michael Oleru - BB&T Mortgage
Midgett Parker, Esq. - Linowes & Blocher
REALTOR® Susan Pruden - Century 21 Home Center

 
 
Down Payment and Closing Cost Assistance
Neighborhood Stabilization Plan

Program Details Now in PGCAR.com Members Only
About 500 members attended the NSP "roll out" briefings last week. THANK YOU FOR STAYING INFORMED ON THIS PROGRAM! PowerPoint slides from those presentations (and just updated today, May 4) are now available at PGCAR.com as well as:
  • Down Payment & Closing Costs Assistance Guidelines - Just updated today, May 4
  • Loan Application Checklist
  • Required Forms and Paperwork
  • Who Qualifies, including Qualifying Income Limits for Homebuyers
  • What Properties Qualify
  • Participating Lenders List with Contact Information
  • NSP DPCCA Loan Amounts

There is over $9 million dedicated to down payment and closing cost assistance through this program. It is estimated that this will translate into over 700 loans.

Prepare yourself and your clients to be ready for this opportunity.
LOGIN TO PGCAR.COM MEMBERS ONLY TODAY!

 

 
Find a REALTOR® in Prince George's County, Maryland
Very soon, even MORE eyes will be on www.PGCAR.com. Since PGCAR staff, Directors, and other volunteers have worked so well and contributed so much to the winning and roll out of stimulus dollars for home buyers in Prince George's County, there is already favorable press coming YOUR way, and there will soon be more. 1) PGCAR is hosting approved FHA/HUD housing counseling classes through this year. That is already introducing home buyers to the resources available to Prince George's County REALTORS®. 2) County resources will be highlighting that Prince George's REALTORS® can be found at www.PGCAR.com, trained and available to help home buyers find a home and guide them in qualifying for NSP down payment and closing cost assistance. 3) As always, www.PGCAR.com will remain "search engine friendly" so that the Find a REALTOR® Directory and other helpful tools can be found on google and other search engines. Online search engines are where most prospective home buyers begin their home search. 4) With the roll out of the Neighborhood Stabilization Plan, PGCAR will be rapidly adding more consumer friendly tools to our website.

We've already made some changes!
Please login to Members Only and Update your profile so that consumers can find and contact you when searching for a home in Prince George's County.

  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, then make the following updates as needed.
    • Is your email address correct?
    • Are you FLUENT in any foreign languages, or in American Sign Language? Please check the appropriate boxes if FLUENT.
    • Have you earned any designations? Warning: you must have completely earned the designation and be current in all designation and/or membership requirements in order to advertise a designation.
    • What specialties do you actively PRACTICE in? The choices are: Residential / Home Sales, Commercial Sales, Land Sales, Property Management, Rentals. Please log in and select one today. As of this Thursday, you may login again to update your profile to select additional specialties; e.g., if you ACTIVELY perform both commercial and land sales.
    • Do you list your website, so that consumers can click-through and find out more about you?
    • Have you uploaded a current photograph of yourself? If so, it will be on your REALTOR® Directory profile.
  3. Click the Update Button and You're Done. It's that easy. THANK YOU!

 

 

LEGISLATIVE ALERT - May 4, 2009
Mike Graziano, Director of Government Affairs

 
DOWN PAYMENT AND CLOSING COST ASSISTANCE UPDATE
Can $15,000 or more in closing assistance
help YOU place a buyer into a home?

Neighborhood Stabilization Plan funds will be available soon, most likely by May 15. The County's Department of Housing and Community Development (DHCD) has been rapidly finalizing the program guidelines, signing up participating lenders, and planning their advertising to the public.

Target Zip Codes Are. . .

The prospective property must be a vacant foreclosed upon property located within one of the listed (33) zip codes. The property must be a residential unit (single family, townhome, condominium) that the applicant will occupy.

20607
20608
20613
20623
20705
20706*
20707
20708*
20710
20712
20715
20716*
20720
20721
20722
20735
20737
20740
20743*
20744*
20745
20746*
20747*
20748*
20769
20770
20772*
20774*
20781
20782
20783*
20784
20785*
*Target zip codes, where closing cost assistance will be even higher, are highlighted.

Preliminary Details:

  • Projected start date is May 15, 2009. Application packages will not be accepted prior to May 15th. However, housing counseling training can be accomplished now.
  • Applicant must be a first time home buyer, defined as "not owning a home within last three years". A co-signer that OWNS A HOME will disqualify the applicant.
  • DHCD will require a specific NSP application, a special contract addendum, and seller/borrower affidavits. (Prelim forms are in Members Only)
  • Participating Lenders must be FHA/CDA approved. Participating Lenders are required to attend training and execute a lenders agreement.
  • The lender will accept and complete the down payment assistance (DPA) loan applications and underwrite and qualify the first mortgage and pre-qualify the NSP DPA loan simultaneously.
  • Purchaser's total household income must not exceed NSP income limits as verified by lender.
  • Prospective property subject to FHA inspection or use a rehabilitation loan such as FHA 203K.
  • Contract price must reflect a 15% discount from an appraisal dated within 60 days of contract date.
  • Seller must pay a certain amount of closing cost assistance which will be stipulated in final program guidelines. (Prelim guidelines are in Members Only)
  • Applicants must attend 8 hours of HUD approved financial counseling classes.

Down Payment and Closing Cost Assistance Program
Presentation, Guidelines, Forms, Lender List and More

As we wait for the final "roll out" of the NSP there are a number of things that members can do to prepare:

  • Search MRIS and create an inventory of foreclosed properties
  • Login to PGCAR.com Members Only for program documentation, guidelines, required forms and other helpful details.
  • While in Members Only, update your Member profile to help consumers find you.
  • Pre-Qualify buyers under the parameters of the income limits.
  • Encourage your buyers to attend 8 hour HUD approved housing counseling and financial literacy classes prior to NSP application. (See following article with class dates and times.)

There is over $7 million dedicated to down payment and closing cost assistance and the state has indicated that they will contribute additional funding. It is estimated that this will translate into over 700 loans. Prepare yourself and your clients to be ready for this opportunity. PGCAR will continue to keep members informed on this issue.

 

 

PREPARE YOUR CUSTOMERS FOR DOWN PAYMENT
AND CLOSING COST ASSISTANCE

 
- HOMEBUYER EDUCATION CLASSES -

Homebuyers wishing to take advantage of Neighborhood Stabilization Plan (NSP) funds are required to complete eight hours of FHA/HUD approved housing counseling. PGCAR has partnered with a HUD certified housing counseling agency to offer FREE classes for your customers. The classes are designed for the home buying public. After completion of the required eight hour course attendees will be provided with the documentation necessary to qualify them for NSP down payment assistance. All classes will be held at the PGCAR offices.

 
MAY AND JUNE HOMEBUYER CLASSES
Tuesday, May 5, 2009 5:30 p.m. - 9:30 p.m. Part 1 (4 Hours)
Thursday, May 7, 2009 5:30 p.m. - 9:30 p.m. Part 2 (4 Hours)
- - - - - - - - - - - -
Saturday, May 9, 2009 9:00 a.m. - 5:00 p.m. Parts 1 & 2 (8 Hours)
- - - - - - - - - - - -
Monday, May 18, 2009 5:30 p.m. - 9:30 p.m. Part 1 (4 Hours)
Wednesday, May 20, 2009 5:30 p.m. - 9:30 p.m. Part 2 (4 Hours)
Tuesday, June 2, 2009 5:30 p.m. - 9:30 p.m. Part 1 (4 Hours)
Thursday, June 4, 2009 5:30 p.m. - 9:30 p.m. Part 2 (4 Hours)
- - - - - - - - - - - -
Saturday, June 13, 2009 9:00 a.m. - 5:00 p.m. Parts 1 & 2 (8 Hours)
- - - - - - - - - - - -
Monday, June 22, 2009 5:30 p.m. - 9:30 p.m. Part 1 (4 Hours)
Wednesday, June 24, 2009 5:30 p.m. - 9:30 p.m. Part 2 (4 Hours)

See the entire class listing in the PGCAR.com Newsroom or Events Schedule >>
Call 301-567-3330 to register your customers.

 
 
SALES CONTRACT, REQUIRED ADDENDA, OTHER FORM QUESTIONS?

Members!
Please click here to

  1. Login to Members Only,
  2. Click on the Form Feedback graphic, and
  3. Ask your questions on form intent or content - and to provide suggestions, changes or general feedback about PGCAR standardized forms.

Questions?
They can be answered. Sometimes a form Q & A will be reviewed by legal counsel before being answered, so please expect a few days for a full response, but it really is that easy to get your questions answered. We also appreciate feedback and suggestions. Thanks for your attention!

 
 
CONTINUING EDUCATION

Earn All Required
MD and DC Continuing Education Hours
During May at PGCAR.

DC LICENSE RENEWAL REMINDER - DC Salesperson license renewals are due August 31, 2009. Don't wait until the last minute to meet required CEU requirements. ALL REQUIRED DC CEU HOURS are offered at PGCAR. Earn up to 6 required hours in one day -- in DC Legislative Update and DC Ethics this Friday, May 8 >>


This Friday, May 8
DC Legislative Update
DC Required Legislative Update CEU
Prabhjit Singh 9:30 am - 12:30 pm
DC Ethics
3 DC Required Ethics CEU
Prabhjit Singh 1:30 pm - 4:30 pm

Next Tuesday, May 12
Reverse Mortgages
1.5 MD Elective CEU
Bruce Winstead 6:00 pm - 7:30 pm

Next Thursday, May 14
Short Sales
3 MD Elective CEU
Al Monshower 1:00 pm - 4:00 pm

Thursday, May 21
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

Friday, May 22
MD Code of Ethics
3 MD Required Ethics CEU;
3 DC Elective CEU
Don Martin 9:30 am - 12:30 pm

Starting Thursday, July 9
GRI Series IV
- Full Series of 5 Classes Begins

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

Starting Wednesday, October 7
GRI Series I
- Full Series of 5 Classes Begins

30 MD CEU - covering 1.5 hrs Fair Housing,
3 hrs Ethics, and 25.5 hrs Elective CE
8:30 am - 4:00 pm

Full CEU Schedule >>

 
 
PGCAR AFFILIATES - AFFORDABLE ADVERTISING
Which website had between 27,500 and 37,000 visitors PER MONTH over the last year?
www.PGCAR.com!

And now you may advertise your company on the PGCAR.com website.
Please click here for advertising details and contract >>

Advertising is not for real estate companies or agents
- it is for those who offer services of benefit to our real estate members and other website guests.

 

Code of Ethics Case Study: Case #15-2:
Intentional Misrepresentation of a Competitor's Business Practice

Following a round of golf early one morning, Homeowner A approached REALTOR® X. "We've outgrown our home and I want to list it with you," said Homeowner A. "I'm sorry," said REALTOR® X, "but I represent buyers exclusively." "Then how about REALTOR® Z?" asked Homeowner A, "I've heard good things about him." "I don't know if I would do that," said REALTOR® X, "while he does represent sellers, he doesn't cooperate with buyer brokers and, as a result, sellers don't get adequate market exposure for their properties."

Later that day, Homeowner A repeated REALTOR® X's remarks to his wife who happened to be a close friend of REALTOR® Z's wife. Within hours, REALTOR® Z had been made aware of REALTOR® X's remarks to Homeowner A earlier in the day. REALTOR® Z filed a complaint against REALTOR® X charging him with making false and misleading statements. REALTOR® Z's complaint was considered by the Grievance Committee, which determined that an ethics hearing should be held.

At the hearing REALTOR® Z stated, "I have no idea what REALTOR® X was thinking about when he made his comments to Homeowner A. I always cooperate with other REALTORS®." REALTOR® X replied, "That's not so. Last year you had a listing in the Multiple Listing Service and when I called to make an appointment to show the property to the buyer, you refused to agree to pay me." REALTOR® Z responded that he had made a formal offer of subagency through the MLS with respect to that property but had chosen not to offer compensation to buyer agents through the MLS. He noted, however, that the fact that he had not made a blanket offer of compensation to buyer agents should not be construed as a refusal to cooperate and that he had, in fact, cooperated with REALTOR® X in the sale of that very property.

In response to REALTOR® Z's questions, REALTOR® X acknowledged that he had shown his buyer-client REALTOR® Z's listing and that the buyer had purchased the property. Moreover, REALTOR® X said, upon questioning by the panel members, he had no personal knowledge of any instance in which REALTOR® Z had refused to cooperate with any other broker but had simply assumed that REALTOR® Z's refusal to pay the compensation REALTOR® X had asked for was representative of a general practice on the part of REALTOR® Z.

You Be the Judge

Based on your understanding of the Code of Ethics Article 15, how do you think the Professional Standards Panel ruled?

Find out here >>

 
 
2009 First-Time Home Buyer Tax Credit

Did you know that the maximum $8,000 First-Time Home Buyer Tax Credit may be received by single buyers with incomes up to $75,000 and married couples with incomes up to $150,000?

Discover all of the details at REALTOR.org >>
IRS Form 5405: First-Time Homebuyer Credit >>
IRS Guidelines >>

 
HELP WIN $10,000 FOR THE PRINCE GEORGE'S COMMUNITY

PGCAR members do so much to help others. Help us share this good news and we could win a donation from MAR of $1,000, $5,000 or $10,000 to the charities of our choice!

Do you volunteer for your church, collect money or toys for "Toys for Tots," raise or make donations to charitable organizations, drive for Meals on Wheels, donate time at your child's school or Scouts? However you volunteer and give back to the community, we'd like to hear about it! Please complete the online form in the PGCAR.com Community Service section.

Let's win that C.A.R.E. award for the Prince George's community at the 2009 MAR Convention. With your help we can do that. The deadline is May 29th. We know many of you participate in multiple community events, so please submit as early as possible and with photos and testimonials when available.    Online Form >>

 

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)

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,
Monday, May 11
  Ad Copy
Deadline
Wednesday,
May 13
  Publication
Date
Thursday,
May 21

If you are interested in writing an article or placing an ad, please contact
Heidi Lamere at 240-473-7588 or hlamere@gazette.net.

 
 
Volunteer Part of a Saturday
and Help our Service Men and Women
The USO is looking for volunteers to help pack boxes that are going out to our service men and women who are deployed overseas.

Volunteers will gather on June 13th at Ft. Belvoir, 9 a.m. to 3 p.m., to help prepare the packages. Contributions of $25 are also welcomed and will pay for the cost of one box containing supplies worth over $75.

Click here to Volunteer >>

 
 
VOLUNTEER FOR A NAR COMMITTEE

Members! The National Association is now accepting recommendations for committee service in 2010. 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 whom would also 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 Recommendation Database and details of the 2010 NAR Committees.

All committee recommendations must be submitted at REALTOR.org.
Deadline for submission is May 26, 2009.


 

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

Back to REALTOR® Connection Archive