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June 15, 2009

 
Who shall be named Prince George's REALTOR® of the Year?

It could be you, or someone you know whom exemplifies leadership and service.

Submit your nominations by Midnight TONIGHT!
  1. Entries must be submitted on PGCAR's official form or using the same format.
  2. Nominees must sign the application to verify that it is accurate and complete.
  3. Nominees must be REALTOR® members who provide continuous and dedicated service to the industry to enhance the quality of the profession.

  4. Supporting information or documentation may be included as an attachment to the entry form.
  5. Pictures and supportive information are not encouraged.
  6. Entries that do not follow this format will be disqualified.
  7. ONE (1) COLOR PHOTO (any size) must be submitted in digital format, as a jpeg or .tif file, to jostenso@pgcar.com with the subject line ROTY and your name.
  8. Deadline for submissions to PGCAR, 8400 Corporate Drive, Suite 225, Landover, MD
    is Midnight TONIGHT, June 15, 2009.
    POSITIVELY NO LATE SUBMISSIONS WILL BE ACCEPTED.

One ROTY application will be submitted by PGCAR to be entered in the MAR competition. The winner of the State Award will be sent to the National Association of REALTORS® (NAR) for consideration in the national award. Could we see a Prince George's REALTOR® honored in Ocean City or San Diego this year?

Click here for the REALTOR® of the Year Award application  (   )

 
 
Young Professionals Network Mixer
  Young Professionals are the future of the real estate business. In a field where the average age is 52, younger real estate practitioners often strive for a way to connect with each other and tap into valuable resources that will help them succeed in business.

The Prince George's County Association of REALTORS® is interested in forming a Young Professionals Network as a way to help the younger generation of REALTORS® build a stronger link with the real estate industry. This network will be a member-driven organization that helps young real estate professionals excel in their careers by giving them the tools and encouragement to become involved in REALTOR® Associations, the real estate industry, and their communities. Please join us at Jasper's on June 17th to learn more and to take advantage of this opportunity to network with other young REALTORS®.

Jasper's Restaurant
6 p.m. to 9 p.m.
9650 Lottsford Road, Largo, MD
This Wednesday, June 17th, 2009

Price includes open bar and hors d'oeuvres from 6 p.m. to 7:30 p.m.
 

 
 

EARN 6 CEU AT JUNE 25 EDUCATION DAY!

 

MD Ethics
DC Ethics
MD Legislative Update
DC Fair Housing
Title Issues? Title Solutions
What a REALTOR® Should Know About Mortgages

REGISTER AT WWW.PGCAR.COM/EDUCATIONDAY.HTM >>

 
 
Aspiring to improve your management skills?
Invest in your future now.

GRI Series IV starts THURSDAY, JULY 9


Studies show if you learn more, you earn more. This is especially proven with the GRI designation. Studies show that GRI educated agents earn more.

GRI Series IV covers office and management details,
and will help prepare you for the Broker Exam.

CLICK HERE TO REGISTER FOR THE 30 CEU, 5 CLASS SERIES.
Only $85 for REALTORS® per 6 CE class, or $325 for all five classes.
All classes held at PGCAR, 8:30 a.m. - 4:00 p.m.


Each class is limited to the first 40 Registrants — Register now!
Share the Flyer!

 
 
Red Cross Blood Drive at PGCAR
Next Thursday, June 25
9 a.m. to 3 p.m.
Please donate blood and help save lives.

Family, friends and associates are ALL welcome!
Sign up in advance if you can
~ Otherwise just come on in!


 

FREE HEALTH FAIR AND HEALTH SCREENINGS
REACHING OUT TO THE COMMUNITY

WHEN: SATURDAY, JUNE 27, 2009
TIME: 10:00 a.m. - 3:00 p.m.

WHERE: 8400 CORPORATE DRIVE (parking lot)
LANDOVER, MD., 20785

GUEST SPEAKERS, LIVE ENTERTAINMENT & VENDORS

 FREE DENTAL SCREENING
 FREE 20 MINUTE WORK OUT
 FREE IRIDOLOGY ASSESSMENT
 FREE YOGA THERAPY CLASS
 FREE INFORMATION ON HOLISTIC THERAPY
 FREE NATIONAL RED CROSS (First Aid, CPR, etc.)
 FREE PG COUNTY FIRE DEPT. (Home Safety Info.)
 FREE KIDS CORNER-FIRE TRUCK TOURS
 FREE LUPUS FOUNDATION
 FREE INFORMATION - INFORMATION - INFORMATION

Diagnostic Screening; Blood Pressure, Glucose, Eye Exams,

AND MUCH - MUCH MORE!

HOSPITALS: PRINCE GEORGE'S, HOWARD UNIVERSITY, GEORGETOWN UNIVERSITY & OTHERS

COME ONE COME ALL... IT WILL BE A FUN DAY OF HEALTH
Invite family, friends, customers, neighbors, community businesses
(in DC, Prince George's and neighboring counties), and other offices.

For more information contact: William Murry - 240-737-2708 E-Mail - Wmurry@kw.com
-or- Joan Ostenso - 301-306-7900 E-Mail - jostenso@pgcar.com

Click Here for Flyer >>

Sponsored by the PRINCE GEORGE'S COUNTY ASSOCIATION of REALTORS® (PGCAR)

 
 

Are you, or someone you know, interested in serving as a member of the 2010 Prince George's County Association of REALTORS® Board of Directors? The PGCAR membership will elect:

  • a President-Elect,
  • a Secretary, and
  • four (4) Directors to serve two-year terms.

All terms begin this October 1, 2009. Any individual wishing to run for President-Elect or Secretary

  • must be a REALTOR® member in good standing of PGCAR,
  • must have held membership in PGCAR for a minimum of two years and
  • must have served two years as a Member of the Board of Directors during the last four years.

Those running for a Director position

  • must be a REALTOR® member in good standing of PGCAR,
  • must have held Membership in PGCAR for a minimum of two years and
  • must have served on a PGCAR standing or special committee for two full years or two separate standing or special committees for one full year during the last four years.

Service on the Board of Directors requires a commitment to attend Board of Directors meetings (12 per year) as well as participating in other PGCAR activities. Interested in having your name considered by the Credentials Committee for inclusion on the ballot? Please complete the Online Candidate Form TODAY  or you can print and fax a candidate form.


Printed forms may be submitted by fax at 301-306-8273 or by e-mail to info@pgcar.com.

 
Why Miss a Lead? Update your REALTOR® profile today.

The new consumer friendly pgcar.com helps home buyers and home sellers find the
experts
in Prince George's real estate. . . YOU !!

Click this graphic on the home page to visit the familiar PGCAR Member Services site!

Thanks to the huge response to updating your profiles. Still on the back burner? Click here now and log in to Members Only to edit your Membership profile.

 

 

LEGISLATIVE ALERT - June 1, 2009

 
UPDATED CONDO AND NEW "RESIDENCE IN DEFAULT" FORMS - Now in Effect

The Passage of HB 287 in the 2009 Maryland General Assembly Session Required that We Modify the Maryland Condominium Forms (Effective as of June 1, 2009)

HB 287 clarifies that a condominium's Council of Unit Owners' responsibility to repair or replace the common elements extends to condominium units, exclusive of improvements or betterments installed in units by unit owners other than the developer in the event of damage or destruction to the condominium. The condominiums' Council of Unit Owners must also maintain property insurance on the common elements and units, exclusive of improvements and betterments installed in units by unit owners other than the developer.

Additionally, the bill requires a unit owner to pay the deductible of the condominium's master insurance policy, up to the statutory limit of $5,000, if the cause of the damage originated from the owner's unit. Notice of a unit owner's responsibility for the property insurance deductible must be (1) included in a condominium sales contract (both the initial public offering statement and any resale contract); and (2) given annually in writing by the condominium's council of unit owners to each unit owner. The legislation is now effective.

The following PGCAR condominium forms have been modified:

  1. PG Form 700: Condominium Resale Notice
  2. PG Form 701: Condominium Resale Disclosure/Transmittal of Documents
  3. PG Form 703: Resale of Condominium Acknowledgement

Feel free to direct any questions regarding these changes to Colette Massengale, Esq., MAR Staff Attorney, Legal Affairs, Colette.Massengale@mdrealtor.org or 800-638-6425.

New "Statement About Tenancy" Form Also Available

The new PG Form 1107: "Rental - Statement About Tenancy" is to be used if a tenancy agreement is included in the contract of sale or transfer of a "residence in default." The law requires that the purchaser provide the homeowner with a "Statement About Tenancy" at the time the contract is executed. Section 7-301 of the Real Property Article, Annotated Code of Maryland defines a "residence in default" as residential real property that is the seller's principal place of residence, and on which the mortgage is at least 60 days in default.

 
 
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!

 
 
$8,000 TAX CREDIT NOW AVAILABLE AS FHA DOWN PAYMENT

EXTRA! EXTRA! Homebuyers across the country can now take advantage of a Federal Housing Administration program to allow qualified home buyers to apply the $8,000 tax credit when purchasing a home - - - at the time of closing or down payment.

FHA will now permit its lenders to provide a short-term bridge loan that will let qualified home buyers use the tax credit to either make a larger downpayment above the FHA required 3.5 percent, cover closing costs, or buy down their interest rate. Shaun Donovan, secretary of the Department of Housing and Urban Development, announced the formal approval on Friday, May 29. See the detailed HUD changes here.

"A true housing recovery depends on buyers returning to the market and reducing inventory," said National Association of Realtors® President Charles McMillan. "Since many of the homes available are lower priced starter homes, the ability for individuals to use the tax credit at closing should have a meaningful impact on home sales and values and will allow thousands of families to achieve the dream of homeownership."

 
General 2009 First-Time Home Buyer Tax Credit Facts

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 >>

 
 
Down Payment and Closing Cost Assistance
Neighborhood Stabilization Plan

Program Details in PGCAR.com Members Only
PowerPoint slides from the PGCAR/County "roll out" presentations are available at PGCAR.com as well as:
  • Down Payment & Closing Costs Assistance Guidelines
  • 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

NSP Sales Planning Action Items:

  • 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 June dates and times.)
  • Take the 3 CEU 203K Purchase Rehab class next Wednesday, June 10.

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

 

 

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.

 
JUNE HOMEBUYER CLASSES
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)
- - - - - - - - - - - -
Saturday, July 11, 2009 9:00 a.m. - 5:00 p.m. Parts 1 & 2 (8 Hours)
- - - - - - - - - - - -
Tuesday, July 14, 2009 5:30 p.m. - 9:30 p.m. Part 1 (4 Hours)
Thursday, July 16, 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.

 
 
CONTINUING EDUCATION

Earn YOUR GRI and All Required
MD & DC Continuing Education Hours
at PGCAR.


This Tuesday, June 16
Reverse Mortgages
1.5 MD Elective CEU
Bruce Winstead 6:00 pm - 7:30 pm

This Thursday, June 18
Building Green for REALTORS®
3 MD Elective CEU
Vimal Kapoor 9:30 am - 12:30 pm

Thursday, June 25
PGCAR EDUCATION DAY & EXPO
Up to 6 hours of
MD and DC Continuing Education
Various Instructors 8:00 am - 4:45 pm

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

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

Friday, July 17
Home Inspections & Environmental Issues
3 DC and MD Elective CEU
Vimal Kapoor 1:30 pm - 4:30 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 >>

 
 
CAREFUL BUYER FIND USEFUL IDEAS ON WEB


Washington Times, June 5 — The National Association of REALTORS says that more than 80 percent of potential homebuyers start the search for a new home on the Internet. As anyone who has spent time online knows, the Internet provides a wealth of information, but it is difficult to determine how much of that information is accurate.

This Washington Times article gives advice on using online information wisely, and taking the best advantages of both local and national real estate and financing web site. Full article >>

 

Code of Ethics Case Study: Case #17-8:
Attempted Use of Corporate Veil to Avoid Obligation to Arbitrate

REALTORS® A and B, principals in different firms, were both members of the same Board. A disagreement arose between them concerning entitlement to a commission in a real estate transaction. After initial efforts to resolve the dispute proved fruitless, REALTOR® A filed a request for arbitration with the Board which was reviewed by the Grievance Committee which concluded that an arbitrable issue existed. Instead of agreeing to arbitration through the Board, REALTOR® B filed a lawsuit against REALTOR® A. Receiving notice of the suit, REALTOR® A filed a charge with the Board alleging REALTOR® B had violated Article 17 of the Code of Ethics.

REALTOR® B, in his presentation to the Board of Directors indicated that, in his opinion, he was not subject to any ethics charge, since it was his corporation, and not REALTOR® B individually, that had filed suit against the corporation of REALTOR® A, not against REALTOR® A himself.

REALTOR® A told the Board of Directors that immediately upon occurrence of the dispute, he had suggested to REALTOR® B that the matter be arbitrated by the Board, and REALTOR® B said he would think about it. REALTOR® A then proceeded to file his request for arbitration with the Board. However, REALTOR® B did not respond to the arbitration notice and, shortly thereafter, REALTOR® A received notice of the suit filed by REALTOR® B's corporation against the corporation of REALTOR® A. He said he then called REALTOR® B and again discussed the obligation of Article 17 with him. However, REALTOR® B advised him that his corporation was not subject to the requirements of the Code and stated his intent to pursue the litigation.

REALTOR® B acknowledged that the facts as related by REALTOR® A were correct and that his corporation had filed suit upon the advice of the corporation's legal counsel. REALTOR® B said that membership in a Board of REALTORS® is individual and that personal responsibility disappears when a matter of corporate business is involved. He pointed out that he was not the only principal or officer in his corporation and that the decision to file litigation was not made by him alone, but by all of the corporate officers.

Based on your understanding of the Code of Ethics Article 17, how do you think the Professional Standards Panel ruled?

Find out here >>

 

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,
July 13
  Ad Copy
Deadline
Wednesday,
July 15
  Publication
Date
Thursday,
July 23

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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