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July 27, 2009

 
Please Join Us this Wednesday, July 29
6 to 10 p.m.

FOR A GREAT TIME AND CAUSE!
Enjoy a Live Auction, Dinner and Drinks in the PGCAR Atrium

at 8400 Corporate Drive, Landover, MD
All items sold to the highest bidder - cash, check or charge

Auctioneer - Chris Richardson

Only $10.00!
(Payable at the door)

Have an Item to Auction?
A Favorite Dish to Bring and Share?
Please let us know!

Click here to Pre-Register or Donate >>

Questions? Contact Rose Marie Jung at 301-318-4655
or Marianne Bossier at 301-449-9100.

 
 
COMMITTEE

VOLUNTEERS

NEEDED

Interested in expanding your leadership role within the Association and Community?
Volunteering to learn new skills and meet new people?
Applying your special talents to improve PGCAR and help others?

There's something for everyone!

Awards
Commercial
Community Service
Cultural Diversity
Education
Forms
Grievance
Holiday Party
Housing Affordability
Legislative / Political Affairs
Membership
Professional Standards
Property Management
Public Relations / Communications
RPAC
Scholarship Fund

Check out our committee descriptions at pgcar.com >>
Apply for a committee position here >>

 
RPAC Fundraiser
NIGHT OF FUN!
1st Annual Bid Whist Tournament & Fun Night
August 6, 2009 - 7:15 p.m. (SHARP)

In the PGCAR Atrium, 8400 Corporate Drive, Landover

You say you are the best Bid Whist player around.....
now come out and prove it!!!

Trophies will be awarded for FIRST and SECOND place winners. Other prizes for winners up to FIFTH place for Bid Whist. Special prize for the team that runs the most Boston's.

There will be a BEGINNER'S TABLE and other card games available...Spades, bridge and even pitty pat. We supply the cards and you bring the FUN.

Beverages and food available for a small donation.

Only $10 to participate / $ 2 for non-players.

Register today at pgcar.com!

Click here for flyer >>

 
 
APPLY FOR ANNUAL LEADERSHIP ACADEMY THIS WEEK

LAST CHANCE!

Through this Saturday only, the Maryland Association of REALTORS® is accepting applications for its outstanding Leadership Academy.

Don't miss this valuable opportunity to learn and grow in your professional and personal development. It won't come again until a full year from now. For more on the mission and goals of the Leadership Academy, Click Here.

Leadership Academy Applications Are Due This Saturday, August 1
Click here for the application!

 
 
THE DREAM OF HOMEOWNERSHIP
IS NOW MORE AFFORDABLE
Neighborhood Stabilization Plan Down Payment Assistance,
8K Tax Credit . . . and More!
A Down Payment on Your Dream printable marketing brochure for potential home buyers as well as all required forms and details are available at PGCAR.com Members Only:
  • REALTORS® Guidance and Instructions
  • Down Payment & Closing Costs Assistance Guidelines
  • Loan Application Checklist
  • Required Forms and Paperwork
    • NSP Contract Addendum and Notice to Seller
    • Buyer's Affidavit
    • Seller's Affidavit
  • 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:

Help your clients take advantage of this great opportunity.
LOGIN TO PGCAR.COM MEMBERS ONLY TODAY!

 
$8,000 TAX CREDIT EXPIRES DECEMBER 1, 2009

Current legislation allows a $8,000 First-Time Home Buyer tax credit for single buyers with incomes up to $75,000 and married couples with incomes up to $150,000 . . . but only for the next 4 months, until December 1. This Tax Credit is not guaranteed to be extended into 2010. This tax credit in combination with currently low interest rates and the NSP funding available for buying a foreclosed home in Prince George's adds up to a very affordable time to buy.

2009 First-Time Home Buyer Tax Credit Facts at REALTOR.org >>
IRS Form 5405: Claiming the First-Time Homebuyer Credit >>
IRS Guidelines >>

 
INCENTIVES FOR TEACHERS, POLICE, NURSES, FIREFIGHTERS & WORKFORCE HOUSING - NSP down payment and closing cost assistance is available to more than first-time home buyers. It is also available to teachers, police officers, nurses, firefighters, and to anyone moving to within 3 miles of their employment. Deputy Sheriffs and municipal police officers also save on transfer taxes when buying a home in Prince George's County.

 
BEING A HOMEBUYER BUILDS WEALTH - Check out these statistics showing the change in home prices over the last ten years in the top 100 U.S. metros. Even in the midst of a recession, home values show strong growth over time.

 
FHA TOOLKIT - Every REALTOR® who wants to sell more homes will benefit from the NAR FHA Toolkit and information on FHA loans, which includes video FAQs and guides to major FHA-insured loan programs - all you need to help clients find the right FHA-insured loans. Whether it's to finance needed repairs, qualify for a better interest rate, or qualify for NSP down payment assistance, an FHA loan offers many advantages to homebuyers.

Click here for FREE or low-cost resources and marketing brochures.
Click here to read how an FHA 203(k) loan allowed one military family to buy their new home.
Want to be savvy on 203(k) refinance loans and skip the headaches? Take the 3 CEU class >>


 
 
DOWNPAYMENT ON YOUR DREAM BROCHURES AVAILABLE

PGCAR has a limited supply of NSP Down Payment on Your Dream promotional brochures targeting the home buying public. Brokers and office managers may pick up a supply for display in your offices. The brochures will be distributed on a first come, first served basis while supplies last.

 
 
DC SALESPERSON LICENSE RENEWALS DUE AUGUST 31

Don't wait until the last minute to meet your District of Columbia CEU hour requirements for license renewal. ALL REQUIRED DC CEU HOURS are offered at PGCAR.

This Friday, July 31 @ 9:30 a.m.
DC Ethics
Wednesday, August 19 @ 9:30 am
DC Legislative Update

Register for YOUR choices of classes here >>

For more information, licensing FAQs and detailed instructions please visit the District of Columbia Real Estate Commission website.

 
 
Red Cross Blood Drive at PGCAR
Save the Date!
Next PGCAR Blood Drive
Thursday, August 20
9 am - 3 pm @ PGCAR

On June 25, we collected 26 pints of blood. Great job! Thanks for caring enough to Give Blood . . . to Give Life.

Please donate on August 20 and bring a friend!

 

 

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.

 
AUGUST HOMEBUYER CLASSES
Saturday, August 8, 2009 9:00 a.m. - 5:00 p.m. Parts 1 & 2 (8 Hours)
- - - - - - - - - - - -
Tuesday, August 11, 2009 5:30 p.m. - 9:30 p.m. Part 1 (4 Hours)
Thursday, August 13, 2009 5:30 p.m. - 9:30 p.m. Part 2 (4 Hours)
- - - - - - - - - - - -
Monday, August 24, 2009 5:30 p.m. - 9:30 p.m. Part 1 (4 Hours)
Wednesday, August 26, 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 ALL of Your Continuing Education requirements for Maryland and DC license renewal right here at PGCAR! DC licensing for real estate salespersons must be renewed by August 31!

  • Earn your 9 CE in required categories July 31, August 19 and August 26.
  • Only need your 6 elective CE hours? Most PGCAR classes are also approved for DC elective CE. Check the class listings below.

Sign up for multiple classes here!


This Friday, July 31
DC Ethics
3 DC Required Ethics CEU; no MD CEU
Tom Lynch 9:30 am - 12:30 pm

Wednesday, August 12
MD Code of Ethics
3 MD Required Ethics CEU;
3 DC Elective CEU
Larry Hudson 6:00 pm - 9:00 pm

Friday, August 14
203K Purchase Rehab
3 MD Elective CEU;
3 DC Elective CEU
Michael Chelst 9:30 am - 12:30 pm
Building Green for REALTORS®
3 MD Elective CEU
Vimal Kapoor 1:30 pm - 4:30 pm

Tuesday, August 18
Reverse Mortgages
1.5 MD Elective CEU
Bruce Winstead 6:00 pm - 7:30 pm

Wednesday, August 19
DC Legislative Update
3 DC Required Legislative Update CEU
Thomas Lynch 9:30 am - 12:30 pm

Wednesday, August 26
DC Fair Housing & Predatory Lending
3 DC Required Fair Housing CEU
Thomas Lynch 9:30 am - 12:30 pm
DC Ethics
3 DC Required Ethics CEU
Thomas Lynch 1:30 pm - 4:30 pm

Thursday, August 27
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

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 >>

 
 
DID YOU KNOW?

Most mortgage rates rose for the first time in four weeks as the average rate for a 30-year fixed mortgage reached 5.2 percent, up from 5.14 percent a week earlier, Freddie Mac said Thursday. NAR also reported Thursday that sales of previously owned homes rose for the third month in a row in June. That hasn't happened since early 2004, during the boom. NAR reports that existing-home sales rose 3.6 percent. More >>

For Prince George's County, the number of Settlements increased in June 2009 in both the single-family and condo residential markets, and the number of new Contracts on single-family homes rose 17%.

The latest local home sales statistics are usually available on the 6th of each month, or the first business day after the 6th. Visit the REALTOR® Resources Statistics Page!

 
 
FANNIE MAE AND FREDDIE MAC TO CLARIFY HVCC APPRAISAL RULES

The Federal Housing Finance Agency (FHFA) has instructed Fannie Mae and Freddie Mac to clarify confusion over the new Home Valuation Code of Conduct for home appraisers implemented this May. NAR President Charles McMillan explains, "Our members were experiencing delayed and lost sales because of poor appraisals conducted often by inexperienced appraisers who were not familiar with the area. The ramifications were so great to our members and to the housing industry that I personally met with the New York Attorney General's office and with the head of the FHFA to share our concerns."

"In those meetings I shared an NAR survey that found 76 percent of our members, representing both buyers and sellers, had experienced an increase in appraisal time since the new HVCC rules were enacted. Similarly, 71 percent of REALTORS® noted an increase in the use of appraisers who were not from the local area. These factors often adversely affected the sale or the sales process, which occasionally resulted in the loss of a sale or a homeowner's inability to refinance into today's lower rates."

On July 23, Fannie Mae and Freddie Mac issued clear guidance on two very important points raised by NAR. First, that lenders should use appraisers who have clear experience in the geographic area. Second, that appraisers are not prohibited from talking to real estate agents. NAR has also asked Congress and the FHFA to immediately implement an 18-month moratorium on the new HVCC rules to further address unintended consequences of this new rule.

Read the full article at REALTOR.org >>
Fannie Mae HVCC FAQs >>
Freddie Mac HVCC FAQs >>

 

Code of Ethics Case Study: Case #2-18:
Honest Treatment of All Parties

As the exclusive agent of Client A, REALTOR® B offered Client A's house for sale, advertising it as being located near a bus stop. Prospect C, who explained that his daily schedule made it necessary for him to have a house near the bus stop, was shown Client A's property, liked it, and made a deposit. Two days later REALTOR® B read a notice that the bus line running near Client A's house was being discontinued. He informed Prospect C of this and Prospect C responded that he was no longer interested in Client C's house since the availability of bus transportation was essential to him. REALTOR® B informed Client A and recommended that Prospect C's deposit be returned.

Client A reluctantly complied with REALTOR® B's recommendation, but then complained to the Board of REALTOR® that REALTOR® B had not faithfully protected and promoted his interests; that after Prospect C had expressed his willingness to buy, REALTOR® B should not have made a disclosure that killed the sale since the point actually was not of major importance. The new bus route, he showed, would put a stop within six blocks of the property.

In a hearing before a Hearing Panel of the Board's Professional Standards Committee, REALTOR® B explained that in advertising Client A's property, the fact that a bus stop was less than a block from the property had been prominently featured. He also made the point that Prospect C, in consulting with him, had emphasized that Prospect C's physical disability necessitated a home near a bus stop. Thus, in his judgment the change in bus routing materially changed the characteristics of the property in the eyes of the prospective buyer, and he felt under his obligation to give honest treatment to all parties in the transaction, that he should inform Prospect C, and that in so doing he was not violating his obligation to his client.

Based on your understanding of the Code of Ethics Article 2, how do you think the Professional Standards Panel ruled?

Find out here >>

 
 
2010 PGCAR DUES

The Board of Directors has voted to keep our local PGCAR Association dues the same as 2009. Payments are due by November 30th, 2009 in order to prevent late charges. Total REALTOR® annual dues are as follows:

2010 Total Annual Dues

$549 (includes voluntary RPAC contribution of $35)
$514 (does not include voluntary RPAC contribution of $35)
Prince George's County Association of REALTORS® $205
Maryland Association of REALTORS® $194
National Association of REALTORS® $115
Voluntary RPAC Contribution $ 35

Your dues invoice will be available online in the Members Only section by this Saturday, August 1st. Paying online allows streamlined processing and confirms your payment as soon as accepted. It will also email you a dues payment receipt for your records.

 
 
SCHEDULE THESE DATES NOW
GRI 100 Starts October 7
Sign up for the entire, 30 CE Series here!
(1.5 Fair Housing, 3 Ethics, and 25.5 Elective CE hours)

Need a few make-up classes?
Sign up for individual classes by clicking class titles below.

  red arrow Module 101: Building a Real Estate Business - Wed, Oct 7
  red arrow Module 102: Prospecting & Listing Techniques - Fri, Oct 9
  red arrow Module 103: Fair Housing & Cultural Issues; and MD Law Ethics, Flipping & Predatory Lending - Wed, Oct 14
  red arrow Module 104: Basic Residential Financing - Wed, Oct 21
  red arrow Module 105: Marketing Methods - Thur, Oct 22

 

SPOTLIGHT SPECIALS

The market is starting to turn around! Get your properties in front of over 127,000 homes and businesses in Prince George's County by advertising in The Gazette Paper!

For the next 3 weeks, pay only $30 for the 1st listing, and $25 each additional listing (regular price is $50/listing). Attached is a copy of the page and a flyer with all of the information.

Internet Specials - For $20/mo. advertise your information and website to the people who visit our site monthly, ask me how!

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,
August 10
  Ad Copy
Deadline
Wednesday,
August 12
  Publication
Date
Thursday,
August 20

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

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

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

Haven't updated your profile yet? Click here and log in to Members Only to edit your Membership profile.

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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