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March 18, 2013

    I n   t h i s   i s s u e . . .
 
Events
  • Second Annual 5K Fun Walk/Run
  • GRI 100 Series Begins April 11th
  • Red Cross Blood Drive
  • Annual Prayer Breakfast - March 29
  • RPAC Presents: Casino Night!
  • Huge SentriLock Sale
  • 2013 NAR Midyear Meetings & Trade Expo
  • Good Neighbor Award Nominations

    Homeownership Matters
  • Homebuyer Incentives in Prince George's County
  • Consumer Tip: Spring Cleaning
        A Worthwhile Yearly Ritual
  •  
    The Industry Insider
  • DC and MD CEU
  • Sale on All PGCAR Classes
  • Maryland on Foreclosure Flare-up List
  • Market Sen$e: Rates Moving Up With Economy
  • February Home Sales Stats and News Links
  • Sales Coach: Back to Your Future
        The Path to Financial Freedom
  • Code of Ethics: Case #5-1
  • FCU: Benefits for Your Business
  • PGCAR REALTOR® Resources
  • PGCAR Recognized for Legislative Impact
  • MRIS Training Videos
  • NAR Leadership Opportunity
        - Applications Due March 31
  • PGCAR 2013 Membership Reinstatement
  •  
     

    David Maclin Memorial Scholarship Fund - Register Now!
    Second Annual 5K Fun Walk/Run - Saturday, April 20


    You can help improve the life of a Prince George's County student!

    Every person that walks or runs with us, or contributes, helps local high school graduates
    pursue their dreams of higher education and of making a difference.

    Commit to helping more students reach their dreams by joining us now!

    Register or Donate >     Become a Sponsor >

    David Maclin Memorial Scholarship 5K Run Walk
    DATE:   Saturday, April 20
    (RAIN OR SHINE)
    TIME:   9 - 11:30 am 5K Fun Walk/Run
    8 - 8:45 am Registration & Packet Pickup
    LOCATION:   Marlboro Ridge Club House
    COST:   $25 - adults, $5 - children under 12
    $30 for adult registrations after April 14 and Race Day

    Then, please post this flyer in your office lobby and share the event link from facebook.com/pgcar.

    Better yet - print out some copies and ask to post them at the next five places you visit.

    Office Lobby * Coffee Shop * Sporting Goods Merchandiser * Book Store * Community Mail Box

    Let's post the David Maclin 5K Scholarship Fun Walk/Run all over Prince George's County and change the lives of deserving local high school graduates!

    Flyer & Printable Registration >

    Printable Sponsorship Contribution Form >     Runner Sponsor Form >

     
     

    GRI 100 Series Begins April 11 - Learn More, Earn More in 2013


    Improve your industry knowledge and your income!

    You can earn your GRI by taking the GRI 100, 200 and 300 Series in any order. Register for the entire GRI 100 or individual classes at www.pgcar.com.


    GRI 100 Series Class Schedule
    Thursday, April 11
    8:30 a.m. - 4:00 p.m.
    Module 101: Building a Real Estate Business
    Tuesday, April 16
    8:30 a.m. - 4:00 p.m.
    Module 102: Prospecting & Listing Techniques
    Thursday, April 18
    8:30 a.m. - 4:00 p.m.
    Module 103: Fair Housing & Cultural Issues; and MD
    Law Ethics, Flipping & Predatory Lending
    Tuesday, April 23
    8:30 a.m. - 4:00 p.m.
    Module 104: Basic Residential Financing
    Thursday, April 25
    8:30 a.m. - 4:00 p.m.
    Module 105: Marketing Methods

    Sign Up for the Entire Series Here >

     
    GIVE BLOOD - SAVE LIVES
    PGCAR is hosting a Red Cross Blood Drive®

    Wednesday, April 17th
    9 am to 3 pm


    at the
    PGCAR Office
    9200 Basil Court, Suite 400
    Largo, MD 20774

    ALL ARE INVITED
    FRIENDS ~ FAMILIES ~ MEMBERS
    COME GIVE THE GIFT OF LIFE!


     
     
    You are Invited to the
    Women's Council of REALTORS®
    35th Annual Prayer Breakfast

    Good Friday, March 29
    8:00 am Registration * 8:30 am Breakfast / Program
    Marlboro Ridge Clubhouse
    11401 Marlboro Ridge Road, Upper Marlboro, MD

    Guest Speaker: Melanie Gamble

    Invite your family and friends to join us as we meet in fellowship with co-workers and associates to give thanks together on Good Friday.

    All REALTORS®, Affiliates and Guests are Welcome!

    $25.00 Donation
    Please register in advance at pgcar.com >

    $150 Donation
    Sponsorship opportunities are also available (includes 2 tickets and recognition in program).
    Become a Sponsor online at www.pgcar.com or contact Kelli Baxter at kbaxter@viptitlegroup.com.

     
     
    Las Vegas Casino Night
    RPAC is hosting another party this spring with table games, an open bar, music, dancing, food, prizes, and much more at their Las Vegas Casino Night. Network and mingle with your fellow real estate professionals in a casual atmosphere, all while helping our business.

    Don't miss out! Make time on Tuesday night, May 7, to support RPAC, our industry and economy, and have FUN doing it! Your RPAC contribution is taken care of simply by registering for tickets.
      Register online >

    Share the flyer >
     

     
     

    HUGE SENTRILOCK LOCKBOX SALE
    Extended for Limited Time

    Back by popular demand, PGCAR is pleased to announce the continuation of the sale on SentriLock Lockboxes. Lockboxes will be sold as follows:

    1 - 9 Lockboxes
    10 - 19 Lockboxes
    20 - 29 Lockboxes
    30 Lockboxes or more
      $65 each + tax
    $60 each + tax
    $55 each + tax
    $50 each + tax

    Also, SentriLock has lowered the cost of power paddles to $55, but only for a limited time. Power paddles must be ordered through PGCAR. If you would like to purchase one or more at this reduced price, please contact Shirley at the Association office.

     
     

    2013 NAR Midyear Legislative Meetings & Trade Expo


    The REALTORS® Midyear Meetings & Trade Expo is where NAR members come together to take an active role in advancing the real estate industry, public policy, and the association. There will be a variety of meetings and events including: special issues forums, committee meetings, legislative activities, and the industry trade show.

    Meetings:   May 13 - 18
    Capitol Hill Visits:   May 15 - 16
    Trade Expo:   May 15 - 16

    Midyears are FREE, as always, to REALTOR® members.
    For more information, to plan your Midyear Schedule, and to register click here.

     
     

    REALTOR® Magazine Seeks Good Neighbor Nominations
    Five Winners will Receive $10,000 Grants and National Publicity


    REALTOR® Magazine is seeking nominees for the 2013 Good Neighbor Awards. The program recognizes REALTORS® whose extraordinary commitment to community service has helped make their communities better places to live.

    If a REALTOR® you know is putting forth the effort to make a difference in the community, help their cause by nominating them today!

    Deadline for entry is Monday, May 20.
    Click here for more details. Click here for rules and an entry form.


     
    1. Maryland Homefront - Expires June 30th, or When Funds Run Out!
      Historically low reduced interest rates starting at 2.875% (APR 3.675%) and increased payment assistance for qualified current and former military members. Program Details >
    2. Homebuyer Savings for City of Laurel
      Buyers of foreclosed homes receive tax credits. The program offers a five-year descending City tax credit of up to $3500 for buyers purchasing their primary residence within Laurel City limits.
      Program Details >
    3. $30 Million Targeted Areas Initiative for All Homebuyers
      First-Time Homebuyers Can Gain Same Benefits in ANY Prince George's County Area

      Reduced interest rates starting at 2.875% (APR 3.675%) for qualified homebuyers purchasing a new primary residence. Program Details >
    4. Buy Suitland Initiative - Savings in 11 Census Tracts!
      Up to 5% of home purchase price to first-time homebuyers; Up to 7% for local civic employees. Program Details >
    5. Federal Home Loan Bank of Atlanta (FHLB Atlanta)
      Up to $15,000 towards a foreclosure purchase; Up to $7,500 toward the purchase of a property located in area approved for NSP funds.
      Program Details >
    6. American Dream Downpayment Assistance (ADDI)
      Up to $10,000 to County Homebuyers who have not owned a home within the last 3 years.
      Program Details >
    7. Freddie Mac HomeSteps SmartBuySM
      Offers up to $500 for purchase of a home warranty.
      Home listings and incentive details >   Sign up for homesteps.com buyer leads >

    Most of these programs can be used in combination. Information on these and other homebuyer savings are available at pgcar.com.


     

    Consumer Tip: Spring Cleaning
    A Worthwhile Yearly Ritual

    cleaning supplies It's winter in the shade and summer in the sun. Spring is arriving and as March winds scour the ground we also are starting to blow out the cobwebs and clear out the cabinets of our homes. Traditionally one of the prime times to sell a house, spring also brings moving vans to many neighborhood streets and cul-de-sacs.

    So whether you are undertaking spring cleaning as normal annual maintenance, or if you are preparing a home to be staged and sold, there are a few things to keep in mind to keep the process efficient and environmentally friendly.

    BATHROOM
    • Put on rubber gloves and use a pumice stone to remove mineral deposits and rust from toilets.
    • Buy large containers of baking soda and vinegar. Mix together in a spray bottle and use as a cleaner for tub and shower stains. Non-toxic and the cost is $4 less than most store bought cleaners.
    • Mopping pushes grime into grout rather than removing it. Use a wet/dry vac to suck contaminates out of grout.

    KITCHEN
    • De-clutter first. Before you start cleaning, remove any expired food, items to sell or donate, and anything that doesn't belong in the kitchen.
    • Clean all surfaces with a microfiber cloth (about $5), vinegar/water spray, and elbow grease.
    • Unplug, then vacuum refrigerator coils.

    BEDROOM AND LIVING AREA
    • Rotate and flip innerspring mattresses.
    • Move out-of-season sheets and clothing to storage.
    • Donate what you haven't worn for 12 months.
    • Vacuum all baseboards, curtains and under the bed.
    • Consider getting mattresses, rugs and curtains professionally cleaned to get rid of any dust mites.
    • Use a damp microfiber cloth to wipe down windows, wood, mirrors, bookshelves, and ceiling blade fans.

    For more useful tips, go to houselogic.com >


     
     

    Earn All MD and DC Required CEU at PGCAR

    All classes are held at PGCAR offices, just off the Route 202 / Landover Road exit of I-495. Find our association office at 9200 Basil Court, Suite 400, Largo, MD 20774. There's plenty of parking.


    This Wednesday, March 20
    MD Code of Ethics
    3 MD Required Ethics CEU;
    3 DC Elective CEU
    Don Martin 9:30 am - 12:30 pm
    Successfully Selling Government Owned Properties
    1.5 MD Elective CEU
    Melanie Gamble 1:30 pm - 3:00 pm

    This Thursday, March 21
    Reverse Mortgages
    1.5 MD Elective CEU
    Bruce Winstead 6:00 pm - 7:30 pm

    This Friday, March 22
    How to Handle Settlements
    3 MD Elective CEU
    Jill Michaels 9:30 am - 12:30 pm
    MREC Required Supervision
    3 MD Required or Elective CEU
    Larry Hudson 1:30 pm - 4:30 pm

    Next Wednesday, March 27
    MREC Agency-Residential
    3 MD Required or Elective CEU
    Fredericka Lloyd 9:30 am - 12:30 pm

    Thursday, April 11
    GRI 100 Series Begins - Full Series of 5 Classes
    MD CEU - 16.5 Hours Total:
    3 Hrs Fair Housing, 3 Hrs Ethics, and 10.5 Hrs Elective CEU
      8:30 am - 4:00 pm
    GRI Module 101 - Building a Real Estate Business   8:30 am - 4:00 pm

    Tuesday, April 16
    GRI Module 102 - Prospecting & Listing Techniques   8:30 am - 4:00 pm

    Thursday, April 18
    GRI Module 103 - Fair Housing & Cultural Issues; and MD Law Ethics, Flipping & Predatory Lending
    MD CEU - 6 Hours Total:
    3 Hrs Fair Housing and 3 Hrs Ethics CEU
      8:30 am - 4:00 pm

    Friday, April 19
    MD Legislative Update
    3 MD Required Legislative Update CEU;
    3 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

    Complete CEU Schedule >

     


     

    Sale on All PGCAR Classes
    Special Pricing Extended Through June 2013


    Sale Tag

    All PGCAR Members and REALTORS® Save Huge on ANY CEU offered at PGCAR!

    Register for ANY 3 CE class for $18 early bird, $33 regular.
    Register for ANY 1.5 CE class for $11 early bird, $26 regular.

    Hurry to www.pgcar.com/real-estate-ceu today >


     

    Maryland on Foreclosure Flare-up List
    MD New Addition to the Top 10

    Sale Tag While the national "foreclosure inferno" has been contained, there are still some states that are becoming foreclosure hot-spots.

    According to RealtyTrac, Maryland is a new addition to the top 10 list of states with the highest foreclosure rates.

    "Dangerous foreclosure flare-ups are still popping up in states where foreclosures have been delayed by a lengthy court process, or by new legislation making it more difficult to foreclose outside of the court system," said Daren Blomquist, Vice President at RealtyTrac. "Foreclosure starts have been steadily building in those states over the last several months and likely will end up as bank repossessions or short sales later this year."

    Read more at Realtormag.Realtor.org >


     

    Market Sen$e: Mortgage Rates Up Alongside Signs of Improving Economy

    Results released last Thursday, March 14th, showed fixed-mortgage rates rising as jobs growth and consumer spending increased.

    Freddie Mac Vice President and Chief Economist Frank Nothaft said the economy added 236,000 new workers in February which helped push down the unemployment rate to 7.7 percent.

    "This helped offset the effects of the payroll tax holiday expiration and led to a 1.1 percent increase in retail sales, which was well above the market consensus forecast," Nothaft said.

    Freddie Mac reports the following averages for the week ending March 14th, 2013:

    • The 30-year fixed-rate mortgage averaged 3.63%, up from 3.52%.
    • The 15-year fixed-rate mortgage averaged 2.79%, up from 2.76%.
    • The 5-year Treasury-indexed hybrid ARM averaged 2.61%, down from 2.63%.
    • The 1-year Treasury-indexed ARM averaged 2.64%, up from 2.63%.
    Freddie Mac's Weekly Primary Mortgage Market Survey >

     

    Detailed Home Sales Statistics for Prince George's County
    Available online, announced on PGCAR Facebook

    facebook logo Statistics for February 2013 are now available at www.pgcar.com/stats >

    The most significant increases were again seen for condos and coops. Listings, contracts, and settlements were all up for February 2013 over the same time last year - with a nearly 27 percent increase in contracts.

    February 2013 stats for single family homes were relatively flat to down slightly compared to February 2012, but there were some notable increases - listings in the $500,000 to $599,999 range were up by 50 percent and listings in the $600,000 to $699,999 range were up by over 57 percent compared to the same time last year.

    We're seeing continued increases in sold dollar volume, and fewer days on the market. And, the average sold price is up by over 11 percent!

    Like us on facebook to be the first to see March home sales statistics and other market news!


     

    Sales Coach: Back to Your Future
    The Path to Financial Freedom

    Home Sales Coach As the real estate market begins showing real signs of recovery, many are again looking to the future instead of merely trying to survive the present.

    With the proper perspective and income-generating strategies, we can set ourselves up for financial security regardless of economic vagaries. The best way to start this process is by figuring out some clear-cut goals.

    For you, this might mean the ability to stop worrying about bills, build up a reserve of cash to get you through a fallow period, or set yourself up to have a concrete retirement date.

    After forming your goals, it's important to assess them and ask yourself if they are enough to get you through the tough periods. Whether it's working late nights or dealing with frustrating aspects of your business, it helps to have that goal in mind to get you through.

    Just planning is never enough in life or business. As Dwight Eisenhower said, "plans are worthless, but planning is everything." The most important part of achieving your goals will be the work itself. While it won't always go as planned, adhering to a success formula will take you far:
    • As your first priority each week, try to bring in a salable listing.
    • Learn to find real buyers, not just lookers.
    • Have a buyer's agency agreement signed, every time.
    • While keeping in mind that your first duty is to the buyer and you need to show them all the properties they would be interested in, always be sure to see if one of your own or your company's listings meets their needs.
    As with the above items, it's important to make sure you are being productive when you are working, not just active. If you aren't working toward results, you might as well stay at home.

    For more details on these concepts, visit Realtormag.Realtor.org >

     
     

    Case #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, what do you think the hearing panel concluded? Click her to find out >


     

    Get Benefits Built for Your Business
    Real Estate Loans and Lines of Credit from REALTORS® FCU

    Learn about a variety of credit solutions to meet the day-to-day demands of your business as well as capital to fund your growth at www.realtorsfcu.org.

    • Business Lines of Credit to ramp up inventory or fund seasonal cash flows. REALTORS® FCU offers both revolving and closed-end credit programs.
    • Business Term Loans to provide funds for the purchase of equipment, vehicles, inventory or other fixed assets.
    • Business Real Estate Loans for purchasing or refinancing owner-occupied commercial real estate. REALTORS® FCU offers a number of financing options, all without a prepayment penalty.

    Join the only credit union designed to meet the unique needs of REALTORS® like you!


     

    PGCAR REALTOR® Resources

    Need information? You might want to try looking in the links section of our REALTOR® Resources page. You'll find links to relevant news outlets, government associations, and frequently requested information like Dos and Don'ts for Unlicensed Assistants and Real Estate Sign Posting Regulations.

    REALTOR® Resources >


     

    NAR Recognizes PGCAR for Compromise on Recordation Tax

    Last year, the Prince George's County Council proposed raising revenue by increasing the real estate recordation tax - for the second year in row. With the help of NAR, we were able to win a compromise and lower that increase. It was through a carefully timed media campaign and your help that we significantly softened the impact of the legislation by the time it was signed into law in July 2012.

    A big thank-you and congratulations to the individual members, volunteer leadership, and committees that cared enough to be involved. Our efforts were successful enough to be recognized by NAR as an example of the effectiveness of our local and national organization.

    Click here to read the NAR article on PGCAR >

    Want to join our other committee members and take a more hands-on approach in helping our industry with issues such as these? Just click here to sign-up for a committee today.


     

    MRIS Training Videos

    Do you find yourself struggling to keep up with the latest enhancements to Matrix and Keystone?
    Whether you are brand new to MRIS or have been a customer for years, MRIS offers a diverse curriculum of product and skill-based training. These product videos are organized by Matrix and Keystone functions, to allow you to choose the individual items you need help with; for instance, CMA, Auto Email, Saved Searches, CARTS, etc. Click here and get the help you need without leaving your home or office. For an in office presentation, please contact Sue Pinder at 301-938-2054 or sue.pinder@mris.net.


     

    Leadership Training Opportunity

    2014 NAR Leadership Academy
    Are you already actively involved, have a passion for the industry and a vision for the future of real estate? If this describes you, consider applying for the 2014 graduating class of the National Association of REALTORS® Leadership Academy.

    Full Details & Application >
    Application deadline is Sunday, March 31, 2013.

     

    Membership Renewals Past Due


    Brokers and non-paid Agents - January 31 was the deadline to pay 2012 - 2013 dues or remove any unpaid agents from your office roster. All new, licensed agents in your office were also required to join by January 31.

    Renew Online, or please call the office at 301-306-7900 to renew.

    Prince George's County Association of REALTORS®
    9200 Basil Court :  Suite 400 : Largo, MD 20774
    Phone 301-306-7900  :  Fax 301-306-8273  :  www.pgcar.com  :  ©2013 PGCAR

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