Printable Version      Email to a Friend

< Back to REALTOR® Connection Archive

Prince George's County Association of REALTORS website link
Members Only  |  Forms  |  Education  |  Calendar
March 3, 2015


MARYLAND MORTGAGE TRIPLE PLAY PROGRAM OFFERS $100 MILLION IN DOWN PAYMENT ASSISTANCE TO PRINCE GEORGE'S COUNTY HOME BUYERS

On February 4, more than 350 PGCAR and Washington Metro-area REALTORS® learned how the Maryland Mortgage Triple Play Program can enhance their business and assist their clients. At the event sponsored by PGCAR and the Maryland Department of Housing and Community Development, REALTORS® learned how this new $100 million initiative is already helping, and will help an estimated 500 total buyers realize the American dream in Prince George's County. During the Networking Lunch, REALTORS® heard from officials with the Maryland and Prince George's County Departments of Housing and Community Development (DHCD) and had the opportunity to mingle with approved lenders.

TriplePlay mortgage and down payment assistance in Prince George's County
Bill Ariano, Doris Kessebeh, Desiree Callender, Eric Brown, Katherine Sewell, Gene Frazier

For more details on the TriplePlay program, click here >


Thank you to our sponsors for helping to ensure the great success of this event:
First Home Mortgage, Prime Lending and Village Settlements!

     
.   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .  
David Maclin Scholarship 5K Fundraiser


Why not be a sponsor? With sponsorships starting at $150, it's a great way to have your company acknowledged as you help raise David Maclin Scholarship Funds for local high school graduates!! Sponsors will be recognized during the event, on the T-Shirts and Banners, on the PGCAR.com website and PGCAR facebook page, and in REALTOR® Connection.

Purchasing a Burma Sign for $150 gains you a sign along the 5K path and a FREE 5K entry, and you'll be linked to from our website, all upcoming email promotions, and our facebook page!

.   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .  
DC BROKER AND PROPERTY MANAGER LICENSES
Non-renewed licenses expired as of March 1, 2015

Renew Your DC Broker or Property Manager License Online >

Practicing real estate within DC without a current DC real estate license is punishable by fines, loss of your license and other disciplinary actions. For more information on license renewals from the DC Real Estate Commission, click here. Renewals made now (of an expired license) require a $50 late fee.

Still need CE hours? You may complete your remaining CEU anytime online. Also check the PGCAR upcoming class listings.

License Renewal CE Requirements >
Online Renewal for Brokers and Property Managers >
.   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .  
AT A GLANCE: EDUCATION HIGHLIGHTS AT PGCAR

Early bird registration is only $18 for 3 CEU classes and $11 for 1.5 CEU classes.
Next Wednesday, March 11
Contracts - 3 MD Elective CEU; 3 DC Elective CEU
Next Thursday, March 12
Reverse Mortgages - 1.5 MD Elective CEU
Next Friday, March 13
Financing Issues / Update - 3 DC Required Financing Issues / Update CEU; 3 MD Elective CEU
Wednesday, March 18
MD Legislative Update - 3 MD Required CEU; 3 DC Elective CEU
MD Fair Housing - 1.5 MD Required CEU; 1.5 DC Elective CEU
See the complete schedule and register at www.pgcar.com >

INCLEMENT WEATHER / SNOW POLICY >
.   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .  
REALTORS® INTRODUCTORY GUIDE TO RENTALS 2015

Whether you are an experienced property manager, or learning about the rental market, The REALTORS® Introductory Guide to Rentals is newly revised and will be helpful to you!

The Guide has been extensively revised to bring it into conformance with new state and county laws. Revisions include:
  • The Security Deposits section was revised, due to new Maryland and Prince George's law changes which became effective January 1, 2015 and now mirror one another with respect to payable interest and "notice of damage" requirements.
  • Interest on rental security deposits are now to accrue at the daily U.S. Treasury Yield Curve Rate for 1 year or 1.5%, whichever is greater. The former required interest rate for Prince George's County was 4%.
  • Notice of damages or violations must be given within 45 days after lease is terminated. The former requirement for Prince George's County was 30 days.
  • The Lead Based Paint section was revised, due to Maryland Lead laws which are effective as of January 1, 2015. All residential rental units built before 1978 must now be registered with the Maryland Department of the Environment (MDE) and meet other lead law requirements.
  • At the end of the Rentals Guide, several Prince George's Municipalities and Resources Links have been updated.

Eight contract, listing or notice forms were also revised or added during January, due to changes in the Maryland Lead Laws effective January 1, 2015; Maryland and Prince George's County property management laws effective as of January 1, 2015; and additional state or county legislation.

.   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .  
REALTOR® BENEFITS PROGRAM

It's Here! The REALTOR® Benefits Program 2015. Catalog is hot off the presses and is full of offers & discounts just for REALTORS®!

Click on the logo to download your copy today.

.   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .  
THE REALTOR® CREDIT CARD IS HERE!

Apply for a business or a personal credit card:
  • Competitive interest rates as low as 8.00% APR
  • A comprehensive rewards program
  • No balance transfer or cash advance fees
  • No annual fee
  • Customized real estate-themed designs
  • Apply Today at www.realtorsfcu.org >
.   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .  
NEW AGENTS? INTERESTED AFFILIATES?
2015 Applications are Online

.   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .  
MAKING HOME AFFORDABLE (MHA) PROGRAM WEBINARS

Sessions are scheduled for both MHA Trusted Advisors and MHA Servicers. Click here to see all scheduled classes. Click on Event Center tab if not immediately directed to webinar listing.

Upcoming sessions:

Next Monday, March 9, 2:00 pm - 3:00 pm
Unemployment Program for Trusted Advisors

Next Wednesday, March 11, 2:00 pm - 3:30 pm
CheckMyNPV.com

Wednesday, March 18, 3:00 pm - 4:00 pm
MHA Base NPV Model v5.0
.   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .  
Membership Renewals Past Due

Brokers and non-paid Agents - January 31 was the deadline to pay 2014 - 2015 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, 2015.

Renew Online, or please call the office at 301-306-7900 to renew.
.   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .  
REALTORS® LEGISLATIVE MEETINGS & TRADE EXPO IS MAY 11 - 16

The REALTORS® Legislative Meetings & Trade Expo (renamed from REALTOR® Party Convention & Trade Expo) will be Monday, May 11 through Saturday, May 16 in Washington, DC. The Trade Expo will be open both Wednesday and Thursday from 10 am to 6 pm. Please plan to join other NAR members at this informative and inspiring annual event.

Registration is now open and FREE to REALTOR® members. For more information, to plan your Convention Schedule, and to register, click here. If staying overnight in DC during any portion of the week, please register early for the best hotel selection.
.   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .  
A WEALTH OF INFORMATION - 24 X 7! - Find important industry information, as well as details and registration for PGCAR Events and Classes - all at the PGCAR.com Events Calendar.
.   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .  

- - - CONSUMER'S CORNER - - -
Great reasons to stay in touch! Share these with your customers.


PENDING HOME SALES RISE FOR FIFTH CONSECUTIVE MONTH
Highest Level in 18 Months

Improved buyer demand at the beginning of 2015 pushed pending home sales in January to their highest level since August 2013. All major regions except for the Midwest saw gains in activity in January. The Pending Home Sales Index, a forward-looking indicator based on contract signings, climbed 1.7% to 104.2 in January from an upwardly revised 102.5 in December and is now 8.4% above January 2014 (96.1). This marks the fifth consecutive month of year-over-year gains with each month accelerating the previous month's gain.

Lawrence Yun, NAR chief economist, says for the most part buyers in January were able to overcome tight supply to sign contracts at a pace that highlights the underlying demand that exists in today's market. "Contract activity is convincingly up compared to a year ago despite comparable inventory levels," he said. "The difference this year is the positive factors supporting stronger sales, such as slightly improving credit conditions, more jobs and slower price growth."

Yun also points to more favorable conditions for traditional buyers entering the market. All-cash sales and sales to investors are both down from a year ago, creating less competition and some relief for buyers who still face the challenge of limited homes available for sale. "All indications point to modest sales gains as we head into the spring buying season," says Yun. "However, the pace will greatly depend on how much upward pressure the impact of low inventory will have on home prices. Appreciation anywhere near double-digits isn't healthy or sustainable in the current economic environment."

Read more >

To see Prince George's County home sales statistics as soon as they are released, like us at www.facebook.com/pgcar and visit www.pgcar.com/stats.

National Market News:
Existing-Home Sales Cool in January As Available Inventory Remains Subdued
Income Increases Boosting Housing Optimism
Nearly 80% of Housing Markets Are Stabilizing
New-Home Sales Stay Resilient
Sign of Homebuying Rebound Soon
Home Sales Off to a Bumpy Start in 2015
.   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .  
FIXED MORTGAGE RATES EDGE UP FOR THIRD STRAIGHT WEEK
Still Near Lows of May 2013

"Mortgage rates rose for the third consecutive week in February following solid housing data," said Ken Liefer, Freddie Mac's deputy chief economist. "New home sales [PDF] beat market expectations at an annual pace of 481,000 units, down slightly from 482,000 units in December, but up 5.3 percent from a year ago. Also, the S&P/Case-Shiller National House Price Index [PDF] rose 4.6 percent over the 12-months ending in December 2014."

Freddie Mac reports the following averages for the week ending February 26, 2015:

The 30-year fixed-rate mortgage averaged 3.80%, up from 3.76% ~ Last year: 4.37%
The 15-year fixed-rate mortgage averaged 3.07%, up from 3.05% ~ Last year: 3.39%
The 5-year Treasury-indexed hybrid ARM averaged 2.99%, up from 2.97% ~ Last year: 3.05%
The 1-year Treasury-indexed ARM averaged 2.44%, down from 2.45% ~ Last year: 2.52%

Freddie Mac's Weekly Primary Mortgage Market Survey >

Like PGCAR at www.facebook.com/pgcar to see monthly home sales statistics and this week's mortgage rate report as soon as they are released!
.   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .  
SHARE HOMEBUYER SAVINGS FROM PGCAR.COM

First-time homebuyers, homeowners buying again, Military homebuyers, teachers... There are real estate deals for everyone in Prince George's County. It's easy to find the right information and send links from www.pgcar.com >
.   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .   .  


9200 Basil Court, Suite 400  |  Largo MD 20774  |  Phone 301.306.7900  |  Fax 301.306.8273
PGCAR.com  |  jostenso@PGCAR.com  |  ©2015 PGCAR
visit the PGCAR website              visit the PGCAR Facebook page        

< Back to REALTOR® Connection Archive