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September 4, 2015


    I n   t h i s   i s s u e . . .
 
Events & Industry Insider Info
  • Annual Meeting and Installation - September 23
  • 2015 / 2016 PGCAR Officer and Director Voting is Now Open
  • In the News! - PGCAR President Helps Tout County Gains at Press Conference
  • WCR Annual Crab Feast - Friday Evening, September 11
  • "Know Before you Owe" Goes into Effect October 3
        - New September 16 Training Options Just Added
  • PGCAR Offers RBI SmartCharts as a Member Benefit - FREE Training Next Thursday!
  • September MD and DC CEU at PGCAR
  • MD CEU Requirements Change October 1
  • REALTORS® Resource: Introductory Guide to Rentals
  • PGCAR . . . The Value Proposition
  • 2015 / 2016 Membership Renewals are Due October 1
  • RPAC . . . Expanding and Protecting Your Ability To Sell Homes
  • Making Home Affordable (MHA) - Free Training Webinars
  • Membership Applications
  • Labor Day Holiday: Monday, September 8


  • Consumer's Corner
  • Prince George's Home Sales Increased Again in July!
        - August Stats Available After Labor Day
  • Average 30-Year Fixed Mortgage Rate Rise, Still Below 4%
  • Red Cross Blood Drive - Thursday, October 15


  • The Prince George's County Association of REALTORS® invites you to the
    Annual Installation of Officers & Directors
    Wednesday, September 23
    11:30 am - 1:30 pm
    at Camelot


    Reception: 11:30 am
    Dress: Business Attire
    Ceremony and Luncheon: 12 noon - 1:30 pm
    Registration: $40 per person
    Location: Camelot by Martin's
    13905 Central Avenue, Upper Marlboro, MD 20774

    Registration closes at midnight Wednesday, September 16.
    Register online at www.pgcar.com >






    2015 / 2016 PGCAR OFFICER AND DIRECTOR CANDIDATES

    Online voting is now open at www.pgcar.com/vote, and it's quick and easy to do! Just review the slate of candidates below, then sign in and vote. If you are unable to vote online, you may contact the Association office at 301-306-7900 to have a paper ballot mailed to you.


    The 2015 / 2016 Candidates
    President: Chuck Ottley, SellState Dominion Realty
    President-Elect: Patricia Dowtin, Long & Foster Real Estate
    Secretary: Cheryl Abrams, RE/MAX United Real Estate
    Directors:
    (4 to be elected)
    Donald Frederick, RE/MAX United Real Estate
    Art Greene, Long & Foster Real Estate
    Doris Kessebeh, EXIT Bennett Realty
    Veera Phillips, Keller Williams Preferred Properties
    Shameeka Price, Capital Structures Real Estate



    All ballots must be cast online no later than midnight on September 20.
    Paper ballots will be accepted until 12 noon on Monday, September 21.


    Vote Today >

    Then register for our Annual Installation
    to congratulate our new volunteer leadership >
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    PGCAR REALTORS® IN THE NEWS!
    County Executive Baker Touts Economic Gains in Prince George's County


    PGCAR President Desiree Callender was invited to also speak at a recent press conference held by Prince George's County Executive Rushern Baker. Desiree spoke and answered questions on Prince George's County housing market changes and gains.

    Read Capital Gazette coverage of the recent press conference >
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    Prince Georges County Chapter
    Annual Crab Feast

    Friday, September 11
    7 pm to 11 pm
    Knights of Columbus - College Park
    9450 Cherry Hill Road, College Park, MD 20740

    Join the Prince George's County Women's Council of REALTORS®
    for an all-you-can-eat crab feast!


    Enjoy Maryland crabs, corn on the cob, fried and baked chicken, hot dogs,
    potato salad, cole slaw, watermelon and other desserts, beer, soda and a cash bar service.


    Entertainment includes DJ Phil, dancing, door prizes and a raffle.
    Tickets are $58 in advance or $60 at the door.


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    Be Prepared for the New Mortgage Closing Rules Known as TRID


    In our continuing efforts to keep you abreast of the latest news on the implementation of the Truth in Lending RESPA Integrated Document (TRID) rule by the Consumer Financial Protection Bureau (CFPB), NAR is pleased to announce new resources to help REALTORS® prepare for the changes. On August 14, after close collaboration with NAR, the CFPB launched a new online toolkit for real estate professionals as part of its "Know Before You Owe" campaign. CFPB uses the term "Know Before You Owe" for its consumer facing communications regarding TRID. The new website is designed to help real estate professionals understand the changes to the closing process, that will go into effect on October 3, 2015, and how to explain the changes to clients. The site also includes resources that real estate professionals can provide to their clients.

    REALTORS® are highly encouraged to familiarize themselves and their clients on the new rules with these tools:
    PGCAR is your resource for education opportunities on this important topic.
    Two FREE classes have just been added for PGCAR members only, to cover these new rules:
    • Keep Calm, and TRID On. The new mortgage disclosure rules: What you need to know
      10 am - 12 noon on Wednesday, September 16
      Register here >
    • Keep Calm, and TRID On. The new mortgage disclosure rules: What you need to know
      1:30 - 3:30 pm on Wednesday, September 16
      Register here >
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    PGCAR REALTORS®: You Have Access to Smartcharts ProTM as a Member Benefit
    Learn How to Use it for Quicker, Reliable Market Facts that will WOW Your Customers

    PGCAR Offering SmartCharts PRO as a Member Benefit Register TODAY for one of two
    Thursday, September 10
    FREE training sessions at PGCAR
    10 - 11 am or 1 - 2 pm


    Training is FREE for PGCAR members. . .
    Advanced registration is required!
    1. Log in with your MRIS account first.
    2. Then click here to register for your choice of morning or afternoon training.
    Be the local market expert, able to answer home buyer and home seller questions with credible information and easy-to-understand charts!

    Sign up for your SmartCharts ProTM access.
    It's a PGCAR REALTOR® member benefit.
    Then Sign Up for FREE training too!

    PGCAR is among the first MRIS Associations to provide SmartCharts ProTM as a member benefit. Here's a 2-minute video to provide a quick and helpful overview.


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    AT A GLANCE: NEXT-UP CEU AT PGCAR

    PGCAR members save BIG!
    Early bird registration is only $18 for 3 CEU classes and $11 for 1.5 CEU classes.
    Monday, September 14
    Conducting a Productive Open House - 3 MD Elective CEU
    Thursday, September 17
    Short Sales, Secrets for the Listing Agent & Buyer's Agent - 3 MD Elective CEU
    Reverse Mortgages - 1.5 MD Elective CEU
    Thursday, September 24
    Nuts & Bolts of an Alternative Dispute Resolution - 1.5 MD Elective CEU
    Friday, September 25
    MREC Agency - Residential - 3 MD Required or Elective CEU; Required Every 2-year Renewal Cycle as of October 1, 2015
    Monday, September 28
    MD Code of Ethics - 3 MD Required & DC Elective CEU
    Wednesday, September 30
    MD Legislative Update - 3 MD Required & DC Elective CEU
    MD Fair Housing - 1.5 MD Required & DC Elective CEU
    See the complete schedule and register at www.pgcar.com >
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    MARYLAND CEU REQUIREMENTS CHANGE OCTOBER 1
    Meet All Required CEU Categories Every 2 Years

    Is your Maryland license expiring soon? If it expires October 1 or afterwards, you will need to meet the NEW Maryland CEU requirements.

    15 total CE hours are required for license renewal.
    Here are the required CE categories:


    3 Maryland Legal Update CE hours Category A Required every 2-year renewal
    1.5 Maryland Fair Housing CE hours Category C Required every 2-year renewal
    3 Maryland Ethics CE hours Category D Required every 2-year renewal
    3 Maryland Agency CE hours Category H Currently required every 4 years; Required for every 2-year renewal for licenses expiring 10/1/15 and later
    3 Maryland Supervision CE hours Category I Currently required every 4 years for Brokers, Managers and Team Leaders; Required for every 2-year renewal cycle for Brokers, Managers and Team Leaders for licenses expiring 10/1/15 and later
    Again, the 15 total CEU requirement will be more uniform across all Maryland real estate licensees for each 2-year renewal cycle as of October 1, 2015 and on:
    • Licensees who are not a Broker, Manager or Team Leader will have 10.5 hours in required subjects (Categories A, C, D and H) and 4.5 Elective hours.
    • Licensees who are Brokers, Managers or Team Leaders will have 13.5 hours in required subjects (Categories A, C, D, H and I) and 1.5 hours in electives.
    • The previous lowered 7.5 CE requirement for licensees who possess a graduate degree in law or real estate, and are not a broker, associate broker, or designated a branch office manager or team leader also expires as of October 1, 2015.
    PGCAR has you covered for all Maryland and DC CEU requirements. Many of our classes are approved for both Maryland and DC. See the complete CE schedule and register at www.PGCAR.com or take online classes 7/24 here or here!
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    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 will be helpful to you!

    The 2015 Guide revision is meant to help keep you current with new state and county laws. As several months have passed since we announced those changes, we thought it wise to include a reminder:
    • The Security Deposits section was revised in January. 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. When you renew a rental property lease, are you using the updated lease?
    • 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.

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    Message from the President - August 7, 2015

    PGCAR . . . The Value Proposition:
    Where Would I Be Without PGCAR?

      Desiree Callender photo
    Desiree Callender
    2015 PGCAR President

    Our PGCAR President Desiree Callender was recently asked the question, "Hey, what do I get for my association dues anyway?" She responded by rattling off a myriad of association benefits. Afterwards she thought, what would any of our businesses be like with no professional trade group like PGCAR looking out for our best interests, and homeowners best interests?
    • What if there was no state-of-the-art MLS system such as MRIS; which the cooperation and capital investment of PGCAR and other metro region REALTOR® Associations helped create?
    • What if Prince George's County had passed the $.15 property tax increase?
    • What if PGCAR had not fought against that and other tax hikes?
    • Would home ownership here and nationwide be an attractive investment without the mortgage interest deduction we are still fighting to preserve?
    • What would the legal expense be if real estate offices had to hire attorneys to create our own real estate contract forms from scratch, and what would our liability exposure be without the state and county forms provided for us by MAR and PGCAR?
    • What would our legal exposure be, without an organized dispute resolution mechanism like the Grievance and Professional Standards processes offered by PGCAR and MAR. Disputes with clients or other brokerages would be dealt with before the real estate commission and possibly the court system. How much money, time and lost business would that cost?
    Finally after considering what it would be like if there were no PGCAR, Desiree concluded thankfully PGCAR is there to serve us. And we can turn to them for MLS, political advocacy, legal assistance, advice and more, and all for the relatively affordable price of about $1.95 a day.

    Read more about what we gain with our Association membership. And if not taking full advantage of all the benefits offered to you. . . please do check out at least one more. These benefits are here to save us time and money. PGCAR provides us so many of the tools we need, from the market and industry knowledge needed to gain a new listing or buyer client, to taking a contract to settlement!

    Complete article and partial listing of membership benefits >
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    2015 / 2016 DUES RENEWALS ARE NOW ONLINE
    Membership Renewals are Due October 1

    Please renew your dues early, online at www.pgcar.com/dues.

    Renewing online gives you an immediate itemized dues receipt, adds your dues payment to your Members Only dues report . . . and saves your Association manual processing time and expenses.

    THANK YOU for your involvement in PGCAR! We look forward to serving you and continuing to improve, through another upswing year!
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    A Message From 2015 RPAC Chair, Joanne Darling - August 7, 2015

     
    Joanne Darling
    2015 RPAC Chair

    PGCAR and RPAC played a valuable role in the recent advocacy campaign against the $.15 property tax hike. Through grants from NAR and MAR, your Association (PGCAR) was able to run full-page advertising in the local press against the tax increase and generate close to 2000 calls and emails into the County Council. This effort most definitely swayed the vote away from the $.15 concept. This is just one example of how PGCAR and RPAC protect your ability to do business.

    Our influence can only be as strong as the relationships we build with our elected officials. These relationships pave the road to our political success. RPAC provides the opportunity to enhance our relationships with existing politicians (our REALTOR® Party Friends) and a chance to build relationships with newly elected officials, hopefully securing their membership in the "REALTOR® Party."

    Through RPAC, REALTORS® have seen solid victories in recent years:
    • Stopped the $.15 Countywide property tax hike
    • Defeated a proposal to create a moratorium on foreclosures
    • Reduced the rate of interest on rental security deposits
    • Defeated legislation restricting rental units in certain zones
    • Defeated rent control in College Park
    • Stopped transfer taxes on front foot benefit assessments
    • Defeated efforts to require energy audits at property transfer
    • Passed legislation to expand financial literacy education in public schools
    • Halted collection of tax on forgiven debt in a short sale transaction
    You can read more about how RPAC helps REALTORS® here: RPAC does NOT BUY VOTES. RPAC supports positions, NOT parties. RPAC is bipartisan, supporting political candidates who value protecting real estate transactions, homeownership and property rights. Your voluntary contribution . . . $15, $35, $99, or more helps in this necessary endeavor.


    And remember, if real estate is your profession, politics is your business!

    Thank You,
    Joanne Darling, 2015 RPAC Chair

    RPAC contributions are not deductible for federal income tax purposes. Contributions to RPAC are voluntary and are used for political purposes. The amounts indicated are merely guidelines and you may contribute more or less than the suggested amounts. The National Association of REALTORS® and its state and local associations will not favor or disadvantage any member because of the amount contributed or a decision not to contribute. You may refuse to contribute without reprisal. 70% of each contribution is used by your state PAC to support state and local political candidates; 30% is sent to National RPAC to support federal candidates and is charged against your limits under 52 U.S.C. 30116.
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    MAKING HOME AFFORDABLE (MHA) PROGRAM WEBINARS

    There are sessions for 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:

    Monday, September 14, 2:00 pm - 3:00 pm
    Home Affordable Foreclosure Alternatives Program for Trusted Advisors
    This updated live webinar is designed for trusted advisors to discuss the Home Affordable Foreclosure Alternatives (HAFA) program. As part of MHA, HAFA provides homeowners with additional options to avoid costly foreclosures, and offers incentives to those parties who utilize a short sale or deed-in-lieu (DIL) alternative. This webinar outlines the HAFA program, as well as the process that borrowers and servicers must follow to ensure that every borrower is evaluated accurately, timely, and appropriately.

    Thursday, September 17, 2:30 pm - 4:00 pm
    CheckMyNPV.com
    Learn how this free online tool helps homeowners understand the net present value (NPV) evaluation process under HAMP by conducting an NPV evaluation of their mortgage. This session describes the calculator's easy step-by-step data entry process that allows homeowners to conduct an independent NPV evaluation and obtain a downloadable copy of the results.

    Thursday, September 24, 2:00 pm - 3:00 pm
    MHA Tools and Resources for Trusted Advisors
    In this information packed session, you will learn how to navigate through HMPadmin.com and MakingHomeAffordable.gov. This session will explore all of the resources that are available to you, the homeowner trusted advisor, to assist homeowners who may qualify for assistance under the Making Home Affordable Program.
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    2015 MEMBERSHIP APPLICATIONS

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    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.
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    Happy Labor Day

    We wish you a happy and safe Labor Day!

    PGCAR will be closed
    this Monday, September 7 in observance
    of the Labor Day holiday.


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


    PRINCE GEORGE'S HOME SALES INCREASED AGAIN IN JULY!
    Check with Us After Labor Day for August Home Sales Statistics

    July home sales contracts and all major year-to-date market statistics continued this year's positive trend. Heading into fall, supply is trending up and sales appear to be maintaining the summer swell longer than usual.

    See more details at www.pgcar.com/stats >

    Be one of the first to see August market statistics when they're released. Follow us at www.facebook.com/pgcar >
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    FIXED MORTGAGE RATES REMAIN BELOW FOUR PERCENT
    Rates Tick Down, Then Just a Bit Higher Amid Continued Volatility

    ""Fasten your seat belts. It's going to be a bumpy night," said Bette Davis in All About Eve. That could just as well have been Janet Yellen, or a specialist at the New York Stock Exchange, or the head of the People's Bank of China on yet another week with lots of volatility on essentially no new information," said Sean Becketti, Freddie Mac's chief economist. "The 30-year mortgage rate increased 5 basis points, but don't read too much into that. The Fed took great pains at the Jackson Hole conference to keep all their options open and to avoid making too much -- or too little -- of the situation in China and the volatility in global equity markets. This Friday's employment report is the last piece of significant, solid evidence the FOMC will have to consider before their September decision. The Street appears to be calling it a coin flip. There won't be a clear direction for mortgage rates until the Fed makes its September decision, at the earliest."

    Freddie Mac reports the following averages for the week ending September 3, 2015:

    The 30-year fixed-rate mortgage averaged 3.89%, up from 3.84% ~ Last year: 4.10%
    The 15-year fixed-rate mortgage averaged 3.09%, up from 3.06% ~ Last year: 3.24%
    The 5-year Treasury-indexed hybrid ARM averaged 2.93%, up from 2.90% ~ Last year: 2.97%
    The 1-year Treasury-indexed ARM averaged 2.62%, same as last week ~ Last year: 2.40%

    Freddie Mac's Weekly Primary Mortgage Market Survey >

    Like PGCAR at www.facebook.com/pgcar to see monthly home sales statistics and weekly mortgage rate reports as soon as they are released!

    National Industry News:

    Trending Topics & Tips:
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    GIVE THE GIFT OF LIFE!

    Mark your calendars, send out the invites now.
    PGCAR is hosting a Red Cross Blood Drive® on Thursday, October 15.

    Join us at the PGCAR office from 9 am to 2:30 pm, and encourage friends, family, and colleagues to participate; all are welcome!
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    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  |  mikeg@PGCAR.com  |  ©2015 PGCAR
    visit the PGCAR website              visit the PGCAR Facebook page        

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