Voting for YOUR 2018 PGCAR Board of Directors
closes at 12 noon on Thursday, September 21.
Congratulations to
PGCAR Member Boyd Campbell,
2018 President of the Maryland REALTORS®!
The Prince George's County Association of REALTORS® is proud to announce that, one of our own, Boyd Campbell, was installed as 2018 President of the Maryland REALTORS® during the Annual REALTOR® Conference in Ocean City, Maryland (September 11 to 13).
At a gala event on Tuesday, September 12, Boyd took the oath of office, and now represents 23,000 REALTORS
® in the state of Maryland. Boyd, who is currently an Associate Broker with Century 21 - New Millennium in Bowie, served as President of PGCAR in 2002. He is an accomplished broker with strong volunteer ties to PGCAR, Maryland REALTORS
®, NAR, and Bright MLS.
Read the article on Boyd Campbell in the
August / September 2017 issue of Maryland REALTOR® >
New Office Renovation Begins
The Prince George's County Association of REALTORS
® began demolition on their new office space at Metro East, 8300 Corporate Drive, Landover, Maryland, at the heart of the New Carrollton Metro Center. The site will serve as their permanent headquarters.
Representatives of PGCAR were on hand the morning of Tuesday, August 8 to commemorate the demolition; along with Council Member Andrea Harrison and her Chief of Staff, Rodney Streeter representing the 5
th Councilmanic District of the County where the headquarters is located; and representatives of Corenic Construction who will be performing the renovation work.
Today the Association is one step closer towards opening the doors to their permanent headquarters. Overjoyed with excitement, "This is an exciting time and I can't wait to get started," said Association President Patricia Dowtin.
Over the next few months, the headquarters location will be remodeled to suit the needs of Association members and staff.
LEGISLATIVE ALERT - August 1, 2017
Dwayne Mingo, Director of Governmental Affairs
MARYLAND REAL ESTATE COMMISSION
GUIDELINES FOR RETURN OF DEPOSIT
In light of recent phone calls to PGCAR regarding the return of security deposits, we wish to remind and encourage REALTORS
® transacting business in Prince George's County, to study and be completely understanding of Maryland Law relative to the handling of escrow monies. We are happy to share this memo from the Maryland Real Estate Commission that very clearly illustrates how to operate within the law. Also included is a link to the state statute itself.
Maryland law that regulates real estate brokers, associate brokers, and salespersons requires that trust money be deposited in the broker's trust account promptly after both parties accept the contract of sale.
Although most contracts contain a provision governing the disposition of the deposit money if the property does not go to settlement, disputes often arise as to the underlying facts as well as the specific reasons for the cancellation. For this reason, brokers are often unwilling to release the funds on the request of a party claiming the right to them.
Have You Disclosed?
by Dwayne Mingo, PGCAR Director of Governmental Affairs
Is your new listing located within a Special Tax District?
Does it have a Tree Conservation Easement?
Is it exposed to airport noise?
As REALTORS
® it is essential to educate yourself on available resources to better assist you and your clients. Also, as REALTORS
®, you have a fiduciary responsibility and obligation to disclose information to the buyer or seller.
How are you obtaining information to disclose if a property is located in a Special Taxing District or if there is a Tree Conservation Plan?
Help For Common Ownership Communities
FHA & VA Condominium and Homeowners Association Approval Pamphlet
Condominium projects and homeowners associations are struggling in Prince George's County because of foreclosures, low returns on assessments, inadequate reserves and, in some cases, simply the apathy of board members and residents. This situation often results in the inability for these projects to receive and maintain HUD financing approval. PGCAR has created a resource guide to assist COC's in qualifying and maintaining their FHA and VA loan approvals.
The
FHA & VA Condominium and Homeowners Association Approval Pamphlet walks COC officers and management companies through the complicated process of obtaining HUD approvals and includes valuable contact resources.
Help homebuyers get into their dream home with the
HomeReady® mortgage, an affordable Fannie Mae lending product.
Eligible Homebuyer Income Limits Have Increased
Pathway to Purchase is still available, offering first-time home buyers in Prince George's County up to $10,000 in down payment and closing cost assistance. The maximum eligible home sales price is $307,000. Homebuyers may have an annual household income up to 80% of the area median, adjusted for family size. Single household buyers can have between $38,811 and $61,800 annual income. A household of five can have between $59,823 and $95,350 to qualify.
Share information on this great program while funding is still available >
For information on program income limits, buyer contribution, area median income, debt requirements, and other application details:
PGCAR REALTOR® Resource Center is Temporarily Closed
Effective immediately, as a result of staffing changes and to more efficiently process SentriLock keys, the REALTOR
® Resource Center, our room with a computer and printer for members to use, is closed until further notice. The Center will reopen in the near future.
