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July 13, 2009

Mike Graziano, Director of Government Affairs

Down Payment on Your Dream
Neighborhood Stabilization Plan

Applications for Up to $20K Down Payment Assistance
Towards Purchase of Foreclosure
NOW Being Accepted

The Prince George's Department of Housing and Community Development (DHCD) began accepting NSP Loan applications on June 30, 2009. REALTORS® and consumers may now go to the Prince George's County NSP website for complete information about the "Down Payment On Your Dream" assistance program. Click on the " REALTORS® Only" and "Lenders Only" links for all necessary forms and applications.

From the County's web page, consumers are steered to to search for REALTORS® and to gather information about the program. When landing at, potential home buyers are greeted by a consumer friendly home page with details about the NSP, a system to search for Prince George's County REALTORS® and much more consumer oriented information.

  1. NEW - The DHCD is now accepting applications.
  2. NEW - The County has released a promotional site at
  3. NEW - ALL NSP required forms and information have been updated at Members Only since program start (June 30). New resources have been added, including a printable PDF promotional flyer.
  4. NEW - Contract price must reflect a 1% discount from an appraisal dated within 60 days of contract date (instead of the original 15% required discount).
  5. NEW - The seller or bank is NOT required to contribute to the transaction (original wording included a mandatory 6% seller contribution). However, DHCD will strongly encourage their financial assistance.

3 CEU 203K PURCHASE REHAB CLASS ADDED - To be well prepared for NSP and other purchase rehabilitation opportunities, take advantage of the additional CEU offering on Wednesday, July 22. The class is 6 - 9 pm at PGCAR. Register here >>

WHY NOT HELP HOMEBUYERS QUALIFY FOR UP TO $20,000 UPFRONT DOLLARS TO BUY A FORECLOSED HOME? - Chances are there's a foreclosed home in the neighborhoods which YOUR potential home buyers dream of owning a home in. Foreclosures are hard for homebuyers to find on their own, and usually already bargain priced.

Workforce Housing Provision Will Qualify Additional NSP Participants - Advertise this opportunity to new homebuyers and to teachers, police officers, nurses, firefighters, and to anyone moving to within 3 miles of their employment.

The Neighborhood Stabilization Program (NSP) funds are available as zero interest loans, only repayable upon re-selling of the purchased property. NO portion of NSP funds will have to be repaid if homeowners live in their house for 10 years or more.

Interested home buyers are required to attend an 8 hour, FHA/HUD approved housing counseling class. You can offer this FREE through your association with PGCAR. All classes will be held at the PGCAR Association office, and have been filling up. Please register interested buyers by calling 301-567-3330 as early as possible.

Now is the time to buy in Prince George's County!
Download the contract forms, lenders list, program details, a brochure and more in Members Only >>


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.

Wednesday, July 29, 2009
6 p.m. - 10 p.m.

At the PGCAR Atrium
8400 Corporate Drive, Landover, MD

Only $10.00!
(Pay at the door)

Please fax your reply to Marianne Bossier at 301-449-5324
or Rose Marie Jung at 301-262-4664

Click here for Flyer >>




Committee Applications are Now Open for the 2009 / 2010 Membership Year

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!

Community Service
Cultural Diversity
Holiday Party
Housing Affordability
Legislative / Political Affairs
Professional Standards
Property Management
Public Relations / Communications
Scholarship Fund

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

Committee applications are due August 1, 2009.


MAR is now accepting applications for the 2009 - 2010 Leadership Academy.

The Leadership Academy will include 8 sessions covering effective communications, organizational planning and leadership, and other critical leadership skills. The first session will be October 1, 2009 and the last - graduation day, on April 13, 2010. All applications are due by August 1st. Please be sure to indicate on the application your preferred interview date. Once received, MAR will confirm your interview date and time.

Click here for an application.



NAR has issued the attached "Legislative Analysis and Myths & Facts" on the American Clean Energy and Security Act passed in the House on June 26. There has been great concern from REALTORS® nationwide about the bill and much misinformation presented in the press. This bill is still in the early stages of the legislative process. NAR has been engaged both in the House and the Senate on this issue, and will continue to stay engaged to make sure that the best possible incentives and the least stringent requirements in the residential and commercial codes and provisions are included in the bill. We are pleased to report Prince George's County Congressional Representatives Steny Hoyer and Chris Van Hollen were VERY helpful in amending the bill into a framework that is much LESS onerous than the original draft.


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. REQUIRED DC CEU courses are offered on Thursday, July 23 and on Wednesday, August 26.

Register for YOUR choices of classes here >>


Please click here to:

  1. Login to Members Only,
  2. Click on the Form Feedback graphic, and
  3. Ask your questions on form intent or content - and to provide suggestions, changes or general feedback about PGCAR standardized forms.

They can be answered. Sometimes a form Q & A will be reviewed by legal counsel before being answered, so please expect a few days for a full response, but it really is that easy to get your questions answered. We also appreciate feedback and suggestions. Thanks for your attention!

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!

Down Payment and Closing Cost Assistance
Neighborhood Stabilization Plan
Is Now Open for Home Buyer Applications

Required Forms and Program Details in Members Only
A Down Payment on Your Dream printable marketing brochure for potential home buyers is available at as well as:
  • 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.





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.

Tuesday, July 14, 2009 5:30 p.m. - 9:30 p.m. Part 1 (4 Hours)
Thursday, July 16, 2009 5:30 p.m. - 9:30 p.m. Part 2 (4 Hours)
- - - - - - - - - - - -
Monday, July 27, 2009 5:30 p.m. - 9:30 p.m. Part 1 (4 Hours)
Wednesday, July 29, 2009 5:30 p.m. - 9:30 p.m. Part 2 (4 Hours)
- - - - - - - - - - - -
Saturday, August 8, 2009 9:00 a.m. - 5:00 p.m. Parts 1 & 2 (8 Hours)

See the entire class listing in the Newsroom or Events Schedule >>
Call 301-567-3330 to register your customers.


Increase your knowledge of the latest financing trends and details. Reverse Mortgages is offered next Tuesday and 203K Purchase Rehab next Wednesday. You can earn ALL of Your Continuing Education requirements for both the Maryland and DC license renewals right here at PGCAR -- Now that's easy!

This Friday, July 17
Home Inspections & Environmental Issues
3 DC and MD Elective CEU
Vimal Kapoor 1:30 pm - 4:30 pm

Next Tuesday, July 21
Reverse Mortgages
1.5 MD Elective CEU
Bruce Winstead 6:00 pm - 7:30 pm

Next Wednesday, July 22
203K Purchase Rehab
3 MD Elective CEU
3 DC Elective CEU
Michael Chelst 6:00 pm - 9:00 pm

Next Thursday, July 23
DC Fair Housing & Predatory Lending
3 DC Required Fair Housing CEU
Thomas Lynch 9:30 am - 12:30 pm
DC Legislative Update
3 DC Required Legislative Update CEU
Thomas Lynch 1:30 pm - 4:30 pm

Next Friday, July 24
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 >>


Registration links, deadlines and details for all PGCAR Events, Classes and Applications are on the Events Calendar. Thank you for your participation in PGCAR!


June home sales statistics for Prince George's County are Now Available at!

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 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!


Pending home sales show a sustained uptrend, rising for four consecutive months with very favorable housing affordability and the first-time buyer tax credit boosting activity. The last time there were four consecutive monthly gains was in October 2004.

NAR President Charles McMillan notes one potential complication with current appraisals. "We see that distressed homes often are selling for 20 percent less than normal homes in the same area, but some appraisals don't distinguish between traditional homes and distressed property," he said. McMillan also goes on with some potential strategies to assure an appropriate appraisal.

Read the full article, statistics and commentary by Lawrence Yun, NAR chief economist at >>


Code of Ethics Case Study: Case #1-15:
Obligation to Advise Client on Market Value

Client A went from his hotel to REALTOR® B's office and advised that he formerly lived in the community, and had kept his home as an income property after he moved away. The house had been vacant for several months and he had decided to sell it. He asked if REALTOR® B could drive him to look at it. As they inspected it, Client A stated that he would be happy to get $80,000 for it. REALTOR® B listed it at that price and after a few days it was sold to Buyer C.

Six months later, Client A was in town again. Hoping to recover a box of old photographs he had left in the attic, he called on Buyer C, whom he had met at settlement. When he arrived he found that Buyer D then lived in the house. He expressed some surprise that Buyer C had sold it so soon, and learned that Buyer D paid $140,000 for it. Astonished, Client A then made some inquiries as to the market values and learned that he had grossly under priced his house when listing it with REALTOR® B. He went to the Board of REALTORS® office and filed a complaint against REALTOR® B charging him with unethical conduct in not having advised him as to the property's fair market value.

At the hearing, REALTOR® B's defense was that he had not been asked to put a price on the house, but had accepted agency on the basis of a price set by the client; that the client had stated he "would be happy" to get $80,000 for it; that he was glad to get a listing that would move quickly in the market; that he had done nothing unethical since he had not bought it himself; and that while he had honestly pointed out to the buyer that the house was a bargain, he had made no effort to induce relatives or business associates to buy it.

On questioning, he conceded that after looking at the house with Client A, he realized the property was being listed at about half its fair market value, but insisted that was his client's business; that different owners have different reasons for selling and pricing their property, but acknowledged that Client A had not indicated that he needed a quick sale or that he would make any price concession.

The Hearing Panel pointed out that brokers have no hesitation in advising clients that properties are overpriced when this is the case, and they are obligated to be equally candid in providing their best judgment to clients when properties being offered for sale are obviously underpriced.

Based on your understanding of the Code of Ethics Article 1, how do you think the Professional Standards Panel ruled?

Find out here >>

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



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!


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.

July 13
  Ad Copy
July 15
July 23

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

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

The consumer friendly helps home buyers and home sellers find YOU, the
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  :  :  ©2008, PGCAR

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