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September 8, 2009

Special 6 CEU of Training This Friday

Register Today for Early Bird Pricing!

Broker & Manager Supervision
9:30 a.m. - 12:30 p.m.
3 MD Elective CEU

Agency Law
2:00 p.m. - 5:00 p.m.
3 MD Legislative Update CEU

Instructor: Al Monshower
Location: La Fontaine Bleu

Register for classes here >>

ONLINE VOTING IS NOW OPEN . . . and continues until 12:00 p.m. Noon on Wednesday, September 23, 2009. All primary and secondary REALTOR® members of PGCAR are eligible to vote. Before casting your ballot, please read the candidate biographies by clicking on the name of each candidate below, or by following the "Next" arrows at the top and bottom of each candidate biography page. Then click on the "Vote" check to the right. There is also a link on the Member Services home page to Online Voting.

The 2009 / 2010 Candidates are as follows:
President: Michael F. Cerrito, Cerrito Realty, LLC
President-Elect: Joanne Darling, Darling Real Estate
Secretary: Willie Rhone, Weichert, REALTORS®
PGCAR Director Candidates (4 to be elected) are as follows:
Directors: Desiree Callender, Desiree Callender & Associates
Charmayne Clark, Clark & Associates Real Estate
Pat Dowtin, GMAC Real Estate / Real Estate Service Center
James Haskins, Coldwell Banker Residential Brokerage
John Lesniewski, RE/MAX United Real Estate
Lorence "Chuck" Ottley, SellState Dominion Real Estate

To access the ballot, use the same user name and password used to enter the Members Only section.

User Name: first two letters of your first name along with your last name.
Password: now your NRDS ID.

(Example: Mary Brown: User Name - mabrown; Password - 123456789).

If you have difficulty accessing voting, please use the "Forgot your password or username?" link or contact the association office for assistance at 301-306-7900.


Prince George's County Association of REALTORS Installation Luncheon

to Learn More and Earn More!

GRI 100 Starts Wednesday, October 7
Sign up for the entire, 30 CE Series here!
(1.5 Fair Housing, 3 Ethics, and 25.5 Elective CE hours)
  red arrow Module 101: Building a Real Estate Business - Wed, October 7
  red arrow Module 102: Prospecting & Listing Techniques - Fri, October 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
Just need a few make-up classes, or want to learn in-depth knowledge of specific topics?
Sign up for individual classes by clicking class titles above.

LEGISLATIVE ALERT - August 24, 2009
Mike Graziano, Director of Government Affairs



Representatives of the Prince George's County Department of Housing and Community Development recently updated REALTORS® on the status of the County's NSP program entitled "Down Payment on Your Dream."

It was reported that approximately ten properties have settled under the program since its inception on July 1st and another forty are in the pipeline. DHCD has hired experienced underwriters, processors and title people who are specifically dedicated to closing NSP transactions. As such they are pleased to announce that they are often times closing these transactions in less than ten days. There is still $9 million in reserves dedicated for the program. This adds up to approximately 700 down payment assistance loans (scroll down for complete program details).

"Down Payment on Your Dream" is compatible with FHA, VA, and Conventional mortgages as well as 203K programs. Other programs such as CDA, Housekeys 4Employess, and Smartkeys are also eligible.

The County is doing a great job of promoting the program to the public via radio and print advertising. The program has received a lot of positive reports in the local press including the Gazette, Prince George's Post, and Sentinel as well as all major television stations including WUSA Channel 9, WRC Channel 4 and WJLA Channel 7. In fact, PGCAR Past President, Don Frederick recently spoke to Fox 5 News about the advantages of the program for first time buyers.

All of the County's advertising drives consumers to as the resource to find a REALTOR® to assist in the search for foreclosed properties. Members are encouraged to go to the "members only" section to update their member profile to take advantage of this marketing opportunity.

Click here for the most recent PowerPoint which details all provisions of the program and answers most questions. Also visit for more info and all necessary forms and guidelines. These details are also available in the "members only" section.


In June 2009, the County Council passed CB 11-2009 requiring registration of vacant or unoccupied foreclosed property. Please take note, this law affects VACANT FORECLOSED PROPERTY ONLY. The new law does NOT affect a vacant rental unit or vacant "for sale" property unless the properties are in foreclosure.

Effective since August 21, 2009, the "person authorized to make the sale" must register all vacant or unoccupied foreclosed property with the Prince George's County Department of Environmental Resources (DER) within five days of filing the docket to foreclose.

Failure to file the registration with the DER will result in a civil penalty of $50 for each day that the property goes unregistered. There is no charge to register a vacant foreclosed property.

Click here for the required Foreclosure Registration Form, or visit and click on Foreclosure Registration Form under the heading Foreclosed Residential Property Registration. The registration form can also be obtained by contacting DER's Foreclosure Registration Unit at (301) 883-6100.

For more details, please see the August 24 Legislative News.

MAR Annual Conference And Trade Show The Future is GREEN
September 14 - 16, 2009 in Ocean City, MD

This year's annual conference features

  • Up to 15 hours of CE, including GREEN-themed courses each day of the Conference
  • REALTORS® trade show, including an opening Cocktail Party, Tuesday Happy Hour and Wednesday Brunch!
  • NAR's GREEN Designation Core and Elective course with Terry Watson (additional fees apply)
  • Arrive early for Sunday night's RPAC Idol Grand Finale! 7 - 10 pm at the Convention Center. Register here >>. If attending but purchasing tickets at the door, please RSVP in advance to Kimberly Amos at or 800-638-6425.

Click Here for the Full Conference Schedule >>


Next week, September 13 - 19, also marks REALTOR® Safety Week. Every day REALTORS® are put at risk while fulfilling the requirements of their jobs. To help protect members, NAR emphasizes simple habits that REALTORS® can employ to reduce their risks on the job.

$20,000 NSP Down Payment Assistance,
$8,000 Tax Credit, Low Interest Rates . . . and More!


Fox 5 interviewed PGCAR REALTOR® Don Frederick on the many advantages and cost savings available for Prince George's County home buyers.
See the video and article here >>

This news coverage emphasizes the FREE money available to new homebuyers seeking homes in Prince George's County, and shows one of the many higher-end homes which can be bought under the "Down Payment on Your Dream" Neighborhood Stabilization Program (NSP). This foreclosed home was snapped up by a new homebuyer for 50% of its appraised value.
View the video here >>
WUSA 9 details how NSP (Down Payment on Your Dream) is reducing inventories and driving home sales. Five new homeowners settled on their new homes on the report date of August 4 alone, due to the "Down Payment on Your Dream" program.
View the video here >>

This is the best time to buy for any homebuyer in Prince George's County. Qualified buyers who want to buy a foreclosed home have an even better deal, up to $20,000 available towards the downpayment and closing costs, which doesn't have to be paid back if living in the home for 10 years.

NSP REALTOR® Resources

A Down Payment on Your Dream printable marketing brochure for potential home buyers as well as all required forms and details are available at Members Only.

There's a limited supply of professionally printed NSP Down Payment on Your Dream brochures at the PGCAR office. Brokers and office managers may pick up a supply for display in your offices while supplies last.

 YOUR Action Items:
  1. Search MRIS and create an inventory of foreclosed properties
  2. Login to Members Only for program documentation, guidelines, required forms and other helpful details.
  3. While in Members Only, update your Member profile to help consumers find you.
  4. Pre-Qualify buyers under the parameters of the income limits.
  5. Email your buyers the video links or mail them the brochure, and encourage them to attend the required 8 hour HUD approved housing counseling and financial literacy class prior to NSP application. Help them learn more about the benefits of the NSP "Down Payment on Your Dream" program for themselves.
  6. Mortgages 101 - Read the Washington Times article in below Market Sense and Stats section to read the buying process from an easy-to-understand perspective. Also attend the 3 CEU 203K Purchase Rehab class on Tuesday, September 22.

Help your clients take advantage of this great opportunity.


 HERE is the Money:

 $8,000 TAX CREDIT - 83 Days and Counting Down

The $8,000 First-Time Home Buyer tax credit is available for single buyers with incomes up to $75,000 and married couples with incomes up to $150,000 . . . but only until December 1. This tax credit, NSP funding for buying a foreclosed home in Prince George's, and low interest rates mean it's a very affordable time to buy. NAR estimates 1.8 to 2.0 million first-time home buyers will take advantage of the $8,000 tax credit this year. Help your buyers do the same.

2009 First-Time Home Buyer Tax Credit Facts >>
IRS Form 5405: Claiming the First-Time Homebuyer Credit >>
IRS Guidelines >>

 INCENTIVES FOR TEACHERS, POLICE, NURSES, FIREFIGHTERS & THOSE MOVING CLOSE TO WORK - "Down Payment on Your Dream" stimulus dollars are available to more than first-time home buyers. Teachers, police officers, nurses, firefighters, and anyone moving to within 3 miles of their employment can qualify for up to 7% of the sale price or $20,000, whichever is less. Did you know that Deputy Sheriffs and municipal police officers also save on transfer taxes when buying a home in Prince George's County?

 BEING A HOMEBUYER BUILDS WEALTH - Check out these statistics showing the change in home prices over the last ten years in the top 100 U.S. metros. Even in the midst of a recession, home values show strong growth over time.


Offer a Class to Learn and to Earn Government Funds for a Downpayment on Dream Home

Homebuyers wishing to take advantage of Neighborhood Stabilization Plan (NSP) funds are required to complete eight hours of FHA/HUD approved housing counseling. You can offer these classes FREE to the home buying public through your membership with PGCAR. 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.

Visit the Events Calendar for entire class listing >>
Only $50 for the full 8-hour required class.
Call 301-567-3330 to register your customers.

Thursday, September 10, 2009 5:30 p.m. - 9:30 p.m. Part 1 (4 Hours)
Saturday, September 12, 2009 5:30 p.m. - 9:30 p.m. Part 2 (4 Hours)
- - - - - - - - - - - -
Monday, September 28, 2009 5:30 p.m. - 9:30 p.m. Part 1 (4 Hours)
Wednesday, September 30, 2009 5:30 p.m. - 9:30 p.m. Part 2 (4 Hours)
- - - - - - - - - - - -
Saturday, October 10, 2009 9:00 a.m. - 5:00 p.m. Parts 1 & 2 (8 Hours)

PLEASE NOTE - During the coming months, PGCAR will continue to partner with HIP and HOPE to offer the NSP-required 8-hour HUD approved class for prospective homebuyers.

These classes are being offered at PGCAR for your prospective homebuyers. These classes are NOT for REALTORS® and are NOT for the purpose of soliciting customers. The students attending these classes should already be working with a REALTOR® and a mortgage company. Thank you for your cooperation.


If you missed the DC license renewal deadline, you have until October 31, 2009 to renew your license with a late fee of $50.00 at the DCREC license renewal website.

There are tutorials for Brokers and for Salespersons at the license renewal website. For any renewal technical questions or problems, please call Pearson-VUE at 1-888-204-6192 for renewal instructions, and additional details.

Until your license is renewed, you are not authorized by the District of Columbia to practice real estate in DC. If listed as DC licensed in your Member profile, please uncheck DC licensing until your license is reinstated. After license renewal, you may re-check DC state licensing at with a click of the mouse.


Earn ALL of Your Continuing Education requirements for Maryland and DC license renewal at PGCAR!
Don't miss our special offerings this Friday, September 11 or the GRI Series I !

Sign up for YOUR choice of classes here!

This Friday, September 11
Broker & Manager Supervision
3.0 MD Elective CEU
Al Monshower 9:30 am - 12:30 pm
Agency Law
3.0 MD Required Legislative Update CEU
Al Monshower 2:00 pm - 5:00 pm

Next Friday, September 17
MD Code of Ethics
3.0 MD Required Ethics CEU;
3.0 DC Elective CEU
Don Martin 9:30 am - 12:30 pm

Tuesday, September 22
203K Purchase Rehab
3 MD Elective CEU;
3 DC Elective CEU
Everett Sands 6:00 pm - 9:00 pm

Friday, September 25
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 >>


Rates for home loans edged down again last week, remaining close to record lows and attractive for people looking to buy a home or refinance. The average rate for a 30-year, fixed-rate mortgage was 5.08 percent, down from 5.14 percent a week earlier, the mortgage company Freddie Mac said Thursday. The average rate on a 15-year, fixed-rate mortgage fell to 4.54 percent, from 4.58 percent the previous week. Full article >>

Pending home sales have risen for six straight months, a sustained increase which has not seen since this indicator started being tracked in 2001. NAR Cheif Economic Lawrence Yun reports buyers are taking advantage of the $8,000 tax credit and low home values before prices turn higher. "Nationally, the typical mortgage payment now takes less than 25 percent of a middle-income family's monthly income to buy a median priced home, with payment percentages so far in 2009 being the lowest on record dating back to 1970. As long as home buyers stay within their budget, mortgage payments will be very manageable," Yun said. Learn more about the market >>

For Prince George's County, the number of settlements increased from June to July 2009 in both the single-family and condo residential markets. August statistics will be available today or tomorrow. Prince George's County market reports >>


The Washington Times gives an easy-to-understand walk through of conventional and FHA financing, appraisals, listing and selling prices, and the advantages of working with a REALTOR®.

Full article >>


Internet users are turning to search engines in dramatically increasing numbers to find what they want, with more than 113 billion searches conducted worldwide in July, a 41% increase from the same period last year, according to Internet marketing research company comScore.

Who's the search engine market leader? Still Google. Details here >>


Code of Ethics Case Study: 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, how do you think the Professional Standards Panel ruled?

Find out here >>


2010 Association dues bills have now been mailed and are also available online. All dues must be paid by November 30th, 2009 in order to prevent late charges. Log in and renew your dues at in order to save a stamp and gain a written receipt. It's quick and convenient!



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!

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.

September 14
  Ad Copy
September 16
September 24

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.

Home buyers and home sellers are using the Find a REALTOR® Directory to find PGCAR members, the experts in Prince George's real estate.

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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