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April 2, 2012

    I n   t h i s   i s s u e . . .
  • MD & DC Primary Elections - TOMORROW
  • FREE Courses - This Wednesday at PGCAR
  • First Annual 5K Fun Walk/Run is
        Less than 2 Weeks Away!
  • 2012 Scholarship Winners Announced
  • Annual Prayer Breakfast - This Friday
  • Don't Be an April Fool, Get Credit Smart!
  • Cinco de Mayo RPAC Fundraiser
  • MAR Presents: Bio Sciences in MD and the
        Impact on Commercial Real Estate
  • Rally to Protect the American Dream
  • PGCAR Education Day
    Homeownership Matters
  • Support My HOME Funding
  • Amazing Homebuyer Incentives
  • Consumer Tip: MID Myths Debunked
    The Industry Insider
  • REALTOR® Safety Tips
  • REALTOR® Safety Webinar
  • PGCAR REALTORS® - Free Facebook
        Directory Listing
  • Market Sen$e: Mortgage Rates Lower,
        Mixed Economic Indicators
  • Wanted: MAR & NAR Committee Volunteers
  • Good Neighbor Nominations
  • WCR: Prince George's Chapter - Join Today
  • Sales Coach: Seven Timeless Skills for
        Any Real Estate Market
  • DC and MD CEU
  • Code of Ethics: Case #5-1
  • Free Hands-On MRIS Training at PGCAR
  • Personal and Professional Lines of Credit
  • 2012 NAR Midyear

    Maryland & DC Primary Elections - Tomorrow, April 3

    Maryland and DC polls are open 7 a.m. to 8 p.m.
    Maryland Voters: Find your polling place here >
    DC Voters: Find your polling place here >

    Your vote holds our leaders responsible for the decisions they make and sends a message on the issues important to you. Make sure your voice is heard by casting your vote!

    View all the important MD and DC election dates on >


    TWO Classes Offered FREE to PGCAR Members - This Wednesday, April 4

    ABC's of Rentals
    3 MD Elective CEU

    This Wednesday, April 4 9:30 am - 12:30 pm

    FREE to PGCAR members ~ Space is limited, so register today >

    - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

    Creating Powerful Pricing Presentations with RPR®

    This Wednesday, April 4 2:00 pm - 4:00 pm
    Learn how to create property pricing presentations, research, and analytics
    using a FREE membership benefit.

    Sign up for this FREE informative session before it sells out >

    Both classes are at the PGCAR Association Office.


    David Maclin Memorial Scholarship Fund
    First Annual 5K Fun Walk/Run - Less than 2 weeks away!

    Are you registered for the April 14th 5K Walk/Run?
    Make a difference, be there!

    Juanita Maclin
    Juanita Maclin's video >

    Three easy steps to get local high school graduates running toward
    their dreams of a higher education and a brighter future:

    1. Register Today!
    2. Post the Registration Flyer in your office lobby, in your community, and at local stores.
    3. Fundraise with the Runner Sponsor Form and have your friends, family and neighbors add their support.

    David Maclin Memorial Scholarship 5K Run Walk
    DATE:   Saturday, April 14
    TIME:   9 - 11:30 am 5K Fun Walk/Run
    8 - 8:45 am Registration & Packet Pickup
    LOCATION:   Marlboro Ridge Club House
    COST:   $25 - Adult (extended until April 6)
    $30 after April 6 and Race Day!
    $5 - children under 12

    Congratulations to our 2012 David Maclin Memorial Scholarship Winners!

    The Prince George's County Association of REALTORS® is proud to announce this year's recipients of the David Maclin Memorial Scholarships.

    Tolulope Oluwakorede Adetayo, Charles Herbert Flowers High School
    Alleyah Miner, Oxon Hill High School

    Tolulope will be attending the University of Maryland, and Alleyah will be attending Lafayette University. Both will receive $2,500 toward their expenses.

    Since the inception of the David Maclin Memorial Scholarship Fund, over $30,000 has been awarded to Prince George's County High School Seniors to further their education. Thank you to everyone who helps and contributes! Help encourage and empower our next generation by joining us Saturday, April 14 >


    You are Invited to the Women's Council of REALTORS®
    34th Annual Prayer Breakfast - This Friday, April 6

    All Things are Possible!
    Annual Prayer Breakfast

    Good Friday, April 6
    8:00 am Registration * 8:30 am Breakfast / Program
    Toll Brothers Clubhouse
    11401 Marlboro Ridge Road, Upper Marlboro, MD

    Guest Speaker: Pastor William A. Spence II of Harvest Life Fellowship

    Invite your family and friends to join us as we meet and fellowship with co-workers and associates to give thanks together on Good Friday.

    All REALTORS®, Affiliates and Guests are Welcome!

    $25.00 Donation
    Please register in advance at >

    $150 Donation
    Sponsorship opportunities are also available (includes 2 tickets and recognition in program).
    Become a Sponsor online at or contact Kelli Baxter at


    Don't Be an April Fool, Get Credit Smart!
    In Just Two Days of Training Become WHC Certified

    Workforce Housing Certification
    CreditSmartTM next Thursday, April 12
    3 Classes in 1 Day (6 CEU) on Thursday, April 19
    9 am - 4 pm each day
    PGCAR Association Office, 9200 Basil Court, Largo, MD

    Become WHC certified - Only 2 days of training required.
    Each full day of training is only $25 for members!

    Next Thursday, April 12 - CreditSmartTM
    This is a "Training for Trainers" program with a comprehensive curriculum that will prepare you to educate consumers about getting and maintaining good credit, credit scoring and money management towards achieving their financial goals. Any prior CreditSmartTM certification is counted toward WHC.   Register >

    Thursday, April 19 - 3 Classes in 1 Day: Bridging the Gap from Availability to Affordability, State and Local Programs, and Federal Programs and National Initiatives
    A full day of training that will teach you about a variety of grants and programs - including ones that can help first-time homebuyers, government resources, and specialty programs (HUD, FHA, VA).   Register >

    Cinco de Mayo RPAC Fundraiser

    What could be more fun than enjoying:

    Networking with fellow REALTORS® and local and state legislators
    Texas Hold 'em * Cocktails and Hors d'oeuvres * Silent Auction * Door Prizes
    Best/most unique Mexican outfit contest ...

    ...all while receiving a credit toward your RPAC contribution and
    supporting the future of homeownership?


    Grab your tickets today!
    - or -
    Have your company recognized by becoming a sponsor today!

    Printable Registration Form >     Printable Sponsorship Form >

    Find out more about RPAC and the important work they are doing.


    MAR Presents: Bio Sciences in MD and the Impact on Commercial Real Estate
    Earn 3.0 CE Hours (1.5 Professional Enhancement, 1.5 Legal/Legislative)

    Thursday, May 3
    8 am - 12:15 pm
    Four Points by Sheraton BWI
    7032 Elm Road, Baltimore, MD

    Open to All Real Estate Practitioners

    Learn about emerging trends in employment in Bio Sciences and the 2012 Legislative Session, and their impact on Commercial Real Estate.

    Details and Registration >


    Rally to Protect the American Dream!
    RSVP to Rally on Capitol Hill May 17

    On May 17, from 9:30 a.m. to 11 am, during the NAR Midyear Legislative Meetings, we are going to show that no one cares more about defending the benefits housing and real estate provide to our country than Prince George's County REALTORS®.

    NAR will be taking care of everything (the sign up, logistics, transportation, lunches, water, t-shirts, and more). All you have to do is register and show up.

    We know it is a busy time of year and you do a lot to contribute already. But we are asking you to join forces with thousands of other REALTORS® to rally and protect the American Dream of home ownership.

    Giving this one morning of support can help ensure a great future for real estate!

    Details and RSVP at

    Tuesday, May 22
    at La Fontaine Bleu
    Earn 6 CE hours for MD and DC Continuing Education
    • Contracts
      3.0 CE, MD & DC Elective Hours
      Instructor: Stu Stern
    • MREC Required Supervision
      3.0 CE, MD Required "I" Hours
      Instructor: Al Monshower
    • MD Code of Ethics
      3.0 CE, MD Required "D" & DC Elective Hours
      Instructor: Jill Pogach Michaels
    • 203K Purchase Rehab
      3.0 CE, MD Elective Hours
      Instructors: Michael Chelst / M. Gamble
    • DC Fair Housing
      3.0 CE, DC Required Hours
      Instructor: Prabhjit Singh
    • MD Legislative Update
      3.0 CE, MD Required "A" & DC Elective Hours
      Instructor: Al Monshower
    • MREC Agency-Residential
      3.0 CE, MD Required "H" Hours
      Instructor: Fredericka Lloyd
    • Short Sales
      3.0 CE, MD Elective Hours
      Instructor: Jill Pogach Michaels

    Terrific Courses & Instructors

    Choose One Morning and
    One Afternoon Class

    Breakfast, Lunch and
    Our Famous
    Ice Cream Social

    All for Only
    $75 Members
    $100 Non-Members


    Click here for a printable flyer.


    Support My HOME Funding
    The My HOME Office Needs Your Help!

    Do you have listings which First Time Homebuyers could buy with My HOME down payment and closing cost assistance? If so, please email with the city and sales price of the listed property.

    Do you know buyers who are preapproved but not submitted to the My HOME Program yet? If so, please have the lender submit the buyers' names and estimated funds needed to

    Please hurry! This information will be used in funding projections for this extremely valuable Prince George's County Homebuyers program. Thank you!!

    1. Buy Suitland Initiative - Civic Employees and Incomes up to 120% AMI are eligible. Details >

    2. Federal Home Loan Bank of Atlanta (FHLB Atlanta) - 2 new programs - The first offers up to $15,000 towards a foreclosure purchase. The second offers up to $7,500 to homebuyers earning up to 80% AMI and buying within NSP targeted areas in MD or DC. These two programs do NOT require you to be a first-time homebuyer.
      Consumer information page >   Details & webinars for REALTORS® >

    3. My HOME - provides up to 5% of the home sale price in Down Payment and Closing Cost Assistance to County Homebuyers who have not owned a home within the last 3 years. See details at or the County website. Even more details in Members Only >

    4. Centex Offers Additional Savings to My HOME Program - The My HOME program has established a relationship with Centex Homes. Your homebuyer can buy a Centex Home in the Victory Promenade development (behind FED EX Field) with My HOME funds and get seller assistance too. They have units that are standing and ready within 30 days. For more information or to schedule a time to view these homes, please call (301) 350-5875 or email Jennifer Eaddy.

    5. American Dream Downpayment Assistance (ADDI) - up to $10,000 to County Homebuyers who have not owned a home within the last 3 years. Details >

    6. The Maryland Mortgage Program (MMP) offered through the state's Community Development Administration (CDA) has announced 2 loan products for distressed properties. All MMP products have low, fixed interest rates and some offer matching funds. These 2 new products will assist in revitalizing communities burdened with foreclosed and rundown properties.
      The Acquisition / Rehabilitation Mortgage Program helps purchase a single-family home as a primary residence and obtain funds for needed repairs and renovations.
      The Homeward Bound Program offers eligible buyers of foreclosed or short sale property at a lower rate mortgage.
      Program Details >
      April 17 3 CEU Training Details and Registration >

    7. Freddie Mac HomeSteps SmartBuySM program offers a limited FREE two-year HomeProtect® Home Warranty and up to 30% savings on new appliances.

      Home Listings and incentive details are at >
      Sign up for buyer leads >

    Most of these programs can be used in combination. Information on these and other homebuyer savings are available at Sales agents - please study up and stay familiar with current homebuyer incentives and send links to your contacts from these public information pages. For more My HOME program details, members can login to Members Only.


    Consumer Tip: MID Myths Debunked

    If anyone thinks losing the Mortgage Interest Deduction isn't such a big deal, here are a few facts that will show you the cost is even bigger than you would imagine.

    MYTH: The MID is just for rich people.

    FACT: The MID helps mostly middle- and lower-income families. Only 9% of families earn over $200,000 per year (the number where economists distinguish between rich and middle class); and 65% of families who use the MID earn less than $100,000 a year.

    MYTH: Not many people take the MID.

    FACT: Out of the 75 million American home owners, 38.5 million take the MID. A typical benefit for homeowners is $3,050 a year. The MID is also a key benefit to first-time home owners and trade up buyers.

    MYTH: Getting rid of the MID won't affect me.

    FACT: It will lower property values for all home owners, including the 1/3 who own their houses and the 12 million who take the standard deduction. Even if you don't have a mortgage, it will affect how much house you can buy and how much someone will pay for your home.

    MYTH: Solving the U.S. budget problems requires everyone to do their part.

    FACT: Homeowners already pay 80 to 90% of the federal income tax collected. If the MID benefit goes, that number could go as high as 95%.

    To read more MID Myths, go to >


    REALTOR® Safety Tips
    Information to Keep You Protected

    The mere nature of the real estate business puts REALTORS® at risk on a daily basis. Unfortunately, when agents are rushing to get ready for a showing or if they get overly excited about a new lead, safety tends to take a back seat.


    1. Identify the buyer/seller/agent BEFORE you join him/her alone in a car or a house (get a copy of his/her driver's license).
    2. Always carry your cell phone, program 911 into speed dial, and don't hesitate to call for help.
    3. Trust your instincts.

    PGCAR is so dedicated to the importance of this issue that we now have a REALTOR® Safety Page.
    Please continually check back to see updated information.


    Every Agent's Five-Step Plan for Open Houses

    Annual Prayer Breakfast Thursday, April 19 @ 11 am
    FREE to all Agents!

    Learn the warning signs of a potentially dangerous situation, the safe way to conduct an open house and listing appointment, and how to safely work foreclosed properties.

    Safety Webinar details & registration >


    PGCAR REALTORS® - Get Connected Today!
    Sign Up for the Real Estate Agent Directory at www.facebook/pgcar

    Facebook Logo PGCAR's Facebook page has a new feature highlighting our REALTOR® members! The Find a REALTOR® Directory is used by a number of homebuyers. Now there's an additional, new Find a REALTOR® added to

    Facebook users can search for REALTORS® via this link, based on location and area of expertise. Before connecting to a REALTORS®' page, consumers can view your profile snapshot. So increase your visibility. Add yourself to the Facebook REALTORS® Directory! This is another FREE service!

    Sign up today at!

    1. Click on the "Find a REALTOR®" link in the left-hand column.
    2. Then click on the "Agents Only" link above the directory.
    3. Next, click on the "Go to App" button under "Ready to get started?"


    Market Sen$e: Mortgage Rates Lower with Mixed Housing & Economic Indicators

    Results released on March 29 are showing mortgage rates down across the board, with the 30-year fixed-rate mortgage dipping just below 4.00 percent for the week. Frank Nothaft, vice president and chief economist of Freddie Mac, states, "Mortgage rates slid this week amid weaker housing economic indicators. The S&P/Case Shiller® 20-City Composite home price index slid in January to its lowest reading since December 2002. In addition, new home sales declined 0.5 percent in February, below the market consensus of an increase, and pending existing home sales also declined for the month." Reviewing the multiple statistics and indices, generally economic and housing indicators are improved from 2011 to 2012, down from January 2012 to February 2012.

    Freddie Mac reports the following averages for the week ending March 29, 2012:

    • The 30-year fixed-rate mortgage averaged 3.99 percent, down from 4.08 percent.
    • The 15-year fixed-rate mortgage averaged 3.23 percent, down from 3.30 percent.
    • The 5-year Treasury-indexed hybrid ARM averaged 2.90 percent, down from 2.96 percent.
    • The 1-year Treasury-indexed ARM averaged 2.78 percent, down from 2.84 percent.
    Freddie Mac's Weekly Primary Mortgage Market Survey >


    WANTED: MAR and NAR Committee Volunteers

    Committee descriptions and a volunteer form are now online at All MAR members are encouraged to apply for 2 but no more than 3 preferred committee choices. Some committees have specific requirements; however, every attempt will be made to accommodate your request for at least one committee assignment. Committee selections are prioritized by qualifications and date received.

    Reminder: Current MAR committee members must re-apply for 2012 - 2013 MAR Committee Memberships.

    MAR Applications Due By Wednesday, May 9 >

    2013 NAR Committee Recommendations

    NAR committee recommendations are also open (login required).
    Nominations are due by Friday, May 25. Self nominations are encouraged.

    NAR Committee Details and Nomination Form >


    REALTOR® Magazine Seeks Good Neighbor Nominations
    Five Winners will Receive $10,000 Grants and National Publicity

    REALTOR® Magazine is seeking nominees for the 2012 Good Neighbor Awards. The program recognizes REALTORS® whose extraordinary commitment to community service has helped make their communities better places to live. Five winners will be announced in the November/December issue of REALTOR® Magazine, will be recognized at the 2012 REALTORS® Conference in Orlando, and will receive a $10,000 grant for their charity - along with additional publicity, prizes and benefits.

    If a REALTOR® you know is putting forth the effort to make a difference in the community, help their cause by nominating them today!

    Deadline for entry is Friday, May 18. Click here for more details. Click here for rules and an entry form.


    Women's Council of REALTORS®
    Prince George's Chapter - Join Today

    We are a network of successful REALTORS® empowering women to exercise their potential as entrepreneurs and industry leaders. Through our influence as successful business professionals, the women and men who are members of WCR will effect positive change in the profession and in the broader community.

    Join the Prince George's Chapter by signing up today!

    Click Here for More Information >


    Sales Coach: Seven Timeless Skills for Any Real Estate Market

    Home Sales Coach No matter what is happening with the economy or how your market is performing, your chances of success will increase greatly when you master these essential underlying skills.

    Meet New People

    Whether by phone, online or in person, the more new people you are meeting and connecting with, the better chance you have of gaining a new client.

    Make a Personal Connection

    People buy from people they like and trust. Telling a client something that is in their best interest, though it may not be in yours, shows them that honesty is more important than anything to you.

    Follow Up on Every Lead

    Working every lead until it closes or is no longer a lead is critical to keep your business constantly producing. Keep all lead information in one place, and be sure to continue to update and contact them on a regular basis.

    Ask for What You Want

    Don't wait for people to call you, for clients to say they're ready, or for buyers to tell you what house they want. Ask for the appointment, ask for the sale, and ask for the number of a referral. The best way to get what you want is to be direct.

    Set Appropriate Expectations

    Know what the reasonable timeframes are, and don't make promises you can't keep. Make decisions immediately and decisively, so the client never has to wonder or worry about what is happening.

    Take Care of Details

    You must treat your business like a business and make sure that there is a system in place to keep you organized. Make sure deadlines are met, appraisals are ordered, appointments are kept and problems are solved.

    Pay Close Attention to the Money

    If you don't focus on the money, you're not going to make any. Make sure you are adequately compensated for all of your work, so that you are not working too hard and not making what you deserve.

    Technology, industry regulations, buyer/seller priorities and economic conditions are constantly changing. However, constantly honing and practicing the above skills will always put you ahead of the game.

    Read the entire article here >


    Earn All MD and DC Required CEU at PGCAR

    All classes are held at PGCAR offices, just off the Route 202 / Landover Road exit of I-495. Find our NEW association office at 9200 Basil Court, Suite 400, Largo, MD 20774. There's plenty of parking.

    This Wednesday, April 4
    Both Wednesday Classes are FREE to PGCAR Members!
    ABC's of Rentals
    3.0 MD Elective CEU
    Rayna McLendon 9:30 am - 12:30 pm
    Creating Powerful Pricing Presentations with RPR®

    Win Singleton 2:00 pm - 4:00 pm

    Next Monday, April 9
    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

    Next Thursday, April 12
    Workforce Housing Certification: CreditSmartTM
    Required for Workforce Housing Certification
    9:00 am - 4:00 pm

    Monday, April 16
    MD Code of Ethics
    3.0 MD Required Ethics CEU;
    3.0 DC Elective CEU
    Don Martin 1:30 pm - 4:30 pm

    Wednesday, April 18
    MREC Agency-Residential
    3.0 MD Required or elective CEU
    Fredericka Lloyd 9:30 am - 12:30 pm

    Thursday , April 19
    Workforce Housing Certification:
    Three Classes in One Day!

    6.0 MD Elective CEU
    9:00 am - 4:00 pm

    Monday, April 23
    MREC Required Supervision
    3.0 MD Required or Elective CEU
    Don Martin 1:30 pm - 4:30 pm

    Complete CEU Schedule >>


    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 >>


    Free Hands-On MRIS Tools Training at PGCAR

    XactSite 201 Next Tuesday, April 10, 9:30 am - 12:30 pm
    Customization and rDesk for the Intermediate XactSite User: Introduction and training to further customize your personal marketing & branding efforts.

    MRIS 201 Next Tuesday, April 10, 1:30 pm - 4:30 pm
    Maximize your Productivity with MRIS: Introduction to tools and features you receive as an MRIS customer designed to save you time and money.

    RealtyTrac 101 Monday, April 16, 9:00 am - 11:00 am
    The State of the Foreclosure Market: Training to help real estate professionals work more effectively with distressed homeowners and properties in foreclosure.

    Visit for details and registration. Advance registration with MRIS is required.


    REALTORS® Federal Credit Union
    Personal and Professional Lines of Credit

    Whether you're consolidating higher interest debt, investing in home or business improvements, spreading tuition or annual dues payments, or simply opening a line of credit "just in case", you can cover it with a REALTORS® Federal Credit Union line of credit or personal loan.

    Apply for personal or professional loans and find out more about great offers here >


    2012 NAR Midyear Legislative Meetings & Trade Expo

    The REALTORS® Midyear Meetings & Trade Expo is where NAR members come together to take an active role in advancing the real estate industry, public policy, and the association. There will be a variety of meetings and events including: special issues forums, committee meetings, legislative activities, the industry trade show, and a Rally on Capitol Hill.

    Meetings:   May 14 - 19
    Capitol Hill Visits:   May 16 - 17
    Trade Expo:   May 16 - 17

    For more information, to plan your Midyear Schedule, and to register click here.

    Prince George's County Association of REALTORS®
    8300 Corporate Drive, Suite 100  :  Landover, MD 20785
    Phone 301-306-7900  :  Fax 301-306-8273  :  :  ©2012 PGCAR

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