|June 25, 2012|
New and Updated Forms
Released June 18
The following four forms were added or updated last Monday. Please destroy all older versions of Form PG 1331 and begin using the new and updated forms immediately. Visit PGCAR Members Only to download all current forms.
Upcoming CRS Training
Two Classes Still Available for 50% Off Offer
This Wednesday, June 27, 2012, 8:00 am - 4:30 pm
Tuesday, October 23, 2012, 8:00 am - 4:30 pm
Note: If you already attended the June 8 class, It's a Price War to the Door,
Visit the CRS website for more details.
Recordation Tax Rate Increase Alert
Effective July 1
The County Recordation Fee increases to $2.75 (per $500 in home sale price) effective Sunday, July 1, 2012. All settlements taking place on or after July 1, 2012, will be charged the new recordation tax rate regardless of when the contract was negotiated.
Two Special PGCAR Award Nominations
Due Next Friday, July 6 @ 5 pm
2012 Affiliate of the Year
Which one of our many distinguished affiliates will be named the 2012 Affiliate of the Year? Please nominate yourself or one of our many active Affiliate members. We appreciate you and your contributions to PGCAR!
Affiliate of the Year Nomination
Any licensed sales agent or associate broker holding REALTOR® membership is eligible for consideration. Candidates must have not held an active broker's license any time during 2012 and may not hold any percentage of ownership in the firm they represent. Managers, owners and salaried officers are not eligible to enter this competition.
There are three standards used in the selection process:
LOCAL BOARD / ASSOCIATION ACTIVITY (50%)
Please fill in details under each of the three standards and submit your entry
Distinguished Sales Associate Nomination
SELF NOMINATIONS FOR BOTH AWARDS ARE HIGHLY ENCOURAGED!
Nominations must be received by 5 pm on Friday, July 6, 2012
2012 MAR Annual Conference & Trade Show
Early Bird Rate Ends Sunday, July 15
OCEAN CITY, MD SEPTEMBER 10 - 12
Member Early Bird Rate $195
Rookies in the business for 4 years or fewer save an extra $50
Come Ride the Wave with your fellow REALTORS® at the Maryland Association of
Three Days of CE Classes Exciting Trade Show Sunday Golf Tournament
Register Here Conference Homepage Hotel Information Schedule (PDF)
FREE Maryland Mortgage Program Workshop
Tuesday, July 17 8:30 am - 11:30 am
Maryland Department of Housing and Community Development
New to the Community Development Administration (CDA)? Need a refresher course? Want to meet CDA staff? Have some questions? In this workshop you will learn from the CDA staff on how they do business and hear about new developments in the Maryland Mortgage Program - including the new $30 Million Targeted Areas Initiative.
RSVP is required, and 3 Elective CE hours will be earned for MD Real Estate licensees.
2012 - 2013 Leadership Academy
Applications Due Wednesday, August 1
Improve your leadership and communication skills. Meet and learn from other industry leaders, and our future leaders. MAR Leadership Academy is a rare opportunity for training in organizational leadership and communications. Apply for the upcoming October 4, 2012 through April 16, 2013 sessions.
Hurry! Applications are due Wednesday, August 1, 2012.
Details and application >
FREE Foreclosure Prevention Workshop
Presented by U.S. Congresswoman Donna F. Edwards
Saturday, July 21 9 am to 2 pm
Fort Foote Baptist Church
8310 Fort Foote Road, Fort Washington, MD 20744
There are still too many foreclosures in Prince George's County. In this workshop, you can meet with loan servicers, learn how foreclosures can be prevented, speak with housing counselors and attorneys, and find out how Maryland's foreclosure prevention laws affect you.
Help is available, so please pass this information on to your customers, family members, and anyone who you think may benefit from this workshop.
Pre-register online by July 18 >
To pre-register for a FREE legal consult with an attorney, call the Pro Bono Resource Center of Maryland.
Consumer Tip: Five Projects to Increase Sales Value
According to HomeGain's 2012 National Home Improvement Survey, you don't have to spend a fortune to increase the sales value of your home by more than $10,000. Do-it-yourself projects are cost-effective ways to increase your chance of selling faster and closing closer to the asking price than homes with no improvements. The top five low-cost DIY projects are:
Click here for more pricing and selling tips >
Don't Miss Out On Emails and Newsletters!
White List pgcar.org and pgcar.com
Please make sure you're receiving all of our newsletters and emails. It's as easy as white listing pgcar.org and pgcar.com. Instructions - as well as information on updating your email address - are located in the Members Only Section. In addition to providing email and white list instructions, the Members Only Section contains a wealth of information and resources, including downloadable contract and listing forms, the latest legislative news, your online order history, and more.
Keep current by visiting often!
Market Sen$e: Fixed Mortgage Rates Drop Slightly
Results released last Thursday, June 21 show that the average mortgage rates eased amid worsening economic indicators (30-year fixed-rate was down to 3.66 percent while the 15-year fixed-rate dropped to 2.95 percent). Frank Nothaft, vice president and chief economist of Freddie Mac, states, "Treasury bond yields eased somewhat this week on some worsening economic indicators bringing mortgage rates back into record low territory. Industrial production fell in two of the last three months ending in May, and below the expected market consensus forecast. In addition, consumer sentiment fell in June to its lowest level this year, according to the University of Michigan survey. In its June 20th monetary policy announcement, the Federal Reserve also noted growth in employment has slowed in recent months and household spending appears to be rising at a somewhat slower pace."
Nothaft noted some positive indicators as well, "... Construction on one-family homes rose for the third consecutive month in May to an annualized pace of 516,000. Furthermore, homebuilder confidence rose in June to its highest reading in over five years."
Freddie Mac reports the following averages for the week ending June 21, 2012:
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May Home Sales for Prince George's County:
The condo market enjoyed another monthly increase from April to May in contracts and settlements. Contracts increased 8.0% and settlements increased by 2.8%. Year-to-date condo contracts are up 12.2% and condo settlements are down 6.3%, still showing the effects of slower lending.
See detailed statistics for May 2012 at www.pgcar.com/stats >
To be the first to see home sale statistics when they're released, like us at www.facebook/pgcar. While you're there, add yourself to the Find a REALTOR® Directory to give homebuyers and sellers yet another way to find you.
Senate Passes 60-Day NFIP Extension
On May 30, 2012, the House of Representatives passed a 60-day extension of the National Flood Insurance Program (NFIP). This temporary extension enables the Senate to act on the NAR supported 5-year reauthorization and reform bill before the end of July, when it is due to expire again. The short-term extension bill was being held up by Senator Tom Coburn (R-OK) who threatened to let the NFIP shut down yet again, unless his demands were met regarding federal tax dollars subsidizing vacation homes.
The compromise now in place prevents a potentially catastrophic lapse of the NFIP for both the short and long-term. Flood insurance is required by law to obtain a mortgage in more than 21,000 communities nationwide. A lapse would have affected 1,300 transactions a day or nearly 40,000 a month, a potentially devastating blow to the nascent market recovery. NAR will continue to work with our Congressional allies to minimize the impact of this provision as the legislative process moves forward. Learn more >
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.
Sales Coach: Easy Answers for Tough Questions
As a REALTOR®, you're required to give your client an honest, forthright answer for almost any question they can come up with - oftentimes at a moment's notice. Be prepared by reviewing some of the most common buyer /seller inquiries on the Quick Sales Scripts page at realtor.org. These responses - written by REALTORS®, coaches and trainers - take on some of the more difficult questions and provide answers that will not only satisfy your client, but will help you stand out from your competition.
They Say: "We appreciate your interest, but we want to list with a friend."
You Say: "I think your loyalty to your friend is admirable. But what about your family? Most people have the bulk of their net worth tied up in their home, so don't you owe it to your family to get the best negotiator so you can get the best price? The average real estate pro in this market gets X percent of the list price and I get Y percent because I am a better negotiator. That's money in your pocket. And even in this market, I never leave any money on the table. In addition, you will have peace of mind knowing you can fire me at will without ruining a friendship. As a friend, they will want what is best for you - not what is best for their pocketbook."
REALTORS® Federal Credit Union
Why Join REALTORS® FCU?
It's the 24/7 credit union designed for your unique needs as a REALTOR®!
Join Online > It only takes 15 minutes!
Free Hands-On MRIS Tools Training at PGCAR
Keystone 101: Entering Listings Correctly, The Key to a Fast Sale July 31, 9:30 am - 12:30 pm
Visit www.mris.com/training for details and registration. Advance registration with MRIS is required.
PGCAR Membership Application - Join Us!
Are you a new agent? Please download, print and use the 2012 membership application at www.pgcar.com >
For any returning agents who did not pay 2012 dues, please renew online and pay the reinstatement and late fees to regain SentriLock access. If your online access is no longer active, please call the office at 301-306-7900 to renew.