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October 29, 2013

    I n   t h i s   i s s u e . . .
  • Annual Legislative Breakfast
  • Crayons and Supplies Drive for
        Elementary School Children
  • PGCAR Red Cross Blood Drive
        Makes the News!
  • Annual Charity Event - December 11
  • 2013 NAR Annual Conference - Next Week

    Homeownership Matters
  • My HOME Program Re-Opens
        - Funding for Up to 300 Homes
  • New Law May Help Ease Refinancing
        Challenges for Homeowners
  • Homebuyer Incentives in Prince George's County
  • Consumer Tip: Finding the Fungus
        Among Us
    The Industry Insider
  • New State Sales Contract
        - Download All 36 Updated Forms
  • Contract Forms Alert - New County Lease and
        Addendum Effective Immediately
  • SentriLock Tip: Listing in Multiple Regions
  • 2014 PGCAR Dues
  • 30 Under 30 Application
  • Earn Your MD and DC CEU at PGCAR
  • Sale!  Only $11 for 1.5 CEU; $18 for 3 CEU
  • Market Sen$e: Downward Movement
        in Fixed Mortgage Rates
  • September Continues Recent Trend:
        County Home Settlements Rise
  • Sales Coach: Be Known as an Authority
        to Increase Success
  • Code of Ethics: Case #5-1
  • Free Hands-On MRIS Training
  • Enjoy BIG Savings on Closing Costs!
  • SentriLock Lockbox Sale

    Thursday, November 21, 8 - 11 am at Martin's Crosswinds

    Please make it a priority to attend the Annual Legislative Breakfast on Thursday, November 21, and hear our Keynote Address Speaker, County Executive Rushern Baker. We will also hear from State Senator Douglas Peters (Chair of the Prince George's County Senate Delegation) and State Delegate Jolene Ivey (Chair of the Prince George's County House Delegation, and Candidate for Maryland Lieutenant Governor).

    Register today for this extremely rare opportunity to have our legislative leadership from the County, Annapolis and Washington, DC at one event.

    Every day, our legislators make decisions that impact homeownership, commercial and residential development, and the economy of our County and State. You can meet and talk with your elected officials, become more informed about today's issues, and show the strength of the PGCAR Community.


    Registration is only $25 per person, and includes a full breakfast.

    Register today at >

    Share the flyer >


    Crayons and Supplies for Elementary School Children

    Crayons and Supplies An elementary school class that participates in the annual poster contest, doesn't even have the money for crayons this year. Most of us can't imagine children without crayons. If they don't have crayons, what else don't they have?

    Please help a small bit, to impact at least this classroom in a BIG way! Please drop off new boxes of crayons at the PGCAR office, or donate at to buy crayons and other supplies for these precious children. They're our future!

    PGCAR Makes the News!
    Thanks to everyone who makes our blood drives a success. Prince George's Community Television visited the blood drive at PGCAR Thursday, October 10. We're featured on their daily news! View the entire segment, or skip ahead to minute 4:40 of the October 10 video on their Facebook page.

    The next Red Cross Blood Drive at PGCAR is Thursday, December 19. Please join us in saving lives!


    Bring your entire office! Save by purchasing 10 tickets for $250 >
    (and it's tax-deductible as a charitable donation)

    Help to make the holidays bright for Prince George's County families in need. Register for our Annual Holiday Charity Event, and your tax-deductible donation* will provide much-needed food for local families. At La Fontaine Bleu on Wednesday, December 11 from 6 to 10 pm, you will enjoy fun, food, entertainment, networking, and dancing (what's not to love about that?).

    *Donations are only
    $30 per ticket and $250 for 10 tickets
    before December 1;
    $35 per ticket starting December 1.

    For details or to register, go to >

    View photos from the December 12, 2012 Winter Wonderland event >

    Click here to sponsor the Holiday Enchantment Gala >

    Food and coat donations are also gratefully welcomed until December 12
    - either at the PGCAR offices or at the event itself.

    Thank you for your generosity! This is truly the kind of giving that gives back!


    My HOME Program Re-Opens to Applications
    Funding Gained for Up to 300 Homes!

    The Prince George's County Department of Housing and Community Development's (DHCD) My HOME Program is once again open for new applications. They have committed funding for over 300 down payment and closing costs assistance loans, making the American Dream of homeownership possible for many low and moderate income buyers.

    Some preliminary details are available at the Redevelopment Authority's My HOME Program website. You may call the Redevelopment Authority at 301-883-5456 for program details.


    That's right! 36 Maryland contract forms and addenda have now changed. The following 3 have significantly changed.

    See all of the updated forms at In addition to the substantial changes due to new regulations and laws, all MAR addendum are now fillable PDFs!

    See details and practice tips for the revised forms here, or linked from >

    Revised and New Contract Forms Already in Effect
    Forms are Online at Both and ZipForms

    Alvin C. Monshower, Jr., Association Counsel

    The current PGCAR Single Family Dwelling Lease (PGCAR Form 1105, Rev. 9/13) (the "PGCAR Lease") has been substantially revised from the October 2011 version. In particular, Section 3 of the current PGCAR Lease has been revised to specifically address the requirements of the Prince George's County Code with respect to rental security deposits.

    In consideration of the final revisions to the PGCAR Lease and its re-posting and dissemination, you should consider the following recommendations:
    1. Remove from your current inventory all prior versions of the PGCAR Lease, including such inventory as stored by hard copy or digitally.
    2. In the event you are a property manager or person leasing property which utilized the PGCAR Lease with the revision date of "10/2011", attached you will find an addendum which you are encouraged to have the tenant sign should your lease be expiring in the next thirty (30) days.
    3. If you are a REALTOR® member and are presently involved in negotiating a Residential Dwelling Lease, and if the property is located in Prince George's County, you should utilize the attached addendum to any current lease form which you use or which your company provides (other than the revised PGCAR Single Family Dwelling Lease revised 9/13).
    Should you have any questions or require additional clarification, please contact Mike Graziano, PGCAR Director of Government Affairs at 301-306-7900 or

    County Rental Security Deposit Law Differs From State Law

    PGCAR Form 1105 - Revised September 6, 2013
    Prince George's County Single Family Dwelling Lease

    PGCAR Form 1108 - Added September 6, 2013
    Addendum to the Prince George's County Single Family Dwelling Lease


    New Law May Help Ease Refinancing Challenges for Homeowners

    A new Maryland law may help homeowners to refinance their mortgages despite having a second (or junior) lien. The Refinance Mortgage - Priority over Junior Liens Bill, signed into law by Governor O'Malley on May 2, went into effect on October 1, making it possible for homeowners to refinance first mortgages at a lower rate of interest without securing consent from a current mortgage lender with a subordinate lien.

    In refinancing a first mortgage, the real property's lien of record is released and the refinance mortgage lien becomes subordinate to other mortgages of record because recording order dictates priority. Usually, a refinance requires that a subordinate mortgagee will agree to remain in its subordinate lien position, but that negotiation can mean lost time, value, money, and opportunity.

    The new Act eases the burden of that agreement by providing that upon recordation, a qualifying refinance mortgage will bear priority equal to the mortgage or deed of trust that it replaces.

    To qualify, refinance mortgages must:
    • Secure the refinancing of the loan that was secured by the first mortgage or deed of trust;
    • Secure residential property in addition to refinancing a mortgage that secured residential property, as defined in the Act;
    • Refinance for the mortgagor the entire unpaid indebtedness secured by the first mortgage;
    • Not exceed the amount of the first mortgage's unpaid outstanding principal balance plus a maximum of $5,000 for closing costs.
    • Not exceed $150,000 in the principal amount secured.
    Source: Maryland Department of Housing and Community Development

    1. College Park Live Smart Program
      Up to $5,000 in Homebuyer Incentives!
      College Park's program highlights affordability and convenient location to encourage home sales in the community, offering up to $5,000 in incentives to home buyers. Program details >
    2. Homebuyer Savings for City of Laurel
      Buyers of foreclosed homes receive tax credits. The program offers a five-year descending City tax credit of up to $3,500 for buyers purchasing their primary residence within Laurel City limits.
      Program Details >
    3. $30 Million Targeted Areas Initiative for All Homebuyers
      First-Time Homebuyers Can Gain Same Benefits in ANY Prince George's County Area

      Reduced interest rates starting at 2.875% (APR 3.675%) for qualified homebuyers purchasing a new primary residence. Program Details >
    4. Buy Suitland Initiative
      $40,000 Maximum in Downpayment & Closing Cost Savings!
      Up to 5% of home purchase price to first-time homebuyers or those who haven't owned within the last 3 years; Up to 7% for local civic employees. Program Details >   Revised Buy Suitland Flyer >
    5. Federal Home Loan Bank of Atlanta (FHLB Atlanta)
      Up to $15,000 toward a foreclosure purchase; Up to $7,500 toward the purchase of a property located in area approved for NSP funds.
      Program Details >
    6. American Dream Downpayment Initiative (ADDI)
      Up to $10,000 to County homebuyers who have not owned a home within the last 3 years.
      Program Details >
    7. Freddie Mac HomeSteps SmartBuySM
      Offers up to $500 for purchase of a home warranty.
      Home listings and incentive details >   Sign up for buyer leads >

    Most of these programs can be used in combination. Information on these and other homebuyer savings are available at


    SentriLock Tip:
    Easy Set-Up for Listing in Multiple Counties

    SentriLock Your SentriLock lockbox and key system can be used in multiple regions. But beware! You must first properly assign your lockbox to another region before placing it at a property. Otherwise, potential buyers will be denied entry to your listing. Don't let this happen to your listings.

    Please take the correct steps to assign a lockbox to another region or Association. Otherwise, agents in those specific regions will NOT be able to access the lockbox.
    1. Remove the shackle from the lockbox.
    2. Insert your SentriCard® into card reader.
    3. Type in password and click Login.
    4. Click Customize a Lockbox.
    5. From the Select Lockbox window, select the lockbox you want to assign to another Region/Association. Click the serial number of the lockbox.
    6. On the Customize a Lockbox window, you'll see a Region drop-down list. Click the drop-down list and select a Region/Association.
    7. Click Finish.
    8. The Card Utility will update your SentriCard®. When finished, remove your SentriCard® from the card reader.
    9. Insert your SentriCard® into the lockbox. The lockbox will make a series of beeps.
    10. Insert the shackle into the lockbox at the listing.
    NOTE: Do not insert the shackle until you place the lockbox on the listing. Releasing the shackle after customizing the lockbox could cause you to lose your settings. If you need assistance, contact SentriLock support at 877-736-8745 (SentriLock).


    Consumer Tip: Finding the Fungus Among Us
    5 Oft-Forgotten Places Mold Likes to Hide

    Preparedness Helps if Disaster Strikes As the temperatures cool and we spend more time indoors, air quality becomes a concern (especially for those with allergies). You know to watch for mold in the damp, dark basement, but there are some less usual places where mold and mildew like to lurk. Investigating and eliminating mold in unusual spots can help keep you breathing easy through the winter and beyond.

    Check these five places for hidden mold:
    • The chimney - Crevices in brick can collect water and debris; faulty flashing and rusty chimney caps allow moisture inside.
    • The drip pan under your refrigerator - Moisture and food spills mingle here, encouraging mold growth.
    • Front-loading washer - The gasket around the door retains moisture if the door is shut when the washer's not in use.
    • Seals and sashes around windows - Condensation gathers and mixes with dust and dirt. The result? Yes, mold.
    • Damp dishes - if you stack and store dishes that aren't completely dry, they'll invite fungus to the feast.
    For more information on these hangouts for furtive fungi or for suggestions to treat mold you find there, please visit

    2014 Dues Renewals
    Late Fees Begin December 1

    Don't wait until the last minute to pay this year's dues.
    Use our fast and secure Online Dues Payment!
    Paying online is easy, secure, and supplies you with a receipt.

    Renew Online as Easy as 1-2-3:

    1. Click here
    2. Log in
    3. Renew online and receive receipt !

    The due date passed October 1, 2013, but there's still time to pay without a penalty! A late fee of $50 will be added for dues payments not received by midnight November 30, 2013.

    Prince George's County Dues $310
    Maryland Association Dues $215
    National Association Dues $155
    Voluntary 2014 RPAC Contribution $  35
    Voluntary Scholarship Fund Contribution $   5

    Please note: If dues payments are not made online, they may not be reflected in your payment history in Members Only.

    Thank you for being a part of PGCAR, and to all who have already renewed!


    30 Under 30 Application Period is Now Open!

    Are you a rising star in the real estate industry, and younger than 30 as of May 31, 2014? If so, apply for NAR's 2014 30 Under 30 and be recognized internationally for your exceptional real estate skills! The application period is now open, and applications are due by January 15, 2014.

    30 Under 30 Web Site >      30 Under 30 FAQ and Contest Rules >

    Maryland boasts two REALTORS® in the 2013 class of 30 Under 30, and one in 2012.

    We'd love to see a member of PGCAR in the 2014 list of honorees!


    Earn All MD and DC Required CEU at PGCAR

    Next Wednesday, November 6
    Understanding Credit Reports
    & How to Improve Your Credit

    3 MD Elective CEU
    Michael Chelst 9:30 am - 12:30 pm

    Next Friday, November 8
    MREC Required Supervision
    3 MD Required or Elective CEU
    Larry Hudson 9:30 am - 12:30 pm

    Thursday, November 14
    DC Legislative Update
    3 DC Required Legislative Update CEU
    Jackie Talpa 9:30 am - 12:30 pm
    DC Fair Housing & Predatory Lending
    3 DC Required Fair Housing CEU
    Jackie Talpa 1:30 pm - 4:30 pm

    Friday, November 15
    MD Legislative Update
    3 MD Required Legislative Update CEU;
    3 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

    Monday, November 18
    MD Code of Ethics
    3 MD Required Ethics CEU;
    3 DC Elective CEU
    Don Martin 1:30 pm - 4:30 pm

    Wednesday, November 20
    MREC Agency-Residential
    3 MD Required or Elective CEU
    Fredericka Lloyd 1:30 pm - 4:30 pm
    Reverse Mortgages
    1.5 MD Elective CEU
    Bruce Winstead 6:00 pm - 7:30 pm

    Complete CEU Schedule >

    PGCAR Store


    Remember! Enjoy Savings on CEU at PGCAR!

    Maryland and DC real estate CEU is on sale at PGCAR PGCAR Members and REALTORS® - Enjoy steep discounts on ALL classes held at PGCAR!

    Register for ANY 3 CE class for $18 early bird, $33 regular.
    Register for ANY 1.5 CE class for $11 early bird, $26 regular.

    Hurry to today >


    Market Sen$e: Downward Movement in Fixed Mortgage Rates
    Leads to Four-Month Low

    Results released by Freddie Mac last Thursday, October 24, showed fixed mortgage rates dropping to their lowest in four months.

    The 30-year fixed rate averaged 4.13 percent last week. The 15-year fixed rate was also down, at 3.24 percent.

    Frank Nothaft, Vice President and Chief Economist for Freddie Mac, stated that the dip in fixed mortgage rates resulted from market speculation that the Federal Reserve's bond buying purchases will continue unchanged this year.

    "The weak employment report for September added to this expectation," said Nothaft. "The economy added just 148,000 jobs, which was below the market consensus forecast and less than the 193,000 jobs increase in August."

    Freddie Mac reports the following averages for the week ending October 24, 2013:

    • The 30-year fixed-rate mortgage averaged 4.13%, down from 4.28%.
    • The 15-year fixed-rate mortgage averaged 3.24%, down from 3.33%.
    • "The 5-year Treasury-indexed hybrid ARM averaged 3.00%, down from 3.07%.
    • The 1-year Treasury-indexed ARM averaged 2.60%, down from 2.63%.
    Freddie Mac's Weekly Primary Mortgage Market Survey >

    Like us on Facebook to see monthly Prince George's County home sales and weekly mortgage reports as soon as they are released!



    facebook logo Prince George's County enjoyed a rise in all categories for single family homes ranging from $200,000 up to $599,999 this September over September of 2012. In particular, the $400,000-$499,999 price range was remarkable in all three categories, with a 60.5% increase in listings, 91.3% rise in contracts, and a whopping 150% increase in settlements - all in comparison with the same month last year. There was also a 1.4% increase in year-to-date settlements for this year over 2012.

    Condominiums and co-ops saw marked increases in settlements as well, with a 38.6% rise this September over the same month last year, and a 17.8% rise year-to-date.

    Visit for more details. And don't forget to like PGCAR on Facebook to see monthly statistics first!

    A few articles about the national real estate market from
    Home Buyers Value Environmentally Friendly Features
    Existing-Home Sales Down in September but Prices Rise (after hitting highest level in nearly 4 years)
    Pending Home Sales Decrease in September; First Time in 20 Months Pending Home Sales Weren't Above Year-Ago Levels


    2013 NAR Annual Conference Just Around The Corner
    Starts Next Friday, November 8

    2013 NAR Annual Conference The 2013 REALTORS® Conference & Expo is coming up fast, and it only occurs once a year! Register now so you won't miss this opportunity to learn, network, enhance skills, and recharge your REALTOR® motivation.

    If you're uncertain whether you should attend this year's conference, this video just might help you decide to join us in San Francisco.

    The Annual Conference features 100 education sessions, 400 industry exhibitors and dozens of networking opportunities and special events.


    Sales Coach: Be Known as an Authority to Increase Success

    Home Sales Coach In real estate, as in any other profession, new clients seek out those known for their expertise. If you want to become known as the authority in your field and increase your client base, take steps to make that happen.

    Follow these tips to help you become known as a real estate expert:
    • Know your stuff.
      From using reliable resources to analyzing the available data, making the effort to have the most accurate information is key to being the maestro in your market.
    • Adapt to change.
      Markets change over time; pre- and post-Superstorm Sandy is a perfect example. Buyers now are more interested in safety and code requirements than ever before, and REALTORS� who can provide ready information will gain due respect.
    • Be needed.
      Find an aspect of your market in which service is lacking, and educate yourself to become the trusted authority.
    • Involve yourself. Not only is it rewarding to give back to your community, but it's also a great way to meet people and become known.
    • Take chances.
      In educating and marketing yourself, don't be afraid to try new ideas, but be sure you do so with integrity and sincerity.

    Being thoughtful and deliberate about how you conduct your business can pay off - in many ways - in the long run. For more information about how YOU can become the go-to real estate guru, click here.


    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 Article 5, what do you think the hearing panel concluded? Click here to find out >


    Upcoming Dates & Courses

    Next Monday, November 4 @ 10:00 am
    CAM 101: Communicating With Your Customers

    MRIS reports that agents who take advantage of their FREE workshops, also tend to seldom receive complaints and fines for misuse of the MLS. Visit for details and registration. Advance registration with MRIS is required.


    Enjoy BIG Savings on Closing Costs!
    One of Many Benefits of the REALTORS® Federal Credit Union

    Save on closing costs - and invest that money in your new home instead! How, you ask? Through the REALTORS® Federal Credit Union, with no origination fee and a rebate appraisal, provided that you close by December 31, 2013. For details on this limited-time offer, click here.

    Also check out the FCU's competitive rates on new / used auto, motorcycle, boat, and RV loans, among others!

    Not a member yet? Just visit and click on the "Membership" tab for complete details and the online application.


    SentriLock Lockbox sale expires soon!  Get yours today!

    Pay only $65 each (plus tax) for up to 9 lockboxes; order larger numbers and enjoy even
    greater discounts! Power paddles are also discounted to $55 for a limited time. To take
    advantage of these great prices, please contact Shirley at the Association office.


    PGCAR offices will be closed on Monday, November 11,
    in observance of Veterans Day.

    We salute our nation's many Veterans, those serving now, and Military Families.

    Prince George's County Association of REALTORS®
    8300 Corporate Drive, Suite 100  :  Landover, MD 20785
    Phone 301-306-7900  :  Fax 301-306-8273  :  :  ©2013 PGCAR

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