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Prince George's County Association of REALTORS real estate news, events, education and legislation
Members Only  |  Forms  |  Education  |  Calendar
July 1, 2017


    I n   t h i s   i s s u e . . .
 
Events & Industry Insider Info
Consumer's Corner
News & Trends


Barbara Ford's Retirement


Barbara_Fords_Retirement
It is with mixed emotions that we announce the retirement of Barbara Ford, our Accounting Manager. Barbara has provided us with 24+ years of devoted service. Her departure marks the end of an era for PGCAR. We don't know how we will get along without her!

Barbara's positive attitude and abundance of energy have helped make our office a pleasant place to work. Her willingness to put in extra time and effort to help us meet deadlines has demonstrated a commitment to excellence that we have come to depend upon. PGCAR owes her a debt of gratitude for keeping us in order and on budget over these many years. Her REALTOR® family will remember Barbara as a hardworking, committed, and friendly person. She will be deeply missed but we can only feel happy for her after these many years of service.

Barbara's last day of work is Friday, July 7th. We invite members to drop in and say goodbyes and to wish her a wonderful retirement.
General Membership Meeting
2017 Real Estate Round-Up

Nearly 200 members were in attendance at PGCAR's
"The Real Estate Round-Up" luncheon held on June 13th.


Ms. Katherine Connelly, Executive Director of the Maryland Real Estate Commission, informed members of recent happenings at the Commission; do not give one day lockbox codes to unauthorized users, especially "home buyer clients". The Commission is transitioning to electronic license renewal. As such, set your email to accept emails from the Commission (which uses the maryland.gov email extension), and be careful not to send confidential information like Social Security numbers via email.

Jonathan Hill, VP Marketing & Communications at MRIS, educated members on the NEW MRIS/Bright MLS and some of the changes that are coming, especially the reduction in the quarterly fee.

Bill Castelli, VP Governmental Affairs of the Maryland REALTORS®, reported on recent legislative changes affecting real estate in Maryland.

PGCAR's President, Patricia Dowtin, offered a detailed report on PGCAR's new "home" at 8300 Corporate Drive.

Overall everyone enjoyed the program and the opportunity to network with colleagues and friends. A number of affiliate members were on hand to offer services to members; lenders, title companies, home staging companies, Homeowners and E&O Insurance carriers, and more.


YOUR Chance to Serve Your Industry
Consider Running for Office!!

PGCAR is soliciting nominations for individuals who are interested in serving as a member of the PGCAR Board of Directors. The PGCAR membership will elect a President-Elect and Secretary to serve one-year terms and four (4) individuals to serve two-year terms on the Board of Directors. The 2017 - 2018 leadership service term begins on October 1, 2017.

Any individual wishing to run for President-Elect or Secretary:
  • must be a REALTOR® member in good standing of PGCAR,
  • must have held membership in PGCAR for a minimum of two years, and
  • must have served at least two years as a Member of the Board of Directors during the last four years.

Those running for a Director position:
  • must be a REALTOR® member in good standing of PGCAR,
  • must have held membership in PGCAR for a minimum of two years, and
  • during the last four years, must have completed at least two full years of service on a PGCAR standing or special committee or completed at least one full year of service on two separate standing or special committees.

Service on the Board of Directors requires a commitment to attend Board of Directors meetings (12 per year) as well as participating in other PGCAR activities.

If interested in being considered by the Credentials Committee for inclusion on the ballot,
please log in at PGCAR Members Only and complete the Candidate Form >

Application Deadline is Midnight Sunday, July 16!
Changes to Your dotloop Freemium Plan

dotloop Freemium Reminder
Just a reminder of a few changes to your free dotloop account:
  • A new total loop count. Your account will transition to a new set of 10 free loops. You will always have access to these loops, as well as any of your pre-existing loops.

  • A new loop collaborator time limit. You will have up to 90 days from the time a new loop is created to add additional contributors or sharers. Although you won't be able to add new collaborators after 90 days, you can continue to maintain your loop and share documents with the original participants forever.

Save 50% Off dotloop Premium Plan During July
For access to unlimited loops and other key features, please check out the dotloop Premium plan. If you upgrade before August 1, you'll save 50% off the listed monthly price during your first year if you enter Promo Code 50%OFFMONTHLY. Or you can save 50% off the listed Annual subscription during your first year with Promo Code 50%OFFANNUAL.

Have questions or want to learn more? Please reach out to the Dotloop support team at support@dotloop.com.
Come join the WCR for an evening of fun, music, and
HOT STEAMED MARYLAND CRABS!


Also enjoy crab soup, hot dogs w/kraut, fried flounder, chicken, macaroni & cheese, beans, corn, and much more! You will not go hungry! There will also be beer, soda, cash bar, and of course there will be a DJ, dancing, and a raffle!

Food is being served from 6 pm - 8 pm only. Drinks are available from 6 pm - 10 pm.

Network ~ have fun ~ partake in a Maryland tradition ~ support WCR!

LAST DAY TO PURCHASE TICKETS IS AUGUST 12th

$65 ticket purchased in advance - tickets will be given out at the door.
You must bring your payment receipt with you!!

RESERVE YOUR TICKETS AT PGCAR.COM TODAY >
Maryland RPAC Raffle
Win A $2,000.00 Royal Caribbean Gift Certificate!!!

Gift certificates can be redeemed as a payment towards a cruise vacation!

Purchase your raffle tickets at the PGCAR Office during July and August.

Ticket prices are $5 each or six for $25, $50 maximum.

The drawing will be at the Maryland REALTORS® Annual Conference in Ocean City at 12:30 pm on September 13. Winners need not to be present to awarded the prize! Click here for Gift Certificate details.
PGCAR Member Benefits
It Pays to Be a Member!

Save on all of Your PGCAR Membership Benefits
YOUR Membership in the Prince George's County Association of REALTORS® = $1,445 in discounted services!
Get the most from your membership!
MAR Call for Volunteers!
Enhance Your Membership Experience and Make a Difference!


Why participate?

Volunteer contributions make it possible for MAR to fulfill our mission and advance the REALTOR® profession. We are currently seeking dedicated members to serve on our committees beginning October 1, 2017 through September 30, 2018. Volunteer committees assist MAR in identifying industry issues, help preserve the right to own, transfer, and use real property, as well as participate in the work of MAR in partnership with staff.

How to participate:

We need your skills, talent, and expertise to build an energetic and inclusive group of volunteer members. To find an opportunity that interests you, scroll down to see committee descriptions. If you find an opportunity that interests you, click on the title and review the requirements. Please check to see whether a committee has prerequisites and determine if you meet those requirements. Your responses will be carefully considered to help us seat the most appropriate, diverse, and inclusive teams possible.

If you are a current committee member and wish to remain on your current committee for 2017 - 2018, you must complete the Volunteer Request form to indicate your continued interest in volunteering.

What you get in return:

Volunteering is a great way to get rewarding personal and professional development experiences. Please consider what you can offer to MAR and help influence change and improvements in the industry and REALTOR® profession.




Every PGCAR member has a special talent and interest to contribute. Through PGCAR's many committees you can play a major part in the leadership of our Association, and the positive contributions PGCAR members make throughout Prince George's County communities.

Details regarding each opportunity are at www.pgcar.org. Committees for the 2017 - 2018 membership year will become effective on October 1, 2017 and will serve until September 30, 2018. Interested? Watch your email for the opportunity to sign-up and be aboard for the new membership and leadership year.

Interested in future leadership opportunities? Committee membership and leadership is the place to start. Completion of at least 2 years of PGCAR committee service is required before applying for consideration as a PGCAR Director candidate.
Help For Common Ownership Communities
FHA & VA Condominium and Homeowners Association Approval Pamphlet

Condominium projects and homeowners associations are struggling in Prince George's County because of foreclosures, low returns on assessments, inadequate reserves and, in some cases, simply the apathy of board members and residents. This situation often results in the inability for these projects to receive and maintain HUD financing approval. PGCAR has created a resource guide to assist COC's in qualifying and maintaining their FHA and VA loan approvals.

The FHA & VA Condominium and Homeowners Association Approval Pamphlet walks COC officers and management companies through the complicated process of obtaining HUD approvals and includes valuable contact resources.

PGCAR REALTOR® Resource Center is Temporarily Closed

Effective immediately, as a result of staffing changes and to more efficiently process SentriLock keys, the REALTOR® Resource Center, our room with a computer and printer for members to use, is closed until further notice. The Center will reopen in the near future.
Stay in the Know
Visit Our Events Calendar Regularly

The Annual Maryland REALTORS® Convention in Ocean City, and National Association of REALTORS® Conference in Chicago this year, are two valuable annual events geared towards providing REALTORS® an energizing, educational and entertaining business booster! Click on the above banners for details and registration.

Also check out the PGCAR Calendar for these and other upcoming events, and check out the PGCAR Photo Gallery for many recent events. PGCAR members have many opportunities to be involved, and to learn!

Intro to Commercial Real Estate
2-Day Boot Camp to Accelerate Your Growth

Thursday, July 13 - Friday, July 14
9 am to 4:45 pm
at PGCAR

In 2 days, learn how to increase transactions, referrals and profits in Commercial Real Estate. Whether you are just starting in commercial real estate, or wanting to improve or review some skills, this course is relevant for any experience level.
DC Salesperson Licenses Expire August 31
Earn Your Required 15 CE Hours at PGCAR

DC Real Estate Agents License Renewal Deadline
Don't wait any longer to meet CE hour requirements and renew licenses through the DC Real Estate Commission. Register for your remaining hours TODAY!

15 total continuing education (CE) hours are required for license renewal.
Easily complete all 9 CE hours in required topics during July:


3 CE DC Fair Housing & Predatory Lending Wednesday, July 12 9:30 am - 12:30 pm Register >
3 CE DC Legislative Update / Exam Prep Wednesday, July 12 1:30 pm - 4:30 pm Register >
3 CE Financing Issues / Update Tuesday, July 18 1:30 pm - 4:30 pm Register >
6 CE hours in electives are also needed, for a total of 15 approved DC CE hours needed BEFORE renewing your DC license. All 15 DC hours are easy to meet at PGCAR or online!
Earn All Your Maryland and DC CEU at PGCAR
Only $18 for 3 CEU; $11 for 1.5 CEU Classes

Save the most by registering 3 days or more in advance.
Hurry! Some classes have been selling out.

Wednesday, July 12
DC Fair Housing & Predatory Lending - 3 DC Required Fair Housing CEU
DC Legislative Update / Exam Prep - 3 DC Required Legislative Update CEU
Thursday, July 13 - Friday, July 14
Intro to Commercial Real Estate (2-Day Boot Camp) - 6 MD Elective CEU per day
Monday, July 17
Work with & Advise Foreign National Clients - 3 MD Elective CEU
Tuesday, July 18
MD Code of Ethics - 3 MD Required Ethics CEU (Cat. D); 3 DC Elective CEU
Financing Issues / Update - 3 DC Required Financing Issues / Update CEU; 3 MD Elective CEU
Wednesday, July 19
Contracts - 3 MD (Cat. F) & DC Elective CEU
Reverse Mortgages - 1.5 MD Elective CEU (Cat. F)
Thursday, July 20
MREC Agency - Residential - 3 MD Required Agency CEU (Cat. H)
MREC Required Supervision - 3 MD Required Supervision (Cat. I) or Elective CEU
Friday, July 21
MD Legislative Update - 3 MD Required Legislative Update CEU (Cat. A); 3 DC Elective CEU
MD Fair Housing - 1.5 MD Required Fair Housing CEU (Cat. C); 1.5 DC Elective CEU


Register for multiple classes at pgcar.com/classes >

- - - CONSUMER'S CORNER - - -
Great reasons to stay in touch! Share these with your customers.


Help homebuyers get into their dream home with the HomeReady® mortgage, an affordable Fannie Mae lending product.

First-Time Homebuyer Program for Prince George's County:
"Pathway to Purchase" Homebuyer Income Limits Have Increased


Prince George's County Pathway to Purchase First-time Homebuyers Savings Program Pathway to Purchase is still available, offering first-time home buyers in Prince George's County up to $10,000 in down payment and closing cost assistance. The maximum eligible home sales price is $307,000. Homebuyers may have an annual household income up to 80% of the area median, adjusted for family size. Single household buyers can have between $38,811 and $61,800 annual income. A household of five can have between $59,823 and $95,350 to qualify.

Share information on this great program while funding is still available >

For information on program income limits, buyer contribution, area median income, debt requirements, and other application details:

"The 30-year mortgage rate fell 2 basis points to 3.88 percent this week," says Sean Becketti, Freddie Mac's chief economist. "However, the majority of our survey was conducted prior to Tuesday's sell-off in the bond market which drove Treasury yields higher. Mortgage rates may increase in next week's survey if Treasury yields continue to rise."

Freddie Mac reports the following averages for the week ending June 29:

The 30-year fixed-rate mortgage averaged 3.88%, down from 3.90% ~ Last year: 3.48%
The 15-year fixed-rate mortgage averaged 3.17%, same as last week ~ Last year: 2.78%
The 5-year Treasury-indexed hybrid ARM averaged 3.17%, up from 3.14% ~ Last year: 2.70%

Freddie Mac's Weekly Primary Mortgage Market Survey >
PRINCE GEORGE'S 2017 HOME SALES CONTINUE THEIR GROWTH OVER 2016

Pending home sales in Prince George's County increased by 16.7% in May for single family homes, by 20% for condos. Other highlights include:
  • Contracts which made it to settlement during May increased 19.9% for single family homes, and decreased by 10% for condos.
  • The number of new listings rapidly increased for single family and condo/coop residences, which kept the total number of available listings steady.
  • Average sales price rose 0.3% for single family homes (increasing from $293,586 to $294,594) and rose 4.2% for condos/coops.
  • Average Days on Market was 39 days for homes sold in May. 41.8% were on the market 10 or less days before sold; 59.7% were on the market 20 or less days before sold. This sets a new 5-year low for Average Days on Market!
See more on our hot market at pgcar.com/stats >
And don't forget to like PGCAR on Facebook to see monthly statistics first!

- - - NEWS AND TRENDS - - -
Reminders, trends and other news you should know.
IN THE NEWS

National Market News:
Regional News:
9200 Basil Court, Suite 400  |  Largo, MD 20774  |  Phone 301.306.7900  |  Fax 301.306.8273
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