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Prince George's County Association of REALTORS real estate news, events, education and legislation
Members Only  |  Forms  |  Education  |  Calendar
March 2019
    I n   t h i s   i s s u e . . .
 
Events & Industry Insider Info
Consumer's Corner
Broker's Corner
News & Trends


Come Raise Scholarship Money for Prince George's High School Graduates - David and Juanita Maclin Memorial Scholarship Fundraiser 5K Walk Run

Join us for the David and Juanita Maclin Scholarship
5K Walk / Run and 1K Walk Fundraiser
SATURDAY, APRIL 13

8 - 8:45 am: T-Shirt Pickup & On-site Registration
9 am: 5K Fun Walk / Run and 1 Mile Walk Start

Guarantee yourself a t-shirt. . .
Register Yourself or Your Team Today >

Through April 5: Only $25 Adult | $5 Child under 12
After April 5: $35 Adult | $15 Child under 12

A team of up to 10 people is only $150
Only $300 for 11 - 25 teammates

Sign up today, completing as much team member information as you can. Others who join you can sign in under your team name during April 13 onsite registration.
Proceeds go to the Scholarship Fund!

Register and Share!
www.pgcar.com/5k, the facebook event, or the 5K Registration flyer >

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PRESIDENT'S MESSAGE
PGCAR President Veera Phillips As many of you are aware, alleged comments surfaced and were reported by various media outlets that a racial slur was used by Maryland State Delegate, Mary A. Lisanti, District 34A (Harford County) in reference to Prince George's County, MD.

The Association finds the alleged comments made by Delegate Lisanti as inappropriate and repulsive. Furthermore, we denounce the insensitive and intolerable language used to describe Prince George's County, Maryland and have submitted a letter to Maryland State leadership denouncing the alleged comments made by Delegate Lisanti.

We stand in solidarity with Governor Larry Hogan, the Prince George's House Delegation, the Maryland Legislative Black Caucus, Prince George's County Executive Angela D. Alsobrooks, the Prince George's County Council and other stakeholders in the call for Delegate Lisanti to resign effective immediately.

Veera Phillips, President
Prince George's County Association of REALTORS®, Inc.
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PGCAR RPAC Bowling Tournament
Saturday, March 16
PGCAR's Annual RPAC Bowling Fundraiser photos

PGCAR members raised money for RPAC through the sixth annual PGCAR RPAC Bowling Tournament

Congratulations to the 2019 Bowling Tournament Champs! The Keller Williams Preferred Properties team of Emerick Peace, Anthony Mason, Jack Crutchfield, Donnell Taylor, Cheryl Waller, and Gregory Ireland were winners of this year's Bowling Tournament. A fun afternoon of pizza, beverages and spirited play was enjoyed by all. Thank you to everyone who participated!

Log in to see event photos >

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PGCAR Committee & RPAC Ambassador Appreciation Event

PGCAR hosted a Committee Appreciation event where all committee volunteers and RPAC Ambassadors were recognized for their service to the Association.

Everyone enjoyed the panel discussion on the importance of RPAC, and the new PGCAR produced RPAC video was debuted!

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Minimum Contribution Only $5 to Enter $600 Gift Card Raffle

Support RPAC
BEFORE 3 PM APRIL 1
AND be entered for your chance
to win a $600 Gift Card!!

CONTRIBUTIONS TO RPAC ARE NOT DEDUCTIBLE AS CHARITABLE CONTRIBUTIONS FOR FEDERAL INCOME TAX PURPOSES. They are voluntary and are used for political purposes. You may refuse to contribute without affecting your membership rights. 70% of each contribution is used by Maryland RPAC to support state and local candidates. 30% is sent to the National RPAC to sponsor federal candidates and is charged against your limits under 52 U.S.C. 30116. This solicitation in intended for REALTORS® only. Nothing herein contained shall be construed as solicitation of contributions from non-members. Personal contributions made by check must be on a personal check, not on a corporate check. Contributions made on a corporate check will be treated as a corporate contribution as permitted under the Maryland Campaign Finance Law. For contributions made by credit card: You acknowledge that all credit card contributions are subject to the usual requirements of law applicable to RPAC contributions. The charge applied to the account as a result of the contribution must be paid with the personal funds of the individual(s) by whom the contribution is made.

PRINCE GEORGE'S MARKET WATCH
February 2019 Market Analysis

Prince George's County Real Estate Market Shows 9.6% Growth over 2018 in Pending Sales, Foretelling a Strong Year for Residential Sales

1,070 Pending Sales were recorded in February, compared to 976 in 2018. Average Sales Price increased by 2.6% to $291k from the Prior Year, on over $176 million in total sales. Over 1,600 homes are listed for sale in the County, Offering Ample Supply for Buyers in all price points.

The Prince George's County local area market continues with a positive trend. Pending Sales rose by 9.6% over the same period in 2018, and this key marketplace measure of strong demand indicates that 2019 should be a strong year for residential sales.

February's 611 sales recorded resulted from lackluster activity in the last two months of the year, consistent with many other markets in the DC metro region. In all, over $176 million in homes were sold by PGCAR members in February. The Average Sold Price jumped by 2.6% from the same period in 2018.

Prince George's Maryland home sales February 2019 and 5-year February averages

© 2019 Market Stats by ShowingTime

The chart above details February activity compared to the 5-year Average, an important longer-term measure of market trends. Note that Closed Sales have slowed slightly (2.7%) below the 5-year average. Also note that there's a healthy supply of homes for sale at 2 months (representing 1,635 units) available for sale. This statistic means that if no new listings come on the market and with continued forecasted demand, the supply will go to zero.

Areas exhibiting double digit pending sales growth over 2018 include: Hyattsville (38.1%), Oxen Hill (77.1%), Takoma Park (91.7%) and Mount Rainier (175%).

Prince George's Maryland home sales February 2019

PGCAR President Veera Phillips reports that, "We were expecting February closings to reflect a drop and it's encouraging to see PGCAR's pending sales show an increased demand for home ownership in February, and also a boost in average sales prices."

She continued: "It's also important to report that the typical seller received 97% of the original List Price for closed sales in February. This tells us that homes priced well sell for close to asking price. Sellers who engage the service of a REALTOR® are best equipped to compete in today's marketplace. Combined with the ample supply of starter and move-up homes for buyers in every price point, we continue to believe that PG County continues to offer one of the best buying opportunities in the DC metro region in 2019."



FREE Legal Hotline Lunch and Learn

Members Only

LUNCH and LEARN: Legal Hot Topics!

Thursday, March 28
12:30 - 2 pm
@ PGCAR

Come meet with one of the Maryland REALTORS® Legal Hotline attorneys. Hear some of the most common legal topics important to your business and real estate!

At Home with Diversity Certification Course

At Home with Diversity Certification Course

Thursday, April 11
9:30 am - 4:30 pm
@ PGCAR


Learn how to:
  • Work effectively with - and within - today's increasingly diverse pool of homebuyers.
  • Adapt to increasing cultural diversity in the market.
  • Better plan to meet the needs of diverse clients.

Real estate professionals who evolve with our increasing cultural diversity can gain a competitive edge and are able to expand their opportunities.

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REALTOR® Marketing Campaign
That's Who We R

NAR's new REALTOR® marketing campaign is designed to let the world know that REALTORS® are real people making a difference everywhere - from our neighborhoods, to our nation's capital.

Partnering with a REALTOR® delivers the peace of mind that comes from working with a real person. A real advocate. A real, trusted professional who is committed to their clients' futures and neighborhoods just as much as they are.

REALTOR Marketing Campaign video introduction
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County Housing Authority Needs Landlords in Opportunity Zones
Landlord Briefing is April 17

Prince George's County Seal The Housing Authority of Prince George's County (HAPGC) is looking for new landlords with rental properties to participate in the County's Housing Choice Voucher (HCV) Program.

In many communities, there is a shortage of decent and affordable housing. The HAPGC has a need for landlords to rent their properties to tenants who are participants in the HCV Program. The U.S. Department of Housing and Urban Development (HUD) has given the Housing Authority a chance to expand the effort to assist families with HCVs and improve their mobility and access to schools, employment and transportation opportunities.

The HAPGC is looking for new landlords who have rental property in specific opportunity zones that fall within the following zip codes:

  1. 20774 - Largo
  2. 20772 - Upper Marlboro
  3. 20623 - Cheltenham
  4. 20722 - Brentwood
  5. 20735 - Clinton
  6. 20607 - Accokeek
  7. 20715 - Bowie
  8. 20716 - Mitchellville
  9. 20720 - Bowie
  10. 20721 - Mitchellville

There are many advantages in participating in the Housing Choice Voucher Program. For instance:

  • The HAPGC pays a portion of each month's rent based on the tenant's monthly income.
  • Landlords receive "on-time" direct deposit payments each month.
  • The HCV participants must comply with the lease requirements. Any violation, the landlord may evict the HCV participant just as the landlord would evict any tenant who violates the lease.

There are other advantages to become a landlord that accepts HCV participants. Every month, the Housing Authority hosts a Landlord Briefing to review the ease and participant requirements for the program. The next available Landlord Briefing is Wednesday, April 17 from 9:30 am to 12 noon. All briefings are held at the Housing Authority of Prince George's County, 9200 Basil Court, Suite 107, Largo, MD 20774. Space is limited to 30 participants and registration is required before attending. You can register online or by calling Ms. Pierce on (301) 883-5597. Registration is on a first-come, first serve basis.

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Class A office space for rent in prime Landover location near Metro

Rent Space at the PGCAR Headquarters

The Association is offering over 9000 square feet of class "A" office space at our new headquarters building in Landover. Get exposure to approximately 600 real estate professionals per month that frequent the PGCAR offices.

Contact NAI Michael Companies for a showing.
Barbara Richman-Kahn | Michael Isen | Michael DiMeglio

(Please note, real estate brokers are not eligible tenants)

See details and pricing in the flyer >

Maryland REALTORS 2019 Commercial Symposium

2019 Commercial Real Estate Symposium
May 2 | 8 am - 4:30 pm | Turf Valley Resort, Ellicott City
Register at www.mdrealtor.org >

The Commercial Symposium is an annual one-day educational seminar for Maryland real estate agents to get up-to-the-minute information on the hottest local commercial real estate developments and trends.

Commercial real estate agents in our region consider this education a must-attend event. Last year's event attracted approximately 180 attendees. 200 attendees are expected at this year's event. These are the "movers and shakers" in the commercial real estate industry.

Registration is $125 for online registration through April 25. On-site registration will increase to $150.

MAY 2 AGENDA:

8 - 9 am
Registration / Breakfast / Welcome

9 am - 12 noon
Commercial Agency
(3 hours MD Agency-Commercial CE, Category H)
    - OR -
CRE Boot Camp: Working with Commercial / Investment Clients
(3 hours MD Elective CE, Category F)

12 noon - 1:15 pm
Lunch & Networking

1:15 - 2:45 pm
Secrets to Building Your Commercial Real Estate Business & Network Panel Discussion
(1.5 hours MD Elective CE pending)

2:45 - 3 pm
Break

3 - 4:30 pm
Opportunity Zones Panel Discussion
(1.5 hours MD Elective CE, Category F)

4:30 pm
Closing Remarks

REALTORS® LEGISLATIVE MEETINGS & TRADE EXPO
Monday, May 13 - Saturday, May 18 in Washington, DC

The Annual REALTORS® Legislative Meetings & Trade Expo is coming to our neighborhood in less than 2 months. Take advantage of the FREE meetings, training sessions, and the Trade Expo. The Expo is open Wednesday and Thursday, 10 am to 6 pm.

Registration is now open and FREE to REALTOR® members.
To see the most, register and plan your Convention Schedule in advance >


Wednesday
March 20
1 - 4 pm
3 MD Required Legislative Update CEU (Category A); 3 DC Elective CEU
Register >
 
Tuesday
March 26
11:30 am - 1:30 pm
No CEU; Includes Lunch
FREE! Members Only
Register >
 
Wednesday
April 3
9:30 am - 12:30 pm
3 MD Required Legislative Update CEU (Category A); 3 DC Elective CEU
Register >
 
Wednesday
April 3
1:30 - 3 pm
1.5 MD Required Fair Housing CEU (Category C);
1.5 DC Elective CEU
Register >
 
Wednesday
April 17
1 - 4 pm
3 MD Required Ethics CEU (Category D);
3 DC Elective CEU
Register >
 
Tuesday
April 23
9:30 am - 12:30 pm
3 DC Required Fair Housing CEU
Register >
 
Tuesday
April 23
1:30 - 3 pm
1.5 MD Elective CEU (Category B)
Register >
 
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Bright MLS - Training, LIVE Clinics and 7/24 Support

Bright is continuing their live YouTube clinics. You can tune in 3 times weekly for time-saving tips and tricks, and answers to yours and other top questions from Bright instructors.

Mondays at 10 am | Wednesdays at 2:30 pm | Fridays at 12:30 pm

You can also get help using the Bright MLS anytime.
Find a list of additional resources at PGCAR.com/Bright >

PGCAR has scheduled 2 more FREE Members Only Bright MLS Training classes. They will be held Monday, April 8 at PGCAR!

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The National Association of REALTORS® has launched a FREE tool to help you take REALTOR® professionalism to the next level.

  • Log in to Commitment to Excellence (C2EX) at www.C2EX.realtor and take a self-assessment that measures your proficiency in 10 Core Competencies (11 for Brokers).

  • Learn more and become more effective in any or all of the 10 Basic Core Competencies (e.g. Customer Service, Technology, and more), at your own pace.

Commitment to Excellence (C2EX)
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PGCAR Membership Applications

As your Association, we strive to be a productive resource for you. REALTORS®, if you have any brand-new or soon-to-be-licensed agents in your office, below is the new 2019 membership application. Also invite your favorite providers to join as an Affiliate member.

Affiliates, the best way to get your name in front of REALTORS® and industry decision makers is to get involved and sponsor PGCAR activities. We hope you will consider this valuable opportunity to support your Association and build new business relationships. Invite your co-workers and other business partners to also join.
THANK YOU to ALL members who have renewed or joined for 2019!
There's great benefits for our REALTOR® and Affiliate members!

Prince George's County REALTOR membership application for real estate agents Prince George's County REALTOR membership application for real estate agents  REALTOR® Membership Application
Prince George's County affiliate membership application for real estate industry partners Prince George's County affiliate membership application for real estate industry partners   Affiliate Membership Application
Prince George's County affiliate membership levels and benefits for real estate industry partners   Affiliate Membership Levels and Benefits


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


Come Raise Scholarship Money for Prince George's High School Graduates - David and Juanita Maclin Memorial Scholarship Fundraiser 5K Walk Run

Invite ALL of your customers and contacts to the Maclin Scholarship 5K Fundraiser. It's always a fun and inspiring time! We'll announce the four Prince George's County seniors winning a $2,500 scholarship this year, get some exercise (1K or 5K, walk or run), and enjoy some good music and snacks. Best of all -- proceeds go to a future scholarship!

So Ask Them to Join You Saturday, April 13
for the David and Juanita Maclin Scholarship
5K / 1K Fundraiser

8 - 8:45 am: T-Shirt Pickup & On-site Registration
9 am: 5K Fun Walk / Run and 1 Mile Walk Start

Register at pgcar.com/5k >

Through April 5: Only $25 Adult | $5 Child under 12
After April 5: $35 Adult | $15 Child under 12

A team of up to 10 people is only $150
Only $300 for 11 - 25 teammates

You can share the pgcar.com/5k registration link for them to register themselves.
You might also consider registering yourself or office as a team and inviting others to join you, letting them know you made a scholarship donation for them. When they arrive at the fundraiser, they can sign in at the registration tent under your team name.

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First-Time Homebuyers! Work with Your REALTOR®
and an Approved Lender. See if You Can Receive
Up to $20,000 Towards a Home in Prince George's County

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Maryland Homebuyers can retire up to $40,000 in Student Debt with Maryland SmartBuy 2.0

Maryland SmartBuy 2.0 Allows Homebuyers
to Purchase Any Eligible Home in Maryland
and Eliminate $40,000 in Student Debt



BROKER'S CORNER


Small Broker Social
Thursday, March 7

PGCAR holds "Small Broker" Social

The social event gathered brokers leading offices with 1 to 5 licensees. It was held at PGCAR's new headquarters in Landover. A myriad of topics were addressed, centering on how PGCAR can be of assistance to small broker operations. Member benefits and services were addressed, along with committee work, forms, RPAC and more. Lite fare and refreshments were enjoyed by all.

Log in to see event photos >

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"Mortgage rates declined decisively this week amid various market reports, a strong bond auction and further uncertainty around the Brexit deal, which all contributed to driving bond yields lower," said Sam Khater, Freddie Mac's chief economist.

Added Khater, "At 4.31 percent, the average 30-year fixed mortgage rate is at its lowest since February of last year. While these low rates will certainly get the attention of prospective homebuyers, the supply of homes for sale remains stubbornly low."

Freddie Mac reports the following averages for the week ending March 14:

The 30-year fixed-rate mortgage averaged 4.31%, down from 4.41% ~ Last year: 4.44%
The 15-year fixed-rate mortgage averaged 3.76%, down from 3.83% ~ Last year: 3.90%
The 5-year Treasury-indexed hybrid ARM averaged 3.84%, down from 3.87% ~ Last year: 3.67%

Freddie Mac's Weekly Primary Mortgage Market Survey >

REALTOR Broker Summit April 2 - 3 in Austin Texas

Get the scoop on best practices, new innovations, and the changing shape of real estate in order to position your brokerage for success and stay ahead of the curve.

The 2019 Summit will be held Tuesday, April 2 and Wednesday, April 3 at Austin City Limits Live, at the Moody Theater in beautiful downtown Austin, Texas.

Details and registration >

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$10,000 Good Neighbor Awards
Applications Due May 10

Are you or anyone in your office leading a community service project that's already making a significant impact? Please encourage applications for the Good Neighbor Awards.

5 Winners will receive $10,000 grants for their charities, publicity for their cause, and be flown to the 2019 NAR conference to receive their award.

Applications Due May 10 >

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


National News & Market / Industry Surveys

Tips & Trends

Regional News
8300 Corporate Drive, Suite 100  |  Landover, MD 20785  |  Phone 301.306.7900  |  Fax 301.306.8273
PGCAR.com  |  mikeg@PGCAR.com  |  ©2019 PGCAR
visit the PGCAR website              visit the PGCAR Facebook page        

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