I n t h i s i s s u e . . .
PGCAR Installation of 2019 / 2020 Officers & Directors
Thursday, September 19
REALTORS®, friends and colleagues turned out in great numbers to attend the Installation Ceremony of PGCAR 2020 President Yolanda Muckle (associated with Long and Foster Real Estate in Mitchellville, MD). The event was held at Camelot in Upper Marlboro, Maryland on September 19, 2019 and Triscina Grey, from WHUR Radio (96.3) was our Mistress of Ceremonies for the evening. The evening was enchanted by the wonderful sounds of the Johnny Steele Band and the room was saturated with purple and silver, Yolanda's favorite colors. Yolanda will be taking the helm of PGCAR on October 1st and was installed by County Council Chairman Todd Turner. Maryland Association of REALTORS® President, John A. Harrison, installed the Officers and Directors at the event.
Muckle has served PGCAR in a number of capacities through the years, most recently as President-Elect. During her many years of membership, Mrs. Muckle has served on many PGCAR committees. She is always willing to take on any task to benefit the community and the Association.
President Muckle plans to enhance PGCAR's presence in the media during her year as President and will actively encourage the membership to participate in Association activities.
Other installed Officers and Directors include:
President - Yolanda Muckle, Long and Foster Real Estate
President-Elect - Shameeka Price, Capital Structures Real Estate
Secretary - Melanie Gamble, eXp Realty LLC
Treasurer - Paul "Carlos" Lancaster, EXIT Right Realty
Past President Director - Veera Phillips, Keller Williams Preferred Properties
Dee Barino, EXIT Landmark Realty
Kenneth Fagan, Long and Foster Real Estate
Donald Frederick, RE/MAX United Real Estate
Sherman Hardy, EXIT Landmark Realty
Rachel Jefferies, Keller Williams Preferred Properties
Pamela Jenkins, Weichert REALTORS®
Willie Rhone, Weichert REALTORS®
Connie Stommel, EXIT 1 Stop Realty
Prince George's County Real Estate Market Stays Steady in August
While Closings and Pending Sales Fall in Line with Historical Trends
August's Average Prices Increase 3.7% Over 2018
1,183 Pending Sales were recorded, as Average Sales Price increases to $316k from the Prior Year on over $292 million in sales. Over 1,730 homes are listed for sale in the County, offering Ample Supply for Buyers in all price points.
The Prince George's County Association of REALTORS® (PGCAR), reports that the local area market in August showed steady progress in what will likely be a banner year for the area.
932 Closed Sales were recorded for the month, which is 4.5% less than the comparable period in 2018 and 2.5% less than the very active month of July. In all, an impressive $292 million in homes were sold by PGCAR members in August. The Average Sold Price grew by 3.7% from the same period in 2018 to $316,035, yet another positive indicator.
© 2019 Market Stats by ShowingTime and Bright MLS
The chart above details August activity compared to the 5-year Average, an important longer-term measure of market trends. Note that Closed Sales syncing in line with the 5-year average. Also note that there's a healthy supply of homes for sale at 2.5 months (representing 1,739 units) available for sale (versus a 1,957 historical measure and 2.5 month's supply.) This important statistic means that if no new listings come on the market and with continued forecasted demand, the supply will go to zero. It also means it's a great time for sellers to jump in the market to sell as demand remains high. Sellers can contact their local REALTOR® for competitive market analysis at no cost.
Ms. Veera Phillips, President of the Prince George's County Association of REALTORS® and a professional REALTOR® at Keller Williams Preferred Properties, shared: "We were pleased to see a consistent growth in average sales prices, while still keeping Prince George's County's housing selections affordable and within the reach of so many young families, first time buyers and folks relocating to DC for work."
She continued: "It's also important to report that for the fourth month in a row, the typical seller received 100% of the original List Price for closed sales in August. Once again, this illustrates that sellers who wisely engage the services of a real estate professional are best equipped to compete in today's marketplace. There is an ample supply of starter and move-up homes for buyers in every price point. We continue to believe that Prince George's County continues to offer one of the best buying opportunities in the DC metro region in 2019."
Please join us! If you want to learn more about the roles and responsibilities of your homeowner, civic, condominium and community associations, then the Prince George's County Community Associations
Conference is for you. This FREE event is hosted by State's Attorney Aisha Braveboy and includes workshops, community vendors, food, fun and more! To attend, please register online.
The changes should yield thousands of new homeownership opportunities and help alleviate affordability restraints across the country.
NAR President John Smaby commended Secretary Carson and the Department of Housing and Urban Development, "Condominiums are often the most affordable option for first-time homebuyers, small families and those in urban areas. This ruling, which culminates years of collaboration between HUD and NAR, will help reverse recent declines in condo sales and ensure the FHA is fulfilling its primary mission to the American people."
Changes will take effect October 15, 2019
- Extends certifications from two years to three
- Allows for single-unit mortgage approvals
- Provides more flexibility with owner / occupancy ratios
- Increases the allowable number of FHA loans in a single project
With more than 8.7 million condo units nationwide, only 17,792 FHA condo loans have been originated in the past year.
NAR Chief Economist Lawrence Yun noted that with their relative affordability, condominiums are a natural answer to inventory shortages holding back home sales growth. "Condos are typically more affordable than a detached single-family home, but only a small fraction of condos are FHA-certified."
SHORT-TERM RENTAL RESTRICTIONS AND LICENSING REQUIREMENTS FOR PRINCE GEORGE'S COUNTY
NEW REQUIREMENTS EFFECTIVE OCTOBER 1, 2019
Two new laws that will greatly restrict short-term rental operations in Prince George's County will be effective October 1.
The new rental laws require that property owners who are "Airbnb-type" hosts or any other type of short-term rental host or manager
- to be licensed
- to meet numerous code, property, notification, financial and other requirements
REALTORS® and their clients should speak with an attorney or someone familiar with the new laws if currently or considering renting out units, even if on a home-sharing platform.
PGCAR Hosts RPAC Major Donor Event
Gourmet Chef Danny Boylen, owner of Cogito Ergo Saute, treated guests to an exclusive "culinary experience" at PGCAR's RPAC Major Investor event held Tuesday evening, August 27. Through a collaboration of the RPAC Committee and a group of PGCAR's stalwart Sterling R investors, a select few of PGCAR's Top Producers were invited to attend the exclusive event. Attendees heard from Kitty Wallace, NAR's 2019 Major Investor Council Chair. Ms. Wallace shared her perspective on REALTOR® advocacy and the importance of investing in RPAC in support of the real estate industry.
Through the efforts of PGCAR Past President and RPAC Hall of Famer, John Lesniewski, Caruso Homes agreed to host the event at their lovely Monticello model at Collingbrook Estates in Bowie. Champagne flowed and all enjoyed a fabulous meal and cooking demonstration. Over $5000 was collected for RPAC.
Thank you to our Sterling R hosts: Veera Phillips, DeAnne Sutton, Yolanda Muckle, Cheryl Abrams Davis, Mike Cerrito, Gloria Farrar, and John Lesniewski!! And thank you to our new Sterling R investors: Dee Barino, Gene Frazier, Shameeka Price, Pamela Jenkins, and Mike Graziano.
Log in to view photos >
Click here to contribute to RPAC >
And the Winners are . . .
On September 5, the drawing was held to randomly pick the winner of THREE gift cards. The winners are . . .
- Christine Olfus (Anna Victoria Group) - $100 Gift Card Winner
- Karen Willis (Keller Williams) - $200 Gift Card Winner
- Stephanie Poplar (IGoldenone Realty) - $700 Gift Card Winner
- ALL of Us - Grand Prize Winners of increased RPAC participation, fueling legislative victories that reward homeownership!
Thanks to everyone who bought raffle tickets! You can contribute to RPAC anytime to support legislative wins for homeowners and all of us!
Just like last year, PGCAR Dues Billing is Green and Paperless,
using our secure, online payment system at pgcar.com/dues.
We're pleased to announce there is NO PGCAR or NAR dues increase for 2020,
and just a $4 increase for Maryland REALTORS® dues!
|The 2020 local, state and national dues, and RPAC contribution are:
|PGCAR Local Membership Dues
|Maryland State Association Dues
|NAR National Association Dues
|RPAC Contribution *
Membership renewals are due October 1.
A $75 late fee will be assessed to non-paid dues November 30.
* Voluntary Contribution
Don't go it alone! Learn the quick and easy way. Come for free training and Q & A with an MLS expert!
Learn to efficiently navigate Bright MLS.
Take the shortcut to better using Bright MLS' multiple features.
- Review all products and services offered by Bright MLS
- Thoroughly review account and settings options
- Review available in-person and online training classes
- Review available support resources
- Cover important account setup options (Billing, Branding, and Client Interaction Preferences)
Take a deep dive into ShowingTime options. Learn how to customize ShowingTime to manage your listings and schedule showings. Take this class to fast-track becoming a ShowingTime power user!
- ShowingTime Access
- Updating Information
- Listing Preferences & Activity Reports
- Showing Details, Calendar & Management
- The Mobile App
Take Steps to Improve Your Safety
Would you advise children to ride with a stranger or go into a stranger's home? I hope not, yet REALTORS® are continually meeting new people, often too much in stride.
Please use September's REALTOR® Safety Month to learn about keeping yourself and others safe.
- Register for PGCAR's 3 CEU Real Estate Safety Class.
- Check out 56 Tips for Safety and other safety tips at nar.realtor/safety on a regular basis.
Register at Least 3 Days in Advance! Early Bird Pricing is Only $11 for 1.5 CEU, $18 for 3 CEU.
We all deal with stress. What stresses us can be as varied as time crunches or slow-downs, speaking in public or feeling alone, feeling you're not spending enough time with family, or having your entire family staying with you for a weekend.
You get the picture: stress can strike at anytime. We can also handle it, and still be productive and at peace through it.
One of the challenges with diets, exercise, learning new skills. . . any type of improvement involving change, is that most people set unrealistic goals and then quickly become frustrated and give up. Any significant change needs to include small goals accompanied by a solid plan to achieve those goals.
Small, steady changes will take you further toward your goals without experiencing the "D" words -- disappointment, dread and defeat.
FREE DUES ??
- Have you been a REALTOR® for 40 years or more?
- Have you served at the local, state or national level at least one year?
If yes to both, apply for REALTOR® Emeritus status.
If eligible, your future PGCAR and NAR dues will be waived!
Download the REALTOR® Emeritus Application here >
Monday, September 23, 2019 is the LAST deadline to qualify as a REALTOR® Emeritus without serving at least one year at the national level. When the next REALTOR® Emeritus application period opens in 2020, at least one year service at the national level will be required.
PGCAR Affiliate Spotlight:
Pride Settlement and Escrow, LLC
Pride Settlement and Escrow, LLC is a real estate settlement company that provides expert closing and settlement services. Proudly serving Maryland, Virginia and the District of Columbia, we are here to make the experience of settlement a GREAT one. Mobile settlements are always offered, even after business hours. Regardless of your title challenge, we are here to protect you and your homeownership.
Our team uses the latest technology systems that streamline processes to expedite your settlement. We have an experienced staff who review documents, go over all paperwork and make the closing process a smooth one. Discover the difference that experience and dedication make. Come and be part of the PRIDE. #settlewithpride
Whether you live in a homeowner's association, co-op, condominium association, or are considering living in one, Back to Basics will provide valuable information meant to inform the public of their rights as homeowners and of all the resources they are entitled to. Prince George's County Executive, Angela Alsobrooks, will be making an appearance as a guest speaker.
To attend, please register online.
The conference's agenda consists of a variety of relevant sessions that feature topics that all homeowners should be aware of such as:
- Working with Difficult Boards of Directors
- Collections and Assessments
- Understanding Governance Laws
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.
Great reasons to stay in touch! Share these with your customers.
Real Estate, Safety, and You!
Share this award-winning Safety video with your non-REALTOR® clients. It's a quick insight to your safety habits, and why these habits help THEM too!
Did you know that each blood donation can be used to save up to 4 lives?
Did you know that blood is almost always in high demand and low supply? Yet donating blood is one of the easiest ways to help?
Help spread the word, and ask others to donate blood.
Many get out of the habit after moves and other life changes. Hint, hint! This is the right kind of "good news" to share with your home buyers and sellers.
You can schedule an appointment online or by calling 1-800-RED-CROSS.
Freddie Mac's Primary Mortgage Market Survey® released September 19 shows the 30-year fixed-rate mortgage average rose to 3.73%, from the nearly 3-year low of 3.49% reported on September 15. While this is an abrupt increase, the September 5 averages were the lowest seen since October 2016 and the Federal Reserve cut interest rates a further 0.25% this Wednesday, September 17.
"Despite the rise in mortgage rates, economic data improved this week - particularly housing activity, which gained momentum with a noticeable rise in purchase demand and new construction," said Sam Khater, Freddie Mac's chief economist.
Khater added, "Homebuyers flocked to lenders with purchase applications, which were up fifteen percent from a year ago and residential construction permits increased twelve percent from a year ago to 1.4 million, the highest level in twelve years. While there was initially a slow response to the overall lower mortgage rate environment this year, it is clear that the housing market is finally improving due to the strong labor market and low mortgage rates."
Freddie Mac reports the following averages as of September 19:
- The 30-year fixed-rate mortgage averaged 3.73%, up from 3.56% ~ Last year: 4.65%
- The 15-year fixed-rate mortgage averaged 3.21%, up from 3.09% ~ Last year: 4.11%
- The 5-year Treasury-indexed hybrid ARM averaged 3.49%, up from 3.36% ~ Last year: 3.92%
Freddie Mac's Weekly Primary Mortgage Market Survey >
Your Association offers you a lot, and it's important to us that we deliver what best supports you, your business and life.
Here are 3 great opportunities to remind your agents about this month:
- FREE Bright MLS training on Monday, September 23
Really, why go it alone? Spend a few short hours and save days, maybe weeks of trying to learn it on your own. Use the MLS and other tools available to you, to increase your productivity and impress your clients
- September is REALTOR® Safety Month
Your Safety matters to us and your loved ones, every single day. Register for at least one class or webinar this month.
- pgcar.com/classes and pgcar.com/calendar
Visit pgcar.com/classes for PGCAR workshops, CEU classes, and designation classes.
Visit pgcar.com/calendar for all of the most important PGCAR, county, state and NAR classes and events.
And of course, remind everyone about voting and the Installation. You can't help but have a sense of pride when you see the many professional, community and legislative activities being achieved by YOUR Association and fellow members. Bookmark pgcar.com to stay in the know >
- - - NEWS AND TRENDS - - -
Reminders, trends and other news you should know.
National News & Market / Industry Surveys
Tips & Trends