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| WASHINGTON ACTS ON HOUSING NEEDS |  |  |
 
Our legislators in Washington have responded to National housing market conditions by instituting several housing policy initiatives.
In December the President announced the HOPE NOW Alliance Plan to help certain borrowers facing interest rate adjustments. Also in December, President Bush signed the Mortgage Debt Cancellation Relief bill passed by Congress, designed to waive income tax on forgiven mortgage loan amounts.
Congress passed and President Bush signed the Economic Stimulus Package in February which, among other things, includes increased loan limits for FHA, Fannie Mae, and Freddie Mac. Provided are links with specific details on all three of these important Federal Housing Policy issues.
PRINCE GEORGE'S COUNTY ASSOCIATION OF REALTORS®
GENERAL MEMBERSHIP MEETING
WITH LT. GOVERNOR ANTHONY BROWN
Wednesday, April 30, 2008
7963 Annapolis Rd., Lanham, MD
sponsored by the PGCAR Commercial Committee
5:30 p.m. Registration · 6 p.m. Dinner · 7 p.m. Program
FREE to PGCAR Members ~ RSVP HERE! |
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| EMERGENCY LEGISLATION SIGNED TO PROTECT HOMEOWNERSHIP |  |  |
Governor O'Malley signed emergency legislation on Thursday, April 3 to help thousands of Maryland homeowners who are at risk of losing their homes and to prevent future generations of homeowners from losing their homes due to foreclosure or predatory loans. MAR participated in the Governor's Homeownership Preservation Task Force prior to this General Session to help ensure proper protection of homeownership rights. The measures include the following:
- Real Property - Recordation of Instruments Securing Mortgage Loans and Foreclosure of Mortgages and Deeds of Trust on Residential Property bill;
- The Real Property - Maryland Mortgage Fraud Protection Act; and
- The Protection of Homeowners in Foreclosure - Prohibition on Foreclosure Rescue Transactions - Enforcement.
Details of each bill and full article >>
| DID YOU KNOW? |  |  |
March home sales statistics are Now Available at PGCAR.com!
The latest home sales statistics are usually available on the 6th of each month, or the first business day after the 6th.
Visit the REALTOR® Resources Statistics Page!
| VOLUNTEER FOR A NAR COMMITTEE | | |
Members! The National Association is now accepting recommendations for committee service in 2009. We encourage you to nominate yourself and others whom would make good leaders.
For NAR committee leadership positions, please go to the NAR Governance: Committees section of REALTOR.org. There you will find a direct link to the Online Committee Recomendation Database, a PowerPoint Committee Leadership training presentation, and other Committee Leadership Orientation Resources.
All committee recommendations must be submitted via the Online Committee Recommendation Database on REALTOR.org. Deadline for submission is May 27, 2008.
| REGISTER NOW - GRI STARTS THIS FRIDAY | | |
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Learn more to earn more in 2008.
PGCAR is offering GRI Series 100, 200, and 300.
Sign up for all 3, and be eligible to earn your GRI this year! |
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| CONTINUING EDUCATION | | |
Join us for a timely topic tomorrow evening, "Pre-Qualifying Home Buyers" and for required Ethics training on Wednesday. You can earn ALL of Your Continuing Education requirements for both the Maryland and DC license renewals right here at PGCAR -- Now that's easy!
Pre-Qualifying Home Buyers
1.5 MD Elective CEU |
Kenneth Bossard |
6:00 pm - 7:30 pm |
MD Code of Ethics
3 MD Required Ethics CEU; 3 DC Elective CEU |
Larry Hudson |
1:30 pm - 4:30 pm |
GRI Series I - FULL SERIES of 5 Classes
30 Elective CEU, MD |
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8:30 am - 4:00 pm |
GRI Series I - Module 101:
Building a Real Estate Business
6 Elective CEU, MD |
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8:30 am - 4:00 pm |
GRI Series I - Module 102: Prospecting & Listing Techniques
6 Elective CEU, MD |
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8:30 am - 4:00 pm |
GRI Series I - Module 104: Basic Residential Financing
6 Elective CEU, MD |
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8:30 am - 4:00 pm |
GRI Series I - Module 103: Fair Housing & Cultural Issues; and MD Law, Ethics, Flipping & Predatory Lending
MD CEU - 6 hours covering 1.5 Fair Housing, 3 Ethics, 1.5 hrs Elective |
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8:30 am - 4:00 pm |
Lead Base Paint Legislation
3.0 MD Required Legislative OR 3.0 MD Elective CEU |
Walter Clews |
6:00 pm - 9:00 pm |
GRI Series I - Module 105: Marketing Methods
6 Elective CEU, MD |
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8:30 am - 4:00 pm |
Photography for REALTORS®
No CEUs |
Joseph Pruden |
6:00 pm - 8:00 pm |
GRI Series II - FULL SERIES of 5 Classes
30 Elective CEU, MD |
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8:30 am - 4:00 pm |
GRI Series III - FULL SERIES of 5 Classes
30 Elective CEU, MD |
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8:30 am - 4:00 pm |
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Code of Ethics Case Study: Case #10-4:
Use of "Choose Your Neighbor" Marketing Letters
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REALTOR® A listed a property in a new subdivision. At the instruction of his client, Seller X, REALTOR® A did not file information on the listing with his Board's MLS, did not place a "For Sale" sign on the property and did not advertise the property in the local newspaper. Seller X had told REALTOR® A that he wanted the sale handled quietly, with the new purchasers being people who would "fit into the neighborhood - people with the same socioeconomic background" as the other residents of the subdivision.
Based on his conversation with Seller X, REALTOR® A's only marketing effort was mailing a letter to the other residents of the subdivision, inviting them ". . . to play a part in the decision of who your next neighbor will be. If you know of someone who you would like to live in the neighborhood, please let them know of the availability of this home, or call me and I will be happy to contact them and arrange a private showing."
REALTOR® A's marketing strategy came to the attention of REALTOR® B, whose mother lived in the subdivision. REALTOR® B filed a complaint charging REALTOR® A with a violation of Article 10 of the Code of Ethics.
At the hearing, REALTOR® B told the Hearing Panel of receiving a copy of the marketing letter from his mother, who had recently moved to the subdivision. REALTOR® B advised the panel that he had checked the Board's MLS for information on the property, had driven past the house to look for a "For Sale" sign and had scanned the Sunday real estate section of the local newspaper for information on the property. Finding no mention of the property in either the MLS or the newspaper and noting the absence of a sign on the property, REALTOR® B concluded that REALTOR® A's marketing strategy was to limit access to the property to individuals preselected by the current residents. "In my mind," said REALTOR® B, "this could only mean one thing. REALTOR® A was deliberately discriminating against home seekers from other areas, or those with different backgrounds, who would never have the opportunity to learn about the house's availability. Obviously, REALTOR® A was directing all of his marketing energies into finding purchasers who would not disrupt the ethnic and economic character of the neighborhood."
REALTOR® A defended his actions by advising the panel that he was acting on Seller X's instructions. Seller X appeared as a witness for REALTOR® A and confirmed this fact, adding that he and the other residents of his block had an informal agreement that they would try to find "suitable" purchasers for their homes if they ever decided to sell. Seller X felt that by broadening the marketing campaign to include all residents of the subdivision he had increased the chances of finding such potential purchasers.
Based on your understanding of the Code of Ethics Article 10, how do you think the Professional Standards Panel ruled?
Find out here >>
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SPOTLIGHT SPECIAL
BE IN THE SPOTLIGHT FOR FREE!
That's right. Write an article that would be of interest to real estate consumers and submit it to Karey Major for a chance to be published in the Official Homes Section of The Prince George's County Association of REALTORS®, brought to you by The Gazette. This is a special pullout FULL COLOR supplement reaching over 127,000 homes and businesses in Prince George's County.
| Article Deadline |
Today, April 7 |
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Ad Copy Deadline |
Tuesday, April 8 |
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Publication Date |
Thursday, April 24 |
If you are interested in writing an article or placing an ad, please contact
Karey Major at 240-473-7588 or kmajor@gazette.net.
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| NAR MIDYEAR LEGISLATIVE MEETINGS & TRADE EXPO... | | |
Join in the National Association of REALTORS®'s 100th birthday celebration during the 2008 Midyear Legislative Meetings & Trade Expo. The event will be held May 12-17 in Washington, DC. And best of all, IT'S FREE!
Register now >>
| LENDERS, REALTORS® & DEVELOPERS BREAKFAST — This Thursday | | |
Join others from Prince George's County this Thursday, April 10, at the James R. Cousins Municipal Center (8600 Glenarden Parkway, Glenarden, MD 20706) from 9 a.m. to Noon. Registration is required. Please call 301-883-HOME to RSVP. Sponsored by The Housing Authority of Prince George's County.
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