Printable Version      Email to a Friend

Back to REALTOR® Connection Archive

June 1, 2010

I N   T H I S   I S S U E . . .
   

 

SFR Certification Core Class

6 CEU SFR Designation Class
Tomorrow at PGCAR

Wednesday, June 2
9 a.m. - 4:30 p.m.

Maneuver the complexities of short sales, master the opportunities, learn how to evaluate options for distressed homeowners, and counsel buyer-clients in purchasing foreclosures.

  • Earn your Short Sales and Foreclosures Resources (SFR) certification with just this core class,
    3 FREE 1-hour webinars plus your application
  • an ABR designation elective
  • worth 6 elective MD CEU if you score at least 80% on the test at end of class

Only $75 for this full-day designation class.

Registration & Details >>     PDF Flyer >>

 
 
Short Sales - Help Bring Clarity to a Confusing Process

 
REALTORS® Help Counsel Distressed Sellers Through Short Sale Process

The short sale process is critical to restoring stability for individual sellers, and the economy, yet it remains confusing. NAR Midyear attendees had an opportunity to attend a Short Sales Advisory Forum detailing default options, as well as the important issues and risks to consider regarding short sales and foreclosures. More about the Forum >

Several resources are available to help you counsel buyers and sellers through a successful short sale transaction.

 
 
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

PGCAR Hosts the 2010 Housing Fair:
Building Livable Communities
Next Saturday, June 12
9 a.m. to 3 p.m.


FREE HOUSING FAIR NEXT SATURDAY
at the Sports & Learning Complex
8001 Sheriff Road
Landover, MD 20785
FREE! Make your reservation here >>

Learn all you need to know about being a successful homeowner.

FREE Seminars!      FREE Information!
FREE Exhibits to Visit!

All Industry professionals and the Public are welcome.
Interested homebuyers, homeowners and home sellers will be able to ask questions of various mortgage lenders, housing counselors, and other home services providers with no pressure.

Click here for flyer >>

Please help spread the word to customers, the real estate industry,
neighbors and the public!

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Exhibit ~ Or Be a Sponsor.
All Sponsors receive an exhibit booth and advertisement opportunities.

Sponsor and Exhibitor details are in the Exhibitor's Guide >>

Exhibit space will be assigned in order of completed reservation and payment.

Return completed reservation from Exhibitor's Guide with payment
~ OR ~
Choose exhibitor or sponsorship level and pay online >>

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Be a Hero — Volunteer.
Volunteers are still needed for the Housing Fair. Greet visitors, answer visitor questions -- it's all needed and important. Volunteer with the Housing Affordability Committee today to be a part.

 
Who shall be named Prince George's
REALTOR® OF THE YEAR?

It could be you, or someone you know whom exemplifies leadership and service.
But you first have to submit a nomination!

One ROTY application will be submitted by PGCAR to be entered in the MAR competition. The winner of the State Award will be sent to the National Association of REALTORS® (NAR) for consideration in the national award. Could we see a Prince George's REALTOR® honored in Ocean City or New Orleans this year?

Click here for the REALTOR® of the Year Award application >

Click here for nomination details >>

 

COMMUNITY SERVICE AWARD
Introducing the PGCAR Community Service Award! This award will honor individual REALTOR® members who give unselfishly of their time to assist the communities in which they live. There is no limit to the number of entries that can be submitted from any office. Please nominate those you know who contribute above and beyond. Self nominations are highly encouraged! All nominees submitted to PGCAR will also be submitted to MAR for consideration at the state level.

REALTOR® of the Year and Community Service Award nominations
MUST be received by 5 pm on Monday, June 14, 2010

at jostenso@pgcar.com or the PGCAR office.

POSITIVELY NO LATE SUBMISSIONS WILL BE ACCEPTED!

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

M.A.R. CARE AWARD
PGCAR members give back to their communities every day in a number of different ways; they are coaches, mentors and scout leaders. They deliver Meals on Wheels, work on Habitat and Christmas in April homes, form March of Dimes teams. We have many REALTOR® companies that raise money every year for a favorite charity and collect food, coats and toys.

Encourage everyone to share what they do for the community! Sharing your volunteer and fundraising efforts can help win MAR's CARE Award -- which gives us $10,000 to use for whatever cause we select!

 
We can't win if you don't tell us what you are doing!

Click here for an online form >    Here for a PDF form >

Due Next Wednesday, June 9, 2010.

 
Prevent New Tax Burdens on Real Estate

Call for Action Congress is considering new tax proposals which would add costs and reporting burdens on owners and investors in residential and commercial real estate.

The real estate industry is still very fragile and likely to remain so. In better times, the real estate industry would be a dynamic engine of job creation. Any new tax burdens on real estate owners will impair and delay further recovery. These proposals are ill-advised, inopportune and potentially destructive. Please take action today to tell Congress "No New Real Estate Tax Burdens."

Click here to take action on this issue >>

 
 

2011 OFFICERS AND DIRECTORS
NOMINATIONS NOW OPEN
Click here to apply online!

Are you, or someone you know, interested in serving as a member of the 2011 Prince George's County Association of REALTORS® Board of Directors? The PGCAR membership will elect:

  • a President-Elect,
  • a Secretary, and
  • four (4) Directors to serve two-year terms.

All terms begin on October 1, 2010. 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 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
  • must have served on a PGCAR standing or special committee for two full years or two separate standing or special committees for one full year during the last four years.

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. Interested in having your name considered by the Credentials Committee for inclusion on the ballot? Please complete the Online Candidate Form or you can print and fax a candidate form.

Forms must be received in the Association office by 5 p.m. Friday, July 9.

Printed forms may be submitted by fax at 301-306-8273 or by e-mail to pgcar@mris.com.

 
$35,000 in Closing Cost and Down Payment Assistance

  1. June 30 Settlement Deadline!
    $6,500 / $8,000 Homebuyer Tax Credit
    - For all buyers who entered a binding contract for a new or replacement principal residence by April 30, 2010, now is the time to help make sure they can make the settlement deadline of June 30, 2010. Help them with necessary guidance and communications now . . . don't procrastinate until June.

    Homebuyer Tax Credit Basics >>
    How to Get the Homebuyer Tax Credit >>
    Homebuyer Tax Credit IRS Q & A >>

  2. Veterans Homeownership Initiative - State pilots assistance program for veterans to affordably buy vacant properties in Prince George's County.

    Forward this pgcar.com link to eligible veterans >>

  3. College Park $35,000 Program - Homebuyers who buy their home and work in College Park may apply to receive up to $35,000 in closing cost and down payment assistance through the WORK & LIVE COLLEGE PARK program.

    College Park Details >>

  4. Bowie $2,000 Program - Police officers, teachers and Bowie City employees can apply for a $2,000 grant when buying a primary residence in Bowie.

    Bowie Program Details >>

  5. County-wide Incentives for Sheriffs and Police - Deputy Sheriffs, and County and Municipal Police Officers Save on Transfer Taxes When Buying a Home in Prince George's County.

    Details >>

  6. $60,000 County-wide Down Payment on Your Dream Program - Buying a foreclosure in Prince George's County? Don't forget assistance of up to $60,000 is still available for targeted income brackets through NSP.

    Details >>

Visit www.pgcar.com for national, state, county and township programs which SAVE HOMEBUYERS MONEY.

Mortgage rates are still near the all-time low and there are unbelievable home buyer incentives -
It's a great time to buy in Prince George's!

 
 

 

NSP REQUIRED HOMEBUYER'S CLASS Offer a Class that Helps Buyers Qualify for NSP Funds for Their Home Purchase

In partnership with HOPE and HIP, PGCAR is offering three June sessions for your homebuying customers.

These 8-hour HUD approved sessions are mandatory for the extended, expanded benefits NSP program, and provide information that will help prospective homebuyers be successful homeowners.

 
Saturday, June 19 9:00 a.m. - 5:00 p.m. Offered by HOPE, $50 cost
RSVP by calling 301-567-3330.
Tuesday, June 22 (Part I) and
Thursday, June 24 (Part II)
5:30 p.m. - 9:30 p.m. Offered by HOPE, $50 cost
RSVP by calling 301-567-3330.
Saturday, June 26 9:00 a.m. - 5:00 p.m. Offered by HIP, FREE
RSVP by calling 301-699-6262.

 
 
SHORT SALES CERTIFICATION, REQUIRED TOPICS CEU, AND MORE!

Earn ALL of your required Continuing Education hours for Maryland and DC license renewals -- and your GRI -- here at PGCAR. In relevant topics which are kept current for TODAY's Real Estate Market. Don't miss this June's special offerings! They don't come around every quarter.


This Wednesday, June 2
Short Sales and Foreclosures:
What Buyer's Representatives Need to Know

SFR Core Course;
6 Elective CEU, MD Based Upon Exam
various 9:00 am - 4:30 pm

Next Tuesday, June 8
203K Purchase Rehab
3 MD Elective CEU
Everett Sands 9:30 am - 12:30 pm

Next Friday, June 11
MD Legislative Update
3.0 MD Required Legislative Update CEU;
3.0 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

Tuesday, June 15
Reverse Mortgages
Bruce Winstead
Bruce Winstead 6:00 pm - 7:30 pm

Wednesday, June 23
Stay Current on FHA & RESPA
3 MD Elective CEU
Pat Miller 9:30 am - 12:30 pm

Friday, June 25
MD Code of Ethics
3 MD Required Ethics CEU;
3 DC Elective CEU
Don Martin 9:30 am - 12:30 pm

GRI 200 Series Begins August 4
GRI 200 Series
6 MD Required Legislative Update and 21 MD Elective CEU
various 8:30 am - 4:00 pm

GRI 300 Series Begins November 3
GRI 300 Series
13.5 MD Required Legislative Update and 12 MD Elective CEU
various 8:30 am - 4:00 pm

Full CEU Schedule >>

 
 

Code of Ethics Case Study: Case #4-6:
Disclosure of Secured Interest in Listed Property

Buyer X was interested in purchasing a home listed with REALTOR® B but lacked the down payment. REALTOR® B offered to lend Buyer X money for the down payment in return for Buyer X's promissory note secured by a mortgage on the property. The purchase transaction was subsequently completed, though REALTOR® B did not record the promissory note or the mortgage instrument.

Within months Buyer X returned to REALTOR® B to list the property because Buyer X was unexpectedly transferred to another state. REALTOR® B listed the property, which was subsequently sold to Purchaser P. The title search conducted by Purchaser P's lender did not disclose the existence of the mortgage held by REALTOR® B since it had not been recorded, nor did REALTOR® B disclose the existence of the mortgage to Purchaser P. The proceeds of the sale enabled Buyer X to satisfy the first mortgage on the property, and he and REALTOR® B agreed that he would continue to repay REALTOR® B's loan.

Following the closing, REALTOR® B recorded both the promissory note and the mortgage instrument. When Purchaser P learned of this, he filed an ethics complaint alleging that REALTOR® B had violated Article 4 by selling property in which she had a secured interest without revealing that interest to the purchaser.

Based on your understanding of the Code of Ethics Article 4, how do you think the Professional Standards Panel ruled?

Find out here >>

 

Register by Today, June 1st to save!
Early bird rate for full 3-day Conference Attendee is $195.
$50 discount applies for all ROOKIE REALTORS®.

MAR has assembled an excellent lineup of educational offerings you won't want to miss!

15 hours of CE in 2 ½ days

  • Nationally known presenters — Terry Watson, Gee Dunsten, Amy Cherow
  • Opportunities to NETWORK, NETWORK and NETWORK!
  • Breakfasts; Exhibit Hall Grand Opening; Light Lunch, Happy Hour and a Brunch during the conference

Book now for discounted hotel & condo rates too!

Prince George's County Association of REALTORS®
8400 Corporate Drive  :  Suite 225 : Landover MD 20785
Phone 301-306-7900  :  Fax 301-306-8273  :  www.pgcar.com  :  ©2010, PGCAR

Back to REALTOR® Connection Archive