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RELATED LINKS
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Online Newsletter
December 2011
2012 HCAR Membership Dues
Final Deadline is December 31 |
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HCAR dues billing is once again paperless and green.
Click here to make your payment using our secure and easy online payment system >
Billing details:
Dues invoicing is online at www.hcar.org. The first invoice notice was emailed to members on October 6. Payment for the current membership year starting November 1, 2011 and ending October 31, 2012 was due as of November 1, 2011.
Total past due fees as of January 1, 2012 will be $150 = $50 late fee + $100 reinstatement fee. But we have been giving you plenty of notice, so it's easy to have already paid on time or renew now to avoid a lapse in membership!
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The 2012 local, state and national dues are:
| Howard County Association of REALTORS® |
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$223 |
| Maryland Association of REALTORS® |
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$170 |
| National Association of REALTORS® |
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$155 |
| Voluntary RPAC Contribution |
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$25 |
| Total |
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$573 |
Thank you to the large number of members who have already renewed!
To non-renewed members, please renew today at www.hcar.org >
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| Legislative Victory - FHA Loan Limits Restored! |
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Congress passed legislation on November 17 and President Obama signed the legislation on Friday, November 18 to restore FHA loan limits for 2 years. The reinstated FHA loan limit formula and cap change will help make mortgages more affordable and accessible for hard-working, middle-class families in 669 counties in 42 states and territories, where the average loan limit reduction after the reset last month was more than $68,000. The maximum FHA loan limit in Howard County has been restored from the lowered limit of $494, 500 which went into effect on October 1, 2011, back to its former limit of $560,000.
2012 NAR President Moe Veissi reminds us, "I know that when we work together we can accomplish anything we set our minds to in order to preserve, protect and defend the American Dream of Home Ownership."
Thank you for your support of homeownership! More details >
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Take Action to Protect Affordable Flood Insurance Program
Now Due to Expire December 16, 2011 |
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The same bill reinstating FHA loan limits also saved the National Flood Insurance Program (NFIP) from expiring on November 18, but only through December 16, 2011. Please urge Congress to reauthorize the NFIP for 5 years. The NFIP ensures access to affordable flood insurance for millions of home and business owners across the country.
Take Action Today >
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| Help Wanted - Join an HCAR Committee! |
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HCAR committees are already doing exceptional work planning high value events for 2012. We invite you to join in.
By being involved, you will learn more about the REALTOR® education process, legislative influence and successful event organization. You'll also meet and gain valuable relationships with knowledgeable and enthusiastic REALTOR® and Affiliate members.
Sign up for a committee using our online volunteer form! (Login required.)
Congratulations to our 2011 - 2012 Committee Chairs.
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| New Form - Option to Purchase Lease Agreement |
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MAR released a new Lease Option Agreement in late October. This new form can be used to specify purchase price, option fees, credit towards purchase price for rents and/or fees paid, timeframe of option, broker's fee and other details of an option to purchase, extended by an Owner to a Tenant.
Visit hcar.org Members Only for the new lease option agreement.
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| Get on the Bus to MAR Legislative Day |
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Save the date for Wednesday, January 25 when the HCAR Young Professionals Network will sponsor a bus to whisk HCAR members in comfort and style to the annual MAR Legislative Day. No driving, no parking fees needed. Just a small contribution and your RSVP will be required.
Come meet your legislators, and learn about issues important to you and our industry!
Details coming soon to www.hcar.org >
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| Required Legislative Update CEU |
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Legislative Updates
3.0 hours Legislative Update (Category A)
This Wednesday, December 7
9:00 a.m. - 12:00 p.m.
Instructor: Colin McGowan |
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| FREE MRIS Training @ HCAR |
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Join MRIS trainers at the HCAR Office for FREE hands-on training.
Maximize Your Productivity with MRIS
This class introduces the often overlooked tools and features available as an MRIS customer benefit that are designed to save you time and money.
Thursday, December 15 • 9:30 am - 12:30 pm
XactSite 101
Not sure where to start with your newly purchased XactSite? Learn how to set-up your website including photo and logo upload, domain set up, and search engine optimization basics.
Thursday, December 15 • 1:30 pm - 4:30 pm
To register, go to www.mris.com/training, and click on the name of a course you wish to attend. You will then see the login to register. For MRIS training questions or inquiries, please email training@mris.net.
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| Freddie Mac Updates |
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Freddie Mac Amends Short Sale Affidavit Policy - At the request of NAR and the American Land Title Association (ALTA), Freddie Mac has amended its short sale affidavit policy. The purpose of the affidavit is to prevent fraud by requiring the buyer, the seller, the real estate brokers, the escrow/closing agent, and any transaction facilitator to make various certifications (including that the short sale is an arm's length transaction and the buyer will not resell within 120 days unless there are substantial improvements).
Policy changes will be mandatory as of January 1, 2012; however, servicers are encouraged to implement the changes immediately. NAR also advises members to make sure that any short sale affidavit they sign is an updated form. If presented with an old form, members should request the servicer to update or allow amendments to the form before signing, to avoid potential liability issues. Details >
3% to Buyers and $1,000 Selling Agent Bonus - Freddie Mac is offering a Winter Sales Promotion on offers submitted by owner-occupant purchasers between November 15, 2011 and January 31, 2012 with escrow closed by March 15, 2012. See this and other incentives at www.homesteps.com >
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Legislative Alert -
Lead Paint Liability of Rental Property Owners and Property Managers |
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The Maryland Court of Appeals Declares Housing Act Provisions Immunizing Landlords from Lead Paint Liability are Unconstitutional
On October 24, 2011, in the case of Jackson v. Dackman Co. et al. (Md. App., 2011), the Court of Appeals of Maryland held that the immunity provisions of the Reduction of Lead Risk in Housing Act ("the Act"), which provide compliant landlords with qualified immunity from tort liability under specified circumstances, violate Article 19 of the Maryland Declaration of Rights ("Article 19").
Article 19 generally protects two related rights: (1) a right to a remedy for an injury to one's person or property and (2) a right of access to the courts. The Court interpreted Article 19 to prohibit unreasonable restrictions on traditional remedies or access to the courts.
The Court concluded that the substituted remedy under the Act for a child permanently brain damaged due to the child's ingestion of lead-based paint in the rental property was totally inadequate and unreasonable to ameliorate the harm done. The Court also held that the unconstitutional provisions of the Act could be severed from the remainder of the Act leaving all other provisions unchanged.
As with pre-1950 properties, qualified immunity from tort liability no longer exists. Continuance of registration and performance of the risk reduction activities at each change in occupancy may assist in the demonstration of due care on the part of the property owner. Owners, authorized agents and property managers dealing with affected properties are urged to consult with their attorney to determine the appropriate course of action. Details >
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