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RELATED LINKS
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Online Newsletter
June 2011
Did you know...
That William Hanna of Ellicott City was the 1st President and Marguerite Vaughn, also of Ellicott City, was the 1st Secretary when the Howard County Real Estate Board (now HCAR) was chartered on November 16, 1961.
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HCAR Legislative Breakfast
This Thurday, June 2
8 - 10 a.m. at the Slayton House
Register for only $10 ~ for members only >
Members - come enjoy a delicious breakfast by Dish & Design Catering, and take the opportunity to personally meet the following people who are representing us and making decisions for our industry and homeowners at the state and county levels.
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| Maryland General Assembly |
| Senator Edward Kasemeyer |
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Senator Allan Kittleman |
| Senator James Robey |
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Delegate Gail Bates |
| Delegate Liz Bobo staff member |
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Delegate James Malone, Jr. |
| Delegate Warren Miller |
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Delegate Frank Turner staff member |
| Howard County Council |
| Council Member Greg Fox |
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Council Member Mary Kay Sigaty |
| Council Member Courtney Watson |
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| Howard County Executive Office |
| Director of Policy & Legislative Affairs, David Nitkin |
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HCAR Bowling Night!
Next Wednesday, June 8
4 - 6 pm |
HCAR YPN invites you to a fun evening of Bowling
to benefit Gilchrist Hospice of Howard County.
Your $5 admission provides 2 Hours of Bowling, Shoe Rental, Networking,
and best of all, a donation to the Gilchrist Hospice of Howard County!
Register today >
A LIMITED NUMBER OF TICKETS WILL BE SOLD!
Sign up as a sponsor, and you'll help assure even
MORE proceeds go to the Gilchrist Hospice.
Join our sponsors >
Bowling Location: Brunswick Normandy Lanes, 8419 Baltimore National Pike
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2011 MAR Annual Conference & Tradeshow
Register by June 15 |
EARLY BIRD RATE!
Register by June 15 for $195.
Save $80 on full 3-day conference price.
September 12th - 14th
Ocean City, Maryland
- Up to 15 hours of premier Continuing Education (CE)
- Monday Keynote & light lunch with Steve Harney, Keeping Current Matters
- FREE Conference Gift - ABS flashlight with auto tool kit
- Rookies (up to 4 years since licensed) receive $50 off 3-day registration
- YPN event ($10), more "Learning Labs", more grand prize winners!
More value–National Speakers–Networking–Exciting Tradeshow
Conference Homepage
Hotel Information
Schedule (PDF)
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Contract & Legal Advisory:
New Changes to Treatment of Earnest Money Deposits |
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In August 2010, an advisory was released by the Maryland Real Estate Commission regarding the return of earnest money deposits by real estate brokers in residential real estate transactions where the property is located in and subject to a Home Owners Association or is a condominium.
Specifically, the Maryland Real Estate Commission advised that a real estate broker may return the earnest money deposit to a buyer without a written release of deposit agreement signed by both the seller and the buyer in those instances where the buyer timely rescinds the Contract of Sale, in writing, based upon the receipt of the required disclosures from the seller and/or the condominium or Home Owners Association ("HOA").
In light of this advisory by the Maryland Real Estate Commission, the Maryland Association of REALTORS® ("MAR") revised paragraph 19 of the MAR Residential Contract of Sale form.
EFFECTIVE OCTOBER 1, 2011, THIS WILL ALL CHANGE!
During the 2011 Session of the Maryland General Assembly, House Bill 1109 was enacted which amends the Maryland Condominium Act, the Maryland Home Owners Association Act, and the Maryland Residential Property Disclosure/Disclaimer Act to clarify that, notwithstanding any language in the three (3) Acts to the contrary, a broker who holds earnest money deposits shall maintain the earnest money deposit in the broker's trust account pursuant to Section 17-505 of the Maryland Real Estate Brokers Act.
For complete details on the legal requirements for ALL Maryland brokers regarding earnest money deposits, log in to www.hcar.org Members Only >
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| June CEU Offerings |
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Visit the
Education & Events calendar
at the new HCAR.org
to register for all your required
and elective Maryland CEU hours.
Here's just a sampling.
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*3-hour Broker Supervision Requirement - Effective January 1, 2012 – House Bill 83 (2010 Legislative Session) requires all brokers, branch office managers and team leaders to complete a 3-hour continuing education course on the requirements of broker supervision as part of the hours of education required for license renewal. The supervision course requirement must be fulfilled once every 4 years for license renewals that occur after January 1, 2012.
MREC released further clarification this month, and has stated that the newly required classes must be completed during your license renewal due between January 1, 2012 and December 31, 2013. See hcar.org for a CEU requirements chart, and the Maryland Real Estate Commission's web site for further information.
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| MRIS Training @ HCAR |
Join MRIS trainers at the HCAR Office for FREE hands-on training classes.
Success with Stats, Hands-on Training
This Thursday, June 2 • 9:30 am - 12:30 pm
Matrix Tips & Tricks, Hands-on Training
This Thursday, June 2 • 1:30 pm - 4:30 pm
To register, go to www.mris.com/training, select the desired class title, click "go" and you will see the link to register. For training questions or inquiries, please email training@mris.net.
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| Free Maryland Mortgage Program Training Offered by State |
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Do you know about the Maryland Mortgage Program (MMP) which offers up to $5,000 downpayment assistance and affordable 0-point mortgages to qualified Maryland homebuyers? The Maryland Community Development Administration offers free training on this program, usually on a monthly basis. The next CDA workshop is next Wednesday, June 8.
Details and registration >
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| Thanks for Saying No! |
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Thank you for responding to last week's call to action asking Congress to ask our Federal regulators NOT to require a 20% down payment from homebuyers.
Over 140 Representatives and 40 Senators have now signed letters of concern to the governing regulatory agencies. The regulators are being asked to implement a more reasonable Qualified Residential Mortgage (QRM) that will keep credit-worthy buyers in the market and able to acquire a loan.
Visit the hcar.org Legislative Update Center to learn more about county, state and federal issues.
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| Ease FHA Rules on Condo Purchases |
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FHA's condominium portfolio is performing extremely well, but loans are hard to get, so NAR and a coalition of partners are asking FHA to increase liquidity in the market by modifying its rules on owner-occupancy, FHA concentration, and investor ownership. It's also asking for rule modifications on pre-sales, delinquent HOA assessments, and commercial space.
HCAR President Kenny Smallwood has met with Dave Stevens, former HUD Assistant Secretary for Housing/FHA Commissioner on these topics. HCAR is also working closely with NAR on the delinquent HOA assessments issue.
For more info contact Jerome Nagy, 202/383-1233.
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| The Community Action and REALTOR® Excellence (CARE) Award |
The CARE Award is given to Local Associations excelling in community service and charitable actions. The award is designed to raise the profile of REALTORS® and the REALTOR® organization by focusing on Associations that have demonstrated an extraordinary record through direct local Association community service involvement. The activities compiled by the Association may include endeavors by REALTORS® who are part of a group, team, office, or an individual of that local Association. The winning local Associations will receive the following cash contribution to the charity of their choice:
| Winner |
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$10,000 |
| 1st Place Recognition |
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$5,000 |
| 2nd Place Recognition |
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$1,000 |
This award will not be given to an individual.
Nominations are submitted by the local Associations.
HCAR Submission Deadline is: Friday, June 10, 2011.
Click here for the application form.
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| HCAR Awards - Application Deadline Extended |
The Rookie REALTOR® of the Year Award recognizes a REALTOR® in the business four years or fewer, who has demonstrated excellence in knowledge, work production, civic activity, and service to their local, state, and/or national associations. All submissions for the HCAR Rookie ROTY will also be entered into the state-wide MAR competition.
Application form >
The HCAR and MAR Community Service Awards honor individual REALTOR® members who give their time unselfishly to assist the communities in which they live. All submissions for the HCAR Service Award will also be entered for MAR award consideration.
Application form >
The REALTOR® of the Year (ROTY) Award criteria requires that nominees must sign the application to verify that it is accurate and complete. The person selected as HCAR REALTOR® of the Year will also be entered in the MAR competition.
Application form >
All Award Applications are due at HCAR before 5 pm on Thursday, June 16, 2011.
For Award Application submissions:
Email to staff@hcar.org (an electronic copy is preferred),
or drop off at HCAR
5501 Twin Knolls Road, Suite 111
Columbia, MD 21045
Questions? Feel free to call the HCAR Staff at 410.715.1437.
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| Food Donations and Help Needed Monthly |
HCAR Members will be preparing dinner for the 51 residents of the Howard County Grassroots Crisis Intervention Center on the 2nd Thursday of each month.
Our next dinner is Next Thursday, June 9!
If you're interested in donating food or helping with preparation, please email deb@thecampinscompany.com.
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| Save the Dates! |
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RENO Day Returns Wednesday, October 5
Annual Meeting & 2012 Board of Directors Installation Luncheon
will be held Tuesday, October 18
Details to follow!
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