• 2012 HCAR Membership Dues
• 2011 - 2012 Officers and Directors
• Happy 50^th Anniversary HCAR!
• 2011 Annual Award Recipients
• NFIP Set to Expire . . . Again

• Congress Debating Loan Limits
• FREE MRIS Training @ HCAR
• Required Legislative Update CEU
• October 18 Installation Photos
• Updated Maryland Contracts Reminder

The 2012 local, state and national dues are: Howard County Association of REALTORS®   $223 Maryland Association of REALTORS®   $170 National Association of REALTORS®   $155 Voluntary RPAC Contribution     $25 Total   $573 We appreciate your continued support of HCAR, and look forward to continuing to serve you and our industry well throughout 2012!

A $50 late fee will be added to non-paid dues on December 1, 2011.

An additional $100 reinstatement fee will be assessed on non-paid dues January 1, 2012. (Total past due fees as of 1/1/12 will be $150 = $50 late fee + $100 reinstatement fee.) But we have been giving you plenty of notice, so it's easy to pay on time and avoid the late fees!

Thank you to the large number of members who have already renewed! Renewing now saves yourself late fees, ensures that your SentriLock and other membership benefits are here for you to enjoy, and saves your Association processing and reminder fees.

 
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Congratulations to the Howard County Association of REALTORS^® 2011 - 2012 Board of Directors, installed during the 50^th Anniversary Celebration and Annual Membership Meeting held October 18 at Turf Valley Resort.

2011 - 2012 Officers and Directors

President	David Vane, Weichert REALTORS® - New Colony
President-Elect	Jim Hyatt, Exit Results Realty
Secretary	Marilyn Rhodovi, Long & Foster Real Estate Inc.
Treasurer	Kathy Malone, Franklin American Mortgage Company
Past President	Kenny Smallwood, RE/MAX Advantage Realty
Directors for Two-Year Terms	Scott Berngartt, George Mason Mortgage, LLC Teri Deane, RE/MAX 100 Carol Gamble, Century 21 Associates Judi Gordon, RE/MAX Advantage Realty Richard Green, Presidential Mortgage Group Renee Mankoff, Weichert REALTORS® - New Colony Kelly Renfro, RE/MAX Advantage Realty

We also congratulate the 2010 - 2011 Board of Directors, and the HCAR Committee Chairs and volunteers. Thank you for a successful year! We look forward to building upon our strong foundation for an even more amazing 2012!

 
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In honor of HCAR's 50th Anniversary and HCAR's continuous service to the real estate industry, its members, and the community, HCAR received several proclamations from our national, state and county leaders. HCAR received official proclamations and congratulations from U.S. Senator Ben Cardin, the Maryland House and Senate, Howard County Executive Ken Ulman, the Howard County Council, and the National Association of REALTORS®. You can see all of the Anniversary Proclamations received by HCAR by visiting our Association office. During the 50th Anniversary Celebration held October 18, HCAR received additional accolades from NAR Treasurer Bill Armstrong and MAR President Pat Terrill, who both congratulated us for our 50 year history and challenged us to continue setting the standard in Association excellence and political and community involvement. And last but certainly not least, County Executive Ken Ulman declared October 18 as HCAR Day in Howard County! Congratulations to all of our members, staff, and to our prestigious group of Past Presidents! For more photos visit: hcar.org/photoalbum/2011/installation.htm and hcar.org/photoalbum/2011/hcar_proclamation.htm

 
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Congratulations and a heart-felt THANK YOU to our Award Winners. We appreciate everything that you do for the Howard County community, our industry and HCAR!

REALTOR® of the Year - Kenny Smallwood Rookie REALTOR® of the Year - Renee Mankoff Affiliate of the Year - Scott Berngartt Community Service - Julia Mattis President's Award - Patty Smallwood Robert H. Kittleman Award - County Executive Ken Ulman

 
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On October 4, Congress extended the National Flood Insurance Program (NFIP) by including it within the continuing resolution, but only through November 18, 2011. To avoid a lapse or end to this valuable, cost saving program the Senate must pass the 5-year reform bill (H.R. 1309) and resolve any differences with the House before November 18.

There are 5.57 million NFIP policies in force nationwide, insuring $1.25 trillion in property. From 1990 to 2005, flood disasters were declared in every state. YOU can make a significant difference in less than 5 minutes. Please Take Action Today and request that Congress reauthorize the NFIP, an alternative to expensive taxpayer-funded disaster relief, for 5 years.

 
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Current FHA loan limits decreased from $560,000 to a maximum of $494,500 in Howard County as of September 30, 2011. The Senate has since voted 60-38 to approve an amendment to restore the higher limits on FHA backed home loans. The bipartisan amendment introduced by Senators Menendez (D-NJ) and Isakson (R-GA) would restore the 125% of median area price loan limit through December 2013. The measure still faces tough opposition in the House.

Please use the Call to Action link to urge your Senators and Representative to restore the higher limits as quickly as possible.

 
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Join MRIS trainers at the HCAR Office for FREE hands-on training.

 
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Legislative Updates 3.0 hours Legislative Update (Category A) Wednesday, December 7 9:00 a.m. - 12:00 p.m. Instructor: Colin McGowan Register at hcar.org >

 
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To view more event photos and larger photos click here >

 
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Several legislative bills and Federal rules have changed and are incorporated in the updated contract forms. Please destroy all current copies of the above 3 forms and begin using the new forms dated 10/2011 immediately. Click here for important details and practice tips regarding the new forms and requirements.

In addition, we emailed previous alerts that currently, a broker must return deposit monies to the buyer who rescinds the Contract of Sale in a timely manner based upon HOA or condominium disclosures. This is required unless, in the good faith opinion of the broker, there is a bona fide dispute between the buyer and the seller as to the timeliness of the written rescission.

Effective October 1, 2011, brokers are required to maintain trust monies (i.e., earnest money deposits) in an account authorized by the Maryland Real Estate Commission until:

1. the real estate transaction for which the trust money was entrusted is consummated or terminated;
2. the real estate broker receives proper written instructions from the buyer and seller directing withdrawal or other disposition of the trust money;
3. on an interpleader filed by the real estate broker, a court orders a different disposition; or
4. the buyer and seller fail to complete the real estate transaction for which the trust money was entrusted and the real estate broker, in the real estate broker's sole discretion, elects in good faith to distribute the trust money upon thirty (30) days prior written notice to buyer and seller pursuant to Section 17-505(b) of the Maryland Real Estate Brokers Act.

 
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