REALTOR® WEEKLY UPDATE

Weekly Update on PGPCNPREALTORS.com

November 13th, 2008

Breaking News!

You only have 48 more days to complete your Quadrennial Ethics requirement. All REALTORS® must take NAR Code of Ethics between January 1st 2005 and December 31st 2008. You have one last opportunity to take the required class at our Association Office. We will be offering the Ethics Course as part of our new member orientation on Monday, November 17^th.  You can attend the Ethics portion of the Orientation class from 9am-12pm and earn your required ethics credit. Seating is limited; if you are interested in this opportunity please email David Logan to reserve a space. Course also qualifies for 3 Florida CE credits.

Last Week’s Winner!!

Business Sponsor: Lambert & O'Neill, Inc

Please click HERE to be entered in a drawing to win a $25 Chili’s Gift Card compliments of Lambert & O’Neill. Lambert & O'Neill is a local Builder/Remodeler, with years of experience in Residential and Commercial, New and Remodeling Construction.   They also specialize in Hurricane Shutter/Impact Window Protection, Mold Remediation with Clearance Certification, and Waterproofing for the aftermarket.  They are a Registered Certifying Agent and Members of the Florida Green Building Coalition, emphasizing the practice of energy conservation as they build their final product.  
Many of our Association Members are clients of Lambert & O'Neill both before and after Charley.  Lambert & O'Neill restored the PG/PC/NP Realtors Association, Inc. building and was the Contractor for the 2007 renovation of facilities on the building.  The company has placed strong emphasis on a need by our Realtors to prepare distressed and incomplete properties for the marketplace.  Uncompromising quality, on time delivery, and attention to detail in all their projects has earned them the successful reputation they enjoy. Visit them at www.lambertandoneill.com  or call toll free 877-463-1640.  No project is too small for their interest.

From the President’s Desk

Bill Dryburgh, President

To my fellow REALTORS®,
I received a call from the Charlotte County School Board; they want to host our next general membership meeting. Most REALTORS® know that our local school system is one of the best in the state. It's a shame that not all of our REALTORS® know that fact. The date for this meeting has not yet been set; it should be after the first of the year. Keep an eye out for more information on this later.

Also, a lot of great minds are working on ways to make the housing market strong again. I hope they are successful and all that we have gone through will be a thing of the past. Sell something and be happy!

Education Corner

Unlock the power of Microsoft Office.  All classes are HANDS ON with professional instruction, laptop computer provided. Classes on Outlook, Word, Excel, PowerPoint, and Publisher are taught by our very own highly rated and Microsoft certified instructor Mary Gitzen. Would you like to learn how to make professional flyers, create a targeted email campaign, keep track of your clients and appointments, etc?  Do not miss these valuable opportunities to help expand your business. Visit the Education Calendar for details.

Contract Class: Learn the "why's" of Contract Law; Comparison and Contrasts of the FAR-9 and FAR/BAR Contracts; Step by Step instruction in Completing Contact Forms. Taught by our very own Top Rated Instructor Bill Perrault.  November 20^th 9am – 2pm

Making the most of your Mid-Florida Membership? Sign up for additional training and unlock the tools to help you succeed!  See the list of FREE Mid-Florida educational opportunities. Courses include “Design Web Page”, “iMapp”, “Tools”, “MLXChange Advanced”, etc. Many classes are HANDS ON with laptops provided. Sign up soon, space is limited.

Visit the Education Calendar for full course offering and details.

Business Partners

Our Association is blessed to have an amazing variety of Business Partners who help us serve our clients every day. Our business partner’s also work very hard to help sponsor various Association events which provides everyone with a better experience. When was the last time you contacted one of your Business Partners to find out what is going on in their industry? There is no better resource for your business than Your Business Partners. We are blessed to have professionals from all the affiliated industries which help to support and improve your business. Also, if there is a business that you regularly work with who is not a business partner, ask them why they are not taking advantage of this opportunity and have them email david-logan@comcast.net to get more information. Remember, we are all in this TOGETHER! See the Business Partner page on our website to contact someone today.

Where in the World is……

Women’s Council of REALTORS®

Meetings 1st Wednesday of each month 11:30am

Next meeting: Wednesday December 3^rd at St. Andrews Golf Club in Punta Gorda beginning at 6:00.  We will celebrate the installation of our 2009 officers.  There is no charge for WCR members. Thank you to Brian Chapman State Farm Insurance for sponsoring this event.  We will also be holding our annual Christmas Ornament Exchange and a Chinese Auction.

Don’t miss the Caravan.

A Caravan is a great opportunity to showcase your listing, network with fellow Realtors®, get pricing opinions, and have a good time.  No listing to show…just come along for the ride!

Punta Gorda Caravan – 1st Thursday every month – 8:15am – Home Choice Real Estate - 6101 Duncan Rd. To have your listing included contact Mike no later than noon on the Tuesday prior to the caravan.

Port Charlotte Caravan – 3rd Thursday every month – 8:15am - PGPCNP Association Office **Please note that due to upcoming events and holidays, this caravan will be meeting the 2^nd Thursday until 2009** E-mail Karen Martin two days prior to the caravan date to have your listing included.  Listings can also be faxed to Karen at 941-743-9023.

Market Watch

SHORT SALES & THE NEW FORECLOSURE RESCUE LAW - Does Florida's new Foreclosure Rescue Fraud Prevention Act (F.S. 501.1377) prohibit real estate licensees from being involved in short sales? According to Florida Attorney General Bill McCollum in a letter to FAR President Chuck Bonfiglio, the answer is no, provided the only compensation sought by the licensees is the commission on the sale. The new law, which took effect Oct. 1, 2008, seeks to protect homeowners who face the threat of foreclosure from individuals who would prey on them. McCollum's interpretation is based on the following scenario: A licensee secures a listing agreement on a home for sale, ascertains that the fair market value of the home is less than the loan amount, and lists the property at the lower amount. If a buyer agrees to pay less than the loan amount, the licensee then asks the lender to accept the lesser amount in order to avoid foreclosure. "As long as there is no upfront or other fee for the negotiating service other than the normal real estate fee charged for the sale of the property, that activity [participating in a short sale] would not appear to fall under the provisions of F.S. 501.1377," according to McCollum. Questions? Contact FAR's Legal Hotline at (407) 438-1409. Please have your real estate license number available.

FHA LOANS - Starting Jan. 1, 2009, FHA will insure single-family home mortgages up to $271,050 in low-cost areas, and up to $625,500 in high-cost areas. While the February stimulus package temporarily raised the FHA maximum higher, $625,500 still represents a significant increase over the original $362,790 limit.. Read the full story HERE.

Commercial Market Changes - Commercial fundamentals have shifted, and not in a good direction, said NAR Chief Economist Lawrence Yun at the 2008 Realtors Conference & Expo in Orlando. A disruption in the capital markets cancelled or postponed a number of commercial real estate transactions. Read the full story HERE.

Flood Insurance Changes - New high-tech maps are forcing many U.S. homeowners to buy flood insurance for the first time, while others who have had coverage are being cleared to drop their policies. The changes are part of FEMA's multiyear plan to digitize its Flood Insurance Rate Maps to make them more accurate and easier to update. Read the full story HERE.

Florida REALTOR Store Clearance - Looking for bargains? Check out the Realtor Store's big Liquidation Sale, going on today until Friday, Nov 14. You'll find savings up to 90 percent on some items you use every day in your business. And here's a special discount: Take an extra 50 percent off your order of $100 or more with this coupon code: NOV2008. To shop the sale, go to: www.RealtorStore.biz . If you experience technical difficulties viewing the store site, call the FAR Tech Helpline at (407) 587-1450 or e-mail support@living.net for assistance

MLS TIP of the WEEK

New Password Retrieval Function. In an ongoing effort to improve security for our members, on November 18, 2008 MFR will implement a new secure Password Retrieval feature in MLXchange.  Members will automatically be prompted through a setup wizard to create their secret questions and answers.  You will need to enter your password and then choose a secret question. Once this has been done, if you forget your password you will be able to click on the “Forgot your Password” link under the Password field on the login screen.  You will be required to answer your secret question and your password will be emailed to your primary email address. MLXchange and in the upper right corner, click on Settings, then choose Personalize and then click on Contact Information.  Additionally if you would like to change your secret question in the future this can be done by choosing “Change Secret Question” by clicking on Settings and then Personalize.

Real Estate Trivia

Last Week’s Question