CAR Weekly Update

Attention Brokers & Managers
Just a reminder that there will be MLS vendor demonstrations held at the Roland E. Powell Convention Center in Ocean City FRIDAY, FEBRUARY 23, from 9 a.m. to 1 p.m. All brokers and managers are STRONGLY ENCOURAGED to attend and may bring a guest. We ask that you please contact the association office if you wish to attend since space is limited. The association office will be closed from 8:30 a.m. to 1:30 p.m. on this day.

1031 Exchange Class
There has been a 1031 Exchange Class scheduled for Tuesday, February 27, from 10 to 11:30 a.m. The class is approved for 1.5 hours of required Legislative CE credits. The class will be held at the association office. Please refer to the Web site for further details and registration.

ARIS Classes
There have been ARIS classes scheduled through May. Please refer to the Web site for further details and registration

We Want to Know About Your Volunteer Efforts!
Every year, CAR members volunteer thousands of hours of their time to charitable causes. This year CAR will again be recognizing everyone who has contributed to his or her community in the summer issue of Currents. Now is your time to shine—tell us what you did for your favorite community, school, charity or non-profit organization by clicking and completing this survey. Everyone who completes the survey will be recognized and will entered into a drawing to win a $50 GAS CARD! And, any information will be used to help CAR win another MAR C.A.R.E. Award!

Mark Your Calendars

Please make note of the following Women’s Council of REALTORS® events.

Misrepresentations of Listings
Please make sure that you are correctly entering the information for your listings. Problems have been occurring in the following areas:

New Constructions—A new construction is defined as “any property that is one year or less.” Any property that was constructed prior to this cannot be listed as a new construction. This also applies to properties that have undergone remodeling.
Bedrooms—If a garage or a den has been transformed into a bedroom, it needs to be in compliance with the city’s codes. If it does not comply, then the property needs to be listed as it was in its original state.

*Failure to comply with these rules is considered misrepresentation and is a violation of the Code of Ethics.

Consumers Jittery, Confused About Home Prices
Consumers appear jittery about a longer term prospect of home price declines and somewhat confused about home price declines in the near future. Full Story>>>

How to Sell A Highly-Appreciated Home Tax-Free (or Almost)
It’s been 10 years since Congress brought us the homeowner gain exclusion deduction—one of the most powerful and useful tax-saving tools ever given to homeowners. Full Story>>>

NAR Midyear Meetings Registration Now Open
Once again this year, NAR’s Midyear Legislative Meetings and Trade Expo will be held in Washington, DC. The meetings are scheduled for May 14-19 and registration for the event is now open online. Click for more information or to register today.

Credit Smart™—Train the Trainer
Thursday, March 1, from 9 a.m. to 3:30 p.m.
This new credit literacy program developed by Freddie Mac is being offered by MAR’s Equal Opportunity Committee. Learn how to educate consumers about maintaining good credit, credit scoring, and money management. Get insight into how lenders assess credit histories. Learn how to explain the role of credit in achieving financial goals, including purchasing a home. To register, e-mail Kara Ardison at kara.ardison@mdrealtor.org. Location: Anne Arundel Community College, Arnold Campus, Center for Applied Learning & Technology, Room 100.

Subprime Lenders Facing Problems
With delinquencies continuing to rise across the nation and many large lenders being forced into buybacks, several subprime lending companies are facing financial distress. Consumer groups have blamed lax underwriting standards and risky loan terms in past years for the rising rates of foreclosures and delinquent loans. Click here to read more.