REMINDER: ALL FLYERS ARE INCLUDED IN THE WEEKLY BROKER FAX

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 completing a survey.

• Complete an online 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!

Community Service Update

• CAR, along with the help of the students from a local high school, donated their time to sell T-shirts for the Ocean City Boosters and raised over $7,000 last weekend.
• Our next project will be the Annual Beach Basket Drive for the "Children By The Sea." The baskets or beach bags should be filled with brightly colored items the families can use while they are visiting the Ocean City Children By The Sea house and take home with them. Some suggestions are: Beach towels, all sorts of sand toys, puzzles, coloring books, crayons, games, disposable cameras, and bubbles. You may call Pat Terrill with Prudential Carruthers-WOC at 443-497-2332 or Terry Testani with Shamrock Realty Group at 866-641-3611 for pick up.

NAR Midyear Meetings & Trade Expo
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.

MAR Committee Sign-Up
The 2007-2008 Committee Volunteer Form is now online. If you are already on a MAR committee, you do not automatically retain your status—you MUST fill out a form for next year. The form has been changed somewhat, and submissions are only being accepted online. Deadline for submissions is May 21. Please do it ASAP to retain a seat on your selected committees. The direct link is http://www.mdrealtor.org/cvf2007.aspx.

GRI 200 Series
The GRI 200 Series has been scheduled for May and will be held at the association office.

Come one, come all to "Learn More, Earn More!" According to the 2005 National Association of REALTORS® Member Profile survey, REALTORS® with a designation earned a median income of $82,900 while members without a designation had a median income of $40,900.

Please refer to the Web site for specific dates and times, as well as to register. 

CAR Quarterly Newsletter Deadline
DEADLINE FOR AD RESERVATION & ARTICLE SUBMISSION: FRIDAY, MARCH 30
CAR is pleased to announce the creation of its new printed quarterly newsletter, CURRENTS. The inaugural issue will arrive in member mailboxes in late April.

• Advertise to more than 1,300 REALTORS® in the tri-county area. Rates are detailed in the advertising packet.
• Want to annouce a promotion, new agents, retirements, special achievements, births, or more? Make a submission to the Member Spotlight section.Send all questions, feedback, article ideas or annoucements to
  editor@coastalmdcurrents.com.
  

Realtors® Seek to Protect Home Buyers From Predatory Lending and Educate Them on Mortgage Products
NAR told a Senate panel that abusive and predatory lending practices are putting our nation’s communities at risk. Read more...

Ocean Pines HOA Documents
$20 HOA Document Package vs. $250 HOA Document Package!

Section 11.B-106(b) of the Real Property Article, Annotated Code of Maryland, which addresses the resale of property subject to a homeowners association, requires the seller to provide the purchaser with eight (8) separate disclosure items. 

The following eight (8) disclosure items are required:

• Bylaws
• Covenants and restrictions; current monthly fees or assessments imposed by the HOA
• The amount of fees, assessments and/or other charges imposed by the HOA during the prior fiscal year
• A statement of whether any fees, assessments or other charges against the lot are delinquent
• The name, address, and telephone number of the management agent of the HOA or other officer or agent authorized by the HOA to provide to members of the public, information as required by the Act or a statement that no officer or agent is presently so authorized by the HOA
• A statement as to whether the owner has actual knowledge of the existence of any unsatisfied judgments or pending lawsuits against the HOA
• A statement by the owner as to whether they are aware of any pending claims, covenant violation actions, or notices of default against the property; and
• The Articles of Incorporation

Other than the Bylaws, Articles of Incorporation, the Declaration and all recorded covenants and restrictions, the remaining information is set forth on a Resale Certificate, typically, from the management agent of the HOA.

The $250 HOA Document Package provided by the Ocean Pines Association provides all the information as required by Section 11.B-106(b). In addition, the $250 fee provides that an inspector from the Ocean Pines Architectural Review Committee will inspect the property for any violations under the Declaration and covenants and restrictions applicable to the property as required by the Act.

The $20 HOA Document Package which provides bylaws, covenants and budgets does not comply with all the required disclosures under Section 11.B-106(b).

CAR Legal Counsel Al Monshower has advised us that only the $250 HOA Document set complies with the requirements of Section 11.B-106(b).  Accordingly, agents and sellers of property in Ocean Pines should only obtain the $250 set to fully comply with the mandatory requirements under the HOA Act.