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The Greater Philadelphia Association of REALTORS® (GPAR), founded in 1908, is the most influential professional real estate association in Philadelphia. more
GPAR Gazette 11-14-11
The GPAR Gazette
November 14, 2011******Issue 390
Brokers and Managers Please Distribute to ALL Agents
Another Benefit of Membership!
A note from the desk of GPAR Chief Executive Officer, Diane A. Lucidi…
Thank you all for your continued support of our Association. I am very interested in meeting all of you to advise you on the happenings of GPAR and answer any questions you may have. This goal is achieved primarily through office visits. If you are interested, call (215) 423-9381, Ext. 105 to arrange for a date and time.
The following individuals and/or offices have made application to the Association for membership. Pursuant to the Association’s Bylaws, any comments from REALTOR® members of the Association need to be put in writing and submitted to the Chief Executive Officer for receipt by Monday November 28, 2011:
REALTOR® Members: Stephen C. Burke, Re/Max Access; Amy V. Cestone, Higgins & Welch; Susan Ear, Credent Real Estate; Khanh Hoang, Credent Real Estate; Robin Kint, Keller Williams- Center City; Karl J. Klotzbach, Coldwell banker Preferred; Netanel Levi, Prudential Fox & Roach; Anne C. McGrath, Elfant Wissahickon REALTORS; Billie Motto, Coldwell Banker Preferred; Kareen K. Mungin, Coldwell Banker Preferred; Michael O’Brien, MYPhillyCONDO; Christina R. Scott, Coldwell Banker Preferred; Sarah L. Shaffer, Prudential Fox & Roach; Alena Sounders, OCF Realty LLC; Art Urbany, Walter M. Wood; Kelly A. Victory, Coldwell Banker Preferred
FOR YOUR INFORMATION:
On October 6th, 2011, GPAR’s Board of Directors accepted the Nominating Committee’s recommendations for the 2012 Slate of Executive Line Officers. They are as follows:
President: Barbara Capozzi
President Elect: Allan Domb
Vice President: L. Anthony Brown
Secretary: Michael R. McCann
Treasurer: Joseph Rey
Legislative Information from National Association of REALTORS®
Beginning January 1, 2013, anew 3.8 percent tax on some investment income will take effect. Since this new tax will affect some real estate transactions, it is important for REALTORS® to clearly understand the tax and how it could impact your clients. It's a complicated tax, so you won't be able to predict how it will affect every buyer or seller. Please click the attached link for more information nar_3.8%_tax_brochure-.pdf
Recently NAR participated in New Solutions for America’s Housing Crisis a conference hosted by the Progressive Policy Institute and Economic Policies for the 21st Century (e-21)two well-respected policy think tanks.
The conference brought together policy leaders, industry representatives, Members of Congress, thought leaders and the media to present ideas and make actionable recommendations intended to stimulate the growth necessary for a sustained recovery in housing and extend an ensuing positive effect on job creation and the broader economy. NAR has endorsed many of the bipartisan ideas and recommendations that came out of the meeting and has urged Congress and the Administration to undertake their consideration promptly.
Please visit www.realtor.org/housingsolutionsfor details about the proposal, copies of the letters NAR has sent and links to Progressive Policy Institute and Economic Policies for the 21stCentury (e-21).
The Greater Philadelphia Association of REALTORS now has a website www.gparcares.com. We created this website to show all of our charitable and volunteer activities. Please visit the website to register for one of our events and to also gain some information about upcoming events and how you can help.
TO ALL BROKERS:
Surveys have been sent to all brokers regarding electronic standard forms. If you have not done so already, please return your survey responses to .(JavaScript must be enabled to view this email address).
TO ALL MEMBERS:
We are currently looking for Key Contact team Members for Council Members, State, and Senate. The most important aspect of being a member of the Key Contact team is having a POSITIVE ONE ON ONE personal relationship with your District City Council member, State Representative, State Senator or House Representative. This relationship promotes a sense of mutual respect and familiarity. Aside from maintaining this relationship, Key Contacts are called on to perform other functions as well. This could include any of the following:
- Attending in-district fundraisers for your Councilmember, House Member or Senator; with funding from PhilPac
- Responding to Calls to Action
- Visiting your Councilmember, House Member or Senator in his/her district
- Remaining current on legislative issues
- Attending occasional training sessions
- Developing REALTOR support for your Councilmember, Senator or House Member
- Volunteering on your Councilmember, Senator or House Members campaign
- Other activities that further promote a positive relationship
If you are currently a Key Contact person and would like to remain or not remain a Key Contact Member please email Maureen Smith at .(JavaScript must be enabled to view this email address). If you would like to volunteer for the Key Contact team please email Maureen as well with your information.
REALTOR® Reach-Out Month and GPARneeds your help! We have extended Reach-Out Month. The last day for donations will beFRIDAY, NOVEMBER 18, 2011. The Greater Philadelphia Association of REALTORS® will be working closely with Philabundance and PAWS to raise awareness and provide support to both of these great causes in our local community. Philabundance (http://www.philabundance.org) helps drive hunger from our communities and PAWS (http://www.phillypaws.org) is dedicated to saving Philadelphia’s homeless, abandoned and unwanted animals.
***The REALTOR® community in Philadelphia has a very strong presence in the surrounding neighborhoods and we are asking for your help!***
We are asking for help with the following:
- We are requesting that a “drop box” be placed in your office to collect non perishable items.
- We are accepting monetary donations.
- We are asking for your help by volunteering your time during the collection, stocking and packaging of goods at the local Philabundance warehouse.
This is a great opportunity for all GPAR members. Your help will not only benefit the community, but also may help your business as well. Below are three great reasons why you should participate in this campaign:
- Community – most importantly, your support and efforts will help humans and animals in the Philadelphia community.
- Visibility– your local office will gain visibility in your neighborhood and with local media. As part of the campaign GPAR will be emphasizing various events by doing media highlights; for example, with PAWS we will do a press event at a volunteer REALTOR® office and have adoptable pets there ready for placement.
- Reconnect – by participating in this campaign, it may allow you to reach out to your database of current and past clients to let them know you are personally helping the local community. This connection may stimulate interest for buyers or sellers of homes.
The GPAR Task Force will work with each office to coordinate the delivery and pick up of the “drop boxes” and the contents to be collected.
NOTICE OF FHA LOAN LIMIT EFFECTIVE OCTOBER 1, 2011 THROUGH DECEMBER 31, 2011
This provides notice of the posting of the comprehensive update to the Federal Housing Administration’s (FHA) single-family loan limits which are effective on or after October 1, 2011 through December 31, 2011. These limits apply to forward mortgages insured under section 203(b)(2) of the National Housing Act and reverse mortgages insured under section 255 (Home Equity Conversion Mortgages (HECM)). A mortgagee letter providing further guidance has been issued August 19, 2011.
For Forward Mortgages, the FHA floors for the period October 1, 2011 through December 31, 2011 are $271,050, $347,000, $419,425 and $521,250 for 1-, 2-, 3- and 4-unit dwellings, respectively. The FHA ceilings are $625,500, $800,775, $967,950 and $1,202,925 for 1-, 2-, 3- and 4-unit dwellings, respectively. For all other areas, i.e., those where 115 percent of the median home price for the area is in between the floor and the ceiling, the limit shall be at 115 percent of the median home price. For areas under Section 214 of the National Housing Act (Alaska, Guam, Hawaii and the Virgin Islands), higher ceilings of $938,250, $1,201,150, $1,451,925 and $1,804,375 for 1-, 2-, 3-, and 4-unit dwellings, respectively, apply.
For HECMS, the maximum claim amount will remain at $625,500.
As HUD is not updating median prices at this time, there is no appeal period associated with the change of loan limits on October 1, 2011.
For calendar year 2012, HUD does expect to announce proposed maximum mortgage amounts in November 2011. Once the principles set forth in the Mortgagee Letter announcing the loan limits that take effect on October 1, 2011, there will be no further declines in any loan limits for 2012, absent a change in authorizing legislation. As all locality specific maximum mortgage amounts are ultimately tied to the so-called national conforming loan limit of 12 USC 1454(a)(2)(C), and that limit may only go up and not go down over time, county-level loan limits under current statutory authority may only go up in the future and not go down.
Complete schedules of FHA mortgage limits for all areas for forward mortgages will be available through the downloadable file links found at https://entp.hud.gov/idapp/html/hicostlook.cfmThe website also provides a current look-up tool that will have the capability of finding loan limits for periods in 2011 and 2012. Please read these FHA Maximum Mortgage Limit FAQs: http://portal.hud.gov/hudportal/documents/huddoc?id=faqfha.pdf
If you have questions regarding this notice, please call FHA’s Resource Center at 1-800-CALL-FHA (1-800-225-5342). Persons with hearing or speech impairments may access this number via TDD/TTY by calling 1-877-TDD-2HUD (1-877-833-2483). You can also get email technical support on FHA mortgage limits at: .(JavaScript must be enabled to view this email address)or by visiting: www.hud.gov/answers
Roth IRA Conversion Clarification
In a recent issue of the Isdaner Insights newsletter there was an article about reversing 2010 Roth IRA Conversions entitled "Pay Attention to the Deadline for Reversing 2010 Roth IRA Conversions."
A Clarification to the section "Reconverting after a Reversal" is needed.
A traditional IRA that results from the re-characterization of a Roth IRA may be re-converted to a Roth IRA in the future, so long as the new conversion does not take place until after the later of:
1. 30 days after the re-characterization from Roth to Traditional IRA; or
2. The beginning of the tax year following the year during which the re-characterization took place.
For example, a calendar year taxpayer who re-characterizes a Converted Roth IRA back to a Traditional IRA on December 1st of any year can make a new conversion to a Roth on the first business day after January 1st of the following year or the first business day thereafter. On the other hand, a taxpayer who re-characterizes on October 15th of one year is forced to wait until the first business day of the following year, which is about a 1 1/2 month increase in the waiting period.
OPTIONAL INSTALLMENT PAYMENT PLAN FOR 2012 DUES-in an attempt to alleviate the financial burden of paying your membership fees in full we are offering an optional installment payment plan for the 2012 REALTOR® dues. Please contact Charlotte at 215-423-9381, Ext. 106 or .(JavaScript must be enabled to view this email address)
SAVE THE DATE
All of the below seminars will be held at the GPAR headquarters. Please register through Schlicher-Kratz Institute, www.learnrealestate.com
Thursday, January 19, 2012 9:00 a.m. – 5:00 p.m. THE BIG PICTURE: General Module, Instructor John Becker
Thursday, January 26, 2012 9:00 a.m. – 5:00 p.m. GAINING INSIGHT of the Residential Market: Residential Module, Instructor John Becker
BOTH CLASSES ARE APPROVED AS A REQUIRED COURSE FOR “NEW LICENSEES”
Triple Play Convention and Expo will be held December 6, 7 and 8, 2011 in Atlantic City. If you would like to attend you can either register online at www.realtorstripleplay.comor fax your registration to 301-694-5124.
NAGLREP is proud to invite you to our 1st annual LGBT Cocktail Party during the Triple Play REALTOR Convention and Expo 2011 in Atlantic City, New Jersey.
WHEN:Wednesday, December 7th from 5-7pm
WHERE:The Continental @ The Pier Shops at Caesars (A Stephen Starr Restaurant) http://www.continentalac.com
FACEBOOK:http://www.facebook.com/event.php?eid=160480347374666
RSVP:Simply email reply to .(JavaScript must be enabled to view this email address)or .(JavaScript must be enabled to view this email address)to add your name to our guest list and the 1st drink and Tapas are on us. If you are not in the area and cannot attend, please share our Facebook event page with a friend local to the area who may attend the convention so they have a fun party to go to http://www.facebook.com/event.php?eid=160480347374666
Our happy hour will be a hip cocktail party where vintage elegance is the rule, not the exception. Channel your inner rat pack -- and remember -- What happens in AC, stays in AC!
To learn more about NAGLREP and our mission of both advocacy and business, please visit http://www.naglrep.com
DRESS CODE: Upscale Casual
CUISINE: Global Tapas
PARKING: Parking available through Caesars valet and in the self parking lot located at the Pacific Avenue entrance of the hotel.
The Continental Atlantic City is a Stephen Starr restaurant. For more information, please visit http://www.ContinentalAC.com
SAVE THE DATE;
ANNUAL GENERAL MEMBERSHIP MEETING FRIDAY, NOVEMBER 18, 2011, 8:30 – 11:30 A.M.
Register today!!! The Greater Philadelphia Association of Realtors Annual General Membership meeting will be held on Friday, November 18, 2011, 9 a.m. to 12 Noon, at the Sheet Metal Workers’ Union located at 1301 South Columbus Boulevard. Continental Breakfast with Guest Speaker Kevin Gillen Economist. Roundtable/Educational Sessions to include: Team Building, Short Sales, Social Media, Internet Marketing, Internet Fraud, TReND, Zoning, Standard Forms and Tax Assessments. A free 3.5 hour continuing education course on Ethics & Etiquette will take place from Noon until 3:30 p.m. (LUNCH IS NOT INCLUDED). The continuing education course is only available to members who register and attend the General membership meeting. This course will also satisfy NAR’S Quadrennial Code of Ethics requirement for Cycle 3 (ending December 31, 2012). PRE-REGISTRATION IS REQUIRED in order to receive a certificate of completion for continuing education.
Use your Verizon iPhone as a Lockbox Key- the Verizon iPhone uses the same eKEY adapter as the AT&T version. Adapters can be purchased from your Board or MLS, or from Supra directly using the online ordering tool within SupraWeb. The retail price is $54.95, plus tax applicable shipping, handling cost and taxes. The eKEY for iPhone application can be downloaded from the Apple App Store. It is the same download as used for the AT&T iPhone.
Lockbox Abuse- It has come to our attention that lockboxes are being tampered with and left without a key. Please be reminded that the box holder is solely responsible for the property and the ONLY person who should relay the code. We encourage or members to use the electronic lockbox through Supra. Keys and boxes are available at your Association office.
Did You Know?Did you know that you can update your personal information, preferred mailing and specialties on the website? Visit www.gpar.organd sign in to explore these options.
As a Benefit of Membership- we are very excited to present an incredible opportunity to GPAR members who do not have prescription coverage or whose prescription medication may not be covered by your insurance company. For no cost at all,just because you are a member of GPAR, you can receive aFREETrustscripts card which gives you discounts from 10-85% off the regular cost of most prescription medicine at more than 58,000 pharmacies across the country. In addition to receiving a card for yourself, you can also provide these to your family, friends and clients. This offer is a win-win for everyone and GPAR is delighted to share it with all of you. The Trustscripts cards are here at GPAR Headquarters. Please call the Association or email me to arrange pick up schedule. TRUSTSCRIPT TESTIMONIAL- “I just used my card for the first time. My usual script is $43.00. Today, it was $25.00! Thanks to all of you who advocated for making this card available to our membership” (Please forward any testimonials to .(JavaScript must be enabled to view this email address))
MEMBERS: JOIN US ON FACEBOOK on our group page, Philly REALTORS®
SCHLICHER KRATZ CLASSES - PRE-LICENSURE CLASSES:
Location: 1341 N. Delaware Avenue, Suite 200
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Real Estate Fundamentals: |
Real Estate Practice:
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Tuesday & Thursday 6:00PM-9:45PM |
Tuesday & Thursday 6:00PM-9:45PM |
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November 15,17,22, 29, December 1,6 ** This class STARTS on a Thursday. There will be no class Thursday, November 24 |
January 2012 17,19,25+,26,31,February 2,7,9 +This class is on a Wednesday.
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WEEKEND CLASS SCHEDULE: Saturdays & Sundays |
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January 14, 15, 21, 22, 28, 29 |
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Morning Session 8:00AM-1:00PM |
Afternoon Session 1:00PM-6:00PM |
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Notice to all REALTOR® members: Effective January 1, 2008, the National Association of REALTORS® mandates that all REALTOR® members provide their current home address as well as a valid e-mail address. Any members who do not provide this information will no longer receive their state and national publications. You may check your current information by logging into www.gpar.org. The website will also allow you to make changes to your personal information. If you have any questions concerning this new mandate, please contact Donna LePera at 215-423-9381, extension 104.
National Association of REALTORS® member guide/membership card has gone digital! Wondering why you haven’t received your NAR member guide this year? NAR has created a digital membership guide and membership card, which will allow you to customize your experience. Go to http://memberguide.realtor.orgto print yours today!! Your membership card will give you access to member discounts (you may view these benefits my clicking the tab “Benefits Program”) and will make registration at national and/or state association events easier.
The site will offer you five membership card options with the ability to have up to six designations printed on the card. You can print the card from your computer or display it on your smart phone. In addition, iPhone and iPad apps will be available in the near future.
REMINDERS:
GPAR Staff: Please feel free to contact any of our staff regarding each of their disciplines:
Diane Lucidi- Chief Executive Officer
Charlotte Korman- Director of Finance
Donna LePera- Director of Member Services
Cheryl Adams- Professional Standards Administrator
Maureen Josaphouitch-Smith, Director of Government Affairs