Connections May 2016 by REALTOR® Association of Central Massachusetts

Connections Central Massachusetts Association of REALTORS®

May 2016 Inside this Issue: PRESIDENT’S MESSAGE President’s Message

Month at a Glance

Fellow REALTORS® & Business Partners,

Featured Affiliate: Wintrust Mortgage

EVP Receives RCE Designation

Wow did April come quick AND leave quickly! It was a great month at CMAR. We had record-breaking attendance at our Awards Banquet with approximately 375 guests. It was a wonderful event and I challenged all of the attendees to donate a backpack this summer to the Backpack Drive.

Professional Development 9-18 Membership News

19-20

CMAR Awards Luncheon

21-26

REALTOR® Day on the Hill 27 REALTOR® Night at Fenway

28 24

Golf Tournament

CREST

Local Market Update

Legal Hotline

Community Action

CMAR Mission Statement The purpose of the Central Massachusetts Association of REALTORS® is to: Provide REALTOR® members with the resources that enable them to serve the public in an ethical and professional manner

Congratulations to all of the award winners: Erika Hall REALTOR® of the Year; Mary Gale, Natalie Quinlan Distinguished Service Award; Christopher Brown, Rookie of the Year; Jim Black, REALTORS® Choice; and Kristin Walther, Affiliate of the Year. It was a great group of members winning this year! Congratulations to all of the Top Producers and milestone recipients. There is so much coming up for our members. Please check out the new podcast series, "Growth on the Go." The latest covers the DiSC Profile Analysis, which will be followed up with a class on May 5. It’s not too late to sign up -- the class is FREE for CMAR Members. These podcasts are an excellent information resource for our members. Please consider becoming a Major Investor for RPAC this year, if you haven’t already. It is an important part of our industry to protect personal property rights. We have our own bus this year again for REALTOR® Day on the Hill, another great event for our industry. Lastly, our golf tournament has been sold out the last few years and is always a great time. Please consider donating if you are not going to play. Happy Selling!

Kris

Kris Koliss 2016 WRAR President

Take an active role regarding issues affecting sellers, buyers, tenants and landlords.

Central Massachusetts Association of REALTORS® 1 www.cmarealtors.org

CMAR MONTH-AT-A-GLANCE May 2016 Sunday

Monday

Tuesday

Wednesday

Thursday

Friday

Saturday

2 5:30-9:30 PreLicense Class

3 10-12 1031 Exchange

4 10:30 BOD 9:30-12 Code of Ethics

5 4-6 DiSC Assessment

6 7 Habitat Build Day, 8-12 Pre-License Auburn Class

9 5:30-9:30 PreLicense Class

10 11-1 Lunch & Learn w/Fairway Mortgage

11 9:30-3:30 MLS PIN Training

12 12-2 Lunch & Learn w/Peoples Home Loans

17 12-2 Lunch & Learn w/Residential Mortgage Svcs.

18 9 Orientation 6-8:30 Major Investor Night @ Worc Art Museum

19 12-2 Lunch & Learn w/Wintrust Mortgage

20 9:30-3:30 MLS PIN Training

24 12-2 Lunch & Learn w/Prestige Home Mortgage

25 8-2 CREST CEU Classes

Save the Date! REALTOR速 Day on the Hill Date & Time:

Tuesday, June 21, 2016 Bus departs Auburn at 7:30 am

CMAR Annual Golf Tournament Date & Time: Place:

Thursday, June 23, 2016 8:30 am registration; 9:30 am shotgun start Wachusett Country Club

Central Massachusetts Association of REALTORS速 2 www.cmarealtors.org

FEATURED AFFILIATE: WINTRUST MORTGAGE Extraordinary Customer Relationships Grow When You Provide Knowledge! By Amy Tierce Regional Vice President, Wintrust Mortgage NMLS #15695 I read recently that the

customer relationships. In these times of extremely low inventory, the agent with the listing wins every time. Connecting with your homeowners consistently is the best way to stay top of mind when they are considering a move.

recent drop in interest rates has bumped up the “re-fi population” to 6.7 million borrowers from 5.2 million last month, according to a report put out by Black Knight Financial Services.

However, this information regarding declining rates and rising values could also spark a conversation about listings. Research and anecdotal evidence shows that many homeowners do not have any idea what refinancing options are available to them. They are often unaware of the amount of equity in their home and of their personal buying power. There continues to be so much negative press about the How many of those homeowners did you sell a home availability of mortgage credit that people who are to in the last 8–10 years? You now have a very good well qualified to move up don’t believe that they may reason to reach out to your successful homebuyers qualify. You have an opportunity to raise awareness and provide them with this news. For many home- and in the process, generate a couple of listing posowners, the barrier to refinancing was inadequate sibilities! equity, a disruption in employment or simply bad timing in the interest rate markets. When rates were Timely and value-added communication with cuslower people were not in a financial position to refi- tomers is key. This simple act of service could help nance for many reasons. Still for others, it could sim- them save money today or on future mortgage payply be a lack of awareness of the financial markets ments, which could put them on a path to new housand the current interest rate environment. ing opportunities. Ongoing conversations with customers bring more value than any recipe card or Delivering valuable and timely information to your sports team event calendar ever will. clients is one of the best ways to grow extraordinary

Central Massachusetts Association of REALTORS® 3 www.cmarealtors.org

VIP SPONSOR

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Central Massachusetts Association of REALTORS® 4 www.cmarealtors.org

VIP SPONSOR

Find Great Rates at Security First!

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GREAT for Jumbo loans! 1 and 3 caps The initial rate of 2.875%/3.7360% APR is based on a 30 year mortgage with a 20% down payment. At the initial rate, there would be 360 payment of $414.89 on a 30 year, $100,000 loan. Payments do not include taxes and insurance, which will affect your obligation. After the first 60 months, the interest rate may adjust every 12 months, but never more than one percentage point per adjustment period and no more than a total of three points during the life of the loan. Over the life of the loan, the note rate can never exceed 5.875%. If, after 5 years oron the 61st month, the note rate adjusts to 3.875%, monthly payments on a 30 year, $100,000 loan would be $470.24. If after 6 years, the note rate adjust to 4.875%, monthly payments would be $529.21. If after 7 years or maximum rate, the note rate adjusts to 5.875%, monthly payments would be $591.54 – and your rate and payment will never increase further for the life of the loan! Projected interest rate based on current index plus margin and your actual interest rate and payment may be higher or lower. Initial APR is discounted and not based on the current index and margin used for later rate adjustments. The discount does not apply to future rate adjustments.

NMLS# 252771

Call 508-853-3000 www.securityfirstmf.com

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CONGRATULATIONS COLLEEN PAPPAS! Colleen Pappas, CMAR Executive Vice President, was honored at the April State Association Executive Meeting held at MAR for receiving her REALTOR® Association Certified Executive designation. RCE is the only professional designation designed specifically for REALTOR® association executives. The RCE designation exemplifies goal-oriented association executives with drive, experience and commitment to professional growth. Congratulations Colleen! We are proud to have you lead us. Pictured at right is Colleen Pappas with Kris Koliss, CMAR 2016 President.

Central Massachusetts Association of REALTORS® 5 www.cmarealtors.org

SUPRA SPRING SPECIAL Now is the Time to Invest in your Own Lockbox Key or Upgrade Your Lock Box Key Supra Spring Special from April 1 – June 30, 2016. During this time, the $50 Activation Fee is waived on all keys (dKEY, ActiveKEY and eKEY) for all new keyholders. Also, if a new keyholder or existing keyholder upgrades to eKEY, they will receive the free Fob, worth $58.39. In addition, lockboxes are on sale for $40 (checks only - no credit cards) for the lockboxes).

VIP SPONSOR School Zones Email Marketing Agent Profiles Home Searches

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Homesnap Pro gives you a wealth of information on just about any home you search for or “snap” with your phone. Regardless of market status, you’ll see estimated values, photos, appreciation potential, rental analysis, property history, and similar homes for sale. Properties for sale show listing information, photos and schools, plus confidential information like disclosures, exclusions, compensation and more. Homesnap Pro helps keep all your customer communications in one place, and lets you connect with other professionals and view their recent deals. It creates CMAs in seconds, and sets a timer for safety when going on showings. MLS PIN subscribers can share their personal link for their clients to download a self-branded version. Homesnap Pro lets you schedule showings for your properties while on the road, and walk property lines with your clients on showings. Search for Homesnap on the Apple App Store or Google Play, and you’ll be snapping happily in no time! “Best Mobile Tool”

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Central Massachusetts Association of REALTORS® 6 www.cmarealtors.org

VIP SPONSOR

Buying A Home Is A Big Deal Our Mortgage Consultants are local people. They know our area, they know their stuff and they know how to get you the perfect loan.

Meet our Lending officers: Michael Checkosky

Patrick Harvey

NMLS# 719009

NMLS#857465

Southbridge branch 774-318-0864

Charlton branch 774-200-6298

Drop on by.

www.southbridgesavingsbank.com Central Massachusetts Association of REALTORS速 7 www.cmarealtors.org

REAL ESTATE INVESTMENT COACHING

Central Massachusetts Association of REALTORS速 8 www.cmarealtors.org

JOINT CLASS FOR CMAR & RCAMA MEMBERS REALTORS®

Commercial Alliance

Joint Class for CMAR and RCAMA Members:

CEU RE27RC07: 1031 Tax Deferred Exchanges Date: Time: Place: Price:

♦ ♦ ♦ ♦ ♦ ♦ ♦

Tuesday, May 3, 2016 10:00 am – 12:00 pm CMAR, 492 Washington Street, Auburn FREE for members; $20 for non-members

What is a 1031 exchange? Internal Revenue Code Section 1031 Investors can potentially defer 100% of their capital gains taxes, both state and federal Taxpayer Relief Act of 1997 - IRC Section 121 principal residence Delayed exchange How to set up exchange Choosing a qualified intermediary Presented by Tim Halligan of The Exchange Authority

Central Massachusetts Association of REALTORS® 9 www.cmarealtors.org

CODE OF ETHICS TRAINING

The National Association of REALTORS® requires all REALTOR® members to complete a REALTOR® Code of Ethics course during the four year period that ends December 31, 2016.

Code of Ethics Training * * * *

Learn the role the Code should play in your business. Enhance professionalism and competency. Learn how to use the Code as a viable guide. Learn the benefits of Arbitration vs. Litigation For your convenience, CMAR will hold classes on the following dates. All classes are FREE for CMA members, and 2 CEU’s will be awarded. Weds., May 4 Weds., June 1 Weds., August 31 Weds., October 12 Sat., November 19 Weds., November 30 Sat., December 10 Weds., December 14 Weds., December 28

9:30 am - 12:00 pm 1:00 - 3:30 pm 9:30 am - 12:00 pm 1:00 - 3:30 pm 19, 12:30 - 3:00 pm 9:30 am - 12:00 pm 12:30 - 3:00 pm 1:00 - 3:30 pm 9:30 am - 12:00 pm

Alternately, you may take online training on the NAR website at http://www.realtor.org/code-of-ethics/training. NO CEU’s are awarded for these online classes.

Don’t wait until the last minute. Fulfill your requirements early! You may register online at www.wrar.org or call the office at 508-832-6600. The Central Massachusetts Association of REALTORS® 492 Washington Street * Auburn, MA 01501 Central Massachusetts Association of REALTORS®

10 www.cmarealtors.org

PROFESSIONAL DEVELOPMENT

Effective Communications

The Central Massachusetts Association of REALTORS® Professional Development Committee Brings you...

A Workshop using the DiSC Personality Profiling System

The Workshop Focus Effective Communication utilizing the DiSC Assessment to connect and win more business Building Productive Teams through trust, healthy conflict, clarity in commitment, accountability and collective results

- Doesn’t like to be rushed - Calm manner - Calm approach - Supportive actions - Humility

- Shows enthusiasm - Is optimistic - Likes to collaborate - Dislikes being ignored

L AB O R AT I O N

C S

COL

C H AL L E N G E

D i

- Sees the big picture - Can be blunt - Accepts challenges - Gets straight to the point

- Enjoys independence - Objective reasoning - Wants the details - Fears being wrong

TS L U

AC TI O N

P SU

S T ABI L I T Y

Presented by Ray Eickhoff Dr. DiSC NMLS #2289

Date: Thursday, May 5, 2016 Time: 4:00 - 6:00 pm Place: CMAR, 492 Washington St., Auburn, MA Cost: FREE for CMAR Members; $30 for all others The DiSC Assessment is required; if you already have one, please bring it with you.

11 www.cmarealtors.org

PROFESSIONAL DEVELOPMENT

LUNCH & LEARN Presented by Bill Murphy CEU RE47R05: Residential Mortgage Loan Market & Credit Today

You will learn…

 Renovation Lending  2016 market outlook and what to expect with interest rates  New ways to grow market share  Improving client credit scores  5 ways to help sellers list now!

#1 Mortgage Originator in Central MA -Banker & Tradesmen

Lunch and refreshments will be served courtesy of Attorney Jessica Albino

Location: Central Massachusetts Association of REALTORS® 492 Washington St. Auburn, MA 01501 When: May 10, 11:00 am ‐ 1:00 pm ‐ Registration at 10:30 RSVP ONLINE: http://www.wrar.org/events.html    



F a i rw a y I n d e p e n d e n t Mortgage Corporation 783 Southbridge St. Au b u r n , M A 0 1 5 0 1 508-407-8300 w m u r p h y @ f a i rw a y m c . c o m w w w . f a i rw ay m o r t g a g e n e . c o m

 

Three types of Renovation Lending Preapprovals vs. Pre-Qualifications Learn about the new changes to mortgage financing, loan programs and guidelines in 2016. New projection of interest rates from market analysts and the impact on your buyers' loan programs and purchasing power - What factors will drive rates? Gaining market share from the newest generation of home buyers o The fastest growing home owners market is Generation X and Y o Learn how to appeal to millennials How to improve the buyers' credit scores and maximize their loan options Updates for FHA, VA, Conventional, USDA and MA Housing

Manage Expectations + get more loans closed!

This information is not intended to be an indication of loan qualification, loan approval or commitment to lend. Other limitations may apply. ©2014 Fairway Independent Mortgage Corporation NMLS ID#2289 (www.nmlsconsumeraccess.org) EQUAL HOUSING LENDER.

Central Massachusetts Association of REALTORS®

12 www.cmarealtors.org

PROFESSIONAL DEVELOPMENT

The top 6 things your mortgage Banker won’t tell you...

Or Doesn’t Know.

You Are Invited To A Peoples Home Loans

Lunch and Learn! Earn 2 CEU’s - RE25RC08: Financing

Thursday, May 12th | 12PM to 2PM Central Massachusetts Association of REALTORS® 492 Washington Street | Auburn MA 01501 Register at www.cmarealtors.org/events.html

6 Subjects That Will Be Covered: 1. 2. 3. 4. 5. 6.

TRID Early Issue Closing Disclosures Steps To Improve Credit Scores Understanding Appraisal Valuations Secured Credit Cards and Establishing Credit When Is A Written Verification Of Employment Typically Needed In Place Of Verbal Verification Gifts and Why We Ask For Their Donor’s Bank Statement

Questions about the ever-changing market? Contact me today. We will be the clear guide through the mortgage industry. CEU’s sponsored by McLaughlin, Richards, Biller and Schindel, LLP

Home Loans

A DIVISION OF PEOPLES BANK KANSAS

Your Local Peoples Mortgage Bankers: Michael Dutra

Regional Sales Manager NMLS 13530 Direct: 508.372.9176 Cell: 401.486.6894 mdutra@bankingunusual.com

Chris Galli

Mortgage Banker NMLS 13152 Direct: 877.373.2614 Cell: 508.450.6873 cgalli@bankingunusual.com

Julie Galli

Mortgage Banker NMLS 13150 Direct: 877.373.2614 Cell: 508.864.6064 jgalli@bankingunusual.com

Jarod DiSanto

Mortgage Banker NMLS 14982 401.533.1303 jdisanto@bankingunusual.com

701 Ginesi Drive | Morganville, NJ 07751

bankingunusual.com Central Massachusetts Association of REALTORS®

NMLS 690890 Member FDIC

13 www.cmarealtors.org

PROFESSIONAL DEVELOPMENT The Central Massachusetts Association is proud to present to its members

REALTOR® SAFETY & SELF DEFENSE CLASS Friday, May 13, 2016 4:00-5:30 pm America’s Best Defense Martial Arts Academy 274 South St. , Shrewsbury, MA 01545 FREE, HANDS-ON class for CMAR members Register at cmarealtors.org/events.html Instructor Corey Buzzell will introduce you to the Israeli Self defense system, Krav Maga. As a community we believe in “common sense before self defense.”

You will learn Awareness, proactive and prevention techniques. Striking techniques & common attacks and how to defend against them. Hands-on opportunity to practice techniques & self-defenses INSTRUCTOR COREY BUZZELL 1st & Second Degree Black belts in Tang So Do Certified instructor with Krav Maga Worldwide 4th Degree Black Belt under Paul Garcia and America's Best Defense Certified instructor under Greg Silva and United Professionals Certified Jujitsu instructor White Mongoul with Sitydytong Muay Thai Blue belt under Daniel Gracie BJJ Certified Program Director under Black Belt Schools International Specializes in self defense training - teach work place safety home invasion preventions - firearm self defense - Fire arms as a self defense tool - Women’s Self Defense Seminars

Central Massachusetts Association of REALTORS®

14 www.cmarealtors.org

PROFESSIONAL DEVELOPMENT

conTinuing eDucaTion cLaSS Topic RE44R05 Understanding Title & Title Concerns

DaTe

Tuesday, May 17th, 2016

LocaTion

Central Massachusetts Association of REALTORS速 492 Washington Street, Auburn, MA 01501

Time

Registration at 11:30am 12pm - 2pm (Lunch will be provided.)

Speaker

Michael E. Powers, Esq., CATIC速 Title Counsel

To regiSTer:

www.cmarealtors.org/events

creDiTS

Receive 2 complimentary CE credits

SponSorS

RMS Worcester 324 Grove Street Worcester, MA

Central Massachusetts Association of REALTORS速

RMS Sturbridge 139 Main Street Sturbridge, MA

Simonian & Murray 32 Elm Street Worcester, MA

15 www.cmarealtors.org

PROFESSIONAL DEVELOPMENT

LUNCH AND LEARN WITH WINTRUST MORTGAGE

Earn 2 credits while learning to better serve your buyers and sellers! CEU course: RE47R05: Residential Mortgage Loan Market and Credit Today UNDERSTAND THE DYNAMICS OF TODAY’S RESIDENTIAL MORTGAGE MARKET AND THE IMPORTANT ASPECTS OF CREDIT REPORTS, CREDIT SCORING, IMPROVING CREDIT ALONG WITH MANY OTHER FINANCING FACTORS! When: Thursday, May 19th 12:00 P.M. - 2:00 P.M. | Where: CMAR, 492 Washington Street, Auburn Cost: Free to members, $20.00 all others | R.S.V.P.: www.cmarealtors.org/events.html or by calling 508.832.6600 Kelly Gaumond

Sr. Mortgage Consultant NMLS# 432698 Wintrust Mortgage

• Understanding the loan programs available in todays market • Pre-qualify vs Pre-approval

Brad Roberts

Bradford H. Roberts, Esq. CAPT, JAGC, USNR (Ret.)

• Writing solid offers • Common title issue • How to take title?

Val Toutellotte Sr. Housing Counselor, American Consumer Credit Counseling, Inc.

• Why is credit so critical • What factors makeup a credit score

Lunch Brought to you by Tina Southerland with G&N Insurance

Questions or concerns about the ever-changing market? Contact me today. I’ll be your calm and clear guide through the mortgage industry.

Kelly Gaumond

Senior Mortgage Consultant NMLS# 432698 362 Chandler St., Ste. C | Worcester, MA 01602 175 Highland Ave., | Needham, MA 02494

Cell: 774.200.5017 Direct: 781.247.9576 KGaumond@WintrustMortgage.com www.LoansWithKelly.com

Central Massachusetts Association of REALTORS®

16 www.cmarealtors.org

PROFESSIONAL DEVELOPMENT The CMAR Professional Development Committee is pleased to present:

2016 Office Leadership Breakfast Series Offered exclusively to Brokers & Office Managers

Shining a Light on Solar Energy: The Pros & Cons of Going Solar Featuring Mark Gratan of Endless Mountain Solar Services Presentation will also include a Legal Update so you know your responsibilities as a broker.

Date: Monday, June 6, 2016 Place: CMAR, 492 Washington St., Auburn Breakfast: 8:30 am Program: 9:00-11:00 am Cost: $15 each How Solar Panels Work Purchase vs. Lease Solar Rebates – Federal & State Net Metering Utility vs. Solar Different Panel Types Contract Agreement – Is it transferable? Warrantied?

THANK YOU TO OUR SPONSORS:

............................................................................. Register now - $15 each - Fax to 508-832-6620 or email to lsprague@cmarealtors.org. June 6_____($15)

Sept. 12_____($15)

Nov. 14_____($15)

Name:_________________________________________________________________________________________ Firm:_________________________________________________________________________________________ Billing Address:_________________________________________________________________________________ Credit Card/Expiration:___________________________________________________________________________ email:_______________________________________________ phone:____________________________________

Central Massachusetts Association of REALTORS®

17 www.cmarealtors.org

PROFESSIONAL DEVELOPMENT

- YOU ARE INVITED Sponsored and Presented by: Kristen Walther | NMLS #19396

Lunch & & Learn Learn Lunch YOU SPOKE, WE LISTENED….. TOPIC: CREDIT REPAIR Our survey results revealed CREDIT REPAIR as the #1 requested topic!

Our Guest Speaker: The event will be held:

Matt Listro, NCF National Credit Fixers

Monday, June 27th Time: 12:00pm – 2:00pm

accompanied by Nikki Olson Credit Repair Highlights To Include:

Place: CMAR

• How credit scores are calculated

492 Washington Street Auburn, MA 01501

• The many names of FICO

*Lunch will be provided*

• Credit quiz

Please RSVP by Friday, June 17th to: Donna Grasseschi at 774.241.0770 or Donna.Grasseschi@Norcom-USA.com RSVP is a must as seating is limited.

Central Massachusetts Association of REALTORS®

NMLS #71655

18 www.cmarealtors.org

MEMBERSHIP NEWS New Applicants Chris Alarie Philip Babine Raymond Beaudry Christopher Besaw Jill Courville Maria Diran Jimmy Eldean Steven Falcone David Floyd Heidi Floyd Mark Gulino Debora Harrington Ken Kowalczyk Beni Lukumu Nicholas Manero Julia McGonagle William Miller Sandra Mines Craig Moran Victoria Morey Ben Ogunjobi Ray Paolucci Pamela Quinn Franke Rowe Christine Truax Thomas Vargeletis

New Affiliates

Keller Williams Realty Worcester RE/MAX Professional Assoc. Auburn Keller Williams Realty Worcester RE/MAX Professional Assoc. Sturbridge Keller Williams Realty Worcester Keller Williams Realty Worcester Exit Realty Partners Shrewsbury A- Realty of Central MA Worcester Keller Williams Realty Worcester Keller Williams Realty Worcester Blackstone Valley Realty Mendon Tomaolo Realty Group Shrewsbury Exit Beacon Pointe Realty Northboro Keller Williams Realty Worcester RE/MAX Advantage Worcester RE/MAX Professional Assoc. Sturbridge Coldwell Banker Shrewsbury Exit Beacon Pointe Realty Northboro ERA Key Realty Services Worcester Keller Williams Realty Worcester Hope Realty & Assoc. Worcester Post Road Realty W.Brookfield Coldwell Banker Shrewsbury Keller Williams Realty Worcester Red Door Realty Sturbridge Century 21 NorthShore Realty Leominster

Agents Transferred to New Office Biodun Akande Heather Armbruster John Chalino Robert Fowler Jully Khattar John Miller Lili Plavsic Rosalind Stearns

New Office Mark Toomy

Keller Williams Realty Keller Williams Realty Keller Williams Realty RE/MAX Prof. Assoc. Khattar Realty Keller Williams Realty Keller Williams Realty Keller Williams Realty

Worcester Worcester Worcester Sturbridge Worcester Westboro Worcester Westboro

Expert Agents Realty

Northboro

Central Massachusetts Association of REALTORS速

Sean Perkins Gonzalo Puigbo

People's United Bank 8 Lyman Street People's United Bank 8 Lyman Street

James McDermott Kaushal Picciotto

United Bank 36 Washington St. Suite 22 United Bank 37 Washington St. Suite 22

Ruta Convent Joseph Girolamo Sandeep Rajguru Cynthia Schavone Raymond Vyas

Wells Fargo Home Mortgage 223 West Park Drive Wells Fargo Home Mortgage 220 West Park Drive Wells Fargo Home Mortgage 221 West Park Drive Wells Fargo Home Mortgage 222 West Park Drive Wells Fargo Home Mortgage 223 West Park Drive

Westboro Westboro

Wellesley Wellesley

Westboro Westboro Westboro Westboro Westboro

Affiliates Transferred to New Office Pamela Tortora

Fidelity Bank 9 Leominster Connector

Matt Happy

Merrimack Mortgage Co. 255 Park Avenue Suite 902 Worcester

Leominster

Our Thoughts are with... Our deepest sympathies to Mark Consolmagno of RE/ MAX Advantage 1 on the passing of his mother, Marie, on April 14. Congratulations to proud parents Erika Hall (Keller Williams), and her husband Dan Filipe, and grandad, Jeffrey Hall (Keller Williams) on the birth of their daughter. Ivy Rose Filipe was born on April 20 and the new family is doing well! 19 www.cmarealtors.org

MAY BIRTHDAYS Wishing a very happy birthday to those celebrating this month! May your year ahead be filled with health, happiness, love and friendship! Julia Acquaah-Harrison Paula Allen Peggy Andrianopoulos Heather Armbruster Maureen Benoit Joseph Beshai Patricia Bourque Howard Bregman Elizabeth Browning Marcia Canter John Caron Catherine Carroll Lissette Carter Michael Cataldo John Chalino Margo Clark Richard Colby Bruce Cononico Laura Coomey Colleen Crowley James D'Amico Paul D'Anello Patricia Davis Jessica DeHaemer Pamela Dennis Francisco Diaz Janiece Diaz Paul Donnellan

Adam Durrance Mark Elbag Laurie Fitzpatrick Elizabeth Flodstrom Jacqueline Forgeron Anne French Sharon Garcia Francis Gaudette Grover Gentry Martha Gibson Shannon Gifford Nancy Gilmour Daniel Gladek Barbara Grover Lene Guertin Gizely Guimaraes Kelly Henderson Vanthara Hill Richard Hutner Joanna King Conety David Kmetz Mark Koomey Savvas Kosmidis Edward Lapointe Edward Levine Vanessa L'Heureux Marla Lombard Lena Loughlin

Michelle Lussier Barbara MacPhee Geriann Madore-Dumas Michael Madulka Marisa Mahon Carmela Manzaro Maribeth Marzeotti Gary Mattos Louis McCann Kim McGhee Karen Milley Paula Mollov Katherine Nagda Khalid Naseem Maura O'Connor Maura O'Connor Paul O'Rourke Jasmine Ortiz Lisa Osborn Rosemarie Ozioli Lisa Paciello Reece Cassie Paolucci Yudi Ramirez Christiane Rankin Jacquelyn Robinson Mark Rousseau Cheryl Rupolo Joan Senecal

Tatyana shcherban Bernadette Smith Jennifer Solin Nina Souza Cynthia Spellane Joanne St. Pierre Laurie Sullivan Skip Tebo Mark Valdez Barbara Van Slett Clifford Vera Linda Volungis Barbara Vosdagalis Yolanda Walker Rasheed Warab Patricia Whittaker Brooke Wrenn Shawn Wyse Gwen Zilioli

Law Office of Harry P. Kotseas Harry P. Kotseas, Esq. * Sharon F. LaPointe, Esq. * Annelle E. Benson, Esq. Highland Title & Closings Real Estate Mortgage Law Purchases & Sales Mortgage Closings Short Sales

Title & Closings Preparation of Wills Business Formation & Transfers Settlement of Estates

94 Highland Street, Worcester, MA 01609 * Tel: (508) 753-5933 * Fax: (508) 755-1244 * contact@kotseas.com Central Massachusetts Association of REALTORS速

20 www.cmarealtors.org

2016 CMAR AWARDS LUNCHEON Another sold-out event at the Wachusett Country Club was held on April 14. Over 375 REALTORS® and Affiliates attended our annual luncheon to celebrate the achievements of our membership over the past year. Big thanks to all our sponsors and our those who donated items for our Scholarshp Raffles: Bill Murphy of Fairway – Red Sox Tickets; Afaf Gerges - Residence Inn by Marriott one night stay; Country Bank – gift card. Congratulations to the following award winners:

REALTOR® of the Year Erika Hall, Keller Williams Worcester

Affiliate of the Year: Kristen Walther, Norcom Mortgage

Natalie Quinlan Distinguished Service Award: Mary Gale, Coldwell Banker Worcester

Central Massachusetts Association of REALTORS®

21 www.cmarealtors.org

2016 CMAR AWARDS LUNCHEON

Rookie of the Year Chris Brown, Keller Williams Westborough

REALTORS速 Choice Award Jim Black, Keller Williams Worcester

Diamond Level Top Producers Andrew Abu, Andrew J. Abu, REALTORS速; Lee Joseph, Coldwell Banker Worcester; Tracey Fiorelli, Janice Mitchell RE; and Caryn Gorczynski, Century 21 Center Home Team

Central Massachusetts Association of REALTORS速

22 www.cmarealtors.org

2016 CMAR AWARDS LUNCHEON

Emerald Level Top Producers - Individuals

Ruby Level Top Producers - Individuals

Emerald Level Top Producers - Team John Miller RE Experts Emerald Level Top Producers - Team Stewart & Stewart Central Massachusetts Association of REALTORS速

23 www.cmarealtors.org

2016 CMAR AWARDS LUNCHEON

Lifetime Membership Awards Roz Levine, Roz Real Estate; Judy Reynolds, Evergreen Realty; Deb Richards, RE/MAX Vision

30 Year Milestone Recipients

25 Year Milestone Recipients Central Massachusetts Association of REALTORS速

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2016 CMAR AWARDS LUNCHEON

20 Year Milestone Recipients

15 Year Milestone Recipients

10 Year Milestone Recipients

Central Massachusetts Association of REALTORS速

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2016 CMAR AWARDS LUNCHEON

5 Year Milestone Recipients

5 Year Milestone Recipients - Affiliates

CMAR President Kris Koliss presenting EVP Colleen Pappas with the Outstanding Leadership Award

Central Massachusetts Association of REALTORS速

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REALTOR速 DAY ON THE HILL

Tuesday, June 21, 2016 10:00 am at the State House

Join us and make your VOICE HEARD! Seats are Limited Sign up TODAY! CMAR Bus departs TJ Maxx parking lot in Auburn at 7:30 SHARP and returns at 3:30 pm FREE to CMAR Members

Central Massachusetts Association of REALTORS速

Featuring Keynote Speaker: Karen Polito, Lieutenant Governor of Massachusetts

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REALTOR速 NIGHT AT FENWAY PARK

REALTOR NIGHT AT FENWAY PARK Boston Red Sox vs. Seattle Mariners

When: Where: Time: Price:

June 18th, 2016 Fenway Park 4:05pm $50.00 per ticket - a portion of each ticket sold will go to the CMAR Scholarship Fund

A great way to celebrate the season with REALTOR速 friends!

For tickets, contact Lisa Sprague at Central Massachusetts Association of REALTORS速 508-832-6600 or lsprague@cmarealtors.org All Association Members will have seats in the same section!

Central Massachusetts Association of REALTORS速

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CMAR 18th ANNUAL GOLF TOURNAMENT CMAR 18th Annual

Golf Tournament0 Wachusett Country Club Thursday, June 23, 2016

Registration: 8:30 am Shotgun: 9:30 am Luncheon: 2:30 pm Single: $125 Foursome: $500

Prizes for 1st, 2nd, 3rd Place, Longest Drive & Closest to Pin Raffles, Door Prizes Strings & Mulligans Available!

Includes 18 holes, cart, continental breakfast, luncheon

A portion of proceeds will be donated to The boys & girls club of Worcester The Bridge of Central MA To register contact Jacki D’Innocenzo at 508-832-6600 or via email at jdinnocenzo@cmarealtors.org. Or send this form to CMAR, 492 Washington Street, Auburn, MA 01501 * FAX 508-832-6620. No. of Players__________

Team Captain:____________________________________________________________

Player 1:

Player 2:

Player 3:

Player 4:

Contact Name: Billing Address: Amount Paid: $__________

___Check

___Amex

___Discover

Card No._________________________________________________

___MasterCard

___Visa

Exp.____________________________________

Signature:__________________________________________________________________________________________

Central Massachusetts Association of REALTORS®

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CENTER FOR REAL ESTATE STUDIES & TRAINING Upcoming CEU Courses for May All classes are held at the Central Massachusetts Association of REALTORS® CREST School, 492 Washington Street, Auburn, MA 01501, unless otherwise noted. CMAR Members in good standing receive FREE LOCAL CEU’s! Tuition for non-members is $20 for each 2-hour CEU. You may register for classes online at www.cmarealtors.org or by calling the CMAR office at 508-832-6600. Time

Instructor

Course Code

Course Title

Wednesday, May 4 - Auburn 9:30am

Paula Savard

8:00am 10:00am 12:00pm

Gary Bourque

RE26RC07

Appraisal Process

Gary Bourque

RE51R06

Facilitator

Gary Bourque

RE35RC03

Offers

Code of Ethics Training

Wednesday, May 25 - Auburn

VIP SPONSORS

Thomas M. Valentine Jr.* PRESIDENT/FINANCIAL ADVISOR

508-796-5950 645 Chandler Street, Worcester, MA 01602 www.forwardfinancialsrv.com *Registered Representative, Securities offered through Cambridge Investment Research, Inc. A Broker/Dealer, Member FINRA/SIPC. Forward Financial Services and Cambridge are not affiliated.

countrybank.com 1-800-322-8233 Member FDIC Member DIF

Central Massachusetts Association of REALTORS®

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LOCAL MARKET UPDATE Local Market Update – March 2016 A RESEARCH TOOL PROVIDED BY THE MASSACHUSETTS ASSOCIATION OF REALTORS®

Central Massachusetts Association of REALTORS®

+ 24.6%

+ 1.2%

- 13.0%

Year-Over-Year Change in Closed Sales All Properties

Year-Over-Year Change in Median Sales Price All Properties

Year-Over-Year Change in Inventory of Homes All Properties

March

Single-Family Properties

2015 482 322 $243,000 1,949 4.5 147 93.3% 710

Pending Sales Closed Sales Median Sales Price* Inventory of Homes for Sale Months Supply of Inventory Cumulative Days on Market Until Sale Percent of Original List Price Received* New Listings

2016 699 402 $265,000 1,683 3.4 126 94.3% 971

Year to Date +/– + 45.0% + 24.8% + 9.1% - 13.6% - 25.7% - 14.2% + 1.1% + 36.8%

March

Condominium Properties

2015 136 81 $230,000 411 4.0 122 95.9% 194

Pending Sales Closed Sales Median Sales Price* Inventory of Homes for Sale Months Supply of Inventory Cumulative Days on Market Until Sale Percent of Original List Price Received* New Listings

2016 166 100 $197,500 371 3.1 123 96.7% 208

2015 1,084 830 $248,450 --136 93.2% 1,476

2016 1,587 1,090 $249,900 --123 93.9% 1,962

+/– + 46.4% + 31.3% + 0.6% --- 9.2% + 0.8% + 32.9%

Year to Date +/– + 22.1% + 23.5% - 14.1% - 9.7% - 22.3% + 0.1% + 0.8% + 7.2%

2015 286 209 $215,000 --116 96.0% 404

2016 409 267 $202,000 --116 95.7% 499

+/– + 43.0% + 27.8% - 6.0% --+ 0.2% - 0.4% + 23.5%

* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Median Sales Price

BASED ON A ROLLING 12-MONTH AVERAGE

Single-Family Properties

Condominium Properties Entire State

Entire State

Central Massachusetts Association of REALTORS®

$350,000

$300,000

$300,000 $250,000

$200,000 $250,000

$150,000

$200,000 12-2007 12-2008 12-2009 12-2010 12-2011 12-2012 12-2013 12-2014 12-2015

$100,000 12-2007 12-2008 12-2009 12-2010 12-2011 12-2012 12-2013 12-2014 12-2015

All data from the Berkshire County Multiple Listing Service, Cape Cod & Islands Association of REALTORS®, Inc. and MLS Property Information Network, Inc. | Provided by MAR. | Powered by ShowingTime 10K.

Central Massachusetts Association of REALTORS®

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LEGAL HOTLINE Michael McDonagh, MAR General Counsel Ashley Stolba, MAR Associate Counsel Justin Davidson, MAR Legislative & Regulatory Counsel

Solar Panels

panels, agents should recommend that the seller contact the leasing company right away to let them know that they are planning to sell the home. In fact, some solar companies have set up departments specifically to work on lease transfers. The solar company may reference a UCC-1 that has been recorded with the property. A UCC-1 acts as a lien against the solar equipment on the property and is used by the solar companies to protect their interest in the leased panels. These finds should be recorded at your local registry of deeds. It is important to know whether or not a UCC-1 has been recorded with the property because some lenders may have concerns that the UCC-1 will take priority over the mortgage in the event of a bankruptcy. Some companies will remove the UCC-1 filing and then replace it when the new mortgage is recorded.

Q. I have just listed a home that has solar panels on the roof. What are some things that I should know about the panels? The first thing to do is to determine whether the panels are owned by the seller or if the seller is leasing them from the solar company. This will make a big difference in their value and any possible complications that may arise. Q. My seller has told me that the panels are owned by the seller. What does this mean? A. Since the panels are owned by the seller, they should be factored into the price of the home just as any other asset would be. It would be prudent to search for comparable homes with owned solar panels as well.

A solar renewable energy credit (SREC) also should be considered when valuing the asset. An SREC is created for every megawatt hour (MWh) of electricity produced by a solar generator. SRECs allow a seller with a solar array to use electricity that is produced by the panels and then separately sell the SREC to a utility company. Some solar owners use SREC brokers to handle the sale, so if you have a seller who is part of a ten year SREC Program they may consider selling their future credits through such a broker. If a seller does this, they would then value their solar panels based on the energy savings that they provide. Buyers, on the other hand, should be asking sellers if they are part of an SREC program and whether the SRECs will be transferred with the panels. If they are, a buyer also would want to know what the average annual output of the panels has been so that they can properly value them.

Q. My seller has told me that the panels are leased. How does this change my analysis? A. If the panels are leased, it can be a bit more complicated. When representing a seller with leased solar Central Massachusetts Association of REALTORSÂŽ

In the end a seller has three options when dealing with leased solar panels: they can buy out the lease; transfer the lease to the new buyer; or attempt to transfer the panels to their new home, although this option may only be available in rare occasions.

Q. I am representing a buyer who is interested in buying a home with leased solar panels. How will this affect the sale? A. For those REALTORSÂŽ representing buyers interested in a home with leased solar panels you want to remind your clients to factor the monthly lease cost when determining whether or not they can afford the home. The buyerâ&#x20AC;&#x2122;s lender is likely to consider this when making a determination on their loan. Also, buyers should review their credit scores because the solar leasing companies are going to ensure that the buyer can assume the costs of the lease before they approve a transfer. Remember to always use caution when advising clients about solar panels. The Attorney General published the following helpful informational sheet on solar panels: http://www.mass.gov/ago/news-and-updates/press-releases/2016/advice-to-homeowners-considering-solarpanels.html. You can also call the MAR Legal Hotline at 1-800-370-LEGAL. 32 www.cmarealtors.org

2016 BOARD OF DIRECTORS President, Kris Koliss President Elect, Sarah Gustafson Vice-President, Judy Patterson Secretary, Tracey Fiorelli Treasurer, Michael Meurant Immediate Past President, Brad Roberts

Diane Dabrowski Mike DeLuca Erika Hall Lorraine Herbert Lee Joseph Kathy McSweeney Leslie Storrs John Vaillancourt Andrew Abu Leif Rosseland Nathan Stewart

Director Director Director Director Director Director Director Director Alternate Alternate Alternate

COMMUNITY ACTION COMMITTEE Book & Games Drive for the Boys & Girls Club of Worcester Thank you to all who donated to our Spring Drive. We're overwhelmed by your generosity. The Drive that started with our Annual Awards Luncheon continued through the month and donations will be dropped off to the Boys & Girls Club next week. We appreciate your support and we are sure that the kids will be thrilled! Our next Community Action Committee event is our Annual Backpack Drive, which begins June 1.

CMAR STAFF Executive VP, Colleen Pappas Office Manager, Lisa Sprague Marketing Manager, Jacki D’Innocenzo Accountant, Maura O’Connor

The Community Action Committee has chosen 2 charities for 2016; the Boys and Girls Club of Worcester and the Bridge of Central MA. Task Force Chair Keith Pentz worked diligently with both charities to complete the spring grant application for the Massachusetts Association of REALTORS® Charitable Foundation. We are happy to report that the Central Massachusetts Association of REALTORS® received 3 grants from the MAR Charitable Foundation – one for the Boys and Girls Club in the amount of $1000; the Bridge of Central MA received $1500 and Habitat for Humanity Metrowest received $1000. We are happy to give back to our community. If you work with a 501C3 charity, please let us know, as there are fall grants available. CMAR office hours are 9:00 am—5:00 pm. For assistance with the MLS Lockbox system, please make an appointment with Lisa Sprague at 508-832-6600. Please LIKE our facebook page at https://www.facebook.com/CentralMasslAssociationofREALTORS. By doing so you will not only get up-to-the-minute information on everything going on at CMAR, but you will help us to increase our visibility while growing your own business network. Central Massachusetts Association of REALTORS®

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