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REALTOR® Update

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March 2013

Published by the Virginia Peninsula Association of REALTORS®

Virginia lawmakers approve sweeping transportation plan RICHMOND — The Virginia General Assembly ended its annual session Saturday with passage of a sweeping transportation deal, handing Gov. Robert F. McDonnell (R) a qualified victory on an issue that has vexed the state for a generation but that also puts him at odds with the conservative wing of his party. On the last day of the legislature’s 46-day gathering, the Senate gave its blessing to a plan that dramatically overhauls the way Virginians will pay for roads, highways and mass transit — but not before Democrats also won a pledge from McDonnell on the Affordable Care Act’s planned expansion of Medicaid for poor and elderly people. Soon after McDonnell wrote a blistering letter about his reluctance to expand the shared federal and state program because of growing costs, Democratic senators threatened to derail the $3.5 billion transportation measure unless McDonnell agreed, in writing, to honor their compromise on Medicaid. He did, and despite a last-minute challenge Saturday from Attorney General Ken Cuccinelli II, the Medicaid deal held together well enough for the Senate to take up the historic transportation measure a day after the House passed it. “This isn’t any bill, this is the only bill, and we did not reach this decision lightly without hundreds of hours of anguish and numbers-crunching,” said Senate Majority Leader Thomas K. Norment Jr. (R-James City), one of the transportation plan’s final negotiators. “It is the only solution we could come up with.” continued on pg 29 REALTOR ® Update Update REALTOR7

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Support your Affiliate Partners Today! A very special thank you to the following Partners for their

Diamond Sponsors

Atlantic Bay Mortgage - (757) 874-6040

Platinum Sponsors

Monarch Mortgage - 757-291-4004 Real Estate Information Network (REIN) - 757-531-7900

Gold Sponsors

Fidelity Bank Mortgage - 757-597-0431 National Exterminating - 757-599-3621  PNC Mortgage - 757-599-6882 PrimeLending - 757-344-3366 SunTrust of Hampton - 757-896-4982 Towne Bank Mortgage - 757-687-5005

Silver Sponsors

C&F Mortgage - 757-873-8200 Commonwealth Exterminating Co. - 757-873-2030 Fulton Mortgage Company - 757-873-0435 Movement Mortgage - 757-585-4941 Pillar To Post - 757-564-4454

Bronze Sponsors

Daily Press - 757-247-4891 NARPM - 757-876-0284 ServPro of Hampton - 757-560-0757 Shaheen Law - 7567-369-2831 Wells Fargo Home Mortgage- 757-873-3308

Your Member Service with FEET! Check Out Our Tech Department. VPAR offers our members fantastic tech support via our tech guru, Rich Benet. Along with giving general advice, we provide computer repair services at 30 to 50% less than what most tech stores charge. So, why not try us? Contact Rich Benet at 757-599-5222 or rbenet@vpar.org. No

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REALTOR® Update The Official Publication of the Virginia Peninsula Association of REALTORS® Officers President Pamela McKinney Lewis, ABR, SFR President-Elect Kimi Dornan, ABR, GRI, SFR Treasurer Chandra Patterson Immediate Past President Sheila Dann, ABR, GRI, SFR Directors Carl Burt • Carol Davanay, ABR, GREEN Theresa Embler • Dewey Hutchins, Jr. Chris Pray • Diana Rondinelli Regina Scott Chief Executive Officer - Dana R. Holben, RCE, e-PRO Advertising Policy While this magazine makes reasonable effort to establish the integrity of its advertisers, it does not endorse advertised products or services unless specifically stated. The publisher reserves the right to reject any advertisement at anytime. Advertisements refused may include, but are not limited to, those that are legally questionable, that may support products or services of questionable standards, or that are inconsistent with the high professional standard of the Code of Ethics of the Association. Advertising is open to REALTOR® members, member firms, affiliate members and non-members. Product advertising is limited to residential subdivisions, commercial, or industrial units and real estate related products and services, excluding personal listings. Equal Opportunity Policy VPAR is pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity. The Association encourages and supports an affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race, color, elderliness, religion, sex, handicap, familial status, or national origin. Notice VPAR does not fix, control, recommend, suggest, or maintain commission rates or fees for services rendered by cooperating members or non-members. Editor Dana R. Holben, RCE, e-PRO REALTOR® Update is published monthly by the Virginia Peninsula Association of REALTORS® as a service to its membership. Correspondence and requests for advertising packets should be mailed to REALTOR® Update, Attention: Dana R. Holben, Editor, 1001 North Campus Parkway, Hampton, VA 23666 or call VPAR at (757) 599-5222 or e-mail at dana@vpar.org.

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President’s Message

by Pamela McKinney-Lewis, 2013 VPAR President

It’s March Madness! Not only in the sports world but in our real estate world. This month marks the month for our OSC awards extravaganza and our 2013 first quarter finale. If you are one of the 140 plus award winners for 2012, I would like to extend an early congratulations to you. If you are striving to improve your 2013, this is the last stretch for the first quarter. I hope your first couple months of the year started out with a bang. If so, please take a bow, if not, you still have time to make this your best year in real estate. If you still need to be revived, check out our VPAR event and education calendar at www.vpar.org for some great classes and lunch & learns that the Professional Development, New Homes, Property Management & Young Professional Network Planning Committees have in store for March. This will surely take out the Madness of March for real estate! Cheers!! All the Best & God Bless, Pamela

Va. Peninsula NARPM Chapter Meeting Meeting: March 19, 2013 8:30 to 10:00 AM Angelo’s Pancake & Steak House 755 J. Clyde Morris Blvd. Newport News, VA 23601 Speaker: Joey Hollis, Atlantic Exterminating Topic: Crawl Spaces Call David Whitley for more information at 876-0284.

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Risk Management Corner New mortgage rules from CFPB aim to protect consumers, reassure lenders Reprinted with permission by Virginia Association of REALTORS® By Andrew Kantor The Consumer Financial Protection Bureau, after months of discussions, comments, hearings, and the like, finally released its Qualified Mortgage (QM) rules in January. They take effect in January 2014 and set minimum qualifications for borrowers — at least if lenders want government backing and protection from consumer lawsuits. Put another way: For the vast majority of loans, this will be the standard borrowers will have to meet. There are two levels to the rules: Ability to Pay and Qualified Mortgages. Ability to Pay Ability to Pay is the standard that all new mortgages must meet. As the CFPB explained, “[L]enders too often offered mortgages to consumers who could not afford them.” (Some of those lenders even tried to blame borrowers for accepting the loan!) So there are eight things a lender must consider — it must look at a consumer’s financial records and verify them: • • • • • • • •

Current income or assets; Current employment status; Credit history; The monthly payment for the mortgage; The monthly payments on any other loans associated with the property; The monthly payment for other mortgage related obligations (such as property taxes); Other debt obligations; and The monthly debt-to-income ratio or residual income the borrower would be taking on with the mortgage.

Further, lenders have to consider the borrowers’ ability to pay the loan over the longer term (five years, to be precise), not just during a teaser-rate period. Qualified Mortgages OK, those rules apply for every loan. But if a lender wants a mortgage to be “eligible to be purchased, guaranteed, or insured by” the Federal government (e.g., Fannie, Freddie, HUD, VA, etc.), that loan must also meet the CFPB’s Qualified Mortgage standards. The important ones:

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COMMISSIONERS APPOINTED TO HOUSING AUTHORITY BOARD CHAIRMAN AND VICE CHAIRMAN ELECTED The Newport News City Council recently named Josephine Clark and Lou Call to the Newport News Redevelopment and Housing Authority (NNRHA) Board of Commissioners. Ms. Clark is a retired Licensed Professional Nurse and was previously a member of the NNRHA Board from February 1999 until January, 2005. She has served on the Board of Directors of the Office of Human Affairs, the Marshall Courts Tenant Council and as President of the Marshall Courts Senior Citizens Organization. Ms Clark also enjoys working with the Foster Grandparent Program in Newport News. Ms. Call is a licensed real estate agent with Coldwell Banker Professional, REALTORS® and is an active member of the Virginia Peninsula Association of REALTORS® serving on the Association’s Public Policy Committee. She is also a member of the Sesquicentennial Commission, secretary of the Lee Hall Train Station Foundation, Treasurer of the Arbors Condominium Homeowners Association Board and co-founder and Board member of Virginians United Against Crime. At its January meeting, the Board of Commissioners re-elected Howard F. Manly as Chairman and N. Douglas Burgoyne as Vice Chairman. Mr. Manly was appointed to the Board in 2009. He retired as Deputy Commissioner of Public Health/Epidemiologist for the District of Columbia and is currently president and CEO of the Manly Group. Mr. Burgoyne was also appointed to the Board in 2009. He is Executive Vice President at Towne Bank.

Welcome New Members! Members on the Move - Transfers Kelly Alpert to ERA Real Estate Professionals Deb Scott tO RE/MAX Peninsula NEW MEMBERS Ludmila Rich – Rose & Womble Shawn Mauldin – Long & Foster Oprah Morales – Rose & Womble Cheri Richards – Coldwell Banker Prof. Angie Joseph – Liz Moore & Associates Scott Nicholas – Liz Moore & Associates NEW FIRMS Brooke Madison & Associates – Kevin Pall

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Risk Management Corner continued No excess upfront points and fees: Points and fees are fine, as long as they are for the loan itself, not “to compensate loan originators, such as loan officers and brokers.” Points and fees cannot exceed three percent of the total loan amount in most cases. No “toxic” features: Terms can’t exceed 30 years; interest-only and negative-amortization payments (where the principal amount increases) are banned. Debt-to-income limit: A borrower’s debt-to-income ratio must be less than or equal to 43 percent. (There’s an exception — see below.) Diff’rent strokes Keeping those rules in mind, the CFPB created two types of QMs: prime and sub-prime. Why? Because consumer groups wanted borrowers to be able to challenge a lender if that lender didn’t underwrite properly, while lenders wanted a “safe harbor” from lawsuits and loan buybacks if it followed the rules. So the CFPB did something for everyone. Sub-prime QMs: higher priced, but borrowers can challenge. These loans are for folks with lower credit ratings. They still meet all the standards, but if the borrower ends up defaulting (“if the loan goes south,” as the CFPB put it), he can can attempt to prove that the lender shouldn’t have qualified him. This is known as “rebuttable presumption,” meaning the lender is presumed to have complied; the onus is on the borrower to prove otherwise. If the borrower does prove that, the government can require the lender to buy back the loan. Prime QMs: lower priced, with safe harbor for the lender. These are for your less-risky consumers — the ones with high credit ratings etc. etc. With these loans, if the lender meets the QM underwriting criteria it has “safe harbor” — the government can’t force the lender to buy back the loan if the borrower defaults. Finally, there’s a temporary exception to that 43-percent rule. CFPB was concerned that there are loans that might not meet the specific and detailed QM requirements, but still qualify for government backing. “[S]uch loans are better evaluated on an individual basis under the ability-to-repay criteria,” it wrote. So the bureau created a temporary category of loans “that have more flexible underwriting requirements” but still satisfy the general QM rules; this will be in effect for the next seven years (or less, if Federal agencies issue their own guidelines) and the details will be available soon. Higher cost, tighter restrictions On the heels of its definition of qualified mortgages, the CFPB also released its new rules for high-cost mortgages. Here’s an outline.

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These are the types of loan the CFPB defines as “high cost”: • • • • •

A first mortgage with an APR more than 6.5 percentage points higher than the average prime offer rate. A second mortgage — or in the case of Homer Simpson, a third, fourth, or fifth — with an APR more than 8.5 percentage points higher than the average prime offer rate for a similar mortgage. A mortgage for less than $50,000 for a personal property dwelling (e.g., a mobile home) with an APR more than 8.5 percentage points higher than the average prime offer rate for a similar mortgage. A loan for less than $20,000 where the points and fees are more than either eight percent of the loan or $1,000. A loan for $20,000 or more where the points and fees are more than five percent of the loan.

And here are the basic new rules that apply (but see the box “When less is more”): • Consumers must obtain housing counseling before they can take out a high-cost mortgage; lenders will provide them with a list of approved counseling agencies. • Balloon payments are banned. • Lenders can no longer penalize borrowers for paying off high-cost loans early. • Late fees are capped at four percent of the payment that’s past due. • Lenders cannot charge fees for modifying the loans. • Closing costs cannot be rolled into the loan amount. • Lenders can only charge limited fees to provide consumers with payoff statements. • Lenders cannot encourage a borrower to default on a high-cost mortgage in order to refinance. • Certain high-priced loans will require the lender to establish a five-year escrow account (instead of one year, which is required today). Too long, didn’t read? Here’s the absolute minimum you need to know for your clients. • New qualified mortgage (QM) rules from the CFPB will be the standard for most mortgages. They take effect next January. • Smaller lenders will likely have more leeway with approving loans. • Lenders will continue to make detailed examinations of borrowers’ income, credit, and expenses. • A borrower’s debt-to-income ratio must be 43% or lower (although rural areas may have some flexibility). • No more loans more than 30 years, or points/fees of more than 3%. • The new standards allow for both prime loans (lower cost, more bank protections) and sub-prime loans (higher cost, more consumer protections).

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Off my Desk…. CEO Report Dana R. Holben, RCE, e-PRO

Goals are a necessity to any business. Where do you want your real estate business to be one year from now? If you don’t have goals, can you really determine these questions? Take one goal. Let’s say it is… prospecting. You have a specific goal. But now how can this be achieved? You have heard the saying, “How do you eat an elephant?” One bite at a time! Same applies with goals. I know you could look online and find a million more ideas. This is just a simple example… Goal: Prospecting What is the purpose: Getting more clients Task: (this is where rubber hit the road) 1. Write a list of 100 people you know • Past clients/Sphere of influence • Other REALTORS® • Business Referrals • FSBO/Expired Listings • Advertising • Others 2. Create a time line for your activities (i.e. Prospecting from 9-11 am Monday – Friday) 3. Be accountable. This is probably one of the hardest things to do. Be truthful with yourself! This is YOUR Goal. 4. Then create a daily TO-DO List of things that you should do today to work toward your goal of prospecting. This is a daily reminder of your goal! And should be revised daily! 5. Keep the processes going by reviewing FREQUENTLY! The last thing you need to do is to be POSITIVE! Motivate yourself! Separate the irrelevant from what is really important. As you make this goal setting a part of your life, you will find your career accelerating and you will wonder how you did without it!

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GovernmentalAffairs AffairsUpdate Update Governmental by Susan Gaston, Governmental Affairs Consultant by Susan Gaston, Governmental Affairs Consultant

LOCAL ISSUES With the General Assembly having concluded its regular Session, it’s now time to re-focus on local and regional issues within the VPAR jurisdiction. Here is a brief snapshot of the local issues we are following: Hampton •

As always, VPAR is tracking actions on the City budget. Much more to come as budget discussions with the City Manager and others take place in the coming days. VPAR also is following: o Hampton’s Community Plan implementation o Hampton’s Zoning Ordinance revisions o Hampton’s redevelopment plans o Hampton’s master plans (most notably the Phoebus Master Plan) o Hampton’s capital improvement projects (CIP). Residents are asked to provide their input into the CIP priorities by taking a survey that can be found at http://hampton.us2.qualtrics.com/SE/?SID=SV_9YstDULmp6TlAlD. o Fort Monroe redevelopment and redevelopment •

Of enormous importance is the Joint Command Langley-Eustis issue regarding prevention of future encroachment on the bases and providing assurances that the next round of BRAC will not harm those installations. GREAT NEWS out of Richmond: the budget language was included in the final document that is now before the Governor. Thanks to all VPAR members who weighed in on this important issue!

Newport News •

As is the case in Hampton, we are keeping tabs on the budget issues in Newport News.

The City’s Comprehensive Plan review process commences here soon. VPAR will have a definite seat at the table.

Poquoson •

VPAR and the City will meet on March 1st to continue the development of connecting housing and real estate to the City’s overall marketing programs.

York County On February 13th, the Planning Commission held a public hearing on the revised Comprehensive Plan. VPAR provided comments to the Commission, offering general support to the Plan and focusing especially on the following issues: •

Build a healthy and diverse economic base so that the County can attract new industries and assist those already here to maintain their business, balancing the commercial and industrial tax base with the residential tax base.

Promote the adaptive re-use of existing properties.

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GovernmentalAffairs AffairsUpdate UpdateContinued! Continued! Governmental •

Continue to revitalize Yorktown.

Continue to provide opportunities for mixed-use and multi-use developments.

Continue to encourage alternative and new technologies with regard to on-site septic systems.

Prevent neighborhood blight and housing dilapidation and encourage the County to incentivize property owners to maintain their property under current Code provisions and programs.

Continue to research the effectiveness of establishing an Affordable Dwelling Unit (ADU) program to authorize increases in housing density while improving opportunities for homeownership for our workforce.

Continue to maintain a balance diversity of land uses with minimal conflicts among different users and property owners, recognizing the importance of maintaining the special or conditional use permit process.

Preserve open space and employ the use of cluster development techniques and conservation easements.

ELECTIONS •

All 100 members of Virginia’s House of Delegates will be up for re-election in 2013. VPAR will engage in the candidate interview process in the early fall.

Statewide elections for the offices of Governor, Lt. Governor and Attorney General also will take place in November. VPAR will have representation at the VAR interview process that will take place over the summer.

STATE •

With the banging of the gavel at 5:21 PM on Saturday, February 23rd, the 2013 General Assembly Session adjourned Sine Die, or “without another day.” Overall, your Association had another strong and successful session where we passed civil immunity for licensees, clarified standards for occupancy, defend the Real Estate Board as the venue for fair housing violations against real estate likenesses, protected licensees and consumers in situations involving dangerous meth labs, clarified application and security deposits as well as other provisions in the Landlord-Tenant Act and defined the handling of escrow accounts. Look for the Legislative Line for more details.

While the 2013 Session just adjourned, it never is too early to start thinking about 2014! VPAR’s Public Policy Committee will begin consideration of issues for the 2014 Session within the coming weeks. If you know of an issue that you would like to place under consideration for legislative review, please forward details to susan@gastongroup.com.

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Education Opportunities PYPN Seminar: Learn How to Invest in Real Estate & Work with Investors on Monday, March 4th at El Tapatio at Noon Join us on Monday, March 4th at Noon at El Tapatio Restaurant at City Center for a brand new Peninsula Young Professionals Network (PYPN) seminar geared for members who want to diversify their income! Led by Kris Haskins – Investment Coach & Trainer. Lunch is on your dime – we provide the location and speaker! See you at Noon! 8 Hour Required CE Course on March 5th February 5, 2013 8 Hour Required Continuing Education Course $50 members, $60 non-members 8:30 -5 VAR Partner Seminar on Mortgage Reform – How will REALTORS® be impacted on Tuesday, March 5th at VPAR Join us on Tuesday, March 5th from 10- 11: 30 a.m. for a special presentation by Richard Owen, Executive Director of Virginia Mortgage Lenders’ Association. Cost is only $10 and this course is approved for 1 hour of CE/ PLE credits. Learn about Appraisal Reform, QM/QRM and GSE Reform! Richard will review what the DODDFRANK Act means for REALTORS® right now and in the near future! Refreshments are generously sponsored by Atlantic Bay Mortgage! Broker Licensing Course Modules began in February – Not too late to get on board in March with Real Estate Law! Been in the business at least 2 ½ years . . . now is the time to get your Broker License or Take the Advanced Courses that you have an interest in! Instructor Pat Snyder has been teaching Broker Classes for over 35 years and has designed a Broker Licensing course that gives you great information as well as prepares you for the Broker’s License. We have divided the Broker’s Course into four modules: Property Management Feb. 5, 12, 18 & 25 Appraisal May 7, 13; June 3, 10 Real Estate Law March 4, 7, 14 & 18 Cram Course Date TBD Brokerage April 1, 8, 15 & 22 Cost of the modules are $200 each or $750 if you register for all (4) four. To view the upcoming Broker Licensing schedule, visit www.vpar.org. FREE Lunch & Learn Seminar: “New Homes, Demystified” on Thursday, March 14th from Noon – 1 P.M. Join us on Thursday, March 14th from 12- 1 Refreshments are generously sponsored by Cypress Creek! The New Homes Committee led by Butch Boykin will guide you thru negotiating a New Home Sale and dispel any concerns you may have. Finally understand the Builder’s Contract! REALTOR® Enrichment Series: “Risk Reduction for Property Managers and the Mold Related Claims” on March 21st 2:00 – 4:00 P.M. Join us on Thursday, March 21st from 2:00 – 4:00 P.M. for a brand new educational seminar on Property Management issues. Instructed by Bert Kelly of Jones, Blechman, Woltz & Kelly and Lauren Ozanich of ServePro and will be sent in for approval for 2 hours CE/PLE credits. Cost is $20 for members and $25 for non-members. Mark Your Calendars Now for Upcoming February Courses & Events March 4, 2013 – PYPN Seminar – Learn How to Invest & Work with Investors – At El Tapatio/Noon March 5, 2013 – 8 Hour Required Continuing Education Course March 5, 2013 – Mortgage Reform/VAR Course March 11, 2013 – New Member Indoctrination Course March 14, 2013 – FREE Lunch & Learn March 18, 2013 – VPAR After Hours Social March 21, 2013 – RES Course: Risk Reduction for Property Managers March 23, 2013 – OSC Banquet at the Newport News Marriott at City Center March 25 - Residential Standard Agency Course March 25, 2013 – Night Court March 25 – 27, 2013 – New Agent PLE and CE Courses

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AVECTRA is coming! VPAR has been working diligently to transition to our new database system Avectra and VPAR is finally ready. As VPAR begins the transition to the new Avectra database, targeted for the end of March, VPAR wanted to make you aware of the changes that will be happening. Avectra will give VPAR the ability to breakdown our members into categories of how you do business, i.e. New Homes, Appraiser, Property Managers, Brokers, Resale, Commercial or if you have two categories, we will have that option as well. We will be able to streamline our communications to our members as more defined and direct as to not overwhelm your emails. We will now have the ability to have a “Social” side. We will be able to add data from your social media profile (Facebook, Twitter, etc.) to our member profile and enhance the ability to map member relationships, uncover valued social networks and increase personalized service and communication. VPAR will be able to leverage the power of social media to promote the value of VPAR events, create unique event profiles, and build communities around events so attendees can easily find and connect with one another. We will be turning your member’s online profile into a Facebook-like wall of relevant content and personal connections. Easily allow our members to connect with other individuals, groups and engage with internal and external audiences in new, dynamic ways And this is just the tip of the iceberg! Avectra will give our committees an opportunity to have ongoing discussions via a message board that only the committee will be able to see. This will help with getting more done without having to always have meetings. VPAR is very excited about the transition so please during this time of transition, please be patient as staff continues with their daily work as well as, to train on the Avectra system. We look forward to this new phase of VPAR!

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Governmental Affairs Update Continued! FEDERAL VPAR has the distinction of having two members serving as Federal Political Coordinators (FPC) and being the lead REALTOR® contact for two Members of Congress. REALTOR® Mary Beth Pauley is the FPC for Congressman Rob Wittman (R-1st). Newly appointed this year, Mary Beth has had several meetings and discussions with the Congressman already, and more are being planned. For Congressman Bobby Scott (D-3rd), REALTOR® Chandra Patterson serves as the FPC. Chandra has held this position for several years, and is widely considered at VAR and NAR as one of the most effective, active FPCs in the country. She filed nearly two dozen field reports last year to detail meetings and interactions with the Congressman. Together, these REALTORS® build strong relationships, understand the issues, express the NAR position to the Congressmen and serve as the face of the REALTOR® Party. Please take a minute to thank them for their time and their service!

NAR Urges CFPB to Fix Qualified Mortgage Cap on Fees and Points On Friday, February 22, 2013, NAR submitted comments on the Ability to Repay/Qualified Mortgage (QM) concurrent proposal seeking guidance on the calculation of fees and points and other matters such as rural mortgage access and non-profit lending. NAR urged the CFPB to fix the cap on fees and points with regard to counting of originator compensation, GSE loan level price adjustments, and title insurance charges. NAR also urged the CFPB to address issues that would make it harder for rural lenders as well as non-profits such as Habitat for Humanity to serve the communities they serve. NAR continues to work on a legislative fix on the issue of the fees and points calculation. NAR expects that Representatives Bill Huizenga (R-MI) and David Scott (D-GA) will reintroduce the “Consumer Mortgage Choice Act” shortly which addresses these issues. For additional information and details, or if you have questions, please do not hesitate to contact VPAR’s Legislative Consultant, Susan Gaston, at 757-871-1445 or at susan@gastongroup.com.

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VPAR will be closed Friday, March 29th in observance of Good Friday

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2013 Education and Events Year at a Glance March 4th – Broker Licensing Course – Real Estate Law 5th – 8 Hour Required CE Course 11th – New Member Indoctrination Course 14th – Lunch & Learn Free Course 18th – After Hours Social 21st – REALTOR® Enrichment Series 23rd – OSC Awards Banquet – Newport News Marriott at City Center 25th – Night Court 25th – 27th – Post Licensing Course Series April 9th – 8 Hour Required CE Course 11th – Lunch & Learn Free Course 15th – After Hours Social 16th – General Membership Breakfast 18th – REALTOR® Enrichment Series 25th – VRLTA Seminar with Chip Dicks May 6th- New Member Indoctrination 9th REALTOR® Fest Trade Show 9th – National Speaker Terry Watson – REALTOR® Fest 13th – 8 Hour Required CE Course 13th – After Hours Social 16th – REALTOR® Enrichment Series 20th – Residential Standard Agency 20th – Night Court 21st – 8 Hour Elective Course 23rd – Lunch & Learn Free Course June 6th – Lunch & Learn Free Course 11th – 8 Hour Required CE Course 13th – Expanding Housing Opportunities – NAR Designation 14th – Employer Assisted Housing – NAR Designation 17th – After Hours Social 20th – REALTOR® Enrichment Series 25th- 8 Hour Broker/Manager 8 Hour CE Course

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July 8th- New Member Indoctrination Course 9th – 8 Hour Required CE Course 15th – Night Court 18th – REALTOR® Enrichment Series 22nd - Residential Standard Agency Course 22nd – After Hours Social August 8th – Lunch & Learn Free Course 12th- 8 Hour Required CE Course 15th – REALTOR® Enrichment Series 19th – After Hours Social 27th – Broker/Manager 8 Hour CE Course September 9th – New Member Indoctrination Course 10th – 8 Hour Required CE Course 12th – Lunch & Learn Free Course 16th – Night Court 17th – 8 Hour Elective CE course 19th – REALTOR® Enrichment Series 23rd – Residential Standard Agency Course 23rd – 25th – Post Licensing Course Series 23rd – After Hours Social October 7th – 8 Hour Required CE Course 10th – Lunch & Learn Free Course 15th – Broker/Manager 8 Hour CE Course 17th – REALTOR® Enrichment Series 21st - After Hours Social 22nd – General Membership Breakfast 25th – Broker/Manager Retreat November 4th – New Member Indoctrination Course 5th – REALTOR® Enrichment Series 12th – 8 Hour Required CE Course 14th – Lunch & Learn Free Course 18th – Residential Standard Agency Course 18th – After Hours Social 19th – 8 Hour Elective CE Course December 10th – 8 Hour Required CE Course 16th – VPAR Holiday Social March 2013 -2009 page -29 November page

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continued from pg 1 The trick in Virginia has been to convince a public that dislikes taxes almost as much as it dislikes traffic jams that the way forward requires new revenue. The new plan would do so by replacing the 17.5 cents-per-gallon tax on gasoline — which had not been changed since 1987 — with a new 3.5 percent wholesale tax on motor fuels that will keep pace with economic growth and i nflation. Supporters say the average motorist could pay as much $15 more a month. The deal’s major components also include boosting the sales tax on nonfood merchandise from 5 percent to 5.3 percent and devoting a fatter slice of existing revenue to transportation instead of schools, public safety and other services. And it creates a regional funding mechanism that boosts the sales tax to 6 percent in Northern Virginia and Hampton Roads and requires those funds to be spent only on transportation projects in those areas. To win passage, Republicans had to swallow their aversion to raising taxes, and Democrats had to accept diverting as much as $200 million a year in general fund revenue toward roads instead of schools or other services. Supporters praised the plan to raise about $880 million a year, including the new dedicated streams of money for mass transit, while opponents spoke out against taxing different parts of the state at different rates or doubling the registration fee on electric cars to $100 and applying it to alternative fuel and hybrid vehicles, too. “Why are we moving backwards on a deal that hurts nondrivers?” Sen. Adam P. Ebbin (D-Alexandria) wondered.

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RPAC Update, Keith Canty, RPAC Chair And a rocking good time was had by all. This was the report of the bus trip to Richmond. Thanks to Evelyn Larose and Atlantic Bay, there were semi-catered breakfast sandwiches on the morning trip up and adult stress relief beverages on the return trip, Wow! I missed it. I went up the Tuesday before. The training classes I got were great and presented much needed insight on emerging industry topics. On Tuesday evening, VPAR was celebrated at the RPAC Awards reception. We exceeded our 2012 RPAC goal. I got to nervously hold the engraved glass award – I really was nervous about dropping it. Now that the award is safely on display at the VPAR office, I want to thank everyone for their participation and support. We are off to a very good start this year with Lynn Grimsely, our REB representative putting the first RPAC major donor check in my hand. Thanks Lynn. REALTOR® Day on the Hill kicked off Wednesday morning after the rocking bus ride, with a comprehensive briefs by our Government Affairs Representative and the clerks of both houses. We then took our message to our respective delegates and state senators. Their responses were favorable and ranged from, “we get it and will move forward” to “here is how you can help me help get this done.” A profitable and informative day. Of our several points transportation seemed to be foremost on everyone’s mind. The universal sentiment was that some action needed to be and would be done. I know we were heard. The reception was held at the Jefferson Hotel. If you haven’t seen the Jefferson, it is a neat place to go. Gorgeous restored Tiffany skylights adorn the main lobby and mezzanine, really beautiful. RPAC major donors were honored at a special event during the reception with the governor in attendance greeting and talking to the honorees. Pretty cool. After all was said and done the event was a success. The only way it could be better would be for more VPAR members to attend. Our presence is a vital visual testament to our awareness of and involvement in the processes that protect and encourage homeownership. T he officials we visited were pleased to see us and hear what we had to say. Our plans for RPAC this year involve you and will result in us strengthening our reputation as a professionally active, aware and involved association. Strong RPAC representation insures that our voice is heard, respected and acted on. While money is important, member participation lends substance and gravity to our positions and recommendations. When we speak on real estate issues with large member participation elected officials sit up, take notice and listen – action follows. From everything I hear and see, this is going to be a propitious year for real estate and therefore for REALTORs . We are going to have to be even more involved and diligent. This year’s REALTOR Day on the Hill while productive, fun and informative, made me realize even more that we REALTORs through RPAC are homeowners’ first, last and best line of defense against threats to the benefits of home ownership. Let’s make our mark, stand up and be counted, join forces with RPAC. If you didn’t get a chance to attend REALTOR Day on the Hill this year, talk to someone who did and make plans to go next year – you will be glad you did.

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Restaurant of the Month

Thank you to the wonderful staff of Bar Louie.

Thank you to our sponsor:

VPAR March Social Monday, March 18, 2013 5—7 pm

711 Thimble Shoals Blvd. Newport News (City Center)

SEE YOU THERE! Free appetizers!

March Social Sponsored By : Towne Bring your business cards for DOOR

PRIZES!

New this year: Register at each monthly social and you will be automatically entered for our end of year drawing for big prizes!

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General Membership Breakfast with Dr. Lawrence Yun Many thanks to Dr. Yun for joining us February 19th at our General Membership Breakfast. If you would like to download his presentation from the General Membership Breakfast please use this link. Dr. Lawrence Yun Presentation

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Go to www.VPAR.org for the Calendar of Events REALTOR 速 Update Update REALTOR7

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VPAR March 2013 REALTOR Update