VPAR September 2012 REALTOR Update by Virginia Peninsula Association of REALTORS

REALTOR® Update September 2012

Published by the Virginia Peninsula Association of REALTORS®

REALTOR® Safety - The 10-Second Rule One of the most common reasons that people find themselves in dangerous situations is that they weren’t paying attention. Take a few precious seconds during the course of your day to assess your surroundings. Take 2 seconds when you arrive at your destination. • Is there any questionable activity in the area? • Are you parked in a well-lit, visible location? • Can you be blocked in the driveway by a prospect’s vehicle? Take 2 seconds after you step out of your car. • Are there suspicious people around? • Do you know exactly where you’re going? Take 2 seconds as you walk towards your destination. • Are people coming and going or is the area unusually quiet? • Do you observe any obstacles or hiding places in the parking lot or along the street? • Is anyone loitering in the area? Take 2 seconds at the door. • Do you have an uneasy feeling as you’re walking in? • Is someone following you in? Take 2 seconds as soon as you enter your destination. • Does anything seem out of place? • Is anyone present who shouldn’t be there or who isn’t expected? Safety in Just 10 Seconds It takes just 10 seconds to scope out your surroundings and spot and avoid danger. Make this “ten-second scan” a habit in your everyday work as a Real Estate Professional Then share it with someone else. Source: “What You Can Do About Safety,” REALTOR® Magazine, September 2000. Courtesy Night Owl/Vector Security, Landover, MD.) This article is part of the NATIONAL ASSOCIATION OF REALTORS®’ REALTOR® Safety Resources Kit.

Support your Affiliate Partners Today! A very special thank you to the following Partners for their continued support in 2012!

Diamond Sponsors

Atlantic Bay Mortgage - (757) 874-6040 SunTrust Mortgage - Newport News & Hampton (757) 873-7920 or (757) 896-4982

Platinum Sponsors

Real Estate Information Network (REIN) - 757-531-7900

Gold Sponsors

National Exterminating Co. Inc - 757-599-3621 PNC Mortgage - 757-599-6882 Towne Bank Mortgage - 757-687-5005

Silver Sponsors

Commonwealth Exterminating Co. - 757-873-2030 Fulton Mortgage Co - 757-223-4330 Jones, Blechman, Woltz & Kelly - 757-873-8000 Prime Lending - 757-344-3366 Shaheen Law Firm - 757-369-2831

Bronze Sponsors

2-10 Home Buyers Warranty - 757-572-8782 Cox Communications - 757-222-8394 Union Mortgage Group - 757-870-1266

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 Sheila Dann, ABR, GRI, SFR President-Elect Pamela McKinney Lewis, ABR, SFR Treasurer Sharon Snyder-Bartels Immediate Past President Dale Chandler Directors Carol Davanay, ABR, GREEN • Kimi Dornan, ABR, GRI, SFR Theresa Embler • Lynn Grimsley, ABR, AHWD, CRS, GRI, SRES Chandra Patterson • Regina Scott, ABR, GRI Barbara Lassley, ABR, SFR 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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Peninsula Real Estate School Owned and operated by

Virginia Peninsula Association of REALTORS®

Residential Standard Agency Location

Price

VPAR Building 1001 North Campus Parkway Hampton, VA 23666

Members—$30 Non-Members—$35

COURSE OBJECTIVES:

THIS IS REQUIRED TO RENEW YOUR LICENSE STARTING JULY 1

Participants completing this seminar will be able to do the following: • Learn and utilize Virginia agency law terminology as a real estate licensee; • Review the different types of brokerage relation‐ ships available to real estate licensees so a partici‐ pant can select the most suitable brokerage rela‐ tionship; • Understand the duties of a standard agent, lim‐ ited service agent and independent contractor so that a participant can apply those duties to all clients and customers; • Recognize potential liability issues with an eye to avoiding Virginia Real Estate Board (“VREB”) viola‐ tions; and • Review new dual agency/dual representation and designated agency/designated representation requirements and identify the correct disclosure form(s) to utilize in a specific transaction.

Course Schedule Wednesday, June 20, 9:00 am—12:00 pm Tuesday, July 24 1:00‐4:00 pm Sponsored by: SUNTRUST MORTGAGE

Friday, September 14 9:00 am—12:00 pm Wednesday, Nov. 7 1:00‐4:00 pm

Method of Payment Check

Registration Form

MasterCard

Visa

Discover Card

AmEx

Bill office (VPAR only)

Name: Address: City, ZIP:

Credit Card # Exp. Date:

Phone:

Signature

Email: License #

Member

Non-Member:

Exp. Date:

Payment MUST be made at time of registration. Register online at www.vpar.org and click on Member Service Center to login or complete this form and fax to: 596-3911 or email to: jo@vpar.org. VPAR reserves the right to cancel a class if less than 15 people are registered. Students must give 48 hours notice of cancellation for a full refund. * Please notify us in advance if you have a disability that requires special services.

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President’s Message by Sheila Dann, 2012 VPAR President

Thank you to the Public Policy Committee for a FUN and entertaining Mizz RPAC event. A special thanks to “The Ladies” who made the event a success. You were all beautiful and talented! Our Nominating Committee did a fantastic job interviewing and placing candidates for VPAR’s 2013 Board of Directors. Please mark your calendar to vote on Monday, October 15 and to attend the General Membership Breakfast on Tuesday, October 16 at VPAR. Did you read your most recent Commonwealth? Starting with the cover it is packed with good news for Virginia REATLORS®. Here are a few of the articles you want to be sure to read:

Register for the VAR convention in Virginia Beach, October 5-6. VPAR’s very own Brian Lytle is one of the featured speakers. Please begin your planning process for 2013. Planning now will create a productive and focused 2013. VPAR has scheduled several classes in the last quarter to assist you with your plan if you need motivation. Our market is improving make sure you remain successful. Set your goals high. You can do it! October is right around the corner and The VAR Real Show will again be in Virginia Beach this year so take the time to invest in your career and sign up today. There is something there that YOU can use in your Business.

-Virginia home prices jump in May... -Easier short sales for military with Fannie/Freddie loans... -Once again: There is no 3.8% real estate tax... -Virginia vs. the USA... -Signs of Life...

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New Agency Laws take effect July 1. Know the Law! go to www. VArealtor.com/agency September 5 November2012 2009- page - page

Off My Desk… CEO Report Can you believe it, it is already September! Where did the summer go? I thought in this article I would talk about safety as September is designated REALTOR® Safety Month. We continue the hear stories of harm coming to REALTOR® members from around the country, due to frequent contact with strangers in various public and private locations, REALTORS® face more on-the-job risks than many other business professionals. If you ever hear of an attack on a real estate agent, please inform VPAR as soon as possible, so that we can spread the word throughout Virginia. Here are some resources from realtor.org to help keep yourself, your clients and your colleagues safe. Office Safety Forms A variety of pre-designed safety forms that you can customize and use in your office.

Agent Identiﬁcation Form Ofﬁce Safety Action Plan

Agent Itinerary Prospect Identiﬁcation Form

Tips From Other Safety Programs The following REALTOR® Associations and organizations have either produced extensive safety programs or offer safety tools for their members. HouseLogic - Realtor® Content Resource, your destination for free, original home ownership content you can use in your consumer communications, offers Help Clients Stay Safe with Home Security Tips. Arizona Association of REALTORS® - Check out a variety of REALTOR® Safety brochures, articles and posters and browse a list of useful safety resources. Georgia Association of REALTORS® - Investigate this Association’s REALTOR® Safety Manual, get agent ID and itinerary forms, and prospect forms, and read some true stories of safety threats faced by fellow REALTORS®. Louisiana REALTORS® Association - Get many helpful tips for staying safe on the job in the Louisiana REALTORS® Safety brochure, including: protecting yourself from criminals, ensuring open house safety, ATM safety, and safety on the road, and recommended office procedures. Massachusetts Association of REALTORS® - Browse REALTOR® Safety guidelines, including tips on safely showing commercial properties, protecting yourself and your clients, and protecting yourself online. You can also watch a video about safety strategies for REALTORS® and clients. MRIS - Read about how the nation’s largest MLS system is benefiting from a safety smartphone app. Real Estate Safety Council - The Real Estate Safety Council is a nonprofit group of real estate industry leaders dedicated to improving safety in the workplace. The Safety Council has developed a variety of tools to help you stay safe, including a Personal Safety Guide for REALTORS®.

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“REALTOR® SAFETY: AWARENESS IS KEY” Lunch and Learn Seminar

You can bring a brown bag lunch & we provide the free education in an informal atmosphere! Date: September 13, 2012 Time: 12:00 noon – 1:00 p.m. Where: VPAR Headquarters, Training Room A Cost: FREE for Members , $5.00 Non-Members A Speaker from the Hampton Police Department will cover important topics for your safety on the job & at home!

*Help your sellers better protect themselves & their property. *Practical and useful info to keep you safe showing property. *Latest safety related Smartphone app information distributed. *Get your Red Pepper Spray at $5.25 while they last!

Please RSVP for the Lunch & Learn by registering online at http://www.members.vpar.org, by calling 599-5222 or emailing Jo Daly at jo@vpar.org Should you have any questions, please do not hesitate to call! 1001 North Campus Parkway, Hampton, VA 23666

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Legal Corner by Bert V. Kelly, Jr Attorny

Understandings Mold Disclosures Most of you are aware that both the Virginia Residential Landlord Tenant Act (VRLTA)’ and the Landlord Tenant Act (LTA) have provisions addressing disclosure of mold in dwelling units. $ 55248.1122 of the VRLTA provides that as a part of the written report of a move-in inspection, a landlord is required to disclose whether there is visible evidence of mold in areas readily accessible within the interior of the dwelling unit. If the disclosure indicates there is visible evidence of molds, the tenant has the option to terminate the tenancy or elect to remain, in which case the landlord is required to remediate within five (5) business days. Thereafter, a reinspection to confirm that there is no additional evidence of mold is required as is a new written disclosure. The companion statute in the LTA, S 55225.7, mirrors the VRLTA with one significant difference. Disclosure under the LTA is at the option of the landlord, the VRLTA reading “shall disclose”, the LTA “may disclose”. Owners of single-family residences where the owner is a natural person, or their estate, with no more than ten (10) single-family residences or four (4) condominiums are exempt from the VRLTA. Note that the exemption refers to natural persons which means that owners holding properties in limited liability companies, partnerships, etc. would not be exempt.

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I believe the best practice is to give mold disclosures in all cases but not having done so in a recent tenant claim worked to the advantage of the landlord and property manager. In that case the owner did not give a mold disclosure and the tenant, within a few days of the tenancy, found evidence of mold. The tenant’s attorney took the position that having failed to give the mold disclosure, the tenant was not afforded an opportunity to terminate the lease and the attorney gave notice of termination. The property manager and owner were then sued for thousands of dollars in personal property remediation expenses, move-out costs, utilities and attorney’s fees. The owner counterclaimed for breach of the lease agreement and lost rents. The Court dismissed the tenant’s claim finding that the owner owned only one (1) residence and no mold disclosure was required under the LTA. Judgment was entered against the tenant for lost rents and attorney’s fees.

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Member News Welcome New Members!

The following individuals have been granted provisional membership. Please submit any concerns to VPAR in writing no later than 10 days after this publication:

John Hyland – Virginia Capital Realty Kevin Roby – Coldwell Banker Professional Mardi Truitt – Abbitt Realty Walter Douglas – Era Real Estate Profs Jennifer Sgambelluri – Amanda M. Walsh Real Estate Alyssa Godwin – Liz Moore & Associates Leslie Moore – William E. Wood Jamie Shannon – Liz Moore & Associates Mayssa Sukkar – William E. Wood Members on the Move Lynne Buggy Colleen Dunkailo Gregory Hatcher Archie Lassiter Roy Pray Melissa Santiago Lisa Sharpe June Sullivan

- Transfers to ERA Real Estate Profs. to William E. Wood to Virginia Capital Realty to Amanda M. Walsh Realty to Coldwell Banker Traditions to Keller Williams Realty NN/Pen to Progressive Real Estate & Auction to William E. Wood

New Affiliate Members Alpha Pest Solutions The Roofing Company Visiting Angels – Home Care For Seniors

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September 1414 November2012 2009- page - page

Altlantic Bay welcomes

another GREAT addition

to our award-winning team!

Renea

matteR

Mortgage Banker Assistant to Lance Musser

757 810-6064 cell 757 874-6040 office 757 419-2950 fax e-mail: reneamatter@atlanticbay.com web page: atlanticbay.com/reneamatter 11715 Jefferson Ave. Newport News, VA 23606

Need to close on time? call us today! atlanticbay.com

Atlantic Bay Mortgage Group LLC is licensed by the Virginia State Corporation Commission, license #MC-936, NMLS 72043.

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September 1515 November2012 2009- page - page

Governmental2012 Affairs Update Continued! RPAC Contributors Want2012 to be an R-Man? Goal: $19,200

the first-time tax credit to military, intelli~ Total Raised ashomebuyer of 8/30:$11,643.00 gence and diplomatic personnel. To be eligible, pin

ould you like to be the first to participate in

(H.R. 3590)Member now goes to the NAR’s newest way to keep you of 2009. The measure Contributing (As of July 31, 2012) Doninformed Duty Senate. Timing and process for its consideration of ($25 - $98) breaking news? Sign up for the REALTOR® Caye GarrettMo81 participants are unknown. STERLING “R” ($1000 $2500) Michael Gleason bile Action Network (we like to call it R-MAN), and Joe Carney* Dana R. Holben you’ll receive text messages right on your mobile 100% Process Office Participation Dale Chandler Sandra Hood VPI Interim Complaint Available in Nophone with instant and important information. We’ll Lynn Grimsley Sharon Howard *pledge vember 2009 The Independent Valuation Proalso use R-MAN to communicate with you when we Sandy Wagner Dewey Hutchins, Jr.tection Institute (IVPI) was announced as an inteneed your help. It’s not a Call for Action (CFA), but Dick Hyde rather a quickCLUB and ($750 easy -way to alertSancy you to an im- gral part of the Home Valuation Code of Conduct PRESIDENT’S $999) Isham pending CFA or to connect you withYvonne your Member Johnson (HVCC). The purpose of the IVPI is to receive of Congress for an ($500 instant call to relay vital GOVERNOR’S CLUB - $749) Lynn KirkREAL- complaints from appraisers and users of appraisal services on the improper influence or attempted imTOR®Dann information. Visit http://www.realtoractionDavid Lotz Sheila Jon May Karen Enriquez center.com/realtor-party/realtor-mobile-action.html proper influence of appraisers. The IVPI has not yet Pamela McKinney Elizabeth Moore been established but an interim web site is currently for more details Lewis* and to subscribe to this service! Donna Moyer under development. CAPITOL INSIDER - $499) about Tax Harmony Munger angel, Pelosi($250 Comment Credit ExCarl Burt* Nachman annie Mae and Freddie Mac announced a tension - At a press conference Barry on October 8, Keith Canty Helen A Nachman complaint form that will appear on the interim House Speaker Pelosi (D-CA) responded favorably Eugenia Jackson Deanne Newingham when asked about the likelihood of extending the Independent Valuation Protection Institute (IVPI) Chandra Patterson* Karen Pennington first-time homebuyer tax credit. When asked about Complaint Web site. The complaint form is for demValerie Smoot Perry Pilgeim the possibility of further housing legislation, she re- onstration purposes only and is not available for filPam Strahorn-Roe Katherine Ridley sponded “Yes, there is under consideration whether ing a complaint until the Web site is publicly availRobert “Sully” Sullivan Tu Ritter* we extend the first time homeowners Patsy credit.Sheppard And the able in November 2009. The Web site, http://www. Teresa Sullivan ivpicomplaint.org, will collect complaints from any Sharon Snyder-Bartels question is, would that be just first time homeown99 CLUB ($99 -you $249) Spencer ers or would open it up to otherCowles purchasers of party about non-compliance with the HVCC or atMartha Anders Lynn Teravainen homes?” She shed no further light on whether the tempted improper influencing of appraisers or the Rick Brandt Peggy credit would be expanded, but did note thatTodd the cost appraisal process. Dorothy Burch Jeri Walter of an expansion would be the major consideration Bob Burch Sam White HA May Further Delay Implementation of New in the decision process. Lou Call Sandy White Condominium Rules - The new condominium Lori Carlson David Whitley hen asked for comment, Bloomberg Wire Ser- approval process under Mortgagee Letter 2009-19 Vicky Carter Dot Wright vices reports that Chairman Rangel (D-NY) was to be effective for all case numbers assigned Katey Chapman said, “There’s Robert Chapman no question that I think it should be on or after October 1, 2009. While the new effecextended; for how long, we should discuss.” As yet, tive date is for case numbers assigned on or after Vallee DeLong November 2, 2009, NAR understands that the new no formal action has been announced. Hurbert Dickens

effective date may be delayed even further. The site Kimbel Dornan ouse Extends Credit for Military, Intelligence condo and manufactured housing condo project and Diplomatic Personnel - The House has changes that have already taken effect are not afContributions deductivle for Federal tax purposes.fected RPAC contributions are voluntary and all used for political voted 416 - 0are to not extend through 2010 income the benefits by this delay. However, other rules of the purposes. The amount suggested is merely a guideline and you may contribute more or less than the suggested amount. You condominium program remain in effect. For exammay refuse to contribute without reprisal or otherwise affecting your membership rights. Seventy percent of your contribution lenders are permitted toNational offer spot until goes to your State Association to support state and local political ple, candidates. Thirty percent is sent to RPACloans to support Federal candidates against your limits under 2 U.S.C. 441a; afterthe the state reaches it RPAC goal, may elect to retain your newPAC condominium rules goit into effect.

entire contribution for use in supporting state and local candidates.

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

Local Hampton VPAR’s Legislative Consultant has been asked by City Manager Mary Bunting to represent the Association on a citizens committee to assist in the implementation of the recommended goals of the City’s Community Plan. VPAR’s role will be to focus not only on the housing/neighborhoods goals and vision of the Plan, but also to monitor the City’s progress on the Plan’s implementation. In our continued outreach efforts with elected officials, VPAR met with newly sworn-in Councilmember Billy Hobbs last month. (VPAR’s Public Policy Committee endorsed Mr. Hobbs in the 2012 May Council elections.) The purpose of the meeting was to discuss mutual efforts between VPAR and the City, especially touching on the work of the Zoning Ordinance Advisory Committee, housing education to the Planning Commission and simply, building our relationship with Mr. Hobbs. It was a very productive meeting. VPAR and housing has a friend in this Councilmember. Newport News VPAR met with City Manager Neil Morgan in August to discuss a variety of issues, including VPAR’s role on the Regulations Committee and on more use of VPAR as a housing resource to staff and Council. VPAR also met with Councilwoman Tina Vick in August, where the primary topics were the Aaron Brooks project, the proposed Camp Morrison project and workforce housing issues in general. VPAR’s Public Policy Committee endorsed Ms. Vick in the May 2012 elections. Poquoson The City has reached out to VPAR to be its partner in the development of a City marketing strategy. Working in conjunction with City Manager Randy Wheeler and Economic Development Director Dave Callis, a small focus group of REALTOR ® Update Update REALTOR7

VPAR members will meet with Poquson’s leadership to begin work on the best ways to market the City. The initial meeting is set for September 6th. Many thanks to VPAR members Kimi Dornan, Sandra Hood, Deanna Renn, Bob “Sully” Sullivan and Peggy Todd. York County At the request of Planning Director Tim Cross, VPAR made a presentation on affordable and workforce housing to the Planning Commission at its August 16th work session. Specific details were provided on how the County may implement an Affordable Dwelling Unit Ordinance, how the County demographics play into that rezoning opportunity and how other area localities have implemented affordable and workforce housing programs into their comprehensive plans and zoning ordinances. We will continue to provide this information to the County as it moves forward in the review of its Comprehensive Plan. ELECTIONS Look for information coming to VPAR (and you) regarding voter registration! Deadline for registering to vote in the November 6th general election is October 15th. VPAR will have voter registration applications and other information available to the membership and their clients. We are trying not only to increase the voter rolls within our own organization, but also to be a catalyst for increased voter registration throughout the area. If you need voter registration information, stop by VPAR in the coming weeks to see how we can help. More details will be coming your way once the final pieces of this important Voter Registration Drive are in place! STATE VPAR’s Tom Sullivan, Dana Holben and Susan Gaston participated in the August 27th VAR Public Policy Committee. One of the most important elements of this meeting was the potential legislative agenda the REALTORS® may propose in the 2013 General Assembly Session. A proposal submitted by VPAR in its legislative package is receiving considerable attention: Real Estate Licensee Liability for Reliance on Public Information. Attempted to be “fixed” in the 2012 Session via Del. David Yancey’s (-94th) HB 724, this legislation became caught in the crosshairs of the House Courts Committee, which remanded September 1818 November2012 2009- page - page

Governmental GovernmentalAffairs AffairsUpdate UpdateContinued! Continued! the issue to the Housing Commission. The the FHFA Announces Newtax Short Sale Guidance first-time homebuyer credit to military, intelliWant to be anVirginia R-Man?

Commission hear status report ould youmet likeAugust to be 1st thetofirst to aparticipate in on this matter. There is significant opposition from NAR’s Trial newest way to keep you (VTLA) informed the Virginia Lawyers Association butof breaking news?toSign up formiddle the REALTOR® we are hoping find some ground withMothe Action VTLA. Network The bill was its to sixth at press bile (weinlike callversion it R-MAN), and time, and a status report has been given to you’ll receive text messages right on your Delmobile egate with Yancey by VPAR. phone instant and important information. We’ll also use R-MAN to communicate with you when In addition to having regular conversations with we need your Yancey help. It’sonnot Call for Action (CFA), Delegate thea issue discussed above,but VPARahas held regular andyou conversarather quick and easy meetings way to alert to an imtions with the following members of our legislative pending CFA or to connect you with your Member ofdelegations: Congress for an instant call to relay vital REALTOR® information. Visit http://www.realtoractionSen. Thomas K. Norment, Jr. (R-3rd) center.com/realtor-party/realtor-mobile-action.html Majority Leader, Senate of Virginia Sen. Mamie Locke for more details and (D-2nd) to subscribe to this service! Chair, Viginia Legislative Black Caucus, Member of the Virginia Housing Commission angel, Pelosi Comment about Tax Credit ExDel.tension Rick Morris (R-64th) - At a press conference on October 8, Del. Mike Watson (R-93rd) House Speaker Pelosi (D-CA) responded favorably Del. Brenda Pogge (R-96th) when asked about likelihood of extending the Del. Gordon Helselthe (R-91st) first-time homebuyer tax credit. When asked about FEDERAL the possibility of further housing legislation, she responded “Yes, there is under consideration whether Speaking of meetings with legislators, leadership we extend the firstWAAR time homeowners credit. And the from VPAR and held its annual August question is, would thatwith be just first time homeownrecess lunch meeting Congressman Rob Witers or (R-1st) would you open it22nd. up to As other purchasers of tman on August it has been in the past, ourShe timeshed with Rep. Wittman homes?” no further lightwas on extremely whether the productive. of conversation included se-cost credit would Topics be expanded, but did note that the questration and the impact of defense cuts on the ofHampton an expansion be the major consideration Roadswould economy, particularly the housing inmarket; the decision process. of the Mortgage Interthe preservation est Deduction and the ongoing challenges that asked for comment, Bloomberg Wire Sercredithen worthy homeowners face in the short sales and foreclosure process (with a focus on the(D-NY) very vices reports that Chairman Rangel real, “There’s negative no impacts on our said, question thatmilitary I thinkhomeownit should be ers). The Congressman offered office to As be yet, the extended; for how long, we shouldhis discuss.” “heavy hand” in short sales where intervention is no formal action been announced. necessary. If youhas have a client in the 1st District who is “stuck” in the short sales process, please ouseCongressman Extends Credit for Military, Intelligence contact Wittman’s Yorktown district and Personnel - ThetoHouse office at Diplomatic 757-874-6687. Many thanks VPAR has President Dann,through Public Policy Committee voted 416 -Sheila 0 to extend 2010 the benefits Chair Harmony Munger and Public Policy Vice Chair Keith Canty for being part of this important meeting.

W H

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gence and diplomatic personnel. To be eligible, pin On August 21, 2012, the Federal Housing Finance 2009. The(FHFA, measure 3590) now goes to theand Agency the (H.R. conservator of Fannie Mae Senate. Timing and process for its consideration Freddie Mac), announced that Fannie Mae and of are unknown. Freddie Mac would be issuing new guidelines to enhance and streamline the short sale process. Servicers of Fannie and Freddie will beinalVPI Interim Complaint Processloans Available Nolowed to approve short sales for borrowers with sevember 2009 The Independent Valuation Provere financial hardship with limited documentation, tection (IVPI) as an inteprovideInstitute borrowers whowas are announced current on their loan the gral partforofa the Home of Conduct option short sale ifValuation they faceCode a financial hardship suchThe as divorce, (HVCC). purposelong of distance the IVPIemployment is to receive transfer, orfrom a severe disability, provide valuacomplaints appraisers andand users of appraisal tion guidance to real estate agents early on in the services onprocess. the improper influence or attempted imshort sale proper influence of appraisers. The IVPI not yet Servicers are required to implement thehas changes been established interim web siteand is currently by Nov. 1, 2012. but Foran more information to read the announcement, under development. visit http://www.fhfa.gov/webfiles/24211/ShortSalesPRFactFinal.pdf. annie Mae and Freddie Mac announced a Government Extends to Request complaint form that Period will appear on the Review interim of Foreclosure Handling to Dec. 31, 2012 Independent Valuation Protection Institute (IVPI) Complaint The complaintinform is or for2010 demBorrowersWeb whosite. faced foreclosure 2009 may be eligible for aonly freeand independent reviewfor of filonstration purposes is not available their foreclosures and they now have until Dec. 31, ing a complaint until the Web site is publicly avail2012, to make a request for that review. able in November 2009. The Web site, http://www. The reviews which were ordered by the Office of ivpicomplaint.org, complaints from the Comptroller ofwill the collect Currency (OCC) and theany party about non-compliance with cover the HVCC or atFederal Reserve in April of 2011 foreclosures handled improper by most major loan servicers. They are tempted influencing of appraisers or the intended process. to determine whether borrowers suffered appraisal financial injury due to improper handling of the foreclosure action and, ifDelay so, how much compensation HA May Further Implementation of New should be paid. Condominium Rules The new condominium OCC has mailed 4 million letters to likely eligible approval process under Letter 2009-19 borrowers notifying themMortgagee of this opportunity. Other was to be effective for all case borrowers who believe they are numbers eligible forassigned this review of their foreclosure canWhile request on or after October 1, 2009. theapplication new effecforms by calling (888) 952-9105. This theorthird tive date is for case numbers assignedison after extension of time for borrowers to request this free November 2, 2009, NAR understands that the new of cost review. For more details, go to effective date may be delayed even further. The site http://www.occ.gov/topics/consumer-protection/ condo and manufactured housing condo project foreclosure-prevention/correcting-foreclosure-practices.html. changes that have already taken effect are not affected by this delay. However, all other rules of the For additional details on these or any other issue, condominium program in effect. For examplease contact VPAR’sremain Legislative Consultant, ple, lenders are at permitted to offerorspot loansatuntil Susan Gaston, 757-871-1445 by e-mail the new condominium rules go into effect. susan@gastongroup.com.

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Eminent domain: Give it more thought In November, Virginians will vote for a constitutional amendment that many believe return the issue of property rights back to the courts for interpretation, and out of the General Assembly. In 2005, the Supreme Court ruled (in Kelo v. New London) that the city of New London, Conn., could use its power of eminent domain to take Susette Kelo’s house and transfer it to a private developer. The development of her property was considered a “public use” because it would generate jobs and tax revenues. VAR and many other state REALTOR® associations immediately began working with their respective state legislatures to enact provisions to protect property rights and limit government or private enterprise from taking property for “public use.” Thanks in large part to VAR’s leadership, in 2007 the Virginia General Assembly adopted eminent domain reforms to protect property owners. Despite the reforms, up for vote this November is an amendment to the Virginia constitution that would serve a similar purpose. It would permit the use of eminent domain only in cases involving “a public service company, public service corporation, or railroad … when such exercise is for the authorized provision of utility, common carrier, or railroad services.” It also says that “private gain, private benefit, private enterprise, increasing jobs, increasing tax revenue, or economic development,” does not qualify as “public use.” Our Stand By putting eminent domain restraints in the constitution rather than the Code of Virginia, the restrictions passed in 2007 would be superseded, and any issues involving eminent domain would be handled by a court, not in the General Assembly. The proposed amendment won’t protect property owners any more than the current law, and it could make it more difficult for legitimate public-use projects. Imagine that a town wants to widen a road to allow better traffic flow to an area being developed for a shopping center. It needs to use eminent domain to secure the land for the road. A constitutional amendment could prevent that from happening, or tie the process up in the courts, even though the town’s council held hearings and voted to allow the project — it’s clearly for the public good. And courts are notoriously unpredictable. Cluttering of the Constitution with non-essentials also becomes an invitation to lawyers and a reservoir of legal fees charged to taxpayers. Property owners need to know that their property cannot be taken away by a government entity without very good reason — a reason that focuses on the public good, as eminent domain was originally intended. But there is need and value to giving government entities reasonable eminent domain powers (while still protecting property owners with reforms). continued on page 23 REALTOR ® Update Update REALTOR7

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Your neighborhood lender is right around the corner. We’re here to help welcome you home. If you or someone you know is in the market for a home loan, look no further than the trusted experts at SunTrust Mortgage, Inc. We offer the experience and knowledge you’d expect from a national mortgage company and the service and convenience of a neighborhood lender. Our Loan Officers are here to help you, step-by-step, along the path to homeownership. We provide: • Financing for primary homes, second or vacation homes, and even investment properties • Hassle-free construction loans with true, one-time closings • A wide variety of mortgage products that can be tailored to meet your individual needs • An easy application process and competitive rates • Personal service and support — from start to finish To learn more, contact SunTrust Mortgage at one of our convenient neighborhood offices! SunTrust Mortgage — Newport News 11817 Canon Boulevard, Suite 600 Newport News, VA 23606 757.873.7920

SunTrust Mortgage — Hampton 2100 Executive Drive Hampton, VA 23669 757.896.4982

Equal Housing Lender. SunTrust Mortgage, Inc., 901 Semmes Avenue, Richmond, VA 23224, NMLS # 2915, is licensed by the Department of Corporations under the California Residential Mortgage Lending Act; is an Illinois Residential Mortgage Licensee; is a Lender in Massachusetts having Mortgage Lender license #s ML1216, ML0133, ML1432, ML1914, ML1913, ML1815, ML2411, ML1214, ML2442, ML2491, and ML2538; is licensed by the New Hampshire Banking Department; is licensed by the New Jersey Department of Banking and Insurance, toll free 1-800-330-4684; is a licensed lender in Rhode Island; and is doing business in Arizona as Crestar Mortgage, 7250 N. 16th Street, Ste. 100, Phoenix, AZ 85020. ©2012 SunTrust Banks, Inc. SunTrust, SunTrust Mortgage and Live Solid. Bank Solid. are federally registered service marks of SunTrust Banks, Inc. REV012312KB-R STMR1012

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Peninsula Real Estate School owned and operated by

Virginia Peninsula Association of REALTORS®

8-HR Continuing Education Classes Location

Time for ALL Classes

VPAR Building 1001 North Campus Parkway Hampton, VA 23666

8:30 a.m. - 5:00 p.m.

Price $50 for Members $60 for Non-Members

Payment MUST be made at time of registration. Register online at www.vpar.org and click on Member Service Center to login or complete this form and fax to: 757-596-3911 or email to: jo@vpar.org. VPAR reserves the right to cancel a class if less than 15 people are registered. Students must give 48 business hours notice of cancellation for a full refund. * Please notify us in advance if you have a disability that requires special services.

Registration Form Name Company Address State

City Zip

Phone

8 HR Required CE Class Dates Tuesday, Jan 17

Tuesday, July 10

Monday, Feb 13

Tuesday, Aug 7

Tuesday, Mar 6

Tuesday, Sept 11

Tuesday, Apr 10

Tuesday, Oct 2

Tuesday, May 8

Tuesday, Nov 13

Monday, June 11

Tuesday, Dec 4

8 HR Required CE Classes Include

License #

∗

Exp. Date

Method of Payment  Check  Visa  AMX (NEW)

 Invoice Office  MasterCard  Discover Card (NEW)

Credit Card # Exp. Date Signature

∗ ∗ ∗ ∗

8 HR Elective CE Class Dates Monday, Jan 23

Thursday, Aug 16

Tuesday, June 19

Monday, Oct 22

8HR Elective CE Classes Include

Amount Due (check appropriate box)  VPAR Member $50  Non-Member $60

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Code of Ethics (Meets NAR Quadrennial Requirements) & Code of Conduct Fair Housing Legal Updates & Emerging Trends (Law) Real Estate Contracts Real Estate Agency

∗ ∗ ∗ ∗ ∗

Anti-Trust Do-Nots Safety Disclosures Professionalism

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Education Opportunities Lunch and Learn – REALTOR® Safety – Awareness is the Key Thursday, September 13, 2012 Noon – 1:00 p.m. VPAR Training Room A Cost: FREE for Members $5.00 Non-Members Bring your lunch and spend hour gaining practical information and measures you need to guard your safety while doing your job! If you take pause when meeting strangers or going into vacant houses you should come to this program! A Hampton Police Department Public Safety Office will also speak on how you can help your sellers better protect themselves and their property. The latest “Techie” ways to use your smartphone for safety will be distributed. Don’t forget to stop at the store after class and pick up some Red Pepper Spray - $5.25 while they last! Call Jo at 599-5222 ext. 302 or email jo@vpar.org if you would like to attend. Register online at www.members.vpar.org. REALTOR® Enrichment Series – Back to the Basics: Prospecting & Business Development BRAND NEW COURSE! Tuesday, September 18, 2012 12:00 p.m. – 2:00 p.m. VPAR Training Room A Cost: $20 In process of course approval for 2HRS CE/PLE credit. Work your sphere smarter and do more business by referral. You have heard that before – but do you really know what that means and how you can implement it? How to get & stay organized – and stay abreast of your Buyers and Sellers. How to work those expireds and FSBO’s. REALTORS® Robert “Sully” Sullivan, The Johnny Francum & Rick Brandt Team and Roger Smith will help you get back to your business essentials with some newer twists you need to know. Register online at www.members.vpar.org or by calling Jo at 757-599-5222 ext. 302. Broker Licensing Courses 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 Sept. 10 & 19, Oct. 1 & 3 Real Estate Law Oct. 22 & 30, Nov. 9 & 15 Brokerage Nov. 20, 26, 30 & Dec. 7 Appraisal Dec. 11, 13, 18 & 19 Cram Course – date TBD 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. Mark Your Calendars Now for Upcoming August Courses & Events September 11, 2012 – 8 HR. Required CE Course September 13 2012 – Lunch & Learn – REALTOR® Safety Course September 14 2012 – Residential Standard Agency Course – New License Requirement! September 17, 2012 – VPAR Football Social at Buffalo Wild Wings September 21, 2012 – SFR Certification Course (Short Sales & Foreclosure) Online Education through VPAR ! Are you lacking just an hour to complete your continuing education? Does your schedule prohibit you from attending classroom courses for license renewal? VPAR offers online education thru The CE Shop to suit your needs! You can complete it online at your convenience at a very reasonable rate. For more information on taking an online course through VPAR, log on to www.vpar.org and look for the online education ICON today! VPAR Golf Classic – Taking your foursome registrations and sponsorships NOW! Join us on Monday, October 8th at the James River Country Club for a great day of golf, food & beverages, games & goodies! THE Golf Classic you look forward to with awesome raffle and player contest prizes! Already signing up teams - $110 per golfer and includes EVERYTHING you want. Find the forms online or email Jo Daly, jo@vpar.org. Sponsorships still available – don’t miss out on this fun networking opportunity!

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VAR prefers to work through the legislative process, which we find inclusive and more predictable, as opposed to leaving important issues to the court system. We feel we have more influence and positive opportunities working through the General Assembly. The amendment is moving quickly and will most likely pass this November, and VAR will not formally oppose it. We believe it will be supported by an overwhelming majority of voters, and while we do take principled stands, we prefer to pick our fights and expend political capital — and our members’ resources — on debates we have a chance of winning. Still, we believe the constitutional amendment is NOT necessary for the Commonwealth, where the existing system and laws are sufficient to protect the rights of property owners from the government. Here’s the full text of the proposed amendment: “That the General Assembly shall pass no law whereby private property, the right to which is fundamental, shall be damaged or taken except for public use. No private property shall be damaged or taken for public use without just compensation to the owner thereof. No more private property may be taken than necessary to achieve the stated public use. Just compensation shall be no less than the value of the property taken, lost profits and lost access, and damages to the residue caused by the taking. The term ‘lost profits’ and ‘lost access’ are to be defined by the General Assembly. A public service company, public service corporation, or railroad exercises the power of eminent domain for public use when such exercise is for the authorized provision of utility, common carrier, or railroad services. In all other cases, a taking or damaging of private property is not for public use if the primary use is for private gain, private benefit, private enterprise, increasing jobs, increasing tax revenue, or economic development, except for the elimination of a public nuisance existing on the property. The condemnor bears the burden of proving that the use is public, without a presumption that it is.”

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