Welcome to our Virtual Association Headquarters.
The Howard County Association of REALTORS® represents over 1700 REALTORS®
and we hope that you visit our web site often.
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Howard County Association of REALTORS® is proud to announce the
second of the CRS classes to be held in Howard County.
* * * Postponed Until * * *
Monday & Tuesday, March 8th & 9th
8:30 a.m. - 5:00 p.m.
HCAR event being held at: Century 21 HT Brown, Stevens Forest Rd.
Registration Fee: $275 for Members of MD/DC CRS Chapter or $325 for Non-Members of MD/DC CRS Chapter, for the two day class which will include a continental breakfast and lunch for both days.
Sign up today as space is limited.
Work towards your CRS Designation or simply learn more to advance your career,
with popular hands-on instructor Gee Dunsten, CRS.
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The Maryland Association of REALTORS®
invites you to attend...
"Rising to the Top!"
A powerful learning event you will not want to miss!
The Breakfast of Champions is a special event designed to strengthen your business and help you succeed in 2010. Come learn how to rejuvenate your business by listening to our guest speaker, Doug Smith.
Only $10 for program and breakfast.
February 17, 2010 in Annapolis
March 17, 2010 in Baltimore
April 21, 2010 in Frederick
Register today at mdrealtor.org
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The following components of the new Real Estate Settlement Procedures Act (RESPA) Rule went in effect on Friday, January 1, 2010:
- Good Faith Estimate: The new three page GFE, including disclosure of yield spread premiums and the tolerance restrictions, must be used.
- HUD-1: The new HUD-1 Settlement Statement has been expanded to three pages. It has been redesigned to look like GFE with additional cross references and a "cross-walk" chart comparing charges in the GFE with the final charges.
- 30-Day Cure Period: Loan originators will have 30 days from the date of settlement to reimburse the borrower for tolerance violations.
- Tolerance limitations on settlement charges: Certain services packaged by lenders will be granted a 10% change tolerance.
- Application Process: Lenders will have a one-stage application process with greater flexibility on selecting underwriting criteria.
The Special Information Booklet which mortgage brokers and/or lenders must give borrowers when applying for a mortgage loan has also been updated. This booklet contains consumer information regarding various real estate settlement services, and is required for purchase transactions only.
For more information, please see HUD's website or contact the MAR Legal Affairs Department at 1-800-638-6425.
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Howard County Association of REALTORS® Awarded
2009 MAR Community Action and REALTOR® Excellence
2nd Honorable Mention
2009 President Mary Calder accepted the CARE 2 nd Honorable Mention Award at the Maryland Association of REALTORS ® Annual Conference, honoring the work that the HCAR Association and members do on behalf of the community. With the CARE award comes $1,000. HCAR is donating the $1,000 to the Willis McGahee Foundation. Thank you to everyone who contributes their time and money, and who submitted photographs and details of their volunteer work for the CARE award!
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Kudos to HCAR leadership and the HCAR YPN Chapter
for a very successful RPAC event.
Highlights included CE by MAR's Colette Massengale, Esq., a trade show, and a presentation by Kathy Connelly - Executive Director for the Maryland Real Estate Commission. Other presenters included Ilene Kessler, Mark Feinroth (MAR), Bill Castelli (MAR), Jamie Gregory (NAR) and Gloria Farrar, networking opportunities, a live auction, and a reception.
The well attended day raised over $10,000.
Congratulations! What a great job.
Gloria M. Farrar
MAR RPAC Fundraising Chair
Click here to view the event photos >>
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On November 5, Congress answered our call to extend and expand the homebuyer tax credit. Both the House and the Senate passed an unemployment insurance bill, which included an amendment to expand and extend the tax credit. The bill was then signed by President Obama.
Some new benefits under the Extended Home Buyer Tax Credit, which took effect Saturday, November 7:
- Single buyers with incomes up to $125,000 and married couples with incomes up to $225,000 may receive the maximum tax credit (income limits are increased from the 2009 First-Time Home Buyer Tax Credit limits).
- Current home owners who buy homes can now also apply, for a maximum credit of $6,500.
- NAR Issue Brief Homebuyer Tax Credit Comparison Chart >>
If you or your client purchased a home between January 1, 2009 and November 6, 2009, please visit 2009 First-Time Home Buyer Tax Credit at Realtor.org for new homebuyer tax credit details. For those purchasing between November 7, 2009 and April 10, 2010, please visit The Basics: Extended Home Buyer Tax Credit 2009/2010 at Realtor.org. These helpful resources and the comparison chart can be used when working with buyers to take advantage of the credit in the months ahead.
Thank you for responding to the Tax Credit Calls for Action.
Once again, a victory for homeownership was achieved
because so many took action.
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C O N G R A T U L A T I O N S !
| REALTOR® of the Year |
Kenny Smallwood |
| Rookie of the Year |
Shannon Miller |
| Community Service |
Creig Northrop |
Thank you for being role models in service and your
commitment to excellence, Kenny, Shannon and Creig!
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How to Reduce Your Risk of an IRS Audit
As a self-employed person, you are three times more likely than an employee who receives a
W-2 form to be audited by the Internal Revenue Service.
Full Article >>
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