BCAR April 2011 Newsletter

On Wednesday, April 13 at 2PM EST there will be a virtual town hall meeting with NAR Leadership on the REALTOR® Party Political Survival Initiative.

This Initiative is what the proposed $40 NAR 2012 Dues Increase will fund.

At the March BCAR Board of Directors meeting the Board unanimously voted to oppose this proposed increase.

The NAR Board of Directors will vote on the initiative on May 14 at its meeting at the end of the NAR Midyear Meetings & Trade Expo in Washington, DC. NAR President, Ron Phipps, says member input into such an important initiative is crucial. NAR leaders will take member questions during the town hall, and members of the leadership and presidential advisory group that developed the initiative will take questions for two days after the town hall. Information on submitting questions will be detailed in the town hall meeting.

REGISTER NOW for this important meeting

Wednesday, April 13 at 2PM

Virtual Town Hall Meeting

President's Message

Pete Frandano

I hope you had a good March!

This month, I wanted to talk about two topics that I feel are important to all of us: continuing education and market feedback.

Continuing Education:

Continuing Education and investment in yourself: I think you would probably agree that this is one of the best investments you can make! Along those lines, we all realize that the Right Tools Right Now program has sunset. However, there are still plenty of tools and research that have already been created for us by the National Association of REALTORS®. See the following link to the Field Guides section of NAR:

http://www.realtor.org/library/virtual_library/refshelf

In any market, and even more pronounced in a tough market like the one we are working through, is the fact that those who pursue investment in themselves through education, whether through a low cost webinar, online program or a designation program benefit in the long run over those who do not. Please keep in mind that our Association offers a variety of CE and other educational course offerings at 101 Stone Chimney Place. Any time is a great time to invest in YOU.

A Bit of Market Feedback:

I know we are all inundated with data and statistics on a daily basis and we all have our favorite sources, so I will not data dump on you. I do want to share some market insights from the regional ICSC (International Council of Shopping Centers) I attended in March in Charlotte. I attend this conference every year and many agreed that this year’s conference was the most positive the conference has been in over 4 years. Deals are starting to get done, more activity, credit appears to be loosening (slightly); people continue to be VERY optimistic about our region (NC). The conference focuses on commercial real estate with an emphasis on retail but it runs the entire spectrum including panel ...

CLICK HERE to read more!

Where Elegance Meets Versatility…

In the month of March 101 Stone Chimney Place held the following events.

The Brunswick Nuclear Plant held an event here for the first time. There were over 250 attendees here for an all day Nuclear Plant training course. The attendees came from all over the country to receive their training. The Brunswick Nuclear Plant was very pleased with the facility and will recommend 101 Stone Chimney Place for other events that they will be hosting in the future.

Brunswick County Economic Development held a Bankers Committee meeting in the board room on March 16.

The SBI Business Networking International holds is weekly meetings here on Tuesdays 7:45 am – 9:30 am. The meetings have been taking place here since August of 2010.

The Brunswick County Medical Society held another social event here on March 30. In addition to the physicians being in attendance the organization also had over a dozen service vendor representatives promoting their goods and services.

The Point West POA held its annual meeting in the education room on March 31. The POA representatives were very happy with accommodations of the education room.

The Brunswick County Association of REALTORS® held a CE Mandatory Update and Elective course on March 9. The next continuing education course will be held on May 4. BCAR also held a Lowes REALTOR® Benefits Program workshop on March 23.

Events to be held in April are the 2011 West Brunswick High School Prom, Lower Cape Fear Hospice Breakfast, GFWC Annual Fashion Show Fundraiser Luncheon, BCAR New Member Orientation, Brunswick County Chamber Blue Plate event, BCAR Strategic Planning Session, BCAR Board Meeting, and the Carolina Creations Landscapes Customer Appreciation event.

If you want to learn more about 101 Stone Chimney Place

contact Sabrena Reinhardt via Sabrena@bcarnc.com or 910.754.7050.

FREE FOOD & CE CREDIT? NO WAY! Yes way - If you take a BCAR Continuing Education class! The reason BCAR can offer a free lunch is because of our Affiliate Sponsors. Many thanks to the following Affiliates for sponsoring March's Continuing Ed taught by Mark Given:

Randy Rhodes from Rhodes Law Offices

Japan Earthquake &

Tsunami: How to Help

Everyone is continuing to monitor the events unfolding in Japan since March 11 when a 9.0 magnitude earthquake struck off the shore of northeast Japan, triggering a tsunami.

To assist in the rebuilding effort, the Asian American Real Estate Association has set up a relief fund. You can make a tax-deductible donation to AREAA Foundation Earthquake Relief Fund. Checks may be mailed to:

AREAA
5963 La Place Court, Suite 312
Carlsbad, CA 92008-8823

In addition, the Seattle-King County Association of REALTORS® (the official NAR Ambassador Association to four nationwide real estate associations in Japan) has set up The REALTORS® Environmental Council (TREC) which will support long-term relief projects. TREC accepts donations by mail and online.

Click here for more information on this topic.

APRIL IS FAIR HOUSING MONTH

April 2011 marks the 43rd anniversary of the 1968 landmark Fair Housing Act. Each year REALTORS® recognize the significance of this event and reconfirm our commitment to upholding fair housing law as well as our commitment to offering equal professional service to all in their search for real property.

Publish the REALTOR® Fair Housing Declaration and post it in your office.

Display your the 2011 Fair Housing FOCUS poster in your office and/or association.

Distribute the 2011 April Fair Housing Focus Publication

Risk Watchline

QUESTION: Paragraph 4(d) of the new version of the Offer to Purchase and Contract (form 2-T) states that the Buyer may conduct a walk-through inspection of the Property prior to Closing. Shouldn’t it read "prior to the expiration of the Due Diligence Period"? I don’t see what good it would do for the Buyer to do a walk-through after the Due Diligence Period has ended since the Buyer’s right to terminate the contract ends when the Due Diligence Period is over.

ANSWER: It is true that the Buyer’s failure to terminate the contract prior to the end of the Due Diligence Period constitutes a waiver of any right to terminate the contract based on any matter relating to Buyer’s Due Diligence (see the "Warning in paragraph 4(g)). However, according to the "Note" in paragraph 4(g), following the Due Diligence Period, the Buyer retains the right to terminate the contract for other reasons permitted under the contact. For example, the Buyer may terminate the contract under paragraph 11 if the property is not in substantially the same or better condition at Closing as on the date of the offer, and the Buyer may terminate the contract under paragraph 12 if the improvements on the property are destroyed or materially damaged prior to Closing. In order for the Buyer to determine if those conditions have been satisfied, the Buyer must be able to inspect the Property up until Closing. That is why paragraph 4(d) permits the buyer to do the walk-through prior to Closing.