vpar november realtor update

REALTOR® UpdateNovember 2012

Published by the Virginia Peninsula Association of REALTORS®

VPAR Charitable Foundation Drive

The VPAR Charitable Foundation (VPARCF) is asking for your fi nancial support and assistance. VPARCF is a non-profi t organization that is dedi-cated to improving the quality of life for those in need by supporting local or-ganization that provides housing related assistance for the Greater Virginia Peninsula residents. VPARCF pools its resources to support organizations that provide necessary and valuable services to our community.

There are many in our communities that are struggling in these very diffi cult economic times and without adequate funding, many community organiza-tions will become over taxed by the number of the people in need. Over the years, VPARCF has depended on the support of kind-hearted individuals like the VPAR members, who donate generously to the Charitable Foun-dation. VPARCF is appealing to your generous spirit to help us help our communities. VPARCF wants to assure you that your money will never be diverted to other channels.

Please, make checks payable to VPARCF and contribute $20, $40, $60 or any other amount you desire and send it back to VPARCF at 1001 North Campus Parkway, Hampton, VA 23666. Thank you for your continued sup-port of the VPARCF.

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Diamond SponsorsAtlantic Bay Mortgage - (757) 874-6040

SunTrust Mortgage - Newport News & Hampton(757) 873-7920 or (757) 896-4982

Platinum SponsorsReal Estate Information Network (REIN) - 757-531-7900

Gold SponsorsNational Exterminating Co. Inc - 757-599-3621

PNC Mortgage - 757-599-6882Towne Bank Mortgage - 757-687-5005

Silver SponsorsCommonwealth Exterminating Co. - 757-873-2030

Fulton Mortgage Co - 757-223-4330Jones, Blechman, Woltz & Kelly - 757-873-8000

Prime Lending - 757-344-3366Shaheen Law Firm - 757-369-2831

Bronze Sponsors2-10 Home Buyers Warranty - 757-572-8782

Cox Communications - 757-222-8394Union Mortgage Group - 757-870-1266

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

continued support in 2012!

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 [email protected].

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Advertising PolicyWhile this magazine makes reasonable effort to establish the integrity of its advertisers, it does not endorse advertised products or

services unless specifi cally 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 fi rms, affi liate 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 PolicyVPAR is pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity. The Association encourages and

supports an affi rmative 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.

NoticeVPAR does not fi x, control, recommend, suggest, or maintain commission rates or fees for services rendered by cooperating

members or non-members.

EditorDana R. Holben, RCE, e-PRO

REALTOR® Update is published monthly by the Virginia Peninsula Association of REALTORS® as a service to its membership. Corre-spondence 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 [email protected].

REALTOR® UpdateThe Offi cial Publication of the

Virginia Peninsula Association of REALTORS®

Offi cers

PresidentSheila Dann, ABR, GRI, SFR

President-ElectPamela McKinney Lewis, ABR, SFR

TreasurerSharon Snyder-Bartels

Immediate Past PresidentDale 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 Offi cer - Dana R. Holben, RCE, e-PRO

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Our October General Membership Breakfast featured Mayor Ward, Mayor Price and Mayor Hunt and Chairman Tom Sheppard. They shared information from their locality to help us commu-nicate with and educate our clients regarding transpor-tation, military, housing and commercial issues.

Our VPAR Charitable Foundation needs your help. In a few days you will receive a notice to contribute. Please DO! Our Charitable Founda-tion works hard to assist those less fortunate.

Thank you to VPAR staff, Board of Directors, Charitable Foundation, Past Presidents, Affi li-ates, Committee Chairs and Vice Chairs, Com-mittee members who gave so much of their time and talents this past year.

President’s Messageby Sheila Dann, 2012 VPAR President

Chairs, Committee members who gave so much of their time and talents this past year. It has been an honor and privilege to serve as your President in 2012. We have the most dedicated, knowledgeable and hard working members in the country.Here’s a reason to be proud of what you do; our industry is leading the way to economic recov-ery. The future of VPAR is bright and I am look-ing forward to serving with President Lewis and the 2013 Board of Directors.

HEY, get started on your 2013 goals and busi-ness plan!!!!Congratulations to our newly elected Board Members:Pamela McKinney Lewis - PresidentKimi Dornan - President ElectChandra Patterson - TreasurerDewey Hutchins - DirectorChris Pray - DirectorDiana Rondinelli - Director


Legal Corner Brian Lytle, Lytle Law

TRUST MEIn keeping with our Sellers of a Different Kind theme in a prior article (Estates), today we will discuss an agent’s responsibilities when the listed property is owned by a trust, most com-monly by a revocable living trust.A trust, in our context, is a written agreement whereby a person’s property is managed and distributed during his or her lifetime and death pursuant to the terms of the trust agreement. A trust involves three people, the settlor, the trustee, and the benefi ciary:• The settlor, also called the grantor or trustor, is the person who creates the trust and is usually the person who provides funding for it (i.e. contributes the property and money).• The trustee is the person who holds title to the trust property and manages it according to the terms of the written trust agreement.• The benefi ciary is the person or entity that will receive the income or principle from the trust, that is, who “benefi ts” from it.Please note that these three positions may well be one in the same person, and there can be more than one of each – co-trustees, for ex-ample.A trust is termed and classifi ed as a “living” trust when it is established during the settlor’s life-time, and it is termed and classifi ed as “revo-cable” when the settlor has reserved the right to amend or revoke the trust during his or her lifetime.Typically, when an individual or couple estab-lishes a revocable living trust for estate planning purposes, real estate is transferred from the individual or couple to their trust. Specifi cally, the trustee will hold title to the property under the terms of the trust agreement. For example, the deed might read “from Brian D. Lytle to Brian D. Lytle, Trustee of the Lytle Family Trust dated October 31, 2012.”So, how do you know whether your seller’s property is held in trust? You might see it in the tax records, but as always you should ask your seller how title is held because you’re under an obligation to obtain the written authorization of all of the owners to the property.

And if anyone should know it would be them, right?

Maybe not, so I recommend that listing agents always obtain a copy of the most current deed to the property. How do you get that? Ask your client for a copy! If they do not have a copy, then you can learn how to get it from the clerk’s offi ce yourself, or make arrangements and have your settlement agent obtain one for you. Your listing should always have the signature of each and every person on that source deed (unless someone has died, which generates sellers of a different kind in its own right).

When ownership of your prospective listing is in a revocable living trust, then the trustees are your clients and they will sign in that capacity. For example, your client might be “Brian D. Lytle, Trustee of the Lytle Family Trust dated October 31, 2012, as amended.” There are variations on the theme – again, the source deed will tell you exactly. I know there isn’t much room in Zip and True Forms and the like, so I think it is okay, in that instance, to have your party designated as, and have them sign in, the short form “Brian D. Lytle, Trustee.”

Under current law a trustee is obligated to furnish relevant snippets of the trust in order to prove that the trustee has the power and authority to sell under the terms of the trust, so be prepared for that request (many request the whole trust – ask your client if they care, and if they do care then you might need a lawyer to educate the buyer’s settlement agent regarding snippets). Quite often the buyer’s settlement agent will require what is known as a “certifi -cate of trust” to ensure that the trust is valid, not amended, trustees haven’t changed, etc. so be prepared for that request (typically the client’s trust and estate lawyer prepares that certifi cate, but I and others do them for non-estate planning clients). Occasionally there will be language in the deed that solves this problem.

Trust me, it’s not that hard when your client owns the property in a trust, but as always, do not hesitate to email me [email protected] if you have any questions about your deal or this or future articles.


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:

Mychelle Foster – ERA Real Estate ProfessionalMarvin Collins – Keller Williams Realty NN/Pen

Jeremy Obenchain – Keller Williams Realty NN/Pen

Members on the Move - Transfers

TRANSFERSJeanette Canady to Hogge Real EstateCynthia Counahan to Coldwell Banker ProfDebra Daniels to Abbitt RealtyKenneth Fisher to Prudential Towne RealtyJames Freeze to Long & Foster Real EstateWanda Sellers to Long & Foster Real Estate

New Affiliate Members

Chase Mortgage Banking

Member News

No REALTOR7 Update November 2009 - page 12 NoREALTOR7 Update

Want to be an R-Man?

Would you like to be the first to participate in NAR’s newest way to keep you informed of

breaking news? Sign up for the REALTOR® Mo-bile Action Network (we like to call it R-MAN), and you’ll receive text messages right on your mobile phone with instant and important information. We’ll also use R-MAN to communicate with you when we need your help. It’s not a Call for Action (CFA), but rather a quick and easy way to alert you to an im-pending CFA or to connect you with your Member of Congress for an instant call to relay vital REAL-TOR® information. Visit http://www.realtoraction-center.com/realtor-party/realtor-mobile-action.html for more details and to subscribe to this service!

Rangel, Pelosi Comment about Tax Credit Ex-tension - At a press conference on October 8,

House Speaker Pelosi (D-CA) responded favorably when asked about the likelihood of extending the first-time homebuyer tax credit. When asked about the possibility of further housing legislation, she re-sponded “Yes, there is under consideration whether we extend the first time homeowners credit. And the question is, would that be just first time homeown-ers or would you open it up to other purchasers of homes?” She shed no further light on whether the credit would be expanded, but did note that the cost of an expansion would be the major consideration in the decision process.

When asked for comment, Bloomberg Wire Ser-vices reports that Chairman Rangel (D-NY)

said, “There’s no question that I think it should be extended; for how long, we should discuss.” As yet, no formal action has been announced.

House Extends Credit for Military, Intelligence and Diplomatic Personnel - The House has

voted 416 - 0 to extend through 2010 the benefits

the first-time homebuyer tax credit to military, intelli-gence and diplomatic personnel. To be eligible, pin 2009. The measure (H.R. 3590) now goes to the Senate. Timing and process for its consideration of are unknown.

IVPI Interim Complaint Process Available in No-vember 2009 - The Independent Valuation Pro-

tection Institute (IVPI) was announced as an inte-gral part of the Home Valuation Code of Conduct (HVCC). The purpose of the IVPI is to receive complaints from appraisers and users of appraisal services on the improper influence or attempted im-proper influence of appraisers. The IVPI has not yet been established but an interim web site is currently under development.

Fannie Mae and Freddie Mac announced a complaint form that will appear on the interim

Independent Valuation Protection Institute (IVPI) Complaint Web site. The complaint form is for dem-onstration purposes only and is not available for fil-ing a complaint until the Web site is publicly avail-able in November 2009. The Web site, http://www.ivpicomplaint.org, will collect complaints from any party about non-compliance with the HVCC or at-tempted improper influencing of appraisers or the appraisal process.

FHA May Further Delay Implementation of New Condominium Rules - The new condominium

approval process under Mortgagee Letter 2009-19 was to be effective for all case numbers assigned on or after October 1, 2009. While the new effec-tive date is for case numbers assigned on or after November 2, 2009, NAR understands that the new effective date may be delayed even further. The site condo and manufactured housing condo project changes that have already taken effect are not af-fected by this delay. However, all other rules of the condominium program remain in effect. For exam-ple, lenders are permitted to offer spot loans until the new condominium rules go into effect.

Governmental Affairs Update Continued!

Contributions are not deductivle for Federal income tax purposes. RPAC contributions are voluntary and used for political purposes. The amount suggested is merely a guideline and you may contribute more or less than the suggested amount. You may refuse to contribute without reprisal or otherwise affecting your membership rights. Seventy percent of your contribution goes to your State Association to support state and local political candidates. Thirty percent is sent to National RPAC to support Federal candidates against your limits under 2 U.S.C. 441a; after the state PAC reaches it RPAC goal, it may elect to retain your entire contribution for use in supporting state and local candidates.


(As of July 31, 2012)

STERLING “R” ($1000 - $2500)Joseph CarneyDale ChandlerSheila DannLynn GrimsleyDana HolbenSandra Wagner

PRESIDENT’S CLUB ($750 - $999)

GOVERNOR’S CLUB ($500 - $749)Karen Bohlke EnriquezRuby ConnPamela McKinney LewisBarbara Wolcott

CAPITOL INSIDER ($250 - $499)Keith CantyJohn HodgesDana HolbenEugenia JacksonBrian LytleDonna MoyerChandra PattersonValerie SmootPam Strahorn-RoeRobert SullivanTeresa Sullivan

99 CLUB ($99 - $249)Martha AndersRick BrandtRobert BurchDorothy BurchCarl BurtLou CallLori Carlson

Jan CarpiniVicky CarterKatey ChapmanRobert ChapmanJulie CristJo DalyCarol DavanayScott DavisVallee DeLongHubert DickensKimbel DornanDon DutyJohnny FrancumCaye GarrettGreg GarrettMichael GleasonSandra HoodSharon HowardDewey HutchinsRichard HydeMary IshamYvonne JohnsonDiedre KarlssonLynn KirkPatricia LantzBarbara LassleyDavid LotzMelody MatthewsJon MaySteven MillerSusan MiltonElizabeth MooreHarmony MungerBarry NachmanHelen NachmanCory NewellDeanna NewinghamKaren PenningtonPerry PilgrimAdrienne PittingerPatricia Richardson

2012 RPAC Contributors

2012 Goal: $19,200 ~ Total Raised$27,454Katherine RidleyRegina ScottStephenie ShanksPatsy SheppardSharon Snyder BartelsMarion SparksCowles SpencerThomas SullivanLynn TeravainenPeggy ToddFrancoise VelandAmanda WalshJeri WalterDaniel WhiteSandy WhiteSamuel WhiteDavid WhitleySylvia WoodsDorothy Wright

Contributing Member($25 - $98)Marvin Adams, JrShearl AdkinsKeith AndrewsVicki AndrewsFred AnthesBill AtchisonTessie BakerLeigh BarefootJames BarrIngrid BayneJohn BeaversMary BeehnerErika BeltGina BlackKimberly BoykinThomas BoykinVicki BrosamWilliam BrownChristen Campbell


Contributing Member($25 - $98)Carla CarneyTeresa ClineAndrew CohenFrank CotrupiFrances CottenVincent CowlingDebra DanielsElizabeth DavisLinda DavisSondra DeiblerMark DellaPostaAngela DeLongDale DishmanPamela DishmanStephanie DouglasPamela DunnMark EdwardsBenjamin ElefanteTheresa EmblerElaine EndicottRandi EntwistleBarbara EstepTracy Etheridge-BrownJasmine FeliuJacqueline FindlayBrenda FisherHarold ForingerKatharina Formy DuvalMichael FosterDonita FrantzPaul GarmanJames GoodrichRoger GrimmettKay GrizzardShirley HammondEleanor HammondsSharon HareDeborah HauseKyle HauseJoy HayesAlex HazelwoodKathleen HazelwoodBruce HeathDonna HeilmanWilliam HeintzeMichelle HelmsderferDebbie HenryDwain HensonElizabeth HinsonElizabeth HippsMomo HlaingKimberly HockadayCorinne HollandJake Hughes

Candace HuntCheryl HuotteBrenda HurstPete HurstJanice IrwinRuby JamesJulenn KeelingBarbara KerwinKen KerwinLeslie KirbyDoreen KnowlesMargaret LassiterPaula LatimerKym LawsonPatricia LawsonNina LehouillierJoanne LeroySheree LesterAlexander LinDenise indnerKim LoftinGilbert LordMichae LovelandVirginia LyethBarbara Lytle-SmithKathlee MacklinHeide MahrJame MajkaShoshana MarzianoRenea MatterDaniel MatterJohn MatthewsPatrick MauldRobin McAuthurKathy McCormackDorothy McKelvinJanis McPheterMary MillsHerbert MorewitzDeloris MorganLance MusserMonica MyersSusan NachmanJohn NaudziunasCarol NeffJoyce NetherlandCheri NiceLila NicollsBen OlechnowskiDeborah ParkerDon PegramJames PerryDan PetersMichelle PollockChristine PrayComie Lee Prevette

Katrina PulliamBarbara RandallMary RebholzDeana RennDarrlyn ReynoldsTu RitterMichelle RobertsonDiana RondinelliVictor RondinelliSteven RoweLisa SadrackSylvia SaundersRonald ScheueringJohn SchrieberLinda SeldenRobert ShermanJohn ShirkNancy SimmonsRalph SmartKimber SmithCarol SobieskiDorothy SoterMichael SpellmanCharlene StanawaySarah StedfastValerie StevensKathryn StokesJoseph StoverMelvin StreetsPatricia Swan WalkerRaquel TasilloAmy ThorstadDavid TortoliniRay UprightDennis ValianosLeonel VasquezDebora VolkSandra von SchillingTheresa WackowskiMildred WalkerRex WalkerPatricia WallaceAndrea WallisBaylee WangDeborah WarrenRick WestBrooke WestonVicki WestonKaren WhiteCristina WilliamsVirginia WilsonSusan WolfJeannie WoolJane Worley


I read a lot of information from various sources and NAR has much of the information, I need. Here is an article from REALTOR®.com that I found very interesting. And with 2013 right around the corner, this is a great article to help “Revitalize and Thrive” in 2013!

The 5 New Must-Have Real Estate Marketing SkillsDoesn’t it always come down to time?When we talk to real estate professionals about what’s holding them back, we hear over and over: time. When the marketing engine isn’t quite humming – time. When past clients aren’t becoming future clients – time.This is a business built on personal contact, and the better you are at consistently showing knowledge and authenticity, the stronger your business results. But how we stay in touch is changing, and so is marketing in our industry. The challenge for many of us today is focusing on the fundamental skills we need to drive real business.Here are the 5 must-have marketing skills that you need to keep top of mind to build a high producing sales machine.1. Good ContentTo generate new listings and new sales, you need to attract new clients. That means content. This could be posts on your website, videos, even tweets – whatever forum you choose, effective lead generation hap-pens when you give something of value. In today’s industry, you need to be a publisher and author. What to write? You’ve got lots of choice: market commentary, selling strategies, information about staging a home, neighborhood events. Great content builds trust, draws people to your site and also makes it easier for you to stay top of mind with past clients.2. Focus on What Gets You to ClosingsDespite everything you’ve got on your plate, you’ve got to live and breathe your sales funnel. That means understanding how much of your business comes from referrals, how much from new business, how long it might take for a lead to turn into a contact or client, and how you can grow each of those cate-gories. Do you know, at this moment, how many of your leads turned into listings or sales last year? What about the source of each of your closings? The only way you can impact leads, opportunities and closings is if you are constantly reviewing the source of business.3. Referrals and RecommendationsAre you tired of hearing about Facebook? I don’t blame you. Few of us will become social media gurus, but that’s not really the goal. Facebook and other social media are a key part of establishing your personal brand, and they can be exceptionally powerful tools for collecting and sharing recommendations. Since referrals and recommendations are the largest source of new business, look for ways to streamline (and systematize) the process.4. MeasurementIf you aren’t measuring, you’re not marketing. Not all metrics are about sales: you can track visits, men-tions, ad spend. The key is to develop a reporting habit and to create a set of measurements that make sense for you.5. TechnologyTechnology isn’t going away, but it is getting friendlier. It’s time to embrace solutions that can actually make your life easier, and maybe even inject a little fun into the process. Look for solutions that are tai-lored to our industry, quick to set up, and allow you to gain more of that important asset: time.

Off my Desk…. CEO Report

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Governmental Affairs Updateby Susan Gaston, Governmental Affairs Consultant


LOCAL

HamptonVPAR sends it con-gratulations to City Manager Mary Bunting for her recent award as a White House “In-novative Champion of Change.” Bunting is one of 13 local government offi cials honored for “cre-ating a more open and innovative government through entrepreneur-ship.” This awards pro-gram recognizes innova-tors in various sectors of the economy. Award recipients worked to build a better future for their citizens, create jobs in their community, and ensure more effi cient and effective government by making information and public data more ac-cessible, the White House said. Your association works closely with the Manager and her staff, who openly work towards improved communica-tion and collaboration on many issues important to the industry.

PoquosonThe Poquoson City Council is seeking appli-cants to serve on the City’s Boards and Com-missions. Appointments that will be con-sidered during the next year will be for the Library Advisory Board, School Board, Archi-tectural Review Board, Economic Development Authority and Parks and Recreation Advisory Board. If interested please complete and mail to the City Manager’s offi ce a Board Bank applica-tion which can be obtained on-line on the City’s web site or by calling the City Manager’s offi ce at 868-3000. And let your legislative consultant know of your interest so that VPAR can assist you with your application!

YorkCountyMore work continues on the County’s Compre-hensive Plan, with current focus turning to mixed use projects and the opportunity to develop more commercial projects that would include housing components.

REGIONALOn October 16th, at the Association’s General Membership Meeting, VPAR welcomed Mayor Molly Ward (Hampton), Mayor McKinley Price (Newport News), Mayor Gene Hunt (Poquo-son) and Chairman of the York County Board of Supervisors Tom Sheppard for a terrifi c panel discussion that covered a variety of issues. The Langley/Eustis Clear Zone, seques-tration, regionalism, transportation and economic outlooks all were discussed as regional issues. Specifi c to each locality, topics of discussion ranged from local road improvements to work-force housing to high housing end and mixed-use developments to fl ooding and Fort Monroe’s fu-ture. The event was well attended and very par-ticipatory with attendees asking great questions that impact all area residents. Look for additional events of this nature in the near future!

VPAR, continuing its long support of the pres-ervation of Langley Air Force Base, now Joint Command Langley/Ft. Eustis, has aligned ef-forts with the Virginia Peninsula Chamber of Commerce (VPCC) and the Cities of Hampton, Newport News and Poquoson as well as with York County to seek inclusion in the Gover-nor’s 2013 budget to purchase land surround-ing the base in efforts to protect those lands from encroachment. Encroachment issues have become BRAC targets in recent years, and it is critical that the business community work cooper-atively with the City to protect the enormous eco-nomic engine that is LAFB/Eustis. With details of the budget being formulated now, timing is critical to seek support for those preservation dollars.

WE ASK ALL VPAR MEMBERS TO WEIGH IN ON THIS CIRITCAL MATTER! CONTACT GOV-ERNOR McDONNELL TODAY BY GOING TO:http://www.votervoice.net/link/target/vpcc/g7J45GG7.aspx .

ELECTIONSNAR RPAC announced last month its en-dorsements of the following area members of Congress:

Representative Randy Forbes (R-4th)Representative Scott Rigell (R-2nd)

Governmental Affairs Updateby Susan Gaston, Governmental Affairs Consultant

On October 16th, at the Association’s General Membership Meeting, VPAR welcomed Mayor Molly Ward (Hampton), Mayor McKinley Price (Newport News), Mayor Gene Hunt (Poquo-son) and Chairman of the York County Board of Supervisors Tom Sheppard for a terrifi c panel discussion that covered a variety of issues.tration, regionalism, transportation and economic outlooks all were discussed as regional issues. Specifi c to each locality, topics of discussion ranged from local road improvements to work-force housing to high housing end and mixed-use developments to fl ooding and Fort Monroe’s fu-ture. The event was well attended and very par-ticipatory with attendees asking great questions

No No REALTOR7 Update November 2009 - page 17REALTOR7 Update

Want to be an R-Man?

Would you like to be the first to participate in NAR’s newest way to keep you informed of

breaking news? Sign up for the REALTOR® Mo-bile Action Network (we like to call it R-MAN), and you’ll receive text messages right on your mobile phone with instant and important information. We’ll also use R-MAN to communicate with you when we need your help. It’s not a Call for Action (CFA), but rather a quick and easy way to alert you to an im-pending CFA or to connect you with your Member of Congress for an instant call to relay vital REAL-TOR® information. Visit http://www.realtoraction-center.com/realtor-party/realtor-mobile-action.html for more details and to subscribe to this service!

Rangel, Pelosi Comment about Tax Credit Ex-tension - At a press conference on October 8,

House Speaker Pelosi (D-CA) responded favorably when asked about the likelihood of extending the first-time homebuyer tax credit. When asked about the possibility of further housing legislation, she re-sponded “Yes, there is under consideration whether we extend the first time homeowners credit. And the question is, would that be just first time homeown-ers or would you open it up to other purchasers of homes?” She shed no further light on whether the credit would be expanded, but did note that the cost of an expansion would be the major consideration in the decision process.

When asked for comment, Bloomberg Wire Ser-vices reports that Chairman Rangel (D-NY)

said, “There’s no question that I think it should be extended; for how long, we should discuss.” As yet, no formal action has been announced.

House Extends Credit for Military, Intelligence and Diplomatic Personnel - The House has

voted 416 - 0 to extend through 2010 the benefits

the first-time homebuyer tax credit to military, intelli-gence and diplomatic personnel. To be eligible, pin 2009. The measure (H.R. 3590) now goes to the Senate. Timing and process for its consideration of are unknown.

IVPI Interim Complaint Process Available in No-vember 2009 - The Independent Valuation Pro-

tection Institute (IVPI) was announced as an inte-gral part of the Home Valuation Code of Conduct (HVCC). The purpose of the IVPI is to receive complaints from appraisers and users of appraisal services on the improper influence or attempted im-proper influence of appraisers. The IVPI has not yet been established but an interim web site is currently under development.

Fannie Mae and Freddie Mac announced a complaint form that will appear on the interim

Independent Valuation Protection Institute (IVPI) Complaint Web site. The complaint form is for dem-onstration purposes only and is not available for fil-ing a complaint until the Web site is publicly avail-able in November 2009. The Web site, http://www.ivpicomplaint.org, will collect complaints from any party about non-compliance with the HVCC or at-tempted improper influencing of appraisers or the appraisal process.

FHA May Further Delay Implementation of New Condominium Rules - The new condominium

approval process under Mortgagee Letter 2009-19 was to be effective for all case numbers assigned on or after October 1, 2009. While the new effec-tive date is for case numbers assigned on or after November 2, 2009, NAR understands that the new effective date may be delayed even further. The site condo and manufactured housing condo project changes that have already taken effect are not af-fected by this delay. However, all other rules of the condominium program remain in effect. For exam-ple, lenders are permitted to offer spot loans until the new condominium rules go into effect.


No No REALTOR ® Update November 2012 - page 17

Representative Bobby Scott (D-3rd)Representative Rob Wittmann (R-1st)

Also, NAR announced its endorsement in Vir-ginia’s United States Senate race in the open seat left by the retirement of Sen. Jim Webb. Former Governor and Congressman George Allen has re-ceived the endorsement of the REALTOR® party!

REMEMBER TO VOTE ON NOVEMBER 6th!

STATEWork continues on the 2013 Legislative Agen-da of the Virginia Association of REALTORS®. As more details are put in place, we will advise. In the meantime, know that there are multiple issues where VPAR is taking a leadership role in crafting appropriate language to solve a number of industry matters. As many as a dozen pieces of legislation could be on the final list, which remains in development as consensus is built with stake-holders on a variety of issues. Once the agenda is in its solid form, and bill drafts are available, we will advise the membership.

MARK YOUR CALENDARS NOW for the 2013 REALTOR® DAY on the HILL event in Rich-mond! On February 6, 2013, join REALTORS® from across the state as we descend upon the General Assembly and walk to the halls to stomp for our message and legislation. Many more de-tails to come, but SAVE THE DATE!

FEDERALFANNIE MAE UPDATES ONLINE OFFER SYSTEMIn response to requests from listing brokers and the real estate professional community, Fannie Mae has made several enhancements to its REO offer process to make it easier to do business with them. These latest enhancements will allow:

• Buyer’s agents to complete the required HomePath (http://www.homepath.com) offer documentation online. When placing offers, many real estate professionals use online forms librar-ies, available through their MLS or association, to access forms such as the state or local sales contract. Fannie Mae is working with these forms libraries to include our offer documents, such as the Fannie Mae Real Estate Purchase Addendum and the Owner-Occupant Certification.

Look for Fannie Mae offer forms in the Instanet form library this month. More vendors will be com-ing soon.

• Buyer’s agents and their buyers sign offer documents using a digital or electronic signatures. (Note that Fannie Mae will continue to require handwritten signatures on closing documents.)

FUNDSFLOWINGTORURALHOUSINGSince Congress did not pass a FY2013 budget, and instead the government is working under a Con-tinuing Resolution, funding for some programs has been slow. The Rural Housing Service (RHS) has been experiencing a number of slow downs and delays in closing due to funding. But RHS has now announced that funding for FY13 is now available, so all loans should move forward.

This is a different issue than the rural housing defi-nition change. NAR continues to work to ensure that rural communities don’t lose these valuable programs. We encourage all REALTORS® to re-spond to the Call for Action to protect rural housing programs.

Tell Congress to preserve access to safe and affordable mortgages. Go to the REALTOR® Ac-tion Center today and submit your comments!

https://realtorparty.realtoractioncenter.com/site/Advocacy?pagename=homepage&page=UserAction&id=2267&AddInterest=1361

Foradditionaldetailsontheseoranyotherissue,pleasecontactVPAR’sLegislativeCon-sultant,SusanGaston,[email protected].


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VPAR Golf Classic - Soaked Troopers Stick it Out – James River Country ClubOn Monday, October 8th, 144 golfers teed off for the 22nd VPAR Golf Classic at the James River Coun-

try Club. The weather would not dampen our spirits and with a sold out crowd, we all still had a lot of fun! The day was fi nished off with a barbeque inside the country club dining room overlooking the James River. The crowd enjoyed the over 50 raffl e prize drawings. Congratulations to all the wet winners from

the day!

The success of the Golf Classic wouldn’t be possible without the generosity of the following sponsors who stood out in the rain ready to support our Golfers!


DiamondPartners

Atlantic Bay MortgageSuntrust Mortgage – Newport News & Hampton

PlatinumPartners

REIN, Inc.,

GoldPartners

National Exterminating,PNC Mortgage,Towne Bank Mortgage

SilverPartners

Commonwealth ExterminatingFulton MortgageJones, Blechman, Woltz & KellyPrime LendingShaheen Law Firm

BronzePartners

2-10 Home Buyers WarrantyCox CommunicationsUnion Mortgage Group

CartSponsors

New American MortgageSunTrust MortgageJones, Blechman, Woltz & Kelly

PhotographySponsor

Kaufman & Canoles

DrinkShedSponsor

Atlantic Bay Mortgage Group

Hole-In-OneSponsor

Prudential Towne Realty New HomesWynne Ford Volvo of Hampton

Hole-In-OneSponsor

Prudential Towne Realty New HomesWynne Ford Volvo of Hampton

GrandPrizeRaffleSponsors

Cox CommunicationsNational ExterminatingREIN, Inc.

AdditionalTee/Green/ContestSponsors

Abbitt Realty CompanyAtlantic ExterminatingCentury 21 Nachman RealtyColonial ExterminatingFidelity Bank MortgageHouseMaster Home InspectionsNationwide – Tanis Lilygren AgencyPillar to Post Home Inspections Peninsula Title CompanyPeerless Carpet Care & RestorationPro-Tech ExterminatingServePro of Hampton & Newport NewsThe Roofi ng Company – Earl Holben

A Special Thank You to those who donated prizes for the raffl e drawing!

Thank you to the members of the VPAR Golf Classic Committee for their time, dedication and hard work!

Mike Harvey, ChairRussell Skidmore, Vice-ChairDale Chandler, Director LiaisonDonna DellingerJoey HollisCathi LynchLisa SadrackTu RitterChris SeekDavid WhitleyPhyllis WhitleyChris Wilson

No No REALTOR7 Update November 2009 - page 19REALTOR7 UpdateNo No REALTOR ® Update November 2012 - page 19

Contest winners Chris Wilson of SunTrust Mortgage, his sons and

Sam White of Abbitt Realty

A little rain can’t keep Tom Smart of Re/Max Select down!

Thank you to all of our Golf Classic Sponsors!

A cold Ruth Benjaminson of 2-10 HomeBuyers Warranty was a tee

sponsor and donated the goodie bags!


8-HR Continuing Education Classes

Time for ALL Classes 8:30 a.m. - 5:00 p.m.

LocationVPAR Building

1001 North Campus Parkway Hampton, VA 23666

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: [email protected]. VPAR reserves the right to cancel a class if less than 15 people areregistered. 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.

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

8HRRequiredCEClassesInclude

∗ Code of Ethics (Meets NAR Quadrennial Requirements) & Code of Conduct

∗ Fair Housing∗ Legal Updates & Emerging Trends (Law)∗ Real Estate Contracts∗ Real Estate Agency

8 HR Elective CE Class Dates

Monday, Jan 23 Thursday, Aug 16 Tuesday, June 19 Monday, Oct 22

8HRElectiveCEClassesInclude

∗ Anti-Trust ∗ Do-Nots∗ Safety∗ Disclosures ∗ Professionalism

Peninsula Real Estate School owned and operated by


Registration Form

Name Company Address City State Zip Phone Email License # Exp. Date

Method of Payment

Check Invoice Office Visa MasterCard AMX (NEW) Discover Card (NEW)

Credit Card # Exp. Date Signature

Amount Due (check appropriate box)

VPAR Member $50 Non-Member $60

Tuesday, June 19 Thursday, Aug 16

Monday, June 11

Tuesday, July 10 Tuesday, Aug 7 Tuesday, Sept 11 Tuesday, Oct 2

No No REALTOR7 Update November 2009 - page 21

Required Standard Agency Course – November 7th – 1:00 P.M. – 4:00 P.M.NEW REQUIREMENT to renew your license that started on July 1st. As a new requirement these classes fi ll up quickly – reserve your seat! Do you REALLY understand your duties as a standard and limited service agent? Do feel confi dent that you select the most suitable brokerage relationship? Review the dual agency/designated agency issues and learn the correct disclosure forms to use in specifi c transactions. Avoid REB violations! Approved for 3 hours RSA credit. Cost is $30. Sponsored by Chase Mortgage Banking.

FREE Lunch & Learn – Public Policy 101 with Susan Gaston – November 8th 12- 1 P.M.What is VPAR’s Public Policy program and why you as a REALTOR® need to care! Learn the issues that are important to VPAR and the positions taken on each one. Election results review too! Learn how you can be-come involved! Instructed by Susan Gaston, VPAR Legislative Consultant. This course is FREE!

Broker/Management 8 Hour CE Modules – November 15th – 8:30 A.M. – 5:00 P.M.Last 8 Hour Broker CE course for 2012. Instructed by Mary Womack. Broker Continuing Education to help you get to your 24 credit hours. Module I: 8:30 – 12:30 $30 per module for members. Module II: 1:30 – 5:30 $30 per module for members.

State of the Region Forecasting Seminar by ODU’s Dr. James Koch – November 27th – 1:00 P.M. – 4:00 P.M.VPAR is so very honored to bring Dr. James Koch, Past President of ODU and Professor of Economics to speak on November 27th! Dr. Koch’s yearly “State of the Region” has grown steadily in popularity since its beginning and is a must for state opinion leaders. Now you can hear THE forecast for Hampton Roads on hot button issues such as our economic recovery; how our assets can also be our liabilities; comparing income inequality and cost of living; transportation; friction between state and local governments; housing assessment; diversifi cation and much more!! Seating is limited so register early! Cost is $20 per member and $25 non-member. This course will be submitted for 2 hour CE/PLE credit. Generously sponsored by New American Mortgage and National Exterminating!!

NAR Quadrennial Ethics Course –December 6th 8:30 A.M. – 11:30 A.M.The NAR membership requirement that must be met every four years and must be completed by December 2012. This class can be taken for free or choose to pay $20 for 3 hours Ethics & Standards of Conduct Continuing/PLE Education Credit. You can also take the class online at Realtor.org. Mark Your Calendars Now for Upcoming October Courses & EventsNovember 5, 2012 – New Member Indoctrination CourseNovember 7, 2012 – Required Standard Agency CourseNovember 8 & 9 2012 – Wreath Sales at VPAR Offi cesNovember 8, 2012 – Lunch & Learn – Public Policy 101November 13, 2012 – 8 Hour Required Continuing Education CourseNovember 15, 2012 – Broker/Manager CE Course ModulesNovember 17, 2012 – VPAR Installation & Annual Awards Banquet at Bay Breeze Conference CenterNovember 27, 2012 – State of the Region Seminar by Dr. James Koch

Online Education through VPAR !Are you lacking just an hour to complete your continuing educa-tion? 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! The C.E. Shop is also offering an NAR required Quadrennial Ethics Course online entitled Cracking The Code of Ethics.

No No REALTOR ® Update November 2012 - page 21

Education Opportunities

8-HR Continuing Education Classes

Time for ALL Classes 8:30 a.m. - 5:00 p.m.

LocationVPAR Building

1001 North Campus Parkway Hampton, VA 23666

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: [email protected]. VPAR reserves the right to cancel a class if less than 15 people areregistered. 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.

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

8HRRequiredCEClassesInclude

∗ Code of Ethics (Meets NAR Quadrennial Requirements) & Code of Conduct

∗ Fair Housing∗ Legal Updates & Emerging Trends (Law)∗ Real Estate Contracts∗ Real Estate Agency

8 HR Elective CE Class Dates

Monday, Jan 23 Thursday, Aug 16 Tuesday, June 19 Monday, Oct 22

8HRElectiveCEClassesInclude

∗ Anti-Trust ∗ Do-Nots∗ Safety∗ Disclosures ∗ Professionalism

Peninsula Real Estate School owned and operated by


Registration Form

Name Company Address City State Zip Phone Email License # Exp. Date

Method of Payment

Check Invoice Office Visa MasterCard AMX (NEW) Discover Card (NEW)

Credit Card # Exp. Date Signature

Amount Due (check appropriate box)

VPAR Member $50 Non-Member $60


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

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

Your neighborhood lender is right around the corner. We’re here to help welcome you home.

To learn more, contact SunTrust Mortgage at one of our convenient neighborhood offices!

SunTrust Mortgage — Hampton2100 Executive DriveHampton, VA 23669757.896.4982

SunTrust Mortgage — Newport News11817 Canon Boulevard, Suite 600Newport News, VA 23606757.873.7920

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Creating a home inventory for insurance doesn’t need to be complicated. All you really need is a pencil and paper. The key is to have a record of your possessions in the event you experience a theft or casualty loss from fl ood, fi re, or other disaster.But the more thorough the documentation of your belongings, the less likely you are to run into problems when you fi le an insurance claim. That’s why you should consider using a digital camera, fi reproof safes, and other equipment to create and store your home inventory. Devote a full day to the task.

Take pictures of your belongingsPhotos of your belongings go a long way toward demonstrating ownership and value. Digital photos are preferred, since they’re easier to print and store. A decent digital camera costs less than $100. Be sure to get full-room shots, as well as close-ups of items. Don’t neglect to photograph possessions inside draw-ers, cabinets, and closets.Video is even more convenient and effective, especially since you can record audio along with the im-ages. Describe items and any identifying details as you fi lm your home room by room. Digital camcord-ers are available for less than $150. It’s a good idea to keep backup copies of digital fi les and hard-copy printouts in a safe place. (More on storage options below.)

Prepare a written home inventoryImages alone aren’t enough. You should also prepare a written home inventory. Your insurance com-pany will likely ask for one if you ever fi le a claim. Include as much identifying detail as possible, such as serial numbers, brand names, purchase dates, and estimated costs. Keep a copy off-site, perhaps with a friend or in a bank safe-deposit box, in case your home is damaged or destroyed. Download our free home inventory worksheet to get started.Home inventory software is also available. Enter information on your possessions, attach digital images, and store the data electronically. The Insurance Information Institute has a free program called Know Your Stuff, or there are a number of programs available for purchase.Be sure to attach receipts to your home inventory list. If you’re storing your records electronically, you’ll want to scan receipts at a copy and print shop or purchase a scanner. Pick one up for as little as $50 at an offi ce supply store. Digital copies of receipts come in handy if originals are damaged or lost.

Safe ways to store your recordsWhen backing up digital fi les, a USB drive—sometimes called a “thumb” drive, due to its small size—can be useful. Buy one for as little as $5. Simply copy the fi les onto the drive and keep it somewhere safe, preferably away from your home.You can also stash a drive in a pre-packed emergency “go” bag, which should be accessible in case you need to evacuate quickly. An external hard drive can perform the same function, though it’s less portable.You can use a bank safe-deposit box to store paper records, drives, and other valuables off-premises. Rent may range from about $25 per year for a small box to more than $100 for a larger box.If you like to keep important documents closer at hand, consider a fi reproof safe, which is usually wa-terproof as well. You can fi nd small safes for as little as $50, but a more representative range for good residential fi reproof safes is $150 to $300. Larger, high-end safes can cost more than $1,000.When your home inventory fi les are electronic, it’s relatively easy to use online backup systems to keep digital copies outside of your home. That’s a big plus if your computer is stolen or destroyed. Some backup services like Mozy offer limited storage space for free, while others like Carbonite charge $5 or more per month. Choose a backup service whose features fi t your needs.

Compile a Home Inventory with the Right Tools

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November 7 – NEW 3HR Agency Law Required Course8 - Lunch and Learn13 – 8HR Required CE Course15 – 8HR Broker Management CE Course17 – VPAR Installation and Annual AwardsBanquet27 – REALTOR® Enrichment Series Course

December3 – Night Court4 – 8HR Required CE Course11 - Jeff Elias Finance Seminar

2012 Education and Events Calendar at a Glance

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The VPAR October General Membership meeting welcomed Hon. Eugene Hunt, Poquoson; Hon. McKinley Price, New-port News; Hon. Molly J. Ward, Hampton; and Hon. Thomas Sheppard, York County Board of Supervisors. They shared insights on housing challenges, solutions & opportunities. They also discussed timely issues regarding transportation, sequestration, redevelopment, affordable housing and potential issues at the 2013 General Assembly.

Over 50 members listened to city of-fi cials

City Offi cials – left to rightHon. Price, Hon. Ward, Hon. Sheppard and Hon. Hunt

The VPAR Banquet Committee is beginning our cam-paign to sell live fresh & fragrant Christmas Wreaths, 25 “ with velvet bow & pinecones/berries for only $20.00. What a great gift for family & clients! Chair Renea Matter of Atlantic Bay Mortgage and committee volunteers will assist November 8th & 9th from 10-2 @ VPAR to take orders! Wreaths will be in December 4th & 5th and we will distribute on the 6th & 7th. A fl yer will be e-mailed out soon, so please promote within your offi ces. Please contact Vice Chair Barbara Lassley at 595-8895 of William E. Wood or Jo Daly at VPAR at 599-5222 or email [email protected] to pay & place orders prior to November 8th and 9th.

No REALTOR ® Update November 2012 - page 30

October General Membership Meeting Welcomed City Officials

Holiday Wreath Sales at VPAR November 8th & 9th!

No

Happy Thanksgiving!Go to www.VPAR.org for the

Calendar of EventsNo

vpar november realtor update

Documents