Since this past summer, Suburban West has issued monthly Residential Market Reports that have featured quick analysis of single family home sales in a three county foot print of the Association (Chester, Delaware and Montgomery). While these reports have been well received, the organization has received requests to broaden their scope. And now we have.

Suburban West, in conjunction with TREND, is pleased to announce that Residential Market Reports are now available for 38 local school districts. Using the same concept, easy-to-read dashboard format, single family home sales and trends are now being tracked for:

• all 12 school districts in Chester County 
• all 15 school districts in Delaware County 
• 8 select districts in Montgomery County (including Lower Merion and 7 others that border the SWRA market area)
• 2 select districts in Berks County 
• and Philadelphia 

In addition to the district reports, we are still producing county reports for Chester, Delaware, Montgomery, Philadelphia and Berks. Suburban West hopes you find these reports beneficial for your business and that you will consider using them directly with your clients. 

The Suburban West REALTORS Association will be closed on Monday, February 18 in observance of President's Day. The office will reopen on Tuesday, February 19 at 8:00am. Please take note of this closure as you consider any business you may have with the Association. And remember that you can always visit the Association's virtual office at www.suburbanwestrealtors.com.


Career Growth Advisor Program Accepting Applications

Have you ever considered taking a class or seminar but hesitated because you weren't sure the time or money would be a good investment for you? Have you been overwhelmed by the choices of free and fee-based opportunities; which ones will best further your career?

The Association is pleased to announce a new program designed to help take the guesswork out of choosing the best seminars and classes to meet an individual's career goals. The Career Growth Advisor (CGA) Program is not a mentoring program. Participants will be expected to have pre-determined goals before being accepted. The advisor will help the participant find learning opportunities that will advance the participant's pre-stated goals. Advisors will be vetted and well versed on both free and fee-based learning opportunities.

The CGA program was developed by a task force of SWRA brokers. These members recognized that the wealth of opportunities for learning is often overwhelming both in scope and cost. Sometimes a student would like to know more about a program before investing in it. A goal of the program is to help participants identify the learning opportunities that provide the best resource towards their goals without stressing the individual's time and money budget.

The CGA program currently is accepting applications for participants and advisors. If you are interested or would like more information contact Paula Tansey.

Short sale transactions continue to confound even the most experienced practitioners. Join speaker Bill Garrett, short sale specialist and paralegal with Ward & Taylor LLC, for our upcoming REALTOR/Lawyer Seminar Series: Short Sale Basics - From Definitions to Disclosures on Thursday, March 7.

Bill will review basic questions and a variety of topics including; disclosure of a short sale, multiple loan payoffs and repairs. 1 hour of PA Continuing Legal Credit is available upon payment of appropriate fee. This seminar is generously sponsored by Tom Toner, HouseMaster Home Inspections.

A recent case in Massachusetts suggests that, yes, an email exchange may be sufficient to enforce a claim by one or the other party. This case was settled out of court so it was never ruled on by a judge but according to the article "by opening the door for the court to look at the issue, the judge was effectively saying an email exchange could very well prove to be binding". The article goes on to suggest possible protections in similar situations. Be sure to check with your broker and legal counsel before establishing your own course of action.

 

 

Professionalism Tip: Avoid the Top 10 Listing Violations   

 

According to a recent article in TrendLink, "2012's most common listing violations point to areas where more caution and attention to details will boost the efficiency and professionalism..." These violations are often mistakes that can be easily corrected by taking care and caution when entering information and having good processes in place to follow up when status' and other information changes. Accurate communication is a basic tenet of the Code of Ethics, license law and MLS rules and regulations because of its impact on relationships and to getting the job done - selling houses.  

 

As REALTOR members of TREND you can help by reporting inaccuracies in one of four ways (1) using the "accuracy link" (it is the bull's eye logo on TREND) (2) reporting the issue to the TREND helpdesk at 877-330-9900 (3) using the Association Ombudsman Program or (4) contact your fellow REALTOR directly.   

This article has been provided by Suburban REALTORS Alliance's News Briefs

 
Gov. Tom Corbett announced his proposed 2013-2014 $28.4 billion General Fund budget. Two issues addressed in Corbett's overall budget outline directly relates to real estate. They include the creation of Like-Kind Exchanges, similar to the federal 1031, and closing the 89/11 loophole.

PAR President Bette McTamney said, "The proposed tax reforms move the Commonwealth in a positive direction toward creating more jobs and stimulating economic development. These proposed changes help to improve Pennsylvania's job climate and push our economy in a positive direction." PAR supports the governor's proposal to provide for Like-Kind Exchanges. The governor's proposal would align PA with federal rules allowing for Like-Kind Exchanges of property without facing a negative tax consequence. The Department of Revenue believes the fiscal impact is zero in the first three years and a loss of $66 million in taxes the following two years. The proposed plan also eliminates the 89/11 Realty Transfer Tax loophole. To read the complete 2013-14 Budget in Brief, visit budget.state.pa.us.

To stay on top of all the local issues that could impact your business, real estate investment or community, sign up for the Suburban REALTORS Alliance New Briefs. If you have questions or comments for the Suburban REALTORS Alliance please call 610-981-9000.