REALTOR® Hotsheet
 Volume 14, Number 4 ◊ February 20, 2009

Please note: Many links in this newsletter are accessible to registered users of www.ctrealtor.com only.
Click here to register or obtain your username and password.

 

Registration is Now Open for 25th Annual REALTORS® At The Capitol - April 1, 2009

111 Founders Plaza, Suite 1101
East Hartford, CT 06108
1-800-335-4862
Fax (860) 290-6615
www.ctrealtor.com

Hotsheet Legal Tip

A Drawback to Paying Off a Mortgage Loan Early

When an owner contemplates paying off his mortgage loan early (for example, he received an inheritance or he’s refinancing), he should look to see if he will have to pay a penalty. A mortgage or note may include a prepayment penalty clause which addresses a borrower’s right to pay off a loan prior to its date of maturity - some prepayment clauses allow a borrower to pay in full before the date of maturity without a penalty and some loan agreements charge a penalty for early repayment. The prepayment penalty compensates the lender for the interest on the loan it will now not be earning. So, yes, the owner can retire his debt, but he may have to pay a penalty for doing so.

Mid-State Legislative Breakfast

Come and meet elected officials (Representative John Geragosian, Representative Joe Aresimowicz, Representative John Piscopo, Representative William Hamzy, Representative Frank Nicastro, Representative Corky Mazurek, Senator Thomas Colapietro, and Senator Antonio Guerra) in an informal setting. Chat about the topics that are important to you and your business on February 24 from 9:00 -11:00 a.m. at the Clarion Hotel, Bristol. Breakfast buffet is $20. Guests are always welcome!! Call the board office at 860-793-9414 to RSVP. Let’s fill the room at the Clarion!

Change my email address!

Registration is now open for REALTORS® at the Capitol 2009 which will be held April 1st, 2009. Click here to view a special video message from 2009 CAR President Linda St. Peter regarding this year's REALTORS® at the Capitol event. This event is free and all members are encouraged to attend. Having a significant size group at the Capitol will show the Legislators that we mean business! Every attendee makes a difference! In tough economic times like these it is even more crucial than ever to be heard in Hartford! Register today to support your industry and your clients. Information and an online registration form is available here.

"United Real Estate Services Group" Spamming CAR Members

If you have received emails from "The unitedrealestateservicesgroup" please do not reply. The unitedrealestateservicesgroup email address does not accept the reply and simply bounces the email to various recipients. On Monday, February 16, 2009, CAR contacted the web host who had registered the unitedrealestateservicesgroup.com domain and made a demand that the website and email address be shut down for violations of the CAN-SPAM Act and violations of the REALTOR® service mark. That same day, CAR received a communication from the web host that it had complied with the demand.  Please be advised that these e-mails do not originate from the Connecticut Association of REALTORS® nor has CAR authorized these emails or provided email addresses for this purpose. These emails do not originate from REALTOR® members either. Any emails you receive from REALTOR® members are the result of that member attempting to contact the unitedrealestateservicesgroup address to unsubscribe or complain or hitting "Reply All" and sending email intended for unitedrealestateservicesgroup.com to everyone in the address list. Unfortunately, these efforts simply make matters worse. Do not attempt to reply to the unitedrealestategroup email address. Please do not hesitate to contact CAR General Counsel Attorney Eugene Marconi should you have any questions.

Broker Pre-Licensing Requirements 
In order to receive your broker’s license the Real Estate Commission requires 2 years experience as a salesperson in addition to 120 hours of class time (60 hours of Principles and Practices + 30 hours of Appraisal-1 + 30 hours of an elective real estate related course). Check out CAR’s 2009 Education Schedule for a list of broker pre-licensing courses! Each GRI Series is approved for 30 hours of elective broker pre-licensing credit. GRI-1 will be held in West Hartford on March 2 at the Greater Hartford Association of REALTORS® office. On March 12 Appraisal-1 is scheduled to run in Old Saybrook at the Midd-Shore Association office. Register for Appraisal-1 by February 26 and save $25. For course information and to register click here or contact Abby Krist with any questions.
Housing Connecticut Sixth Annual Symposium 

The Sixth Annual Housing Connecticut Symposium will be Friday, February 27, 2009 9:00 a.m. to noon at The Lyceum, 227 Lawrence Street, Hartford, CT. The focus of the discussion is what President Obama’s administration will mean for the housing and mortgage industries in Connecticut. The event will include panels, experts, networking opportunities, and vendors. The symposium is presented by The Connecticut Mortgage Bankers Association in cooperation with the Affordable Housing Committee, Connecticut Association of REALTORS®, Connecticut Housing Coalition, and the Partnership for Strong Communities. For more info click here.

Gates Scholarship Applications Are Now Available! 

Raymond F. Gates, Jr. Memorial Scholarship applications are now available! Children of REALTORS®, REALTOR-ASSOCIATES®, Local Board/Association Staff and CAR staff members are eligible to apply. Please note, you will need your ctrealtor.com username and password to download the application. Click here to obtain yours. Click here to download an application package. Applications not complete or received by the Friday, May 15 deadline will not be considered. For more information, contact Abby Krist.

Contribute to the Gates Scholarship Auction/Luncheon

Plans are underway for the 9th Annual Gates Scholarship Auction/Luncheon which will be held on Tuesday, April 21st at the Crowne Plaza in Cromwell (immediately following the CAR BOD meeting). We are presently seeking donations and items to include in the auction. Over the past 32 years the Raymond F. Gates, Jr. Scholarship Fund has provided over $520,500 in scholarships to the children of REALTORS® Last year alone, 55 children of REALTORS® received $47,500 in scholarships to assist them in their pursuit of higher education. But we are limited to awarding what is received in donations and interest earned on the fund each year...so please consider contributing to this worthwhile cause. Click here to make a monetary donation thru our secure site or click here to complete the paperwork to donate an item for the auction.

Eight Days Left to Take Advantage of the EcoBroker Special Offer
For a limited time, CAR’s members can received a $50 savings toward their EcoBroker designation. Consumers care about energy savings and environmental protection and they are concerned about environmental hazards.  The EcoBroker designation courses show you how to make the energy and environmental market a profitable part of your business. The entire designation is available online - set your own schedule and pace while earning 9 hours of elective continuing education credit and becoming a valuable resource for your clients.  To enroll or to learn more about EcoBroker, click here.  Use promo code CTAR08 to save $50!!!  Promotion ends February 28, 2009.
Instructor Training Seminar to be Held April 28th 

CAR will host a one-day Instructor Training Workshop with National Speaker/Trainer/Instructor Rhonda Hamilton on Tuesday, April 28th in the CAR Office, 6th Floor Conference Room. The program is open to all instructors and to those wishing to enhance their ability to prepare and deliver high-impact presentations! Join your peers at a dynamic one-day Instructor Training Workshop designed for both new and experienced real estate Instructors. You will discover ways to have a tangible impact on other real estate professionals who are committed to advancing their careers and assisting their clients. Click here for more information or to register through our secure online site. Register by April 10th and take advantage of the savings!

REALTOR® Champs Speak Out on Legislation
Proposals to tax professional services, amend the green building law, allow unlicensed persons to engage in the real estate business, and protect rental housing owners have been the focus of CAR members volunteering their time at the State Capitol. A 6% sales tax on real estate commissions and appraisal fees (HB 6349) was denounced by CAR as well as Barbara Pearce, president of the H. Pearce Co. The bill is being considered by the Legislature’s Finance Committee. At another hearing, Joe Wrinn, SIOR, endorsed a bill (HB 6284) to rectify and clarify the State’s currently unworkable green building requirements. CAR President Linda St. Peter delivered an added punch on this issue when she attended a legislative reception sponsored by a coalition of industries favoring this measure. Kanayo Rupwani took time out of his busy schedule to speak out against a bill (HB 5401) that would permit unlicensed persons to receive “rewards” from developers or owners of
time share plans for referring prospective purchasers their way. Also, Christine Edwards traveled from Greenwich to endorse a bill making it easier for owners to obtain recourse when tenants don’t pay their rent. CAR thanks each of these REALTOR® Champions for their dedication and advocacy in protecting our business and furthering private property ownership!
RPAC/Political Fundraising Update
February finds Connecticut’s Political Fundraising off to a good start, with 572 REALTORS® already contributing their $15 Fair Share contribution.  Please click here to view the first 2009 Political Fundraising newsletter, and read all the news from RPAC in our state. For more information on RPAC, please contact Holly Reed.
This message was sent to . Visit your subscription management page to modify your email communication preferences or update your personal profile. To stop ALL email from Connecticut Association of REALTORS, click to remove yourself from our lists (or reply via email with "remove or unsubscribe" in the subject line).