peninsula realtor® jan/feb 2016
DESCRIPTION
ÂTRANSCRIPT
PeninsulaREALTORreg Digital Magazine
The Official Publication of the Virginia Peninsula Association of REALTORSreg
JAN-FEB 2016
PeninsulaREALTORreg Jan - Feb 2016page 2
PeninsulaPartnersof the Virginia Peninsula Association of REALTORSreg
DiamondAtlantic Bay Mortgage
Wells Fargo Home MortgagePlatinum
Fidelity Bank MortgageREIN Gold
Lytle LawMonarch Bank amp Mortgage Tidewater Home Funding
Silver2-10 Home Buyers Warranty bull C amp F Mortgage Corporation
Langley Federal Credit Union bullLytle Title amp ESCROWMovement Mortgage bull National Exterminating Company
Navy Federal Credit Union bull Old Republic Home WarrantyPillar To Post Home Inspectors bull SunTrust Mortgage Corporation
BronzeMares Exterminating Company bull Miller Walsh Kutz amp LASTER PLC
NARPM PENISULA CHAPTER bull Old Point Mortgage LLC PFG INSURANCE amp EMPLOYEE BENEFITS bull Staged To Sell
The Closers of Virginia bull The Real Estate Book bull Virtual Tidewater
OVER THE YEARS WE HAVE DEVELOPED A SPECIAL PARTNERSHIP WITH MANY OF OUR AFFILIATE MEMBERS WHO HAVE GIVEN SO MUCH FOR OUR
MEMBERS AND ASSOCIATION PeninsulaPartners
FORM A GROUP OF LOYAL HARD WORKING AFFILIATE MEMBERS WHO SUPPORT THE GROWTH AND PROMOTION OF THE ASSOCIATION AND
REALTORreg ASSOCIATION MEMBERSHIPPeninsulaPartners
ATTEND ASSOCATION ACTIVITIES AND EVENTS VOLUNTEER TO SUPPORT THE ASSOCIATION
PROMOTE ASSOCIATION ACTIVITIES SPONSOR ASSOCIATION PROGRAMS AND EVENTS
INTERESTED IN JOINING PeninsulaPartners Call us at 757-599-5222 or click here for a Partner Brochure
PeninsulaREALTORreg Jan - Feb 2016page 3
Publication EditorJim Wetzel RCE
Chief Executive OfficerVirginia Peninsula Association of REALTORSreg
1001 North Campus ParkwayHampton VA 23666
t (757) 599-5222f 757-596-3911
jimwetzelvparorg
Cindy AndersonDirector of Member Services
Jo McNamara DalyEducation Director amp Event Planner
PeninsulaREALTORreg is published monthly by Virginia Peninsula Association of REALTORSreg as a
service to its membership
Virginia Peninsula Association of REALTORSreg ldquoThe Voice for Real Estatetrade on the Virginia Pen-
insulardquo is your local association of REALTORSreg representing over 1000 local REALTORreg members
and affiliates
As members of Americarsquos largest trade association The National Association of REALTORSreg together we represent over 11 million members including NARrsquos institutes societies and councils involved in all aspects of the residential and commercial real
estate industries
Our membership is composed of residential and commercial REALTORSreg who are brokers sales-people property managers appraisers counselors and others engaged in all aspects of the real estate
industry
The term REALTORreg is a registered collective membership mark that identifies a real estate
professional who is a member of the National Asso-ciation of REALTORSreg and subscribes to its strict
Code of Ethics
COVER PHOTOVPAR Members promote REALTOR Careers at
Local Community Career Fairs
PeninsulaREALTORregDigital Magazine
The Official Publication of the Virginia Peninsula
Association of REALTORSreg2016 Officers amp Directors
PresidentAndy Cohen
President-ElectChandra Patterson
TreasurerCarl Burt
Immediate Past PresidentDewey Hutchins
Directors Stephen AbbittSandra Hood
Eugenia JacksonLindsay Pennington
Crystal Sullivan Robert ldquoSullyrdquo Sullivan
Amanda Walsh Patierno CEO
Jim Wetzel RCE
Advertising PolicyWhile this magazine makes reasonable effort to establish the integrity of its advertisers it does not endorse adver-tised products or services unless specifically 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 REALTORreg members member firms affiliate members and non-members Product advertising is limited to resi-dential subdivisions commercial or industrial units and real estate related products and services excluding per-
sonal listingsEqual Opportunity Policy
VPAR is pledged to the letter and spirit of US policy for the achievement of equal housing opportunity The Asso-ciation encourages and supports an affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race color elderliness reli-
gion sex handicap familial status or national originNotice
VPAR does not fix control recommend suggest or main-tain commission rates or fees for services
rendered by cooperating members or non-members
PeninsulaREALTORreg Jan - Feb 2016page 4
PeninsulaAffiliatesof the Virginia Peninsula Association of REALTORSreg
1st Advantage Federal Credit Union Jessica Cecil (757) 877-24442-10 Home Buyers Warranty Carolyn Ricketts (571) 606-8051Alpha Pest Solutions Sindi Rowell (757) 873-4999Amerispec Home Inspection Jamison S Brown (757) 868-0988Atlantic Bay Mortgage Group Kim Niccum (757) 874-6040Bankers Title LLC J Vance Stallings (757) 645-9327BB amp T Mortgage of Virginia Donna Davis (757) 873-6001BridgeTrust Title Group Raynelle Ricks (757) 671-7413CCW Construction Christopher Walker (757) 719-0520CampF Mortgage Mary Rebholz (757) 873-8200Coleman amp Coleman PLC Donnie Coleman (757) 965-8482Coleman World Wide Moving Allied David Carter (757) 827-6225Colonial Exterminating Co Kimberly Beckett (757) 599-0889Commonwealth Exterminating Johnny Newell (757)873-2030Comparity LLC Michael Vernon (757) 333-0705Cox Communications Misty Pritchett (757) 222-8394Creative Chameleon Media Karen D Lawson (804) 694-7586ET Lawson amp Son Inc Nancy L Allen (757) 722-1928Fidelity Bank Mortgage Nina C Efird (757) 597-0431First American Home Buyers Pro Jamie Cook (757) 390-8785Flemings Awards amp Promotional Fleming A Buck (757) 229-5688Fulton Mortgage Company Ryan Mutter (757) 223-4330HMS Home Warranty Amy Holloway (757) 472-5602Home Title of Virginia LLC Peggy H Truitt (757) 599-4663Home Warranty of America Tina Carneal-Flowers (757) 675-1185Johnson Mortgage Company LLC Allen Barber (757) 873-1287Jones Blechman Woltz amp Kelly Herbert Kelly Esq (757) 873-8000Kaufman amp Canoles PC Mark A Short (757) 873-6351Langley Federal Credit Union Tammy Gelles (757) 827-7200Liberty Title amp Escrow Michael Hamar (757)926-5255Lytle Law PC Brian D Lytle (757) 595-5655Lytle Title amp Escrow LLC Heather Fuller (757) 643-7899Mares Exterminating Co LLC Thomas Mares (757) 868-4898Miller Walsh Kutz amp Laster PLC Julianne Cyr (757) 595-0123Monarch Mortgage Andrew Jordan (757) 870-5445D Wayne Moore Esq (757) 873-7700
Please join us in supporting our Affiliate Members by contacting them today Become an Affiliate here
Movement Mortgage David Wright (757) 717-0248NARPM Peninsula Chapter Russ Skidmore (757) 715-3070National Exterminating Co Phillip Burke (757) 599-3621Navy Federal Credit Union Karen Arient (877) 573-2324 ext21237Old Point Mortgage LLC Sherry Thacker (757) 591-5847Old Republic Home Protection Brett Cole (703) 217-8848OVM Financial Inc Chip Simkins (757) 713-2600Peerless Carpet amp Restoration Rebecca Shultz (757)847-6300Peninsula Title Company Robin B McArthur (757) 595-2536PESTOUT Glen Workman (757) 223-9902PFG Insurance amp Benefits Derry Haywood (757) 873-4508Pillar to Post Home Inspection Cathi Lynch (757) 870-4073PNC Mortgage Elyse Callaway (757) 599-6882PrimeLending Mike Hartnett (757) 368-9910Prof Termite amp Moisture Control Patrick Rogan (757) 599-3167Prospect Mortgage Ilonka Avila (757) 873-4728Prosperity Mortgage Kevin Hull (757) 490-9200Pro-Tech Exterminating Inc Bob Herget (757) 224-1339REIN Joan Griffey (757) 531-7900Reliance Pest amp TermiteInc Wayne Kessinger (757) 485-5005Servpro of Hampton Missy Burns (757) 825-9700ServiceLink Raquel Linger (757)254-8352Staged 2 Sell Therese Robinson (757) 344-5322Suntrust Mortgage Corporation Tricia Gentry (757) 873-7920Terry Peterson Residential John Peterson (757) 460-1770The Closers of Virginia Inc Bella Trowbridge (757) 595-4707The Real Estate Book Bill McFall (757) 873-6731Tidewater Home Funding Gee Horton (757) 757-223-9494Tidewater Mortgage Services Bob Teravainen (757) 594-6165TowneBank Mortgage Shirley Sasser (757) 687-5000US Inspect Inc Kevin Salva (757) 254-2960Universal Pest amp Termite Inc George Pilkington (757) 502-0200VA Housing Development Authority Janice Burgess (800) 227-8432VA Peninsula Chamber of Commerce Mike Kuhns (757) 325-8170Virtual Tidewater Rosalind Boyle (757) 880-6422Wells Fargo Home Mortgage Teresa Rutherford (757) 873-3308
PeninsulaREALTORreg Jan - Feb 2016page 5
And Then Some
We do more than sell houses We do more than guide our clients and custom-ers through the intricacies of the home buying or selling process We do more than is required of us by state and national statute As REALTORSreg we do these thing and then some I have been reminded of this often over the past month
On February 2 the VAR Roadshow visited the VPAR building No song and dance this The Roadshow is a required Code of Ethics and procedures update for Associa-tion Board and Professional Standards Committee members At VPAR this is an annual requirement The Code and itrsquos enforcement is among the things that set Realtors apart from other licensees
At the VAR Legislative Conference in Richmond we were reminded of the importance of our RPAC investment and the positive effects it has on legislation that best serves not only us but home-owners buyers and sellers I was pleased and proud to join in being presented the ldquoTriple Crownrdquo trophy for meeting and exceeding our 2015 goals for participa-tion dollars raised and number of major
donors Thanks are due to 2015 Presi-dent Dewey Hutchins and RPAC chair Carla Carney for a job well done Among the fruits of our efforts is the ear and sup-port of our local General Assembly delega-tion who met with us in their offices and at a reception that was also attended by Governor McAuliffe
On February 23 we welcomed more than two dozen new members to VPAR They learned and I was reminded about the myriad of resources that are available to each of us from VPAR VAR and NAR I encourage you to take advantage of them
Finally take a look at our VPAR partners and affiliates Their involvement with the Association allows us to make more programs and educational opportunities available to us When you see them please thank them and if they provide a service that you can use please keep them in mind
Happy selling
Presidentrsquos Messageby Andy COHEN 2016 VPAR President
PeninsulaREALTORreg Jan - Feb 2016page 6
PeninsulaREALTORreg Membership By Cindy Anderson Director of Membership
WELCOME NEW REALTORSregClinton Allen Rose amp Womble Realty Company James Beal Abbitt Realty Company LLC
Charles Blount Preferred Properties Kim Borum Berkshire Hathaway HomeServices Towne Mindy Bowman Abbitt Realty Co LLC Benjamin Canty greg garrett realtycom
Monteiro Chamblee Willow Beach Real Estate LLC Shirley Charles greg garrett realtycomLelani Clayton Coldwell Banker Traditions John Gorman Keller Williams Elite - Pen
Marcela Graham Mid-Atlantic Residential Michelle Guthrie REMAX CapitalJillian Hooper Rose amp Womble Realty Company Ashley Horak Keller Williams Elite - Pen
Tresa Maynor Mid-Atlantic Residential Kathleen McKone Rose amp Womble Realty CompanyRebecca Montreuil-Silvis EXIT Real Estate Solutions Beth Posada Keller Williams Elite - Pen
Valerie Shelton Keller Williams Elite - Pen Ronnie Snipes Keller Williams Elite - PenJulie Strelow Fathom Realty Daniel Zarkowski Abbitt Realty Co LLC
RECENT TRANSFERSMaria Araiza Howard Hanna-William E Wood Edward V Bond Howard Hanna - William E Wood
Nancy S Bonnema Berkshire Hathaway HomeServices Towne RealtyChiffon Bradshaw Willow Beach Real Estate LLC Sammie Buckhanon Keller Williams Elite - Pen
Victoria Burland Brian F Saunders amp Associates Tracie Burton Keller Williams Elite - PenDeborah Eggers Keller Williams Elite - Pen Kimberly Gonzalez Keller Williams Elite - Pen
Sabrina Hack Keller Williams Elite - Pen Sabrina Hite REMAX PeninsulaKim Hoskins Keller Williams Elite - Pen Jessica Lucas Keller Williams Elite - Pen
Jon E May Fathom Realty Lorri McDonald Keller Williams Elite - PenKristi McKittrick Rose and Womble LLC Pamela Murphy ERA Real Estate Professionals
Jake OrsquoBryan Abbitt Realty Co LLC Tracy Prince Keller Williams Elite - PenPatsy G Sheppard Keller Williams Elite - Pen Carol A Sobieski CENTURY 21 Nachman Realty
David Tortolini Keller Williams Elite - PenRay Upright Howard Hanna - William E Wood Rachael Ward Brian F Saunders amp Associates
WELCOME NEW AFFILIATES Christopeher Walker CCW Construction
Michael Vernon Comparity LLC Sherry Thacker Old Point Mortgage LLC
adapted homes for severely injured post-911 veterans Each home is built with features that accommodate the needs of the veteran and offered mortgage-free so that the veteran can focus on recovery and rebuilding a healthy life Operating for 11 years Homes for Our Troops has built over 190 homes across the United States and currently has five projects underway in Virginia The organization is top-rated for financial stewardship and operations and works carefully with each veteran on homeownership readiness and responsibility
In August 2015 the Virginia Association of REALTORSreg became a regional corpo-rate partner of Homes for Our Troops in a lasting commitment to the housing needs of Virginia veteran and military families With hundreds of contributors and over $60000 in the first few months of part-nership REALTORSreg across the state are engaged in supporting the projects underway and the veterans in their com-munities
One of the first homes that Virginia REAL-TORSreg and HFOT built is located in York County The event during which the key is presented to the injured veteran will be held on March 6 2016 VPAR has been conducting outreach to area elected of-ficials inviting them to attend this special morning VPAR members can learn more details by visiting httpswwwhfotusaorgslate
PeninsulaREALTORreg Jan - Feb 2016page 7
The PeninsulaMonitor by Susan Gaston LEGISLATIVE CONSULTANT
Monthly Public Policy Report
ldquoTHE MONITORrdquo February 2016
Local Issues
Newport NewsVPAR is coordinating with the Wason Center for Public Policy at Christopher Newport University regard-ing public dissemination and media po-tential for the recently produced housing needs study and market needs analysis The study is a resource to the decision makers in the region particularly in the City and we want to position the Associa-tion as a leading organization in formulat-ing future housing policy
PoquosonMark your calendars for Friday May 6th The City is hosting its annual Residential REALTORreg Day where VPAR members can hear from City leaders tour the ldquoBull Islandrdquo and have a Fun Friday Been there done that Donrsquot worry VPAR is work-ing with the City to reformat the popular event so that it is new to even repeat at-tendees More to comehellip
York County Last year the Virginia Association of RE-ALTORSreg (VAR) partnered with Homes for our Troops (HFOT) a national non-profit organization that builds specially
Regional Issues
Local voters will go to the polls in Hamp-ton and Newport News on Tuesday May 3rd Hampton elections will include voting for Mayor and three At-Large City Council seats with Mayor George Wal-lace and Council Members Linda Curtis Billy Hobbs and Chris Snead all seeking re-election Other candidates likely will be coming forward before the March 15th filing deadline
In Newport News three incumbents will be seeking re-election to City Council In the Central District incumbent Pat Wood-bury will be challenged by Mike Mullin Councilman Rob Coleman in the North District currently is running unopposed as is South District Councilwoman Tina Vick
VPARrsquos Public Policy Committee will be conducting candidate interviews for the purposes of endorsing pro-housing pro-business candidates and supporting their campaigns with funds from the REAL-TORSreg Political Action Committee (RPAC) of Virginia
State Issues
At the time of this writing the 2016 General Assembly Session has reached the halfway mark and is in the final two weeks of legislative work REALTORreg bills are in strong shape as the House and
Senate finalize committee action
HB 577AgencyLicensing Law Revisions Passed the House 97-0 020316Passed the Senate 40-0 022516On Governorrsquos Deskhttplisvirginiagovcgi-binlegp604exe161+ful+HB567+pdf
HB 577 InterpleaderEscrow Accounts Passed the House 98-0 020216Reported from Senate Courts of Justice Committee 022416httplisvirginiagovcgi-binlegp604exe161+ful+HB577+pdf
HB 684POACOA Amendments Passed the House 99-0 021016Reported from the Senate General Laws amp Technology Committee 15-0 022216httplisvirginiagovcgi-binlegp604exe161+ful+HB684+pdf
SB 453Licensing of Home Inspectors Passed the Senate 30-9 012916Passed the House 100-0 022216On Governorrsquos Deskhttplisvirginiagovcgi-binlegp604exe161+ful+SB453+pdf
A more detailed legislative report will be forthcoming as more bills report out of Committee and move off of the floors
PeninsulaREALTORreg Jan - Feb 2016page 8
The PeninsulaMonitor Continues
PeninsulaREALTORreg Jan - Feb 2016page 9
2016 REALTOR Day on the HillRichmond VA
Virginia Peninsula Association of REALTORSawarded the 2015 RPAC Triple Crown
at the RPAC Awards Ceremony
Recognized for Meeting amp Exceeding2015 RPAC Fundrasing Goal
2015 RPAC Participation Goal2015 Major Investor Goal
Shown accepting award Dewey Hutchins 2015 President Carla Carney 2015 RPAC Chair Karla Grase RPAC Vice Chair Andy Cohen 2016 President Jim Wetzel CEO and
Bill White 2016 VAR President
PeninsulaREALTORreg Jan - Feb 2016page 10
The PeninsulaMarket by the Virginia Association of REALTORSreg
January 2016 Homes Sales Report Steady start to the Virginia housing market in new year - Median sales price up more
than 3 percent YOY - January 2016 residential real estate sales top $174 billionAccording to the Virginia Association of REALTORSreg (VAR) January 2016 Home Sales Report residential real estate sales in the first month of the year reflected typical indus-try seasonality Historically January is the slowest month for home sales and this year was particularly affected by a catastrophic winter weather event Despite significant disruption to market activity from Winter Storm Jonas volume declined by less than one percent year-over-year remaining near static with January 2015 Median sales price rose year-over-year contributing to a higher total transaction value than January 2015 The value of transactions in January 2016 exceeded $174 billion an outperformance of the same month last year despite near even sales numbers Median sales price for Janu-ary 2015 rose 326 percent from the same period last year from $237750 to $245500 and more than 7 percent from January 2014 ($228380) Year-over-year elevation indi-cates sustainable market improvement Read the full report here
PeninsulaREALTORreg Jan - Feb 2016page 11
Federal Issues
NAR TESTIFIES ON VETERANSrsquo HOUSING
On Feb 10 NAR 2016 Vice President Sherri Meadows testified before the House Veterans Affairs Subcommittee on Economic Opportunity at a hearing entitled ldquoA Review of VArsquos Loan Guaranty and Specially Adaptive Housing Grant Programs (SAH)rdquo The testimony focused on long-term REALTORreg support for the VA home loan guaranty and the benefits it provides our nationrsquos veterans According to the 2015 NAR Homebuyer and Seller Survey one in five buyers was a veteran or active duty service member NAR recommends all REALTORSreg ask their clients if they have ever served as this program provides zero-downpayment loans and favorable terms to eligible veterans
In the testimony Meadows asked for three enhancements to the program to make it even more useful for veterans 1) increase the loan limits for VA VA is not just another loan program - itrsquos an entitlement Veterans should not be prohibited from using their guaranty in high cost areas 2) ease restrictions on what the veteran can pay in the mortgage transactions Veterans are often disadvantaged when bidding on a home due to their inability to negotiate certain fees and 3) incentivize lenders to offer
an FHA 203k-type product for veterans This type of loan includes the costs of rehabilitation and repairs and could allow veterans better access to homes that need some work
NAR also supported increasing efficiency in the specially-adapted housing (SAH) grant programs and urged the Committee to make the VA loan as useful as possible for all our nationrsquos veterans so it may be a real benefit to those who have so bravely served our country
Watch the video here httpswwwyoutubecomwatchv=VW_srZ1yUcw
HOUSE PASSES VA LOAN BILL
In early February the House of Representatives passed legislation which included a provision to eliminate the cap on VA loan limits The bill HR 3016 ldquoVeterans Employment Education and Healthcare Improvement Actrdquo sponsored by Rep Wenstrup (R-OH) included an amendment added by Rep Zeldin (R-NY) in Committee that would allow veterans to purchase a home in high cost areas by eliminating the maximum loan amount on VA loans As stated in the accompanying report ldquoThe Committee is confident VArsquos current strict underwriting standards and low foreclosure rates will ensure that veterans still have the required good credit and income to qualify for the loan and that this change will not
PeninsulaREALTORreg Jan - Feb 2016page 12
The PeninsulaMonitor continued
PeninsulaREALTORreg Jan - Feb 2016page 13
result in a significant increased amount of foreclosuresrdquo NAR has long supported the VA home loan guaranty program and believes that as an entitlement program our nationrsquos veterans should have the freedom to purchase a home wherever they choose to live
Should you have questions on these or other issues or for additional details please contact Susan Gaston VPARrsquos Legislative Consultant at 757-871-1445 or at susangastongroupcom
PeninsulaREALTORreg Jan - Feb 2016page 14
The PeninsulaMonitor continued
Commuting Costs Important to Home Buyers
Even with plunging gas prices the cost of commuting to and from the office can be pricey (as well as stressful) But how much does that commute play into the homebuying process According to research from the National Association of REALTORSreg commuting costs defi-nitely come into play in searching for and purchasing that dream home in fact 30 percent of homebuyers purchased homes last year to cut down on commut-ing costsmdasha factor they cited as ldquovery importantrdquo Additionally 64 percent of buyers bought their home in part because it was convenient to their job this was so important that 23 percent of those buyers said they compromised on the price of their home to be physi-cally closer to work mak-ing more time for the other important things in their life such as spending time with friends and family
Take a look at NARrsquos 2015 Profile of Home Buyers and Sellers Read more about this topic on NARrsquos Econo-mistsrsquo Outlook blog
The PeninsulaMarket Tips
PeninsulaREALTORreg Jan - Feb 2016page 15
REALTORSreg amp RESPA
Are Realtors Getting Reli-gion
Most Realtors are aware of the anti-kick-back provi-sions of the
Real Estate Settlement Procedures Act ldquoNo man shall giveth Yea neither shall he receiveth any thing of value to God or Mammon pursuant to any covenant under the heavens that calleth for referrals of settlement servicesrdquo Book of RESPA 84
This well-known proverb articulates the received wisdom of Congress that refer-ral fees unnecessarily add to the cost of settlements and thus make housing less affordable for Godrsquos children Not every-one agrees however RESPA expert Phillip Schulman for instance has articulated a three-part test to determine the legality of any particular activity under RESPA First Does the activity make business sense that is does it tend to increase efficiency decrease waste and lower costs Second Does the activity benefit the parties to the transaction (here the brokers borrowers buyers and sellers) And finally Would the activity be permitted in almost any
other arena of commerce as accepted and ethical business practice If the answer to all three questions is yes then the activity says Schulman is almost certainly illegal under RESPA
The essence of Section 8 of RESPA seems to be that while the business expense of a targeted and highly effective referral fee paid by a lender to a referral source must be recovered by the lender in the form of higher loan costs the highly inefficient ad-vertising that replaces the referral source does not You can decide what to make of that argument
However we have to live with the RE-SPA prohibition against paid referrals as valueless acts that serve only to drive up costs But even RESPA acknowledges that it is legal to be paid for services actually performed up to the value of the services if the services are not referrals (which by definition have no value) And it is legal to refer business to an entity of which you are an owner as long as your compen-sation is based on your profit from the entity and not linked to the referral per se And thereon hangs an interesting tale
Lenders and other settlement service pro-viders long ago discovered that offering a piece of the pie to sources of referrals made good business sense Thus we have seen a proliferation of real estate broker-
Risk ManagementREALTORSreg and RESPAby Blake Hegeman CAE Deputy General Counsel
PeninsulaREALTORreg Jan - Feb 2016page 16
Risk ManagementREALTORSreg and RESPAby Blake Hegeman CAE Deputy General
lender lender-title company broker-settlement agency joint ventures over the years These couplings make great sense and afford the participants incentives to refer business to the joint venture partner This type of relationship does not violate RESPA if the benefit accruing to the referral source is strictly according to ownership interest in the benefited entity and the consumer to whom a referral is made is given the RESPA Miranda warning ndash basically that the person making the referral may benefit from it that the service will cost a certain amount and that the consumer might find the service cheaper elsewhere These relationships are legal and ethical and can be quite beneficial
Now because RESPA permits service pro-viders to pay for service actually performed some have tried ndash with varying degrees of
success ndash to skirt RESPA by paying more than the service is worth or for duplicative efforts or even for only nominal ndash or no -- service These ldquodisguisedrdquo referral fees are illegal and much despised by HUD who seeketh after them like the righteous man seeketh after salvation
That brings us to a more recent phenom-enon the efforts of some mortgage brokers and lenders to avoid the strictures of RESPA by hiring referral sources as employees and paying them for work they do as employees Of course much or all of that work will be for clients referred by the employee but if the employeremployee relationship is bona fide and the salary is for -- and commen-surate with -- services actually performed the relationship can be legal Itrsquos likely that HUD will apply something like the IRS test to determine whether the employee really is an employee and virtually everyone acknowledges that merely giving the ldquoem-ployeerdquo a W-2 and calling her an employee will not be enough
PeninsulaREALTORreg Jan - Feb 2016page 17
Risk ManagementREALTORSreg and RESPAby Blake Hegeman CAE Deputy General
We also need to be aware of another limita-tion imposed by Virginia law even when the labyrinth of RESPA has been negotiated The Virginia Mortgage Lender and Bro-ker Act provides in Section 61-422 that a person may not receive a fee as a mortgage broker and a real estate broker for services performed in the same transaction unless the person was licensed and regularly engaged in mortgage brokerage in Virginia as of Feb-ruary 1989 This resolution of a turf battle between mortgage and real estate brokers was weakened by a provision permitting real estate brokers (but not salespersons) who are owners of a real estate firm to own
an interest in a mortgage lender or broker and to profit from such investment and be compensated for services actually performed for those entities But the prohibition on dual brokerage fees to non-grandfathered persons persists
These are only a few examples from the veritable patchwork quilt of efforts to overcome RESPArsquos prohibition on referral fees Perhaps what Realtors need most to be aware of is that HUD approaches what it sees as RESPA violations with a fervent zeal displayed few other places If you are look-ing for a way to receive a fee for referring settlement business look for another way to make a buck If yoursquore willing to work le-gitimately for a service provider and get paid for the value of what you do -- and no more ndash there are opportunities out there awaiting
NEW Womens Council of REALTORSreg Coastal Chapter at VPAR
PeninsulaREALTORreg Jan - Feb 2016page 18
PeninsulaREALTORreg UPCOMING EVENTSby Jo McNamara Daly Director of education and events
Save The Dates
March 5th - OSC Awards Banquet at City Center
March 22nd - Lunch amp Learn SEO
April 12th - VRLTA Seminar with Chip Dicks
April 19th - General Membership Meeting at VPAR
May 9th - 14th - NAR Legisilative Conference in DC
PeninsulaREALTORreg Jan - Feb 2016page 19
Ready To Get StartedCONTACT ATLANTIC BAY TODAY
For examplehellip A borrower age 72 with a purchase price of $200000 would require ONLY $92000 at closing for the Reverse Mortgage
Homeowner continues to pay insurance and property taxes live in and maintain home Home must be primary residence Program not currently available in all states People portrayed are professional models and are used for illustrative purposes only Terms and conditions subject to change without notice Consult your tax advisor before choosing a reverse mortgage
Clients Mustbull Be 62 or older to qualify (at least one person-can have younger spouse as non-borrower to
qualify)
bull Own your home outright (or have a low mortgage balance that can be paid off at closing with proceeds from the reverse loan or have a large down payment to purchase)
bull Have the financial resources to pay ongoing property charges including taxes and insurance
bull Live in the home
You donrsquot make payments while you live in the house but the loan and interest come due when you sell move out for 12 months or more or last person leaves the house permanently
DAWN ST CLAIR PHILLIPSSr Mortgage BankerNMLS 115936757-715-5733dawnphillipsatlanticbaycomatlanticbaycomdawnphillipscom
Did you knowYOU CAN USE A REVERSE MORTGAGE TO PURCHASE A HOME
ARE YOU CONSIDERING MOVING CLOSER TO YOUR FAMILY OR DOWNSIZING TO A HOME THAT BETTER SUITS YOUR NEEDSOR LOOKING TO STAY IN YOUR HOME AND NEED ADDITIONAL INCOME
PeninsulaREALTORreg Jan - Feb 2016page 20
PeninsulaREALTORreg Jan - Feb 2016page 21
PeninsulaREALTORreg Jan - Feb 2016page 22
The PeninsulaRealEstateSchoolby Jo Mcnamara Daly Director of Education amp Events
2016 Continuing Education Classes Location
VPAR Building 1001 North Campus Parkway
Hampton VA 23666 757-599-5222
Payment MUST be made at time of registration Register online at membersvparorg and click on Member Service Center to login or complete this form and fax to 757-596-3911 or email to jovparorg VPAR reserves the right to cancel a class if less than 10 people are registered 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 12 Tuesday July 12 Tuesday Feb 9 Tuesday Aug 9 Tuesday Mar 8 Tuesday Sept 13 Tuesday Apr 5 Tuesday Oct 11 Tuesday May 10 Tuesday Nov 8 Tuesday June 21 Tuesday Dec 6
All 8 Hour Classes are from 830 ammdash530 pm
Code of Ethics (Meets NAR Quadrennial Requirements) amp Code of Conduct
Fair Housing Legal Updates amp Emerging Trends (Law) Flood Insurance amp Flood Map Instruction Real Estate Contracts Real Estate Agency
8-HR Elective CE Class Dates
Thursday Feb 16 Tuesday Sept 20 Tuesday May 17 Tuesday Nov 15
Anti-Trust Disclosures Professionalism Safety Do-Nots
3-HR Code of Ethics Course
Thursday November 3rd from 1ndash 4 pm Thursday December 8th from 1-4 pm
More dates to be added soon Meets NAR Quadrennial Requirements
Peninsula Real Estate School owned and operated by
Virginia Peninsula Association of REALTORSreg
Registration Form
Name Company Address City State Zip Phone Email License ______ Exp Date _
Method of Payment
Check Invoice Office Visa MasterCard AMX Discover Card Name on Card ____________________________ Credit Card _____ Exp Date Signature _____ Name on Card _________________________ Amount Due (check appropriate box) 8-Hour Course VPAR Member $50 8-Hour Course Non-Member $60 3-Hour Ethics Course VPAR Member $30 3-Hour Ethics Course VPAR Non-Member $35
PeninsulaREALTORreg Jan - Feb 2016page 23
Chip Dicks VAR Legislative
Counsel
The Virginia Peninsula Association of REALTORSreg in cooperation with
The Virginia Association of REALTORSreg presentshellip
VRLTA Update with Chip Dicks
Get the information you need on the updatedVirginia Residential Landlord Tenant Act
Tuesday April 12th 2016 900 am ndash 400 pm
_________________
$12500 per member $13000 per non-member
Virginia Peninsula Association of REALTORSreg 1001 North Campus Parkway Hampton 23666
Sponsor LUNCH INCLUDED
VRLTA Update with Chip Dicks ndash April 12th 2016Pending REB Approval for 3 Hours Legal Update amp 3 Hours Real Estate Related CE
Pending REB Approval for 2 Hours of Current Industry IssuesTrends Course will be submitted for approval at the end of the general assembly session to include anyall changes in the VRLTA
NAME FIRM
ADDRESS
CITY STATE ZIP
PHONE E-MAIL
Method of PaymentCheck ____ Visa MasterCard____ Discover___ AMX____
Credit Card Exp date
Signature(Your signature indicates acceptance of VPAR registration policy and authorization of credit card charges)
Name on credit card_______________________________________
PLEASE RETURN TO VPAR AT FAX NUMBER 757-596-3911 MAIL TO VPAR 1001 North Campus Parkway Hampton VA 23666 or register online at membersvparorg
QUESTIONS CALL 757-599-5222Cancellations must be received within 48 hours of the event to receive full refund On-site registration fee is $135 Please notify us in advance if you have a disability that requires special services
bull Get up to speed on the recent changes to the Virginia Residential Landlord and Tenant Act
bull Designed for both real estate brokers and sales persons this course offers a detailed review of lease applications
bull A ldquohow tordquo guide for broker agent compliance bull The awareness and information you need to protect your
business
Approved for
6 hrs CE and 2 hrs PL Credit
PeninsulaREALTORreg Jan - Feb 2016page 24
REINMLScom ndash A Valuable Member Resource
This year REIN unveiled a new and improved REINMLScom website If you havenrsquot logged in yet please be sure to do so and take advantage of all the site has to offer
If you have never been to REINrsquos member website and are wondering what it offers think of it as a ldquohubrdquo to all things REIN‐related From REINMLScom you can access Fusion and Matrix find market statistics and graphs the current monthrsquos training calendar PDF copies of REINrsquos contracts and forms and much more You can even access your membership account to review and pay invoices online
The new mobile friendly website offers you a fresh look eye‐catching graphics and improved navigation that makes information easy to find Plus two great new featureshellip
A lsquoSYSTEM STATUSrsquo section has been added to the home page of the website to identify when REINrsquos MLS systems and programs are experiencing known issues such as updates service interruptions or down time
The second new feature is lsquoASK REINrsquo ndash a robust technical support module ASK REIN allows you to search online documentation that can help you troubleshoot commonly asked technical questions and if you canrsquot find the answers you are searching for then you can lsquoSubmit a Support Requestrsquo to REINrsquos Tech Support Department directly from the website
To access the full benefits of REINMLScom members must log into the site using their REIN ID and a password If you have not already done so please establish a password for this website by clicking on lsquoChangeForgot Passwordrsquo located next to the green Log In button in the top right corner of the screen Then check your email for a link to reset your password If you still cannot log into the site please contact REINrsquos Tech Support at 7575317901 or supportreininccom
Check it out today wwwREINMLScom
PeninsulaREALTORreg Jan - Feb 2016page 25
Scenes From Our January Social At BJrsquos at Tech Center amp February at UNOrsquos
THANKS TO OUR ALL SPONSORS MARES Exterminating AT BJrsquos andFidelity Bank Mortgage at UnOrsquos
Vpar SOCIAL HAPPENINGS
PeninsulaREALTORreg Jan - Feb 2016page 26
The Virginia Peninsula Association of REALTORSreg presentshellip
The Accredited Buyer Representative Designation
(Approved for 13HRS CE credit)
Instructor Pat Snyder
Accredited Buyer Representative Designation Course ndash April 7 amp 8 2016
NAME FIRM
ADDRESS MEMBER
CITY STATE ZIP
PHONE E-MAIL
Method of Payment Check
Credit Card Exp date
Signature (Your signature indicates acceptance of VPAR registration policy and authorization of credit card charges) Real Estate License Exp date
PLEASE RETURN TO VPAR AT FAX NUMBER 757-596-3911 MAIL TO VPAR 1001 North Campus Parkway Hampton VA 23666 or register online at membersvparorg
QUESTIONS CALL 757-599-5222 Cancellations must be received within 48- business hours of course to receive a refund Registrations are
non-transferable On-site late registration fee is $325 VPAR RESERVES THE RIGHT TO CANCEL THE COURSE IF MINIMUM REGISTRATIONS ARE NOT MET
Please notify us in advance if you have a disability that requires special services
Thursday amp Friday April 7 amp 8 2016 830 am ndash 500 pm
APRIL IS A SPECIAL DISCOUNT MONTH (REGULAR MEMBER RATE IS $295)
VPAR Headquarters Training Room A 1001 North Campus Parkway Hampton VA 23666 Early Bird Pricing before April 1 by NOON
Members $255 Non-Members $275
Register after Members $275 Non-Members $300
On-site registration fee is $325
PeninsulaREALTORreg Jan - Feb 2016page 27
VPAR Peninsula Partners include the following loyal firms who have stepped up to support VPARevents and education throughout the year This program reflects a commitment to provide REALTORreg
members with the best business environment while connecting to industry professionals whoprovide valuable products and services It is designed to create a unique partnership between
sponsors and the Association where both members and sponsors benefit greatly through the abilityto network exchange ideas and conduct business
PeninsulaREALTORreg Jan - Feb 2016page 28
VPAR Members Supporting Our Communities atThe Poquoson Neighborhood Food Distribution
for the Peninsula Food Bank
PeninsulaREALTORreg Jan - Feb 2016page 29
CONTACT A LOCAL LOAN OFFICER AT 1-877-573-2324gt KIMBERLY CRESS EXT 21238gt LASHEKA PEARSON-PARKER EXT 21210gt NATASHA THOMAS EXT 21104
Federally insured by NCUA 100 financing loans include an additional funding fee which may be financed up to the maximum loan amount Product features subject to approval copy 2016 Navy Federal NFCU 13490 (2-16)
THEYrsquoLL ENJOY
gt no application feegt 100 financing optionsgt up to 6 seller contribution allowed
HELP YOUR CLIENTS UNLOCK THE DOOR TO THEIR FIRST HOME
13490_Peninsula_Realtor_Mag_Ad_2_162indd 1 2416 202 PM
PeninsulaREALTORreg Jan - Feb 2016page 30
smile you can have 2-10 Home Buyers Warrantyreg
on your team with our industry leading Home
Warranty Service Agreement
bull Over 55 million homes protected
bull Over 975 of claims paid
bull A Rating with the Better Business Bureau (BBB)
Carolyn Ricketts Account Executive5716068051| cricketts2-10com
Defeated a 500 Increase We helped to defeat a budget amendment that would have increased the deductible that property owners including
YOUR clients pay to have their leaking underground oil tanks cleaned up and repaired by 500 The current $500 deductible was proposed to go up to $2500
The petroleum tank increase was a budget amendment
Prison time 1 to 6 years We added a felony charge to any criminal who lures or entices a REALTORreg to a property with the intent to do harm
The added felony will increase a criminalrsquos sentence by up to 6 years The 1-6 years are the statutory sentencing guidelines
Save $150 - $500hr on attorneysrsquo fees We continued to refine legislation that allows property managers to represent your clients in General District court
without needing an attorney So how much would your attorney charge per hour Typically attorney fees range from $150 - $500hr
$12000 back to consumers Under a new law that VAR drafted we have made it easier for Virginia consumers who have received a court judgment to
collect damages from the Real Estate Transaction Recovery Fund The average claim is approximately $12000 The $12000 figure is an estimate by the DPOR finance staff on the average claim that comes before the Board
Wiped out $200per Sign Fines We worked with a state legislator to prevent a proposal creating daily fines of $200 for any sign in any public right of
way How often do you use such signs for your listings 10 days for 1 sign = $2000 The $200 per sign was the language in the proposed bill VAR was able to stop
Keep RPAC of Virginia working for you Without your support RPAC cannot remain a powerful voice on key legislative issues Your dollars help us make our voice heard
Visit VirginiaRealtorsChoosecom
RPAC of VIRGINIA VICTORIES BY THE NUMBER$
RPAC makes a difference Just look at the numbers
PeninsulaREALTORreg Jan - Feb 2016page 32
January 2016 Virginia residential real estate sales showed typical industry seasonality January tends to be the slowest month for home sales and this year was particularly affected by catastrophic Winter Storm Jonas In spite of blizzard conditions that halted market activity for several days sales volume was nearly on par with the same month last year The value of transactions in January 2016 exceeded $174 billion an out performance of the previous January Median sales price rose 326 percent year-over-year and more than 7 per-cent from January 2014 Year-over-year elevation indicates sustainable market improvement Click here for the complete report httptinyurlcomj7k254s
Full service marketing amp innovative mobile platformsall designed with your business in mind
NMLS 176544 Member FDIC
MonarchWhere homebuying dreams take flight
PeninsulaREALTORreg Jan - Feb 2016page 33
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAIL
Featuring250 characters25 per lineEast WilmingtonRutherford Grand LakesArington Hills CoolidgeElrot Florence GilbertGold Canyon King andQueen Cedar CrestBristol Newport JacksonMadison ElbertvilleBarrowALL ACROSS NORTH AMERICA
THERealEstateBookreg
Volume 00 Issue 00
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAILTo see a sample listing on your smartphone Text T312634 to 85377
Learn more at RealEstateBookMediaKitcomFor FREE MAGAZINES or to ADVERTISE visit our website or call 800-841-3401
Bill McFallMarket Representative
The Market Leader in Hampton Roads VA amp North America
780 Pilot House Drive Building 400B Newport News VA 23606
office 757-873-6731 bull cell 757-286-6731 bull fax 757-273-8275email billmcfallcoxnet
wwwRealEstateBookHRcom
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Interested in advertising your company Click here for our 2016 Adverstising Information
or call us at 757-599-5222 today
PeninsulaREALTORreg Jan - Feb 2016page 34
The PeninsulaPerspective by Jim Wetzel RCE CEO
Nobody will ever deprive the American people of the right to vote except the American people themselves and the only way they could do this is by not voting
Franklin D Roosevelt
This past week I was honored to attend our REALTOR Legislative Meetings in Richmond VA together with our members arriving from all corners of the commonwealth We arrived with a common mission of taking our message to our legislators on the many ways we can improve the real estate industry and homeownership opportunities in our communities
With pride our members spoke of the improvements in the real estate indus-
try over the past year and highlighted our recommendations on how together REALTORS and our legislative partners can make things even better in the years ahead We highlighted important chang-es that we felt would make not only the industry better but the lives of all who call Virginia their home
We spoke together and our legislators listened We made a difference
On March 1st the process of selecting our next President of the United States begins We have listened to the debates been inundated by the media heard from the political commentators and heard the endorsements
Now it is time for us to speak We can make a difference one vote at a time
PeninsulaREALTORreg Jan - Feb 2016page 35
PeninsulaREALTORreg Jan - Feb 2016page 2
PeninsulaPartnersof the Virginia Peninsula Association of REALTORSreg
DiamondAtlantic Bay Mortgage
Wells Fargo Home MortgagePlatinum
Fidelity Bank MortgageREIN Gold
Lytle LawMonarch Bank amp Mortgage Tidewater Home Funding
Silver2-10 Home Buyers Warranty bull C amp F Mortgage Corporation
Langley Federal Credit Union bullLytle Title amp ESCROWMovement Mortgage bull National Exterminating Company
Navy Federal Credit Union bull Old Republic Home WarrantyPillar To Post Home Inspectors bull SunTrust Mortgage Corporation
BronzeMares Exterminating Company bull Miller Walsh Kutz amp LASTER PLC
NARPM PENISULA CHAPTER bull Old Point Mortgage LLC PFG INSURANCE amp EMPLOYEE BENEFITS bull Staged To Sell
The Closers of Virginia bull The Real Estate Book bull Virtual Tidewater
OVER THE YEARS WE HAVE DEVELOPED A SPECIAL PARTNERSHIP WITH MANY OF OUR AFFILIATE MEMBERS WHO HAVE GIVEN SO MUCH FOR OUR
MEMBERS AND ASSOCIATION PeninsulaPartners
FORM A GROUP OF LOYAL HARD WORKING AFFILIATE MEMBERS WHO SUPPORT THE GROWTH AND PROMOTION OF THE ASSOCIATION AND
REALTORreg ASSOCIATION MEMBERSHIPPeninsulaPartners
ATTEND ASSOCATION ACTIVITIES AND EVENTS VOLUNTEER TO SUPPORT THE ASSOCIATION
PROMOTE ASSOCIATION ACTIVITIES SPONSOR ASSOCIATION PROGRAMS AND EVENTS
INTERESTED IN JOINING PeninsulaPartners Call us at 757-599-5222 or click here for a Partner Brochure
PeninsulaREALTORreg Jan - Feb 2016page 3
Publication EditorJim Wetzel RCE
Chief Executive OfficerVirginia Peninsula Association of REALTORSreg
1001 North Campus ParkwayHampton VA 23666
t (757) 599-5222f 757-596-3911
jimwetzelvparorg
Cindy AndersonDirector of Member Services
Jo McNamara DalyEducation Director amp Event Planner
PeninsulaREALTORreg is published monthly by Virginia Peninsula Association of REALTORSreg as a
service to its membership
Virginia Peninsula Association of REALTORSreg ldquoThe Voice for Real Estatetrade on the Virginia Pen-
insulardquo is your local association of REALTORSreg representing over 1000 local REALTORreg members
and affiliates
As members of Americarsquos largest trade association The National Association of REALTORSreg together we represent over 11 million members including NARrsquos institutes societies and councils involved in all aspects of the residential and commercial real
estate industries
Our membership is composed of residential and commercial REALTORSreg who are brokers sales-people property managers appraisers counselors and others engaged in all aspects of the real estate
industry
The term REALTORreg is a registered collective membership mark that identifies a real estate
professional who is a member of the National Asso-ciation of REALTORSreg and subscribes to its strict
Code of Ethics
COVER PHOTOVPAR Members promote REALTOR Careers at
Local Community Career Fairs
PeninsulaREALTORregDigital Magazine
The Official Publication of the Virginia Peninsula
Association of REALTORSreg2016 Officers amp Directors
PresidentAndy Cohen
President-ElectChandra Patterson
TreasurerCarl Burt
Immediate Past PresidentDewey Hutchins
Directors Stephen AbbittSandra Hood
Eugenia JacksonLindsay Pennington
Crystal Sullivan Robert ldquoSullyrdquo Sullivan
Amanda Walsh Patierno CEO
Jim Wetzel RCE
Advertising PolicyWhile this magazine makes reasonable effort to establish the integrity of its advertisers it does not endorse adver-tised products or services unless specifically 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 REALTORreg members member firms affiliate members and non-members Product advertising is limited to resi-dential subdivisions commercial or industrial units and real estate related products and services excluding per-
sonal listingsEqual Opportunity Policy
VPAR is pledged to the letter and spirit of US policy for the achievement of equal housing opportunity The Asso-ciation encourages and supports an affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race color elderliness reli-
gion sex handicap familial status or national originNotice
VPAR does not fix control recommend suggest or main-tain commission rates or fees for services
rendered by cooperating members or non-members
PeninsulaREALTORreg Jan - Feb 2016page 4
PeninsulaAffiliatesof the Virginia Peninsula Association of REALTORSreg
1st Advantage Federal Credit Union Jessica Cecil (757) 877-24442-10 Home Buyers Warranty Carolyn Ricketts (571) 606-8051Alpha Pest Solutions Sindi Rowell (757) 873-4999Amerispec Home Inspection Jamison S Brown (757) 868-0988Atlantic Bay Mortgage Group Kim Niccum (757) 874-6040Bankers Title LLC J Vance Stallings (757) 645-9327BB amp T Mortgage of Virginia Donna Davis (757) 873-6001BridgeTrust Title Group Raynelle Ricks (757) 671-7413CCW Construction Christopher Walker (757) 719-0520CampF Mortgage Mary Rebholz (757) 873-8200Coleman amp Coleman PLC Donnie Coleman (757) 965-8482Coleman World Wide Moving Allied David Carter (757) 827-6225Colonial Exterminating Co Kimberly Beckett (757) 599-0889Commonwealth Exterminating Johnny Newell (757)873-2030Comparity LLC Michael Vernon (757) 333-0705Cox Communications Misty Pritchett (757) 222-8394Creative Chameleon Media Karen D Lawson (804) 694-7586ET Lawson amp Son Inc Nancy L Allen (757) 722-1928Fidelity Bank Mortgage Nina C Efird (757) 597-0431First American Home Buyers Pro Jamie Cook (757) 390-8785Flemings Awards amp Promotional Fleming A Buck (757) 229-5688Fulton Mortgage Company Ryan Mutter (757) 223-4330HMS Home Warranty Amy Holloway (757) 472-5602Home Title of Virginia LLC Peggy H Truitt (757) 599-4663Home Warranty of America Tina Carneal-Flowers (757) 675-1185Johnson Mortgage Company LLC Allen Barber (757) 873-1287Jones Blechman Woltz amp Kelly Herbert Kelly Esq (757) 873-8000Kaufman amp Canoles PC Mark A Short (757) 873-6351Langley Federal Credit Union Tammy Gelles (757) 827-7200Liberty Title amp Escrow Michael Hamar (757)926-5255Lytle Law PC Brian D Lytle (757) 595-5655Lytle Title amp Escrow LLC Heather Fuller (757) 643-7899Mares Exterminating Co LLC Thomas Mares (757) 868-4898Miller Walsh Kutz amp Laster PLC Julianne Cyr (757) 595-0123Monarch Mortgage Andrew Jordan (757) 870-5445D Wayne Moore Esq (757) 873-7700
Please join us in supporting our Affiliate Members by contacting them today Become an Affiliate here
Movement Mortgage David Wright (757) 717-0248NARPM Peninsula Chapter Russ Skidmore (757) 715-3070National Exterminating Co Phillip Burke (757) 599-3621Navy Federal Credit Union Karen Arient (877) 573-2324 ext21237Old Point Mortgage LLC Sherry Thacker (757) 591-5847Old Republic Home Protection Brett Cole (703) 217-8848OVM Financial Inc Chip Simkins (757) 713-2600Peerless Carpet amp Restoration Rebecca Shultz (757)847-6300Peninsula Title Company Robin B McArthur (757) 595-2536PESTOUT Glen Workman (757) 223-9902PFG Insurance amp Benefits Derry Haywood (757) 873-4508Pillar to Post Home Inspection Cathi Lynch (757) 870-4073PNC Mortgage Elyse Callaway (757) 599-6882PrimeLending Mike Hartnett (757) 368-9910Prof Termite amp Moisture Control Patrick Rogan (757) 599-3167Prospect Mortgage Ilonka Avila (757) 873-4728Prosperity Mortgage Kevin Hull (757) 490-9200Pro-Tech Exterminating Inc Bob Herget (757) 224-1339REIN Joan Griffey (757) 531-7900Reliance Pest amp TermiteInc Wayne Kessinger (757) 485-5005Servpro of Hampton Missy Burns (757) 825-9700ServiceLink Raquel Linger (757)254-8352Staged 2 Sell Therese Robinson (757) 344-5322Suntrust Mortgage Corporation Tricia Gentry (757) 873-7920Terry Peterson Residential John Peterson (757) 460-1770The Closers of Virginia Inc Bella Trowbridge (757) 595-4707The Real Estate Book Bill McFall (757) 873-6731Tidewater Home Funding Gee Horton (757) 757-223-9494Tidewater Mortgage Services Bob Teravainen (757) 594-6165TowneBank Mortgage Shirley Sasser (757) 687-5000US Inspect Inc Kevin Salva (757) 254-2960Universal Pest amp Termite Inc George Pilkington (757) 502-0200VA Housing Development Authority Janice Burgess (800) 227-8432VA Peninsula Chamber of Commerce Mike Kuhns (757) 325-8170Virtual Tidewater Rosalind Boyle (757) 880-6422Wells Fargo Home Mortgage Teresa Rutherford (757) 873-3308
PeninsulaREALTORreg Jan - Feb 2016page 5
And Then Some
We do more than sell houses We do more than guide our clients and custom-ers through the intricacies of the home buying or selling process We do more than is required of us by state and national statute As REALTORSreg we do these thing and then some I have been reminded of this often over the past month
On February 2 the VAR Roadshow visited the VPAR building No song and dance this The Roadshow is a required Code of Ethics and procedures update for Associa-tion Board and Professional Standards Committee members At VPAR this is an annual requirement The Code and itrsquos enforcement is among the things that set Realtors apart from other licensees
At the VAR Legislative Conference in Richmond we were reminded of the importance of our RPAC investment and the positive effects it has on legislation that best serves not only us but home-owners buyers and sellers I was pleased and proud to join in being presented the ldquoTriple Crownrdquo trophy for meeting and exceeding our 2015 goals for participa-tion dollars raised and number of major
donors Thanks are due to 2015 Presi-dent Dewey Hutchins and RPAC chair Carla Carney for a job well done Among the fruits of our efforts is the ear and sup-port of our local General Assembly delega-tion who met with us in their offices and at a reception that was also attended by Governor McAuliffe
On February 23 we welcomed more than two dozen new members to VPAR They learned and I was reminded about the myriad of resources that are available to each of us from VPAR VAR and NAR I encourage you to take advantage of them
Finally take a look at our VPAR partners and affiliates Their involvement with the Association allows us to make more programs and educational opportunities available to us When you see them please thank them and if they provide a service that you can use please keep them in mind
Happy selling
Presidentrsquos Messageby Andy COHEN 2016 VPAR President
PeninsulaREALTORreg Jan - Feb 2016page 6
PeninsulaREALTORreg Membership By Cindy Anderson Director of Membership
WELCOME NEW REALTORSregClinton Allen Rose amp Womble Realty Company James Beal Abbitt Realty Company LLC
Charles Blount Preferred Properties Kim Borum Berkshire Hathaway HomeServices Towne Mindy Bowman Abbitt Realty Co LLC Benjamin Canty greg garrett realtycom
Monteiro Chamblee Willow Beach Real Estate LLC Shirley Charles greg garrett realtycomLelani Clayton Coldwell Banker Traditions John Gorman Keller Williams Elite - Pen
Marcela Graham Mid-Atlantic Residential Michelle Guthrie REMAX CapitalJillian Hooper Rose amp Womble Realty Company Ashley Horak Keller Williams Elite - Pen
Tresa Maynor Mid-Atlantic Residential Kathleen McKone Rose amp Womble Realty CompanyRebecca Montreuil-Silvis EXIT Real Estate Solutions Beth Posada Keller Williams Elite - Pen
Valerie Shelton Keller Williams Elite - Pen Ronnie Snipes Keller Williams Elite - PenJulie Strelow Fathom Realty Daniel Zarkowski Abbitt Realty Co LLC
RECENT TRANSFERSMaria Araiza Howard Hanna-William E Wood Edward V Bond Howard Hanna - William E Wood
Nancy S Bonnema Berkshire Hathaway HomeServices Towne RealtyChiffon Bradshaw Willow Beach Real Estate LLC Sammie Buckhanon Keller Williams Elite - Pen
Victoria Burland Brian F Saunders amp Associates Tracie Burton Keller Williams Elite - PenDeborah Eggers Keller Williams Elite - Pen Kimberly Gonzalez Keller Williams Elite - Pen
Sabrina Hack Keller Williams Elite - Pen Sabrina Hite REMAX PeninsulaKim Hoskins Keller Williams Elite - Pen Jessica Lucas Keller Williams Elite - Pen
Jon E May Fathom Realty Lorri McDonald Keller Williams Elite - PenKristi McKittrick Rose and Womble LLC Pamela Murphy ERA Real Estate Professionals
Jake OrsquoBryan Abbitt Realty Co LLC Tracy Prince Keller Williams Elite - PenPatsy G Sheppard Keller Williams Elite - Pen Carol A Sobieski CENTURY 21 Nachman Realty
David Tortolini Keller Williams Elite - PenRay Upright Howard Hanna - William E Wood Rachael Ward Brian F Saunders amp Associates
WELCOME NEW AFFILIATES Christopeher Walker CCW Construction
Michael Vernon Comparity LLC Sherry Thacker Old Point Mortgage LLC
adapted homes for severely injured post-911 veterans Each home is built with features that accommodate the needs of the veteran and offered mortgage-free so that the veteran can focus on recovery and rebuilding a healthy life Operating for 11 years Homes for Our Troops has built over 190 homes across the United States and currently has five projects underway in Virginia The organization is top-rated for financial stewardship and operations and works carefully with each veteran on homeownership readiness and responsibility
In August 2015 the Virginia Association of REALTORSreg became a regional corpo-rate partner of Homes for Our Troops in a lasting commitment to the housing needs of Virginia veteran and military families With hundreds of contributors and over $60000 in the first few months of part-nership REALTORSreg across the state are engaged in supporting the projects underway and the veterans in their com-munities
One of the first homes that Virginia REAL-TORSreg and HFOT built is located in York County The event during which the key is presented to the injured veteran will be held on March 6 2016 VPAR has been conducting outreach to area elected of-ficials inviting them to attend this special morning VPAR members can learn more details by visiting httpswwwhfotusaorgslate
PeninsulaREALTORreg Jan - Feb 2016page 7
The PeninsulaMonitor by Susan Gaston LEGISLATIVE CONSULTANT
Monthly Public Policy Report
ldquoTHE MONITORrdquo February 2016
Local Issues
Newport NewsVPAR is coordinating with the Wason Center for Public Policy at Christopher Newport University regard-ing public dissemination and media po-tential for the recently produced housing needs study and market needs analysis The study is a resource to the decision makers in the region particularly in the City and we want to position the Associa-tion as a leading organization in formulat-ing future housing policy
PoquosonMark your calendars for Friday May 6th The City is hosting its annual Residential REALTORreg Day where VPAR members can hear from City leaders tour the ldquoBull Islandrdquo and have a Fun Friday Been there done that Donrsquot worry VPAR is work-ing with the City to reformat the popular event so that it is new to even repeat at-tendees More to comehellip
York County Last year the Virginia Association of RE-ALTORSreg (VAR) partnered with Homes for our Troops (HFOT) a national non-profit organization that builds specially
Regional Issues
Local voters will go to the polls in Hamp-ton and Newport News on Tuesday May 3rd Hampton elections will include voting for Mayor and three At-Large City Council seats with Mayor George Wal-lace and Council Members Linda Curtis Billy Hobbs and Chris Snead all seeking re-election Other candidates likely will be coming forward before the March 15th filing deadline
In Newport News three incumbents will be seeking re-election to City Council In the Central District incumbent Pat Wood-bury will be challenged by Mike Mullin Councilman Rob Coleman in the North District currently is running unopposed as is South District Councilwoman Tina Vick
VPARrsquos Public Policy Committee will be conducting candidate interviews for the purposes of endorsing pro-housing pro-business candidates and supporting their campaigns with funds from the REAL-TORSreg Political Action Committee (RPAC) of Virginia
State Issues
At the time of this writing the 2016 General Assembly Session has reached the halfway mark and is in the final two weeks of legislative work REALTORreg bills are in strong shape as the House and
Senate finalize committee action
HB 577AgencyLicensing Law Revisions Passed the House 97-0 020316Passed the Senate 40-0 022516On Governorrsquos Deskhttplisvirginiagovcgi-binlegp604exe161+ful+HB567+pdf
HB 577 InterpleaderEscrow Accounts Passed the House 98-0 020216Reported from Senate Courts of Justice Committee 022416httplisvirginiagovcgi-binlegp604exe161+ful+HB577+pdf
HB 684POACOA Amendments Passed the House 99-0 021016Reported from the Senate General Laws amp Technology Committee 15-0 022216httplisvirginiagovcgi-binlegp604exe161+ful+HB684+pdf
SB 453Licensing of Home Inspectors Passed the Senate 30-9 012916Passed the House 100-0 022216On Governorrsquos Deskhttplisvirginiagovcgi-binlegp604exe161+ful+SB453+pdf
A more detailed legislative report will be forthcoming as more bills report out of Committee and move off of the floors
PeninsulaREALTORreg Jan - Feb 2016page 8
The PeninsulaMonitor Continues
PeninsulaREALTORreg Jan - Feb 2016page 9
2016 REALTOR Day on the HillRichmond VA
Virginia Peninsula Association of REALTORSawarded the 2015 RPAC Triple Crown
at the RPAC Awards Ceremony
Recognized for Meeting amp Exceeding2015 RPAC Fundrasing Goal
2015 RPAC Participation Goal2015 Major Investor Goal
Shown accepting award Dewey Hutchins 2015 President Carla Carney 2015 RPAC Chair Karla Grase RPAC Vice Chair Andy Cohen 2016 President Jim Wetzel CEO and
Bill White 2016 VAR President
PeninsulaREALTORreg Jan - Feb 2016page 10
The PeninsulaMarket by the Virginia Association of REALTORSreg
January 2016 Homes Sales Report Steady start to the Virginia housing market in new year - Median sales price up more
than 3 percent YOY - January 2016 residential real estate sales top $174 billionAccording to the Virginia Association of REALTORSreg (VAR) January 2016 Home Sales Report residential real estate sales in the first month of the year reflected typical indus-try seasonality Historically January is the slowest month for home sales and this year was particularly affected by a catastrophic winter weather event Despite significant disruption to market activity from Winter Storm Jonas volume declined by less than one percent year-over-year remaining near static with January 2015 Median sales price rose year-over-year contributing to a higher total transaction value than January 2015 The value of transactions in January 2016 exceeded $174 billion an outperformance of the same month last year despite near even sales numbers Median sales price for Janu-ary 2015 rose 326 percent from the same period last year from $237750 to $245500 and more than 7 percent from January 2014 ($228380) Year-over-year elevation indi-cates sustainable market improvement Read the full report here
PeninsulaREALTORreg Jan - Feb 2016page 11
Federal Issues
NAR TESTIFIES ON VETERANSrsquo HOUSING
On Feb 10 NAR 2016 Vice President Sherri Meadows testified before the House Veterans Affairs Subcommittee on Economic Opportunity at a hearing entitled ldquoA Review of VArsquos Loan Guaranty and Specially Adaptive Housing Grant Programs (SAH)rdquo The testimony focused on long-term REALTORreg support for the VA home loan guaranty and the benefits it provides our nationrsquos veterans According to the 2015 NAR Homebuyer and Seller Survey one in five buyers was a veteran or active duty service member NAR recommends all REALTORSreg ask their clients if they have ever served as this program provides zero-downpayment loans and favorable terms to eligible veterans
In the testimony Meadows asked for three enhancements to the program to make it even more useful for veterans 1) increase the loan limits for VA VA is not just another loan program - itrsquos an entitlement Veterans should not be prohibited from using their guaranty in high cost areas 2) ease restrictions on what the veteran can pay in the mortgage transactions Veterans are often disadvantaged when bidding on a home due to their inability to negotiate certain fees and 3) incentivize lenders to offer
an FHA 203k-type product for veterans This type of loan includes the costs of rehabilitation and repairs and could allow veterans better access to homes that need some work
NAR also supported increasing efficiency in the specially-adapted housing (SAH) grant programs and urged the Committee to make the VA loan as useful as possible for all our nationrsquos veterans so it may be a real benefit to those who have so bravely served our country
Watch the video here httpswwwyoutubecomwatchv=VW_srZ1yUcw
HOUSE PASSES VA LOAN BILL
In early February the House of Representatives passed legislation which included a provision to eliminate the cap on VA loan limits The bill HR 3016 ldquoVeterans Employment Education and Healthcare Improvement Actrdquo sponsored by Rep Wenstrup (R-OH) included an amendment added by Rep Zeldin (R-NY) in Committee that would allow veterans to purchase a home in high cost areas by eliminating the maximum loan amount on VA loans As stated in the accompanying report ldquoThe Committee is confident VArsquos current strict underwriting standards and low foreclosure rates will ensure that veterans still have the required good credit and income to qualify for the loan and that this change will not
PeninsulaREALTORreg Jan - Feb 2016page 12
The PeninsulaMonitor continued
PeninsulaREALTORreg Jan - Feb 2016page 13
result in a significant increased amount of foreclosuresrdquo NAR has long supported the VA home loan guaranty program and believes that as an entitlement program our nationrsquos veterans should have the freedom to purchase a home wherever they choose to live
Should you have questions on these or other issues or for additional details please contact Susan Gaston VPARrsquos Legislative Consultant at 757-871-1445 or at susangastongroupcom
PeninsulaREALTORreg Jan - Feb 2016page 14
The PeninsulaMonitor continued
Commuting Costs Important to Home Buyers
Even with plunging gas prices the cost of commuting to and from the office can be pricey (as well as stressful) But how much does that commute play into the homebuying process According to research from the National Association of REALTORSreg commuting costs defi-nitely come into play in searching for and purchasing that dream home in fact 30 percent of homebuyers purchased homes last year to cut down on commut-ing costsmdasha factor they cited as ldquovery importantrdquo Additionally 64 percent of buyers bought their home in part because it was convenient to their job this was so important that 23 percent of those buyers said they compromised on the price of their home to be physi-cally closer to work mak-ing more time for the other important things in their life such as spending time with friends and family
Take a look at NARrsquos 2015 Profile of Home Buyers and Sellers Read more about this topic on NARrsquos Econo-mistsrsquo Outlook blog
The PeninsulaMarket Tips
PeninsulaREALTORreg Jan - Feb 2016page 15
REALTORSreg amp RESPA
Are Realtors Getting Reli-gion
Most Realtors are aware of the anti-kick-back provi-sions of the
Real Estate Settlement Procedures Act ldquoNo man shall giveth Yea neither shall he receiveth any thing of value to God or Mammon pursuant to any covenant under the heavens that calleth for referrals of settlement servicesrdquo Book of RESPA 84
This well-known proverb articulates the received wisdom of Congress that refer-ral fees unnecessarily add to the cost of settlements and thus make housing less affordable for Godrsquos children Not every-one agrees however RESPA expert Phillip Schulman for instance has articulated a three-part test to determine the legality of any particular activity under RESPA First Does the activity make business sense that is does it tend to increase efficiency decrease waste and lower costs Second Does the activity benefit the parties to the transaction (here the brokers borrowers buyers and sellers) And finally Would the activity be permitted in almost any
other arena of commerce as accepted and ethical business practice If the answer to all three questions is yes then the activity says Schulman is almost certainly illegal under RESPA
The essence of Section 8 of RESPA seems to be that while the business expense of a targeted and highly effective referral fee paid by a lender to a referral source must be recovered by the lender in the form of higher loan costs the highly inefficient ad-vertising that replaces the referral source does not You can decide what to make of that argument
However we have to live with the RE-SPA prohibition against paid referrals as valueless acts that serve only to drive up costs But even RESPA acknowledges that it is legal to be paid for services actually performed up to the value of the services if the services are not referrals (which by definition have no value) And it is legal to refer business to an entity of which you are an owner as long as your compen-sation is based on your profit from the entity and not linked to the referral per se And thereon hangs an interesting tale
Lenders and other settlement service pro-viders long ago discovered that offering a piece of the pie to sources of referrals made good business sense Thus we have seen a proliferation of real estate broker-
Risk ManagementREALTORSreg and RESPAby Blake Hegeman CAE Deputy General Counsel
PeninsulaREALTORreg Jan - Feb 2016page 16
Risk ManagementREALTORSreg and RESPAby Blake Hegeman CAE Deputy General
lender lender-title company broker-settlement agency joint ventures over the years These couplings make great sense and afford the participants incentives to refer business to the joint venture partner This type of relationship does not violate RESPA if the benefit accruing to the referral source is strictly according to ownership interest in the benefited entity and the consumer to whom a referral is made is given the RESPA Miranda warning ndash basically that the person making the referral may benefit from it that the service will cost a certain amount and that the consumer might find the service cheaper elsewhere These relationships are legal and ethical and can be quite beneficial
Now because RESPA permits service pro-viders to pay for service actually performed some have tried ndash with varying degrees of
success ndash to skirt RESPA by paying more than the service is worth or for duplicative efforts or even for only nominal ndash or no -- service These ldquodisguisedrdquo referral fees are illegal and much despised by HUD who seeketh after them like the righteous man seeketh after salvation
That brings us to a more recent phenom-enon the efforts of some mortgage brokers and lenders to avoid the strictures of RESPA by hiring referral sources as employees and paying them for work they do as employees Of course much or all of that work will be for clients referred by the employee but if the employeremployee relationship is bona fide and the salary is for -- and commen-surate with -- services actually performed the relationship can be legal Itrsquos likely that HUD will apply something like the IRS test to determine whether the employee really is an employee and virtually everyone acknowledges that merely giving the ldquoem-ployeerdquo a W-2 and calling her an employee will not be enough
PeninsulaREALTORreg Jan - Feb 2016page 17
Risk ManagementREALTORSreg and RESPAby Blake Hegeman CAE Deputy General
We also need to be aware of another limita-tion imposed by Virginia law even when the labyrinth of RESPA has been negotiated The Virginia Mortgage Lender and Bro-ker Act provides in Section 61-422 that a person may not receive a fee as a mortgage broker and a real estate broker for services performed in the same transaction unless the person was licensed and regularly engaged in mortgage brokerage in Virginia as of Feb-ruary 1989 This resolution of a turf battle between mortgage and real estate brokers was weakened by a provision permitting real estate brokers (but not salespersons) who are owners of a real estate firm to own
an interest in a mortgage lender or broker and to profit from such investment and be compensated for services actually performed for those entities But the prohibition on dual brokerage fees to non-grandfathered persons persists
These are only a few examples from the veritable patchwork quilt of efforts to overcome RESPArsquos prohibition on referral fees Perhaps what Realtors need most to be aware of is that HUD approaches what it sees as RESPA violations with a fervent zeal displayed few other places If you are look-ing for a way to receive a fee for referring settlement business look for another way to make a buck If yoursquore willing to work le-gitimately for a service provider and get paid for the value of what you do -- and no more ndash there are opportunities out there awaiting
NEW Womens Council of REALTORSreg Coastal Chapter at VPAR
PeninsulaREALTORreg Jan - Feb 2016page 18
PeninsulaREALTORreg UPCOMING EVENTSby Jo McNamara Daly Director of education and events
Save The Dates
March 5th - OSC Awards Banquet at City Center
March 22nd - Lunch amp Learn SEO
April 12th - VRLTA Seminar with Chip Dicks
April 19th - General Membership Meeting at VPAR
May 9th - 14th - NAR Legisilative Conference in DC
PeninsulaREALTORreg Jan - Feb 2016page 19
Ready To Get StartedCONTACT ATLANTIC BAY TODAY
For examplehellip A borrower age 72 with a purchase price of $200000 would require ONLY $92000 at closing for the Reverse Mortgage
Homeowner continues to pay insurance and property taxes live in and maintain home Home must be primary residence Program not currently available in all states People portrayed are professional models and are used for illustrative purposes only Terms and conditions subject to change without notice Consult your tax advisor before choosing a reverse mortgage
Clients Mustbull Be 62 or older to qualify (at least one person-can have younger spouse as non-borrower to
qualify)
bull Own your home outright (or have a low mortgage balance that can be paid off at closing with proceeds from the reverse loan or have a large down payment to purchase)
bull Have the financial resources to pay ongoing property charges including taxes and insurance
bull Live in the home
You donrsquot make payments while you live in the house but the loan and interest come due when you sell move out for 12 months or more or last person leaves the house permanently
DAWN ST CLAIR PHILLIPSSr Mortgage BankerNMLS 115936757-715-5733dawnphillipsatlanticbaycomatlanticbaycomdawnphillipscom
Did you knowYOU CAN USE A REVERSE MORTGAGE TO PURCHASE A HOME
ARE YOU CONSIDERING MOVING CLOSER TO YOUR FAMILY OR DOWNSIZING TO A HOME THAT BETTER SUITS YOUR NEEDSOR LOOKING TO STAY IN YOUR HOME AND NEED ADDITIONAL INCOME
PeninsulaREALTORreg Jan - Feb 2016page 20
PeninsulaREALTORreg Jan - Feb 2016page 21
PeninsulaREALTORreg Jan - Feb 2016page 22
The PeninsulaRealEstateSchoolby Jo Mcnamara Daly Director of Education amp Events
2016 Continuing Education Classes Location
VPAR Building 1001 North Campus Parkway
Hampton VA 23666 757-599-5222
Payment MUST be made at time of registration Register online at membersvparorg and click on Member Service Center to login or complete this form and fax to 757-596-3911 or email to jovparorg VPAR reserves the right to cancel a class if less than 10 people are registered 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 12 Tuesday July 12 Tuesday Feb 9 Tuesday Aug 9 Tuesday Mar 8 Tuesday Sept 13 Tuesday Apr 5 Tuesday Oct 11 Tuesday May 10 Tuesday Nov 8 Tuesday June 21 Tuesday Dec 6
All 8 Hour Classes are from 830 ammdash530 pm
Code of Ethics (Meets NAR Quadrennial Requirements) amp Code of Conduct
Fair Housing Legal Updates amp Emerging Trends (Law) Flood Insurance amp Flood Map Instruction Real Estate Contracts Real Estate Agency
8-HR Elective CE Class Dates
Thursday Feb 16 Tuesday Sept 20 Tuesday May 17 Tuesday Nov 15
Anti-Trust Disclosures Professionalism Safety Do-Nots
3-HR Code of Ethics Course
Thursday November 3rd from 1ndash 4 pm Thursday December 8th from 1-4 pm
More dates to be added soon Meets NAR Quadrennial Requirements
Peninsula Real Estate School owned and operated by
Virginia Peninsula Association of REALTORSreg
Registration Form
Name Company Address City State Zip Phone Email License ______ Exp Date _
Method of Payment
Check Invoice Office Visa MasterCard AMX Discover Card Name on Card ____________________________ Credit Card _____ Exp Date Signature _____ Name on Card _________________________ Amount Due (check appropriate box) 8-Hour Course VPAR Member $50 8-Hour Course Non-Member $60 3-Hour Ethics Course VPAR Member $30 3-Hour Ethics Course VPAR Non-Member $35
PeninsulaREALTORreg Jan - Feb 2016page 23
Chip Dicks VAR Legislative
Counsel
The Virginia Peninsula Association of REALTORSreg in cooperation with
The Virginia Association of REALTORSreg presentshellip
VRLTA Update with Chip Dicks
Get the information you need on the updatedVirginia Residential Landlord Tenant Act
Tuesday April 12th 2016 900 am ndash 400 pm
_________________
$12500 per member $13000 per non-member
Virginia Peninsula Association of REALTORSreg 1001 North Campus Parkway Hampton 23666
Sponsor LUNCH INCLUDED
VRLTA Update with Chip Dicks ndash April 12th 2016Pending REB Approval for 3 Hours Legal Update amp 3 Hours Real Estate Related CE
Pending REB Approval for 2 Hours of Current Industry IssuesTrends Course will be submitted for approval at the end of the general assembly session to include anyall changes in the VRLTA
NAME FIRM
ADDRESS
CITY STATE ZIP
PHONE E-MAIL
Method of PaymentCheck ____ Visa MasterCard____ Discover___ AMX____
Credit Card Exp date
Signature(Your signature indicates acceptance of VPAR registration policy and authorization of credit card charges)
Name on credit card_______________________________________
PLEASE RETURN TO VPAR AT FAX NUMBER 757-596-3911 MAIL TO VPAR 1001 North Campus Parkway Hampton VA 23666 or register online at membersvparorg
QUESTIONS CALL 757-599-5222Cancellations must be received within 48 hours of the event to receive full refund On-site registration fee is $135 Please notify us in advance if you have a disability that requires special services
bull Get up to speed on the recent changes to the Virginia Residential Landlord and Tenant Act
bull Designed for both real estate brokers and sales persons this course offers a detailed review of lease applications
bull A ldquohow tordquo guide for broker agent compliance bull The awareness and information you need to protect your
business
Approved for
6 hrs CE and 2 hrs PL Credit
PeninsulaREALTORreg Jan - Feb 2016page 24
REINMLScom ndash A Valuable Member Resource
This year REIN unveiled a new and improved REINMLScom website If you havenrsquot logged in yet please be sure to do so and take advantage of all the site has to offer
If you have never been to REINrsquos member website and are wondering what it offers think of it as a ldquohubrdquo to all things REIN‐related From REINMLScom you can access Fusion and Matrix find market statistics and graphs the current monthrsquos training calendar PDF copies of REINrsquos contracts and forms and much more You can even access your membership account to review and pay invoices online
The new mobile friendly website offers you a fresh look eye‐catching graphics and improved navigation that makes information easy to find Plus two great new featureshellip
A lsquoSYSTEM STATUSrsquo section has been added to the home page of the website to identify when REINrsquos MLS systems and programs are experiencing known issues such as updates service interruptions or down time
The second new feature is lsquoASK REINrsquo ndash a robust technical support module ASK REIN allows you to search online documentation that can help you troubleshoot commonly asked technical questions and if you canrsquot find the answers you are searching for then you can lsquoSubmit a Support Requestrsquo to REINrsquos Tech Support Department directly from the website
To access the full benefits of REINMLScom members must log into the site using their REIN ID and a password If you have not already done so please establish a password for this website by clicking on lsquoChangeForgot Passwordrsquo located next to the green Log In button in the top right corner of the screen Then check your email for a link to reset your password If you still cannot log into the site please contact REINrsquos Tech Support at 7575317901 or supportreininccom
Check it out today wwwREINMLScom
PeninsulaREALTORreg Jan - Feb 2016page 25
Scenes From Our January Social At BJrsquos at Tech Center amp February at UNOrsquos
THANKS TO OUR ALL SPONSORS MARES Exterminating AT BJrsquos andFidelity Bank Mortgage at UnOrsquos
Vpar SOCIAL HAPPENINGS
PeninsulaREALTORreg Jan - Feb 2016page 26
The Virginia Peninsula Association of REALTORSreg presentshellip
The Accredited Buyer Representative Designation
(Approved for 13HRS CE credit)
Instructor Pat Snyder
Accredited Buyer Representative Designation Course ndash April 7 amp 8 2016
NAME FIRM
ADDRESS MEMBER
CITY STATE ZIP
PHONE E-MAIL
Method of Payment Check
Credit Card Exp date
Signature (Your signature indicates acceptance of VPAR registration policy and authorization of credit card charges) Real Estate License Exp date
PLEASE RETURN TO VPAR AT FAX NUMBER 757-596-3911 MAIL TO VPAR 1001 North Campus Parkway Hampton VA 23666 or register online at membersvparorg
QUESTIONS CALL 757-599-5222 Cancellations must be received within 48- business hours of course to receive a refund Registrations are
non-transferable On-site late registration fee is $325 VPAR RESERVES THE RIGHT TO CANCEL THE COURSE IF MINIMUM REGISTRATIONS ARE NOT MET
Please notify us in advance if you have a disability that requires special services
Thursday amp Friday April 7 amp 8 2016 830 am ndash 500 pm
APRIL IS A SPECIAL DISCOUNT MONTH (REGULAR MEMBER RATE IS $295)
VPAR Headquarters Training Room A 1001 North Campus Parkway Hampton VA 23666 Early Bird Pricing before April 1 by NOON
Members $255 Non-Members $275
Register after Members $275 Non-Members $300
On-site registration fee is $325
PeninsulaREALTORreg Jan - Feb 2016page 27
VPAR Peninsula Partners include the following loyal firms who have stepped up to support VPARevents and education throughout the year This program reflects a commitment to provide REALTORreg
members with the best business environment while connecting to industry professionals whoprovide valuable products and services It is designed to create a unique partnership between
sponsors and the Association where both members and sponsors benefit greatly through the abilityto network exchange ideas and conduct business
PeninsulaREALTORreg Jan - Feb 2016page 28
VPAR Members Supporting Our Communities atThe Poquoson Neighborhood Food Distribution
for the Peninsula Food Bank
PeninsulaREALTORreg Jan - Feb 2016page 29
CONTACT A LOCAL LOAN OFFICER AT 1-877-573-2324gt KIMBERLY CRESS EXT 21238gt LASHEKA PEARSON-PARKER EXT 21210gt NATASHA THOMAS EXT 21104
Federally insured by NCUA 100 financing loans include an additional funding fee which may be financed up to the maximum loan amount Product features subject to approval copy 2016 Navy Federal NFCU 13490 (2-16)
THEYrsquoLL ENJOY
gt no application feegt 100 financing optionsgt up to 6 seller contribution allowed
HELP YOUR CLIENTS UNLOCK THE DOOR TO THEIR FIRST HOME
13490_Peninsula_Realtor_Mag_Ad_2_162indd 1 2416 202 PM
PeninsulaREALTORreg Jan - Feb 2016page 30
smile you can have 2-10 Home Buyers Warrantyreg
on your team with our industry leading Home
Warranty Service Agreement
bull Over 55 million homes protected
bull Over 975 of claims paid
bull A Rating with the Better Business Bureau (BBB)
Carolyn Ricketts Account Executive5716068051| cricketts2-10com
Defeated a 500 Increase We helped to defeat a budget amendment that would have increased the deductible that property owners including
YOUR clients pay to have their leaking underground oil tanks cleaned up and repaired by 500 The current $500 deductible was proposed to go up to $2500
The petroleum tank increase was a budget amendment
Prison time 1 to 6 years We added a felony charge to any criminal who lures or entices a REALTORreg to a property with the intent to do harm
The added felony will increase a criminalrsquos sentence by up to 6 years The 1-6 years are the statutory sentencing guidelines
Save $150 - $500hr on attorneysrsquo fees We continued to refine legislation that allows property managers to represent your clients in General District court
without needing an attorney So how much would your attorney charge per hour Typically attorney fees range from $150 - $500hr
$12000 back to consumers Under a new law that VAR drafted we have made it easier for Virginia consumers who have received a court judgment to
collect damages from the Real Estate Transaction Recovery Fund The average claim is approximately $12000 The $12000 figure is an estimate by the DPOR finance staff on the average claim that comes before the Board
Wiped out $200per Sign Fines We worked with a state legislator to prevent a proposal creating daily fines of $200 for any sign in any public right of
way How often do you use such signs for your listings 10 days for 1 sign = $2000 The $200 per sign was the language in the proposed bill VAR was able to stop
Keep RPAC of Virginia working for you Without your support RPAC cannot remain a powerful voice on key legislative issues Your dollars help us make our voice heard
Visit VirginiaRealtorsChoosecom
RPAC of VIRGINIA VICTORIES BY THE NUMBER$
RPAC makes a difference Just look at the numbers
PeninsulaREALTORreg Jan - Feb 2016page 32
January 2016 Virginia residential real estate sales showed typical industry seasonality January tends to be the slowest month for home sales and this year was particularly affected by catastrophic Winter Storm Jonas In spite of blizzard conditions that halted market activity for several days sales volume was nearly on par with the same month last year The value of transactions in January 2016 exceeded $174 billion an out performance of the previous January Median sales price rose 326 percent year-over-year and more than 7 per-cent from January 2014 Year-over-year elevation indicates sustainable market improvement Click here for the complete report httptinyurlcomj7k254s
Full service marketing amp innovative mobile platformsall designed with your business in mind
NMLS 176544 Member FDIC
MonarchWhere homebuying dreams take flight
PeninsulaREALTORreg Jan - Feb 2016page 33
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAIL
Featuring250 characters25 per lineEast WilmingtonRutherford Grand LakesArington Hills CoolidgeElrot Florence GilbertGold Canyon King andQueen Cedar CrestBristol Newport JacksonMadison ElbertvilleBarrowALL ACROSS NORTH AMERICA
THERealEstateBookreg
Volume 00 Issue 00
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAILTo see a sample listing on your smartphone Text T312634 to 85377
Learn more at RealEstateBookMediaKitcomFor FREE MAGAZINES or to ADVERTISE visit our website or call 800-841-3401
Bill McFallMarket Representative
The Market Leader in Hampton Roads VA amp North America
780 Pilot House Drive Building 400B Newport News VA 23606
office 757-873-6731 bull cell 757-286-6731 bull fax 757-273-8275email billmcfallcoxnet
wwwRealEstateBookHRcom
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Interested in advertising your company Click here for our 2016 Adverstising Information
or call us at 757-599-5222 today
PeninsulaREALTORreg Jan - Feb 2016page 34
The PeninsulaPerspective by Jim Wetzel RCE CEO
Nobody will ever deprive the American people of the right to vote except the American people themselves and the only way they could do this is by not voting
Franklin D Roosevelt
This past week I was honored to attend our REALTOR Legislative Meetings in Richmond VA together with our members arriving from all corners of the commonwealth We arrived with a common mission of taking our message to our legislators on the many ways we can improve the real estate industry and homeownership opportunities in our communities
With pride our members spoke of the improvements in the real estate indus-
try over the past year and highlighted our recommendations on how together REALTORS and our legislative partners can make things even better in the years ahead We highlighted important chang-es that we felt would make not only the industry better but the lives of all who call Virginia their home
We spoke together and our legislators listened We made a difference
On March 1st the process of selecting our next President of the United States begins We have listened to the debates been inundated by the media heard from the political commentators and heard the endorsements
Now it is time for us to speak We can make a difference one vote at a time
PeninsulaREALTORreg Jan - Feb 2016page 35
PeninsulaREALTORreg Jan - Feb 2016page 3
Publication EditorJim Wetzel RCE
Chief Executive OfficerVirginia Peninsula Association of REALTORSreg
1001 North Campus ParkwayHampton VA 23666
t (757) 599-5222f 757-596-3911
jimwetzelvparorg
Cindy AndersonDirector of Member Services
Jo McNamara DalyEducation Director amp Event Planner
PeninsulaREALTORreg is published monthly by Virginia Peninsula Association of REALTORSreg as a
service to its membership
Virginia Peninsula Association of REALTORSreg ldquoThe Voice for Real Estatetrade on the Virginia Pen-
insulardquo is your local association of REALTORSreg representing over 1000 local REALTORreg members
and affiliates
As members of Americarsquos largest trade association The National Association of REALTORSreg together we represent over 11 million members including NARrsquos institutes societies and councils involved in all aspects of the residential and commercial real
estate industries
Our membership is composed of residential and commercial REALTORSreg who are brokers sales-people property managers appraisers counselors and others engaged in all aspects of the real estate
industry
The term REALTORreg is a registered collective membership mark that identifies a real estate
professional who is a member of the National Asso-ciation of REALTORSreg and subscribes to its strict
Code of Ethics
COVER PHOTOVPAR Members promote REALTOR Careers at
Local Community Career Fairs
PeninsulaREALTORregDigital Magazine
The Official Publication of the Virginia Peninsula
Association of REALTORSreg2016 Officers amp Directors
PresidentAndy Cohen
President-ElectChandra Patterson
TreasurerCarl Burt
Immediate Past PresidentDewey Hutchins
Directors Stephen AbbittSandra Hood
Eugenia JacksonLindsay Pennington
Crystal Sullivan Robert ldquoSullyrdquo Sullivan
Amanda Walsh Patierno CEO
Jim Wetzel RCE
Advertising PolicyWhile this magazine makes reasonable effort to establish the integrity of its advertisers it does not endorse adver-tised products or services unless specifically 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 REALTORreg members member firms affiliate members and non-members Product advertising is limited to resi-dential subdivisions commercial or industrial units and real estate related products and services excluding per-
sonal listingsEqual Opportunity Policy
VPAR is pledged to the letter and spirit of US policy for the achievement of equal housing opportunity The Asso-ciation encourages and supports an affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race color elderliness reli-
gion sex handicap familial status or national originNotice
VPAR does not fix control recommend suggest or main-tain commission rates or fees for services
rendered by cooperating members or non-members
PeninsulaREALTORreg Jan - Feb 2016page 4
PeninsulaAffiliatesof the Virginia Peninsula Association of REALTORSreg
1st Advantage Federal Credit Union Jessica Cecil (757) 877-24442-10 Home Buyers Warranty Carolyn Ricketts (571) 606-8051Alpha Pest Solutions Sindi Rowell (757) 873-4999Amerispec Home Inspection Jamison S Brown (757) 868-0988Atlantic Bay Mortgage Group Kim Niccum (757) 874-6040Bankers Title LLC J Vance Stallings (757) 645-9327BB amp T Mortgage of Virginia Donna Davis (757) 873-6001BridgeTrust Title Group Raynelle Ricks (757) 671-7413CCW Construction Christopher Walker (757) 719-0520CampF Mortgage Mary Rebholz (757) 873-8200Coleman amp Coleman PLC Donnie Coleman (757) 965-8482Coleman World Wide Moving Allied David Carter (757) 827-6225Colonial Exterminating Co Kimberly Beckett (757) 599-0889Commonwealth Exterminating Johnny Newell (757)873-2030Comparity LLC Michael Vernon (757) 333-0705Cox Communications Misty Pritchett (757) 222-8394Creative Chameleon Media Karen D Lawson (804) 694-7586ET Lawson amp Son Inc Nancy L Allen (757) 722-1928Fidelity Bank Mortgage Nina C Efird (757) 597-0431First American Home Buyers Pro Jamie Cook (757) 390-8785Flemings Awards amp Promotional Fleming A Buck (757) 229-5688Fulton Mortgage Company Ryan Mutter (757) 223-4330HMS Home Warranty Amy Holloway (757) 472-5602Home Title of Virginia LLC Peggy H Truitt (757) 599-4663Home Warranty of America Tina Carneal-Flowers (757) 675-1185Johnson Mortgage Company LLC Allen Barber (757) 873-1287Jones Blechman Woltz amp Kelly Herbert Kelly Esq (757) 873-8000Kaufman amp Canoles PC Mark A Short (757) 873-6351Langley Federal Credit Union Tammy Gelles (757) 827-7200Liberty Title amp Escrow Michael Hamar (757)926-5255Lytle Law PC Brian D Lytle (757) 595-5655Lytle Title amp Escrow LLC Heather Fuller (757) 643-7899Mares Exterminating Co LLC Thomas Mares (757) 868-4898Miller Walsh Kutz amp Laster PLC Julianne Cyr (757) 595-0123Monarch Mortgage Andrew Jordan (757) 870-5445D Wayne Moore Esq (757) 873-7700
Please join us in supporting our Affiliate Members by contacting them today Become an Affiliate here
Movement Mortgage David Wright (757) 717-0248NARPM Peninsula Chapter Russ Skidmore (757) 715-3070National Exterminating Co Phillip Burke (757) 599-3621Navy Federal Credit Union Karen Arient (877) 573-2324 ext21237Old Point Mortgage LLC Sherry Thacker (757) 591-5847Old Republic Home Protection Brett Cole (703) 217-8848OVM Financial Inc Chip Simkins (757) 713-2600Peerless Carpet amp Restoration Rebecca Shultz (757)847-6300Peninsula Title Company Robin B McArthur (757) 595-2536PESTOUT Glen Workman (757) 223-9902PFG Insurance amp Benefits Derry Haywood (757) 873-4508Pillar to Post Home Inspection Cathi Lynch (757) 870-4073PNC Mortgage Elyse Callaway (757) 599-6882PrimeLending Mike Hartnett (757) 368-9910Prof Termite amp Moisture Control Patrick Rogan (757) 599-3167Prospect Mortgage Ilonka Avila (757) 873-4728Prosperity Mortgage Kevin Hull (757) 490-9200Pro-Tech Exterminating Inc Bob Herget (757) 224-1339REIN Joan Griffey (757) 531-7900Reliance Pest amp TermiteInc Wayne Kessinger (757) 485-5005Servpro of Hampton Missy Burns (757) 825-9700ServiceLink Raquel Linger (757)254-8352Staged 2 Sell Therese Robinson (757) 344-5322Suntrust Mortgage Corporation Tricia Gentry (757) 873-7920Terry Peterson Residential John Peterson (757) 460-1770The Closers of Virginia Inc Bella Trowbridge (757) 595-4707The Real Estate Book Bill McFall (757) 873-6731Tidewater Home Funding Gee Horton (757) 757-223-9494Tidewater Mortgage Services Bob Teravainen (757) 594-6165TowneBank Mortgage Shirley Sasser (757) 687-5000US Inspect Inc Kevin Salva (757) 254-2960Universal Pest amp Termite Inc George Pilkington (757) 502-0200VA Housing Development Authority Janice Burgess (800) 227-8432VA Peninsula Chamber of Commerce Mike Kuhns (757) 325-8170Virtual Tidewater Rosalind Boyle (757) 880-6422Wells Fargo Home Mortgage Teresa Rutherford (757) 873-3308
PeninsulaREALTORreg Jan - Feb 2016page 5
And Then Some
We do more than sell houses We do more than guide our clients and custom-ers through the intricacies of the home buying or selling process We do more than is required of us by state and national statute As REALTORSreg we do these thing and then some I have been reminded of this often over the past month
On February 2 the VAR Roadshow visited the VPAR building No song and dance this The Roadshow is a required Code of Ethics and procedures update for Associa-tion Board and Professional Standards Committee members At VPAR this is an annual requirement The Code and itrsquos enforcement is among the things that set Realtors apart from other licensees
At the VAR Legislative Conference in Richmond we were reminded of the importance of our RPAC investment and the positive effects it has on legislation that best serves not only us but home-owners buyers and sellers I was pleased and proud to join in being presented the ldquoTriple Crownrdquo trophy for meeting and exceeding our 2015 goals for participa-tion dollars raised and number of major
donors Thanks are due to 2015 Presi-dent Dewey Hutchins and RPAC chair Carla Carney for a job well done Among the fruits of our efforts is the ear and sup-port of our local General Assembly delega-tion who met with us in their offices and at a reception that was also attended by Governor McAuliffe
On February 23 we welcomed more than two dozen new members to VPAR They learned and I was reminded about the myriad of resources that are available to each of us from VPAR VAR and NAR I encourage you to take advantage of them
Finally take a look at our VPAR partners and affiliates Their involvement with the Association allows us to make more programs and educational opportunities available to us When you see them please thank them and if they provide a service that you can use please keep them in mind
Happy selling
Presidentrsquos Messageby Andy COHEN 2016 VPAR President
PeninsulaREALTORreg Jan - Feb 2016page 6
PeninsulaREALTORreg Membership By Cindy Anderson Director of Membership
WELCOME NEW REALTORSregClinton Allen Rose amp Womble Realty Company James Beal Abbitt Realty Company LLC
Charles Blount Preferred Properties Kim Borum Berkshire Hathaway HomeServices Towne Mindy Bowman Abbitt Realty Co LLC Benjamin Canty greg garrett realtycom
Monteiro Chamblee Willow Beach Real Estate LLC Shirley Charles greg garrett realtycomLelani Clayton Coldwell Banker Traditions John Gorman Keller Williams Elite - Pen
Marcela Graham Mid-Atlantic Residential Michelle Guthrie REMAX CapitalJillian Hooper Rose amp Womble Realty Company Ashley Horak Keller Williams Elite - Pen
Tresa Maynor Mid-Atlantic Residential Kathleen McKone Rose amp Womble Realty CompanyRebecca Montreuil-Silvis EXIT Real Estate Solutions Beth Posada Keller Williams Elite - Pen
Valerie Shelton Keller Williams Elite - Pen Ronnie Snipes Keller Williams Elite - PenJulie Strelow Fathom Realty Daniel Zarkowski Abbitt Realty Co LLC
RECENT TRANSFERSMaria Araiza Howard Hanna-William E Wood Edward V Bond Howard Hanna - William E Wood
Nancy S Bonnema Berkshire Hathaway HomeServices Towne RealtyChiffon Bradshaw Willow Beach Real Estate LLC Sammie Buckhanon Keller Williams Elite - Pen
Victoria Burland Brian F Saunders amp Associates Tracie Burton Keller Williams Elite - PenDeborah Eggers Keller Williams Elite - Pen Kimberly Gonzalez Keller Williams Elite - Pen
Sabrina Hack Keller Williams Elite - Pen Sabrina Hite REMAX PeninsulaKim Hoskins Keller Williams Elite - Pen Jessica Lucas Keller Williams Elite - Pen
Jon E May Fathom Realty Lorri McDonald Keller Williams Elite - PenKristi McKittrick Rose and Womble LLC Pamela Murphy ERA Real Estate Professionals
Jake OrsquoBryan Abbitt Realty Co LLC Tracy Prince Keller Williams Elite - PenPatsy G Sheppard Keller Williams Elite - Pen Carol A Sobieski CENTURY 21 Nachman Realty
David Tortolini Keller Williams Elite - PenRay Upright Howard Hanna - William E Wood Rachael Ward Brian F Saunders amp Associates
WELCOME NEW AFFILIATES Christopeher Walker CCW Construction
Michael Vernon Comparity LLC Sherry Thacker Old Point Mortgage LLC
adapted homes for severely injured post-911 veterans Each home is built with features that accommodate the needs of the veteran and offered mortgage-free so that the veteran can focus on recovery and rebuilding a healthy life Operating for 11 years Homes for Our Troops has built over 190 homes across the United States and currently has five projects underway in Virginia The organization is top-rated for financial stewardship and operations and works carefully with each veteran on homeownership readiness and responsibility
In August 2015 the Virginia Association of REALTORSreg became a regional corpo-rate partner of Homes for Our Troops in a lasting commitment to the housing needs of Virginia veteran and military families With hundreds of contributors and over $60000 in the first few months of part-nership REALTORSreg across the state are engaged in supporting the projects underway and the veterans in their com-munities
One of the first homes that Virginia REAL-TORSreg and HFOT built is located in York County The event during which the key is presented to the injured veteran will be held on March 6 2016 VPAR has been conducting outreach to area elected of-ficials inviting them to attend this special morning VPAR members can learn more details by visiting httpswwwhfotusaorgslate
PeninsulaREALTORreg Jan - Feb 2016page 7
The PeninsulaMonitor by Susan Gaston LEGISLATIVE CONSULTANT
Monthly Public Policy Report
ldquoTHE MONITORrdquo February 2016
Local Issues
Newport NewsVPAR is coordinating with the Wason Center for Public Policy at Christopher Newport University regard-ing public dissemination and media po-tential for the recently produced housing needs study and market needs analysis The study is a resource to the decision makers in the region particularly in the City and we want to position the Associa-tion as a leading organization in formulat-ing future housing policy
PoquosonMark your calendars for Friday May 6th The City is hosting its annual Residential REALTORreg Day where VPAR members can hear from City leaders tour the ldquoBull Islandrdquo and have a Fun Friday Been there done that Donrsquot worry VPAR is work-ing with the City to reformat the popular event so that it is new to even repeat at-tendees More to comehellip
York County Last year the Virginia Association of RE-ALTORSreg (VAR) partnered with Homes for our Troops (HFOT) a national non-profit organization that builds specially
Regional Issues
Local voters will go to the polls in Hamp-ton and Newport News on Tuesday May 3rd Hampton elections will include voting for Mayor and three At-Large City Council seats with Mayor George Wal-lace and Council Members Linda Curtis Billy Hobbs and Chris Snead all seeking re-election Other candidates likely will be coming forward before the March 15th filing deadline
In Newport News three incumbents will be seeking re-election to City Council In the Central District incumbent Pat Wood-bury will be challenged by Mike Mullin Councilman Rob Coleman in the North District currently is running unopposed as is South District Councilwoman Tina Vick
VPARrsquos Public Policy Committee will be conducting candidate interviews for the purposes of endorsing pro-housing pro-business candidates and supporting their campaigns with funds from the REAL-TORSreg Political Action Committee (RPAC) of Virginia
State Issues
At the time of this writing the 2016 General Assembly Session has reached the halfway mark and is in the final two weeks of legislative work REALTORreg bills are in strong shape as the House and
Senate finalize committee action
HB 577AgencyLicensing Law Revisions Passed the House 97-0 020316Passed the Senate 40-0 022516On Governorrsquos Deskhttplisvirginiagovcgi-binlegp604exe161+ful+HB567+pdf
HB 577 InterpleaderEscrow Accounts Passed the House 98-0 020216Reported from Senate Courts of Justice Committee 022416httplisvirginiagovcgi-binlegp604exe161+ful+HB577+pdf
HB 684POACOA Amendments Passed the House 99-0 021016Reported from the Senate General Laws amp Technology Committee 15-0 022216httplisvirginiagovcgi-binlegp604exe161+ful+HB684+pdf
SB 453Licensing of Home Inspectors Passed the Senate 30-9 012916Passed the House 100-0 022216On Governorrsquos Deskhttplisvirginiagovcgi-binlegp604exe161+ful+SB453+pdf
A more detailed legislative report will be forthcoming as more bills report out of Committee and move off of the floors
PeninsulaREALTORreg Jan - Feb 2016page 8
The PeninsulaMonitor Continues
PeninsulaREALTORreg Jan - Feb 2016page 9
2016 REALTOR Day on the HillRichmond VA
Virginia Peninsula Association of REALTORSawarded the 2015 RPAC Triple Crown
at the RPAC Awards Ceremony
Recognized for Meeting amp Exceeding2015 RPAC Fundrasing Goal
2015 RPAC Participation Goal2015 Major Investor Goal
Shown accepting award Dewey Hutchins 2015 President Carla Carney 2015 RPAC Chair Karla Grase RPAC Vice Chair Andy Cohen 2016 President Jim Wetzel CEO and
Bill White 2016 VAR President
PeninsulaREALTORreg Jan - Feb 2016page 10
The PeninsulaMarket by the Virginia Association of REALTORSreg
January 2016 Homes Sales Report Steady start to the Virginia housing market in new year - Median sales price up more
than 3 percent YOY - January 2016 residential real estate sales top $174 billionAccording to the Virginia Association of REALTORSreg (VAR) January 2016 Home Sales Report residential real estate sales in the first month of the year reflected typical indus-try seasonality Historically January is the slowest month for home sales and this year was particularly affected by a catastrophic winter weather event Despite significant disruption to market activity from Winter Storm Jonas volume declined by less than one percent year-over-year remaining near static with January 2015 Median sales price rose year-over-year contributing to a higher total transaction value than January 2015 The value of transactions in January 2016 exceeded $174 billion an outperformance of the same month last year despite near even sales numbers Median sales price for Janu-ary 2015 rose 326 percent from the same period last year from $237750 to $245500 and more than 7 percent from January 2014 ($228380) Year-over-year elevation indi-cates sustainable market improvement Read the full report here
PeninsulaREALTORreg Jan - Feb 2016page 11
Federal Issues
NAR TESTIFIES ON VETERANSrsquo HOUSING
On Feb 10 NAR 2016 Vice President Sherri Meadows testified before the House Veterans Affairs Subcommittee on Economic Opportunity at a hearing entitled ldquoA Review of VArsquos Loan Guaranty and Specially Adaptive Housing Grant Programs (SAH)rdquo The testimony focused on long-term REALTORreg support for the VA home loan guaranty and the benefits it provides our nationrsquos veterans According to the 2015 NAR Homebuyer and Seller Survey one in five buyers was a veteran or active duty service member NAR recommends all REALTORSreg ask their clients if they have ever served as this program provides zero-downpayment loans and favorable terms to eligible veterans
In the testimony Meadows asked for three enhancements to the program to make it even more useful for veterans 1) increase the loan limits for VA VA is not just another loan program - itrsquos an entitlement Veterans should not be prohibited from using their guaranty in high cost areas 2) ease restrictions on what the veteran can pay in the mortgage transactions Veterans are often disadvantaged when bidding on a home due to their inability to negotiate certain fees and 3) incentivize lenders to offer
an FHA 203k-type product for veterans This type of loan includes the costs of rehabilitation and repairs and could allow veterans better access to homes that need some work
NAR also supported increasing efficiency in the specially-adapted housing (SAH) grant programs and urged the Committee to make the VA loan as useful as possible for all our nationrsquos veterans so it may be a real benefit to those who have so bravely served our country
Watch the video here httpswwwyoutubecomwatchv=VW_srZ1yUcw
HOUSE PASSES VA LOAN BILL
In early February the House of Representatives passed legislation which included a provision to eliminate the cap on VA loan limits The bill HR 3016 ldquoVeterans Employment Education and Healthcare Improvement Actrdquo sponsored by Rep Wenstrup (R-OH) included an amendment added by Rep Zeldin (R-NY) in Committee that would allow veterans to purchase a home in high cost areas by eliminating the maximum loan amount on VA loans As stated in the accompanying report ldquoThe Committee is confident VArsquos current strict underwriting standards and low foreclosure rates will ensure that veterans still have the required good credit and income to qualify for the loan and that this change will not
PeninsulaREALTORreg Jan - Feb 2016page 12
The PeninsulaMonitor continued
PeninsulaREALTORreg Jan - Feb 2016page 13
result in a significant increased amount of foreclosuresrdquo NAR has long supported the VA home loan guaranty program and believes that as an entitlement program our nationrsquos veterans should have the freedom to purchase a home wherever they choose to live
Should you have questions on these or other issues or for additional details please contact Susan Gaston VPARrsquos Legislative Consultant at 757-871-1445 or at susangastongroupcom
PeninsulaREALTORreg Jan - Feb 2016page 14
The PeninsulaMonitor continued
Commuting Costs Important to Home Buyers
Even with plunging gas prices the cost of commuting to and from the office can be pricey (as well as stressful) But how much does that commute play into the homebuying process According to research from the National Association of REALTORSreg commuting costs defi-nitely come into play in searching for and purchasing that dream home in fact 30 percent of homebuyers purchased homes last year to cut down on commut-ing costsmdasha factor they cited as ldquovery importantrdquo Additionally 64 percent of buyers bought their home in part because it was convenient to their job this was so important that 23 percent of those buyers said they compromised on the price of their home to be physi-cally closer to work mak-ing more time for the other important things in their life such as spending time with friends and family
Take a look at NARrsquos 2015 Profile of Home Buyers and Sellers Read more about this topic on NARrsquos Econo-mistsrsquo Outlook blog
The PeninsulaMarket Tips
PeninsulaREALTORreg Jan - Feb 2016page 15
REALTORSreg amp RESPA
Are Realtors Getting Reli-gion
Most Realtors are aware of the anti-kick-back provi-sions of the
Real Estate Settlement Procedures Act ldquoNo man shall giveth Yea neither shall he receiveth any thing of value to God or Mammon pursuant to any covenant under the heavens that calleth for referrals of settlement servicesrdquo Book of RESPA 84
This well-known proverb articulates the received wisdom of Congress that refer-ral fees unnecessarily add to the cost of settlements and thus make housing less affordable for Godrsquos children Not every-one agrees however RESPA expert Phillip Schulman for instance has articulated a three-part test to determine the legality of any particular activity under RESPA First Does the activity make business sense that is does it tend to increase efficiency decrease waste and lower costs Second Does the activity benefit the parties to the transaction (here the brokers borrowers buyers and sellers) And finally Would the activity be permitted in almost any
other arena of commerce as accepted and ethical business practice If the answer to all three questions is yes then the activity says Schulman is almost certainly illegal under RESPA
The essence of Section 8 of RESPA seems to be that while the business expense of a targeted and highly effective referral fee paid by a lender to a referral source must be recovered by the lender in the form of higher loan costs the highly inefficient ad-vertising that replaces the referral source does not You can decide what to make of that argument
However we have to live with the RE-SPA prohibition against paid referrals as valueless acts that serve only to drive up costs But even RESPA acknowledges that it is legal to be paid for services actually performed up to the value of the services if the services are not referrals (which by definition have no value) And it is legal to refer business to an entity of which you are an owner as long as your compen-sation is based on your profit from the entity and not linked to the referral per se And thereon hangs an interesting tale
Lenders and other settlement service pro-viders long ago discovered that offering a piece of the pie to sources of referrals made good business sense Thus we have seen a proliferation of real estate broker-
Risk ManagementREALTORSreg and RESPAby Blake Hegeman CAE Deputy General Counsel
PeninsulaREALTORreg Jan - Feb 2016page 16
Risk ManagementREALTORSreg and RESPAby Blake Hegeman CAE Deputy General
lender lender-title company broker-settlement agency joint ventures over the years These couplings make great sense and afford the participants incentives to refer business to the joint venture partner This type of relationship does not violate RESPA if the benefit accruing to the referral source is strictly according to ownership interest in the benefited entity and the consumer to whom a referral is made is given the RESPA Miranda warning ndash basically that the person making the referral may benefit from it that the service will cost a certain amount and that the consumer might find the service cheaper elsewhere These relationships are legal and ethical and can be quite beneficial
Now because RESPA permits service pro-viders to pay for service actually performed some have tried ndash with varying degrees of
success ndash to skirt RESPA by paying more than the service is worth or for duplicative efforts or even for only nominal ndash or no -- service These ldquodisguisedrdquo referral fees are illegal and much despised by HUD who seeketh after them like the righteous man seeketh after salvation
That brings us to a more recent phenom-enon the efforts of some mortgage brokers and lenders to avoid the strictures of RESPA by hiring referral sources as employees and paying them for work they do as employees Of course much or all of that work will be for clients referred by the employee but if the employeremployee relationship is bona fide and the salary is for -- and commen-surate with -- services actually performed the relationship can be legal Itrsquos likely that HUD will apply something like the IRS test to determine whether the employee really is an employee and virtually everyone acknowledges that merely giving the ldquoem-ployeerdquo a W-2 and calling her an employee will not be enough
PeninsulaREALTORreg Jan - Feb 2016page 17
Risk ManagementREALTORSreg and RESPAby Blake Hegeman CAE Deputy General
We also need to be aware of another limita-tion imposed by Virginia law even when the labyrinth of RESPA has been negotiated The Virginia Mortgage Lender and Bro-ker Act provides in Section 61-422 that a person may not receive a fee as a mortgage broker and a real estate broker for services performed in the same transaction unless the person was licensed and regularly engaged in mortgage brokerage in Virginia as of Feb-ruary 1989 This resolution of a turf battle between mortgage and real estate brokers was weakened by a provision permitting real estate brokers (but not salespersons) who are owners of a real estate firm to own
an interest in a mortgage lender or broker and to profit from such investment and be compensated for services actually performed for those entities But the prohibition on dual brokerage fees to non-grandfathered persons persists
These are only a few examples from the veritable patchwork quilt of efforts to overcome RESPArsquos prohibition on referral fees Perhaps what Realtors need most to be aware of is that HUD approaches what it sees as RESPA violations with a fervent zeal displayed few other places If you are look-ing for a way to receive a fee for referring settlement business look for another way to make a buck If yoursquore willing to work le-gitimately for a service provider and get paid for the value of what you do -- and no more ndash there are opportunities out there awaiting
NEW Womens Council of REALTORSreg Coastal Chapter at VPAR
PeninsulaREALTORreg Jan - Feb 2016page 18
PeninsulaREALTORreg UPCOMING EVENTSby Jo McNamara Daly Director of education and events
Save The Dates
March 5th - OSC Awards Banquet at City Center
March 22nd - Lunch amp Learn SEO
April 12th - VRLTA Seminar with Chip Dicks
April 19th - General Membership Meeting at VPAR
May 9th - 14th - NAR Legisilative Conference in DC
PeninsulaREALTORreg Jan - Feb 2016page 19
Ready To Get StartedCONTACT ATLANTIC BAY TODAY
For examplehellip A borrower age 72 with a purchase price of $200000 would require ONLY $92000 at closing for the Reverse Mortgage
Homeowner continues to pay insurance and property taxes live in and maintain home Home must be primary residence Program not currently available in all states People portrayed are professional models and are used for illustrative purposes only Terms and conditions subject to change without notice Consult your tax advisor before choosing a reverse mortgage
Clients Mustbull Be 62 or older to qualify (at least one person-can have younger spouse as non-borrower to
qualify)
bull Own your home outright (or have a low mortgage balance that can be paid off at closing with proceeds from the reverse loan or have a large down payment to purchase)
bull Have the financial resources to pay ongoing property charges including taxes and insurance
bull Live in the home
You donrsquot make payments while you live in the house but the loan and interest come due when you sell move out for 12 months or more or last person leaves the house permanently
DAWN ST CLAIR PHILLIPSSr Mortgage BankerNMLS 115936757-715-5733dawnphillipsatlanticbaycomatlanticbaycomdawnphillipscom
Did you knowYOU CAN USE A REVERSE MORTGAGE TO PURCHASE A HOME
ARE YOU CONSIDERING MOVING CLOSER TO YOUR FAMILY OR DOWNSIZING TO A HOME THAT BETTER SUITS YOUR NEEDSOR LOOKING TO STAY IN YOUR HOME AND NEED ADDITIONAL INCOME
PeninsulaREALTORreg Jan - Feb 2016page 20
PeninsulaREALTORreg Jan - Feb 2016page 21
PeninsulaREALTORreg Jan - Feb 2016page 22
The PeninsulaRealEstateSchoolby Jo Mcnamara Daly Director of Education amp Events
2016 Continuing Education Classes Location
VPAR Building 1001 North Campus Parkway
Hampton VA 23666 757-599-5222
Payment MUST be made at time of registration Register online at membersvparorg and click on Member Service Center to login or complete this form and fax to 757-596-3911 or email to jovparorg VPAR reserves the right to cancel a class if less than 10 people are registered 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 12 Tuesday July 12 Tuesday Feb 9 Tuesday Aug 9 Tuesday Mar 8 Tuesday Sept 13 Tuesday Apr 5 Tuesday Oct 11 Tuesday May 10 Tuesday Nov 8 Tuesday June 21 Tuesday Dec 6
All 8 Hour Classes are from 830 ammdash530 pm
Code of Ethics (Meets NAR Quadrennial Requirements) amp Code of Conduct
Fair Housing Legal Updates amp Emerging Trends (Law) Flood Insurance amp Flood Map Instruction Real Estate Contracts Real Estate Agency
8-HR Elective CE Class Dates
Thursday Feb 16 Tuesday Sept 20 Tuesday May 17 Tuesday Nov 15
Anti-Trust Disclosures Professionalism Safety Do-Nots
3-HR Code of Ethics Course
Thursday November 3rd from 1ndash 4 pm Thursday December 8th from 1-4 pm
More dates to be added soon Meets NAR Quadrennial Requirements
Peninsula Real Estate School owned and operated by
Virginia Peninsula Association of REALTORSreg
Registration Form
Name Company Address City State Zip Phone Email License ______ Exp Date _
Method of Payment
Check Invoice Office Visa MasterCard AMX Discover Card Name on Card ____________________________ Credit Card _____ Exp Date Signature _____ Name on Card _________________________ Amount Due (check appropriate box) 8-Hour Course VPAR Member $50 8-Hour Course Non-Member $60 3-Hour Ethics Course VPAR Member $30 3-Hour Ethics Course VPAR Non-Member $35
PeninsulaREALTORreg Jan - Feb 2016page 23
Chip Dicks VAR Legislative
Counsel
The Virginia Peninsula Association of REALTORSreg in cooperation with
The Virginia Association of REALTORSreg presentshellip
VRLTA Update with Chip Dicks
Get the information you need on the updatedVirginia Residential Landlord Tenant Act
Tuesday April 12th 2016 900 am ndash 400 pm
_________________
$12500 per member $13000 per non-member
Virginia Peninsula Association of REALTORSreg 1001 North Campus Parkway Hampton 23666
Sponsor LUNCH INCLUDED
VRLTA Update with Chip Dicks ndash April 12th 2016Pending REB Approval for 3 Hours Legal Update amp 3 Hours Real Estate Related CE
Pending REB Approval for 2 Hours of Current Industry IssuesTrends Course will be submitted for approval at the end of the general assembly session to include anyall changes in the VRLTA
NAME FIRM
ADDRESS
CITY STATE ZIP
PHONE E-MAIL
Method of PaymentCheck ____ Visa MasterCard____ Discover___ AMX____
Credit Card Exp date
Signature(Your signature indicates acceptance of VPAR registration policy and authorization of credit card charges)
Name on credit card_______________________________________
PLEASE RETURN TO VPAR AT FAX NUMBER 757-596-3911 MAIL TO VPAR 1001 North Campus Parkway Hampton VA 23666 or register online at membersvparorg
QUESTIONS CALL 757-599-5222Cancellations must be received within 48 hours of the event to receive full refund On-site registration fee is $135 Please notify us in advance if you have a disability that requires special services
bull Get up to speed on the recent changes to the Virginia Residential Landlord and Tenant Act
bull Designed for both real estate brokers and sales persons this course offers a detailed review of lease applications
bull A ldquohow tordquo guide for broker agent compliance bull The awareness and information you need to protect your
business
Approved for
6 hrs CE and 2 hrs PL Credit
PeninsulaREALTORreg Jan - Feb 2016page 24
REINMLScom ndash A Valuable Member Resource
This year REIN unveiled a new and improved REINMLScom website If you havenrsquot logged in yet please be sure to do so and take advantage of all the site has to offer
If you have never been to REINrsquos member website and are wondering what it offers think of it as a ldquohubrdquo to all things REIN‐related From REINMLScom you can access Fusion and Matrix find market statistics and graphs the current monthrsquos training calendar PDF copies of REINrsquos contracts and forms and much more You can even access your membership account to review and pay invoices online
The new mobile friendly website offers you a fresh look eye‐catching graphics and improved navigation that makes information easy to find Plus two great new featureshellip
A lsquoSYSTEM STATUSrsquo section has been added to the home page of the website to identify when REINrsquos MLS systems and programs are experiencing known issues such as updates service interruptions or down time
The second new feature is lsquoASK REINrsquo ndash a robust technical support module ASK REIN allows you to search online documentation that can help you troubleshoot commonly asked technical questions and if you canrsquot find the answers you are searching for then you can lsquoSubmit a Support Requestrsquo to REINrsquos Tech Support Department directly from the website
To access the full benefits of REINMLScom members must log into the site using their REIN ID and a password If you have not already done so please establish a password for this website by clicking on lsquoChangeForgot Passwordrsquo located next to the green Log In button in the top right corner of the screen Then check your email for a link to reset your password If you still cannot log into the site please contact REINrsquos Tech Support at 7575317901 or supportreininccom
Check it out today wwwREINMLScom
PeninsulaREALTORreg Jan - Feb 2016page 25
Scenes From Our January Social At BJrsquos at Tech Center amp February at UNOrsquos
THANKS TO OUR ALL SPONSORS MARES Exterminating AT BJrsquos andFidelity Bank Mortgage at UnOrsquos
Vpar SOCIAL HAPPENINGS
PeninsulaREALTORreg Jan - Feb 2016page 26
The Virginia Peninsula Association of REALTORSreg presentshellip
The Accredited Buyer Representative Designation
(Approved for 13HRS CE credit)
Instructor Pat Snyder
Accredited Buyer Representative Designation Course ndash April 7 amp 8 2016
NAME FIRM
ADDRESS MEMBER
CITY STATE ZIP
PHONE E-MAIL
Method of Payment Check
Credit Card Exp date
Signature (Your signature indicates acceptance of VPAR registration policy and authorization of credit card charges) Real Estate License Exp date
PLEASE RETURN TO VPAR AT FAX NUMBER 757-596-3911 MAIL TO VPAR 1001 North Campus Parkway Hampton VA 23666 or register online at membersvparorg
QUESTIONS CALL 757-599-5222 Cancellations must be received within 48- business hours of course to receive a refund Registrations are
non-transferable On-site late registration fee is $325 VPAR RESERVES THE RIGHT TO CANCEL THE COURSE IF MINIMUM REGISTRATIONS ARE NOT MET
Please notify us in advance if you have a disability that requires special services
Thursday amp Friday April 7 amp 8 2016 830 am ndash 500 pm
APRIL IS A SPECIAL DISCOUNT MONTH (REGULAR MEMBER RATE IS $295)
VPAR Headquarters Training Room A 1001 North Campus Parkway Hampton VA 23666 Early Bird Pricing before April 1 by NOON
Members $255 Non-Members $275
Register after Members $275 Non-Members $300
On-site registration fee is $325
PeninsulaREALTORreg Jan - Feb 2016page 27
VPAR Peninsula Partners include the following loyal firms who have stepped up to support VPARevents and education throughout the year This program reflects a commitment to provide REALTORreg
members with the best business environment while connecting to industry professionals whoprovide valuable products and services It is designed to create a unique partnership between
sponsors and the Association where both members and sponsors benefit greatly through the abilityto network exchange ideas and conduct business
PeninsulaREALTORreg Jan - Feb 2016page 28
VPAR Members Supporting Our Communities atThe Poquoson Neighborhood Food Distribution
for the Peninsula Food Bank
PeninsulaREALTORreg Jan - Feb 2016page 29
CONTACT A LOCAL LOAN OFFICER AT 1-877-573-2324gt KIMBERLY CRESS EXT 21238gt LASHEKA PEARSON-PARKER EXT 21210gt NATASHA THOMAS EXT 21104
Federally insured by NCUA 100 financing loans include an additional funding fee which may be financed up to the maximum loan amount Product features subject to approval copy 2016 Navy Federal NFCU 13490 (2-16)
THEYrsquoLL ENJOY
gt no application feegt 100 financing optionsgt up to 6 seller contribution allowed
HELP YOUR CLIENTS UNLOCK THE DOOR TO THEIR FIRST HOME
13490_Peninsula_Realtor_Mag_Ad_2_162indd 1 2416 202 PM
PeninsulaREALTORreg Jan - Feb 2016page 30
smile you can have 2-10 Home Buyers Warrantyreg
on your team with our industry leading Home
Warranty Service Agreement
bull Over 55 million homes protected
bull Over 975 of claims paid
bull A Rating with the Better Business Bureau (BBB)
Carolyn Ricketts Account Executive5716068051| cricketts2-10com
Defeated a 500 Increase We helped to defeat a budget amendment that would have increased the deductible that property owners including
YOUR clients pay to have their leaking underground oil tanks cleaned up and repaired by 500 The current $500 deductible was proposed to go up to $2500
The petroleum tank increase was a budget amendment
Prison time 1 to 6 years We added a felony charge to any criminal who lures or entices a REALTORreg to a property with the intent to do harm
The added felony will increase a criminalrsquos sentence by up to 6 years The 1-6 years are the statutory sentencing guidelines
Save $150 - $500hr on attorneysrsquo fees We continued to refine legislation that allows property managers to represent your clients in General District court
without needing an attorney So how much would your attorney charge per hour Typically attorney fees range from $150 - $500hr
$12000 back to consumers Under a new law that VAR drafted we have made it easier for Virginia consumers who have received a court judgment to
collect damages from the Real Estate Transaction Recovery Fund The average claim is approximately $12000 The $12000 figure is an estimate by the DPOR finance staff on the average claim that comes before the Board
Wiped out $200per Sign Fines We worked with a state legislator to prevent a proposal creating daily fines of $200 for any sign in any public right of
way How often do you use such signs for your listings 10 days for 1 sign = $2000 The $200 per sign was the language in the proposed bill VAR was able to stop
Keep RPAC of Virginia working for you Without your support RPAC cannot remain a powerful voice on key legislative issues Your dollars help us make our voice heard
Visit VirginiaRealtorsChoosecom
RPAC of VIRGINIA VICTORIES BY THE NUMBER$
RPAC makes a difference Just look at the numbers
PeninsulaREALTORreg Jan - Feb 2016page 32
January 2016 Virginia residential real estate sales showed typical industry seasonality January tends to be the slowest month for home sales and this year was particularly affected by catastrophic Winter Storm Jonas In spite of blizzard conditions that halted market activity for several days sales volume was nearly on par with the same month last year The value of transactions in January 2016 exceeded $174 billion an out performance of the previous January Median sales price rose 326 percent year-over-year and more than 7 per-cent from January 2014 Year-over-year elevation indicates sustainable market improvement Click here for the complete report httptinyurlcomj7k254s
Full service marketing amp innovative mobile platformsall designed with your business in mind
NMLS 176544 Member FDIC
MonarchWhere homebuying dreams take flight
PeninsulaREALTORreg Jan - Feb 2016page 33
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAIL
Featuring250 characters25 per lineEast WilmingtonRutherford Grand LakesArington Hills CoolidgeElrot Florence GilbertGold Canyon King andQueen Cedar CrestBristol Newport JacksonMadison ElbertvilleBarrowALL ACROSS NORTH AMERICA
THERealEstateBookreg
Volume 00 Issue 00
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAILTo see a sample listing on your smartphone Text T312634 to 85377
Learn more at RealEstateBookMediaKitcomFor FREE MAGAZINES or to ADVERTISE visit our website or call 800-841-3401
Bill McFallMarket Representative
The Market Leader in Hampton Roads VA amp North America
780 Pilot House Drive Building 400B Newport News VA 23606
office 757-873-6731 bull cell 757-286-6731 bull fax 757-273-8275email billmcfallcoxnet
wwwRealEstateBookHRcom
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Interested in advertising your company Click here for our 2016 Adverstising Information
or call us at 757-599-5222 today
PeninsulaREALTORreg Jan - Feb 2016page 34
The PeninsulaPerspective by Jim Wetzel RCE CEO
Nobody will ever deprive the American people of the right to vote except the American people themselves and the only way they could do this is by not voting
Franklin D Roosevelt
This past week I was honored to attend our REALTOR Legislative Meetings in Richmond VA together with our members arriving from all corners of the commonwealth We arrived with a common mission of taking our message to our legislators on the many ways we can improve the real estate industry and homeownership opportunities in our communities
With pride our members spoke of the improvements in the real estate indus-
try over the past year and highlighted our recommendations on how together REALTORS and our legislative partners can make things even better in the years ahead We highlighted important chang-es that we felt would make not only the industry better but the lives of all who call Virginia their home
We spoke together and our legislators listened We made a difference
On March 1st the process of selecting our next President of the United States begins We have listened to the debates been inundated by the media heard from the political commentators and heard the endorsements
Now it is time for us to speak We can make a difference one vote at a time
PeninsulaREALTORreg Jan - Feb 2016page 35
PeninsulaREALTORreg Jan - Feb 2016page 4
PeninsulaAffiliatesof the Virginia Peninsula Association of REALTORSreg
1st Advantage Federal Credit Union Jessica Cecil (757) 877-24442-10 Home Buyers Warranty Carolyn Ricketts (571) 606-8051Alpha Pest Solutions Sindi Rowell (757) 873-4999Amerispec Home Inspection Jamison S Brown (757) 868-0988Atlantic Bay Mortgage Group Kim Niccum (757) 874-6040Bankers Title LLC J Vance Stallings (757) 645-9327BB amp T Mortgage of Virginia Donna Davis (757) 873-6001BridgeTrust Title Group Raynelle Ricks (757) 671-7413CCW Construction Christopher Walker (757) 719-0520CampF Mortgage Mary Rebholz (757) 873-8200Coleman amp Coleman PLC Donnie Coleman (757) 965-8482Coleman World Wide Moving Allied David Carter (757) 827-6225Colonial Exterminating Co Kimberly Beckett (757) 599-0889Commonwealth Exterminating Johnny Newell (757)873-2030Comparity LLC Michael Vernon (757) 333-0705Cox Communications Misty Pritchett (757) 222-8394Creative Chameleon Media Karen D Lawson (804) 694-7586ET Lawson amp Son Inc Nancy L Allen (757) 722-1928Fidelity Bank Mortgage Nina C Efird (757) 597-0431First American Home Buyers Pro Jamie Cook (757) 390-8785Flemings Awards amp Promotional Fleming A Buck (757) 229-5688Fulton Mortgage Company Ryan Mutter (757) 223-4330HMS Home Warranty Amy Holloway (757) 472-5602Home Title of Virginia LLC Peggy H Truitt (757) 599-4663Home Warranty of America Tina Carneal-Flowers (757) 675-1185Johnson Mortgage Company LLC Allen Barber (757) 873-1287Jones Blechman Woltz amp Kelly Herbert Kelly Esq (757) 873-8000Kaufman amp Canoles PC Mark A Short (757) 873-6351Langley Federal Credit Union Tammy Gelles (757) 827-7200Liberty Title amp Escrow Michael Hamar (757)926-5255Lytle Law PC Brian D Lytle (757) 595-5655Lytle Title amp Escrow LLC Heather Fuller (757) 643-7899Mares Exterminating Co LLC Thomas Mares (757) 868-4898Miller Walsh Kutz amp Laster PLC Julianne Cyr (757) 595-0123Monarch Mortgage Andrew Jordan (757) 870-5445D Wayne Moore Esq (757) 873-7700
Please join us in supporting our Affiliate Members by contacting them today Become an Affiliate here
Movement Mortgage David Wright (757) 717-0248NARPM Peninsula Chapter Russ Skidmore (757) 715-3070National Exterminating Co Phillip Burke (757) 599-3621Navy Federal Credit Union Karen Arient (877) 573-2324 ext21237Old Point Mortgage LLC Sherry Thacker (757) 591-5847Old Republic Home Protection Brett Cole (703) 217-8848OVM Financial Inc Chip Simkins (757) 713-2600Peerless Carpet amp Restoration Rebecca Shultz (757)847-6300Peninsula Title Company Robin B McArthur (757) 595-2536PESTOUT Glen Workman (757) 223-9902PFG Insurance amp Benefits Derry Haywood (757) 873-4508Pillar to Post Home Inspection Cathi Lynch (757) 870-4073PNC Mortgage Elyse Callaway (757) 599-6882PrimeLending Mike Hartnett (757) 368-9910Prof Termite amp Moisture Control Patrick Rogan (757) 599-3167Prospect Mortgage Ilonka Avila (757) 873-4728Prosperity Mortgage Kevin Hull (757) 490-9200Pro-Tech Exterminating Inc Bob Herget (757) 224-1339REIN Joan Griffey (757) 531-7900Reliance Pest amp TermiteInc Wayne Kessinger (757) 485-5005Servpro of Hampton Missy Burns (757) 825-9700ServiceLink Raquel Linger (757)254-8352Staged 2 Sell Therese Robinson (757) 344-5322Suntrust Mortgage Corporation Tricia Gentry (757) 873-7920Terry Peterson Residential John Peterson (757) 460-1770The Closers of Virginia Inc Bella Trowbridge (757) 595-4707The Real Estate Book Bill McFall (757) 873-6731Tidewater Home Funding Gee Horton (757) 757-223-9494Tidewater Mortgage Services Bob Teravainen (757) 594-6165TowneBank Mortgage Shirley Sasser (757) 687-5000US Inspect Inc Kevin Salva (757) 254-2960Universal Pest amp Termite Inc George Pilkington (757) 502-0200VA Housing Development Authority Janice Burgess (800) 227-8432VA Peninsula Chamber of Commerce Mike Kuhns (757) 325-8170Virtual Tidewater Rosalind Boyle (757) 880-6422Wells Fargo Home Mortgage Teresa Rutherford (757) 873-3308
PeninsulaREALTORreg Jan - Feb 2016page 5
And Then Some
We do more than sell houses We do more than guide our clients and custom-ers through the intricacies of the home buying or selling process We do more than is required of us by state and national statute As REALTORSreg we do these thing and then some I have been reminded of this often over the past month
On February 2 the VAR Roadshow visited the VPAR building No song and dance this The Roadshow is a required Code of Ethics and procedures update for Associa-tion Board and Professional Standards Committee members At VPAR this is an annual requirement The Code and itrsquos enforcement is among the things that set Realtors apart from other licensees
At the VAR Legislative Conference in Richmond we were reminded of the importance of our RPAC investment and the positive effects it has on legislation that best serves not only us but home-owners buyers and sellers I was pleased and proud to join in being presented the ldquoTriple Crownrdquo trophy for meeting and exceeding our 2015 goals for participa-tion dollars raised and number of major
donors Thanks are due to 2015 Presi-dent Dewey Hutchins and RPAC chair Carla Carney for a job well done Among the fruits of our efforts is the ear and sup-port of our local General Assembly delega-tion who met with us in their offices and at a reception that was also attended by Governor McAuliffe
On February 23 we welcomed more than two dozen new members to VPAR They learned and I was reminded about the myriad of resources that are available to each of us from VPAR VAR and NAR I encourage you to take advantage of them
Finally take a look at our VPAR partners and affiliates Their involvement with the Association allows us to make more programs and educational opportunities available to us When you see them please thank them and if they provide a service that you can use please keep them in mind
Happy selling
Presidentrsquos Messageby Andy COHEN 2016 VPAR President
PeninsulaREALTORreg Jan - Feb 2016page 6
PeninsulaREALTORreg Membership By Cindy Anderson Director of Membership
WELCOME NEW REALTORSregClinton Allen Rose amp Womble Realty Company James Beal Abbitt Realty Company LLC
Charles Blount Preferred Properties Kim Borum Berkshire Hathaway HomeServices Towne Mindy Bowman Abbitt Realty Co LLC Benjamin Canty greg garrett realtycom
Monteiro Chamblee Willow Beach Real Estate LLC Shirley Charles greg garrett realtycomLelani Clayton Coldwell Banker Traditions John Gorman Keller Williams Elite - Pen
Marcela Graham Mid-Atlantic Residential Michelle Guthrie REMAX CapitalJillian Hooper Rose amp Womble Realty Company Ashley Horak Keller Williams Elite - Pen
Tresa Maynor Mid-Atlantic Residential Kathleen McKone Rose amp Womble Realty CompanyRebecca Montreuil-Silvis EXIT Real Estate Solutions Beth Posada Keller Williams Elite - Pen
Valerie Shelton Keller Williams Elite - Pen Ronnie Snipes Keller Williams Elite - PenJulie Strelow Fathom Realty Daniel Zarkowski Abbitt Realty Co LLC
RECENT TRANSFERSMaria Araiza Howard Hanna-William E Wood Edward V Bond Howard Hanna - William E Wood
Nancy S Bonnema Berkshire Hathaway HomeServices Towne RealtyChiffon Bradshaw Willow Beach Real Estate LLC Sammie Buckhanon Keller Williams Elite - Pen
Victoria Burland Brian F Saunders amp Associates Tracie Burton Keller Williams Elite - PenDeborah Eggers Keller Williams Elite - Pen Kimberly Gonzalez Keller Williams Elite - Pen
Sabrina Hack Keller Williams Elite - Pen Sabrina Hite REMAX PeninsulaKim Hoskins Keller Williams Elite - Pen Jessica Lucas Keller Williams Elite - Pen
Jon E May Fathom Realty Lorri McDonald Keller Williams Elite - PenKristi McKittrick Rose and Womble LLC Pamela Murphy ERA Real Estate Professionals
Jake OrsquoBryan Abbitt Realty Co LLC Tracy Prince Keller Williams Elite - PenPatsy G Sheppard Keller Williams Elite - Pen Carol A Sobieski CENTURY 21 Nachman Realty
David Tortolini Keller Williams Elite - PenRay Upright Howard Hanna - William E Wood Rachael Ward Brian F Saunders amp Associates
WELCOME NEW AFFILIATES Christopeher Walker CCW Construction
Michael Vernon Comparity LLC Sherry Thacker Old Point Mortgage LLC
adapted homes for severely injured post-911 veterans Each home is built with features that accommodate the needs of the veteran and offered mortgage-free so that the veteran can focus on recovery and rebuilding a healthy life Operating for 11 years Homes for Our Troops has built over 190 homes across the United States and currently has five projects underway in Virginia The organization is top-rated for financial stewardship and operations and works carefully with each veteran on homeownership readiness and responsibility
In August 2015 the Virginia Association of REALTORSreg became a regional corpo-rate partner of Homes for Our Troops in a lasting commitment to the housing needs of Virginia veteran and military families With hundreds of contributors and over $60000 in the first few months of part-nership REALTORSreg across the state are engaged in supporting the projects underway and the veterans in their com-munities
One of the first homes that Virginia REAL-TORSreg and HFOT built is located in York County The event during which the key is presented to the injured veteran will be held on March 6 2016 VPAR has been conducting outreach to area elected of-ficials inviting them to attend this special morning VPAR members can learn more details by visiting httpswwwhfotusaorgslate
PeninsulaREALTORreg Jan - Feb 2016page 7
The PeninsulaMonitor by Susan Gaston LEGISLATIVE CONSULTANT
Monthly Public Policy Report
ldquoTHE MONITORrdquo February 2016
Local Issues
Newport NewsVPAR is coordinating with the Wason Center for Public Policy at Christopher Newport University regard-ing public dissemination and media po-tential for the recently produced housing needs study and market needs analysis The study is a resource to the decision makers in the region particularly in the City and we want to position the Associa-tion as a leading organization in formulat-ing future housing policy
PoquosonMark your calendars for Friday May 6th The City is hosting its annual Residential REALTORreg Day where VPAR members can hear from City leaders tour the ldquoBull Islandrdquo and have a Fun Friday Been there done that Donrsquot worry VPAR is work-ing with the City to reformat the popular event so that it is new to even repeat at-tendees More to comehellip
York County Last year the Virginia Association of RE-ALTORSreg (VAR) partnered with Homes for our Troops (HFOT) a national non-profit organization that builds specially
Regional Issues
Local voters will go to the polls in Hamp-ton and Newport News on Tuesday May 3rd Hampton elections will include voting for Mayor and three At-Large City Council seats with Mayor George Wal-lace and Council Members Linda Curtis Billy Hobbs and Chris Snead all seeking re-election Other candidates likely will be coming forward before the March 15th filing deadline
In Newport News three incumbents will be seeking re-election to City Council In the Central District incumbent Pat Wood-bury will be challenged by Mike Mullin Councilman Rob Coleman in the North District currently is running unopposed as is South District Councilwoman Tina Vick
VPARrsquos Public Policy Committee will be conducting candidate interviews for the purposes of endorsing pro-housing pro-business candidates and supporting their campaigns with funds from the REAL-TORSreg Political Action Committee (RPAC) of Virginia
State Issues
At the time of this writing the 2016 General Assembly Session has reached the halfway mark and is in the final two weeks of legislative work REALTORreg bills are in strong shape as the House and
Senate finalize committee action
HB 577AgencyLicensing Law Revisions Passed the House 97-0 020316Passed the Senate 40-0 022516On Governorrsquos Deskhttplisvirginiagovcgi-binlegp604exe161+ful+HB567+pdf
HB 577 InterpleaderEscrow Accounts Passed the House 98-0 020216Reported from Senate Courts of Justice Committee 022416httplisvirginiagovcgi-binlegp604exe161+ful+HB577+pdf
HB 684POACOA Amendments Passed the House 99-0 021016Reported from the Senate General Laws amp Technology Committee 15-0 022216httplisvirginiagovcgi-binlegp604exe161+ful+HB684+pdf
SB 453Licensing of Home Inspectors Passed the Senate 30-9 012916Passed the House 100-0 022216On Governorrsquos Deskhttplisvirginiagovcgi-binlegp604exe161+ful+SB453+pdf
A more detailed legislative report will be forthcoming as more bills report out of Committee and move off of the floors
PeninsulaREALTORreg Jan - Feb 2016page 8
The PeninsulaMonitor Continues
PeninsulaREALTORreg Jan - Feb 2016page 9
2016 REALTOR Day on the HillRichmond VA
Virginia Peninsula Association of REALTORSawarded the 2015 RPAC Triple Crown
at the RPAC Awards Ceremony
Recognized for Meeting amp Exceeding2015 RPAC Fundrasing Goal
2015 RPAC Participation Goal2015 Major Investor Goal
Shown accepting award Dewey Hutchins 2015 President Carla Carney 2015 RPAC Chair Karla Grase RPAC Vice Chair Andy Cohen 2016 President Jim Wetzel CEO and
Bill White 2016 VAR President
PeninsulaREALTORreg Jan - Feb 2016page 10
The PeninsulaMarket by the Virginia Association of REALTORSreg
January 2016 Homes Sales Report Steady start to the Virginia housing market in new year - Median sales price up more
than 3 percent YOY - January 2016 residential real estate sales top $174 billionAccording to the Virginia Association of REALTORSreg (VAR) January 2016 Home Sales Report residential real estate sales in the first month of the year reflected typical indus-try seasonality Historically January is the slowest month for home sales and this year was particularly affected by a catastrophic winter weather event Despite significant disruption to market activity from Winter Storm Jonas volume declined by less than one percent year-over-year remaining near static with January 2015 Median sales price rose year-over-year contributing to a higher total transaction value than January 2015 The value of transactions in January 2016 exceeded $174 billion an outperformance of the same month last year despite near even sales numbers Median sales price for Janu-ary 2015 rose 326 percent from the same period last year from $237750 to $245500 and more than 7 percent from January 2014 ($228380) Year-over-year elevation indi-cates sustainable market improvement Read the full report here
PeninsulaREALTORreg Jan - Feb 2016page 11
Federal Issues
NAR TESTIFIES ON VETERANSrsquo HOUSING
On Feb 10 NAR 2016 Vice President Sherri Meadows testified before the House Veterans Affairs Subcommittee on Economic Opportunity at a hearing entitled ldquoA Review of VArsquos Loan Guaranty and Specially Adaptive Housing Grant Programs (SAH)rdquo The testimony focused on long-term REALTORreg support for the VA home loan guaranty and the benefits it provides our nationrsquos veterans According to the 2015 NAR Homebuyer and Seller Survey one in five buyers was a veteran or active duty service member NAR recommends all REALTORSreg ask their clients if they have ever served as this program provides zero-downpayment loans and favorable terms to eligible veterans
In the testimony Meadows asked for three enhancements to the program to make it even more useful for veterans 1) increase the loan limits for VA VA is not just another loan program - itrsquos an entitlement Veterans should not be prohibited from using their guaranty in high cost areas 2) ease restrictions on what the veteran can pay in the mortgage transactions Veterans are often disadvantaged when bidding on a home due to their inability to negotiate certain fees and 3) incentivize lenders to offer
an FHA 203k-type product for veterans This type of loan includes the costs of rehabilitation and repairs and could allow veterans better access to homes that need some work
NAR also supported increasing efficiency in the specially-adapted housing (SAH) grant programs and urged the Committee to make the VA loan as useful as possible for all our nationrsquos veterans so it may be a real benefit to those who have so bravely served our country
Watch the video here httpswwwyoutubecomwatchv=VW_srZ1yUcw
HOUSE PASSES VA LOAN BILL
In early February the House of Representatives passed legislation which included a provision to eliminate the cap on VA loan limits The bill HR 3016 ldquoVeterans Employment Education and Healthcare Improvement Actrdquo sponsored by Rep Wenstrup (R-OH) included an amendment added by Rep Zeldin (R-NY) in Committee that would allow veterans to purchase a home in high cost areas by eliminating the maximum loan amount on VA loans As stated in the accompanying report ldquoThe Committee is confident VArsquos current strict underwriting standards and low foreclosure rates will ensure that veterans still have the required good credit and income to qualify for the loan and that this change will not
PeninsulaREALTORreg Jan - Feb 2016page 12
The PeninsulaMonitor continued
PeninsulaREALTORreg Jan - Feb 2016page 13
result in a significant increased amount of foreclosuresrdquo NAR has long supported the VA home loan guaranty program and believes that as an entitlement program our nationrsquos veterans should have the freedom to purchase a home wherever they choose to live
Should you have questions on these or other issues or for additional details please contact Susan Gaston VPARrsquos Legislative Consultant at 757-871-1445 or at susangastongroupcom
PeninsulaREALTORreg Jan - Feb 2016page 14
The PeninsulaMonitor continued
Commuting Costs Important to Home Buyers
Even with plunging gas prices the cost of commuting to and from the office can be pricey (as well as stressful) But how much does that commute play into the homebuying process According to research from the National Association of REALTORSreg commuting costs defi-nitely come into play in searching for and purchasing that dream home in fact 30 percent of homebuyers purchased homes last year to cut down on commut-ing costsmdasha factor they cited as ldquovery importantrdquo Additionally 64 percent of buyers bought their home in part because it was convenient to their job this was so important that 23 percent of those buyers said they compromised on the price of their home to be physi-cally closer to work mak-ing more time for the other important things in their life such as spending time with friends and family
Take a look at NARrsquos 2015 Profile of Home Buyers and Sellers Read more about this topic on NARrsquos Econo-mistsrsquo Outlook blog
The PeninsulaMarket Tips
PeninsulaREALTORreg Jan - Feb 2016page 15
REALTORSreg amp RESPA
Are Realtors Getting Reli-gion
Most Realtors are aware of the anti-kick-back provi-sions of the
Real Estate Settlement Procedures Act ldquoNo man shall giveth Yea neither shall he receiveth any thing of value to God or Mammon pursuant to any covenant under the heavens that calleth for referrals of settlement servicesrdquo Book of RESPA 84
This well-known proverb articulates the received wisdom of Congress that refer-ral fees unnecessarily add to the cost of settlements and thus make housing less affordable for Godrsquos children Not every-one agrees however RESPA expert Phillip Schulman for instance has articulated a three-part test to determine the legality of any particular activity under RESPA First Does the activity make business sense that is does it tend to increase efficiency decrease waste and lower costs Second Does the activity benefit the parties to the transaction (here the brokers borrowers buyers and sellers) And finally Would the activity be permitted in almost any
other arena of commerce as accepted and ethical business practice If the answer to all three questions is yes then the activity says Schulman is almost certainly illegal under RESPA
The essence of Section 8 of RESPA seems to be that while the business expense of a targeted and highly effective referral fee paid by a lender to a referral source must be recovered by the lender in the form of higher loan costs the highly inefficient ad-vertising that replaces the referral source does not You can decide what to make of that argument
However we have to live with the RE-SPA prohibition against paid referrals as valueless acts that serve only to drive up costs But even RESPA acknowledges that it is legal to be paid for services actually performed up to the value of the services if the services are not referrals (which by definition have no value) And it is legal to refer business to an entity of which you are an owner as long as your compen-sation is based on your profit from the entity and not linked to the referral per se And thereon hangs an interesting tale
Lenders and other settlement service pro-viders long ago discovered that offering a piece of the pie to sources of referrals made good business sense Thus we have seen a proliferation of real estate broker-
Risk ManagementREALTORSreg and RESPAby Blake Hegeman CAE Deputy General Counsel
PeninsulaREALTORreg Jan - Feb 2016page 16
Risk ManagementREALTORSreg and RESPAby Blake Hegeman CAE Deputy General
lender lender-title company broker-settlement agency joint ventures over the years These couplings make great sense and afford the participants incentives to refer business to the joint venture partner This type of relationship does not violate RESPA if the benefit accruing to the referral source is strictly according to ownership interest in the benefited entity and the consumer to whom a referral is made is given the RESPA Miranda warning ndash basically that the person making the referral may benefit from it that the service will cost a certain amount and that the consumer might find the service cheaper elsewhere These relationships are legal and ethical and can be quite beneficial
Now because RESPA permits service pro-viders to pay for service actually performed some have tried ndash with varying degrees of
success ndash to skirt RESPA by paying more than the service is worth or for duplicative efforts or even for only nominal ndash or no -- service These ldquodisguisedrdquo referral fees are illegal and much despised by HUD who seeketh after them like the righteous man seeketh after salvation
That brings us to a more recent phenom-enon the efforts of some mortgage brokers and lenders to avoid the strictures of RESPA by hiring referral sources as employees and paying them for work they do as employees Of course much or all of that work will be for clients referred by the employee but if the employeremployee relationship is bona fide and the salary is for -- and commen-surate with -- services actually performed the relationship can be legal Itrsquos likely that HUD will apply something like the IRS test to determine whether the employee really is an employee and virtually everyone acknowledges that merely giving the ldquoem-ployeerdquo a W-2 and calling her an employee will not be enough
PeninsulaREALTORreg Jan - Feb 2016page 17
Risk ManagementREALTORSreg and RESPAby Blake Hegeman CAE Deputy General
We also need to be aware of another limita-tion imposed by Virginia law even when the labyrinth of RESPA has been negotiated The Virginia Mortgage Lender and Bro-ker Act provides in Section 61-422 that a person may not receive a fee as a mortgage broker and a real estate broker for services performed in the same transaction unless the person was licensed and regularly engaged in mortgage brokerage in Virginia as of Feb-ruary 1989 This resolution of a turf battle between mortgage and real estate brokers was weakened by a provision permitting real estate brokers (but not salespersons) who are owners of a real estate firm to own
an interest in a mortgage lender or broker and to profit from such investment and be compensated for services actually performed for those entities But the prohibition on dual brokerage fees to non-grandfathered persons persists
These are only a few examples from the veritable patchwork quilt of efforts to overcome RESPArsquos prohibition on referral fees Perhaps what Realtors need most to be aware of is that HUD approaches what it sees as RESPA violations with a fervent zeal displayed few other places If you are look-ing for a way to receive a fee for referring settlement business look for another way to make a buck If yoursquore willing to work le-gitimately for a service provider and get paid for the value of what you do -- and no more ndash there are opportunities out there awaiting
NEW Womens Council of REALTORSreg Coastal Chapter at VPAR
PeninsulaREALTORreg Jan - Feb 2016page 18
PeninsulaREALTORreg UPCOMING EVENTSby Jo McNamara Daly Director of education and events
Save The Dates
March 5th - OSC Awards Banquet at City Center
March 22nd - Lunch amp Learn SEO
April 12th - VRLTA Seminar with Chip Dicks
April 19th - General Membership Meeting at VPAR
May 9th - 14th - NAR Legisilative Conference in DC
PeninsulaREALTORreg Jan - Feb 2016page 19
Ready To Get StartedCONTACT ATLANTIC BAY TODAY
For examplehellip A borrower age 72 with a purchase price of $200000 would require ONLY $92000 at closing for the Reverse Mortgage
Homeowner continues to pay insurance and property taxes live in and maintain home Home must be primary residence Program not currently available in all states People portrayed are professional models and are used for illustrative purposes only Terms and conditions subject to change without notice Consult your tax advisor before choosing a reverse mortgage
Clients Mustbull Be 62 or older to qualify (at least one person-can have younger spouse as non-borrower to
qualify)
bull Own your home outright (or have a low mortgage balance that can be paid off at closing with proceeds from the reverse loan or have a large down payment to purchase)
bull Have the financial resources to pay ongoing property charges including taxes and insurance
bull Live in the home
You donrsquot make payments while you live in the house but the loan and interest come due when you sell move out for 12 months or more or last person leaves the house permanently
DAWN ST CLAIR PHILLIPSSr Mortgage BankerNMLS 115936757-715-5733dawnphillipsatlanticbaycomatlanticbaycomdawnphillipscom
Did you knowYOU CAN USE A REVERSE MORTGAGE TO PURCHASE A HOME
ARE YOU CONSIDERING MOVING CLOSER TO YOUR FAMILY OR DOWNSIZING TO A HOME THAT BETTER SUITS YOUR NEEDSOR LOOKING TO STAY IN YOUR HOME AND NEED ADDITIONAL INCOME
PeninsulaREALTORreg Jan - Feb 2016page 20
PeninsulaREALTORreg Jan - Feb 2016page 21
PeninsulaREALTORreg Jan - Feb 2016page 22
The PeninsulaRealEstateSchoolby Jo Mcnamara Daly Director of Education amp Events
2016 Continuing Education Classes Location
VPAR Building 1001 North Campus Parkway
Hampton VA 23666 757-599-5222
Payment MUST be made at time of registration Register online at membersvparorg and click on Member Service Center to login or complete this form and fax to 757-596-3911 or email to jovparorg VPAR reserves the right to cancel a class if less than 10 people are registered 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 12 Tuesday July 12 Tuesday Feb 9 Tuesday Aug 9 Tuesday Mar 8 Tuesday Sept 13 Tuesday Apr 5 Tuesday Oct 11 Tuesday May 10 Tuesday Nov 8 Tuesday June 21 Tuesday Dec 6
All 8 Hour Classes are from 830 ammdash530 pm
Code of Ethics (Meets NAR Quadrennial Requirements) amp Code of Conduct
Fair Housing Legal Updates amp Emerging Trends (Law) Flood Insurance amp Flood Map Instruction Real Estate Contracts Real Estate Agency
8-HR Elective CE Class Dates
Thursday Feb 16 Tuesday Sept 20 Tuesday May 17 Tuesday Nov 15
Anti-Trust Disclosures Professionalism Safety Do-Nots
3-HR Code of Ethics Course
Thursday November 3rd from 1ndash 4 pm Thursday December 8th from 1-4 pm
More dates to be added soon Meets NAR Quadrennial Requirements
Peninsula Real Estate School owned and operated by
Virginia Peninsula Association of REALTORSreg
Registration Form
Name Company Address City State Zip Phone Email License ______ Exp Date _
Method of Payment
Check Invoice Office Visa MasterCard AMX Discover Card Name on Card ____________________________ Credit Card _____ Exp Date Signature _____ Name on Card _________________________ Amount Due (check appropriate box) 8-Hour Course VPAR Member $50 8-Hour Course Non-Member $60 3-Hour Ethics Course VPAR Member $30 3-Hour Ethics Course VPAR Non-Member $35
PeninsulaREALTORreg Jan - Feb 2016page 23
Chip Dicks VAR Legislative
Counsel
The Virginia Peninsula Association of REALTORSreg in cooperation with
The Virginia Association of REALTORSreg presentshellip
VRLTA Update with Chip Dicks
Get the information you need on the updatedVirginia Residential Landlord Tenant Act
Tuesday April 12th 2016 900 am ndash 400 pm
_________________
$12500 per member $13000 per non-member
Virginia Peninsula Association of REALTORSreg 1001 North Campus Parkway Hampton 23666
Sponsor LUNCH INCLUDED
VRLTA Update with Chip Dicks ndash April 12th 2016Pending REB Approval for 3 Hours Legal Update amp 3 Hours Real Estate Related CE
Pending REB Approval for 2 Hours of Current Industry IssuesTrends Course will be submitted for approval at the end of the general assembly session to include anyall changes in the VRLTA
NAME FIRM
ADDRESS
CITY STATE ZIP
PHONE E-MAIL
Method of PaymentCheck ____ Visa MasterCard____ Discover___ AMX____
Credit Card Exp date
Signature(Your signature indicates acceptance of VPAR registration policy and authorization of credit card charges)
Name on credit card_______________________________________
PLEASE RETURN TO VPAR AT FAX NUMBER 757-596-3911 MAIL TO VPAR 1001 North Campus Parkway Hampton VA 23666 or register online at membersvparorg
QUESTIONS CALL 757-599-5222Cancellations must be received within 48 hours of the event to receive full refund On-site registration fee is $135 Please notify us in advance if you have a disability that requires special services
bull Get up to speed on the recent changes to the Virginia Residential Landlord and Tenant Act
bull Designed for both real estate brokers and sales persons this course offers a detailed review of lease applications
bull A ldquohow tordquo guide for broker agent compliance bull The awareness and information you need to protect your
business
Approved for
6 hrs CE and 2 hrs PL Credit
PeninsulaREALTORreg Jan - Feb 2016page 24
REINMLScom ndash A Valuable Member Resource
This year REIN unveiled a new and improved REINMLScom website If you havenrsquot logged in yet please be sure to do so and take advantage of all the site has to offer
If you have never been to REINrsquos member website and are wondering what it offers think of it as a ldquohubrdquo to all things REIN‐related From REINMLScom you can access Fusion and Matrix find market statistics and graphs the current monthrsquos training calendar PDF copies of REINrsquos contracts and forms and much more You can even access your membership account to review and pay invoices online
The new mobile friendly website offers you a fresh look eye‐catching graphics and improved navigation that makes information easy to find Plus two great new featureshellip
A lsquoSYSTEM STATUSrsquo section has been added to the home page of the website to identify when REINrsquos MLS systems and programs are experiencing known issues such as updates service interruptions or down time
The second new feature is lsquoASK REINrsquo ndash a robust technical support module ASK REIN allows you to search online documentation that can help you troubleshoot commonly asked technical questions and if you canrsquot find the answers you are searching for then you can lsquoSubmit a Support Requestrsquo to REINrsquos Tech Support Department directly from the website
To access the full benefits of REINMLScom members must log into the site using their REIN ID and a password If you have not already done so please establish a password for this website by clicking on lsquoChangeForgot Passwordrsquo located next to the green Log In button in the top right corner of the screen Then check your email for a link to reset your password If you still cannot log into the site please contact REINrsquos Tech Support at 7575317901 or supportreininccom
Check it out today wwwREINMLScom
PeninsulaREALTORreg Jan - Feb 2016page 25
Scenes From Our January Social At BJrsquos at Tech Center amp February at UNOrsquos
THANKS TO OUR ALL SPONSORS MARES Exterminating AT BJrsquos andFidelity Bank Mortgage at UnOrsquos
Vpar SOCIAL HAPPENINGS
PeninsulaREALTORreg Jan - Feb 2016page 26
The Virginia Peninsula Association of REALTORSreg presentshellip
The Accredited Buyer Representative Designation
(Approved for 13HRS CE credit)
Instructor Pat Snyder
Accredited Buyer Representative Designation Course ndash April 7 amp 8 2016
NAME FIRM
ADDRESS MEMBER
CITY STATE ZIP
PHONE E-MAIL
Method of Payment Check
Credit Card Exp date
Signature (Your signature indicates acceptance of VPAR registration policy and authorization of credit card charges) Real Estate License Exp date
PLEASE RETURN TO VPAR AT FAX NUMBER 757-596-3911 MAIL TO VPAR 1001 North Campus Parkway Hampton VA 23666 or register online at membersvparorg
QUESTIONS CALL 757-599-5222 Cancellations must be received within 48- business hours of course to receive a refund Registrations are
non-transferable On-site late registration fee is $325 VPAR RESERVES THE RIGHT TO CANCEL THE COURSE IF MINIMUM REGISTRATIONS ARE NOT MET
Please notify us in advance if you have a disability that requires special services
Thursday amp Friday April 7 amp 8 2016 830 am ndash 500 pm
APRIL IS A SPECIAL DISCOUNT MONTH (REGULAR MEMBER RATE IS $295)
VPAR Headquarters Training Room A 1001 North Campus Parkway Hampton VA 23666 Early Bird Pricing before April 1 by NOON
Members $255 Non-Members $275
Register after Members $275 Non-Members $300
On-site registration fee is $325
PeninsulaREALTORreg Jan - Feb 2016page 27
VPAR Peninsula Partners include the following loyal firms who have stepped up to support VPARevents and education throughout the year This program reflects a commitment to provide REALTORreg
members with the best business environment while connecting to industry professionals whoprovide valuable products and services It is designed to create a unique partnership between
sponsors and the Association where both members and sponsors benefit greatly through the abilityto network exchange ideas and conduct business
PeninsulaREALTORreg Jan - Feb 2016page 28
VPAR Members Supporting Our Communities atThe Poquoson Neighborhood Food Distribution
for the Peninsula Food Bank
PeninsulaREALTORreg Jan - Feb 2016page 29
CONTACT A LOCAL LOAN OFFICER AT 1-877-573-2324gt KIMBERLY CRESS EXT 21238gt LASHEKA PEARSON-PARKER EXT 21210gt NATASHA THOMAS EXT 21104
Federally insured by NCUA 100 financing loans include an additional funding fee which may be financed up to the maximum loan amount Product features subject to approval copy 2016 Navy Federal NFCU 13490 (2-16)
THEYrsquoLL ENJOY
gt no application feegt 100 financing optionsgt up to 6 seller contribution allowed
HELP YOUR CLIENTS UNLOCK THE DOOR TO THEIR FIRST HOME
13490_Peninsula_Realtor_Mag_Ad_2_162indd 1 2416 202 PM
PeninsulaREALTORreg Jan - Feb 2016page 30
smile you can have 2-10 Home Buyers Warrantyreg
on your team with our industry leading Home
Warranty Service Agreement
bull Over 55 million homes protected
bull Over 975 of claims paid
bull A Rating with the Better Business Bureau (BBB)
Carolyn Ricketts Account Executive5716068051| cricketts2-10com
Defeated a 500 Increase We helped to defeat a budget amendment that would have increased the deductible that property owners including
YOUR clients pay to have their leaking underground oil tanks cleaned up and repaired by 500 The current $500 deductible was proposed to go up to $2500
The petroleum tank increase was a budget amendment
Prison time 1 to 6 years We added a felony charge to any criminal who lures or entices a REALTORreg to a property with the intent to do harm
The added felony will increase a criminalrsquos sentence by up to 6 years The 1-6 years are the statutory sentencing guidelines
Save $150 - $500hr on attorneysrsquo fees We continued to refine legislation that allows property managers to represent your clients in General District court
without needing an attorney So how much would your attorney charge per hour Typically attorney fees range from $150 - $500hr
$12000 back to consumers Under a new law that VAR drafted we have made it easier for Virginia consumers who have received a court judgment to
collect damages from the Real Estate Transaction Recovery Fund The average claim is approximately $12000 The $12000 figure is an estimate by the DPOR finance staff on the average claim that comes before the Board
Wiped out $200per Sign Fines We worked with a state legislator to prevent a proposal creating daily fines of $200 for any sign in any public right of
way How often do you use such signs for your listings 10 days for 1 sign = $2000 The $200 per sign was the language in the proposed bill VAR was able to stop
Keep RPAC of Virginia working for you Without your support RPAC cannot remain a powerful voice on key legislative issues Your dollars help us make our voice heard
Visit VirginiaRealtorsChoosecom
RPAC of VIRGINIA VICTORIES BY THE NUMBER$
RPAC makes a difference Just look at the numbers
PeninsulaREALTORreg Jan - Feb 2016page 32
January 2016 Virginia residential real estate sales showed typical industry seasonality January tends to be the slowest month for home sales and this year was particularly affected by catastrophic Winter Storm Jonas In spite of blizzard conditions that halted market activity for several days sales volume was nearly on par with the same month last year The value of transactions in January 2016 exceeded $174 billion an out performance of the previous January Median sales price rose 326 percent year-over-year and more than 7 per-cent from January 2014 Year-over-year elevation indicates sustainable market improvement Click here for the complete report httptinyurlcomj7k254s
Full service marketing amp innovative mobile platformsall designed with your business in mind
NMLS 176544 Member FDIC
MonarchWhere homebuying dreams take flight
PeninsulaREALTORreg Jan - Feb 2016page 33
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAIL
Featuring250 characters25 per lineEast WilmingtonRutherford Grand LakesArington Hills CoolidgeElrot Florence GilbertGold Canyon King andQueen Cedar CrestBristol Newport JacksonMadison ElbertvilleBarrowALL ACROSS NORTH AMERICA
THERealEstateBookreg
Volume 00 Issue 00
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAILTo see a sample listing on your smartphone Text T312634 to 85377
Learn more at RealEstateBookMediaKitcomFor FREE MAGAZINES or to ADVERTISE visit our website or call 800-841-3401
Bill McFallMarket Representative
The Market Leader in Hampton Roads VA amp North America
780 Pilot House Drive Building 400B Newport News VA 23606
office 757-873-6731 bull cell 757-286-6731 bull fax 757-273-8275email billmcfallcoxnet
wwwRealEstateBookHRcom
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Interested in advertising your company Click here for our 2016 Adverstising Information
or call us at 757-599-5222 today
PeninsulaREALTORreg Jan - Feb 2016page 34
The PeninsulaPerspective by Jim Wetzel RCE CEO
Nobody will ever deprive the American people of the right to vote except the American people themselves and the only way they could do this is by not voting
Franklin D Roosevelt
This past week I was honored to attend our REALTOR Legislative Meetings in Richmond VA together with our members arriving from all corners of the commonwealth We arrived with a common mission of taking our message to our legislators on the many ways we can improve the real estate industry and homeownership opportunities in our communities
With pride our members spoke of the improvements in the real estate indus-
try over the past year and highlighted our recommendations on how together REALTORS and our legislative partners can make things even better in the years ahead We highlighted important chang-es that we felt would make not only the industry better but the lives of all who call Virginia their home
We spoke together and our legislators listened We made a difference
On March 1st the process of selecting our next President of the United States begins We have listened to the debates been inundated by the media heard from the political commentators and heard the endorsements
Now it is time for us to speak We can make a difference one vote at a time
PeninsulaREALTORreg Jan - Feb 2016page 35
PeninsulaREALTORreg Jan - Feb 2016page 5
And Then Some
We do more than sell houses We do more than guide our clients and custom-ers through the intricacies of the home buying or selling process We do more than is required of us by state and national statute As REALTORSreg we do these thing and then some I have been reminded of this often over the past month
On February 2 the VAR Roadshow visited the VPAR building No song and dance this The Roadshow is a required Code of Ethics and procedures update for Associa-tion Board and Professional Standards Committee members At VPAR this is an annual requirement The Code and itrsquos enforcement is among the things that set Realtors apart from other licensees
At the VAR Legislative Conference in Richmond we were reminded of the importance of our RPAC investment and the positive effects it has on legislation that best serves not only us but home-owners buyers and sellers I was pleased and proud to join in being presented the ldquoTriple Crownrdquo trophy for meeting and exceeding our 2015 goals for participa-tion dollars raised and number of major
donors Thanks are due to 2015 Presi-dent Dewey Hutchins and RPAC chair Carla Carney for a job well done Among the fruits of our efforts is the ear and sup-port of our local General Assembly delega-tion who met with us in their offices and at a reception that was also attended by Governor McAuliffe
On February 23 we welcomed more than two dozen new members to VPAR They learned and I was reminded about the myriad of resources that are available to each of us from VPAR VAR and NAR I encourage you to take advantage of them
Finally take a look at our VPAR partners and affiliates Their involvement with the Association allows us to make more programs and educational opportunities available to us When you see them please thank them and if they provide a service that you can use please keep them in mind
Happy selling
Presidentrsquos Messageby Andy COHEN 2016 VPAR President
PeninsulaREALTORreg Jan - Feb 2016page 6
PeninsulaREALTORreg Membership By Cindy Anderson Director of Membership
WELCOME NEW REALTORSregClinton Allen Rose amp Womble Realty Company James Beal Abbitt Realty Company LLC
Charles Blount Preferred Properties Kim Borum Berkshire Hathaway HomeServices Towne Mindy Bowman Abbitt Realty Co LLC Benjamin Canty greg garrett realtycom
Monteiro Chamblee Willow Beach Real Estate LLC Shirley Charles greg garrett realtycomLelani Clayton Coldwell Banker Traditions John Gorman Keller Williams Elite - Pen
Marcela Graham Mid-Atlantic Residential Michelle Guthrie REMAX CapitalJillian Hooper Rose amp Womble Realty Company Ashley Horak Keller Williams Elite - Pen
Tresa Maynor Mid-Atlantic Residential Kathleen McKone Rose amp Womble Realty CompanyRebecca Montreuil-Silvis EXIT Real Estate Solutions Beth Posada Keller Williams Elite - Pen
Valerie Shelton Keller Williams Elite - Pen Ronnie Snipes Keller Williams Elite - PenJulie Strelow Fathom Realty Daniel Zarkowski Abbitt Realty Co LLC
RECENT TRANSFERSMaria Araiza Howard Hanna-William E Wood Edward V Bond Howard Hanna - William E Wood
Nancy S Bonnema Berkshire Hathaway HomeServices Towne RealtyChiffon Bradshaw Willow Beach Real Estate LLC Sammie Buckhanon Keller Williams Elite - Pen
Victoria Burland Brian F Saunders amp Associates Tracie Burton Keller Williams Elite - PenDeborah Eggers Keller Williams Elite - Pen Kimberly Gonzalez Keller Williams Elite - Pen
Sabrina Hack Keller Williams Elite - Pen Sabrina Hite REMAX PeninsulaKim Hoskins Keller Williams Elite - Pen Jessica Lucas Keller Williams Elite - Pen
Jon E May Fathom Realty Lorri McDonald Keller Williams Elite - PenKristi McKittrick Rose and Womble LLC Pamela Murphy ERA Real Estate Professionals
Jake OrsquoBryan Abbitt Realty Co LLC Tracy Prince Keller Williams Elite - PenPatsy G Sheppard Keller Williams Elite - Pen Carol A Sobieski CENTURY 21 Nachman Realty
David Tortolini Keller Williams Elite - PenRay Upright Howard Hanna - William E Wood Rachael Ward Brian F Saunders amp Associates
WELCOME NEW AFFILIATES Christopeher Walker CCW Construction
Michael Vernon Comparity LLC Sherry Thacker Old Point Mortgage LLC
adapted homes for severely injured post-911 veterans Each home is built with features that accommodate the needs of the veteran and offered mortgage-free so that the veteran can focus on recovery and rebuilding a healthy life Operating for 11 years Homes for Our Troops has built over 190 homes across the United States and currently has five projects underway in Virginia The organization is top-rated for financial stewardship and operations and works carefully with each veteran on homeownership readiness and responsibility
In August 2015 the Virginia Association of REALTORSreg became a regional corpo-rate partner of Homes for Our Troops in a lasting commitment to the housing needs of Virginia veteran and military families With hundreds of contributors and over $60000 in the first few months of part-nership REALTORSreg across the state are engaged in supporting the projects underway and the veterans in their com-munities
One of the first homes that Virginia REAL-TORSreg and HFOT built is located in York County The event during which the key is presented to the injured veteran will be held on March 6 2016 VPAR has been conducting outreach to area elected of-ficials inviting them to attend this special morning VPAR members can learn more details by visiting httpswwwhfotusaorgslate
PeninsulaREALTORreg Jan - Feb 2016page 7
The PeninsulaMonitor by Susan Gaston LEGISLATIVE CONSULTANT
Monthly Public Policy Report
ldquoTHE MONITORrdquo February 2016
Local Issues
Newport NewsVPAR is coordinating with the Wason Center for Public Policy at Christopher Newport University regard-ing public dissemination and media po-tential for the recently produced housing needs study and market needs analysis The study is a resource to the decision makers in the region particularly in the City and we want to position the Associa-tion as a leading organization in formulat-ing future housing policy
PoquosonMark your calendars for Friday May 6th The City is hosting its annual Residential REALTORreg Day where VPAR members can hear from City leaders tour the ldquoBull Islandrdquo and have a Fun Friday Been there done that Donrsquot worry VPAR is work-ing with the City to reformat the popular event so that it is new to even repeat at-tendees More to comehellip
York County Last year the Virginia Association of RE-ALTORSreg (VAR) partnered with Homes for our Troops (HFOT) a national non-profit organization that builds specially
Regional Issues
Local voters will go to the polls in Hamp-ton and Newport News on Tuesday May 3rd Hampton elections will include voting for Mayor and three At-Large City Council seats with Mayor George Wal-lace and Council Members Linda Curtis Billy Hobbs and Chris Snead all seeking re-election Other candidates likely will be coming forward before the March 15th filing deadline
In Newport News three incumbents will be seeking re-election to City Council In the Central District incumbent Pat Wood-bury will be challenged by Mike Mullin Councilman Rob Coleman in the North District currently is running unopposed as is South District Councilwoman Tina Vick
VPARrsquos Public Policy Committee will be conducting candidate interviews for the purposes of endorsing pro-housing pro-business candidates and supporting their campaigns with funds from the REAL-TORSreg Political Action Committee (RPAC) of Virginia
State Issues
At the time of this writing the 2016 General Assembly Session has reached the halfway mark and is in the final two weeks of legislative work REALTORreg bills are in strong shape as the House and
Senate finalize committee action
HB 577AgencyLicensing Law Revisions Passed the House 97-0 020316Passed the Senate 40-0 022516On Governorrsquos Deskhttplisvirginiagovcgi-binlegp604exe161+ful+HB567+pdf
HB 577 InterpleaderEscrow Accounts Passed the House 98-0 020216Reported from Senate Courts of Justice Committee 022416httplisvirginiagovcgi-binlegp604exe161+ful+HB577+pdf
HB 684POACOA Amendments Passed the House 99-0 021016Reported from the Senate General Laws amp Technology Committee 15-0 022216httplisvirginiagovcgi-binlegp604exe161+ful+HB684+pdf
SB 453Licensing of Home Inspectors Passed the Senate 30-9 012916Passed the House 100-0 022216On Governorrsquos Deskhttplisvirginiagovcgi-binlegp604exe161+ful+SB453+pdf
A more detailed legislative report will be forthcoming as more bills report out of Committee and move off of the floors
PeninsulaREALTORreg Jan - Feb 2016page 8
The PeninsulaMonitor Continues
PeninsulaREALTORreg Jan - Feb 2016page 9
2016 REALTOR Day on the HillRichmond VA
Virginia Peninsula Association of REALTORSawarded the 2015 RPAC Triple Crown
at the RPAC Awards Ceremony
Recognized for Meeting amp Exceeding2015 RPAC Fundrasing Goal
2015 RPAC Participation Goal2015 Major Investor Goal
Shown accepting award Dewey Hutchins 2015 President Carla Carney 2015 RPAC Chair Karla Grase RPAC Vice Chair Andy Cohen 2016 President Jim Wetzel CEO and
Bill White 2016 VAR President
PeninsulaREALTORreg Jan - Feb 2016page 10
The PeninsulaMarket by the Virginia Association of REALTORSreg
January 2016 Homes Sales Report Steady start to the Virginia housing market in new year - Median sales price up more
than 3 percent YOY - January 2016 residential real estate sales top $174 billionAccording to the Virginia Association of REALTORSreg (VAR) January 2016 Home Sales Report residential real estate sales in the first month of the year reflected typical indus-try seasonality Historically January is the slowest month for home sales and this year was particularly affected by a catastrophic winter weather event Despite significant disruption to market activity from Winter Storm Jonas volume declined by less than one percent year-over-year remaining near static with January 2015 Median sales price rose year-over-year contributing to a higher total transaction value than January 2015 The value of transactions in January 2016 exceeded $174 billion an outperformance of the same month last year despite near even sales numbers Median sales price for Janu-ary 2015 rose 326 percent from the same period last year from $237750 to $245500 and more than 7 percent from January 2014 ($228380) Year-over-year elevation indi-cates sustainable market improvement Read the full report here
PeninsulaREALTORreg Jan - Feb 2016page 11
Federal Issues
NAR TESTIFIES ON VETERANSrsquo HOUSING
On Feb 10 NAR 2016 Vice President Sherri Meadows testified before the House Veterans Affairs Subcommittee on Economic Opportunity at a hearing entitled ldquoA Review of VArsquos Loan Guaranty and Specially Adaptive Housing Grant Programs (SAH)rdquo The testimony focused on long-term REALTORreg support for the VA home loan guaranty and the benefits it provides our nationrsquos veterans According to the 2015 NAR Homebuyer and Seller Survey one in five buyers was a veteran or active duty service member NAR recommends all REALTORSreg ask their clients if they have ever served as this program provides zero-downpayment loans and favorable terms to eligible veterans
In the testimony Meadows asked for three enhancements to the program to make it even more useful for veterans 1) increase the loan limits for VA VA is not just another loan program - itrsquos an entitlement Veterans should not be prohibited from using their guaranty in high cost areas 2) ease restrictions on what the veteran can pay in the mortgage transactions Veterans are often disadvantaged when bidding on a home due to their inability to negotiate certain fees and 3) incentivize lenders to offer
an FHA 203k-type product for veterans This type of loan includes the costs of rehabilitation and repairs and could allow veterans better access to homes that need some work
NAR also supported increasing efficiency in the specially-adapted housing (SAH) grant programs and urged the Committee to make the VA loan as useful as possible for all our nationrsquos veterans so it may be a real benefit to those who have so bravely served our country
Watch the video here httpswwwyoutubecomwatchv=VW_srZ1yUcw
HOUSE PASSES VA LOAN BILL
In early February the House of Representatives passed legislation which included a provision to eliminate the cap on VA loan limits The bill HR 3016 ldquoVeterans Employment Education and Healthcare Improvement Actrdquo sponsored by Rep Wenstrup (R-OH) included an amendment added by Rep Zeldin (R-NY) in Committee that would allow veterans to purchase a home in high cost areas by eliminating the maximum loan amount on VA loans As stated in the accompanying report ldquoThe Committee is confident VArsquos current strict underwriting standards and low foreclosure rates will ensure that veterans still have the required good credit and income to qualify for the loan and that this change will not
PeninsulaREALTORreg Jan - Feb 2016page 12
The PeninsulaMonitor continued
PeninsulaREALTORreg Jan - Feb 2016page 13
result in a significant increased amount of foreclosuresrdquo NAR has long supported the VA home loan guaranty program and believes that as an entitlement program our nationrsquos veterans should have the freedom to purchase a home wherever they choose to live
Should you have questions on these or other issues or for additional details please contact Susan Gaston VPARrsquos Legislative Consultant at 757-871-1445 or at susangastongroupcom
PeninsulaREALTORreg Jan - Feb 2016page 14
The PeninsulaMonitor continued
Commuting Costs Important to Home Buyers
Even with plunging gas prices the cost of commuting to and from the office can be pricey (as well as stressful) But how much does that commute play into the homebuying process According to research from the National Association of REALTORSreg commuting costs defi-nitely come into play in searching for and purchasing that dream home in fact 30 percent of homebuyers purchased homes last year to cut down on commut-ing costsmdasha factor they cited as ldquovery importantrdquo Additionally 64 percent of buyers bought their home in part because it was convenient to their job this was so important that 23 percent of those buyers said they compromised on the price of their home to be physi-cally closer to work mak-ing more time for the other important things in their life such as spending time with friends and family
Take a look at NARrsquos 2015 Profile of Home Buyers and Sellers Read more about this topic on NARrsquos Econo-mistsrsquo Outlook blog
The PeninsulaMarket Tips
PeninsulaREALTORreg Jan - Feb 2016page 15
REALTORSreg amp RESPA
Are Realtors Getting Reli-gion
Most Realtors are aware of the anti-kick-back provi-sions of the
Real Estate Settlement Procedures Act ldquoNo man shall giveth Yea neither shall he receiveth any thing of value to God or Mammon pursuant to any covenant under the heavens that calleth for referrals of settlement servicesrdquo Book of RESPA 84
This well-known proverb articulates the received wisdom of Congress that refer-ral fees unnecessarily add to the cost of settlements and thus make housing less affordable for Godrsquos children Not every-one agrees however RESPA expert Phillip Schulman for instance has articulated a three-part test to determine the legality of any particular activity under RESPA First Does the activity make business sense that is does it tend to increase efficiency decrease waste and lower costs Second Does the activity benefit the parties to the transaction (here the brokers borrowers buyers and sellers) And finally Would the activity be permitted in almost any
other arena of commerce as accepted and ethical business practice If the answer to all three questions is yes then the activity says Schulman is almost certainly illegal under RESPA
The essence of Section 8 of RESPA seems to be that while the business expense of a targeted and highly effective referral fee paid by a lender to a referral source must be recovered by the lender in the form of higher loan costs the highly inefficient ad-vertising that replaces the referral source does not You can decide what to make of that argument
However we have to live with the RE-SPA prohibition against paid referrals as valueless acts that serve only to drive up costs But even RESPA acknowledges that it is legal to be paid for services actually performed up to the value of the services if the services are not referrals (which by definition have no value) And it is legal to refer business to an entity of which you are an owner as long as your compen-sation is based on your profit from the entity and not linked to the referral per se And thereon hangs an interesting tale
Lenders and other settlement service pro-viders long ago discovered that offering a piece of the pie to sources of referrals made good business sense Thus we have seen a proliferation of real estate broker-
Risk ManagementREALTORSreg and RESPAby Blake Hegeman CAE Deputy General Counsel
PeninsulaREALTORreg Jan - Feb 2016page 16
Risk ManagementREALTORSreg and RESPAby Blake Hegeman CAE Deputy General
lender lender-title company broker-settlement agency joint ventures over the years These couplings make great sense and afford the participants incentives to refer business to the joint venture partner This type of relationship does not violate RESPA if the benefit accruing to the referral source is strictly according to ownership interest in the benefited entity and the consumer to whom a referral is made is given the RESPA Miranda warning ndash basically that the person making the referral may benefit from it that the service will cost a certain amount and that the consumer might find the service cheaper elsewhere These relationships are legal and ethical and can be quite beneficial
Now because RESPA permits service pro-viders to pay for service actually performed some have tried ndash with varying degrees of
success ndash to skirt RESPA by paying more than the service is worth or for duplicative efforts or even for only nominal ndash or no -- service These ldquodisguisedrdquo referral fees are illegal and much despised by HUD who seeketh after them like the righteous man seeketh after salvation
That brings us to a more recent phenom-enon the efforts of some mortgage brokers and lenders to avoid the strictures of RESPA by hiring referral sources as employees and paying them for work they do as employees Of course much or all of that work will be for clients referred by the employee but if the employeremployee relationship is bona fide and the salary is for -- and commen-surate with -- services actually performed the relationship can be legal Itrsquos likely that HUD will apply something like the IRS test to determine whether the employee really is an employee and virtually everyone acknowledges that merely giving the ldquoem-ployeerdquo a W-2 and calling her an employee will not be enough
PeninsulaREALTORreg Jan - Feb 2016page 17
Risk ManagementREALTORSreg and RESPAby Blake Hegeman CAE Deputy General
We also need to be aware of another limita-tion imposed by Virginia law even when the labyrinth of RESPA has been negotiated The Virginia Mortgage Lender and Bro-ker Act provides in Section 61-422 that a person may not receive a fee as a mortgage broker and a real estate broker for services performed in the same transaction unless the person was licensed and regularly engaged in mortgage brokerage in Virginia as of Feb-ruary 1989 This resolution of a turf battle between mortgage and real estate brokers was weakened by a provision permitting real estate brokers (but not salespersons) who are owners of a real estate firm to own
an interest in a mortgage lender or broker and to profit from such investment and be compensated for services actually performed for those entities But the prohibition on dual brokerage fees to non-grandfathered persons persists
These are only a few examples from the veritable patchwork quilt of efforts to overcome RESPArsquos prohibition on referral fees Perhaps what Realtors need most to be aware of is that HUD approaches what it sees as RESPA violations with a fervent zeal displayed few other places If you are look-ing for a way to receive a fee for referring settlement business look for another way to make a buck If yoursquore willing to work le-gitimately for a service provider and get paid for the value of what you do -- and no more ndash there are opportunities out there awaiting
NEW Womens Council of REALTORSreg Coastal Chapter at VPAR
PeninsulaREALTORreg Jan - Feb 2016page 18
PeninsulaREALTORreg UPCOMING EVENTSby Jo McNamara Daly Director of education and events
Save The Dates
March 5th - OSC Awards Banquet at City Center
March 22nd - Lunch amp Learn SEO
April 12th - VRLTA Seminar with Chip Dicks
April 19th - General Membership Meeting at VPAR
May 9th - 14th - NAR Legisilative Conference in DC
PeninsulaREALTORreg Jan - Feb 2016page 19
Ready To Get StartedCONTACT ATLANTIC BAY TODAY
For examplehellip A borrower age 72 with a purchase price of $200000 would require ONLY $92000 at closing for the Reverse Mortgage
Homeowner continues to pay insurance and property taxes live in and maintain home Home must be primary residence Program not currently available in all states People portrayed are professional models and are used for illustrative purposes only Terms and conditions subject to change without notice Consult your tax advisor before choosing a reverse mortgage
Clients Mustbull Be 62 or older to qualify (at least one person-can have younger spouse as non-borrower to
qualify)
bull Own your home outright (or have a low mortgage balance that can be paid off at closing with proceeds from the reverse loan or have a large down payment to purchase)
bull Have the financial resources to pay ongoing property charges including taxes and insurance
bull Live in the home
You donrsquot make payments while you live in the house but the loan and interest come due when you sell move out for 12 months or more or last person leaves the house permanently
DAWN ST CLAIR PHILLIPSSr Mortgage BankerNMLS 115936757-715-5733dawnphillipsatlanticbaycomatlanticbaycomdawnphillipscom
Did you knowYOU CAN USE A REVERSE MORTGAGE TO PURCHASE A HOME
ARE YOU CONSIDERING MOVING CLOSER TO YOUR FAMILY OR DOWNSIZING TO A HOME THAT BETTER SUITS YOUR NEEDSOR LOOKING TO STAY IN YOUR HOME AND NEED ADDITIONAL INCOME
PeninsulaREALTORreg Jan - Feb 2016page 20
PeninsulaREALTORreg Jan - Feb 2016page 21
PeninsulaREALTORreg Jan - Feb 2016page 22
The PeninsulaRealEstateSchoolby Jo Mcnamara Daly Director of Education amp Events
2016 Continuing Education Classes Location
VPAR Building 1001 North Campus Parkway
Hampton VA 23666 757-599-5222
Payment MUST be made at time of registration Register online at membersvparorg and click on Member Service Center to login or complete this form and fax to 757-596-3911 or email to jovparorg VPAR reserves the right to cancel a class if less than 10 people are registered 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 12 Tuesday July 12 Tuesday Feb 9 Tuesday Aug 9 Tuesday Mar 8 Tuesday Sept 13 Tuesday Apr 5 Tuesday Oct 11 Tuesday May 10 Tuesday Nov 8 Tuesday June 21 Tuesday Dec 6
All 8 Hour Classes are from 830 ammdash530 pm
Code of Ethics (Meets NAR Quadrennial Requirements) amp Code of Conduct
Fair Housing Legal Updates amp Emerging Trends (Law) Flood Insurance amp Flood Map Instruction Real Estate Contracts Real Estate Agency
8-HR Elective CE Class Dates
Thursday Feb 16 Tuesday Sept 20 Tuesday May 17 Tuesday Nov 15
Anti-Trust Disclosures Professionalism Safety Do-Nots
3-HR Code of Ethics Course
Thursday November 3rd from 1ndash 4 pm Thursday December 8th from 1-4 pm
More dates to be added soon Meets NAR Quadrennial Requirements
Peninsula Real Estate School owned and operated by
Virginia Peninsula Association of REALTORSreg
Registration Form
Name Company Address City State Zip Phone Email License ______ Exp Date _
Method of Payment
Check Invoice Office Visa MasterCard AMX Discover Card Name on Card ____________________________ Credit Card _____ Exp Date Signature _____ Name on Card _________________________ Amount Due (check appropriate box) 8-Hour Course VPAR Member $50 8-Hour Course Non-Member $60 3-Hour Ethics Course VPAR Member $30 3-Hour Ethics Course VPAR Non-Member $35
PeninsulaREALTORreg Jan - Feb 2016page 23
Chip Dicks VAR Legislative
Counsel
The Virginia Peninsula Association of REALTORSreg in cooperation with
The Virginia Association of REALTORSreg presentshellip
VRLTA Update with Chip Dicks
Get the information you need on the updatedVirginia Residential Landlord Tenant Act
Tuesday April 12th 2016 900 am ndash 400 pm
_________________
$12500 per member $13000 per non-member
Virginia Peninsula Association of REALTORSreg 1001 North Campus Parkway Hampton 23666
Sponsor LUNCH INCLUDED
VRLTA Update with Chip Dicks ndash April 12th 2016Pending REB Approval for 3 Hours Legal Update amp 3 Hours Real Estate Related CE
Pending REB Approval for 2 Hours of Current Industry IssuesTrends Course will be submitted for approval at the end of the general assembly session to include anyall changes in the VRLTA
NAME FIRM
ADDRESS
CITY STATE ZIP
PHONE E-MAIL
Method of PaymentCheck ____ Visa MasterCard____ Discover___ AMX____
Credit Card Exp date
Signature(Your signature indicates acceptance of VPAR registration policy and authorization of credit card charges)
Name on credit card_______________________________________
PLEASE RETURN TO VPAR AT FAX NUMBER 757-596-3911 MAIL TO VPAR 1001 North Campus Parkway Hampton VA 23666 or register online at membersvparorg
QUESTIONS CALL 757-599-5222Cancellations must be received within 48 hours of the event to receive full refund On-site registration fee is $135 Please notify us in advance if you have a disability that requires special services
bull Get up to speed on the recent changes to the Virginia Residential Landlord and Tenant Act
bull Designed for both real estate brokers and sales persons this course offers a detailed review of lease applications
bull A ldquohow tordquo guide for broker agent compliance bull The awareness and information you need to protect your
business
Approved for
6 hrs CE and 2 hrs PL Credit
PeninsulaREALTORreg Jan - Feb 2016page 24
REINMLScom ndash A Valuable Member Resource
This year REIN unveiled a new and improved REINMLScom website If you havenrsquot logged in yet please be sure to do so and take advantage of all the site has to offer
If you have never been to REINrsquos member website and are wondering what it offers think of it as a ldquohubrdquo to all things REIN‐related From REINMLScom you can access Fusion and Matrix find market statistics and graphs the current monthrsquos training calendar PDF copies of REINrsquos contracts and forms and much more You can even access your membership account to review and pay invoices online
The new mobile friendly website offers you a fresh look eye‐catching graphics and improved navigation that makes information easy to find Plus two great new featureshellip
A lsquoSYSTEM STATUSrsquo section has been added to the home page of the website to identify when REINrsquos MLS systems and programs are experiencing known issues such as updates service interruptions or down time
The second new feature is lsquoASK REINrsquo ndash a robust technical support module ASK REIN allows you to search online documentation that can help you troubleshoot commonly asked technical questions and if you canrsquot find the answers you are searching for then you can lsquoSubmit a Support Requestrsquo to REINrsquos Tech Support Department directly from the website
To access the full benefits of REINMLScom members must log into the site using their REIN ID and a password If you have not already done so please establish a password for this website by clicking on lsquoChangeForgot Passwordrsquo located next to the green Log In button in the top right corner of the screen Then check your email for a link to reset your password If you still cannot log into the site please contact REINrsquos Tech Support at 7575317901 or supportreininccom
Check it out today wwwREINMLScom
PeninsulaREALTORreg Jan - Feb 2016page 25
Scenes From Our January Social At BJrsquos at Tech Center amp February at UNOrsquos
THANKS TO OUR ALL SPONSORS MARES Exterminating AT BJrsquos andFidelity Bank Mortgage at UnOrsquos
Vpar SOCIAL HAPPENINGS
PeninsulaREALTORreg Jan - Feb 2016page 26
The Virginia Peninsula Association of REALTORSreg presentshellip
The Accredited Buyer Representative Designation
(Approved for 13HRS CE credit)
Instructor Pat Snyder
Accredited Buyer Representative Designation Course ndash April 7 amp 8 2016
NAME FIRM
ADDRESS MEMBER
CITY STATE ZIP
PHONE E-MAIL
Method of Payment Check
Credit Card Exp date
Signature (Your signature indicates acceptance of VPAR registration policy and authorization of credit card charges) Real Estate License Exp date
PLEASE RETURN TO VPAR AT FAX NUMBER 757-596-3911 MAIL TO VPAR 1001 North Campus Parkway Hampton VA 23666 or register online at membersvparorg
QUESTIONS CALL 757-599-5222 Cancellations must be received within 48- business hours of course to receive a refund Registrations are
non-transferable On-site late registration fee is $325 VPAR RESERVES THE RIGHT TO CANCEL THE COURSE IF MINIMUM REGISTRATIONS ARE NOT MET
Please notify us in advance if you have a disability that requires special services
Thursday amp Friday April 7 amp 8 2016 830 am ndash 500 pm
APRIL IS A SPECIAL DISCOUNT MONTH (REGULAR MEMBER RATE IS $295)
VPAR Headquarters Training Room A 1001 North Campus Parkway Hampton VA 23666 Early Bird Pricing before April 1 by NOON
Members $255 Non-Members $275
Register after Members $275 Non-Members $300
On-site registration fee is $325
PeninsulaREALTORreg Jan - Feb 2016page 27
VPAR Peninsula Partners include the following loyal firms who have stepped up to support VPARevents and education throughout the year This program reflects a commitment to provide REALTORreg
members with the best business environment while connecting to industry professionals whoprovide valuable products and services It is designed to create a unique partnership between
sponsors and the Association where both members and sponsors benefit greatly through the abilityto network exchange ideas and conduct business
PeninsulaREALTORreg Jan - Feb 2016page 28
VPAR Members Supporting Our Communities atThe Poquoson Neighborhood Food Distribution
for the Peninsula Food Bank
PeninsulaREALTORreg Jan - Feb 2016page 29
CONTACT A LOCAL LOAN OFFICER AT 1-877-573-2324gt KIMBERLY CRESS EXT 21238gt LASHEKA PEARSON-PARKER EXT 21210gt NATASHA THOMAS EXT 21104
Federally insured by NCUA 100 financing loans include an additional funding fee which may be financed up to the maximum loan amount Product features subject to approval copy 2016 Navy Federal NFCU 13490 (2-16)
THEYrsquoLL ENJOY
gt no application feegt 100 financing optionsgt up to 6 seller contribution allowed
HELP YOUR CLIENTS UNLOCK THE DOOR TO THEIR FIRST HOME
13490_Peninsula_Realtor_Mag_Ad_2_162indd 1 2416 202 PM
PeninsulaREALTORreg Jan - Feb 2016page 30
smile you can have 2-10 Home Buyers Warrantyreg
on your team with our industry leading Home
Warranty Service Agreement
bull Over 55 million homes protected
bull Over 975 of claims paid
bull A Rating with the Better Business Bureau (BBB)
Carolyn Ricketts Account Executive5716068051| cricketts2-10com
Defeated a 500 Increase We helped to defeat a budget amendment that would have increased the deductible that property owners including
YOUR clients pay to have their leaking underground oil tanks cleaned up and repaired by 500 The current $500 deductible was proposed to go up to $2500
The petroleum tank increase was a budget amendment
Prison time 1 to 6 years We added a felony charge to any criminal who lures or entices a REALTORreg to a property with the intent to do harm
The added felony will increase a criminalrsquos sentence by up to 6 years The 1-6 years are the statutory sentencing guidelines
Save $150 - $500hr on attorneysrsquo fees We continued to refine legislation that allows property managers to represent your clients in General District court
without needing an attorney So how much would your attorney charge per hour Typically attorney fees range from $150 - $500hr
$12000 back to consumers Under a new law that VAR drafted we have made it easier for Virginia consumers who have received a court judgment to
collect damages from the Real Estate Transaction Recovery Fund The average claim is approximately $12000 The $12000 figure is an estimate by the DPOR finance staff on the average claim that comes before the Board
Wiped out $200per Sign Fines We worked with a state legislator to prevent a proposal creating daily fines of $200 for any sign in any public right of
way How often do you use such signs for your listings 10 days for 1 sign = $2000 The $200 per sign was the language in the proposed bill VAR was able to stop
Keep RPAC of Virginia working for you Without your support RPAC cannot remain a powerful voice on key legislative issues Your dollars help us make our voice heard
Visit VirginiaRealtorsChoosecom
RPAC of VIRGINIA VICTORIES BY THE NUMBER$
RPAC makes a difference Just look at the numbers
PeninsulaREALTORreg Jan - Feb 2016page 32
January 2016 Virginia residential real estate sales showed typical industry seasonality January tends to be the slowest month for home sales and this year was particularly affected by catastrophic Winter Storm Jonas In spite of blizzard conditions that halted market activity for several days sales volume was nearly on par with the same month last year The value of transactions in January 2016 exceeded $174 billion an out performance of the previous January Median sales price rose 326 percent year-over-year and more than 7 per-cent from January 2014 Year-over-year elevation indicates sustainable market improvement Click here for the complete report httptinyurlcomj7k254s
Full service marketing amp innovative mobile platformsall designed with your business in mind
NMLS 176544 Member FDIC
MonarchWhere homebuying dreams take flight
PeninsulaREALTORreg Jan - Feb 2016page 33
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAIL
Featuring250 characters25 per lineEast WilmingtonRutherford Grand LakesArington Hills CoolidgeElrot Florence GilbertGold Canyon King andQueen Cedar CrestBristol Newport JacksonMadison ElbertvilleBarrowALL ACROSS NORTH AMERICA
THERealEstateBookreg
Volume 00 Issue 00
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAILTo see a sample listing on your smartphone Text T312634 to 85377
Learn more at RealEstateBookMediaKitcomFor FREE MAGAZINES or to ADVERTISE visit our website or call 800-841-3401
Bill McFallMarket Representative
The Market Leader in Hampton Roads VA amp North America
780 Pilot House Drive Building 400B Newport News VA 23606
office 757-873-6731 bull cell 757-286-6731 bull fax 757-273-8275email billmcfallcoxnet
wwwRealEstateBookHRcom
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Interested in advertising your company Click here for our 2016 Adverstising Information
or call us at 757-599-5222 today
PeninsulaREALTORreg Jan - Feb 2016page 34
The PeninsulaPerspective by Jim Wetzel RCE CEO
Nobody will ever deprive the American people of the right to vote except the American people themselves and the only way they could do this is by not voting
Franklin D Roosevelt
This past week I was honored to attend our REALTOR Legislative Meetings in Richmond VA together with our members arriving from all corners of the commonwealth We arrived with a common mission of taking our message to our legislators on the many ways we can improve the real estate industry and homeownership opportunities in our communities
With pride our members spoke of the improvements in the real estate indus-
try over the past year and highlighted our recommendations on how together REALTORS and our legislative partners can make things even better in the years ahead We highlighted important chang-es that we felt would make not only the industry better but the lives of all who call Virginia their home
We spoke together and our legislators listened We made a difference
On March 1st the process of selecting our next President of the United States begins We have listened to the debates been inundated by the media heard from the political commentators and heard the endorsements
Now it is time for us to speak We can make a difference one vote at a time
PeninsulaREALTORreg Jan - Feb 2016page 35
PeninsulaREALTORreg Jan - Feb 2016page 6
PeninsulaREALTORreg Membership By Cindy Anderson Director of Membership
WELCOME NEW REALTORSregClinton Allen Rose amp Womble Realty Company James Beal Abbitt Realty Company LLC
Charles Blount Preferred Properties Kim Borum Berkshire Hathaway HomeServices Towne Mindy Bowman Abbitt Realty Co LLC Benjamin Canty greg garrett realtycom
Monteiro Chamblee Willow Beach Real Estate LLC Shirley Charles greg garrett realtycomLelani Clayton Coldwell Banker Traditions John Gorman Keller Williams Elite - Pen
Marcela Graham Mid-Atlantic Residential Michelle Guthrie REMAX CapitalJillian Hooper Rose amp Womble Realty Company Ashley Horak Keller Williams Elite - Pen
Tresa Maynor Mid-Atlantic Residential Kathleen McKone Rose amp Womble Realty CompanyRebecca Montreuil-Silvis EXIT Real Estate Solutions Beth Posada Keller Williams Elite - Pen
Valerie Shelton Keller Williams Elite - Pen Ronnie Snipes Keller Williams Elite - PenJulie Strelow Fathom Realty Daniel Zarkowski Abbitt Realty Co LLC
RECENT TRANSFERSMaria Araiza Howard Hanna-William E Wood Edward V Bond Howard Hanna - William E Wood
Nancy S Bonnema Berkshire Hathaway HomeServices Towne RealtyChiffon Bradshaw Willow Beach Real Estate LLC Sammie Buckhanon Keller Williams Elite - Pen
Victoria Burland Brian F Saunders amp Associates Tracie Burton Keller Williams Elite - PenDeborah Eggers Keller Williams Elite - Pen Kimberly Gonzalez Keller Williams Elite - Pen
Sabrina Hack Keller Williams Elite - Pen Sabrina Hite REMAX PeninsulaKim Hoskins Keller Williams Elite - Pen Jessica Lucas Keller Williams Elite - Pen
Jon E May Fathom Realty Lorri McDonald Keller Williams Elite - PenKristi McKittrick Rose and Womble LLC Pamela Murphy ERA Real Estate Professionals
Jake OrsquoBryan Abbitt Realty Co LLC Tracy Prince Keller Williams Elite - PenPatsy G Sheppard Keller Williams Elite - Pen Carol A Sobieski CENTURY 21 Nachman Realty
David Tortolini Keller Williams Elite - PenRay Upright Howard Hanna - William E Wood Rachael Ward Brian F Saunders amp Associates
WELCOME NEW AFFILIATES Christopeher Walker CCW Construction
Michael Vernon Comparity LLC Sherry Thacker Old Point Mortgage LLC
adapted homes for severely injured post-911 veterans Each home is built with features that accommodate the needs of the veteran and offered mortgage-free so that the veteran can focus on recovery and rebuilding a healthy life Operating for 11 years Homes for Our Troops has built over 190 homes across the United States and currently has five projects underway in Virginia The organization is top-rated for financial stewardship and operations and works carefully with each veteran on homeownership readiness and responsibility
In August 2015 the Virginia Association of REALTORSreg became a regional corpo-rate partner of Homes for Our Troops in a lasting commitment to the housing needs of Virginia veteran and military families With hundreds of contributors and over $60000 in the first few months of part-nership REALTORSreg across the state are engaged in supporting the projects underway and the veterans in their com-munities
One of the first homes that Virginia REAL-TORSreg and HFOT built is located in York County The event during which the key is presented to the injured veteran will be held on March 6 2016 VPAR has been conducting outreach to area elected of-ficials inviting them to attend this special morning VPAR members can learn more details by visiting httpswwwhfotusaorgslate
PeninsulaREALTORreg Jan - Feb 2016page 7
The PeninsulaMonitor by Susan Gaston LEGISLATIVE CONSULTANT
Monthly Public Policy Report
ldquoTHE MONITORrdquo February 2016
Local Issues
Newport NewsVPAR is coordinating with the Wason Center for Public Policy at Christopher Newport University regard-ing public dissemination and media po-tential for the recently produced housing needs study and market needs analysis The study is a resource to the decision makers in the region particularly in the City and we want to position the Associa-tion as a leading organization in formulat-ing future housing policy
PoquosonMark your calendars for Friday May 6th The City is hosting its annual Residential REALTORreg Day where VPAR members can hear from City leaders tour the ldquoBull Islandrdquo and have a Fun Friday Been there done that Donrsquot worry VPAR is work-ing with the City to reformat the popular event so that it is new to even repeat at-tendees More to comehellip
York County Last year the Virginia Association of RE-ALTORSreg (VAR) partnered with Homes for our Troops (HFOT) a national non-profit organization that builds specially
Regional Issues
Local voters will go to the polls in Hamp-ton and Newport News on Tuesday May 3rd Hampton elections will include voting for Mayor and three At-Large City Council seats with Mayor George Wal-lace and Council Members Linda Curtis Billy Hobbs and Chris Snead all seeking re-election Other candidates likely will be coming forward before the March 15th filing deadline
In Newport News three incumbents will be seeking re-election to City Council In the Central District incumbent Pat Wood-bury will be challenged by Mike Mullin Councilman Rob Coleman in the North District currently is running unopposed as is South District Councilwoman Tina Vick
VPARrsquos Public Policy Committee will be conducting candidate interviews for the purposes of endorsing pro-housing pro-business candidates and supporting their campaigns with funds from the REAL-TORSreg Political Action Committee (RPAC) of Virginia
State Issues
At the time of this writing the 2016 General Assembly Session has reached the halfway mark and is in the final two weeks of legislative work REALTORreg bills are in strong shape as the House and
Senate finalize committee action
HB 577AgencyLicensing Law Revisions Passed the House 97-0 020316Passed the Senate 40-0 022516On Governorrsquos Deskhttplisvirginiagovcgi-binlegp604exe161+ful+HB567+pdf
HB 577 InterpleaderEscrow Accounts Passed the House 98-0 020216Reported from Senate Courts of Justice Committee 022416httplisvirginiagovcgi-binlegp604exe161+ful+HB577+pdf
HB 684POACOA Amendments Passed the House 99-0 021016Reported from the Senate General Laws amp Technology Committee 15-0 022216httplisvirginiagovcgi-binlegp604exe161+ful+HB684+pdf
SB 453Licensing of Home Inspectors Passed the Senate 30-9 012916Passed the House 100-0 022216On Governorrsquos Deskhttplisvirginiagovcgi-binlegp604exe161+ful+SB453+pdf
A more detailed legislative report will be forthcoming as more bills report out of Committee and move off of the floors
PeninsulaREALTORreg Jan - Feb 2016page 8
The PeninsulaMonitor Continues
PeninsulaREALTORreg Jan - Feb 2016page 9
2016 REALTOR Day on the HillRichmond VA
Virginia Peninsula Association of REALTORSawarded the 2015 RPAC Triple Crown
at the RPAC Awards Ceremony
Recognized for Meeting amp Exceeding2015 RPAC Fundrasing Goal
2015 RPAC Participation Goal2015 Major Investor Goal
Shown accepting award Dewey Hutchins 2015 President Carla Carney 2015 RPAC Chair Karla Grase RPAC Vice Chair Andy Cohen 2016 President Jim Wetzel CEO and
Bill White 2016 VAR President
PeninsulaREALTORreg Jan - Feb 2016page 10
The PeninsulaMarket by the Virginia Association of REALTORSreg
January 2016 Homes Sales Report Steady start to the Virginia housing market in new year - Median sales price up more
than 3 percent YOY - January 2016 residential real estate sales top $174 billionAccording to the Virginia Association of REALTORSreg (VAR) January 2016 Home Sales Report residential real estate sales in the first month of the year reflected typical indus-try seasonality Historically January is the slowest month for home sales and this year was particularly affected by a catastrophic winter weather event Despite significant disruption to market activity from Winter Storm Jonas volume declined by less than one percent year-over-year remaining near static with January 2015 Median sales price rose year-over-year contributing to a higher total transaction value than January 2015 The value of transactions in January 2016 exceeded $174 billion an outperformance of the same month last year despite near even sales numbers Median sales price for Janu-ary 2015 rose 326 percent from the same period last year from $237750 to $245500 and more than 7 percent from January 2014 ($228380) Year-over-year elevation indi-cates sustainable market improvement Read the full report here
PeninsulaREALTORreg Jan - Feb 2016page 11
Federal Issues
NAR TESTIFIES ON VETERANSrsquo HOUSING
On Feb 10 NAR 2016 Vice President Sherri Meadows testified before the House Veterans Affairs Subcommittee on Economic Opportunity at a hearing entitled ldquoA Review of VArsquos Loan Guaranty and Specially Adaptive Housing Grant Programs (SAH)rdquo The testimony focused on long-term REALTORreg support for the VA home loan guaranty and the benefits it provides our nationrsquos veterans According to the 2015 NAR Homebuyer and Seller Survey one in five buyers was a veteran or active duty service member NAR recommends all REALTORSreg ask their clients if they have ever served as this program provides zero-downpayment loans and favorable terms to eligible veterans
In the testimony Meadows asked for three enhancements to the program to make it even more useful for veterans 1) increase the loan limits for VA VA is not just another loan program - itrsquos an entitlement Veterans should not be prohibited from using their guaranty in high cost areas 2) ease restrictions on what the veteran can pay in the mortgage transactions Veterans are often disadvantaged when bidding on a home due to their inability to negotiate certain fees and 3) incentivize lenders to offer
an FHA 203k-type product for veterans This type of loan includes the costs of rehabilitation and repairs and could allow veterans better access to homes that need some work
NAR also supported increasing efficiency in the specially-adapted housing (SAH) grant programs and urged the Committee to make the VA loan as useful as possible for all our nationrsquos veterans so it may be a real benefit to those who have so bravely served our country
Watch the video here httpswwwyoutubecomwatchv=VW_srZ1yUcw
HOUSE PASSES VA LOAN BILL
In early February the House of Representatives passed legislation which included a provision to eliminate the cap on VA loan limits The bill HR 3016 ldquoVeterans Employment Education and Healthcare Improvement Actrdquo sponsored by Rep Wenstrup (R-OH) included an amendment added by Rep Zeldin (R-NY) in Committee that would allow veterans to purchase a home in high cost areas by eliminating the maximum loan amount on VA loans As stated in the accompanying report ldquoThe Committee is confident VArsquos current strict underwriting standards and low foreclosure rates will ensure that veterans still have the required good credit and income to qualify for the loan and that this change will not
PeninsulaREALTORreg Jan - Feb 2016page 12
The PeninsulaMonitor continued
PeninsulaREALTORreg Jan - Feb 2016page 13
result in a significant increased amount of foreclosuresrdquo NAR has long supported the VA home loan guaranty program and believes that as an entitlement program our nationrsquos veterans should have the freedom to purchase a home wherever they choose to live
Should you have questions on these or other issues or for additional details please contact Susan Gaston VPARrsquos Legislative Consultant at 757-871-1445 or at susangastongroupcom
PeninsulaREALTORreg Jan - Feb 2016page 14
The PeninsulaMonitor continued
Commuting Costs Important to Home Buyers
Even with plunging gas prices the cost of commuting to and from the office can be pricey (as well as stressful) But how much does that commute play into the homebuying process According to research from the National Association of REALTORSreg commuting costs defi-nitely come into play in searching for and purchasing that dream home in fact 30 percent of homebuyers purchased homes last year to cut down on commut-ing costsmdasha factor they cited as ldquovery importantrdquo Additionally 64 percent of buyers bought their home in part because it was convenient to their job this was so important that 23 percent of those buyers said they compromised on the price of their home to be physi-cally closer to work mak-ing more time for the other important things in their life such as spending time with friends and family
Take a look at NARrsquos 2015 Profile of Home Buyers and Sellers Read more about this topic on NARrsquos Econo-mistsrsquo Outlook blog
The PeninsulaMarket Tips
PeninsulaREALTORreg Jan - Feb 2016page 15
REALTORSreg amp RESPA
Are Realtors Getting Reli-gion
Most Realtors are aware of the anti-kick-back provi-sions of the
Real Estate Settlement Procedures Act ldquoNo man shall giveth Yea neither shall he receiveth any thing of value to God or Mammon pursuant to any covenant under the heavens that calleth for referrals of settlement servicesrdquo Book of RESPA 84
This well-known proverb articulates the received wisdom of Congress that refer-ral fees unnecessarily add to the cost of settlements and thus make housing less affordable for Godrsquos children Not every-one agrees however RESPA expert Phillip Schulman for instance has articulated a three-part test to determine the legality of any particular activity under RESPA First Does the activity make business sense that is does it tend to increase efficiency decrease waste and lower costs Second Does the activity benefit the parties to the transaction (here the brokers borrowers buyers and sellers) And finally Would the activity be permitted in almost any
other arena of commerce as accepted and ethical business practice If the answer to all three questions is yes then the activity says Schulman is almost certainly illegal under RESPA
The essence of Section 8 of RESPA seems to be that while the business expense of a targeted and highly effective referral fee paid by a lender to a referral source must be recovered by the lender in the form of higher loan costs the highly inefficient ad-vertising that replaces the referral source does not You can decide what to make of that argument
However we have to live with the RE-SPA prohibition against paid referrals as valueless acts that serve only to drive up costs But even RESPA acknowledges that it is legal to be paid for services actually performed up to the value of the services if the services are not referrals (which by definition have no value) And it is legal to refer business to an entity of which you are an owner as long as your compen-sation is based on your profit from the entity and not linked to the referral per se And thereon hangs an interesting tale
Lenders and other settlement service pro-viders long ago discovered that offering a piece of the pie to sources of referrals made good business sense Thus we have seen a proliferation of real estate broker-
Risk ManagementREALTORSreg and RESPAby Blake Hegeman CAE Deputy General Counsel
PeninsulaREALTORreg Jan - Feb 2016page 16
Risk ManagementREALTORSreg and RESPAby Blake Hegeman CAE Deputy General
lender lender-title company broker-settlement agency joint ventures over the years These couplings make great sense and afford the participants incentives to refer business to the joint venture partner This type of relationship does not violate RESPA if the benefit accruing to the referral source is strictly according to ownership interest in the benefited entity and the consumer to whom a referral is made is given the RESPA Miranda warning ndash basically that the person making the referral may benefit from it that the service will cost a certain amount and that the consumer might find the service cheaper elsewhere These relationships are legal and ethical and can be quite beneficial
Now because RESPA permits service pro-viders to pay for service actually performed some have tried ndash with varying degrees of
success ndash to skirt RESPA by paying more than the service is worth or for duplicative efforts or even for only nominal ndash or no -- service These ldquodisguisedrdquo referral fees are illegal and much despised by HUD who seeketh after them like the righteous man seeketh after salvation
That brings us to a more recent phenom-enon the efforts of some mortgage brokers and lenders to avoid the strictures of RESPA by hiring referral sources as employees and paying them for work they do as employees Of course much or all of that work will be for clients referred by the employee but if the employeremployee relationship is bona fide and the salary is for -- and commen-surate with -- services actually performed the relationship can be legal Itrsquos likely that HUD will apply something like the IRS test to determine whether the employee really is an employee and virtually everyone acknowledges that merely giving the ldquoem-ployeerdquo a W-2 and calling her an employee will not be enough
PeninsulaREALTORreg Jan - Feb 2016page 17
Risk ManagementREALTORSreg and RESPAby Blake Hegeman CAE Deputy General
We also need to be aware of another limita-tion imposed by Virginia law even when the labyrinth of RESPA has been negotiated The Virginia Mortgage Lender and Bro-ker Act provides in Section 61-422 that a person may not receive a fee as a mortgage broker and a real estate broker for services performed in the same transaction unless the person was licensed and regularly engaged in mortgage brokerage in Virginia as of Feb-ruary 1989 This resolution of a turf battle between mortgage and real estate brokers was weakened by a provision permitting real estate brokers (but not salespersons) who are owners of a real estate firm to own
an interest in a mortgage lender or broker and to profit from such investment and be compensated for services actually performed for those entities But the prohibition on dual brokerage fees to non-grandfathered persons persists
These are only a few examples from the veritable patchwork quilt of efforts to overcome RESPArsquos prohibition on referral fees Perhaps what Realtors need most to be aware of is that HUD approaches what it sees as RESPA violations with a fervent zeal displayed few other places If you are look-ing for a way to receive a fee for referring settlement business look for another way to make a buck If yoursquore willing to work le-gitimately for a service provider and get paid for the value of what you do -- and no more ndash there are opportunities out there awaiting
NEW Womens Council of REALTORSreg Coastal Chapter at VPAR
PeninsulaREALTORreg Jan - Feb 2016page 18
PeninsulaREALTORreg UPCOMING EVENTSby Jo McNamara Daly Director of education and events
Save The Dates
March 5th - OSC Awards Banquet at City Center
March 22nd - Lunch amp Learn SEO
April 12th - VRLTA Seminar with Chip Dicks
April 19th - General Membership Meeting at VPAR
May 9th - 14th - NAR Legisilative Conference in DC
PeninsulaREALTORreg Jan - Feb 2016page 19
Ready To Get StartedCONTACT ATLANTIC BAY TODAY
For examplehellip A borrower age 72 with a purchase price of $200000 would require ONLY $92000 at closing for the Reverse Mortgage
Homeowner continues to pay insurance and property taxes live in and maintain home Home must be primary residence Program not currently available in all states People portrayed are professional models and are used for illustrative purposes only Terms and conditions subject to change without notice Consult your tax advisor before choosing a reverse mortgage
Clients Mustbull Be 62 or older to qualify (at least one person-can have younger spouse as non-borrower to
qualify)
bull Own your home outright (or have a low mortgage balance that can be paid off at closing with proceeds from the reverse loan or have a large down payment to purchase)
bull Have the financial resources to pay ongoing property charges including taxes and insurance
bull Live in the home
You donrsquot make payments while you live in the house but the loan and interest come due when you sell move out for 12 months or more or last person leaves the house permanently
DAWN ST CLAIR PHILLIPSSr Mortgage BankerNMLS 115936757-715-5733dawnphillipsatlanticbaycomatlanticbaycomdawnphillipscom
Did you knowYOU CAN USE A REVERSE MORTGAGE TO PURCHASE A HOME
ARE YOU CONSIDERING MOVING CLOSER TO YOUR FAMILY OR DOWNSIZING TO A HOME THAT BETTER SUITS YOUR NEEDSOR LOOKING TO STAY IN YOUR HOME AND NEED ADDITIONAL INCOME
PeninsulaREALTORreg Jan - Feb 2016page 20
PeninsulaREALTORreg Jan - Feb 2016page 21
PeninsulaREALTORreg Jan - Feb 2016page 22
The PeninsulaRealEstateSchoolby Jo Mcnamara Daly Director of Education amp Events
2016 Continuing Education Classes Location
VPAR Building 1001 North Campus Parkway
Hampton VA 23666 757-599-5222
Payment MUST be made at time of registration Register online at membersvparorg and click on Member Service Center to login or complete this form and fax to 757-596-3911 or email to jovparorg VPAR reserves the right to cancel a class if less than 10 people are registered 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 12 Tuesday July 12 Tuesday Feb 9 Tuesday Aug 9 Tuesday Mar 8 Tuesday Sept 13 Tuesday Apr 5 Tuesday Oct 11 Tuesday May 10 Tuesday Nov 8 Tuesday June 21 Tuesday Dec 6
All 8 Hour Classes are from 830 ammdash530 pm
Code of Ethics (Meets NAR Quadrennial Requirements) amp Code of Conduct
Fair Housing Legal Updates amp Emerging Trends (Law) Flood Insurance amp Flood Map Instruction Real Estate Contracts Real Estate Agency
8-HR Elective CE Class Dates
Thursday Feb 16 Tuesday Sept 20 Tuesday May 17 Tuesday Nov 15
Anti-Trust Disclosures Professionalism Safety Do-Nots
3-HR Code of Ethics Course
Thursday November 3rd from 1ndash 4 pm Thursday December 8th from 1-4 pm
More dates to be added soon Meets NAR Quadrennial Requirements
Peninsula Real Estate School owned and operated by
Virginia Peninsula Association of REALTORSreg
Registration Form
Name Company Address City State Zip Phone Email License ______ Exp Date _
Method of Payment
Check Invoice Office Visa MasterCard AMX Discover Card Name on Card ____________________________ Credit Card _____ Exp Date Signature _____ Name on Card _________________________ Amount Due (check appropriate box) 8-Hour Course VPAR Member $50 8-Hour Course Non-Member $60 3-Hour Ethics Course VPAR Member $30 3-Hour Ethics Course VPAR Non-Member $35
PeninsulaREALTORreg Jan - Feb 2016page 23
Chip Dicks VAR Legislative
Counsel
The Virginia Peninsula Association of REALTORSreg in cooperation with
The Virginia Association of REALTORSreg presentshellip
VRLTA Update with Chip Dicks
Get the information you need on the updatedVirginia Residential Landlord Tenant Act
Tuesday April 12th 2016 900 am ndash 400 pm
_________________
$12500 per member $13000 per non-member
Virginia Peninsula Association of REALTORSreg 1001 North Campus Parkway Hampton 23666
Sponsor LUNCH INCLUDED
VRLTA Update with Chip Dicks ndash April 12th 2016Pending REB Approval for 3 Hours Legal Update amp 3 Hours Real Estate Related CE
Pending REB Approval for 2 Hours of Current Industry IssuesTrends Course will be submitted for approval at the end of the general assembly session to include anyall changes in the VRLTA
NAME FIRM
ADDRESS
CITY STATE ZIP
PHONE E-MAIL
Method of PaymentCheck ____ Visa MasterCard____ Discover___ AMX____
Credit Card Exp date
Signature(Your signature indicates acceptance of VPAR registration policy and authorization of credit card charges)
Name on credit card_______________________________________
PLEASE RETURN TO VPAR AT FAX NUMBER 757-596-3911 MAIL TO VPAR 1001 North Campus Parkway Hampton VA 23666 or register online at membersvparorg
QUESTIONS CALL 757-599-5222Cancellations must be received within 48 hours of the event to receive full refund On-site registration fee is $135 Please notify us in advance if you have a disability that requires special services
bull Get up to speed on the recent changes to the Virginia Residential Landlord and Tenant Act
bull Designed for both real estate brokers and sales persons this course offers a detailed review of lease applications
bull A ldquohow tordquo guide for broker agent compliance bull The awareness and information you need to protect your
business
Approved for
6 hrs CE and 2 hrs PL Credit
PeninsulaREALTORreg Jan - Feb 2016page 24
REINMLScom ndash A Valuable Member Resource
This year REIN unveiled a new and improved REINMLScom website If you havenrsquot logged in yet please be sure to do so and take advantage of all the site has to offer
If you have never been to REINrsquos member website and are wondering what it offers think of it as a ldquohubrdquo to all things REIN‐related From REINMLScom you can access Fusion and Matrix find market statistics and graphs the current monthrsquos training calendar PDF copies of REINrsquos contracts and forms and much more You can even access your membership account to review and pay invoices online
The new mobile friendly website offers you a fresh look eye‐catching graphics and improved navigation that makes information easy to find Plus two great new featureshellip
A lsquoSYSTEM STATUSrsquo section has been added to the home page of the website to identify when REINrsquos MLS systems and programs are experiencing known issues such as updates service interruptions or down time
The second new feature is lsquoASK REINrsquo ndash a robust technical support module ASK REIN allows you to search online documentation that can help you troubleshoot commonly asked technical questions and if you canrsquot find the answers you are searching for then you can lsquoSubmit a Support Requestrsquo to REINrsquos Tech Support Department directly from the website
To access the full benefits of REINMLScom members must log into the site using their REIN ID and a password If you have not already done so please establish a password for this website by clicking on lsquoChangeForgot Passwordrsquo located next to the green Log In button in the top right corner of the screen Then check your email for a link to reset your password If you still cannot log into the site please contact REINrsquos Tech Support at 7575317901 or supportreininccom
Check it out today wwwREINMLScom
PeninsulaREALTORreg Jan - Feb 2016page 25
Scenes From Our January Social At BJrsquos at Tech Center amp February at UNOrsquos
THANKS TO OUR ALL SPONSORS MARES Exterminating AT BJrsquos andFidelity Bank Mortgage at UnOrsquos
Vpar SOCIAL HAPPENINGS
PeninsulaREALTORreg Jan - Feb 2016page 26
The Virginia Peninsula Association of REALTORSreg presentshellip
The Accredited Buyer Representative Designation
(Approved for 13HRS CE credit)
Instructor Pat Snyder
Accredited Buyer Representative Designation Course ndash April 7 amp 8 2016
NAME FIRM
ADDRESS MEMBER
CITY STATE ZIP
PHONE E-MAIL
Method of Payment Check
Credit Card Exp date
Signature (Your signature indicates acceptance of VPAR registration policy and authorization of credit card charges) Real Estate License Exp date
PLEASE RETURN TO VPAR AT FAX NUMBER 757-596-3911 MAIL TO VPAR 1001 North Campus Parkway Hampton VA 23666 or register online at membersvparorg
QUESTIONS CALL 757-599-5222 Cancellations must be received within 48- business hours of course to receive a refund Registrations are
non-transferable On-site late registration fee is $325 VPAR RESERVES THE RIGHT TO CANCEL THE COURSE IF MINIMUM REGISTRATIONS ARE NOT MET
Please notify us in advance if you have a disability that requires special services
Thursday amp Friday April 7 amp 8 2016 830 am ndash 500 pm
APRIL IS A SPECIAL DISCOUNT MONTH (REGULAR MEMBER RATE IS $295)
VPAR Headquarters Training Room A 1001 North Campus Parkway Hampton VA 23666 Early Bird Pricing before April 1 by NOON
Members $255 Non-Members $275
Register after Members $275 Non-Members $300
On-site registration fee is $325
PeninsulaREALTORreg Jan - Feb 2016page 27
VPAR Peninsula Partners include the following loyal firms who have stepped up to support VPARevents and education throughout the year This program reflects a commitment to provide REALTORreg
members with the best business environment while connecting to industry professionals whoprovide valuable products and services It is designed to create a unique partnership between
sponsors and the Association where both members and sponsors benefit greatly through the abilityto network exchange ideas and conduct business
PeninsulaREALTORreg Jan - Feb 2016page 28
VPAR Members Supporting Our Communities atThe Poquoson Neighborhood Food Distribution
for the Peninsula Food Bank
PeninsulaREALTORreg Jan - Feb 2016page 29
CONTACT A LOCAL LOAN OFFICER AT 1-877-573-2324gt KIMBERLY CRESS EXT 21238gt LASHEKA PEARSON-PARKER EXT 21210gt NATASHA THOMAS EXT 21104
Federally insured by NCUA 100 financing loans include an additional funding fee which may be financed up to the maximum loan amount Product features subject to approval copy 2016 Navy Federal NFCU 13490 (2-16)
THEYrsquoLL ENJOY
gt no application feegt 100 financing optionsgt up to 6 seller contribution allowed
HELP YOUR CLIENTS UNLOCK THE DOOR TO THEIR FIRST HOME
13490_Peninsula_Realtor_Mag_Ad_2_162indd 1 2416 202 PM
PeninsulaREALTORreg Jan - Feb 2016page 30
smile you can have 2-10 Home Buyers Warrantyreg
on your team with our industry leading Home
Warranty Service Agreement
bull Over 55 million homes protected
bull Over 975 of claims paid
bull A Rating with the Better Business Bureau (BBB)
Carolyn Ricketts Account Executive5716068051| cricketts2-10com
Defeated a 500 Increase We helped to defeat a budget amendment that would have increased the deductible that property owners including
YOUR clients pay to have their leaking underground oil tanks cleaned up and repaired by 500 The current $500 deductible was proposed to go up to $2500
The petroleum tank increase was a budget amendment
Prison time 1 to 6 years We added a felony charge to any criminal who lures or entices a REALTORreg to a property with the intent to do harm
The added felony will increase a criminalrsquos sentence by up to 6 years The 1-6 years are the statutory sentencing guidelines
Save $150 - $500hr on attorneysrsquo fees We continued to refine legislation that allows property managers to represent your clients in General District court
without needing an attorney So how much would your attorney charge per hour Typically attorney fees range from $150 - $500hr
$12000 back to consumers Under a new law that VAR drafted we have made it easier for Virginia consumers who have received a court judgment to
collect damages from the Real Estate Transaction Recovery Fund The average claim is approximately $12000 The $12000 figure is an estimate by the DPOR finance staff on the average claim that comes before the Board
Wiped out $200per Sign Fines We worked with a state legislator to prevent a proposal creating daily fines of $200 for any sign in any public right of
way How often do you use such signs for your listings 10 days for 1 sign = $2000 The $200 per sign was the language in the proposed bill VAR was able to stop
Keep RPAC of Virginia working for you Without your support RPAC cannot remain a powerful voice on key legislative issues Your dollars help us make our voice heard
Visit VirginiaRealtorsChoosecom
RPAC of VIRGINIA VICTORIES BY THE NUMBER$
RPAC makes a difference Just look at the numbers
PeninsulaREALTORreg Jan - Feb 2016page 32
January 2016 Virginia residential real estate sales showed typical industry seasonality January tends to be the slowest month for home sales and this year was particularly affected by catastrophic Winter Storm Jonas In spite of blizzard conditions that halted market activity for several days sales volume was nearly on par with the same month last year The value of transactions in January 2016 exceeded $174 billion an out performance of the previous January Median sales price rose 326 percent year-over-year and more than 7 per-cent from January 2014 Year-over-year elevation indicates sustainable market improvement Click here for the complete report httptinyurlcomj7k254s
Full service marketing amp innovative mobile platformsall designed with your business in mind
NMLS 176544 Member FDIC
MonarchWhere homebuying dreams take flight
PeninsulaREALTORreg Jan - Feb 2016page 33
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAIL
Featuring250 characters25 per lineEast WilmingtonRutherford Grand LakesArington Hills CoolidgeElrot Florence GilbertGold Canyon King andQueen Cedar CrestBristol Newport JacksonMadison ElbertvilleBarrowALL ACROSS NORTH AMERICA
THERealEstateBookreg
Volume 00 Issue 00
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAILTo see a sample listing on your smartphone Text T312634 to 85377
Learn more at RealEstateBookMediaKitcomFor FREE MAGAZINES or to ADVERTISE visit our website or call 800-841-3401
Bill McFallMarket Representative
The Market Leader in Hampton Roads VA amp North America
780 Pilot House Drive Building 400B Newport News VA 23606
office 757-873-6731 bull cell 757-286-6731 bull fax 757-273-8275email billmcfallcoxnet
wwwRealEstateBookHRcom
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Interested in advertising your company Click here for our 2016 Adverstising Information
or call us at 757-599-5222 today
PeninsulaREALTORreg Jan - Feb 2016page 34
The PeninsulaPerspective by Jim Wetzel RCE CEO
Nobody will ever deprive the American people of the right to vote except the American people themselves and the only way they could do this is by not voting
Franklin D Roosevelt
This past week I was honored to attend our REALTOR Legislative Meetings in Richmond VA together with our members arriving from all corners of the commonwealth We arrived with a common mission of taking our message to our legislators on the many ways we can improve the real estate industry and homeownership opportunities in our communities
With pride our members spoke of the improvements in the real estate indus-
try over the past year and highlighted our recommendations on how together REALTORS and our legislative partners can make things even better in the years ahead We highlighted important chang-es that we felt would make not only the industry better but the lives of all who call Virginia their home
We spoke together and our legislators listened We made a difference
On March 1st the process of selecting our next President of the United States begins We have listened to the debates been inundated by the media heard from the political commentators and heard the endorsements
Now it is time for us to speak We can make a difference one vote at a time
PeninsulaREALTORreg Jan - Feb 2016page 35
adapted homes for severely injured post-911 veterans Each home is built with features that accommodate the needs of the veteran and offered mortgage-free so that the veteran can focus on recovery and rebuilding a healthy life Operating for 11 years Homes for Our Troops has built over 190 homes across the United States and currently has five projects underway in Virginia The organization is top-rated for financial stewardship and operations and works carefully with each veteran on homeownership readiness and responsibility
In August 2015 the Virginia Association of REALTORSreg became a regional corpo-rate partner of Homes for Our Troops in a lasting commitment to the housing needs of Virginia veteran and military families With hundreds of contributors and over $60000 in the first few months of part-nership REALTORSreg across the state are engaged in supporting the projects underway and the veterans in their com-munities
One of the first homes that Virginia REAL-TORSreg and HFOT built is located in York County The event during which the key is presented to the injured veteran will be held on March 6 2016 VPAR has been conducting outreach to area elected of-ficials inviting them to attend this special morning VPAR members can learn more details by visiting httpswwwhfotusaorgslate
PeninsulaREALTORreg Jan - Feb 2016page 7
The PeninsulaMonitor by Susan Gaston LEGISLATIVE CONSULTANT
Monthly Public Policy Report
ldquoTHE MONITORrdquo February 2016
Local Issues
Newport NewsVPAR is coordinating with the Wason Center for Public Policy at Christopher Newport University regard-ing public dissemination and media po-tential for the recently produced housing needs study and market needs analysis The study is a resource to the decision makers in the region particularly in the City and we want to position the Associa-tion as a leading organization in formulat-ing future housing policy
PoquosonMark your calendars for Friday May 6th The City is hosting its annual Residential REALTORreg Day where VPAR members can hear from City leaders tour the ldquoBull Islandrdquo and have a Fun Friday Been there done that Donrsquot worry VPAR is work-ing with the City to reformat the popular event so that it is new to even repeat at-tendees More to comehellip
York County Last year the Virginia Association of RE-ALTORSreg (VAR) partnered with Homes for our Troops (HFOT) a national non-profit organization that builds specially
Regional Issues
Local voters will go to the polls in Hamp-ton and Newport News on Tuesday May 3rd Hampton elections will include voting for Mayor and three At-Large City Council seats with Mayor George Wal-lace and Council Members Linda Curtis Billy Hobbs and Chris Snead all seeking re-election Other candidates likely will be coming forward before the March 15th filing deadline
In Newport News three incumbents will be seeking re-election to City Council In the Central District incumbent Pat Wood-bury will be challenged by Mike Mullin Councilman Rob Coleman in the North District currently is running unopposed as is South District Councilwoman Tina Vick
VPARrsquos Public Policy Committee will be conducting candidate interviews for the purposes of endorsing pro-housing pro-business candidates and supporting their campaigns with funds from the REAL-TORSreg Political Action Committee (RPAC) of Virginia
State Issues
At the time of this writing the 2016 General Assembly Session has reached the halfway mark and is in the final two weeks of legislative work REALTORreg bills are in strong shape as the House and
Senate finalize committee action
HB 577AgencyLicensing Law Revisions Passed the House 97-0 020316Passed the Senate 40-0 022516On Governorrsquos Deskhttplisvirginiagovcgi-binlegp604exe161+ful+HB567+pdf
HB 577 InterpleaderEscrow Accounts Passed the House 98-0 020216Reported from Senate Courts of Justice Committee 022416httplisvirginiagovcgi-binlegp604exe161+ful+HB577+pdf
HB 684POACOA Amendments Passed the House 99-0 021016Reported from the Senate General Laws amp Technology Committee 15-0 022216httplisvirginiagovcgi-binlegp604exe161+ful+HB684+pdf
SB 453Licensing of Home Inspectors Passed the Senate 30-9 012916Passed the House 100-0 022216On Governorrsquos Deskhttplisvirginiagovcgi-binlegp604exe161+ful+SB453+pdf
A more detailed legislative report will be forthcoming as more bills report out of Committee and move off of the floors
PeninsulaREALTORreg Jan - Feb 2016page 8
The PeninsulaMonitor Continues
PeninsulaREALTORreg Jan - Feb 2016page 9
2016 REALTOR Day on the HillRichmond VA
Virginia Peninsula Association of REALTORSawarded the 2015 RPAC Triple Crown
at the RPAC Awards Ceremony
Recognized for Meeting amp Exceeding2015 RPAC Fundrasing Goal
2015 RPAC Participation Goal2015 Major Investor Goal
Shown accepting award Dewey Hutchins 2015 President Carla Carney 2015 RPAC Chair Karla Grase RPAC Vice Chair Andy Cohen 2016 President Jim Wetzel CEO and
Bill White 2016 VAR President
PeninsulaREALTORreg Jan - Feb 2016page 10
The PeninsulaMarket by the Virginia Association of REALTORSreg
January 2016 Homes Sales Report Steady start to the Virginia housing market in new year - Median sales price up more
than 3 percent YOY - January 2016 residential real estate sales top $174 billionAccording to the Virginia Association of REALTORSreg (VAR) January 2016 Home Sales Report residential real estate sales in the first month of the year reflected typical indus-try seasonality Historically January is the slowest month for home sales and this year was particularly affected by a catastrophic winter weather event Despite significant disruption to market activity from Winter Storm Jonas volume declined by less than one percent year-over-year remaining near static with January 2015 Median sales price rose year-over-year contributing to a higher total transaction value than January 2015 The value of transactions in January 2016 exceeded $174 billion an outperformance of the same month last year despite near even sales numbers Median sales price for Janu-ary 2015 rose 326 percent from the same period last year from $237750 to $245500 and more than 7 percent from January 2014 ($228380) Year-over-year elevation indi-cates sustainable market improvement Read the full report here
PeninsulaREALTORreg Jan - Feb 2016page 11
Federal Issues
NAR TESTIFIES ON VETERANSrsquo HOUSING
On Feb 10 NAR 2016 Vice President Sherri Meadows testified before the House Veterans Affairs Subcommittee on Economic Opportunity at a hearing entitled ldquoA Review of VArsquos Loan Guaranty and Specially Adaptive Housing Grant Programs (SAH)rdquo The testimony focused on long-term REALTORreg support for the VA home loan guaranty and the benefits it provides our nationrsquos veterans According to the 2015 NAR Homebuyer and Seller Survey one in five buyers was a veteran or active duty service member NAR recommends all REALTORSreg ask their clients if they have ever served as this program provides zero-downpayment loans and favorable terms to eligible veterans
In the testimony Meadows asked for three enhancements to the program to make it even more useful for veterans 1) increase the loan limits for VA VA is not just another loan program - itrsquos an entitlement Veterans should not be prohibited from using their guaranty in high cost areas 2) ease restrictions on what the veteran can pay in the mortgage transactions Veterans are often disadvantaged when bidding on a home due to their inability to negotiate certain fees and 3) incentivize lenders to offer
an FHA 203k-type product for veterans This type of loan includes the costs of rehabilitation and repairs and could allow veterans better access to homes that need some work
NAR also supported increasing efficiency in the specially-adapted housing (SAH) grant programs and urged the Committee to make the VA loan as useful as possible for all our nationrsquos veterans so it may be a real benefit to those who have so bravely served our country
Watch the video here httpswwwyoutubecomwatchv=VW_srZ1yUcw
HOUSE PASSES VA LOAN BILL
In early February the House of Representatives passed legislation which included a provision to eliminate the cap on VA loan limits The bill HR 3016 ldquoVeterans Employment Education and Healthcare Improvement Actrdquo sponsored by Rep Wenstrup (R-OH) included an amendment added by Rep Zeldin (R-NY) in Committee that would allow veterans to purchase a home in high cost areas by eliminating the maximum loan amount on VA loans As stated in the accompanying report ldquoThe Committee is confident VArsquos current strict underwriting standards and low foreclosure rates will ensure that veterans still have the required good credit and income to qualify for the loan and that this change will not
PeninsulaREALTORreg Jan - Feb 2016page 12
The PeninsulaMonitor continued
PeninsulaREALTORreg Jan - Feb 2016page 13
result in a significant increased amount of foreclosuresrdquo NAR has long supported the VA home loan guaranty program and believes that as an entitlement program our nationrsquos veterans should have the freedom to purchase a home wherever they choose to live
Should you have questions on these or other issues or for additional details please contact Susan Gaston VPARrsquos Legislative Consultant at 757-871-1445 or at susangastongroupcom
PeninsulaREALTORreg Jan - Feb 2016page 14
The PeninsulaMonitor continued
Commuting Costs Important to Home Buyers
Even with plunging gas prices the cost of commuting to and from the office can be pricey (as well as stressful) But how much does that commute play into the homebuying process According to research from the National Association of REALTORSreg commuting costs defi-nitely come into play in searching for and purchasing that dream home in fact 30 percent of homebuyers purchased homes last year to cut down on commut-ing costsmdasha factor they cited as ldquovery importantrdquo Additionally 64 percent of buyers bought their home in part because it was convenient to their job this was so important that 23 percent of those buyers said they compromised on the price of their home to be physi-cally closer to work mak-ing more time for the other important things in their life such as spending time with friends and family
Take a look at NARrsquos 2015 Profile of Home Buyers and Sellers Read more about this topic on NARrsquos Econo-mistsrsquo Outlook blog
The PeninsulaMarket Tips
PeninsulaREALTORreg Jan - Feb 2016page 15
REALTORSreg amp RESPA
Are Realtors Getting Reli-gion
Most Realtors are aware of the anti-kick-back provi-sions of the
Real Estate Settlement Procedures Act ldquoNo man shall giveth Yea neither shall he receiveth any thing of value to God or Mammon pursuant to any covenant under the heavens that calleth for referrals of settlement servicesrdquo Book of RESPA 84
This well-known proverb articulates the received wisdom of Congress that refer-ral fees unnecessarily add to the cost of settlements and thus make housing less affordable for Godrsquos children Not every-one agrees however RESPA expert Phillip Schulman for instance has articulated a three-part test to determine the legality of any particular activity under RESPA First Does the activity make business sense that is does it tend to increase efficiency decrease waste and lower costs Second Does the activity benefit the parties to the transaction (here the brokers borrowers buyers and sellers) And finally Would the activity be permitted in almost any
other arena of commerce as accepted and ethical business practice If the answer to all three questions is yes then the activity says Schulman is almost certainly illegal under RESPA
The essence of Section 8 of RESPA seems to be that while the business expense of a targeted and highly effective referral fee paid by a lender to a referral source must be recovered by the lender in the form of higher loan costs the highly inefficient ad-vertising that replaces the referral source does not You can decide what to make of that argument
However we have to live with the RE-SPA prohibition against paid referrals as valueless acts that serve only to drive up costs But even RESPA acknowledges that it is legal to be paid for services actually performed up to the value of the services if the services are not referrals (which by definition have no value) And it is legal to refer business to an entity of which you are an owner as long as your compen-sation is based on your profit from the entity and not linked to the referral per se And thereon hangs an interesting tale
Lenders and other settlement service pro-viders long ago discovered that offering a piece of the pie to sources of referrals made good business sense Thus we have seen a proliferation of real estate broker-
Risk ManagementREALTORSreg and RESPAby Blake Hegeman CAE Deputy General Counsel
PeninsulaREALTORreg Jan - Feb 2016page 16
Risk ManagementREALTORSreg and RESPAby Blake Hegeman CAE Deputy General
lender lender-title company broker-settlement agency joint ventures over the years These couplings make great sense and afford the participants incentives to refer business to the joint venture partner This type of relationship does not violate RESPA if the benefit accruing to the referral source is strictly according to ownership interest in the benefited entity and the consumer to whom a referral is made is given the RESPA Miranda warning ndash basically that the person making the referral may benefit from it that the service will cost a certain amount and that the consumer might find the service cheaper elsewhere These relationships are legal and ethical and can be quite beneficial
Now because RESPA permits service pro-viders to pay for service actually performed some have tried ndash with varying degrees of
success ndash to skirt RESPA by paying more than the service is worth or for duplicative efforts or even for only nominal ndash or no -- service These ldquodisguisedrdquo referral fees are illegal and much despised by HUD who seeketh after them like the righteous man seeketh after salvation
That brings us to a more recent phenom-enon the efforts of some mortgage brokers and lenders to avoid the strictures of RESPA by hiring referral sources as employees and paying them for work they do as employees Of course much or all of that work will be for clients referred by the employee but if the employeremployee relationship is bona fide and the salary is for -- and commen-surate with -- services actually performed the relationship can be legal Itrsquos likely that HUD will apply something like the IRS test to determine whether the employee really is an employee and virtually everyone acknowledges that merely giving the ldquoem-ployeerdquo a W-2 and calling her an employee will not be enough
PeninsulaREALTORreg Jan - Feb 2016page 17
Risk ManagementREALTORSreg and RESPAby Blake Hegeman CAE Deputy General
We also need to be aware of another limita-tion imposed by Virginia law even when the labyrinth of RESPA has been negotiated The Virginia Mortgage Lender and Bro-ker Act provides in Section 61-422 that a person may not receive a fee as a mortgage broker and a real estate broker for services performed in the same transaction unless the person was licensed and regularly engaged in mortgage brokerage in Virginia as of Feb-ruary 1989 This resolution of a turf battle between mortgage and real estate brokers was weakened by a provision permitting real estate brokers (but not salespersons) who are owners of a real estate firm to own
an interest in a mortgage lender or broker and to profit from such investment and be compensated for services actually performed for those entities But the prohibition on dual brokerage fees to non-grandfathered persons persists
These are only a few examples from the veritable patchwork quilt of efforts to overcome RESPArsquos prohibition on referral fees Perhaps what Realtors need most to be aware of is that HUD approaches what it sees as RESPA violations with a fervent zeal displayed few other places If you are look-ing for a way to receive a fee for referring settlement business look for another way to make a buck If yoursquore willing to work le-gitimately for a service provider and get paid for the value of what you do -- and no more ndash there are opportunities out there awaiting
NEW Womens Council of REALTORSreg Coastal Chapter at VPAR
PeninsulaREALTORreg Jan - Feb 2016page 18
PeninsulaREALTORreg UPCOMING EVENTSby Jo McNamara Daly Director of education and events
Save The Dates
March 5th - OSC Awards Banquet at City Center
March 22nd - Lunch amp Learn SEO
April 12th - VRLTA Seminar with Chip Dicks
April 19th - General Membership Meeting at VPAR
May 9th - 14th - NAR Legisilative Conference in DC
PeninsulaREALTORreg Jan - Feb 2016page 19
Ready To Get StartedCONTACT ATLANTIC BAY TODAY
For examplehellip A borrower age 72 with a purchase price of $200000 would require ONLY $92000 at closing for the Reverse Mortgage
Homeowner continues to pay insurance and property taxes live in and maintain home Home must be primary residence Program not currently available in all states People portrayed are professional models and are used for illustrative purposes only Terms and conditions subject to change without notice Consult your tax advisor before choosing a reverse mortgage
Clients Mustbull Be 62 or older to qualify (at least one person-can have younger spouse as non-borrower to
qualify)
bull Own your home outright (or have a low mortgage balance that can be paid off at closing with proceeds from the reverse loan or have a large down payment to purchase)
bull Have the financial resources to pay ongoing property charges including taxes and insurance
bull Live in the home
You donrsquot make payments while you live in the house but the loan and interest come due when you sell move out for 12 months or more or last person leaves the house permanently
DAWN ST CLAIR PHILLIPSSr Mortgage BankerNMLS 115936757-715-5733dawnphillipsatlanticbaycomatlanticbaycomdawnphillipscom
Did you knowYOU CAN USE A REVERSE MORTGAGE TO PURCHASE A HOME
ARE YOU CONSIDERING MOVING CLOSER TO YOUR FAMILY OR DOWNSIZING TO A HOME THAT BETTER SUITS YOUR NEEDSOR LOOKING TO STAY IN YOUR HOME AND NEED ADDITIONAL INCOME
PeninsulaREALTORreg Jan - Feb 2016page 20
PeninsulaREALTORreg Jan - Feb 2016page 21
PeninsulaREALTORreg Jan - Feb 2016page 22
The PeninsulaRealEstateSchoolby Jo Mcnamara Daly Director of Education amp Events
2016 Continuing Education Classes Location
VPAR Building 1001 North Campus Parkway
Hampton VA 23666 757-599-5222
Payment MUST be made at time of registration Register online at membersvparorg and click on Member Service Center to login or complete this form and fax to 757-596-3911 or email to jovparorg VPAR reserves the right to cancel a class if less than 10 people are registered 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 12 Tuesday July 12 Tuesday Feb 9 Tuesday Aug 9 Tuesday Mar 8 Tuesday Sept 13 Tuesday Apr 5 Tuesday Oct 11 Tuesday May 10 Tuesday Nov 8 Tuesday June 21 Tuesday Dec 6
All 8 Hour Classes are from 830 ammdash530 pm
Code of Ethics (Meets NAR Quadrennial Requirements) amp Code of Conduct
Fair Housing Legal Updates amp Emerging Trends (Law) Flood Insurance amp Flood Map Instruction Real Estate Contracts Real Estate Agency
8-HR Elective CE Class Dates
Thursday Feb 16 Tuesday Sept 20 Tuesday May 17 Tuesday Nov 15
Anti-Trust Disclosures Professionalism Safety Do-Nots
3-HR Code of Ethics Course
Thursday November 3rd from 1ndash 4 pm Thursday December 8th from 1-4 pm
More dates to be added soon Meets NAR Quadrennial Requirements
Peninsula Real Estate School owned and operated by
Virginia Peninsula Association of REALTORSreg
Registration Form
Name Company Address City State Zip Phone Email License ______ Exp Date _
Method of Payment
Check Invoice Office Visa MasterCard AMX Discover Card Name on Card ____________________________ Credit Card _____ Exp Date Signature _____ Name on Card _________________________ Amount Due (check appropriate box) 8-Hour Course VPAR Member $50 8-Hour Course Non-Member $60 3-Hour Ethics Course VPAR Member $30 3-Hour Ethics Course VPAR Non-Member $35
PeninsulaREALTORreg Jan - Feb 2016page 23
Chip Dicks VAR Legislative
Counsel
The Virginia Peninsula Association of REALTORSreg in cooperation with
The Virginia Association of REALTORSreg presentshellip
VRLTA Update with Chip Dicks
Get the information you need on the updatedVirginia Residential Landlord Tenant Act
Tuesday April 12th 2016 900 am ndash 400 pm
_________________
$12500 per member $13000 per non-member
Virginia Peninsula Association of REALTORSreg 1001 North Campus Parkway Hampton 23666
Sponsor LUNCH INCLUDED
VRLTA Update with Chip Dicks ndash April 12th 2016Pending REB Approval for 3 Hours Legal Update amp 3 Hours Real Estate Related CE
Pending REB Approval for 2 Hours of Current Industry IssuesTrends Course will be submitted for approval at the end of the general assembly session to include anyall changes in the VRLTA
NAME FIRM
ADDRESS
CITY STATE ZIP
PHONE E-MAIL
Method of PaymentCheck ____ Visa MasterCard____ Discover___ AMX____
Credit Card Exp date
Signature(Your signature indicates acceptance of VPAR registration policy and authorization of credit card charges)
Name on credit card_______________________________________
PLEASE RETURN TO VPAR AT FAX NUMBER 757-596-3911 MAIL TO VPAR 1001 North Campus Parkway Hampton VA 23666 or register online at membersvparorg
QUESTIONS CALL 757-599-5222Cancellations must be received within 48 hours of the event to receive full refund On-site registration fee is $135 Please notify us in advance if you have a disability that requires special services
bull Get up to speed on the recent changes to the Virginia Residential Landlord and Tenant Act
bull Designed for both real estate brokers and sales persons this course offers a detailed review of lease applications
bull A ldquohow tordquo guide for broker agent compliance bull The awareness and information you need to protect your
business
Approved for
6 hrs CE and 2 hrs PL Credit
PeninsulaREALTORreg Jan - Feb 2016page 24
REINMLScom ndash A Valuable Member Resource
This year REIN unveiled a new and improved REINMLScom website If you havenrsquot logged in yet please be sure to do so and take advantage of all the site has to offer
If you have never been to REINrsquos member website and are wondering what it offers think of it as a ldquohubrdquo to all things REIN‐related From REINMLScom you can access Fusion and Matrix find market statistics and graphs the current monthrsquos training calendar PDF copies of REINrsquos contracts and forms and much more You can even access your membership account to review and pay invoices online
The new mobile friendly website offers you a fresh look eye‐catching graphics and improved navigation that makes information easy to find Plus two great new featureshellip
A lsquoSYSTEM STATUSrsquo section has been added to the home page of the website to identify when REINrsquos MLS systems and programs are experiencing known issues such as updates service interruptions or down time
The second new feature is lsquoASK REINrsquo ndash a robust technical support module ASK REIN allows you to search online documentation that can help you troubleshoot commonly asked technical questions and if you canrsquot find the answers you are searching for then you can lsquoSubmit a Support Requestrsquo to REINrsquos Tech Support Department directly from the website
To access the full benefits of REINMLScom members must log into the site using their REIN ID and a password If you have not already done so please establish a password for this website by clicking on lsquoChangeForgot Passwordrsquo located next to the green Log In button in the top right corner of the screen Then check your email for a link to reset your password If you still cannot log into the site please contact REINrsquos Tech Support at 7575317901 or supportreininccom
Check it out today wwwREINMLScom
PeninsulaREALTORreg Jan - Feb 2016page 25
Scenes From Our January Social At BJrsquos at Tech Center amp February at UNOrsquos
THANKS TO OUR ALL SPONSORS MARES Exterminating AT BJrsquos andFidelity Bank Mortgage at UnOrsquos
Vpar SOCIAL HAPPENINGS
PeninsulaREALTORreg Jan - Feb 2016page 26
The Virginia Peninsula Association of REALTORSreg presentshellip
The Accredited Buyer Representative Designation
(Approved for 13HRS CE credit)
Instructor Pat Snyder
Accredited Buyer Representative Designation Course ndash April 7 amp 8 2016
NAME FIRM
ADDRESS MEMBER
CITY STATE ZIP
PHONE E-MAIL
Method of Payment Check
Credit Card Exp date
Signature (Your signature indicates acceptance of VPAR registration policy and authorization of credit card charges) Real Estate License Exp date
PLEASE RETURN TO VPAR AT FAX NUMBER 757-596-3911 MAIL TO VPAR 1001 North Campus Parkway Hampton VA 23666 or register online at membersvparorg
QUESTIONS CALL 757-599-5222 Cancellations must be received within 48- business hours of course to receive a refund Registrations are
non-transferable On-site late registration fee is $325 VPAR RESERVES THE RIGHT TO CANCEL THE COURSE IF MINIMUM REGISTRATIONS ARE NOT MET
Please notify us in advance if you have a disability that requires special services
Thursday amp Friday April 7 amp 8 2016 830 am ndash 500 pm
APRIL IS A SPECIAL DISCOUNT MONTH (REGULAR MEMBER RATE IS $295)
VPAR Headquarters Training Room A 1001 North Campus Parkway Hampton VA 23666 Early Bird Pricing before April 1 by NOON
Members $255 Non-Members $275
Register after Members $275 Non-Members $300
On-site registration fee is $325
PeninsulaREALTORreg Jan - Feb 2016page 27
VPAR Peninsula Partners include the following loyal firms who have stepped up to support VPARevents and education throughout the year This program reflects a commitment to provide REALTORreg
members with the best business environment while connecting to industry professionals whoprovide valuable products and services It is designed to create a unique partnership between
sponsors and the Association where both members and sponsors benefit greatly through the abilityto network exchange ideas and conduct business
PeninsulaREALTORreg Jan - Feb 2016page 28
VPAR Members Supporting Our Communities atThe Poquoson Neighborhood Food Distribution
for the Peninsula Food Bank
PeninsulaREALTORreg Jan - Feb 2016page 29
CONTACT A LOCAL LOAN OFFICER AT 1-877-573-2324gt KIMBERLY CRESS EXT 21238gt LASHEKA PEARSON-PARKER EXT 21210gt NATASHA THOMAS EXT 21104
Federally insured by NCUA 100 financing loans include an additional funding fee which may be financed up to the maximum loan amount Product features subject to approval copy 2016 Navy Federal NFCU 13490 (2-16)
THEYrsquoLL ENJOY
gt no application feegt 100 financing optionsgt up to 6 seller contribution allowed
HELP YOUR CLIENTS UNLOCK THE DOOR TO THEIR FIRST HOME
13490_Peninsula_Realtor_Mag_Ad_2_162indd 1 2416 202 PM
PeninsulaREALTORreg Jan - Feb 2016page 30
smile you can have 2-10 Home Buyers Warrantyreg
on your team with our industry leading Home
Warranty Service Agreement
bull Over 55 million homes protected
bull Over 975 of claims paid
bull A Rating with the Better Business Bureau (BBB)
Carolyn Ricketts Account Executive5716068051| cricketts2-10com
Defeated a 500 Increase We helped to defeat a budget amendment that would have increased the deductible that property owners including
YOUR clients pay to have their leaking underground oil tanks cleaned up and repaired by 500 The current $500 deductible was proposed to go up to $2500
The petroleum tank increase was a budget amendment
Prison time 1 to 6 years We added a felony charge to any criminal who lures or entices a REALTORreg to a property with the intent to do harm
The added felony will increase a criminalrsquos sentence by up to 6 years The 1-6 years are the statutory sentencing guidelines
Save $150 - $500hr on attorneysrsquo fees We continued to refine legislation that allows property managers to represent your clients in General District court
without needing an attorney So how much would your attorney charge per hour Typically attorney fees range from $150 - $500hr
$12000 back to consumers Under a new law that VAR drafted we have made it easier for Virginia consumers who have received a court judgment to
collect damages from the Real Estate Transaction Recovery Fund The average claim is approximately $12000 The $12000 figure is an estimate by the DPOR finance staff on the average claim that comes before the Board
Wiped out $200per Sign Fines We worked with a state legislator to prevent a proposal creating daily fines of $200 for any sign in any public right of
way How often do you use such signs for your listings 10 days for 1 sign = $2000 The $200 per sign was the language in the proposed bill VAR was able to stop
Keep RPAC of Virginia working for you Without your support RPAC cannot remain a powerful voice on key legislative issues Your dollars help us make our voice heard
Visit VirginiaRealtorsChoosecom
RPAC of VIRGINIA VICTORIES BY THE NUMBER$
RPAC makes a difference Just look at the numbers
PeninsulaREALTORreg Jan - Feb 2016page 32
January 2016 Virginia residential real estate sales showed typical industry seasonality January tends to be the slowest month for home sales and this year was particularly affected by catastrophic Winter Storm Jonas In spite of blizzard conditions that halted market activity for several days sales volume was nearly on par with the same month last year The value of transactions in January 2016 exceeded $174 billion an out performance of the previous January Median sales price rose 326 percent year-over-year and more than 7 per-cent from January 2014 Year-over-year elevation indicates sustainable market improvement Click here for the complete report httptinyurlcomj7k254s
Full service marketing amp innovative mobile platformsall designed with your business in mind
NMLS 176544 Member FDIC
MonarchWhere homebuying dreams take flight
PeninsulaREALTORreg Jan - Feb 2016page 33
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAIL
Featuring250 characters25 per lineEast WilmingtonRutherford Grand LakesArington Hills CoolidgeElrot Florence GilbertGold Canyon King andQueen Cedar CrestBristol Newport JacksonMadison ElbertvilleBarrowALL ACROSS NORTH AMERICA
THERealEstateBookreg
Volume 00 Issue 00
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAILTo see a sample listing on your smartphone Text T312634 to 85377
Learn more at RealEstateBookMediaKitcomFor FREE MAGAZINES or to ADVERTISE visit our website or call 800-841-3401
Bill McFallMarket Representative
The Market Leader in Hampton Roads VA amp North America
780 Pilot House Drive Building 400B Newport News VA 23606
office 757-873-6731 bull cell 757-286-6731 bull fax 757-273-8275email billmcfallcoxnet
wwwRealEstateBookHRcom
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Interested in advertising your company Click here for our 2016 Adverstising Information
or call us at 757-599-5222 today
PeninsulaREALTORreg Jan - Feb 2016page 34
The PeninsulaPerspective by Jim Wetzel RCE CEO
Nobody will ever deprive the American people of the right to vote except the American people themselves and the only way they could do this is by not voting
Franklin D Roosevelt
This past week I was honored to attend our REALTOR Legislative Meetings in Richmond VA together with our members arriving from all corners of the commonwealth We arrived with a common mission of taking our message to our legislators on the many ways we can improve the real estate industry and homeownership opportunities in our communities
With pride our members spoke of the improvements in the real estate indus-
try over the past year and highlighted our recommendations on how together REALTORS and our legislative partners can make things even better in the years ahead We highlighted important chang-es that we felt would make not only the industry better but the lives of all who call Virginia their home
We spoke together and our legislators listened We made a difference
On March 1st the process of selecting our next President of the United States begins We have listened to the debates been inundated by the media heard from the political commentators and heard the endorsements
Now it is time for us to speak We can make a difference one vote at a time
PeninsulaREALTORreg Jan - Feb 2016page 35
Regional Issues
Local voters will go to the polls in Hamp-ton and Newport News on Tuesday May 3rd Hampton elections will include voting for Mayor and three At-Large City Council seats with Mayor George Wal-lace and Council Members Linda Curtis Billy Hobbs and Chris Snead all seeking re-election Other candidates likely will be coming forward before the March 15th filing deadline
In Newport News three incumbents will be seeking re-election to City Council In the Central District incumbent Pat Wood-bury will be challenged by Mike Mullin Councilman Rob Coleman in the North District currently is running unopposed as is South District Councilwoman Tina Vick
VPARrsquos Public Policy Committee will be conducting candidate interviews for the purposes of endorsing pro-housing pro-business candidates and supporting their campaigns with funds from the REAL-TORSreg Political Action Committee (RPAC) of Virginia
State Issues
At the time of this writing the 2016 General Assembly Session has reached the halfway mark and is in the final two weeks of legislative work REALTORreg bills are in strong shape as the House and
Senate finalize committee action
HB 577AgencyLicensing Law Revisions Passed the House 97-0 020316Passed the Senate 40-0 022516On Governorrsquos Deskhttplisvirginiagovcgi-binlegp604exe161+ful+HB567+pdf
HB 577 InterpleaderEscrow Accounts Passed the House 98-0 020216Reported from Senate Courts of Justice Committee 022416httplisvirginiagovcgi-binlegp604exe161+ful+HB577+pdf
HB 684POACOA Amendments Passed the House 99-0 021016Reported from the Senate General Laws amp Technology Committee 15-0 022216httplisvirginiagovcgi-binlegp604exe161+ful+HB684+pdf
SB 453Licensing of Home Inspectors Passed the Senate 30-9 012916Passed the House 100-0 022216On Governorrsquos Deskhttplisvirginiagovcgi-binlegp604exe161+ful+SB453+pdf
A more detailed legislative report will be forthcoming as more bills report out of Committee and move off of the floors
PeninsulaREALTORreg Jan - Feb 2016page 8
The PeninsulaMonitor Continues
PeninsulaREALTORreg Jan - Feb 2016page 9
2016 REALTOR Day on the HillRichmond VA
Virginia Peninsula Association of REALTORSawarded the 2015 RPAC Triple Crown
at the RPAC Awards Ceremony
Recognized for Meeting amp Exceeding2015 RPAC Fundrasing Goal
2015 RPAC Participation Goal2015 Major Investor Goal
Shown accepting award Dewey Hutchins 2015 President Carla Carney 2015 RPAC Chair Karla Grase RPAC Vice Chair Andy Cohen 2016 President Jim Wetzel CEO and
Bill White 2016 VAR President
PeninsulaREALTORreg Jan - Feb 2016page 10
The PeninsulaMarket by the Virginia Association of REALTORSreg
January 2016 Homes Sales Report Steady start to the Virginia housing market in new year - Median sales price up more
than 3 percent YOY - January 2016 residential real estate sales top $174 billionAccording to the Virginia Association of REALTORSreg (VAR) January 2016 Home Sales Report residential real estate sales in the first month of the year reflected typical indus-try seasonality Historically January is the slowest month for home sales and this year was particularly affected by a catastrophic winter weather event Despite significant disruption to market activity from Winter Storm Jonas volume declined by less than one percent year-over-year remaining near static with January 2015 Median sales price rose year-over-year contributing to a higher total transaction value than January 2015 The value of transactions in January 2016 exceeded $174 billion an outperformance of the same month last year despite near even sales numbers Median sales price for Janu-ary 2015 rose 326 percent from the same period last year from $237750 to $245500 and more than 7 percent from January 2014 ($228380) Year-over-year elevation indi-cates sustainable market improvement Read the full report here
PeninsulaREALTORreg Jan - Feb 2016page 11
Federal Issues
NAR TESTIFIES ON VETERANSrsquo HOUSING
On Feb 10 NAR 2016 Vice President Sherri Meadows testified before the House Veterans Affairs Subcommittee on Economic Opportunity at a hearing entitled ldquoA Review of VArsquos Loan Guaranty and Specially Adaptive Housing Grant Programs (SAH)rdquo The testimony focused on long-term REALTORreg support for the VA home loan guaranty and the benefits it provides our nationrsquos veterans According to the 2015 NAR Homebuyer and Seller Survey one in five buyers was a veteran or active duty service member NAR recommends all REALTORSreg ask their clients if they have ever served as this program provides zero-downpayment loans and favorable terms to eligible veterans
In the testimony Meadows asked for three enhancements to the program to make it even more useful for veterans 1) increase the loan limits for VA VA is not just another loan program - itrsquos an entitlement Veterans should not be prohibited from using their guaranty in high cost areas 2) ease restrictions on what the veteran can pay in the mortgage transactions Veterans are often disadvantaged when bidding on a home due to their inability to negotiate certain fees and 3) incentivize lenders to offer
an FHA 203k-type product for veterans This type of loan includes the costs of rehabilitation and repairs and could allow veterans better access to homes that need some work
NAR also supported increasing efficiency in the specially-adapted housing (SAH) grant programs and urged the Committee to make the VA loan as useful as possible for all our nationrsquos veterans so it may be a real benefit to those who have so bravely served our country
Watch the video here httpswwwyoutubecomwatchv=VW_srZ1yUcw
HOUSE PASSES VA LOAN BILL
In early February the House of Representatives passed legislation which included a provision to eliminate the cap on VA loan limits The bill HR 3016 ldquoVeterans Employment Education and Healthcare Improvement Actrdquo sponsored by Rep Wenstrup (R-OH) included an amendment added by Rep Zeldin (R-NY) in Committee that would allow veterans to purchase a home in high cost areas by eliminating the maximum loan amount on VA loans As stated in the accompanying report ldquoThe Committee is confident VArsquos current strict underwriting standards and low foreclosure rates will ensure that veterans still have the required good credit and income to qualify for the loan and that this change will not
PeninsulaREALTORreg Jan - Feb 2016page 12
The PeninsulaMonitor continued
PeninsulaREALTORreg Jan - Feb 2016page 13
result in a significant increased amount of foreclosuresrdquo NAR has long supported the VA home loan guaranty program and believes that as an entitlement program our nationrsquos veterans should have the freedom to purchase a home wherever they choose to live
Should you have questions on these or other issues or for additional details please contact Susan Gaston VPARrsquos Legislative Consultant at 757-871-1445 or at susangastongroupcom
PeninsulaREALTORreg Jan - Feb 2016page 14
The PeninsulaMonitor continued
Commuting Costs Important to Home Buyers
Even with plunging gas prices the cost of commuting to and from the office can be pricey (as well as stressful) But how much does that commute play into the homebuying process According to research from the National Association of REALTORSreg commuting costs defi-nitely come into play in searching for and purchasing that dream home in fact 30 percent of homebuyers purchased homes last year to cut down on commut-ing costsmdasha factor they cited as ldquovery importantrdquo Additionally 64 percent of buyers bought their home in part because it was convenient to their job this was so important that 23 percent of those buyers said they compromised on the price of their home to be physi-cally closer to work mak-ing more time for the other important things in their life such as spending time with friends and family
Take a look at NARrsquos 2015 Profile of Home Buyers and Sellers Read more about this topic on NARrsquos Econo-mistsrsquo Outlook blog
The PeninsulaMarket Tips
PeninsulaREALTORreg Jan - Feb 2016page 15
REALTORSreg amp RESPA
Are Realtors Getting Reli-gion
Most Realtors are aware of the anti-kick-back provi-sions of the
Real Estate Settlement Procedures Act ldquoNo man shall giveth Yea neither shall he receiveth any thing of value to God or Mammon pursuant to any covenant under the heavens that calleth for referrals of settlement servicesrdquo Book of RESPA 84
This well-known proverb articulates the received wisdom of Congress that refer-ral fees unnecessarily add to the cost of settlements and thus make housing less affordable for Godrsquos children Not every-one agrees however RESPA expert Phillip Schulman for instance has articulated a three-part test to determine the legality of any particular activity under RESPA First Does the activity make business sense that is does it tend to increase efficiency decrease waste and lower costs Second Does the activity benefit the parties to the transaction (here the brokers borrowers buyers and sellers) And finally Would the activity be permitted in almost any
other arena of commerce as accepted and ethical business practice If the answer to all three questions is yes then the activity says Schulman is almost certainly illegal under RESPA
The essence of Section 8 of RESPA seems to be that while the business expense of a targeted and highly effective referral fee paid by a lender to a referral source must be recovered by the lender in the form of higher loan costs the highly inefficient ad-vertising that replaces the referral source does not You can decide what to make of that argument
However we have to live with the RE-SPA prohibition against paid referrals as valueless acts that serve only to drive up costs But even RESPA acknowledges that it is legal to be paid for services actually performed up to the value of the services if the services are not referrals (which by definition have no value) And it is legal to refer business to an entity of which you are an owner as long as your compen-sation is based on your profit from the entity and not linked to the referral per se And thereon hangs an interesting tale
Lenders and other settlement service pro-viders long ago discovered that offering a piece of the pie to sources of referrals made good business sense Thus we have seen a proliferation of real estate broker-
Risk ManagementREALTORSreg and RESPAby Blake Hegeman CAE Deputy General Counsel
PeninsulaREALTORreg Jan - Feb 2016page 16
Risk ManagementREALTORSreg and RESPAby Blake Hegeman CAE Deputy General
lender lender-title company broker-settlement agency joint ventures over the years These couplings make great sense and afford the participants incentives to refer business to the joint venture partner This type of relationship does not violate RESPA if the benefit accruing to the referral source is strictly according to ownership interest in the benefited entity and the consumer to whom a referral is made is given the RESPA Miranda warning ndash basically that the person making the referral may benefit from it that the service will cost a certain amount and that the consumer might find the service cheaper elsewhere These relationships are legal and ethical and can be quite beneficial
Now because RESPA permits service pro-viders to pay for service actually performed some have tried ndash with varying degrees of
success ndash to skirt RESPA by paying more than the service is worth or for duplicative efforts or even for only nominal ndash or no -- service These ldquodisguisedrdquo referral fees are illegal and much despised by HUD who seeketh after them like the righteous man seeketh after salvation
That brings us to a more recent phenom-enon the efforts of some mortgage brokers and lenders to avoid the strictures of RESPA by hiring referral sources as employees and paying them for work they do as employees Of course much or all of that work will be for clients referred by the employee but if the employeremployee relationship is bona fide and the salary is for -- and commen-surate with -- services actually performed the relationship can be legal Itrsquos likely that HUD will apply something like the IRS test to determine whether the employee really is an employee and virtually everyone acknowledges that merely giving the ldquoem-ployeerdquo a W-2 and calling her an employee will not be enough
PeninsulaREALTORreg Jan - Feb 2016page 17
Risk ManagementREALTORSreg and RESPAby Blake Hegeman CAE Deputy General
We also need to be aware of another limita-tion imposed by Virginia law even when the labyrinth of RESPA has been negotiated The Virginia Mortgage Lender and Bro-ker Act provides in Section 61-422 that a person may not receive a fee as a mortgage broker and a real estate broker for services performed in the same transaction unless the person was licensed and regularly engaged in mortgage brokerage in Virginia as of Feb-ruary 1989 This resolution of a turf battle between mortgage and real estate brokers was weakened by a provision permitting real estate brokers (but not salespersons) who are owners of a real estate firm to own
an interest in a mortgage lender or broker and to profit from such investment and be compensated for services actually performed for those entities But the prohibition on dual brokerage fees to non-grandfathered persons persists
These are only a few examples from the veritable patchwork quilt of efforts to overcome RESPArsquos prohibition on referral fees Perhaps what Realtors need most to be aware of is that HUD approaches what it sees as RESPA violations with a fervent zeal displayed few other places If you are look-ing for a way to receive a fee for referring settlement business look for another way to make a buck If yoursquore willing to work le-gitimately for a service provider and get paid for the value of what you do -- and no more ndash there are opportunities out there awaiting
NEW Womens Council of REALTORSreg Coastal Chapter at VPAR
PeninsulaREALTORreg Jan - Feb 2016page 18
PeninsulaREALTORreg UPCOMING EVENTSby Jo McNamara Daly Director of education and events
Save The Dates
March 5th - OSC Awards Banquet at City Center
March 22nd - Lunch amp Learn SEO
April 12th - VRLTA Seminar with Chip Dicks
April 19th - General Membership Meeting at VPAR
May 9th - 14th - NAR Legisilative Conference in DC
PeninsulaREALTORreg Jan - Feb 2016page 19
Ready To Get StartedCONTACT ATLANTIC BAY TODAY
For examplehellip A borrower age 72 with a purchase price of $200000 would require ONLY $92000 at closing for the Reverse Mortgage
Homeowner continues to pay insurance and property taxes live in and maintain home Home must be primary residence Program not currently available in all states People portrayed are professional models and are used for illustrative purposes only Terms and conditions subject to change without notice Consult your tax advisor before choosing a reverse mortgage
Clients Mustbull Be 62 or older to qualify (at least one person-can have younger spouse as non-borrower to
qualify)
bull Own your home outright (or have a low mortgage balance that can be paid off at closing with proceeds from the reverse loan or have a large down payment to purchase)
bull Have the financial resources to pay ongoing property charges including taxes and insurance
bull Live in the home
You donrsquot make payments while you live in the house but the loan and interest come due when you sell move out for 12 months or more or last person leaves the house permanently
DAWN ST CLAIR PHILLIPSSr Mortgage BankerNMLS 115936757-715-5733dawnphillipsatlanticbaycomatlanticbaycomdawnphillipscom
Did you knowYOU CAN USE A REVERSE MORTGAGE TO PURCHASE A HOME
ARE YOU CONSIDERING MOVING CLOSER TO YOUR FAMILY OR DOWNSIZING TO A HOME THAT BETTER SUITS YOUR NEEDSOR LOOKING TO STAY IN YOUR HOME AND NEED ADDITIONAL INCOME
PeninsulaREALTORreg Jan - Feb 2016page 20
PeninsulaREALTORreg Jan - Feb 2016page 21
PeninsulaREALTORreg Jan - Feb 2016page 22
The PeninsulaRealEstateSchoolby Jo Mcnamara Daly Director of Education amp Events
2016 Continuing Education Classes Location
VPAR Building 1001 North Campus Parkway
Hampton VA 23666 757-599-5222
Payment MUST be made at time of registration Register online at membersvparorg and click on Member Service Center to login or complete this form and fax to 757-596-3911 or email to jovparorg VPAR reserves the right to cancel a class if less than 10 people are registered 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 12 Tuesday July 12 Tuesday Feb 9 Tuesday Aug 9 Tuesday Mar 8 Tuesday Sept 13 Tuesday Apr 5 Tuesday Oct 11 Tuesday May 10 Tuesday Nov 8 Tuesday June 21 Tuesday Dec 6
All 8 Hour Classes are from 830 ammdash530 pm
Code of Ethics (Meets NAR Quadrennial Requirements) amp Code of Conduct
Fair Housing Legal Updates amp Emerging Trends (Law) Flood Insurance amp Flood Map Instruction Real Estate Contracts Real Estate Agency
8-HR Elective CE Class Dates
Thursday Feb 16 Tuesday Sept 20 Tuesday May 17 Tuesday Nov 15
Anti-Trust Disclosures Professionalism Safety Do-Nots
3-HR Code of Ethics Course
Thursday November 3rd from 1ndash 4 pm Thursday December 8th from 1-4 pm
More dates to be added soon Meets NAR Quadrennial Requirements
Peninsula Real Estate School owned and operated by
Virginia Peninsula Association of REALTORSreg
Registration Form
Name Company Address City State Zip Phone Email License ______ Exp Date _
Method of Payment
Check Invoice Office Visa MasterCard AMX Discover Card Name on Card ____________________________ Credit Card _____ Exp Date Signature _____ Name on Card _________________________ Amount Due (check appropriate box) 8-Hour Course VPAR Member $50 8-Hour Course Non-Member $60 3-Hour Ethics Course VPAR Member $30 3-Hour Ethics Course VPAR Non-Member $35
PeninsulaREALTORreg Jan - Feb 2016page 23
Chip Dicks VAR Legislative
Counsel
The Virginia Peninsula Association of REALTORSreg in cooperation with
The Virginia Association of REALTORSreg presentshellip
VRLTA Update with Chip Dicks
Get the information you need on the updatedVirginia Residential Landlord Tenant Act
Tuesday April 12th 2016 900 am ndash 400 pm
_________________
$12500 per member $13000 per non-member
Virginia Peninsula Association of REALTORSreg 1001 North Campus Parkway Hampton 23666
Sponsor LUNCH INCLUDED
VRLTA Update with Chip Dicks ndash April 12th 2016Pending REB Approval for 3 Hours Legal Update amp 3 Hours Real Estate Related CE
Pending REB Approval for 2 Hours of Current Industry IssuesTrends Course will be submitted for approval at the end of the general assembly session to include anyall changes in the VRLTA
NAME FIRM
ADDRESS
CITY STATE ZIP
PHONE E-MAIL
Method of PaymentCheck ____ Visa MasterCard____ Discover___ AMX____
Credit Card Exp date
Signature(Your signature indicates acceptance of VPAR registration policy and authorization of credit card charges)
Name on credit card_______________________________________
PLEASE RETURN TO VPAR AT FAX NUMBER 757-596-3911 MAIL TO VPAR 1001 North Campus Parkway Hampton VA 23666 or register online at membersvparorg
QUESTIONS CALL 757-599-5222Cancellations must be received within 48 hours of the event to receive full refund On-site registration fee is $135 Please notify us in advance if you have a disability that requires special services
bull Get up to speed on the recent changes to the Virginia Residential Landlord and Tenant Act
bull Designed for both real estate brokers and sales persons this course offers a detailed review of lease applications
bull A ldquohow tordquo guide for broker agent compliance bull The awareness and information you need to protect your
business
Approved for
6 hrs CE and 2 hrs PL Credit
PeninsulaREALTORreg Jan - Feb 2016page 24
REINMLScom ndash A Valuable Member Resource
This year REIN unveiled a new and improved REINMLScom website If you havenrsquot logged in yet please be sure to do so and take advantage of all the site has to offer
If you have never been to REINrsquos member website and are wondering what it offers think of it as a ldquohubrdquo to all things REIN‐related From REINMLScom you can access Fusion and Matrix find market statistics and graphs the current monthrsquos training calendar PDF copies of REINrsquos contracts and forms and much more You can even access your membership account to review and pay invoices online
The new mobile friendly website offers you a fresh look eye‐catching graphics and improved navigation that makes information easy to find Plus two great new featureshellip
A lsquoSYSTEM STATUSrsquo section has been added to the home page of the website to identify when REINrsquos MLS systems and programs are experiencing known issues such as updates service interruptions or down time
The second new feature is lsquoASK REINrsquo ndash a robust technical support module ASK REIN allows you to search online documentation that can help you troubleshoot commonly asked technical questions and if you canrsquot find the answers you are searching for then you can lsquoSubmit a Support Requestrsquo to REINrsquos Tech Support Department directly from the website
To access the full benefits of REINMLScom members must log into the site using their REIN ID and a password If you have not already done so please establish a password for this website by clicking on lsquoChangeForgot Passwordrsquo located next to the green Log In button in the top right corner of the screen Then check your email for a link to reset your password If you still cannot log into the site please contact REINrsquos Tech Support at 7575317901 or supportreininccom
Check it out today wwwREINMLScom
PeninsulaREALTORreg Jan - Feb 2016page 25
Scenes From Our January Social At BJrsquos at Tech Center amp February at UNOrsquos
THANKS TO OUR ALL SPONSORS MARES Exterminating AT BJrsquos andFidelity Bank Mortgage at UnOrsquos
Vpar SOCIAL HAPPENINGS
PeninsulaREALTORreg Jan - Feb 2016page 26
The Virginia Peninsula Association of REALTORSreg presentshellip
The Accredited Buyer Representative Designation
(Approved for 13HRS CE credit)
Instructor Pat Snyder
Accredited Buyer Representative Designation Course ndash April 7 amp 8 2016
NAME FIRM
ADDRESS MEMBER
CITY STATE ZIP
PHONE E-MAIL
Method of Payment Check
Credit Card Exp date
Signature (Your signature indicates acceptance of VPAR registration policy and authorization of credit card charges) Real Estate License Exp date
PLEASE RETURN TO VPAR AT FAX NUMBER 757-596-3911 MAIL TO VPAR 1001 North Campus Parkway Hampton VA 23666 or register online at membersvparorg
QUESTIONS CALL 757-599-5222 Cancellations must be received within 48- business hours of course to receive a refund Registrations are
non-transferable On-site late registration fee is $325 VPAR RESERVES THE RIGHT TO CANCEL THE COURSE IF MINIMUM REGISTRATIONS ARE NOT MET
Please notify us in advance if you have a disability that requires special services
Thursday amp Friday April 7 amp 8 2016 830 am ndash 500 pm
APRIL IS A SPECIAL DISCOUNT MONTH (REGULAR MEMBER RATE IS $295)
VPAR Headquarters Training Room A 1001 North Campus Parkway Hampton VA 23666 Early Bird Pricing before April 1 by NOON
Members $255 Non-Members $275
Register after Members $275 Non-Members $300
On-site registration fee is $325
PeninsulaREALTORreg Jan - Feb 2016page 27
VPAR Peninsula Partners include the following loyal firms who have stepped up to support VPARevents and education throughout the year This program reflects a commitment to provide REALTORreg
members with the best business environment while connecting to industry professionals whoprovide valuable products and services It is designed to create a unique partnership between
sponsors and the Association where both members and sponsors benefit greatly through the abilityto network exchange ideas and conduct business
PeninsulaREALTORreg Jan - Feb 2016page 28
VPAR Members Supporting Our Communities atThe Poquoson Neighborhood Food Distribution
for the Peninsula Food Bank
PeninsulaREALTORreg Jan - Feb 2016page 29
CONTACT A LOCAL LOAN OFFICER AT 1-877-573-2324gt KIMBERLY CRESS EXT 21238gt LASHEKA PEARSON-PARKER EXT 21210gt NATASHA THOMAS EXT 21104
Federally insured by NCUA 100 financing loans include an additional funding fee which may be financed up to the maximum loan amount Product features subject to approval copy 2016 Navy Federal NFCU 13490 (2-16)
THEYrsquoLL ENJOY
gt no application feegt 100 financing optionsgt up to 6 seller contribution allowed
HELP YOUR CLIENTS UNLOCK THE DOOR TO THEIR FIRST HOME
13490_Peninsula_Realtor_Mag_Ad_2_162indd 1 2416 202 PM
PeninsulaREALTORreg Jan - Feb 2016page 30
smile you can have 2-10 Home Buyers Warrantyreg
on your team with our industry leading Home
Warranty Service Agreement
bull Over 55 million homes protected
bull Over 975 of claims paid
bull A Rating with the Better Business Bureau (BBB)
Carolyn Ricketts Account Executive5716068051| cricketts2-10com
Defeated a 500 Increase We helped to defeat a budget amendment that would have increased the deductible that property owners including
YOUR clients pay to have their leaking underground oil tanks cleaned up and repaired by 500 The current $500 deductible was proposed to go up to $2500
The petroleum tank increase was a budget amendment
Prison time 1 to 6 years We added a felony charge to any criminal who lures or entices a REALTORreg to a property with the intent to do harm
The added felony will increase a criminalrsquos sentence by up to 6 years The 1-6 years are the statutory sentencing guidelines
Save $150 - $500hr on attorneysrsquo fees We continued to refine legislation that allows property managers to represent your clients in General District court
without needing an attorney So how much would your attorney charge per hour Typically attorney fees range from $150 - $500hr
$12000 back to consumers Under a new law that VAR drafted we have made it easier for Virginia consumers who have received a court judgment to
collect damages from the Real Estate Transaction Recovery Fund The average claim is approximately $12000 The $12000 figure is an estimate by the DPOR finance staff on the average claim that comes before the Board
Wiped out $200per Sign Fines We worked with a state legislator to prevent a proposal creating daily fines of $200 for any sign in any public right of
way How often do you use such signs for your listings 10 days for 1 sign = $2000 The $200 per sign was the language in the proposed bill VAR was able to stop
Keep RPAC of Virginia working for you Without your support RPAC cannot remain a powerful voice on key legislative issues Your dollars help us make our voice heard
Visit VirginiaRealtorsChoosecom
RPAC of VIRGINIA VICTORIES BY THE NUMBER$
RPAC makes a difference Just look at the numbers
PeninsulaREALTORreg Jan - Feb 2016page 32
January 2016 Virginia residential real estate sales showed typical industry seasonality January tends to be the slowest month for home sales and this year was particularly affected by catastrophic Winter Storm Jonas In spite of blizzard conditions that halted market activity for several days sales volume was nearly on par with the same month last year The value of transactions in January 2016 exceeded $174 billion an out performance of the previous January Median sales price rose 326 percent year-over-year and more than 7 per-cent from January 2014 Year-over-year elevation indicates sustainable market improvement Click here for the complete report httptinyurlcomj7k254s
Full service marketing amp innovative mobile platformsall designed with your business in mind
NMLS 176544 Member FDIC
MonarchWhere homebuying dreams take flight
PeninsulaREALTORreg Jan - Feb 2016page 33
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAIL
Featuring250 characters25 per lineEast WilmingtonRutherford Grand LakesArington Hills CoolidgeElrot Florence GilbertGold Canyon King andQueen Cedar CrestBristol Newport JacksonMadison ElbertvilleBarrowALL ACROSS NORTH AMERICA
THERealEstateBookreg
Volume 00 Issue 00
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAILTo see a sample listing on your smartphone Text T312634 to 85377
Learn more at RealEstateBookMediaKitcomFor FREE MAGAZINES or to ADVERTISE visit our website or call 800-841-3401
Bill McFallMarket Representative
The Market Leader in Hampton Roads VA amp North America
780 Pilot House Drive Building 400B Newport News VA 23606
office 757-873-6731 bull cell 757-286-6731 bull fax 757-273-8275email billmcfallcoxnet
wwwRealEstateBookHRcom
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Interested in advertising your company Click here for our 2016 Adverstising Information
or call us at 757-599-5222 today
PeninsulaREALTORreg Jan - Feb 2016page 34
The PeninsulaPerspective by Jim Wetzel RCE CEO
Nobody will ever deprive the American people of the right to vote except the American people themselves and the only way they could do this is by not voting
Franklin D Roosevelt
This past week I was honored to attend our REALTOR Legislative Meetings in Richmond VA together with our members arriving from all corners of the commonwealth We arrived with a common mission of taking our message to our legislators on the many ways we can improve the real estate industry and homeownership opportunities in our communities
With pride our members spoke of the improvements in the real estate indus-
try over the past year and highlighted our recommendations on how together REALTORS and our legislative partners can make things even better in the years ahead We highlighted important chang-es that we felt would make not only the industry better but the lives of all who call Virginia their home
We spoke together and our legislators listened We made a difference
On March 1st the process of selecting our next President of the United States begins We have listened to the debates been inundated by the media heard from the political commentators and heard the endorsements
Now it is time for us to speak We can make a difference one vote at a time
PeninsulaREALTORreg Jan - Feb 2016page 35
PeninsulaREALTORreg Jan - Feb 2016page 9
2016 REALTOR Day on the HillRichmond VA
Virginia Peninsula Association of REALTORSawarded the 2015 RPAC Triple Crown
at the RPAC Awards Ceremony
Recognized for Meeting amp Exceeding2015 RPAC Fundrasing Goal
2015 RPAC Participation Goal2015 Major Investor Goal
Shown accepting award Dewey Hutchins 2015 President Carla Carney 2015 RPAC Chair Karla Grase RPAC Vice Chair Andy Cohen 2016 President Jim Wetzel CEO and
Bill White 2016 VAR President
PeninsulaREALTORreg Jan - Feb 2016page 10
The PeninsulaMarket by the Virginia Association of REALTORSreg
January 2016 Homes Sales Report Steady start to the Virginia housing market in new year - Median sales price up more
than 3 percent YOY - January 2016 residential real estate sales top $174 billionAccording to the Virginia Association of REALTORSreg (VAR) January 2016 Home Sales Report residential real estate sales in the first month of the year reflected typical indus-try seasonality Historically January is the slowest month for home sales and this year was particularly affected by a catastrophic winter weather event Despite significant disruption to market activity from Winter Storm Jonas volume declined by less than one percent year-over-year remaining near static with January 2015 Median sales price rose year-over-year contributing to a higher total transaction value than January 2015 The value of transactions in January 2016 exceeded $174 billion an outperformance of the same month last year despite near even sales numbers Median sales price for Janu-ary 2015 rose 326 percent from the same period last year from $237750 to $245500 and more than 7 percent from January 2014 ($228380) Year-over-year elevation indi-cates sustainable market improvement Read the full report here
PeninsulaREALTORreg Jan - Feb 2016page 11
Federal Issues
NAR TESTIFIES ON VETERANSrsquo HOUSING
On Feb 10 NAR 2016 Vice President Sherri Meadows testified before the House Veterans Affairs Subcommittee on Economic Opportunity at a hearing entitled ldquoA Review of VArsquos Loan Guaranty and Specially Adaptive Housing Grant Programs (SAH)rdquo The testimony focused on long-term REALTORreg support for the VA home loan guaranty and the benefits it provides our nationrsquos veterans According to the 2015 NAR Homebuyer and Seller Survey one in five buyers was a veteran or active duty service member NAR recommends all REALTORSreg ask their clients if they have ever served as this program provides zero-downpayment loans and favorable terms to eligible veterans
In the testimony Meadows asked for three enhancements to the program to make it even more useful for veterans 1) increase the loan limits for VA VA is not just another loan program - itrsquos an entitlement Veterans should not be prohibited from using their guaranty in high cost areas 2) ease restrictions on what the veteran can pay in the mortgage transactions Veterans are often disadvantaged when bidding on a home due to their inability to negotiate certain fees and 3) incentivize lenders to offer
an FHA 203k-type product for veterans This type of loan includes the costs of rehabilitation and repairs and could allow veterans better access to homes that need some work
NAR also supported increasing efficiency in the specially-adapted housing (SAH) grant programs and urged the Committee to make the VA loan as useful as possible for all our nationrsquos veterans so it may be a real benefit to those who have so bravely served our country
Watch the video here httpswwwyoutubecomwatchv=VW_srZ1yUcw
HOUSE PASSES VA LOAN BILL
In early February the House of Representatives passed legislation which included a provision to eliminate the cap on VA loan limits The bill HR 3016 ldquoVeterans Employment Education and Healthcare Improvement Actrdquo sponsored by Rep Wenstrup (R-OH) included an amendment added by Rep Zeldin (R-NY) in Committee that would allow veterans to purchase a home in high cost areas by eliminating the maximum loan amount on VA loans As stated in the accompanying report ldquoThe Committee is confident VArsquos current strict underwriting standards and low foreclosure rates will ensure that veterans still have the required good credit and income to qualify for the loan and that this change will not
PeninsulaREALTORreg Jan - Feb 2016page 12
The PeninsulaMonitor continued
PeninsulaREALTORreg Jan - Feb 2016page 13
result in a significant increased amount of foreclosuresrdquo NAR has long supported the VA home loan guaranty program and believes that as an entitlement program our nationrsquos veterans should have the freedom to purchase a home wherever they choose to live
Should you have questions on these or other issues or for additional details please contact Susan Gaston VPARrsquos Legislative Consultant at 757-871-1445 or at susangastongroupcom
PeninsulaREALTORreg Jan - Feb 2016page 14
The PeninsulaMonitor continued
Commuting Costs Important to Home Buyers
Even with plunging gas prices the cost of commuting to and from the office can be pricey (as well as stressful) But how much does that commute play into the homebuying process According to research from the National Association of REALTORSreg commuting costs defi-nitely come into play in searching for and purchasing that dream home in fact 30 percent of homebuyers purchased homes last year to cut down on commut-ing costsmdasha factor they cited as ldquovery importantrdquo Additionally 64 percent of buyers bought their home in part because it was convenient to their job this was so important that 23 percent of those buyers said they compromised on the price of their home to be physi-cally closer to work mak-ing more time for the other important things in their life such as spending time with friends and family
Take a look at NARrsquos 2015 Profile of Home Buyers and Sellers Read more about this topic on NARrsquos Econo-mistsrsquo Outlook blog
The PeninsulaMarket Tips
PeninsulaREALTORreg Jan - Feb 2016page 15
REALTORSreg amp RESPA
Are Realtors Getting Reli-gion
Most Realtors are aware of the anti-kick-back provi-sions of the
Real Estate Settlement Procedures Act ldquoNo man shall giveth Yea neither shall he receiveth any thing of value to God or Mammon pursuant to any covenant under the heavens that calleth for referrals of settlement servicesrdquo Book of RESPA 84
This well-known proverb articulates the received wisdom of Congress that refer-ral fees unnecessarily add to the cost of settlements and thus make housing less affordable for Godrsquos children Not every-one agrees however RESPA expert Phillip Schulman for instance has articulated a three-part test to determine the legality of any particular activity under RESPA First Does the activity make business sense that is does it tend to increase efficiency decrease waste and lower costs Second Does the activity benefit the parties to the transaction (here the brokers borrowers buyers and sellers) And finally Would the activity be permitted in almost any
other arena of commerce as accepted and ethical business practice If the answer to all three questions is yes then the activity says Schulman is almost certainly illegal under RESPA
The essence of Section 8 of RESPA seems to be that while the business expense of a targeted and highly effective referral fee paid by a lender to a referral source must be recovered by the lender in the form of higher loan costs the highly inefficient ad-vertising that replaces the referral source does not You can decide what to make of that argument
However we have to live with the RE-SPA prohibition against paid referrals as valueless acts that serve only to drive up costs But even RESPA acknowledges that it is legal to be paid for services actually performed up to the value of the services if the services are not referrals (which by definition have no value) And it is legal to refer business to an entity of which you are an owner as long as your compen-sation is based on your profit from the entity and not linked to the referral per se And thereon hangs an interesting tale
Lenders and other settlement service pro-viders long ago discovered that offering a piece of the pie to sources of referrals made good business sense Thus we have seen a proliferation of real estate broker-
Risk ManagementREALTORSreg and RESPAby Blake Hegeman CAE Deputy General Counsel
PeninsulaREALTORreg Jan - Feb 2016page 16
Risk ManagementREALTORSreg and RESPAby Blake Hegeman CAE Deputy General
lender lender-title company broker-settlement agency joint ventures over the years These couplings make great sense and afford the participants incentives to refer business to the joint venture partner This type of relationship does not violate RESPA if the benefit accruing to the referral source is strictly according to ownership interest in the benefited entity and the consumer to whom a referral is made is given the RESPA Miranda warning ndash basically that the person making the referral may benefit from it that the service will cost a certain amount and that the consumer might find the service cheaper elsewhere These relationships are legal and ethical and can be quite beneficial
Now because RESPA permits service pro-viders to pay for service actually performed some have tried ndash with varying degrees of
success ndash to skirt RESPA by paying more than the service is worth or for duplicative efforts or even for only nominal ndash or no -- service These ldquodisguisedrdquo referral fees are illegal and much despised by HUD who seeketh after them like the righteous man seeketh after salvation
That brings us to a more recent phenom-enon the efforts of some mortgage brokers and lenders to avoid the strictures of RESPA by hiring referral sources as employees and paying them for work they do as employees Of course much or all of that work will be for clients referred by the employee but if the employeremployee relationship is bona fide and the salary is for -- and commen-surate with -- services actually performed the relationship can be legal Itrsquos likely that HUD will apply something like the IRS test to determine whether the employee really is an employee and virtually everyone acknowledges that merely giving the ldquoem-ployeerdquo a W-2 and calling her an employee will not be enough
PeninsulaREALTORreg Jan - Feb 2016page 17
Risk ManagementREALTORSreg and RESPAby Blake Hegeman CAE Deputy General
We also need to be aware of another limita-tion imposed by Virginia law even when the labyrinth of RESPA has been negotiated The Virginia Mortgage Lender and Bro-ker Act provides in Section 61-422 that a person may not receive a fee as a mortgage broker and a real estate broker for services performed in the same transaction unless the person was licensed and regularly engaged in mortgage brokerage in Virginia as of Feb-ruary 1989 This resolution of a turf battle between mortgage and real estate brokers was weakened by a provision permitting real estate brokers (but not salespersons) who are owners of a real estate firm to own
an interest in a mortgage lender or broker and to profit from such investment and be compensated for services actually performed for those entities But the prohibition on dual brokerage fees to non-grandfathered persons persists
These are only a few examples from the veritable patchwork quilt of efforts to overcome RESPArsquos prohibition on referral fees Perhaps what Realtors need most to be aware of is that HUD approaches what it sees as RESPA violations with a fervent zeal displayed few other places If you are look-ing for a way to receive a fee for referring settlement business look for another way to make a buck If yoursquore willing to work le-gitimately for a service provider and get paid for the value of what you do -- and no more ndash there are opportunities out there awaiting
NEW Womens Council of REALTORSreg Coastal Chapter at VPAR
PeninsulaREALTORreg Jan - Feb 2016page 18
PeninsulaREALTORreg UPCOMING EVENTSby Jo McNamara Daly Director of education and events
Save The Dates
March 5th - OSC Awards Banquet at City Center
March 22nd - Lunch amp Learn SEO
April 12th - VRLTA Seminar with Chip Dicks
April 19th - General Membership Meeting at VPAR
May 9th - 14th - NAR Legisilative Conference in DC
PeninsulaREALTORreg Jan - Feb 2016page 19
Ready To Get StartedCONTACT ATLANTIC BAY TODAY
For examplehellip A borrower age 72 with a purchase price of $200000 would require ONLY $92000 at closing for the Reverse Mortgage
Homeowner continues to pay insurance and property taxes live in and maintain home Home must be primary residence Program not currently available in all states People portrayed are professional models and are used for illustrative purposes only Terms and conditions subject to change without notice Consult your tax advisor before choosing a reverse mortgage
Clients Mustbull Be 62 or older to qualify (at least one person-can have younger spouse as non-borrower to
qualify)
bull Own your home outright (or have a low mortgage balance that can be paid off at closing with proceeds from the reverse loan or have a large down payment to purchase)
bull Have the financial resources to pay ongoing property charges including taxes and insurance
bull Live in the home
You donrsquot make payments while you live in the house but the loan and interest come due when you sell move out for 12 months or more or last person leaves the house permanently
DAWN ST CLAIR PHILLIPSSr Mortgage BankerNMLS 115936757-715-5733dawnphillipsatlanticbaycomatlanticbaycomdawnphillipscom
Did you knowYOU CAN USE A REVERSE MORTGAGE TO PURCHASE A HOME
ARE YOU CONSIDERING MOVING CLOSER TO YOUR FAMILY OR DOWNSIZING TO A HOME THAT BETTER SUITS YOUR NEEDSOR LOOKING TO STAY IN YOUR HOME AND NEED ADDITIONAL INCOME
PeninsulaREALTORreg Jan - Feb 2016page 20
PeninsulaREALTORreg Jan - Feb 2016page 21
PeninsulaREALTORreg Jan - Feb 2016page 22
The PeninsulaRealEstateSchoolby Jo Mcnamara Daly Director of Education amp Events
2016 Continuing Education Classes Location
VPAR Building 1001 North Campus Parkway
Hampton VA 23666 757-599-5222
Payment MUST be made at time of registration Register online at membersvparorg and click on Member Service Center to login or complete this form and fax to 757-596-3911 or email to jovparorg VPAR reserves the right to cancel a class if less than 10 people are registered 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 12 Tuesday July 12 Tuesday Feb 9 Tuesday Aug 9 Tuesday Mar 8 Tuesday Sept 13 Tuesday Apr 5 Tuesday Oct 11 Tuesday May 10 Tuesday Nov 8 Tuesday June 21 Tuesday Dec 6
All 8 Hour Classes are from 830 ammdash530 pm
Code of Ethics (Meets NAR Quadrennial Requirements) amp Code of Conduct
Fair Housing Legal Updates amp Emerging Trends (Law) Flood Insurance amp Flood Map Instruction Real Estate Contracts Real Estate Agency
8-HR Elective CE Class Dates
Thursday Feb 16 Tuesday Sept 20 Tuesday May 17 Tuesday Nov 15
Anti-Trust Disclosures Professionalism Safety Do-Nots
3-HR Code of Ethics Course
Thursday November 3rd from 1ndash 4 pm Thursday December 8th from 1-4 pm
More dates to be added soon Meets NAR Quadrennial Requirements
Peninsula Real Estate School owned and operated by
Virginia Peninsula Association of REALTORSreg
Registration Form
Name Company Address City State Zip Phone Email License ______ Exp Date _
Method of Payment
Check Invoice Office Visa MasterCard AMX Discover Card Name on Card ____________________________ Credit Card _____ Exp Date Signature _____ Name on Card _________________________ Amount Due (check appropriate box) 8-Hour Course VPAR Member $50 8-Hour Course Non-Member $60 3-Hour Ethics Course VPAR Member $30 3-Hour Ethics Course VPAR Non-Member $35
PeninsulaREALTORreg Jan - Feb 2016page 23
Chip Dicks VAR Legislative
Counsel
The Virginia Peninsula Association of REALTORSreg in cooperation with
The Virginia Association of REALTORSreg presentshellip
VRLTA Update with Chip Dicks
Get the information you need on the updatedVirginia Residential Landlord Tenant Act
Tuesday April 12th 2016 900 am ndash 400 pm
_________________
$12500 per member $13000 per non-member
Virginia Peninsula Association of REALTORSreg 1001 North Campus Parkway Hampton 23666
Sponsor LUNCH INCLUDED
VRLTA Update with Chip Dicks ndash April 12th 2016Pending REB Approval for 3 Hours Legal Update amp 3 Hours Real Estate Related CE
Pending REB Approval for 2 Hours of Current Industry IssuesTrends Course will be submitted for approval at the end of the general assembly session to include anyall changes in the VRLTA
NAME FIRM
ADDRESS
CITY STATE ZIP
PHONE E-MAIL
Method of PaymentCheck ____ Visa MasterCard____ Discover___ AMX____
Credit Card Exp date
Signature(Your signature indicates acceptance of VPAR registration policy and authorization of credit card charges)
Name on credit card_______________________________________
PLEASE RETURN TO VPAR AT FAX NUMBER 757-596-3911 MAIL TO VPAR 1001 North Campus Parkway Hampton VA 23666 or register online at membersvparorg
QUESTIONS CALL 757-599-5222Cancellations must be received within 48 hours of the event to receive full refund On-site registration fee is $135 Please notify us in advance if you have a disability that requires special services
bull Get up to speed on the recent changes to the Virginia Residential Landlord and Tenant Act
bull Designed for both real estate brokers and sales persons this course offers a detailed review of lease applications
bull A ldquohow tordquo guide for broker agent compliance bull The awareness and information you need to protect your
business
Approved for
6 hrs CE and 2 hrs PL Credit
PeninsulaREALTORreg Jan - Feb 2016page 24
REINMLScom ndash A Valuable Member Resource
This year REIN unveiled a new and improved REINMLScom website If you havenrsquot logged in yet please be sure to do so and take advantage of all the site has to offer
If you have never been to REINrsquos member website and are wondering what it offers think of it as a ldquohubrdquo to all things REIN‐related From REINMLScom you can access Fusion and Matrix find market statistics and graphs the current monthrsquos training calendar PDF copies of REINrsquos contracts and forms and much more You can even access your membership account to review and pay invoices online
The new mobile friendly website offers you a fresh look eye‐catching graphics and improved navigation that makes information easy to find Plus two great new featureshellip
A lsquoSYSTEM STATUSrsquo section has been added to the home page of the website to identify when REINrsquos MLS systems and programs are experiencing known issues such as updates service interruptions or down time
The second new feature is lsquoASK REINrsquo ndash a robust technical support module ASK REIN allows you to search online documentation that can help you troubleshoot commonly asked technical questions and if you canrsquot find the answers you are searching for then you can lsquoSubmit a Support Requestrsquo to REINrsquos Tech Support Department directly from the website
To access the full benefits of REINMLScom members must log into the site using their REIN ID and a password If you have not already done so please establish a password for this website by clicking on lsquoChangeForgot Passwordrsquo located next to the green Log In button in the top right corner of the screen Then check your email for a link to reset your password If you still cannot log into the site please contact REINrsquos Tech Support at 7575317901 or supportreininccom
Check it out today wwwREINMLScom
PeninsulaREALTORreg Jan - Feb 2016page 25
Scenes From Our January Social At BJrsquos at Tech Center amp February at UNOrsquos
THANKS TO OUR ALL SPONSORS MARES Exterminating AT BJrsquos andFidelity Bank Mortgage at UnOrsquos
Vpar SOCIAL HAPPENINGS
PeninsulaREALTORreg Jan - Feb 2016page 26
The Virginia Peninsula Association of REALTORSreg presentshellip
The Accredited Buyer Representative Designation
(Approved for 13HRS CE credit)
Instructor Pat Snyder
Accredited Buyer Representative Designation Course ndash April 7 amp 8 2016
NAME FIRM
ADDRESS MEMBER
CITY STATE ZIP
PHONE E-MAIL
Method of Payment Check
Credit Card Exp date
Signature (Your signature indicates acceptance of VPAR registration policy and authorization of credit card charges) Real Estate License Exp date
PLEASE RETURN TO VPAR AT FAX NUMBER 757-596-3911 MAIL TO VPAR 1001 North Campus Parkway Hampton VA 23666 or register online at membersvparorg
QUESTIONS CALL 757-599-5222 Cancellations must be received within 48- business hours of course to receive a refund Registrations are
non-transferable On-site late registration fee is $325 VPAR RESERVES THE RIGHT TO CANCEL THE COURSE IF MINIMUM REGISTRATIONS ARE NOT MET
Please notify us in advance if you have a disability that requires special services
Thursday amp Friday April 7 amp 8 2016 830 am ndash 500 pm
APRIL IS A SPECIAL DISCOUNT MONTH (REGULAR MEMBER RATE IS $295)
VPAR Headquarters Training Room A 1001 North Campus Parkway Hampton VA 23666 Early Bird Pricing before April 1 by NOON
Members $255 Non-Members $275
Register after Members $275 Non-Members $300
On-site registration fee is $325
PeninsulaREALTORreg Jan - Feb 2016page 27
VPAR Peninsula Partners include the following loyal firms who have stepped up to support VPARevents and education throughout the year This program reflects a commitment to provide REALTORreg
members with the best business environment while connecting to industry professionals whoprovide valuable products and services It is designed to create a unique partnership between
sponsors and the Association where both members and sponsors benefit greatly through the abilityto network exchange ideas and conduct business
PeninsulaREALTORreg Jan - Feb 2016page 28
VPAR Members Supporting Our Communities atThe Poquoson Neighborhood Food Distribution
for the Peninsula Food Bank
PeninsulaREALTORreg Jan - Feb 2016page 29
CONTACT A LOCAL LOAN OFFICER AT 1-877-573-2324gt KIMBERLY CRESS EXT 21238gt LASHEKA PEARSON-PARKER EXT 21210gt NATASHA THOMAS EXT 21104
Federally insured by NCUA 100 financing loans include an additional funding fee which may be financed up to the maximum loan amount Product features subject to approval copy 2016 Navy Federal NFCU 13490 (2-16)
THEYrsquoLL ENJOY
gt no application feegt 100 financing optionsgt up to 6 seller contribution allowed
HELP YOUR CLIENTS UNLOCK THE DOOR TO THEIR FIRST HOME
13490_Peninsula_Realtor_Mag_Ad_2_162indd 1 2416 202 PM
PeninsulaREALTORreg Jan - Feb 2016page 30
smile you can have 2-10 Home Buyers Warrantyreg
on your team with our industry leading Home
Warranty Service Agreement
bull Over 55 million homes protected
bull Over 975 of claims paid
bull A Rating with the Better Business Bureau (BBB)
Carolyn Ricketts Account Executive5716068051| cricketts2-10com
Defeated a 500 Increase We helped to defeat a budget amendment that would have increased the deductible that property owners including
YOUR clients pay to have their leaking underground oil tanks cleaned up and repaired by 500 The current $500 deductible was proposed to go up to $2500
The petroleum tank increase was a budget amendment
Prison time 1 to 6 years We added a felony charge to any criminal who lures or entices a REALTORreg to a property with the intent to do harm
The added felony will increase a criminalrsquos sentence by up to 6 years The 1-6 years are the statutory sentencing guidelines
Save $150 - $500hr on attorneysrsquo fees We continued to refine legislation that allows property managers to represent your clients in General District court
without needing an attorney So how much would your attorney charge per hour Typically attorney fees range from $150 - $500hr
$12000 back to consumers Under a new law that VAR drafted we have made it easier for Virginia consumers who have received a court judgment to
collect damages from the Real Estate Transaction Recovery Fund The average claim is approximately $12000 The $12000 figure is an estimate by the DPOR finance staff on the average claim that comes before the Board
Wiped out $200per Sign Fines We worked with a state legislator to prevent a proposal creating daily fines of $200 for any sign in any public right of
way How often do you use such signs for your listings 10 days for 1 sign = $2000 The $200 per sign was the language in the proposed bill VAR was able to stop
Keep RPAC of Virginia working for you Without your support RPAC cannot remain a powerful voice on key legislative issues Your dollars help us make our voice heard
Visit VirginiaRealtorsChoosecom
RPAC of VIRGINIA VICTORIES BY THE NUMBER$
RPAC makes a difference Just look at the numbers
PeninsulaREALTORreg Jan - Feb 2016page 32
January 2016 Virginia residential real estate sales showed typical industry seasonality January tends to be the slowest month for home sales and this year was particularly affected by catastrophic Winter Storm Jonas In spite of blizzard conditions that halted market activity for several days sales volume was nearly on par with the same month last year The value of transactions in January 2016 exceeded $174 billion an out performance of the previous January Median sales price rose 326 percent year-over-year and more than 7 per-cent from January 2014 Year-over-year elevation indicates sustainable market improvement Click here for the complete report httptinyurlcomj7k254s
Full service marketing amp innovative mobile platformsall designed with your business in mind
NMLS 176544 Member FDIC
MonarchWhere homebuying dreams take flight
PeninsulaREALTORreg Jan - Feb 2016page 33
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAIL
Featuring250 characters25 per lineEast WilmingtonRutherford Grand LakesArington Hills CoolidgeElrot Florence GilbertGold Canyon King andQueen Cedar CrestBristol Newport JacksonMadison ElbertvilleBarrowALL ACROSS NORTH AMERICA
THERealEstateBookreg
Volume 00 Issue 00
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAILTo see a sample listing on your smartphone Text T312634 to 85377
Learn more at RealEstateBookMediaKitcomFor FREE MAGAZINES or to ADVERTISE visit our website or call 800-841-3401
Bill McFallMarket Representative
The Market Leader in Hampton Roads VA amp North America
780 Pilot House Drive Building 400B Newport News VA 23606
office 757-873-6731 bull cell 757-286-6731 bull fax 757-273-8275email billmcfallcoxnet
wwwRealEstateBookHRcom
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Interested in advertising your company Click here for our 2016 Adverstising Information
or call us at 757-599-5222 today
PeninsulaREALTORreg Jan - Feb 2016page 34
The PeninsulaPerspective by Jim Wetzel RCE CEO
Nobody will ever deprive the American people of the right to vote except the American people themselves and the only way they could do this is by not voting
Franklin D Roosevelt
This past week I was honored to attend our REALTOR Legislative Meetings in Richmond VA together with our members arriving from all corners of the commonwealth We arrived with a common mission of taking our message to our legislators on the many ways we can improve the real estate industry and homeownership opportunities in our communities
With pride our members spoke of the improvements in the real estate indus-
try over the past year and highlighted our recommendations on how together REALTORS and our legislative partners can make things even better in the years ahead We highlighted important chang-es that we felt would make not only the industry better but the lives of all who call Virginia their home
We spoke together and our legislators listened We made a difference
On March 1st the process of selecting our next President of the United States begins We have listened to the debates been inundated by the media heard from the political commentators and heard the endorsements
Now it is time for us to speak We can make a difference one vote at a time
PeninsulaREALTORreg Jan - Feb 2016page 35
PeninsulaREALTORreg Jan - Feb 2016page 10
The PeninsulaMarket by the Virginia Association of REALTORSreg
January 2016 Homes Sales Report Steady start to the Virginia housing market in new year - Median sales price up more
than 3 percent YOY - January 2016 residential real estate sales top $174 billionAccording to the Virginia Association of REALTORSreg (VAR) January 2016 Home Sales Report residential real estate sales in the first month of the year reflected typical indus-try seasonality Historically January is the slowest month for home sales and this year was particularly affected by a catastrophic winter weather event Despite significant disruption to market activity from Winter Storm Jonas volume declined by less than one percent year-over-year remaining near static with January 2015 Median sales price rose year-over-year contributing to a higher total transaction value than January 2015 The value of transactions in January 2016 exceeded $174 billion an outperformance of the same month last year despite near even sales numbers Median sales price for Janu-ary 2015 rose 326 percent from the same period last year from $237750 to $245500 and more than 7 percent from January 2014 ($228380) Year-over-year elevation indi-cates sustainable market improvement Read the full report here
PeninsulaREALTORreg Jan - Feb 2016page 11
Federal Issues
NAR TESTIFIES ON VETERANSrsquo HOUSING
On Feb 10 NAR 2016 Vice President Sherri Meadows testified before the House Veterans Affairs Subcommittee on Economic Opportunity at a hearing entitled ldquoA Review of VArsquos Loan Guaranty and Specially Adaptive Housing Grant Programs (SAH)rdquo The testimony focused on long-term REALTORreg support for the VA home loan guaranty and the benefits it provides our nationrsquos veterans According to the 2015 NAR Homebuyer and Seller Survey one in five buyers was a veteran or active duty service member NAR recommends all REALTORSreg ask their clients if they have ever served as this program provides zero-downpayment loans and favorable terms to eligible veterans
In the testimony Meadows asked for three enhancements to the program to make it even more useful for veterans 1) increase the loan limits for VA VA is not just another loan program - itrsquos an entitlement Veterans should not be prohibited from using their guaranty in high cost areas 2) ease restrictions on what the veteran can pay in the mortgage transactions Veterans are often disadvantaged when bidding on a home due to their inability to negotiate certain fees and 3) incentivize lenders to offer
an FHA 203k-type product for veterans This type of loan includes the costs of rehabilitation and repairs and could allow veterans better access to homes that need some work
NAR also supported increasing efficiency in the specially-adapted housing (SAH) grant programs and urged the Committee to make the VA loan as useful as possible for all our nationrsquos veterans so it may be a real benefit to those who have so bravely served our country
Watch the video here httpswwwyoutubecomwatchv=VW_srZ1yUcw
HOUSE PASSES VA LOAN BILL
In early February the House of Representatives passed legislation which included a provision to eliminate the cap on VA loan limits The bill HR 3016 ldquoVeterans Employment Education and Healthcare Improvement Actrdquo sponsored by Rep Wenstrup (R-OH) included an amendment added by Rep Zeldin (R-NY) in Committee that would allow veterans to purchase a home in high cost areas by eliminating the maximum loan amount on VA loans As stated in the accompanying report ldquoThe Committee is confident VArsquos current strict underwriting standards and low foreclosure rates will ensure that veterans still have the required good credit and income to qualify for the loan and that this change will not
PeninsulaREALTORreg Jan - Feb 2016page 12
The PeninsulaMonitor continued
PeninsulaREALTORreg Jan - Feb 2016page 13
result in a significant increased amount of foreclosuresrdquo NAR has long supported the VA home loan guaranty program and believes that as an entitlement program our nationrsquos veterans should have the freedom to purchase a home wherever they choose to live
Should you have questions on these or other issues or for additional details please contact Susan Gaston VPARrsquos Legislative Consultant at 757-871-1445 or at susangastongroupcom
PeninsulaREALTORreg Jan - Feb 2016page 14
The PeninsulaMonitor continued
Commuting Costs Important to Home Buyers
Even with plunging gas prices the cost of commuting to and from the office can be pricey (as well as stressful) But how much does that commute play into the homebuying process According to research from the National Association of REALTORSreg commuting costs defi-nitely come into play in searching for and purchasing that dream home in fact 30 percent of homebuyers purchased homes last year to cut down on commut-ing costsmdasha factor they cited as ldquovery importantrdquo Additionally 64 percent of buyers bought their home in part because it was convenient to their job this was so important that 23 percent of those buyers said they compromised on the price of their home to be physi-cally closer to work mak-ing more time for the other important things in their life such as spending time with friends and family
Take a look at NARrsquos 2015 Profile of Home Buyers and Sellers Read more about this topic on NARrsquos Econo-mistsrsquo Outlook blog
The PeninsulaMarket Tips
PeninsulaREALTORreg Jan - Feb 2016page 15
REALTORSreg amp RESPA
Are Realtors Getting Reli-gion
Most Realtors are aware of the anti-kick-back provi-sions of the
Real Estate Settlement Procedures Act ldquoNo man shall giveth Yea neither shall he receiveth any thing of value to God or Mammon pursuant to any covenant under the heavens that calleth for referrals of settlement servicesrdquo Book of RESPA 84
This well-known proverb articulates the received wisdom of Congress that refer-ral fees unnecessarily add to the cost of settlements and thus make housing less affordable for Godrsquos children Not every-one agrees however RESPA expert Phillip Schulman for instance has articulated a three-part test to determine the legality of any particular activity under RESPA First Does the activity make business sense that is does it tend to increase efficiency decrease waste and lower costs Second Does the activity benefit the parties to the transaction (here the brokers borrowers buyers and sellers) And finally Would the activity be permitted in almost any
other arena of commerce as accepted and ethical business practice If the answer to all three questions is yes then the activity says Schulman is almost certainly illegal under RESPA
The essence of Section 8 of RESPA seems to be that while the business expense of a targeted and highly effective referral fee paid by a lender to a referral source must be recovered by the lender in the form of higher loan costs the highly inefficient ad-vertising that replaces the referral source does not You can decide what to make of that argument
However we have to live with the RE-SPA prohibition against paid referrals as valueless acts that serve only to drive up costs But even RESPA acknowledges that it is legal to be paid for services actually performed up to the value of the services if the services are not referrals (which by definition have no value) And it is legal to refer business to an entity of which you are an owner as long as your compen-sation is based on your profit from the entity and not linked to the referral per se And thereon hangs an interesting tale
Lenders and other settlement service pro-viders long ago discovered that offering a piece of the pie to sources of referrals made good business sense Thus we have seen a proliferation of real estate broker-
Risk ManagementREALTORSreg and RESPAby Blake Hegeman CAE Deputy General Counsel
PeninsulaREALTORreg Jan - Feb 2016page 16
Risk ManagementREALTORSreg and RESPAby Blake Hegeman CAE Deputy General
lender lender-title company broker-settlement agency joint ventures over the years These couplings make great sense and afford the participants incentives to refer business to the joint venture partner This type of relationship does not violate RESPA if the benefit accruing to the referral source is strictly according to ownership interest in the benefited entity and the consumer to whom a referral is made is given the RESPA Miranda warning ndash basically that the person making the referral may benefit from it that the service will cost a certain amount and that the consumer might find the service cheaper elsewhere These relationships are legal and ethical and can be quite beneficial
Now because RESPA permits service pro-viders to pay for service actually performed some have tried ndash with varying degrees of
success ndash to skirt RESPA by paying more than the service is worth or for duplicative efforts or even for only nominal ndash or no -- service These ldquodisguisedrdquo referral fees are illegal and much despised by HUD who seeketh after them like the righteous man seeketh after salvation
That brings us to a more recent phenom-enon the efforts of some mortgage brokers and lenders to avoid the strictures of RESPA by hiring referral sources as employees and paying them for work they do as employees Of course much or all of that work will be for clients referred by the employee but if the employeremployee relationship is bona fide and the salary is for -- and commen-surate with -- services actually performed the relationship can be legal Itrsquos likely that HUD will apply something like the IRS test to determine whether the employee really is an employee and virtually everyone acknowledges that merely giving the ldquoem-ployeerdquo a W-2 and calling her an employee will not be enough
PeninsulaREALTORreg Jan - Feb 2016page 17
Risk ManagementREALTORSreg and RESPAby Blake Hegeman CAE Deputy General
We also need to be aware of another limita-tion imposed by Virginia law even when the labyrinth of RESPA has been negotiated The Virginia Mortgage Lender and Bro-ker Act provides in Section 61-422 that a person may not receive a fee as a mortgage broker and a real estate broker for services performed in the same transaction unless the person was licensed and regularly engaged in mortgage brokerage in Virginia as of Feb-ruary 1989 This resolution of a turf battle between mortgage and real estate brokers was weakened by a provision permitting real estate brokers (but not salespersons) who are owners of a real estate firm to own
an interest in a mortgage lender or broker and to profit from such investment and be compensated for services actually performed for those entities But the prohibition on dual brokerage fees to non-grandfathered persons persists
These are only a few examples from the veritable patchwork quilt of efforts to overcome RESPArsquos prohibition on referral fees Perhaps what Realtors need most to be aware of is that HUD approaches what it sees as RESPA violations with a fervent zeal displayed few other places If you are look-ing for a way to receive a fee for referring settlement business look for another way to make a buck If yoursquore willing to work le-gitimately for a service provider and get paid for the value of what you do -- and no more ndash there are opportunities out there awaiting
NEW Womens Council of REALTORSreg Coastal Chapter at VPAR
PeninsulaREALTORreg Jan - Feb 2016page 18
PeninsulaREALTORreg UPCOMING EVENTSby Jo McNamara Daly Director of education and events
Save The Dates
March 5th - OSC Awards Banquet at City Center
March 22nd - Lunch amp Learn SEO
April 12th - VRLTA Seminar with Chip Dicks
April 19th - General Membership Meeting at VPAR
May 9th - 14th - NAR Legisilative Conference in DC
PeninsulaREALTORreg Jan - Feb 2016page 19
Ready To Get StartedCONTACT ATLANTIC BAY TODAY
For examplehellip A borrower age 72 with a purchase price of $200000 would require ONLY $92000 at closing for the Reverse Mortgage
Homeowner continues to pay insurance and property taxes live in and maintain home Home must be primary residence Program not currently available in all states People portrayed are professional models and are used for illustrative purposes only Terms and conditions subject to change without notice Consult your tax advisor before choosing a reverse mortgage
Clients Mustbull Be 62 or older to qualify (at least one person-can have younger spouse as non-borrower to
qualify)
bull Own your home outright (or have a low mortgage balance that can be paid off at closing with proceeds from the reverse loan or have a large down payment to purchase)
bull Have the financial resources to pay ongoing property charges including taxes and insurance
bull Live in the home
You donrsquot make payments while you live in the house but the loan and interest come due when you sell move out for 12 months or more or last person leaves the house permanently
DAWN ST CLAIR PHILLIPSSr Mortgage BankerNMLS 115936757-715-5733dawnphillipsatlanticbaycomatlanticbaycomdawnphillipscom
Did you knowYOU CAN USE A REVERSE MORTGAGE TO PURCHASE A HOME
ARE YOU CONSIDERING MOVING CLOSER TO YOUR FAMILY OR DOWNSIZING TO A HOME THAT BETTER SUITS YOUR NEEDSOR LOOKING TO STAY IN YOUR HOME AND NEED ADDITIONAL INCOME
PeninsulaREALTORreg Jan - Feb 2016page 20
PeninsulaREALTORreg Jan - Feb 2016page 21
PeninsulaREALTORreg Jan - Feb 2016page 22
The PeninsulaRealEstateSchoolby Jo Mcnamara Daly Director of Education amp Events
2016 Continuing Education Classes Location
VPAR Building 1001 North Campus Parkway
Hampton VA 23666 757-599-5222
Payment MUST be made at time of registration Register online at membersvparorg and click on Member Service Center to login or complete this form and fax to 757-596-3911 or email to jovparorg VPAR reserves the right to cancel a class if less than 10 people are registered 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 12 Tuesday July 12 Tuesday Feb 9 Tuesday Aug 9 Tuesday Mar 8 Tuesday Sept 13 Tuesday Apr 5 Tuesday Oct 11 Tuesday May 10 Tuesday Nov 8 Tuesday June 21 Tuesday Dec 6
All 8 Hour Classes are from 830 ammdash530 pm
Code of Ethics (Meets NAR Quadrennial Requirements) amp Code of Conduct
Fair Housing Legal Updates amp Emerging Trends (Law) Flood Insurance amp Flood Map Instruction Real Estate Contracts Real Estate Agency
8-HR Elective CE Class Dates
Thursday Feb 16 Tuesday Sept 20 Tuesday May 17 Tuesday Nov 15
Anti-Trust Disclosures Professionalism Safety Do-Nots
3-HR Code of Ethics Course
Thursday November 3rd from 1ndash 4 pm Thursday December 8th from 1-4 pm
More dates to be added soon Meets NAR Quadrennial Requirements
Peninsula Real Estate School owned and operated by
Virginia Peninsula Association of REALTORSreg
Registration Form
Name Company Address City State Zip Phone Email License ______ Exp Date _
Method of Payment
Check Invoice Office Visa MasterCard AMX Discover Card Name on Card ____________________________ Credit Card _____ Exp Date Signature _____ Name on Card _________________________ Amount Due (check appropriate box) 8-Hour Course VPAR Member $50 8-Hour Course Non-Member $60 3-Hour Ethics Course VPAR Member $30 3-Hour Ethics Course VPAR Non-Member $35
PeninsulaREALTORreg Jan - Feb 2016page 23
Chip Dicks VAR Legislative
Counsel
The Virginia Peninsula Association of REALTORSreg in cooperation with
The Virginia Association of REALTORSreg presentshellip
VRLTA Update with Chip Dicks
Get the information you need on the updatedVirginia Residential Landlord Tenant Act
Tuesday April 12th 2016 900 am ndash 400 pm
_________________
$12500 per member $13000 per non-member
Virginia Peninsula Association of REALTORSreg 1001 North Campus Parkway Hampton 23666
Sponsor LUNCH INCLUDED
VRLTA Update with Chip Dicks ndash April 12th 2016Pending REB Approval for 3 Hours Legal Update amp 3 Hours Real Estate Related CE
Pending REB Approval for 2 Hours of Current Industry IssuesTrends Course will be submitted for approval at the end of the general assembly session to include anyall changes in the VRLTA
NAME FIRM
ADDRESS
CITY STATE ZIP
PHONE E-MAIL
Method of PaymentCheck ____ Visa MasterCard____ Discover___ AMX____
Credit Card Exp date
Signature(Your signature indicates acceptance of VPAR registration policy and authorization of credit card charges)
Name on credit card_______________________________________
PLEASE RETURN TO VPAR AT FAX NUMBER 757-596-3911 MAIL TO VPAR 1001 North Campus Parkway Hampton VA 23666 or register online at membersvparorg
QUESTIONS CALL 757-599-5222Cancellations must be received within 48 hours of the event to receive full refund On-site registration fee is $135 Please notify us in advance if you have a disability that requires special services
bull Get up to speed on the recent changes to the Virginia Residential Landlord and Tenant Act
bull Designed for both real estate brokers and sales persons this course offers a detailed review of lease applications
bull A ldquohow tordquo guide for broker agent compliance bull The awareness and information you need to protect your
business
Approved for
6 hrs CE and 2 hrs PL Credit
PeninsulaREALTORreg Jan - Feb 2016page 24
REINMLScom ndash A Valuable Member Resource
This year REIN unveiled a new and improved REINMLScom website If you havenrsquot logged in yet please be sure to do so and take advantage of all the site has to offer
If you have never been to REINrsquos member website and are wondering what it offers think of it as a ldquohubrdquo to all things REIN‐related From REINMLScom you can access Fusion and Matrix find market statistics and graphs the current monthrsquos training calendar PDF copies of REINrsquos contracts and forms and much more You can even access your membership account to review and pay invoices online
The new mobile friendly website offers you a fresh look eye‐catching graphics and improved navigation that makes information easy to find Plus two great new featureshellip
A lsquoSYSTEM STATUSrsquo section has been added to the home page of the website to identify when REINrsquos MLS systems and programs are experiencing known issues such as updates service interruptions or down time
The second new feature is lsquoASK REINrsquo ndash a robust technical support module ASK REIN allows you to search online documentation that can help you troubleshoot commonly asked technical questions and if you canrsquot find the answers you are searching for then you can lsquoSubmit a Support Requestrsquo to REINrsquos Tech Support Department directly from the website
To access the full benefits of REINMLScom members must log into the site using their REIN ID and a password If you have not already done so please establish a password for this website by clicking on lsquoChangeForgot Passwordrsquo located next to the green Log In button in the top right corner of the screen Then check your email for a link to reset your password If you still cannot log into the site please contact REINrsquos Tech Support at 7575317901 or supportreininccom
Check it out today wwwREINMLScom
PeninsulaREALTORreg Jan - Feb 2016page 25
Scenes From Our January Social At BJrsquos at Tech Center amp February at UNOrsquos
THANKS TO OUR ALL SPONSORS MARES Exterminating AT BJrsquos andFidelity Bank Mortgage at UnOrsquos
Vpar SOCIAL HAPPENINGS
PeninsulaREALTORreg Jan - Feb 2016page 26
The Virginia Peninsula Association of REALTORSreg presentshellip
The Accredited Buyer Representative Designation
(Approved for 13HRS CE credit)
Instructor Pat Snyder
Accredited Buyer Representative Designation Course ndash April 7 amp 8 2016
NAME FIRM
ADDRESS MEMBER
CITY STATE ZIP
PHONE E-MAIL
Method of Payment Check
Credit Card Exp date
Signature (Your signature indicates acceptance of VPAR registration policy and authorization of credit card charges) Real Estate License Exp date
PLEASE RETURN TO VPAR AT FAX NUMBER 757-596-3911 MAIL TO VPAR 1001 North Campus Parkway Hampton VA 23666 or register online at membersvparorg
QUESTIONS CALL 757-599-5222 Cancellations must be received within 48- business hours of course to receive a refund Registrations are
non-transferable On-site late registration fee is $325 VPAR RESERVES THE RIGHT TO CANCEL THE COURSE IF MINIMUM REGISTRATIONS ARE NOT MET
Please notify us in advance if you have a disability that requires special services
Thursday amp Friday April 7 amp 8 2016 830 am ndash 500 pm
APRIL IS A SPECIAL DISCOUNT MONTH (REGULAR MEMBER RATE IS $295)
VPAR Headquarters Training Room A 1001 North Campus Parkway Hampton VA 23666 Early Bird Pricing before April 1 by NOON
Members $255 Non-Members $275
Register after Members $275 Non-Members $300
On-site registration fee is $325
PeninsulaREALTORreg Jan - Feb 2016page 27
VPAR Peninsula Partners include the following loyal firms who have stepped up to support VPARevents and education throughout the year This program reflects a commitment to provide REALTORreg
members with the best business environment while connecting to industry professionals whoprovide valuable products and services It is designed to create a unique partnership between
sponsors and the Association where both members and sponsors benefit greatly through the abilityto network exchange ideas and conduct business
PeninsulaREALTORreg Jan - Feb 2016page 28
VPAR Members Supporting Our Communities atThe Poquoson Neighborhood Food Distribution
for the Peninsula Food Bank
PeninsulaREALTORreg Jan - Feb 2016page 29
CONTACT A LOCAL LOAN OFFICER AT 1-877-573-2324gt KIMBERLY CRESS EXT 21238gt LASHEKA PEARSON-PARKER EXT 21210gt NATASHA THOMAS EXT 21104
Federally insured by NCUA 100 financing loans include an additional funding fee which may be financed up to the maximum loan amount Product features subject to approval copy 2016 Navy Federal NFCU 13490 (2-16)
THEYrsquoLL ENJOY
gt no application feegt 100 financing optionsgt up to 6 seller contribution allowed
HELP YOUR CLIENTS UNLOCK THE DOOR TO THEIR FIRST HOME
13490_Peninsula_Realtor_Mag_Ad_2_162indd 1 2416 202 PM
PeninsulaREALTORreg Jan - Feb 2016page 30
smile you can have 2-10 Home Buyers Warrantyreg
on your team with our industry leading Home
Warranty Service Agreement
bull Over 55 million homes protected
bull Over 975 of claims paid
bull A Rating with the Better Business Bureau (BBB)
Carolyn Ricketts Account Executive5716068051| cricketts2-10com
Defeated a 500 Increase We helped to defeat a budget amendment that would have increased the deductible that property owners including
YOUR clients pay to have their leaking underground oil tanks cleaned up and repaired by 500 The current $500 deductible was proposed to go up to $2500
The petroleum tank increase was a budget amendment
Prison time 1 to 6 years We added a felony charge to any criminal who lures or entices a REALTORreg to a property with the intent to do harm
The added felony will increase a criminalrsquos sentence by up to 6 years The 1-6 years are the statutory sentencing guidelines
Save $150 - $500hr on attorneysrsquo fees We continued to refine legislation that allows property managers to represent your clients in General District court
without needing an attorney So how much would your attorney charge per hour Typically attorney fees range from $150 - $500hr
$12000 back to consumers Under a new law that VAR drafted we have made it easier for Virginia consumers who have received a court judgment to
collect damages from the Real Estate Transaction Recovery Fund The average claim is approximately $12000 The $12000 figure is an estimate by the DPOR finance staff on the average claim that comes before the Board
Wiped out $200per Sign Fines We worked with a state legislator to prevent a proposal creating daily fines of $200 for any sign in any public right of
way How often do you use such signs for your listings 10 days for 1 sign = $2000 The $200 per sign was the language in the proposed bill VAR was able to stop
Keep RPAC of Virginia working for you Without your support RPAC cannot remain a powerful voice on key legislative issues Your dollars help us make our voice heard
Visit VirginiaRealtorsChoosecom
RPAC of VIRGINIA VICTORIES BY THE NUMBER$
RPAC makes a difference Just look at the numbers
PeninsulaREALTORreg Jan - Feb 2016page 32
January 2016 Virginia residential real estate sales showed typical industry seasonality January tends to be the slowest month for home sales and this year was particularly affected by catastrophic Winter Storm Jonas In spite of blizzard conditions that halted market activity for several days sales volume was nearly on par with the same month last year The value of transactions in January 2016 exceeded $174 billion an out performance of the previous January Median sales price rose 326 percent year-over-year and more than 7 per-cent from January 2014 Year-over-year elevation indicates sustainable market improvement Click here for the complete report httptinyurlcomj7k254s
Full service marketing amp innovative mobile platformsall designed with your business in mind
NMLS 176544 Member FDIC
MonarchWhere homebuying dreams take flight
PeninsulaREALTORreg Jan - Feb 2016page 33
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAIL
Featuring250 characters25 per lineEast WilmingtonRutherford Grand LakesArington Hills CoolidgeElrot Florence GilbertGold Canyon King andQueen Cedar CrestBristol Newport JacksonMadison ElbertvilleBarrowALL ACROSS NORTH AMERICA
THERealEstateBookreg
Volume 00 Issue 00
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAILTo see a sample listing on your smartphone Text T312634 to 85377
Learn more at RealEstateBookMediaKitcomFor FREE MAGAZINES or to ADVERTISE visit our website or call 800-841-3401
Bill McFallMarket Representative
The Market Leader in Hampton Roads VA amp North America
780 Pilot House Drive Building 400B Newport News VA 23606
office 757-873-6731 bull cell 757-286-6731 bull fax 757-273-8275email billmcfallcoxnet
wwwRealEstateBookHRcom
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Interested in advertising your company Click here for our 2016 Adverstising Information
or call us at 757-599-5222 today
PeninsulaREALTORreg Jan - Feb 2016page 34
The PeninsulaPerspective by Jim Wetzel RCE CEO
Nobody will ever deprive the American people of the right to vote except the American people themselves and the only way they could do this is by not voting
Franklin D Roosevelt
This past week I was honored to attend our REALTOR Legislative Meetings in Richmond VA together with our members arriving from all corners of the commonwealth We arrived with a common mission of taking our message to our legislators on the many ways we can improve the real estate industry and homeownership opportunities in our communities
With pride our members spoke of the improvements in the real estate indus-
try over the past year and highlighted our recommendations on how together REALTORS and our legislative partners can make things even better in the years ahead We highlighted important chang-es that we felt would make not only the industry better but the lives of all who call Virginia their home
We spoke together and our legislators listened We made a difference
On March 1st the process of selecting our next President of the United States begins We have listened to the debates been inundated by the media heard from the political commentators and heard the endorsements
Now it is time for us to speak We can make a difference one vote at a time
PeninsulaREALTORreg Jan - Feb 2016page 35
PeninsulaREALTORreg Jan - Feb 2016page 11
Federal Issues
NAR TESTIFIES ON VETERANSrsquo HOUSING
On Feb 10 NAR 2016 Vice President Sherri Meadows testified before the House Veterans Affairs Subcommittee on Economic Opportunity at a hearing entitled ldquoA Review of VArsquos Loan Guaranty and Specially Adaptive Housing Grant Programs (SAH)rdquo The testimony focused on long-term REALTORreg support for the VA home loan guaranty and the benefits it provides our nationrsquos veterans According to the 2015 NAR Homebuyer and Seller Survey one in five buyers was a veteran or active duty service member NAR recommends all REALTORSreg ask their clients if they have ever served as this program provides zero-downpayment loans and favorable terms to eligible veterans
In the testimony Meadows asked for three enhancements to the program to make it even more useful for veterans 1) increase the loan limits for VA VA is not just another loan program - itrsquos an entitlement Veterans should not be prohibited from using their guaranty in high cost areas 2) ease restrictions on what the veteran can pay in the mortgage transactions Veterans are often disadvantaged when bidding on a home due to their inability to negotiate certain fees and 3) incentivize lenders to offer
an FHA 203k-type product for veterans This type of loan includes the costs of rehabilitation and repairs and could allow veterans better access to homes that need some work
NAR also supported increasing efficiency in the specially-adapted housing (SAH) grant programs and urged the Committee to make the VA loan as useful as possible for all our nationrsquos veterans so it may be a real benefit to those who have so bravely served our country
Watch the video here httpswwwyoutubecomwatchv=VW_srZ1yUcw
HOUSE PASSES VA LOAN BILL
In early February the House of Representatives passed legislation which included a provision to eliminate the cap on VA loan limits The bill HR 3016 ldquoVeterans Employment Education and Healthcare Improvement Actrdquo sponsored by Rep Wenstrup (R-OH) included an amendment added by Rep Zeldin (R-NY) in Committee that would allow veterans to purchase a home in high cost areas by eliminating the maximum loan amount on VA loans As stated in the accompanying report ldquoThe Committee is confident VArsquos current strict underwriting standards and low foreclosure rates will ensure that veterans still have the required good credit and income to qualify for the loan and that this change will not
PeninsulaREALTORreg Jan - Feb 2016page 12
The PeninsulaMonitor continued
PeninsulaREALTORreg Jan - Feb 2016page 13
result in a significant increased amount of foreclosuresrdquo NAR has long supported the VA home loan guaranty program and believes that as an entitlement program our nationrsquos veterans should have the freedom to purchase a home wherever they choose to live
Should you have questions on these or other issues or for additional details please contact Susan Gaston VPARrsquos Legislative Consultant at 757-871-1445 or at susangastongroupcom
PeninsulaREALTORreg Jan - Feb 2016page 14
The PeninsulaMonitor continued
Commuting Costs Important to Home Buyers
Even with plunging gas prices the cost of commuting to and from the office can be pricey (as well as stressful) But how much does that commute play into the homebuying process According to research from the National Association of REALTORSreg commuting costs defi-nitely come into play in searching for and purchasing that dream home in fact 30 percent of homebuyers purchased homes last year to cut down on commut-ing costsmdasha factor they cited as ldquovery importantrdquo Additionally 64 percent of buyers bought their home in part because it was convenient to their job this was so important that 23 percent of those buyers said they compromised on the price of their home to be physi-cally closer to work mak-ing more time for the other important things in their life such as spending time with friends and family
Take a look at NARrsquos 2015 Profile of Home Buyers and Sellers Read more about this topic on NARrsquos Econo-mistsrsquo Outlook blog
The PeninsulaMarket Tips
PeninsulaREALTORreg Jan - Feb 2016page 15
REALTORSreg amp RESPA
Are Realtors Getting Reli-gion
Most Realtors are aware of the anti-kick-back provi-sions of the
Real Estate Settlement Procedures Act ldquoNo man shall giveth Yea neither shall he receiveth any thing of value to God or Mammon pursuant to any covenant under the heavens that calleth for referrals of settlement servicesrdquo Book of RESPA 84
This well-known proverb articulates the received wisdom of Congress that refer-ral fees unnecessarily add to the cost of settlements and thus make housing less affordable for Godrsquos children Not every-one agrees however RESPA expert Phillip Schulman for instance has articulated a three-part test to determine the legality of any particular activity under RESPA First Does the activity make business sense that is does it tend to increase efficiency decrease waste and lower costs Second Does the activity benefit the parties to the transaction (here the brokers borrowers buyers and sellers) And finally Would the activity be permitted in almost any
other arena of commerce as accepted and ethical business practice If the answer to all three questions is yes then the activity says Schulman is almost certainly illegal under RESPA
The essence of Section 8 of RESPA seems to be that while the business expense of a targeted and highly effective referral fee paid by a lender to a referral source must be recovered by the lender in the form of higher loan costs the highly inefficient ad-vertising that replaces the referral source does not You can decide what to make of that argument
However we have to live with the RE-SPA prohibition against paid referrals as valueless acts that serve only to drive up costs But even RESPA acknowledges that it is legal to be paid for services actually performed up to the value of the services if the services are not referrals (which by definition have no value) And it is legal to refer business to an entity of which you are an owner as long as your compen-sation is based on your profit from the entity and not linked to the referral per se And thereon hangs an interesting tale
Lenders and other settlement service pro-viders long ago discovered that offering a piece of the pie to sources of referrals made good business sense Thus we have seen a proliferation of real estate broker-
Risk ManagementREALTORSreg and RESPAby Blake Hegeman CAE Deputy General Counsel
PeninsulaREALTORreg Jan - Feb 2016page 16
Risk ManagementREALTORSreg and RESPAby Blake Hegeman CAE Deputy General
lender lender-title company broker-settlement agency joint ventures over the years These couplings make great sense and afford the participants incentives to refer business to the joint venture partner This type of relationship does not violate RESPA if the benefit accruing to the referral source is strictly according to ownership interest in the benefited entity and the consumer to whom a referral is made is given the RESPA Miranda warning ndash basically that the person making the referral may benefit from it that the service will cost a certain amount and that the consumer might find the service cheaper elsewhere These relationships are legal and ethical and can be quite beneficial
Now because RESPA permits service pro-viders to pay for service actually performed some have tried ndash with varying degrees of
success ndash to skirt RESPA by paying more than the service is worth or for duplicative efforts or even for only nominal ndash or no -- service These ldquodisguisedrdquo referral fees are illegal and much despised by HUD who seeketh after them like the righteous man seeketh after salvation
That brings us to a more recent phenom-enon the efforts of some mortgage brokers and lenders to avoid the strictures of RESPA by hiring referral sources as employees and paying them for work they do as employees Of course much or all of that work will be for clients referred by the employee but if the employeremployee relationship is bona fide and the salary is for -- and commen-surate with -- services actually performed the relationship can be legal Itrsquos likely that HUD will apply something like the IRS test to determine whether the employee really is an employee and virtually everyone acknowledges that merely giving the ldquoem-ployeerdquo a W-2 and calling her an employee will not be enough
PeninsulaREALTORreg Jan - Feb 2016page 17
Risk ManagementREALTORSreg and RESPAby Blake Hegeman CAE Deputy General
We also need to be aware of another limita-tion imposed by Virginia law even when the labyrinth of RESPA has been negotiated The Virginia Mortgage Lender and Bro-ker Act provides in Section 61-422 that a person may not receive a fee as a mortgage broker and a real estate broker for services performed in the same transaction unless the person was licensed and regularly engaged in mortgage brokerage in Virginia as of Feb-ruary 1989 This resolution of a turf battle between mortgage and real estate brokers was weakened by a provision permitting real estate brokers (but not salespersons) who are owners of a real estate firm to own
an interest in a mortgage lender or broker and to profit from such investment and be compensated for services actually performed for those entities But the prohibition on dual brokerage fees to non-grandfathered persons persists
These are only a few examples from the veritable patchwork quilt of efforts to overcome RESPArsquos prohibition on referral fees Perhaps what Realtors need most to be aware of is that HUD approaches what it sees as RESPA violations with a fervent zeal displayed few other places If you are look-ing for a way to receive a fee for referring settlement business look for another way to make a buck If yoursquore willing to work le-gitimately for a service provider and get paid for the value of what you do -- and no more ndash there are opportunities out there awaiting
NEW Womens Council of REALTORSreg Coastal Chapter at VPAR
PeninsulaREALTORreg Jan - Feb 2016page 18
PeninsulaREALTORreg UPCOMING EVENTSby Jo McNamara Daly Director of education and events
Save The Dates
March 5th - OSC Awards Banquet at City Center
March 22nd - Lunch amp Learn SEO
April 12th - VRLTA Seminar with Chip Dicks
April 19th - General Membership Meeting at VPAR
May 9th - 14th - NAR Legisilative Conference in DC
PeninsulaREALTORreg Jan - Feb 2016page 19
Ready To Get StartedCONTACT ATLANTIC BAY TODAY
For examplehellip A borrower age 72 with a purchase price of $200000 would require ONLY $92000 at closing for the Reverse Mortgage
Homeowner continues to pay insurance and property taxes live in and maintain home Home must be primary residence Program not currently available in all states People portrayed are professional models and are used for illustrative purposes only Terms and conditions subject to change without notice Consult your tax advisor before choosing a reverse mortgage
Clients Mustbull Be 62 or older to qualify (at least one person-can have younger spouse as non-borrower to
qualify)
bull Own your home outright (or have a low mortgage balance that can be paid off at closing with proceeds from the reverse loan or have a large down payment to purchase)
bull Have the financial resources to pay ongoing property charges including taxes and insurance
bull Live in the home
You donrsquot make payments while you live in the house but the loan and interest come due when you sell move out for 12 months or more or last person leaves the house permanently
DAWN ST CLAIR PHILLIPSSr Mortgage BankerNMLS 115936757-715-5733dawnphillipsatlanticbaycomatlanticbaycomdawnphillipscom
Did you knowYOU CAN USE A REVERSE MORTGAGE TO PURCHASE A HOME
ARE YOU CONSIDERING MOVING CLOSER TO YOUR FAMILY OR DOWNSIZING TO A HOME THAT BETTER SUITS YOUR NEEDSOR LOOKING TO STAY IN YOUR HOME AND NEED ADDITIONAL INCOME
PeninsulaREALTORreg Jan - Feb 2016page 20
PeninsulaREALTORreg Jan - Feb 2016page 21
PeninsulaREALTORreg Jan - Feb 2016page 22
The PeninsulaRealEstateSchoolby Jo Mcnamara Daly Director of Education amp Events
2016 Continuing Education Classes Location
VPAR Building 1001 North Campus Parkway
Hampton VA 23666 757-599-5222
Payment MUST be made at time of registration Register online at membersvparorg and click on Member Service Center to login or complete this form and fax to 757-596-3911 or email to jovparorg VPAR reserves the right to cancel a class if less than 10 people are registered 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 12 Tuesday July 12 Tuesday Feb 9 Tuesday Aug 9 Tuesday Mar 8 Tuesday Sept 13 Tuesday Apr 5 Tuesday Oct 11 Tuesday May 10 Tuesday Nov 8 Tuesday June 21 Tuesday Dec 6
All 8 Hour Classes are from 830 ammdash530 pm
Code of Ethics (Meets NAR Quadrennial Requirements) amp Code of Conduct
Fair Housing Legal Updates amp Emerging Trends (Law) Flood Insurance amp Flood Map Instruction Real Estate Contracts Real Estate Agency
8-HR Elective CE Class Dates
Thursday Feb 16 Tuesday Sept 20 Tuesday May 17 Tuesday Nov 15
Anti-Trust Disclosures Professionalism Safety Do-Nots
3-HR Code of Ethics Course
Thursday November 3rd from 1ndash 4 pm Thursday December 8th from 1-4 pm
More dates to be added soon Meets NAR Quadrennial Requirements
Peninsula Real Estate School owned and operated by
Virginia Peninsula Association of REALTORSreg
Registration Form
Name Company Address City State Zip Phone Email License ______ Exp Date _
Method of Payment
Check Invoice Office Visa MasterCard AMX Discover Card Name on Card ____________________________ Credit Card _____ Exp Date Signature _____ Name on Card _________________________ Amount Due (check appropriate box) 8-Hour Course VPAR Member $50 8-Hour Course Non-Member $60 3-Hour Ethics Course VPAR Member $30 3-Hour Ethics Course VPAR Non-Member $35
PeninsulaREALTORreg Jan - Feb 2016page 23
Chip Dicks VAR Legislative
Counsel
The Virginia Peninsula Association of REALTORSreg in cooperation with
The Virginia Association of REALTORSreg presentshellip
VRLTA Update with Chip Dicks
Get the information you need on the updatedVirginia Residential Landlord Tenant Act
Tuesday April 12th 2016 900 am ndash 400 pm
_________________
$12500 per member $13000 per non-member
Virginia Peninsula Association of REALTORSreg 1001 North Campus Parkway Hampton 23666
Sponsor LUNCH INCLUDED
VRLTA Update with Chip Dicks ndash April 12th 2016Pending REB Approval for 3 Hours Legal Update amp 3 Hours Real Estate Related CE
Pending REB Approval for 2 Hours of Current Industry IssuesTrends Course will be submitted for approval at the end of the general assembly session to include anyall changes in the VRLTA
NAME FIRM
ADDRESS
CITY STATE ZIP
PHONE E-MAIL
Method of PaymentCheck ____ Visa MasterCard____ Discover___ AMX____
Credit Card Exp date
Signature(Your signature indicates acceptance of VPAR registration policy and authorization of credit card charges)
Name on credit card_______________________________________
PLEASE RETURN TO VPAR AT FAX NUMBER 757-596-3911 MAIL TO VPAR 1001 North Campus Parkway Hampton VA 23666 or register online at membersvparorg
QUESTIONS CALL 757-599-5222Cancellations must be received within 48 hours of the event to receive full refund On-site registration fee is $135 Please notify us in advance if you have a disability that requires special services
bull Get up to speed on the recent changes to the Virginia Residential Landlord and Tenant Act
bull Designed for both real estate brokers and sales persons this course offers a detailed review of lease applications
bull A ldquohow tordquo guide for broker agent compliance bull The awareness and information you need to protect your
business
Approved for
6 hrs CE and 2 hrs PL Credit
PeninsulaREALTORreg Jan - Feb 2016page 24
REINMLScom ndash A Valuable Member Resource
This year REIN unveiled a new and improved REINMLScom website If you havenrsquot logged in yet please be sure to do so and take advantage of all the site has to offer
If you have never been to REINrsquos member website and are wondering what it offers think of it as a ldquohubrdquo to all things REIN‐related From REINMLScom you can access Fusion and Matrix find market statistics and graphs the current monthrsquos training calendar PDF copies of REINrsquos contracts and forms and much more You can even access your membership account to review and pay invoices online
The new mobile friendly website offers you a fresh look eye‐catching graphics and improved navigation that makes information easy to find Plus two great new featureshellip
A lsquoSYSTEM STATUSrsquo section has been added to the home page of the website to identify when REINrsquos MLS systems and programs are experiencing known issues such as updates service interruptions or down time
The second new feature is lsquoASK REINrsquo ndash a robust technical support module ASK REIN allows you to search online documentation that can help you troubleshoot commonly asked technical questions and if you canrsquot find the answers you are searching for then you can lsquoSubmit a Support Requestrsquo to REINrsquos Tech Support Department directly from the website
To access the full benefits of REINMLScom members must log into the site using their REIN ID and a password If you have not already done so please establish a password for this website by clicking on lsquoChangeForgot Passwordrsquo located next to the green Log In button in the top right corner of the screen Then check your email for a link to reset your password If you still cannot log into the site please contact REINrsquos Tech Support at 7575317901 or supportreininccom
Check it out today wwwREINMLScom
PeninsulaREALTORreg Jan - Feb 2016page 25
Scenes From Our January Social At BJrsquos at Tech Center amp February at UNOrsquos
THANKS TO OUR ALL SPONSORS MARES Exterminating AT BJrsquos andFidelity Bank Mortgage at UnOrsquos
Vpar SOCIAL HAPPENINGS
PeninsulaREALTORreg Jan - Feb 2016page 26
The Virginia Peninsula Association of REALTORSreg presentshellip
The Accredited Buyer Representative Designation
(Approved for 13HRS CE credit)
Instructor Pat Snyder
Accredited Buyer Representative Designation Course ndash April 7 amp 8 2016
NAME FIRM
ADDRESS MEMBER
CITY STATE ZIP
PHONE E-MAIL
Method of Payment Check
Credit Card Exp date
Signature (Your signature indicates acceptance of VPAR registration policy and authorization of credit card charges) Real Estate License Exp date
PLEASE RETURN TO VPAR AT FAX NUMBER 757-596-3911 MAIL TO VPAR 1001 North Campus Parkway Hampton VA 23666 or register online at membersvparorg
QUESTIONS CALL 757-599-5222 Cancellations must be received within 48- business hours of course to receive a refund Registrations are
non-transferable On-site late registration fee is $325 VPAR RESERVES THE RIGHT TO CANCEL THE COURSE IF MINIMUM REGISTRATIONS ARE NOT MET
Please notify us in advance if you have a disability that requires special services
Thursday amp Friday April 7 amp 8 2016 830 am ndash 500 pm
APRIL IS A SPECIAL DISCOUNT MONTH (REGULAR MEMBER RATE IS $295)
VPAR Headquarters Training Room A 1001 North Campus Parkway Hampton VA 23666 Early Bird Pricing before April 1 by NOON
Members $255 Non-Members $275
Register after Members $275 Non-Members $300
On-site registration fee is $325
PeninsulaREALTORreg Jan - Feb 2016page 27
VPAR Peninsula Partners include the following loyal firms who have stepped up to support VPARevents and education throughout the year This program reflects a commitment to provide REALTORreg
members with the best business environment while connecting to industry professionals whoprovide valuable products and services It is designed to create a unique partnership between
sponsors and the Association where both members and sponsors benefit greatly through the abilityto network exchange ideas and conduct business
PeninsulaREALTORreg Jan - Feb 2016page 28
VPAR Members Supporting Our Communities atThe Poquoson Neighborhood Food Distribution
for the Peninsula Food Bank
PeninsulaREALTORreg Jan - Feb 2016page 29
CONTACT A LOCAL LOAN OFFICER AT 1-877-573-2324gt KIMBERLY CRESS EXT 21238gt LASHEKA PEARSON-PARKER EXT 21210gt NATASHA THOMAS EXT 21104
Federally insured by NCUA 100 financing loans include an additional funding fee which may be financed up to the maximum loan amount Product features subject to approval copy 2016 Navy Federal NFCU 13490 (2-16)
THEYrsquoLL ENJOY
gt no application feegt 100 financing optionsgt up to 6 seller contribution allowed
HELP YOUR CLIENTS UNLOCK THE DOOR TO THEIR FIRST HOME
13490_Peninsula_Realtor_Mag_Ad_2_162indd 1 2416 202 PM
PeninsulaREALTORreg Jan - Feb 2016page 30
smile you can have 2-10 Home Buyers Warrantyreg
on your team with our industry leading Home
Warranty Service Agreement
bull Over 55 million homes protected
bull Over 975 of claims paid
bull A Rating with the Better Business Bureau (BBB)
Carolyn Ricketts Account Executive5716068051| cricketts2-10com
Defeated a 500 Increase We helped to defeat a budget amendment that would have increased the deductible that property owners including
YOUR clients pay to have their leaking underground oil tanks cleaned up and repaired by 500 The current $500 deductible was proposed to go up to $2500
The petroleum tank increase was a budget amendment
Prison time 1 to 6 years We added a felony charge to any criminal who lures or entices a REALTORreg to a property with the intent to do harm
The added felony will increase a criminalrsquos sentence by up to 6 years The 1-6 years are the statutory sentencing guidelines
Save $150 - $500hr on attorneysrsquo fees We continued to refine legislation that allows property managers to represent your clients in General District court
without needing an attorney So how much would your attorney charge per hour Typically attorney fees range from $150 - $500hr
$12000 back to consumers Under a new law that VAR drafted we have made it easier for Virginia consumers who have received a court judgment to
collect damages from the Real Estate Transaction Recovery Fund The average claim is approximately $12000 The $12000 figure is an estimate by the DPOR finance staff on the average claim that comes before the Board
Wiped out $200per Sign Fines We worked with a state legislator to prevent a proposal creating daily fines of $200 for any sign in any public right of
way How often do you use such signs for your listings 10 days for 1 sign = $2000 The $200 per sign was the language in the proposed bill VAR was able to stop
Keep RPAC of Virginia working for you Without your support RPAC cannot remain a powerful voice on key legislative issues Your dollars help us make our voice heard
Visit VirginiaRealtorsChoosecom
RPAC of VIRGINIA VICTORIES BY THE NUMBER$
RPAC makes a difference Just look at the numbers
PeninsulaREALTORreg Jan - Feb 2016page 32
January 2016 Virginia residential real estate sales showed typical industry seasonality January tends to be the slowest month for home sales and this year was particularly affected by catastrophic Winter Storm Jonas In spite of blizzard conditions that halted market activity for several days sales volume was nearly on par with the same month last year The value of transactions in January 2016 exceeded $174 billion an out performance of the previous January Median sales price rose 326 percent year-over-year and more than 7 per-cent from January 2014 Year-over-year elevation indicates sustainable market improvement Click here for the complete report httptinyurlcomj7k254s
Full service marketing amp innovative mobile platformsall designed with your business in mind
NMLS 176544 Member FDIC
MonarchWhere homebuying dreams take flight
PeninsulaREALTORreg Jan - Feb 2016page 33
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAIL
Featuring250 characters25 per lineEast WilmingtonRutherford Grand LakesArington Hills CoolidgeElrot Florence GilbertGold Canyon King andQueen Cedar CrestBristol Newport JacksonMadison ElbertvilleBarrowALL ACROSS NORTH AMERICA
THERealEstateBookreg
Volume 00 Issue 00
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAILTo see a sample listing on your smartphone Text T312634 to 85377
Learn more at RealEstateBookMediaKitcomFor FREE MAGAZINES or to ADVERTISE visit our website or call 800-841-3401
Bill McFallMarket Representative
The Market Leader in Hampton Roads VA amp North America
780 Pilot House Drive Building 400B Newport News VA 23606
office 757-873-6731 bull cell 757-286-6731 bull fax 757-273-8275email billmcfallcoxnet
wwwRealEstateBookHRcom
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Interested in advertising your company Click here for our 2016 Adverstising Information
or call us at 757-599-5222 today
PeninsulaREALTORreg Jan - Feb 2016page 34
The PeninsulaPerspective by Jim Wetzel RCE CEO
Nobody will ever deprive the American people of the right to vote except the American people themselves and the only way they could do this is by not voting
Franklin D Roosevelt
This past week I was honored to attend our REALTOR Legislative Meetings in Richmond VA together with our members arriving from all corners of the commonwealth We arrived with a common mission of taking our message to our legislators on the many ways we can improve the real estate industry and homeownership opportunities in our communities
With pride our members spoke of the improvements in the real estate indus-
try over the past year and highlighted our recommendations on how together REALTORS and our legislative partners can make things even better in the years ahead We highlighted important chang-es that we felt would make not only the industry better but the lives of all who call Virginia their home
We spoke together and our legislators listened We made a difference
On March 1st the process of selecting our next President of the United States begins We have listened to the debates been inundated by the media heard from the political commentators and heard the endorsements
Now it is time for us to speak We can make a difference one vote at a time
PeninsulaREALTORreg Jan - Feb 2016page 35
Federal Issues
NAR TESTIFIES ON VETERANSrsquo HOUSING
On Feb 10 NAR 2016 Vice President Sherri Meadows testified before the House Veterans Affairs Subcommittee on Economic Opportunity at a hearing entitled ldquoA Review of VArsquos Loan Guaranty and Specially Adaptive Housing Grant Programs (SAH)rdquo The testimony focused on long-term REALTORreg support for the VA home loan guaranty and the benefits it provides our nationrsquos veterans According to the 2015 NAR Homebuyer and Seller Survey one in five buyers was a veteran or active duty service member NAR recommends all REALTORSreg ask their clients if they have ever served as this program provides zero-downpayment loans and favorable terms to eligible veterans
In the testimony Meadows asked for three enhancements to the program to make it even more useful for veterans 1) increase the loan limits for VA VA is not just another loan program - itrsquos an entitlement Veterans should not be prohibited from using their guaranty in high cost areas 2) ease restrictions on what the veteran can pay in the mortgage transactions Veterans are often disadvantaged when bidding on a home due to their inability to negotiate certain fees and 3) incentivize lenders to offer
an FHA 203k-type product for veterans This type of loan includes the costs of rehabilitation and repairs and could allow veterans better access to homes that need some work
NAR also supported increasing efficiency in the specially-adapted housing (SAH) grant programs and urged the Committee to make the VA loan as useful as possible for all our nationrsquos veterans so it may be a real benefit to those who have so bravely served our country
Watch the video here httpswwwyoutubecomwatchv=VW_srZ1yUcw
HOUSE PASSES VA LOAN BILL
In early February the House of Representatives passed legislation which included a provision to eliminate the cap on VA loan limits The bill HR 3016 ldquoVeterans Employment Education and Healthcare Improvement Actrdquo sponsored by Rep Wenstrup (R-OH) included an amendment added by Rep Zeldin (R-NY) in Committee that would allow veterans to purchase a home in high cost areas by eliminating the maximum loan amount on VA loans As stated in the accompanying report ldquoThe Committee is confident VArsquos current strict underwriting standards and low foreclosure rates will ensure that veterans still have the required good credit and income to qualify for the loan and that this change will not
PeninsulaREALTORreg Jan - Feb 2016page 12
The PeninsulaMonitor continued
PeninsulaREALTORreg Jan - Feb 2016page 13
result in a significant increased amount of foreclosuresrdquo NAR has long supported the VA home loan guaranty program and believes that as an entitlement program our nationrsquos veterans should have the freedom to purchase a home wherever they choose to live
Should you have questions on these or other issues or for additional details please contact Susan Gaston VPARrsquos Legislative Consultant at 757-871-1445 or at susangastongroupcom
PeninsulaREALTORreg Jan - Feb 2016page 14
The PeninsulaMonitor continued
Commuting Costs Important to Home Buyers
Even with plunging gas prices the cost of commuting to and from the office can be pricey (as well as stressful) But how much does that commute play into the homebuying process According to research from the National Association of REALTORSreg commuting costs defi-nitely come into play in searching for and purchasing that dream home in fact 30 percent of homebuyers purchased homes last year to cut down on commut-ing costsmdasha factor they cited as ldquovery importantrdquo Additionally 64 percent of buyers bought their home in part because it was convenient to their job this was so important that 23 percent of those buyers said they compromised on the price of their home to be physi-cally closer to work mak-ing more time for the other important things in their life such as spending time with friends and family
Take a look at NARrsquos 2015 Profile of Home Buyers and Sellers Read more about this topic on NARrsquos Econo-mistsrsquo Outlook blog
The PeninsulaMarket Tips
PeninsulaREALTORreg Jan - Feb 2016page 15
REALTORSreg amp RESPA
Are Realtors Getting Reli-gion
Most Realtors are aware of the anti-kick-back provi-sions of the
Real Estate Settlement Procedures Act ldquoNo man shall giveth Yea neither shall he receiveth any thing of value to God or Mammon pursuant to any covenant under the heavens that calleth for referrals of settlement servicesrdquo Book of RESPA 84
This well-known proverb articulates the received wisdom of Congress that refer-ral fees unnecessarily add to the cost of settlements and thus make housing less affordable for Godrsquos children Not every-one agrees however RESPA expert Phillip Schulman for instance has articulated a three-part test to determine the legality of any particular activity under RESPA First Does the activity make business sense that is does it tend to increase efficiency decrease waste and lower costs Second Does the activity benefit the parties to the transaction (here the brokers borrowers buyers and sellers) And finally Would the activity be permitted in almost any
other arena of commerce as accepted and ethical business practice If the answer to all three questions is yes then the activity says Schulman is almost certainly illegal under RESPA
The essence of Section 8 of RESPA seems to be that while the business expense of a targeted and highly effective referral fee paid by a lender to a referral source must be recovered by the lender in the form of higher loan costs the highly inefficient ad-vertising that replaces the referral source does not You can decide what to make of that argument
However we have to live with the RE-SPA prohibition against paid referrals as valueless acts that serve only to drive up costs But even RESPA acknowledges that it is legal to be paid for services actually performed up to the value of the services if the services are not referrals (which by definition have no value) And it is legal to refer business to an entity of which you are an owner as long as your compen-sation is based on your profit from the entity and not linked to the referral per se And thereon hangs an interesting tale
Lenders and other settlement service pro-viders long ago discovered that offering a piece of the pie to sources of referrals made good business sense Thus we have seen a proliferation of real estate broker-
Risk ManagementREALTORSreg and RESPAby Blake Hegeman CAE Deputy General Counsel
PeninsulaREALTORreg Jan - Feb 2016page 16
Risk ManagementREALTORSreg and RESPAby Blake Hegeman CAE Deputy General
lender lender-title company broker-settlement agency joint ventures over the years These couplings make great sense and afford the participants incentives to refer business to the joint venture partner This type of relationship does not violate RESPA if the benefit accruing to the referral source is strictly according to ownership interest in the benefited entity and the consumer to whom a referral is made is given the RESPA Miranda warning ndash basically that the person making the referral may benefit from it that the service will cost a certain amount and that the consumer might find the service cheaper elsewhere These relationships are legal and ethical and can be quite beneficial
Now because RESPA permits service pro-viders to pay for service actually performed some have tried ndash with varying degrees of
success ndash to skirt RESPA by paying more than the service is worth or for duplicative efforts or even for only nominal ndash or no -- service These ldquodisguisedrdquo referral fees are illegal and much despised by HUD who seeketh after them like the righteous man seeketh after salvation
That brings us to a more recent phenom-enon the efforts of some mortgage brokers and lenders to avoid the strictures of RESPA by hiring referral sources as employees and paying them for work they do as employees Of course much or all of that work will be for clients referred by the employee but if the employeremployee relationship is bona fide and the salary is for -- and commen-surate with -- services actually performed the relationship can be legal Itrsquos likely that HUD will apply something like the IRS test to determine whether the employee really is an employee and virtually everyone acknowledges that merely giving the ldquoem-ployeerdquo a W-2 and calling her an employee will not be enough
PeninsulaREALTORreg Jan - Feb 2016page 17
Risk ManagementREALTORSreg and RESPAby Blake Hegeman CAE Deputy General
We also need to be aware of another limita-tion imposed by Virginia law even when the labyrinth of RESPA has been negotiated The Virginia Mortgage Lender and Bro-ker Act provides in Section 61-422 that a person may not receive a fee as a mortgage broker and a real estate broker for services performed in the same transaction unless the person was licensed and regularly engaged in mortgage brokerage in Virginia as of Feb-ruary 1989 This resolution of a turf battle between mortgage and real estate brokers was weakened by a provision permitting real estate brokers (but not salespersons) who are owners of a real estate firm to own
an interest in a mortgage lender or broker and to profit from such investment and be compensated for services actually performed for those entities But the prohibition on dual brokerage fees to non-grandfathered persons persists
These are only a few examples from the veritable patchwork quilt of efforts to overcome RESPArsquos prohibition on referral fees Perhaps what Realtors need most to be aware of is that HUD approaches what it sees as RESPA violations with a fervent zeal displayed few other places If you are look-ing for a way to receive a fee for referring settlement business look for another way to make a buck If yoursquore willing to work le-gitimately for a service provider and get paid for the value of what you do -- and no more ndash there are opportunities out there awaiting
NEW Womens Council of REALTORSreg Coastal Chapter at VPAR
PeninsulaREALTORreg Jan - Feb 2016page 18
PeninsulaREALTORreg UPCOMING EVENTSby Jo McNamara Daly Director of education and events
Save The Dates
March 5th - OSC Awards Banquet at City Center
March 22nd - Lunch amp Learn SEO
April 12th - VRLTA Seminar with Chip Dicks
April 19th - General Membership Meeting at VPAR
May 9th - 14th - NAR Legisilative Conference in DC
PeninsulaREALTORreg Jan - Feb 2016page 19
Ready To Get StartedCONTACT ATLANTIC BAY TODAY
For examplehellip A borrower age 72 with a purchase price of $200000 would require ONLY $92000 at closing for the Reverse Mortgage
Homeowner continues to pay insurance and property taxes live in and maintain home Home must be primary residence Program not currently available in all states People portrayed are professional models and are used for illustrative purposes only Terms and conditions subject to change without notice Consult your tax advisor before choosing a reverse mortgage
Clients Mustbull Be 62 or older to qualify (at least one person-can have younger spouse as non-borrower to
qualify)
bull Own your home outright (or have a low mortgage balance that can be paid off at closing with proceeds from the reverse loan or have a large down payment to purchase)
bull Have the financial resources to pay ongoing property charges including taxes and insurance
bull Live in the home
You donrsquot make payments while you live in the house but the loan and interest come due when you sell move out for 12 months or more or last person leaves the house permanently
DAWN ST CLAIR PHILLIPSSr Mortgage BankerNMLS 115936757-715-5733dawnphillipsatlanticbaycomatlanticbaycomdawnphillipscom
Did you knowYOU CAN USE A REVERSE MORTGAGE TO PURCHASE A HOME
ARE YOU CONSIDERING MOVING CLOSER TO YOUR FAMILY OR DOWNSIZING TO A HOME THAT BETTER SUITS YOUR NEEDSOR LOOKING TO STAY IN YOUR HOME AND NEED ADDITIONAL INCOME
PeninsulaREALTORreg Jan - Feb 2016page 20
PeninsulaREALTORreg Jan - Feb 2016page 21
PeninsulaREALTORreg Jan - Feb 2016page 22
The PeninsulaRealEstateSchoolby Jo Mcnamara Daly Director of Education amp Events
2016 Continuing Education Classes Location
VPAR Building 1001 North Campus Parkway
Hampton VA 23666 757-599-5222
Payment MUST be made at time of registration Register online at membersvparorg and click on Member Service Center to login or complete this form and fax to 757-596-3911 or email to jovparorg VPAR reserves the right to cancel a class if less than 10 people are registered 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 12 Tuesday July 12 Tuesday Feb 9 Tuesday Aug 9 Tuesday Mar 8 Tuesday Sept 13 Tuesday Apr 5 Tuesday Oct 11 Tuesday May 10 Tuesday Nov 8 Tuesday June 21 Tuesday Dec 6
All 8 Hour Classes are from 830 ammdash530 pm
Code of Ethics (Meets NAR Quadrennial Requirements) amp Code of Conduct
Fair Housing Legal Updates amp Emerging Trends (Law) Flood Insurance amp Flood Map Instruction Real Estate Contracts Real Estate Agency
8-HR Elective CE Class Dates
Thursday Feb 16 Tuesday Sept 20 Tuesday May 17 Tuesday Nov 15
Anti-Trust Disclosures Professionalism Safety Do-Nots
3-HR Code of Ethics Course
Thursday November 3rd from 1ndash 4 pm Thursday December 8th from 1-4 pm
More dates to be added soon Meets NAR Quadrennial Requirements
Peninsula Real Estate School owned and operated by
Virginia Peninsula Association of REALTORSreg
Registration Form
Name Company Address City State Zip Phone Email License ______ Exp Date _
Method of Payment
Check Invoice Office Visa MasterCard AMX Discover Card Name on Card ____________________________ Credit Card _____ Exp Date Signature _____ Name on Card _________________________ Amount Due (check appropriate box) 8-Hour Course VPAR Member $50 8-Hour Course Non-Member $60 3-Hour Ethics Course VPAR Member $30 3-Hour Ethics Course VPAR Non-Member $35
PeninsulaREALTORreg Jan - Feb 2016page 23
Chip Dicks VAR Legislative
Counsel
The Virginia Peninsula Association of REALTORSreg in cooperation with
The Virginia Association of REALTORSreg presentshellip
VRLTA Update with Chip Dicks
Get the information you need on the updatedVirginia Residential Landlord Tenant Act
Tuesday April 12th 2016 900 am ndash 400 pm
_________________
$12500 per member $13000 per non-member
Virginia Peninsula Association of REALTORSreg 1001 North Campus Parkway Hampton 23666
Sponsor LUNCH INCLUDED
VRLTA Update with Chip Dicks ndash April 12th 2016Pending REB Approval for 3 Hours Legal Update amp 3 Hours Real Estate Related CE
Pending REB Approval for 2 Hours of Current Industry IssuesTrends Course will be submitted for approval at the end of the general assembly session to include anyall changes in the VRLTA
NAME FIRM
ADDRESS
CITY STATE ZIP
PHONE E-MAIL
Method of PaymentCheck ____ Visa MasterCard____ Discover___ AMX____
Credit Card Exp date
Signature(Your signature indicates acceptance of VPAR registration policy and authorization of credit card charges)
Name on credit card_______________________________________
PLEASE RETURN TO VPAR AT FAX NUMBER 757-596-3911 MAIL TO VPAR 1001 North Campus Parkway Hampton VA 23666 or register online at membersvparorg
QUESTIONS CALL 757-599-5222Cancellations must be received within 48 hours of the event to receive full refund On-site registration fee is $135 Please notify us in advance if you have a disability that requires special services
bull Get up to speed on the recent changes to the Virginia Residential Landlord and Tenant Act
bull Designed for both real estate brokers and sales persons this course offers a detailed review of lease applications
bull A ldquohow tordquo guide for broker agent compliance bull The awareness and information you need to protect your
business
Approved for
6 hrs CE and 2 hrs PL Credit
PeninsulaREALTORreg Jan - Feb 2016page 24
REINMLScom ndash A Valuable Member Resource
This year REIN unveiled a new and improved REINMLScom website If you havenrsquot logged in yet please be sure to do so and take advantage of all the site has to offer
If you have never been to REINrsquos member website and are wondering what it offers think of it as a ldquohubrdquo to all things REIN‐related From REINMLScom you can access Fusion and Matrix find market statistics and graphs the current monthrsquos training calendar PDF copies of REINrsquos contracts and forms and much more You can even access your membership account to review and pay invoices online
The new mobile friendly website offers you a fresh look eye‐catching graphics and improved navigation that makes information easy to find Plus two great new featureshellip
A lsquoSYSTEM STATUSrsquo section has been added to the home page of the website to identify when REINrsquos MLS systems and programs are experiencing known issues such as updates service interruptions or down time
The second new feature is lsquoASK REINrsquo ndash a robust technical support module ASK REIN allows you to search online documentation that can help you troubleshoot commonly asked technical questions and if you canrsquot find the answers you are searching for then you can lsquoSubmit a Support Requestrsquo to REINrsquos Tech Support Department directly from the website
To access the full benefits of REINMLScom members must log into the site using their REIN ID and a password If you have not already done so please establish a password for this website by clicking on lsquoChangeForgot Passwordrsquo located next to the green Log In button in the top right corner of the screen Then check your email for a link to reset your password If you still cannot log into the site please contact REINrsquos Tech Support at 7575317901 or supportreininccom
Check it out today wwwREINMLScom
PeninsulaREALTORreg Jan - Feb 2016page 25
Scenes From Our January Social At BJrsquos at Tech Center amp February at UNOrsquos
THANKS TO OUR ALL SPONSORS MARES Exterminating AT BJrsquos andFidelity Bank Mortgage at UnOrsquos
Vpar SOCIAL HAPPENINGS
PeninsulaREALTORreg Jan - Feb 2016page 26
The Virginia Peninsula Association of REALTORSreg presentshellip
The Accredited Buyer Representative Designation
(Approved for 13HRS CE credit)
Instructor Pat Snyder
Accredited Buyer Representative Designation Course ndash April 7 amp 8 2016
NAME FIRM
ADDRESS MEMBER
CITY STATE ZIP
PHONE E-MAIL
Method of Payment Check
Credit Card Exp date
Signature (Your signature indicates acceptance of VPAR registration policy and authorization of credit card charges) Real Estate License Exp date
PLEASE RETURN TO VPAR AT FAX NUMBER 757-596-3911 MAIL TO VPAR 1001 North Campus Parkway Hampton VA 23666 or register online at membersvparorg
QUESTIONS CALL 757-599-5222 Cancellations must be received within 48- business hours of course to receive a refund Registrations are
non-transferable On-site late registration fee is $325 VPAR RESERVES THE RIGHT TO CANCEL THE COURSE IF MINIMUM REGISTRATIONS ARE NOT MET
Please notify us in advance if you have a disability that requires special services
Thursday amp Friday April 7 amp 8 2016 830 am ndash 500 pm
APRIL IS A SPECIAL DISCOUNT MONTH (REGULAR MEMBER RATE IS $295)
VPAR Headquarters Training Room A 1001 North Campus Parkway Hampton VA 23666 Early Bird Pricing before April 1 by NOON
Members $255 Non-Members $275
Register after Members $275 Non-Members $300
On-site registration fee is $325
PeninsulaREALTORreg Jan - Feb 2016page 27
VPAR Peninsula Partners include the following loyal firms who have stepped up to support VPARevents and education throughout the year This program reflects a commitment to provide REALTORreg
members with the best business environment while connecting to industry professionals whoprovide valuable products and services It is designed to create a unique partnership between
sponsors and the Association where both members and sponsors benefit greatly through the abilityto network exchange ideas and conduct business
PeninsulaREALTORreg Jan - Feb 2016page 28
VPAR Members Supporting Our Communities atThe Poquoson Neighborhood Food Distribution
for the Peninsula Food Bank
PeninsulaREALTORreg Jan - Feb 2016page 29
CONTACT A LOCAL LOAN OFFICER AT 1-877-573-2324gt KIMBERLY CRESS EXT 21238gt LASHEKA PEARSON-PARKER EXT 21210gt NATASHA THOMAS EXT 21104
Federally insured by NCUA 100 financing loans include an additional funding fee which may be financed up to the maximum loan amount Product features subject to approval copy 2016 Navy Federal NFCU 13490 (2-16)
THEYrsquoLL ENJOY
gt no application feegt 100 financing optionsgt up to 6 seller contribution allowed
HELP YOUR CLIENTS UNLOCK THE DOOR TO THEIR FIRST HOME
13490_Peninsula_Realtor_Mag_Ad_2_162indd 1 2416 202 PM
PeninsulaREALTORreg Jan - Feb 2016page 30
smile you can have 2-10 Home Buyers Warrantyreg
on your team with our industry leading Home
Warranty Service Agreement
bull Over 55 million homes protected
bull Over 975 of claims paid
bull A Rating with the Better Business Bureau (BBB)
Carolyn Ricketts Account Executive5716068051| cricketts2-10com
Defeated a 500 Increase We helped to defeat a budget amendment that would have increased the deductible that property owners including
YOUR clients pay to have their leaking underground oil tanks cleaned up and repaired by 500 The current $500 deductible was proposed to go up to $2500
The petroleum tank increase was a budget amendment
Prison time 1 to 6 years We added a felony charge to any criminal who lures or entices a REALTORreg to a property with the intent to do harm
The added felony will increase a criminalrsquos sentence by up to 6 years The 1-6 years are the statutory sentencing guidelines
Save $150 - $500hr on attorneysrsquo fees We continued to refine legislation that allows property managers to represent your clients in General District court
without needing an attorney So how much would your attorney charge per hour Typically attorney fees range from $150 - $500hr
$12000 back to consumers Under a new law that VAR drafted we have made it easier for Virginia consumers who have received a court judgment to
collect damages from the Real Estate Transaction Recovery Fund The average claim is approximately $12000 The $12000 figure is an estimate by the DPOR finance staff on the average claim that comes before the Board
Wiped out $200per Sign Fines We worked with a state legislator to prevent a proposal creating daily fines of $200 for any sign in any public right of
way How often do you use such signs for your listings 10 days for 1 sign = $2000 The $200 per sign was the language in the proposed bill VAR was able to stop
Keep RPAC of Virginia working for you Without your support RPAC cannot remain a powerful voice on key legislative issues Your dollars help us make our voice heard
Visit VirginiaRealtorsChoosecom
RPAC of VIRGINIA VICTORIES BY THE NUMBER$
RPAC makes a difference Just look at the numbers
PeninsulaREALTORreg Jan - Feb 2016page 32
January 2016 Virginia residential real estate sales showed typical industry seasonality January tends to be the slowest month for home sales and this year was particularly affected by catastrophic Winter Storm Jonas In spite of blizzard conditions that halted market activity for several days sales volume was nearly on par with the same month last year The value of transactions in January 2016 exceeded $174 billion an out performance of the previous January Median sales price rose 326 percent year-over-year and more than 7 per-cent from January 2014 Year-over-year elevation indicates sustainable market improvement Click here for the complete report httptinyurlcomj7k254s
Full service marketing amp innovative mobile platformsall designed with your business in mind
NMLS 176544 Member FDIC
MonarchWhere homebuying dreams take flight
PeninsulaREALTORreg Jan - Feb 2016page 33
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAIL
Featuring250 characters25 per lineEast WilmingtonRutherford Grand LakesArington Hills CoolidgeElrot Florence GilbertGold Canyon King andQueen Cedar CrestBristol Newport JacksonMadison ElbertvilleBarrowALL ACROSS NORTH AMERICA
THERealEstateBookreg
Volume 00 Issue 00
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAILTo see a sample listing on your smartphone Text T312634 to 85377
Learn more at RealEstateBookMediaKitcomFor FREE MAGAZINES or to ADVERTISE visit our website or call 800-841-3401
Bill McFallMarket Representative
The Market Leader in Hampton Roads VA amp North America
780 Pilot House Drive Building 400B Newport News VA 23606
office 757-873-6731 bull cell 757-286-6731 bull fax 757-273-8275email billmcfallcoxnet
wwwRealEstateBookHRcom
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Interested in advertising your company Click here for our 2016 Adverstising Information
or call us at 757-599-5222 today
PeninsulaREALTORreg Jan - Feb 2016page 34
The PeninsulaPerspective by Jim Wetzel RCE CEO
Nobody will ever deprive the American people of the right to vote except the American people themselves and the only way they could do this is by not voting
Franklin D Roosevelt
This past week I was honored to attend our REALTOR Legislative Meetings in Richmond VA together with our members arriving from all corners of the commonwealth We arrived with a common mission of taking our message to our legislators on the many ways we can improve the real estate industry and homeownership opportunities in our communities
With pride our members spoke of the improvements in the real estate indus-
try over the past year and highlighted our recommendations on how together REALTORS and our legislative partners can make things even better in the years ahead We highlighted important chang-es that we felt would make not only the industry better but the lives of all who call Virginia their home
We spoke together and our legislators listened We made a difference
On March 1st the process of selecting our next President of the United States begins We have listened to the debates been inundated by the media heard from the political commentators and heard the endorsements
Now it is time for us to speak We can make a difference one vote at a time
PeninsulaREALTORreg Jan - Feb 2016page 35
PeninsulaREALTORreg Jan - Feb 2016page 13
result in a significant increased amount of foreclosuresrdquo NAR has long supported the VA home loan guaranty program and believes that as an entitlement program our nationrsquos veterans should have the freedom to purchase a home wherever they choose to live
Should you have questions on these or other issues or for additional details please contact Susan Gaston VPARrsquos Legislative Consultant at 757-871-1445 or at susangastongroupcom
PeninsulaREALTORreg Jan - Feb 2016page 14
The PeninsulaMonitor continued
Commuting Costs Important to Home Buyers
Even with plunging gas prices the cost of commuting to and from the office can be pricey (as well as stressful) But how much does that commute play into the homebuying process According to research from the National Association of REALTORSreg commuting costs defi-nitely come into play in searching for and purchasing that dream home in fact 30 percent of homebuyers purchased homes last year to cut down on commut-ing costsmdasha factor they cited as ldquovery importantrdquo Additionally 64 percent of buyers bought their home in part because it was convenient to their job this was so important that 23 percent of those buyers said they compromised on the price of their home to be physi-cally closer to work mak-ing more time for the other important things in their life such as spending time with friends and family
Take a look at NARrsquos 2015 Profile of Home Buyers and Sellers Read more about this topic on NARrsquos Econo-mistsrsquo Outlook blog
The PeninsulaMarket Tips
PeninsulaREALTORreg Jan - Feb 2016page 15
REALTORSreg amp RESPA
Are Realtors Getting Reli-gion
Most Realtors are aware of the anti-kick-back provi-sions of the
Real Estate Settlement Procedures Act ldquoNo man shall giveth Yea neither shall he receiveth any thing of value to God or Mammon pursuant to any covenant under the heavens that calleth for referrals of settlement servicesrdquo Book of RESPA 84
This well-known proverb articulates the received wisdom of Congress that refer-ral fees unnecessarily add to the cost of settlements and thus make housing less affordable for Godrsquos children Not every-one agrees however RESPA expert Phillip Schulman for instance has articulated a three-part test to determine the legality of any particular activity under RESPA First Does the activity make business sense that is does it tend to increase efficiency decrease waste and lower costs Second Does the activity benefit the parties to the transaction (here the brokers borrowers buyers and sellers) And finally Would the activity be permitted in almost any
other arena of commerce as accepted and ethical business practice If the answer to all three questions is yes then the activity says Schulman is almost certainly illegal under RESPA
The essence of Section 8 of RESPA seems to be that while the business expense of a targeted and highly effective referral fee paid by a lender to a referral source must be recovered by the lender in the form of higher loan costs the highly inefficient ad-vertising that replaces the referral source does not You can decide what to make of that argument
However we have to live with the RE-SPA prohibition against paid referrals as valueless acts that serve only to drive up costs But even RESPA acknowledges that it is legal to be paid for services actually performed up to the value of the services if the services are not referrals (which by definition have no value) And it is legal to refer business to an entity of which you are an owner as long as your compen-sation is based on your profit from the entity and not linked to the referral per se And thereon hangs an interesting tale
Lenders and other settlement service pro-viders long ago discovered that offering a piece of the pie to sources of referrals made good business sense Thus we have seen a proliferation of real estate broker-
Risk ManagementREALTORSreg and RESPAby Blake Hegeman CAE Deputy General Counsel
PeninsulaREALTORreg Jan - Feb 2016page 16
Risk ManagementREALTORSreg and RESPAby Blake Hegeman CAE Deputy General
lender lender-title company broker-settlement agency joint ventures over the years These couplings make great sense and afford the participants incentives to refer business to the joint venture partner This type of relationship does not violate RESPA if the benefit accruing to the referral source is strictly according to ownership interest in the benefited entity and the consumer to whom a referral is made is given the RESPA Miranda warning ndash basically that the person making the referral may benefit from it that the service will cost a certain amount and that the consumer might find the service cheaper elsewhere These relationships are legal and ethical and can be quite beneficial
Now because RESPA permits service pro-viders to pay for service actually performed some have tried ndash with varying degrees of
success ndash to skirt RESPA by paying more than the service is worth or for duplicative efforts or even for only nominal ndash or no -- service These ldquodisguisedrdquo referral fees are illegal and much despised by HUD who seeketh after them like the righteous man seeketh after salvation
That brings us to a more recent phenom-enon the efforts of some mortgage brokers and lenders to avoid the strictures of RESPA by hiring referral sources as employees and paying them for work they do as employees Of course much or all of that work will be for clients referred by the employee but if the employeremployee relationship is bona fide and the salary is for -- and commen-surate with -- services actually performed the relationship can be legal Itrsquos likely that HUD will apply something like the IRS test to determine whether the employee really is an employee and virtually everyone acknowledges that merely giving the ldquoem-ployeerdquo a W-2 and calling her an employee will not be enough
PeninsulaREALTORreg Jan - Feb 2016page 17
Risk ManagementREALTORSreg and RESPAby Blake Hegeman CAE Deputy General
We also need to be aware of another limita-tion imposed by Virginia law even when the labyrinth of RESPA has been negotiated The Virginia Mortgage Lender and Bro-ker Act provides in Section 61-422 that a person may not receive a fee as a mortgage broker and a real estate broker for services performed in the same transaction unless the person was licensed and regularly engaged in mortgage brokerage in Virginia as of Feb-ruary 1989 This resolution of a turf battle between mortgage and real estate brokers was weakened by a provision permitting real estate brokers (but not salespersons) who are owners of a real estate firm to own
an interest in a mortgage lender or broker and to profit from such investment and be compensated for services actually performed for those entities But the prohibition on dual brokerage fees to non-grandfathered persons persists
These are only a few examples from the veritable patchwork quilt of efforts to overcome RESPArsquos prohibition on referral fees Perhaps what Realtors need most to be aware of is that HUD approaches what it sees as RESPA violations with a fervent zeal displayed few other places If you are look-ing for a way to receive a fee for referring settlement business look for another way to make a buck If yoursquore willing to work le-gitimately for a service provider and get paid for the value of what you do -- and no more ndash there are opportunities out there awaiting
NEW Womens Council of REALTORSreg Coastal Chapter at VPAR
PeninsulaREALTORreg Jan - Feb 2016page 18
PeninsulaREALTORreg UPCOMING EVENTSby Jo McNamara Daly Director of education and events
Save The Dates
March 5th - OSC Awards Banquet at City Center
March 22nd - Lunch amp Learn SEO
April 12th - VRLTA Seminar with Chip Dicks
April 19th - General Membership Meeting at VPAR
May 9th - 14th - NAR Legisilative Conference in DC
PeninsulaREALTORreg Jan - Feb 2016page 19
Ready To Get StartedCONTACT ATLANTIC BAY TODAY
For examplehellip A borrower age 72 with a purchase price of $200000 would require ONLY $92000 at closing for the Reverse Mortgage
Homeowner continues to pay insurance and property taxes live in and maintain home Home must be primary residence Program not currently available in all states People portrayed are professional models and are used for illustrative purposes only Terms and conditions subject to change without notice Consult your tax advisor before choosing a reverse mortgage
Clients Mustbull Be 62 or older to qualify (at least one person-can have younger spouse as non-borrower to
qualify)
bull Own your home outright (or have a low mortgage balance that can be paid off at closing with proceeds from the reverse loan or have a large down payment to purchase)
bull Have the financial resources to pay ongoing property charges including taxes and insurance
bull Live in the home
You donrsquot make payments while you live in the house but the loan and interest come due when you sell move out for 12 months or more or last person leaves the house permanently
DAWN ST CLAIR PHILLIPSSr Mortgage BankerNMLS 115936757-715-5733dawnphillipsatlanticbaycomatlanticbaycomdawnphillipscom
Did you knowYOU CAN USE A REVERSE MORTGAGE TO PURCHASE A HOME
ARE YOU CONSIDERING MOVING CLOSER TO YOUR FAMILY OR DOWNSIZING TO A HOME THAT BETTER SUITS YOUR NEEDSOR LOOKING TO STAY IN YOUR HOME AND NEED ADDITIONAL INCOME
PeninsulaREALTORreg Jan - Feb 2016page 20
PeninsulaREALTORreg Jan - Feb 2016page 21
PeninsulaREALTORreg Jan - Feb 2016page 22
The PeninsulaRealEstateSchoolby Jo Mcnamara Daly Director of Education amp Events
2016 Continuing Education Classes Location
VPAR Building 1001 North Campus Parkway
Hampton VA 23666 757-599-5222
Payment MUST be made at time of registration Register online at membersvparorg and click on Member Service Center to login or complete this form and fax to 757-596-3911 or email to jovparorg VPAR reserves the right to cancel a class if less than 10 people are registered 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 12 Tuesday July 12 Tuesday Feb 9 Tuesday Aug 9 Tuesday Mar 8 Tuesday Sept 13 Tuesday Apr 5 Tuesday Oct 11 Tuesday May 10 Tuesday Nov 8 Tuesday June 21 Tuesday Dec 6
All 8 Hour Classes are from 830 ammdash530 pm
Code of Ethics (Meets NAR Quadrennial Requirements) amp Code of Conduct
Fair Housing Legal Updates amp Emerging Trends (Law) Flood Insurance amp Flood Map Instruction Real Estate Contracts Real Estate Agency
8-HR Elective CE Class Dates
Thursday Feb 16 Tuesday Sept 20 Tuesday May 17 Tuesday Nov 15
Anti-Trust Disclosures Professionalism Safety Do-Nots
3-HR Code of Ethics Course
Thursday November 3rd from 1ndash 4 pm Thursday December 8th from 1-4 pm
More dates to be added soon Meets NAR Quadrennial Requirements
Peninsula Real Estate School owned and operated by
Virginia Peninsula Association of REALTORSreg
Registration Form
Name Company Address City State Zip Phone Email License ______ Exp Date _
Method of Payment
Check Invoice Office Visa MasterCard AMX Discover Card Name on Card ____________________________ Credit Card _____ Exp Date Signature _____ Name on Card _________________________ Amount Due (check appropriate box) 8-Hour Course VPAR Member $50 8-Hour Course Non-Member $60 3-Hour Ethics Course VPAR Member $30 3-Hour Ethics Course VPAR Non-Member $35
PeninsulaREALTORreg Jan - Feb 2016page 23
Chip Dicks VAR Legislative
Counsel
The Virginia Peninsula Association of REALTORSreg in cooperation with
The Virginia Association of REALTORSreg presentshellip
VRLTA Update with Chip Dicks
Get the information you need on the updatedVirginia Residential Landlord Tenant Act
Tuesday April 12th 2016 900 am ndash 400 pm
_________________
$12500 per member $13000 per non-member
Virginia Peninsula Association of REALTORSreg 1001 North Campus Parkway Hampton 23666
Sponsor LUNCH INCLUDED
VRLTA Update with Chip Dicks ndash April 12th 2016Pending REB Approval for 3 Hours Legal Update amp 3 Hours Real Estate Related CE
Pending REB Approval for 2 Hours of Current Industry IssuesTrends Course will be submitted for approval at the end of the general assembly session to include anyall changes in the VRLTA
NAME FIRM
ADDRESS
CITY STATE ZIP
PHONE E-MAIL
Method of PaymentCheck ____ Visa MasterCard____ Discover___ AMX____
Credit Card Exp date
Signature(Your signature indicates acceptance of VPAR registration policy and authorization of credit card charges)
Name on credit card_______________________________________
PLEASE RETURN TO VPAR AT FAX NUMBER 757-596-3911 MAIL TO VPAR 1001 North Campus Parkway Hampton VA 23666 or register online at membersvparorg
QUESTIONS CALL 757-599-5222Cancellations must be received within 48 hours of the event to receive full refund On-site registration fee is $135 Please notify us in advance if you have a disability that requires special services
bull Get up to speed on the recent changes to the Virginia Residential Landlord and Tenant Act
bull Designed for both real estate brokers and sales persons this course offers a detailed review of lease applications
bull A ldquohow tordquo guide for broker agent compliance bull The awareness and information you need to protect your
business
Approved for
6 hrs CE and 2 hrs PL Credit
PeninsulaREALTORreg Jan - Feb 2016page 24
REINMLScom ndash A Valuable Member Resource
This year REIN unveiled a new and improved REINMLScom website If you havenrsquot logged in yet please be sure to do so and take advantage of all the site has to offer
If you have never been to REINrsquos member website and are wondering what it offers think of it as a ldquohubrdquo to all things REIN‐related From REINMLScom you can access Fusion and Matrix find market statistics and graphs the current monthrsquos training calendar PDF copies of REINrsquos contracts and forms and much more You can even access your membership account to review and pay invoices online
The new mobile friendly website offers you a fresh look eye‐catching graphics and improved navigation that makes information easy to find Plus two great new featureshellip
A lsquoSYSTEM STATUSrsquo section has been added to the home page of the website to identify when REINrsquos MLS systems and programs are experiencing known issues such as updates service interruptions or down time
The second new feature is lsquoASK REINrsquo ndash a robust technical support module ASK REIN allows you to search online documentation that can help you troubleshoot commonly asked technical questions and if you canrsquot find the answers you are searching for then you can lsquoSubmit a Support Requestrsquo to REINrsquos Tech Support Department directly from the website
To access the full benefits of REINMLScom members must log into the site using their REIN ID and a password If you have not already done so please establish a password for this website by clicking on lsquoChangeForgot Passwordrsquo located next to the green Log In button in the top right corner of the screen Then check your email for a link to reset your password If you still cannot log into the site please contact REINrsquos Tech Support at 7575317901 or supportreininccom
Check it out today wwwREINMLScom
PeninsulaREALTORreg Jan - Feb 2016page 25
Scenes From Our January Social At BJrsquos at Tech Center amp February at UNOrsquos
THANKS TO OUR ALL SPONSORS MARES Exterminating AT BJrsquos andFidelity Bank Mortgage at UnOrsquos
Vpar SOCIAL HAPPENINGS
PeninsulaREALTORreg Jan - Feb 2016page 26
The Virginia Peninsula Association of REALTORSreg presentshellip
The Accredited Buyer Representative Designation
(Approved for 13HRS CE credit)
Instructor Pat Snyder
Accredited Buyer Representative Designation Course ndash April 7 amp 8 2016
NAME FIRM
ADDRESS MEMBER
CITY STATE ZIP
PHONE E-MAIL
Method of Payment Check
Credit Card Exp date
Signature (Your signature indicates acceptance of VPAR registration policy and authorization of credit card charges) Real Estate License Exp date
PLEASE RETURN TO VPAR AT FAX NUMBER 757-596-3911 MAIL TO VPAR 1001 North Campus Parkway Hampton VA 23666 or register online at membersvparorg
QUESTIONS CALL 757-599-5222 Cancellations must be received within 48- business hours of course to receive a refund Registrations are
non-transferable On-site late registration fee is $325 VPAR RESERVES THE RIGHT TO CANCEL THE COURSE IF MINIMUM REGISTRATIONS ARE NOT MET
Please notify us in advance if you have a disability that requires special services
Thursday amp Friday April 7 amp 8 2016 830 am ndash 500 pm
APRIL IS A SPECIAL DISCOUNT MONTH (REGULAR MEMBER RATE IS $295)
VPAR Headquarters Training Room A 1001 North Campus Parkway Hampton VA 23666 Early Bird Pricing before April 1 by NOON
Members $255 Non-Members $275
Register after Members $275 Non-Members $300
On-site registration fee is $325
PeninsulaREALTORreg Jan - Feb 2016page 27
VPAR Peninsula Partners include the following loyal firms who have stepped up to support VPARevents and education throughout the year This program reflects a commitment to provide REALTORreg
members with the best business environment while connecting to industry professionals whoprovide valuable products and services It is designed to create a unique partnership between
sponsors and the Association where both members and sponsors benefit greatly through the abilityto network exchange ideas and conduct business
PeninsulaREALTORreg Jan - Feb 2016page 28
VPAR Members Supporting Our Communities atThe Poquoson Neighborhood Food Distribution
for the Peninsula Food Bank
PeninsulaREALTORreg Jan - Feb 2016page 29
CONTACT A LOCAL LOAN OFFICER AT 1-877-573-2324gt KIMBERLY CRESS EXT 21238gt LASHEKA PEARSON-PARKER EXT 21210gt NATASHA THOMAS EXT 21104
Federally insured by NCUA 100 financing loans include an additional funding fee which may be financed up to the maximum loan amount Product features subject to approval copy 2016 Navy Federal NFCU 13490 (2-16)
THEYrsquoLL ENJOY
gt no application feegt 100 financing optionsgt up to 6 seller contribution allowed
HELP YOUR CLIENTS UNLOCK THE DOOR TO THEIR FIRST HOME
13490_Peninsula_Realtor_Mag_Ad_2_162indd 1 2416 202 PM
PeninsulaREALTORreg Jan - Feb 2016page 30
smile you can have 2-10 Home Buyers Warrantyreg
on your team with our industry leading Home
Warranty Service Agreement
bull Over 55 million homes protected
bull Over 975 of claims paid
bull A Rating with the Better Business Bureau (BBB)
Carolyn Ricketts Account Executive5716068051| cricketts2-10com
Defeated a 500 Increase We helped to defeat a budget amendment that would have increased the deductible that property owners including
YOUR clients pay to have their leaking underground oil tanks cleaned up and repaired by 500 The current $500 deductible was proposed to go up to $2500
The petroleum tank increase was a budget amendment
Prison time 1 to 6 years We added a felony charge to any criminal who lures or entices a REALTORreg to a property with the intent to do harm
The added felony will increase a criminalrsquos sentence by up to 6 years The 1-6 years are the statutory sentencing guidelines
Save $150 - $500hr on attorneysrsquo fees We continued to refine legislation that allows property managers to represent your clients in General District court
without needing an attorney So how much would your attorney charge per hour Typically attorney fees range from $150 - $500hr
$12000 back to consumers Under a new law that VAR drafted we have made it easier for Virginia consumers who have received a court judgment to
collect damages from the Real Estate Transaction Recovery Fund The average claim is approximately $12000 The $12000 figure is an estimate by the DPOR finance staff on the average claim that comes before the Board
Wiped out $200per Sign Fines We worked with a state legislator to prevent a proposal creating daily fines of $200 for any sign in any public right of
way How often do you use such signs for your listings 10 days for 1 sign = $2000 The $200 per sign was the language in the proposed bill VAR was able to stop
Keep RPAC of Virginia working for you Without your support RPAC cannot remain a powerful voice on key legislative issues Your dollars help us make our voice heard
Visit VirginiaRealtorsChoosecom
RPAC of VIRGINIA VICTORIES BY THE NUMBER$
RPAC makes a difference Just look at the numbers
PeninsulaREALTORreg Jan - Feb 2016page 32
January 2016 Virginia residential real estate sales showed typical industry seasonality January tends to be the slowest month for home sales and this year was particularly affected by catastrophic Winter Storm Jonas In spite of blizzard conditions that halted market activity for several days sales volume was nearly on par with the same month last year The value of transactions in January 2016 exceeded $174 billion an out performance of the previous January Median sales price rose 326 percent year-over-year and more than 7 per-cent from January 2014 Year-over-year elevation indicates sustainable market improvement Click here for the complete report httptinyurlcomj7k254s
Full service marketing amp innovative mobile platformsall designed with your business in mind
NMLS 176544 Member FDIC
MonarchWhere homebuying dreams take flight
PeninsulaREALTORreg Jan - Feb 2016page 33
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAIL
Featuring250 characters25 per lineEast WilmingtonRutherford Grand LakesArington Hills CoolidgeElrot Florence GilbertGold Canyon King andQueen Cedar CrestBristol Newport JacksonMadison ElbertvilleBarrowALL ACROSS NORTH AMERICA
THERealEstateBookreg
Volume 00 Issue 00
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAILTo see a sample listing on your smartphone Text T312634 to 85377
Learn more at RealEstateBookMediaKitcomFor FREE MAGAZINES or to ADVERTISE visit our website or call 800-841-3401
Bill McFallMarket Representative
The Market Leader in Hampton Roads VA amp North America
780 Pilot House Drive Building 400B Newport News VA 23606
office 757-873-6731 bull cell 757-286-6731 bull fax 757-273-8275email billmcfallcoxnet
wwwRealEstateBookHRcom
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Interested in advertising your company Click here for our 2016 Adverstising Information
or call us at 757-599-5222 today
PeninsulaREALTORreg Jan - Feb 2016page 34
The PeninsulaPerspective by Jim Wetzel RCE CEO
Nobody will ever deprive the American people of the right to vote except the American people themselves and the only way they could do this is by not voting
Franklin D Roosevelt
This past week I was honored to attend our REALTOR Legislative Meetings in Richmond VA together with our members arriving from all corners of the commonwealth We arrived with a common mission of taking our message to our legislators on the many ways we can improve the real estate industry and homeownership opportunities in our communities
With pride our members spoke of the improvements in the real estate indus-
try over the past year and highlighted our recommendations on how together REALTORS and our legislative partners can make things even better in the years ahead We highlighted important chang-es that we felt would make not only the industry better but the lives of all who call Virginia their home
We spoke together and our legislators listened We made a difference
On March 1st the process of selecting our next President of the United States begins We have listened to the debates been inundated by the media heard from the political commentators and heard the endorsements
Now it is time for us to speak We can make a difference one vote at a time
PeninsulaREALTORreg Jan - Feb 2016page 35
result in a significant increased amount of foreclosuresrdquo NAR has long supported the VA home loan guaranty program and believes that as an entitlement program our nationrsquos veterans should have the freedom to purchase a home wherever they choose to live
Should you have questions on these or other issues or for additional details please contact Susan Gaston VPARrsquos Legislative Consultant at 757-871-1445 or at susangastongroupcom
PeninsulaREALTORreg Jan - Feb 2016page 14
The PeninsulaMonitor continued
Commuting Costs Important to Home Buyers
Even with plunging gas prices the cost of commuting to and from the office can be pricey (as well as stressful) But how much does that commute play into the homebuying process According to research from the National Association of REALTORSreg commuting costs defi-nitely come into play in searching for and purchasing that dream home in fact 30 percent of homebuyers purchased homes last year to cut down on commut-ing costsmdasha factor they cited as ldquovery importantrdquo Additionally 64 percent of buyers bought their home in part because it was convenient to their job this was so important that 23 percent of those buyers said they compromised on the price of their home to be physi-cally closer to work mak-ing more time for the other important things in their life such as spending time with friends and family
Take a look at NARrsquos 2015 Profile of Home Buyers and Sellers Read more about this topic on NARrsquos Econo-mistsrsquo Outlook blog
The PeninsulaMarket Tips
PeninsulaREALTORreg Jan - Feb 2016page 15
REALTORSreg amp RESPA
Are Realtors Getting Reli-gion
Most Realtors are aware of the anti-kick-back provi-sions of the
Real Estate Settlement Procedures Act ldquoNo man shall giveth Yea neither shall he receiveth any thing of value to God or Mammon pursuant to any covenant under the heavens that calleth for referrals of settlement servicesrdquo Book of RESPA 84
This well-known proverb articulates the received wisdom of Congress that refer-ral fees unnecessarily add to the cost of settlements and thus make housing less affordable for Godrsquos children Not every-one agrees however RESPA expert Phillip Schulman for instance has articulated a three-part test to determine the legality of any particular activity under RESPA First Does the activity make business sense that is does it tend to increase efficiency decrease waste and lower costs Second Does the activity benefit the parties to the transaction (here the brokers borrowers buyers and sellers) And finally Would the activity be permitted in almost any
other arena of commerce as accepted and ethical business practice If the answer to all three questions is yes then the activity says Schulman is almost certainly illegal under RESPA
The essence of Section 8 of RESPA seems to be that while the business expense of a targeted and highly effective referral fee paid by a lender to a referral source must be recovered by the lender in the form of higher loan costs the highly inefficient ad-vertising that replaces the referral source does not You can decide what to make of that argument
However we have to live with the RE-SPA prohibition against paid referrals as valueless acts that serve only to drive up costs But even RESPA acknowledges that it is legal to be paid for services actually performed up to the value of the services if the services are not referrals (which by definition have no value) And it is legal to refer business to an entity of which you are an owner as long as your compen-sation is based on your profit from the entity and not linked to the referral per se And thereon hangs an interesting tale
Lenders and other settlement service pro-viders long ago discovered that offering a piece of the pie to sources of referrals made good business sense Thus we have seen a proliferation of real estate broker-
Risk ManagementREALTORSreg and RESPAby Blake Hegeman CAE Deputy General Counsel
PeninsulaREALTORreg Jan - Feb 2016page 16
Risk ManagementREALTORSreg and RESPAby Blake Hegeman CAE Deputy General
lender lender-title company broker-settlement agency joint ventures over the years These couplings make great sense and afford the participants incentives to refer business to the joint venture partner This type of relationship does not violate RESPA if the benefit accruing to the referral source is strictly according to ownership interest in the benefited entity and the consumer to whom a referral is made is given the RESPA Miranda warning ndash basically that the person making the referral may benefit from it that the service will cost a certain amount and that the consumer might find the service cheaper elsewhere These relationships are legal and ethical and can be quite beneficial
Now because RESPA permits service pro-viders to pay for service actually performed some have tried ndash with varying degrees of
success ndash to skirt RESPA by paying more than the service is worth or for duplicative efforts or even for only nominal ndash or no -- service These ldquodisguisedrdquo referral fees are illegal and much despised by HUD who seeketh after them like the righteous man seeketh after salvation
That brings us to a more recent phenom-enon the efforts of some mortgage brokers and lenders to avoid the strictures of RESPA by hiring referral sources as employees and paying them for work they do as employees Of course much or all of that work will be for clients referred by the employee but if the employeremployee relationship is bona fide and the salary is for -- and commen-surate with -- services actually performed the relationship can be legal Itrsquos likely that HUD will apply something like the IRS test to determine whether the employee really is an employee and virtually everyone acknowledges that merely giving the ldquoem-ployeerdquo a W-2 and calling her an employee will not be enough
PeninsulaREALTORreg Jan - Feb 2016page 17
Risk ManagementREALTORSreg and RESPAby Blake Hegeman CAE Deputy General
We also need to be aware of another limita-tion imposed by Virginia law even when the labyrinth of RESPA has been negotiated The Virginia Mortgage Lender and Bro-ker Act provides in Section 61-422 that a person may not receive a fee as a mortgage broker and a real estate broker for services performed in the same transaction unless the person was licensed and regularly engaged in mortgage brokerage in Virginia as of Feb-ruary 1989 This resolution of a turf battle between mortgage and real estate brokers was weakened by a provision permitting real estate brokers (but not salespersons) who are owners of a real estate firm to own
an interest in a mortgage lender or broker and to profit from such investment and be compensated for services actually performed for those entities But the prohibition on dual brokerage fees to non-grandfathered persons persists
These are only a few examples from the veritable patchwork quilt of efforts to overcome RESPArsquos prohibition on referral fees Perhaps what Realtors need most to be aware of is that HUD approaches what it sees as RESPA violations with a fervent zeal displayed few other places If you are look-ing for a way to receive a fee for referring settlement business look for another way to make a buck If yoursquore willing to work le-gitimately for a service provider and get paid for the value of what you do -- and no more ndash there are opportunities out there awaiting
NEW Womens Council of REALTORSreg Coastal Chapter at VPAR
PeninsulaREALTORreg Jan - Feb 2016page 18
PeninsulaREALTORreg UPCOMING EVENTSby Jo McNamara Daly Director of education and events
Save The Dates
March 5th - OSC Awards Banquet at City Center
March 22nd - Lunch amp Learn SEO
April 12th - VRLTA Seminar with Chip Dicks
April 19th - General Membership Meeting at VPAR
May 9th - 14th - NAR Legisilative Conference in DC
PeninsulaREALTORreg Jan - Feb 2016page 19
Ready To Get StartedCONTACT ATLANTIC BAY TODAY
For examplehellip A borrower age 72 with a purchase price of $200000 would require ONLY $92000 at closing for the Reverse Mortgage
Homeowner continues to pay insurance and property taxes live in and maintain home Home must be primary residence Program not currently available in all states People portrayed are professional models and are used for illustrative purposes only Terms and conditions subject to change without notice Consult your tax advisor before choosing a reverse mortgage
Clients Mustbull Be 62 or older to qualify (at least one person-can have younger spouse as non-borrower to
qualify)
bull Own your home outright (or have a low mortgage balance that can be paid off at closing with proceeds from the reverse loan or have a large down payment to purchase)
bull Have the financial resources to pay ongoing property charges including taxes and insurance
bull Live in the home
You donrsquot make payments while you live in the house but the loan and interest come due when you sell move out for 12 months or more or last person leaves the house permanently
DAWN ST CLAIR PHILLIPSSr Mortgage BankerNMLS 115936757-715-5733dawnphillipsatlanticbaycomatlanticbaycomdawnphillipscom
Did you knowYOU CAN USE A REVERSE MORTGAGE TO PURCHASE A HOME
ARE YOU CONSIDERING MOVING CLOSER TO YOUR FAMILY OR DOWNSIZING TO A HOME THAT BETTER SUITS YOUR NEEDSOR LOOKING TO STAY IN YOUR HOME AND NEED ADDITIONAL INCOME
PeninsulaREALTORreg Jan - Feb 2016page 20
PeninsulaREALTORreg Jan - Feb 2016page 21
PeninsulaREALTORreg Jan - Feb 2016page 22
The PeninsulaRealEstateSchoolby Jo Mcnamara Daly Director of Education amp Events
2016 Continuing Education Classes Location
VPAR Building 1001 North Campus Parkway
Hampton VA 23666 757-599-5222
Payment MUST be made at time of registration Register online at membersvparorg and click on Member Service Center to login or complete this form and fax to 757-596-3911 or email to jovparorg VPAR reserves the right to cancel a class if less than 10 people are registered 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 12 Tuesday July 12 Tuesday Feb 9 Tuesday Aug 9 Tuesday Mar 8 Tuesday Sept 13 Tuesday Apr 5 Tuesday Oct 11 Tuesday May 10 Tuesday Nov 8 Tuesday June 21 Tuesday Dec 6
All 8 Hour Classes are from 830 ammdash530 pm
Code of Ethics (Meets NAR Quadrennial Requirements) amp Code of Conduct
Fair Housing Legal Updates amp Emerging Trends (Law) Flood Insurance amp Flood Map Instruction Real Estate Contracts Real Estate Agency
8-HR Elective CE Class Dates
Thursday Feb 16 Tuesday Sept 20 Tuesday May 17 Tuesday Nov 15
Anti-Trust Disclosures Professionalism Safety Do-Nots
3-HR Code of Ethics Course
Thursday November 3rd from 1ndash 4 pm Thursday December 8th from 1-4 pm
More dates to be added soon Meets NAR Quadrennial Requirements
Peninsula Real Estate School owned and operated by
Virginia Peninsula Association of REALTORSreg
Registration Form
Name Company Address City State Zip Phone Email License ______ Exp Date _
Method of Payment
Check Invoice Office Visa MasterCard AMX Discover Card Name on Card ____________________________ Credit Card _____ Exp Date Signature _____ Name on Card _________________________ Amount Due (check appropriate box) 8-Hour Course VPAR Member $50 8-Hour Course Non-Member $60 3-Hour Ethics Course VPAR Member $30 3-Hour Ethics Course VPAR Non-Member $35
PeninsulaREALTORreg Jan - Feb 2016page 23
Chip Dicks VAR Legislative
Counsel
The Virginia Peninsula Association of REALTORSreg in cooperation with
The Virginia Association of REALTORSreg presentshellip
VRLTA Update with Chip Dicks
Get the information you need on the updatedVirginia Residential Landlord Tenant Act
Tuesday April 12th 2016 900 am ndash 400 pm
_________________
$12500 per member $13000 per non-member
Virginia Peninsula Association of REALTORSreg 1001 North Campus Parkway Hampton 23666
Sponsor LUNCH INCLUDED
VRLTA Update with Chip Dicks ndash April 12th 2016Pending REB Approval for 3 Hours Legal Update amp 3 Hours Real Estate Related CE
Pending REB Approval for 2 Hours of Current Industry IssuesTrends Course will be submitted for approval at the end of the general assembly session to include anyall changes in the VRLTA
NAME FIRM
ADDRESS
CITY STATE ZIP
PHONE E-MAIL
Method of PaymentCheck ____ Visa MasterCard____ Discover___ AMX____
Credit Card Exp date
Signature(Your signature indicates acceptance of VPAR registration policy and authorization of credit card charges)
Name on credit card_______________________________________
PLEASE RETURN TO VPAR AT FAX NUMBER 757-596-3911 MAIL TO VPAR 1001 North Campus Parkway Hampton VA 23666 or register online at membersvparorg
QUESTIONS CALL 757-599-5222Cancellations must be received within 48 hours of the event to receive full refund On-site registration fee is $135 Please notify us in advance if you have a disability that requires special services
bull Get up to speed on the recent changes to the Virginia Residential Landlord and Tenant Act
bull Designed for both real estate brokers and sales persons this course offers a detailed review of lease applications
bull A ldquohow tordquo guide for broker agent compliance bull The awareness and information you need to protect your
business
Approved for
6 hrs CE and 2 hrs PL Credit
PeninsulaREALTORreg Jan - Feb 2016page 24
REINMLScom ndash A Valuable Member Resource
This year REIN unveiled a new and improved REINMLScom website If you havenrsquot logged in yet please be sure to do so and take advantage of all the site has to offer
If you have never been to REINrsquos member website and are wondering what it offers think of it as a ldquohubrdquo to all things REIN‐related From REINMLScom you can access Fusion and Matrix find market statistics and graphs the current monthrsquos training calendar PDF copies of REINrsquos contracts and forms and much more You can even access your membership account to review and pay invoices online
The new mobile friendly website offers you a fresh look eye‐catching graphics and improved navigation that makes information easy to find Plus two great new featureshellip
A lsquoSYSTEM STATUSrsquo section has been added to the home page of the website to identify when REINrsquos MLS systems and programs are experiencing known issues such as updates service interruptions or down time
The second new feature is lsquoASK REINrsquo ndash a robust technical support module ASK REIN allows you to search online documentation that can help you troubleshoot commonly asked technical questions and if you canrsquot find the answers you are searching for then you can lsquoSubmit a Support Requestrsquo to REINrsquos Tech Support Department directly from the website
To access the full benefits of REINMLScom members must log into the site using their REIN ID and a password If you have not already done so please establish a password for this website by clicking on lsquoChangeForgot Passwordrsquo located next to the green Log In button in the top right corner of the screen Then check your email for a link to reset your password If you still cannot log into the site please contact REINrsquos Tech Support at 7575317901 or supportreininccom
Check it out today wwwREINMLScom
PeninsulaREALTORreg Jan - Feb 2016page 25
Scenes From Our January Social At BJrsquos at Tech Center amp February at UNOrsquos
THANKS TO OUR ALL SPONSORS MARES Exterminating AT BJrsquos andFidelity Bank Mortgage at UnOrsquos
Vpar SOCIAL HAPPENINGS
PeninsulaREALTORreg Jan - Feb 2016page 26
The Virginia Peninsula Association of REALTORSreg presentshellip
The Accredited Buyer Representative Designation
(Approved for 13HRS CE credit)
Instructor Pat Snyder
Accredited Buyer Representative Designation Course ndash April 7 amp 8 2016
NAME FIRM
ADDRESS MEMBER
CITY STATE ZIP
PHONE E-MAIL
Method of Payment Check
Credit Card Exp date
Signature (Your signature indicates acceptance of VPAR registration policy and authorization of credit card charges) Real Estate License Exp date
PLEASE RETURN TO VPAR AT FAX NUMBER 757-596-3911 MAIL TO VPAR 1001 North Campus Parkway Hampton VA 23666 or register online at membersvparorg
QUESTIONS CALL 757-599-5222 Cancellations must be received within 48- business hours of course to receive a refund Registrations are
non-transferable On-site late registration fee is $325 VPAR RESERVES THE RIGHT TO CANCEL THE COURSE IF MINIMUM REGISTRATIONS ARE NOT MET
Please notify us in advance if you have a disability that requires special services
Thursday amp Friday April 7 amp 8 2016 830 am ndash 500 pm
APRIL IS A SPECIAL DISCOUNT MONTH (REGULAR MEMBER RATE IS $295)
VPAR Headquarters Training Room A 1001 North Campus Parkway Hampton VA 23666 Early Bird Pricing before April 1 by NOON
Members $255 Non-Members $275
Register after Members $275 Non-Members $300
On-site registration fee is $325
PeninsulaREALTORreg Jan - Feb 2016page 27
VPAR Peninsula Partners include the following loyal firms who have stepped up to support VPARevents and education throughout the year This program reflects a commitment to provide REALTORreg
members with the best business environment while connecting to industry professionals whoprovide valuable products and services It is designed to create a unique partnership between
sponsors and the Association where both members and sponsors benefit greatly through the abilityto network exchange ideas and conduct business
PeninsulaREALTORreg Jan - Feb 2016page 28
VPAR Members Supporting Our Communities atThe Poquoson Neighborhood Food Distribution
for the Peninsula Food Bank
PeninsulaREALTORreg Jan - Feb 2016page 29
CONTACT A LOCAL LOAN OFFICER AT 1-877-573-2324gt KIMBERLY CRESS EXT 21238gt LASHEKA PEARSON-PARKER EXT 21210gt NATASHA THOMAS EXT 21104
Federally insured by NCUA 100 financing loans include an additional funding fee which may be financed up to the maximum loan amount Product features subject to approval copy 2016 Navy Federal NFCU 13490 (2-16)
THEYrsquoLL ENJOY
gt no application feegt 100 financing optionsgt up to 6 seller contribution allowed
HELP YOUR CLIENTS UNLOCK THE DOOR TO THEIR FIRST HOME
13490_Peninsula_Realtor_Mag_Ad_2_162indd 1 2416 202 PM
PeninsulaREALTORreg Jan - Feb 2016page 30
smile you can have 2-10 Home Buyers Warrantyreg
on your team with our industry leading Home
Warranty Service Agreement
bull Over 55 million homes protected
bull Over 975 of claims paid
bull A Rating with the Better Business Bureau (BBB)
Carolyn Ricketts Account Executive5716068051| cricketts2-10com
Defeated a 500 Increase We helped to defeat a budget amendment that would have increased the deductible that property owners including
YOUR clients pay to have their leaking underground oil tanks cleaned up and repaired by 500 The current $500 deductible was proposed to go up to $2500
The petroleum tank increase was a budget amendment
Prison time 1 to 6 years We added a felony charge to any criminal who lures or entices a REALTORreg to a property with the intent to do harm
The added felony will increase a criminalrsquos sentence by up to 6 years The 1-6 years are the statutory sentencing guidelines
Save $150 - $500hr on attorneysrsquo fees We continued to refine legislation that allows property managers to represent your clients in General District court
without needing an attorney So how much would your attorney charge per hour Typically attorney fees range from $150 - $500hr
$12000 back to consumers Under a new law that VAR drafted we have made it easier for Virginia consumers who have received a court judgment to
collect damages from the Real Estate Transaction Recovery Fund The average claim is approximately $12000 The $12000 figure is an estimate by the DPOR finance staff on the average claim that comes before the Board
Wiped out $200per Sign Fines We worked with a state legislator to prevent a proposal creating daily fines of $200 for any sign in any public right of
way How often do you use such signs for your listings 10 days for 1 sign = $2000 The $200 per sign was the language in the proposed bill VAR was able to stop
Keep RPAC of Virginia working for you Without your support RPAC cannot remain a powerful voice on key legislative issues Your dollars help us make our voice heard
Visit VirginiaRealtorsChoosecom
RPAC of VIRGINIA VICTORIES BY THE NUMBER$
RPAC makes a difference Just look at the numbers
PeninsulaREALTORreg Jan - Feb 2016page 32
January 2016 Virginia residential real estate sales showed typical industry seasonality January tends to be the slowest month for home sales and this year was particularly affected by catastrophic Winter Storm Jonas In spite of blizzard conditions that halted market activity for several days sales volume was nearly on par with the same month last year The value of transactions in January 2016 exceeded $174 billion an out performance of the previous January Median sales price rose 326 percent year-over-year and more than 7 per-cent from January 2014 Year-over-year elevation indicates sustainable market improvement Click here for the complete report httptinyurlcomj7k254s
Full service marketing amp innovative mobile platformsall designed with your business in mind
NMLS 176544 Member FDIC
MonarchWhere homebuying dreams take flight
PeninsulaREALTORreg Jan - Feb 2016page 33
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAIL
Featuring250 characters25 per lineEast WilmingtonRutherford Grand LakesArington Hills CoolidgeElrot Florence GilbertGold Canyon King andQueen Cedar CrestBristol Newport JacksonMadison ElbertvilleBarrowALL ACROSS NORTH AMERICA
THERealEstateBookreg
Volume 00 Issue 00
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAILTo see a sample listing on your smartphone Text T312634 to 85377
Learn more at RealEstateBookMediaKitcomFor FREE MAGAZINES or to ADVERTISE visit our website or call 800-841-3401
Bill McFallMarket Representative
The Market Leader in Hampton Roads VA amp North America
780 Pilot House Drive Building 400B Newport News VA 23606
office 757-873-6731 bull cell 757-286-6731 bull fax 757-273-8275email billmcfallcoxnet
wwwRealEstateBookHRcom
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Interested in advertising your company Click here for our 2016 Adverstising Information
or call us at 757-599-5222 today
PeninsulaREALTORreg Jan - Feb 2016page 34
The PeninsulaPerspective by Jim Wetzel RCE CEO
Nobody will ever deprive the American people of the right to vote except the American people themselves and the only way they could do this is by not voting
Franklin D Roosevelt
This past week I was honored to attend our REALTOR Legislative Meetings in Richmond VA together with our members arriving from all corners of the commonwealth We arrived with a common mission of taking our message to our legislators on the many ways we can improve the real estate industry and homeownership opportunities in our communities
With pride our members spoke of the improvements in the real estate indus-
try over the past year and highlighted our recommendations on how together REALTORS and our legislative partners can make things even better in the years ahead We highlighted important chang-es that we felt would make not only the industry better but the lives of all who call Virginia their home
We spoke together and our legislators listened We made a difference
On March 1st the process of selecting our next President of the United States begins We have listened to the debates been inundated by the media heard from the political commentators and heard the endorsements
Now it is time for us to speak We can make a difference one vote at a time
PeninsulaREALTORreg Jan - Feb 2016page 35
PeninsulaREALTORreg Jan - Feb 2016page 15
REALTORSreg amp RESPA
Are Realtors Getting Reli-gion
Most Realtors are aware of the anti-kick-back provi-sions of the
Real Estate Settlement Procedures Act ldquoNo man shall giveth Yea neither shall he receiveth any thing of value to God or Mammon pursuant to any covenant under the heavens that calleth for referrals of settlement servicesrdquo Book of RESPA 84
This well-known proverb articulates the received wisdom of Congress that refer-ral fees unnecessarily add to the cost of settlements and thus make housing less affordable for Godrsquos children Not every-one agrees however RESPA expert Phillip Schulman for instance has articulated a three-part test to determine the legality of any particular activity under RESPA First Does the activity make business sense that is does it tend to increase efficiency decrease waste and lower costs Second Does the activity benefit the parties to the transaction (here the brokers borrowers buyers and sellers) And finally Would the activity be permitted in almost any
other arena of commerce as accepted and ethical business practice If the answer to all three questions is yes then the activity says Schulman is almost certainly illegal under RESPA
The essence of Section 8 of RESPA seems to be that while the business expense of a targeted and highly effective referral fee paid by a lender to a referral source must be recovered by the lender in the form of higher loan costs the highly inefficient ad-vertising that replaces the referral source does not You can decide what to make of that argument
However we have to live with the RE-SPA prohibition against paid referrals as valueless acts that serve only to drive up costs But even RESPA acknowledges that it is legal to be paid for services actually performed up to the value of the services if the services are not referrals (which by definition have no value) And it is legal to refer business to an entity of which you are an owner as long as your compen-sation is based on your profit from the entity and not linked to the referral per se And thereon hangs an interesting tale
Lenders and other settlement service pro-viders long ago discovered that offering a piece of the pie to sources of referrals made good business sense Thus we have seen a proliferation of real estate broker-
Risk ManagementREALTORSreg and RESPAby Blake Hegeman CAE Deputy General Counsel
PeninsulaREALTORreg Jan - Feb 2016page 16
Risk ManagementREALTORSreg and RESPAby Blake Hegeman CAE Deputy General
lender lender-title company broker-settlement agency joint ventures over the years These couplings make great sense and afford the participants incentives to refer business to the joint venture partner This type of relationship does not violate RESPA if the benefit accruing to the referral source is strictly according to ownership interest in the benefited entity and the consumer to whom a referral is made is given the RESPA Miranda warning ndash basically that the person making the referral may benefit from it that the service will cost a certain amount and that the consumer might find the service cheaper elsewhere These relationships are legal and ethical and can be quite beneficial
Now because RESPA permits service pro-viders to pay for service actually performed some have tried ndash with varying degrees of
success ndash to skirt RESPA by paying more than the service is worth or for duplicative efforts or even for only nominal ndash or no -- service These ldquodisguisedrdquo referral fees are illegal and much despised by HUD who seeketh after them like the righteous man seeketh after salvation
That brings us to a more recent phenom-enon the efforts of some mortgage brokers and lenders to avoid the strictures of RESPA by hiring referral sources as employees and paying them for work they do as employees Of course much or all of that work will be for clients referred by the employee but if the employeremployee relationship is bona fide and the salary is for -- and commen-surate with -- services actually performed the relationship can be legal Itrsquos likely that HUD will apply something like the IRS test to determine whether the employee really is an employee and virtually everyone acknowledges that merely giving the ldquoem-ployeerdquo a W-2 and calling her an employee will not be enough
PeninsulaREALTORreg Jan - Feb 2016page 17
Risk ManagementREALTORSreg and RESPAby Blake Hegeman CAE Deputy General
We also need to be aware of another limita-tion imposed by Virginia law even when the labyrinth of RESPA has been negotiated The Virginia Mortgage Lender and Bro-ker Act provides in Section 61-422 that a person may not receive a fee as a mortgage broker and a real estate broker for services performed in the same transaction unless the person was licensed and regularly engaged in mortgage brokerage in Virginia as of Feb-ruary 1989 This resolution of a turf battle between mortgage and real estate brokers was weakened by a provision permitting real estate brokers (but not salespersons) who are owners of a real estate firm to own
an interest in a mortgage lender or broker and to profit from such investment and be compensated for services actually performed for those entities But the prohibition on dual brokerage fees to non-grandfathered persons persists
These are only a few examples from the veritable patchwork quilt of efforts to overcome RESPArsquos prohibition on referral fees Perhaps what Realtors need most to be aware of is that HUD approaches what it sees as RESPA violations with a fervent zeal displayed few other places If you are look-ing for a way to receive a fee for referring settlement business look for another way to make a buck If yoursquore willing to work le-gitimately for a service provider and get paid for the value of what you do -- and no more ndash there are opportunities out there awaiting
NEW Womens Council of REALTORSreg Coastal Chapter at VPAR
PeninsulaREALTORreg Jan - Feb 2016page 18
PeninsulaREALTORreg UPCOMING EVENTSby Jo McNamara Daly Director of education and events
Save The Dates
March 5th - OSC Awards Banquet at City Center
March 22nd - Lunch amp Learn SEO
April 12th - VRLTA Seminar with Chip Dicks
April 19th - General Membership Meeting at VPAR
May 9th - 14th - NAR Legisilative Conference in DC
PeninsulaREALTORreg Jan - Feb 2016page 19
Ready To Get StartedCONTACT ATLANTIC BAY TODAY
For examplehellip A borrower age 72 with a purchase price of $200000 would require ONLY $92000 at closing for the Reverse Mortgage
Homeowner continues to pay insurance and property taxes live in and maintain home Home must be primary residence Program not currently available in all states People portrayed are professional models and are used for illustrative purposes only Terms and conditions subject to change without notice Consult your tax advisor before choosing a reverse mortgage
Clients Mustbull Be 62 or older to qualify (at least one person-can have younger spouse as non-borrower to
qualify)
bull Own your home outright (or have a low mortgage balance that can be paid off at closing with proceeds from the reverse loan or have a large down payment to purchase)
bull Have the financial resources to pay ongoing property charges including taxes and insurance
bull Live in the home
You donrsquot make payments while you live in the house but the loan and interest come due when you sell move out for 12 months or more or last person leaves the house permanently
DAWN ST CLAIR PHILLIPSSr Mortgage BankerNMLS 115936757-715-5733dawnphillipsatlanticbaycomatlanticbaycomdawnphillipscom
Did you knowYOU CAN USE A REVERSE MORTGAGE TO PURCHASE A HOME
ARE YOU CONSIDERING MOVING CLOSER TO YOUR FAMILY OR DOWNSIZING TO A HOME THAT BETTER SUITS YOUR NEEDSOR LOOKING TO STAY IN YOUR HOME AND NEED ADDITIONAL INCOME
PeninsulaREALTORreg Jan - Feb 2016page 20
PeninsulaREALTORreg Jan - Feb 2016page 21
PeninsulaREALTORreg Jan - Feb 2016page 22
The PeninsulaRealEstateSchoolby Jo Mcnamara Daly Director of Education amp Events
2016 Continuing Education Classes Location
VPAR Building 1001 North Campus Parkway
Hampton VA 23666 757-599-5222
Payment MUST be made at time of registration Register online at membersvparorg and click on Member Service Center to login or complete this form and fax to 757-596-3911 or email to jovparorg VPAR reserves the right to cancel a class if less than 10 people are registered 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 12 Tuesday July 12 Tuesday Feb 9 Tuesday Aug 9 Tuesday Mar 8 Tuesday Sept 13 Tuesday Apr 5 Tuesday Oct 11 Tuesday May 10 Tuesday Nov 8 Tuesday June 21 Tuesday Dec 6
All 8 Hour Classes are from 830 ammdash530 pm
Code of Ethics (Meets NAR Quadrennial Requirements) amp Code of Conduct
Fair Housing Legal Updates amp Emerging Trends (Law) Flood Insurance amp Flood Map Instruction Real Estate Contracts Real Estate Agency
8-HR Elective CE Class Dates
Thursday Feb 16 Tuesday Sept 20 Tuesday May 17 Tuesday Nov 15
Anti-Trust Disclosures Professionalism Safety Do-Nots
3-HR Code of Ethics Course
Thursday November 3rd from 1ndash 4 pm Thursday December 8th from 1-4 pm
More dates to be added soon Meets NAR Quadrennial Requirements
Peninsula Real Estate School owned and operated by
Virginia Peninsula Association of REALTORSreg
Registration Form
Name Company Address City State Zip Phone Email License ______ Exp Date _
Method of Payment
Check Invoice Office Visa MasterCard AMX Discover Card Name on Card ____________________________ Credit Card _____ Exp Date Signature _____ Name on Card _________________________ Amount Due (check appropriate box) 8-Hour Course VPAR Member $50 8-Hour Course Non-Member $60 3-Hour Ethics Course VPAR Member $30 3-Hour Ethics Course VPAR Non-Member $35
PeninsulaREALTORreg Jan - Feb 2016page 23
Chip Dicks VAR Legislative
Counsel
The Virginia Peninsula Association of REALTORSreg in cooperation with
The Virginia Association of REALTORSreg presentshellip
VRLTA Update with Chip Dicks
Get the information you need on the updatedVirginia Residential Landlord Tenant Act
Tuesday April 12th 2016 900 am ndash 400 pm
_________________
$12500 per member $13000 per non-member
Virginia Peninsula Association of REALTORSreg 1001 North Campus Parkway Hampton 23666
Sponsor LUNCH INCLUDED
VRLTA Update with Chip Dicks ndash April 12th 2016Pending REB Approval for 3 Hours Legal Update amp 3 Hours Real Estate Related CE
Pending REB Approval for 2 Hours of Current Industry IssuesTrends Course will be submitted for approval at the end of the general assembly session to include anyall changes in the VRLTA
NAME FIRM
ADDRESS
CITY STATE ZIP
PHONE E-MAIL
Method of PaymentCheck ____ Visa MasterCard____ Discover___ AMX____
Credit Card Exp date
Signature(Your signature indicates acceptance of VPAR registration policy and authorization of credit card charges)
Name on credit card_______________________________________
PLEASE RETURN TO VPAR AT FAX NUMBER 757-596-3911 MAIL TO VPAR 1001 North Campus Parkway Hampton VA 23666 or register online at membersvparorg
QUESTIONS CALL 757-599-5222Cancellations must be received within 48 hours of the event to receive full refund On-site registration fee is $135 Please notify us in advance if you have a disability that requires special services
bull Get up to speed on the recent changes to the Virginia Residential Landlord and Tenant Act
bull Designed for both real estate brokers and sales persons this course offers a detailed review of lease applications
bull A ldquohow tordquo guide for broker agent compliance bull The awareness and information you need to protect your
business
Approved for
6 hrs CE and 2 hrs PL Credit
PeninsulaREALTORreg Jan - Feb 2016page 24
REINMLScom ndash A Valuable Member Resource
This year REIN unveiled a new and improved REINMLScom website If you havenrsquot logged in yet please be sure to do so and take advantage of all the site has to offer
If you have never been to REINrsquos member website and are wondering what it offers think of it as a ldquohubrdquo to all things REIN‐related From REINMLScom you can access Fusion and Matrix find market statistics and graphs the current monthrsquos training calendar PDF copies of REINrsquos contracts and forms and much more You can even access your membership account to review and pay invoices online
The new mobile friendly website offers you a fresh look eye‐catching graphics and improved navigation that makes information easy to find Plus two great new featureshellip
A lsquoSYSTEM STATUSrsquo section has been added to the home page of the website to identify when REINrsquos MLS systems and programs are experiencing known issues such as updates service interruptions or down time
The second new feature is lsquoASK REINrsquo ndash a robust technical support module ASK REIN allows you to search online documentation that can help you troubleshoot commonly asked technical questions and if you canrsquot find the answers you are searching for then you can lsquoSubmit a Support Requestrsquo to REINrsquos Tech Support Department directly from the website
To access the full benefits of REINMLScom members must log into the site using their REIN ID and a password If you have not already done so please establish a password for this website by clicking on lsquoChangeForgot Passwordrsquo located next to the green Log In button in the top right corner of the screen Then check your email for a link to reset your password If you still cannot log into the site please contact REINrsquos Tech Support at 7575317901 or supportreininccom
Check it out today wwwREINMLScom
PeninsulaREALTORreg Jan - Feb 2016page 25
Scenes From Our January Social At BJrsquos at Tech Center amp February at UNOrsquos
THANKS TO OUR ALL SPONSORS MARES Exterminating AT BJrsquos andFidelity Bank Mortgage at UnOrsquos
Vpar SOCIAL HAPPENINGS
PeninsulaREALTORreg Jan - Feb 2016page 26
The Virginia Peninsula Association of REALTORSreg presentshellip
The Accredited Buyer Representative Designation
(Approved for 13HRS CE credit)
Instructor Pat Snyder
Accredited Buyer Representative Designation Course ndash April 7 amp 8 2016
NAME FIRM
ADDRESS MEMBER
CITY STATE ZIP
PHONE E-MAIL
Method of Payment Check
Credit Card Exp date
Signature (Your signature indicates acceptance of VPAR registration policy and authorization of credit card charges) Real Estate License Exp date
PLEASE RETURN TO VPAR AT FAX NUMBER 757-596-3911 MAIL TO VPAR 1001 North Campus Parkway Hampton VA 23666 or register online at membersvparorg
QUESTIONS CALL 757-599-5222 Cancellations must be received within 48- business hours of course to receive a refund Registrations are
non-transferable On-site late registration fee is $325 VPAR RESERVES THE RIGHT TO CANCEL THE COURSE IF MINIMUM REGISTRATIONS ARE NOT MET
Please notify us in advance if you have a disability that requires special services
Thursday amp Friday April 7 amp 8 2016 830 am ndash 500 pm
APRIL IS A SPECIAL DISCOUNT MONTH (REGULAR MEMBER RATE IS $295)
VPAR Headquarters Training Room A 1001 North Campus Parkway Hampton VA 23666 Early Bird Pricing before April 1 by NOON
Members $255 Non-Members $275
Register after Members $275 Non-Members $300
On-site registration fee is $325
PeninsulaREALTORreg Jan - Feb 2016page 27
VPAR Peninsula Partners include the following loyal firms who have stepped up to support VPARevents and education throughout the year This program reflects a commitment to provide REALTORreg
members with the best business environment while connecting to industry professionals whoprovide valuable products and services It is designed to create a unique partnership between
sponsors and the Association where both members and sponsors benefit greatly through the abilityto network exchange ideas and conduct business
PeninsulaREALTORreg Jan - Feb 2016page 28
VPAR Members Supporting Our Communities atThe Poquoson Neighborhood Food Distribution
for the Peninsula Food Bank
PeninsulaREALTORreg Jan - Feb 2016page 29
CONTACT A LOCAL LOAN OFFICER AT 1-877-573-2324gt KIMBERLY CRESS EXT 21238gt LASHEKA PEARSON-PARKER EXT 21210gt NATASHA THOMAS EXT 21104
Federally insured by NCUA 100 financing loans include an additional funding fee which may be financed up to the maximum loan amount Product features subject to approval copy 2016 Navy Federal NFCU 13490 (2-16)
THEYrsquoLL ENJOY
gt no application feegt 100 financing optionsgt up to 6 seller contribution allowed
HELP YOUR CLIENTS UNLOCK THE DOOR TO THEIR FIRST HOME
13490_Peninsula_Realtor_Mag_Ad_2_162indd 1 2416 202 PM
PeninsulaREALTORreg Jan - Feb 2016page 30
smile you can have 2-10 Home Buyers Warrantyreg
on your team with our industry leading Home
Warranty Service Agreement
bull Over 55 million homes protected
bull Over 975 of claims paid
bull A Rating with the Better Business Bureau (BBB)
Carolyn Ricketts Account Executive5716068051| cricketts2-10com
Defeated a 500 Increase We helped to defeat a budget amendment that would have increased the deductible that property owners including
YOUR clients pay to have their leaking underground oil tanks cleaned up and repaired by 500 The current $500 deductible was proposed to go up to $2500
The petroleum tank increase was a budget amendment
Prison time 1 to 6 years We added a felony charge to any criminal who lures or entices a REALTORreg to a property with the intent to do harm
The added felony will increase a criminalrsquos sentence by up to 6 years The 1-6 years are the statutory sentencing guidelines
Save $150 - $500hr on attorneysrsquo fees We continued to refine legislation that allows property managers to represent your clients in General District court
without needing an attorney So how much would your attorney charge per hour Typically attorney fees range from $150 - $500hr
$12000 back to consumers Under a new law that VAR drafted we have made it easier for Virginia consumers who have received a court judgment to
collect damages from the Real Estate Transaction Recovery Fund The average claim is approximately $12000 The $12000 figure is an estimate by the DPOR finance staff on the average claim that comes before the Board
Wiped out $200per Sign Fines We worked with a state legislator to prevent a proposal creating daily fines of $200 for any sign in any public right of
way How often do you use such signs for your listings 10 days for 1 sign = $2000 The $200 per sign was the language in the proposed bill VAR was able to stop
Keep RPAC of Virginia working for you Without your support RPAC cannot remain a powerful voice on key legislative issues Your dollars help us make our voice heard
Visit VirginiaRealtorsChoosecom
RPAC of VIRGINIA VICTORIES BY THE NUMBER$
RPAC makes a difference Just look at the numbers
PeninsulaREALTORreg Jan - Feb 2016page 32
January 2016 Virginia residential real estate sales showed typical industry seasonality January tends to be the slowest month for home sales and this year was particularly affected by catastrophic Winter Storm Jonas In spite of blizzard conditions that halted market activity for several days sales volume was nearly on par with the same month last year The value of transactions in January 2016 exceeded $174 billion an out performance of the previous January Median sales price rose 326 percent year-over-year and more than 7 per-cent from January 2014 Year-over-year elevation indicates sustainable market improvement Click here for the complete report httptinyurlcomj7k254s
Full service marketing amp innovative mobile platformsall designed with your business in mind
NMLS 176544 Member FDIC
MonarchWhere homebuying dreams take flight
PeninsulaREALTORreg Jan - Feb 2016page 33
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAIL
Featuring250 characters25 per lineEast WilmingtonRutherford Grand LakesArington Hills CoolidgeElrot Florence GilbertGold Canyon King andQueen Cedar CrestBristol Newport JacksonMadison ElbertvilleBarrowALL ACROSS NORTH AMERICA
THERealEstateBookreg
Volume 00 Issue 00
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAILTo see a sample listing on your smartphone Text T312634 to 85377
Learn more at RealEstateBookMediaKitcomFor FREE MAGAZINES or to ADVERTISE visit our website or call 800-841-3401
Bill McFallMarket Representative
The Market Leader in Hampton Roads VA amp North America
780 Pilot House Drive Building 400B Newport News VA 23606
office 757-873-6731 bull cell 757-286-6731 bull fax 757-273-8275email billmcfallcoxnet
wwwRealEstateBookHRcom
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Interested in advertising your company Click here for our 2016 Adverstising Information
or call us at 757-599-5222 today
PeninsulaREALTORreg Jan - Feb 2016page 34
The PeninsulaPerspective by Jim Wetzel RCE CEO
Nobody will ever deprive the American people of the right to vote except the American people themselves and the only way they could do this is by not voting
Franklin D Roosevelt
This past week I was honored to attend our REALTOR Legislative Meetings in Richmond VA together with our members arriving from all corners of the commonwealth We arrived with a common mission of taking our message to our legislators on the many ways we can improve the real estate industry and homeownership opportunities in our communities
With pride our members spoke of the improvements in the real estate indus-
try over the past year and highlighted our recommendations on how together REALTORS and our legislative partners can make things even better in the years ahead We highlighted important chang-es that we felt would make not only the industry better but the lives of all who call Virginia their home
We spoke together and our legislators listened We made a difference
On March 1st the process of selecting our next President of the United States begins We have listened to the debates been inundated by the media heard from the political commentators and heard the endorsements
Now it is time for us to speak We can make a difference one vote at a time
PeninsulaREALTORreg Jan - Feb 2016page 35
PeninsulaREALTORreg Jan - Feb 2016page 16
Risk ManagementREALTORSreg and RESPAby Blake Hegeman CAE Deputy General
lender lender-title company broker-settlement agency joint ventures over the years These couplings make great sense and afford the participants incentives to refer business to the joint venture partner This type of relationship does not violate RESPA if the benefit accruing to the referral source is strictly according to ownership interest in the benefited entity and the consumer to whom a referral is made is given the RESPA Miranda warning ndash basically that the person making the referral may benefit from it that the service will cost a certain amount and that the consumer might find the service cheaper elsewhere These relationships are legal and ethical and can be quite beneficial
Now because RESPA permits service pro-viders to pay for service actually performed some have tried ndash with varying degrees of
success ndash to skirt RESPA by paying more than the service is worth or for duplicative efforts or even for only nominal ndash or no -- service These ldquodisguisedrdquo referral fees are illegal and much despised by HUD who seeketh after them like the righteous man seeketh after salvation
That brings us to a more recent phenom-enon the efforts of some mortgage brokers and lenders to avoid the strictures of RESPA by hiring referral sources as employees and paying them for work they do as employees Of course much or all of that work will be for clients referred by the employee but if the employeremployee relationship is bona fide and the salary is for -- and commen-surate with -- services actually performed the relationship can be legal Itrsquos likely that HUD will apply something like the IRS test to determine whether the employee really is an employee and virtually everyone acknowledges that merely giving the ldquoem-ployeerdquo a W-2 and calling her an employee will not be enough
PeninsulaREALTORreg Jan - Feb 2016page 17
Risk ManagementREALTORSreg and RESPAby Blake Hegeman CAE Deputy General
We also need to be aware of another limita-tion imposed by Virginia law even when the labyrinth of RESPA has been negotiated The Virginia Mortgage Lender and Bro-ker Act provides in Section 61-422 that a person may not receive a fee as a mortgage broker and a real estate broker for services performed in the same transaction unless the person was licensed and regularly engaged in mortgage brokerage in Virginia as of Feb-ruary 1989 This resolution of a turf battle between mortgage and real estate brokers was weakened by a provision permitting real estate brokers (but not salespersons) who are owners of a real estate firm to own
an interest in a mortgage lender or broker and to profit from such investment and be compensated for services actually performed for those entities But the prohibition on dual brokerage fees to non-grandfathered persons persists
These are only a few examples from the veritable patchwork quilt of efforts to overcome RESPArsquos prohibition on referral fees Perhaps what Realtors need most to be aware of is that HUD approaches what it sees as RESPA violations with a fervent zeal displayed few other places If you are look-ing for a way to receive a fee for referring settlement business look for another way to make a buck If yoursquore willing to work le-gitimately for a service provider and get paid for the value of what you do -- and no more ndash there are opportunities out there awaiting
NEW Womens Council of REALTORSreg Coastal Chapter at VPAR
PeninsulaREALTORreg Jan - Feb 2016page 18
PeninsulaREALTORreg UPCOMING EVENTSby Jo McNamara Daly Director of education and events
Save The Dates
March 5th - OSC Awards Banquet at City Center
March 22nd - Lunch amp Learn SEO
April 12th - VRLTA Seminar with Chip Dicks
April 19th - General Membership Meeting at VPAR
May 9th - 14th - NAR Legisilative Conference in DC
PeninsulaREALTORreg Jan - Feb 2016page 19
Ready To Get StartedCONTACT ATLANTIC BAY TODAY
For examplehellip A borrower age 72 with a purchase price of $200000 would require ONLY $92000 at closing for the Reverse Mortgage
Homeowner continues to pay insurance and property taxes live in and maintain home Home must be primary residence Program not currently available in all states People portrayed are professional models and are used for illustrative purposes only Terms and conditions subject to change without notice Consult your tax advisor before choosing a reverse mortgage
Clients Mustbull Be 62 or older to qualify (at least one person-can have younger spouse as non-borrower to
qualify)
bull Own your home outright (or have a low mortgage balance that can be paid off at closing with proceeds from the reverse loan or have a large down payment to purchase)
bull Have the financial resources to pay ongoing property charges including taxes and insurance
bull Live in the home
You donrsquot make payments while you live in the house but the loan and interest come due when you sell move out for 12 months or more or last person leaves the house permanently
DAWN ST CLAIR PHILLIPSSr Mortgage BankerNMLS 115936757-715-5733dawnphillipsatlanticbaycomatlanticbaycomdawnphillipscom
Did you knowYOU CAN USE A REVERSE MORTGAGE TO PURCHASE A HOME
ARE YOU CONSIDERING MOVING CLOSER TO YOUR FAMILY OR DOWNSIZING TO A HOME THAT BETTER SUITS YOUR NEEDSOR LOOKING TO STAY IN YOUR HOME AND NEED ADDITIONAL INCOME
PeninsulaREALTORreg Jan - Feb 2016page 20
PeninsulaREALTORreg Jan - Feb 2016page 21
PeninsulaREALTORreg Jan - Feb 2016page 22
The PeninsulaRealEstateSchoolby Jo Mcnamara Daly Director of Education amp Events
2016 Continuing Education Classes Location
VPAR Building 1001 North Campus Parkway
Hampton VA 23666 757-599-5222
Payment MUST be made at time of registration Register online at membersvparorg and click on Member Service Center to login or complete this form and fax to 757-596-3911 or email to jovparorg VPAR reserves the right to cancel a class if less than 10 people are registered 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 12 Tuesday July 12 Tuesday Feb 9 Tuesday Aug 9 Tuesday Mar 8 Tuesday Sept 13 Tuesday Apr 5 Tuesday Oct 11 Tuesday May 10 Tuesday Nov 8 Tuesday June 21 Tuesday Dec 6
All 8 Hour Classes are from 830 ammdash530 pm
Code of Ethics (Meets NAR Quadrennial Requirements) amp Code of Conduct
Fair Housing Legal Updates amp Emerging Trends (Law) Flood Insurance amp Flood Map Instruction Real Estate Contracts Real Estate Agency
8-HR Elective CE Class Dates
Thursday Feb 16 Tuesday Sept 20 Tuesday May 17 Tuesday Nov 15
Anti-Trust Disclosures Professionalism Safety Do-Nots
3-HR Code of Ethics Course
Thursday November 3rd from 1ndash 4 pm Thursday December 8th from 1-4 pm
More dates to be added soon Meets NAR Quadrennial Requirements
Peninsula Real Estate School owned and operated by
Virginia Peninsula Association of REALTORSreg
Registration Form
Name Company Address City State Zip Phone Email License ______ Exp Date _
Method of Payment
Check Invoice Office Visa MasterCard AMX Discover Card Name on Card ____________________________ Credit Card _____ Exp Date Signature _____ Name on Card _________________________ Amount Due (check appropriate box) 8-Hour Course VPAR Member $50 8-Hour Course Non-Member $60 3-Hour Ethics Course VPAR Member $30 3-Hour Ethics Course VPAR Non-Member $35
PeninsulaREALTORreg Jan - Feb 2016page 23
Chip Dicks VAR Legislative
Counsel
The Virginia Peninsula Association of REALTORSreg in cooperation with
The Virginia Association of REALTORSreg presentshellip
VRLTA Update with Chip Dicks
Get the information you need on the updatedVirginia Residential Landlord Tenant Act
Tuesday April 12th 2016 900 am ndash 400 pm
_________________
$12500 per member $13000 per non-member
Virginia Peninsula Association of REALTORSreg 1001 North Campus Parkway Hampton 23666
Sponsor LUNCH INCLUDED
VRLTA Update with Chip Dicks ndash April 12th 2016Pending REB Approval for 3 Hours Legal Update amp 3 Hours Real Estate Related CE
Pending REB Approval for 2 Hours of Current Industry IssuesTrends Course will be submitted for approval at the end of the general assembly session to include anyall changes in the VRLTA
NAME FIRM
ADDRESS
CITY STATE ZIP
PHONE E-MAIL
Method of PaymentCheck ____ Visa MasterCard____ Discover___ AMX____
Credit Card Exp date
Signature(Your signature indicates acceptance of VPAR registration policy and authorization of credit card charges)
Name on credit card_______________________________________
PLEASE RETURN TO VPAR AT FAX NUMBER 757-596-3911 MAIL TO VPAR 1001 North Campus Parkway Hampton VA 23666 or register online at membersvparorg
QUESTIONS CALL 757-599-5222Cancellations must be received within 48 hours of the event to receive full refund On-site registration fee is $135 Please notify us in advance if you have a disability that requires special services
bull Get up to speed on the recent changes to the Virginia Residential Landlord and Tenant Act
bull Designed for both real estate brokers and sales persons this course offers a detailed review of lease applications
bull A ldquohow tordquo guide for broker agent compliance bull The awareness and information you need to protect your
business
Approved for
6 hrs CE and 2 hrs PL Credit
PeninsulaREALTORreg Jan - Feb 2016page 24
REINMLScom ndash A Valuable Member Resource
This year REIN unveiled a new and improved REINMLScom website If you havenrsquot logged in yet please be sure to do so and take advantage of all the site has to offer
If you have never been to REINrsquos member website and are wondering what it offers think of it as a ldquohubrdquo to all things REIN‐related From REINMLScom you can access Fusion and Matrix find market statistics and graphs the current monthrsquos training calendar PDF copies of REINrsquos contracts and forms and much more You can even access your membership account to review and pay invoices online
The new mobile friendly website offers you a fresh look eye‐catching graphics and improved navigation that makes information easy to find Plus two great new featureshellip
A lsquoSYSTEM STATUSrsquo section has been added to the home page of the website to identify when REINrsquos MLS systems and programs are experiencing known issues such as updates service interruptions or down time
The second new feature is lsquoASK REINrsquo ndash a robust technical support module ASK REIN allows you to search online documentation that can help you troubleshoot commonly asked technical questions and if you canrsquot find the answers you are searching for then you can lsquoSubmit a Support Requestrsquo to REINrsquos Tech Support Department directly from the website
To access the full benefits of REINMLScom members must log into the site using their REIN ID and a password If you have not already done so please establish a password for this website by clicking on lsquoChangeForgot Passwordrsquo located next to the green Log In button in the top right corner of the screen Then check your email for a link to reset your password If you still cannot log into the site please contact REINrsquos Tech Support at 7575317901 or supportreininccom
Check it out today wwwREINMLScom
PeninsulaREALTORreg Jan - Feb 2016page 25
Scenes From Our January Social At BJrsquos at Tech Center amp February at UNOrsquos
THANKS TO OUR ALL SPONSORS MARES Exterminating AT BJrsquos andFidelity Bank Mortgage at UnOrsquos
Vpar SOCIAL HAPPENINGS
PeninsulaREALTORreg Jan - Feb 2016page 26
The Virginia Peninsula Association of REALTORSreg presentshellip
The Accredited Buyer Representative Designation
(Approved for 13HRS CE credit)
Instructor Pat Snyder
Accredited Buyer Representative Designation Course ndash April 7 amp 8 2016
NAME FIRM
ADDRESS MEMBER
CITY STATE ZIP
PHONE E-MAIL
Method of Payment Check
Credit Card Exp date
Signature (Your signature indicates acceptance of VPAR registration policy and authorization of credit card charges) Real Estate License Exp date
PLEASE RETURN TO VPAR AT FAX NUMBER 757-596-3911 MAIL TO VPAR 1001 North Campus Parkway Hampton VA 23666 or register online at membersvparorg
QUESTIONS CALL 757-599-5222 Cancellations must be received within 48- business hours of course to receive a refund Registrations are
non-transferable On-site late registration fee is $325 VPAR RESERVES THE RIGHT TO CANCEL THE COURSE IF MINIMUM REGISTRATIONS ARE NOT MET
Please notify us in advance if you have a disability that requires special services
Thursday amp Friday April 7 amp 8 2016 830 am ndash 500 pm
APRIL IS A SPECIAL DISCOUNT MONTH (REGULAR MEMBER RATE IS $295)
VPAR Headquarters Training Room A 1001 North Campus Parkway Hampton VA 23666 Early Bird Pricing before April 1 by NOON
Members $255 Non-Members $275
Register after Members $275 Non-Members $300
On-site registration fee is $325
PeninsulaREALTORreg Jan - Feb 2016page 27
VPAR Peninsula Partners include the following loyal firms who have stepped up to support VPARevents and education throughout the year This program reflects a commitment to provide REALTORreg
members with the best business environment while connecting to industry professionals whoprovide valuable products and services It is designed to create a unique partnership between
sponsors and the Association where both members and sponsors benefit greatly through the abilityto network exchange ideas and conduct business
PeninsulaREALTORreg Jan - Feb 2016page 28
VPAR Members Supporting Our Communities atThe Poquoson Neighborhood Food Distribution
for the Peninsula Food Bank
PeninsulaREALTORreg Jan - Feb 2016page 29
CONTACT A LOCAL LOAN OFFICER AT 1-877-573-2324gt KIMBERLY CRESS EXT 21238gt LASHEKA PEARSON-PARKER EXT 21210gt NATASHA THOMAS EXT 21104
Federally insured by NCUA 100 financing loans include an additional funding fee which may be financed up to the maximum loan amount Product features subject to approval copy 2016 Navy Federal NFCU 13490 (2-16)
THEYrsquoLL ENJOY
gt no application feegt 100 financing optionsgt up to 6 seller contribution allowed
HELP YOUR CLIENTS UNLOCK THE DOOR TO THEIR FIRST HOME
13490_Peninsula_Realtor_Mag_Ad_2_162indd 1 2416 202 PM
PeninsulaREALTORreg Jan - Feb 2016page 30
smile you can have 2-10 Home Buyers Warrantyreg
on your team with our industry leading Home
Warranty Service Agreement
bull Over 55 million homes protected
bull Over 975 of claims paid
bull A Rating with the Better Business Bureau (BBB)
Carolyn Ricketts Account Executive5716068051| cricketts2-10com
Defeated a 500 Increase We helped to defeat a budget amendment that would have increased the deductible that property owners including
YOUR clients pay to have their leaking underground oil tanks cleaned up and repaired by 500 The current $500 deductible was proposed to go up to $2500
The petroleum tank increase was a budget amendment
Prison time 1 to 6 years We added a felony charge to any criminal who lures or entices a REALTORreg to a property with the intent to do harm
The added felony will increase a criminalrsquos sentence by up to 6 years The 1-6 years are the statutory sentencing guidelines
Save $150 - $500hr on attorneysrsquo fees We continued to refine legislation that allows property managers to represent your clients in General District court
without needing an attorney So how much would your attorney charge per hour Typically attorney fees range from $150 - $500hr
$12000 back to consumers Under a new law that VAR drafted we have made it easier for Virginia consumers who have received a court judgment to
collect damages from the Real Estate Transaction Recovery Fund The average claim is approximately $12000 The $12000 figure is an estimate by the DPOR finance staff on the average claim that comes before the Board
Wiped out $200per Sign Fines We worked with a state legislator to prevent a proposal creating daily fines of $200 for any sign in any public right of
way How often do you use such signs for your listings 10 days for 1 sign = $2000 The $200 per sign was the language in the proposed bill VAR was able to stop
Keep RPAC of Virginia working for you Without your support RPAC cannot remain a powerful voice on key legislative issues Your dollars help us make our voice heard
Visit VirginiaRealtorsChoosecom
RPAC of VIRGINIA VICTORIES BY THE NUMBER$
RPAC makes a difference Just look at the numbers
PeninsulaREALTORreg Jan - Feb 2016page 32
January 2016 Virginia residential real estate sales showed typical industry seasonality January tends to be the slowest month for home sales and this year was particularly affected by catastrophic Winter Storm Jonas In spite of blizzard conditions that halted market activity for several days sales volume was nearly on par with the same month last year The value of transactions in January 2016 exceeded $174 billion an out performance of the previous January Median sales price rose 326 percent year-over-year and more than 7 per-cent from January 2014 Year-over-year elevation indicates sustainable market improvement Click here for the complete report httptinyurlcomj7k254s
Full service marketing amp innovative mobile platformsall designed with your business in mind
NMLS 176544 Member FDIC
MonarchWhere homebuying dreams take flight
PeninsulaREALTORreg Jan - Feb 2016page 33
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAIL
Featuring250 characters25 per lineEast WilmingtonRutherford Grand LakesArington Hills CoolidgeElrot Florence GilbertGold Canyon King andQueen Cedar CrestBristol Newport JacksonMadison ElbertvilleBarrowALL ACROSS NORTH AMERICA
THERealEstateBookreg
Volume 00 Issue 00
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAILTo see a sample listing on your smartphone Text T312634 to 85377
Learn more at RealEstateBookMediaKitcomFor FREE MAGAZINES or to ADVERTISE visit our website or call 800-841-3401
Bill McFallMarket Representative
The Market Leader in Hampton Roads VA amp North America
780 Pilot House Drive Building 400B Newport News VA 23606
office 757-873-6731 bull cell 757-286-6731 bull fax 757-273-8275email billmcfallcoxnet
wwwRealEstateBookHRcom
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Interested in advertising your company Click here for our 2016 Adverstising Information
or call us at 757-599-5222 today
PeninsulaREALTORreg Jan - Feb 2016page 34
The PeninsulaPerspective by Jim Wetzel RCE CEO
Nobody will ever deprive the American people of the right to vote except the American people themselves and the only way they could do this is by not voting
Franklin D Roosevelt
This past week I was honored to attend our REALTOR Legislative Meetings in Richmond VA together with our members arriving from all corners of the commonwealth We arrived with a common mission of taking our message to our legislators on the many ways we can improve the real estate industry and homeownership opportunities in our communities
With pride our members spoke of the improvements in the real estate indus-
try over the past year and highlighted our recommendations on how together REALTORS and our legislative partners can make things even better in the years ahead We highlighted important chang-es that we felt would make not only the industry better but the lives of all who call Virginia their home
We spoke together and our legislators listened We made a difference
On March 1st the process of selecting our next President of the United States begins We have listened to the debates been inundated by the media heard from the political commentators and heard the endorsements
Now it is time for us to speak We can make a difference one vote at a time
PeninsulaREALTORreg Jan - Feb 2016page 35
PeninsulaREALTORreg Jan - Feb 2016page 17
Risk ManagementREALTORSreg and RESPAby Blake Hegeman CAE Deputy General
We also need to be aware of another limita-tion imposed by Virginia law even when the labyrinth of RESPA has been negotiated The Virginia Mortgage Lender and Bro-ker Act provides in Section 61-422 that a person may not receive a fee as a mortgage broker and a real estate broker for services performed in the same transaction unless the person was licensed and regularly engaged in mortgage brokerage in Virginia as of Feb-ruary 1989 This resolution of a turf battle between mortgage and real estate brokers was weakened by a provision permitting real estate brokers (but not salespersons) who are owners of a real estate firm to own
an interest in a mortgage lender or broker and to profit from such investment and be compensated for services actually performed for those entities But the prohibition on dual brokerage fees to non-grandfathered persons persists
These are only a few examples from the veritable patchwork quilt of efforts to overcome RESPArsquos prohibition on referral fees Perhaps what Realtors need most to be aware of is that HUD approaches what it sees as RESPA violations with a fervent zeal displayed few other places If you are look-ing for a way to receive a fee for referring settlement business look for another way to make a buck If yoursquore willing to work le-gitimately for a service provider and get paid for the value of what you do -- and no more ndash there are opportunities out there awaiting
NEW Womens Council of REALTORSreg Coastal Chapter at VPAR
PeninsulaREALTORreg Jan - Feb 2016page 18
PeninsulaREALTORreg UPCOMING EVENTSby Jo McNamara Daly Director of education and events
Save The Dates
March 5th - OSC Awards Banquet at City Center
March 22nd - Lunch amp Learn SEO
April 12th - VRLTA Seminar with Chip Dicks
April 19th - General Membership Meeting at VPAR
May 9th - 14th - NAR Legisilative Conference in DC
PeninsulaREALTORreg Jan - Feb 2016page 19
Ready To Get StartedCONTACT ATLANTIC BAY TODAY
For examplehellip A borrower age 72 with a purchase price of $200000 would require ONLY $92000 at closing for the Reverse Mortgage
Homeowner continues to pay insurance and property taxes live in and maintain home Home must be primary residence Program not currently available in all states People portrayed are professional models and are used for illustrative purposes only Terms and conditions subject to change without notice Consult your tax advisor before choosing a reverse mortgage
Clients Mustbull Be 62 or older to qualify (at least one person-can have younger spouse as non-borrower to
qualify)
bull Own your home outright (or have a low mortgage balance that can be paid off at closing with proceeds from the reverse loan or have a large down payment to purchase)
bull Have the financial resources to pay ongoing property charges including taxes and insurance
bull Live in the home
You donrsquot make payments while you live in the house but the loan and interest come due when you sell move out for 12 months or more or last person leaves the house permanently
DAWN ST CLAIR PHILLIPSSr Mortgage BankerNMLS 115936757-715-5733dawnphillipsatlanticbaycomatlanticbaycomdawnphillipscom
Did you knowYOU CAN USE A REVERSE MORTGAGE TO PURCHASE A HOME
ARE YOU CONSIDERING MOVING CLOSER TO YOUR FAMILY OR DOWNSIZING TO A HOME THAT BETTER SUITS YOUR NEEDSOR LOOKING TO STAY IN YOUR HOME AND NEED ADDITIONAL INCOME
PeninsulaREALTORreg Jan - Feb 2016page 20
PeninsulaREALTORreg Jan - Feb 2016page 21
PeninsulaREALTORreg Jan - Feb 2016page 22
The PeninsulaRealEstateSchoolby Jo Mcnamara Daly Director of Education amp Events
2016 Continuing Education Classes Location
VPAR Building 1001 North Campus Parkway
Hampton VA 23666 757-599-5222
Payment MUST be made at time of registration Register online at membersvparorg and click on Member Service Center to login or complete this form and fax to 757-596-3911 or email to jovparorg VPAR reserves the right to cancel a class if less than 10 people are registered 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 12 Tuesday July 12 Tuesday Feb 9 Tuesday Aug 9 Tuesday Mar 8 Tuesday Sept 13 Tuesday Apr 5 Tuesday Oct 11 Tuesday May 10 Tuesday Nov 8 Tuesday June 21 Tuesday Dec 6
All 8 Hour Classes are from 830 ammdash530 pm
Code of Ethics (Meets NAR Quadrennial Requirements) amp Code of Conduct
Fair Housing Legal Updates amp Emerging Trends (Law) Flood Insurance amp Flood Map Instruction Real Estate Contracts Real Estate Agency
8-HR Elective CE Class Dates
Thursday Feb 16 Tuesday Sept 20 Tuesday May 17 Tuesday Nov 15
Anti-Trust Disclosures Professionalism Safety Do-Nots
3-HR Code of Ethics Course
Thursday November 3rd from 1ndash 4 pm Thursday December 8th from 1-4 pm
More dates to be added soon Meets NAR Quadrennial Requirements
Peninsula Real Estate School owned and operated by
Virginia Peninsula Association of REALTORSreg
Registration Form
Name Company Address City State Zip Phone Email License ______ Exp Date _
Method of Payment
Check Invoice Office Visa MasterCard AMX Discover Card Name on Card ____________________________ Credit Card _____ Exp Date Signature _____ Name on Card _________________________ Amount Due (check appropriate box) 8-Hour Course VPAR Member $50 8-Hour Course Non-Member $60 3-Hour Ethics Course VPAR Member $30 3-Hour Ethics Course VPAR Non-Member $35
PeninsulaREALTORreg Jan - Feb 2016page 23
Chip Dicks VAR Legislative
Counsel
The Virginia Peninsula Association of REALTORSreg in cooperation with
The Virginia Association of REALTORSreg presentshellip
VRLTA Update with Chip Dicks
Get the information you need on the updatedVirginia Residential Landlord Tenant Act
Tuesday April 12th 2016 900 am ndash 400 pm
_________________
$12500 per member $13000 per non-member
Virginia Peninsula Association of REALTORSreg 1001 North Campus Parkway Hampton 23666
Sponsor LUNCH INCLUDED
VRLTA Update with Chip Dicks ndash April 12th 2016Pending REB Approval for 3 Hours Legal Update amp 3 Hours Real Estate Related CE
Pending REB Approval for 2 Hours of Current Industry IssuesTrends Course will be submitted for approval at the end of the general assembly session to include anyall changes in the VRLTA
NAME FIRM
ADDRESS
CITY STATE ZIP
PHONE E-MAIL
Method of PaymentCheck ____ Visa MasterCard____ Discover___ AMX____
Credit Card Exp date
Signature(Your signature indicates acceptance of VPAR registration policy and authorization of credit card charges)
Name on credit card_______________________________________
PLEASE RETURN TO VPAR AT FAX NUMBER 757-596-3911 MAIL TO VPAR 1001 North Campus Parkway Hampton VA 23666 or register online at membersvparorg
QUESTIONS CALL 757-599-5222Cancellations must be received within 48 hours of the event to receive full refund On-site registration fee is $135 Please notify us in advance if you have a disability that requires special services
bull Get up to speed on the recent changes to the Virginia Residential Landlord and Tenant Act
bull Designed for both real estate brokers and sales persons this course offers a detailed review of lease applications
bull A ldquohow tordquo guide for broker agent compliance bull The awareness and information you need to protect your
business
Approved for
6 hrs CE and 2 hrs PL Credit
PeninsulaREALTORreg Jan - Feb 2016page 24
REINMLScom ndash A Valuable Member Resource
This year REIN unveiled a new and improved REINMLScom website If you havenrsquot logged in yet please be sure to do so and take advantage of all the site has to offer
If you have never been to REINrsquos member website and are wondering what it offers think of it as a ldquohubrdquo to all things REIN‐related From REINMLScom you can access Fusion and Matrix find market statistics and graphs the current monthrsquos training calendar PDF copies of REINrsquos contracts and forms and much more You can even access your membership account to review and pay invoices online
The new mobile friendly website offers you a fresh look eye‐catching graphics and improved navigation that makes information easy to find Plus two great new featureshellip
A lsquoSYSTEM STATUSrsquo section has been added to the home page of the website to identify when REINrsquos MLS systems and programs are experiencing known issues such as updates service interruptions or down time
The second new feature is lsquoASK REINrsquo ndash a robust technical support module ASK REIN allows you to search online documentation that can help you troubleshoot commonly asked technical questions and if you canrsquot find the answers you are searching for then you can lsquoSubmit a Support Requestrsquo to REINrsquos Tech Support Department directly from the website
To access the full benefits of REINMLScom members must log into the site using their REIN ID and a password If you have not already done so please establish a password for this website by clicking on lsquoChangeForgot Passwordrsquo located next to the green Log In button in the top right corner of the screen Then check your email for a link to reset your password If you still cannot log into the site please contact REINrsquos Tech Support at 7575317901 or supportreininccom
Check it out today wwwREINMLScom
PeninsulaREALTORreg Jan - Feb 2016page 25
Scenes From Our January Social At BJrsquos at Tech Center amp February at UNOrsquos
THANKS TO OUR ALL SPONSORS MARES Exterminating AT BJrsquos andFidelity Bank Mortgage at UnOrsquos
Vpar SOCIAL HAPPENINGS
PeninsulaREALTORreg Jan - Feb 2016page 26
The Virginia Peninsula Association of REALTORSreg presentshellip
The Accredited Buyer Representative Designation
(Approved for 13HRS CE credit)
Instructor Pat Snyder
Accredited Buyer Representative Designation Course ndash April 7 amp 8 2016
NAME FIRM
ADDRESS MEMBER
CITY STATE ZIP
PHONE E-MAIL
Method of Payment Check
Credit Card Exp date
Signature (Your signature indicates acceptance of VPAR registration policy and authorization of credit card charges) Real Estate License Exp date
PLEASE RETURN TO VPAR AT FAX NUMBER 757-596-3911 MAIL TO VPAR 1001 North Campus Parkway Hampton VA 23666 or register online at membersvparorg
QUESTIONS CALL 757-599-5222 Cancellations must be received within 48- business hours of course to receive a refund Registrations are
non-transferable On-site late registration fee is $325 VPAR RESERVES THE RIGHT TO CANCEL THE COURSE IF MINIMUM REGISTRATIONS ARE NOT MET
Please notify us in advance if you have a disability that requires special services
Thursday amp Friday April 7 amp 8 2016 830 am ndash 500 pm
APRIL IS A SPECIAL DISCOUNT MONTH (REGULAR MEMBER RATE IS $295)
VPAR Headquarters Training Room A 1001 North Campus Parkway Hampton VA 23666 Early Bird Pricing before April 1 by NOON
Members $255 Non-Members $275
Register after Members $275 Non-Members $300
On-site registration fee is $325
PeninsulaREALTORreg Jan - Feb 2016page 27
VPAR Peninsula Partners include the following loyal firms who have stepped up to support VPARevents and education throughout the year This program reflects a commitment to provide REALTORreg
members with the best business environment while connecting to industry professionals whoprovide valuable products and services It is designed to create a unique partnership between
sponsors and the Association where both members and sponsors benefit greatly through the abilityto network exchange ideas and conduct business
PeninsulaREALTORreg Jan - Feb 2016page 28
VPAR Members Supporting Our Communities atThe Poquoson Neighborhood Food Distribution
for the Peninsula Food Bank
PeninsulaREALTORreg Jan - Feb 2016page 29
CONTACT A LOCAL LOAN OFFICER AT 1-877-573-2324gt KIMBERLY CRESS EXT 21238gt LASHEKA PEARSON-PARKER EXT 21210gt NATASHA THOMAS EXT 21104
Federally insured by NCUA 100 financing loans include an additional funding fee which may be financed up to the maximum loan amount Product features subject to approval copy 2016 Navy Federal NFCU 13490 (2-16)
THEYrsquoLL ENJOY
gt no application feegt 100 financing optionsgt up to 6 seller contribution allowed
HELP YOUR CLIENTS UNLOCK THE DOOR TO THEIR FIRST HOME
13490_Peninsula_Realtor_Mag_Ad_2_162indd 1 2416 202 PM
PeninsulaREALTORreg Jan - Feb 2016page 30
smile you can have 2-10 Home Buyers Warrantyreg
on your team with our industry leading Home
Warranty Service Agreement
bull Over 55 million homes protected
bull Over 975 of claims paid
bull A Rating with the Better Business Bureau (BBB)
Carolyn Ricketts Account Executive5716068051| cricketts2-10com
Defeated a 500 Increase We helped to defeat a budget amendment that would have increased the deductible that property owners including
YOUR clients pay to have their leaking underground oil tanks cleaned up and repaired by 500 The current $500 deductible was proposed to go up to $2500
The petroleum tank increase was a budget amendment
Prison time 1 to 6 years We added a felony charge to any criminal who lures or entices a REALTORreg to a property with the intent to do harm
The added felony will increase a criminalrsquos sentence by up to 6 years The 1-6 years are the statutory sentencing guidelines
Save $150 - $500hr on attorneysrsquo fees We continued to refine legislation that allows property managers to represent your clients in General District court
without needing an attorney So how much would your attorney charge per hour Typically attorney fees range from $150 - $500hr
$12000 back to consumers Under a new law that VAR drafted we have made it easier for Virginia consumers who have received a court judgment to
collect damages from the Real Estate Transaction Recovery Fund The average claim is approximately $12000 The $12000 figure is an estimate by the DPOR finance staff on the average claim that comes before the Board
Wiped out $200per Sign Fines We worked with a state legislator to prevent a proposal creating daily fines of $200 for any sign in any public right of
way How often do you use such signs for your listings 10 days for 1 sign = $2000 The $200 per sign was the language in the proposed bill VAR was able to stop
Keep RPAC of Virginia working for you Without your support RPAC cannot remain a powerful voice on key legislative issues Your dollars help us make our voice heard
Visit VirginiaRealtorsChoosecom
RPAC of VIRGINIA VICTORIES BY THE NUMBER$
RPAC makes a difference Just look at the numbers
PeninsulaREALTORreg Jan - Feb 2016page 32
January 2016 Virginia residential real estate sales showed typical industry seasonality January tends to be the slowest month for home sales and this year was particularly affected by catastrophic Winter Storm Jonas In spite of blizzard conditions that halted market activity for several days sales volume was nearly on par with the same month last year The value of transactions in January 2016 exceeded $174 billion an out performance of the previous January Median sales price rose 326 percent year-over-year and more than 7 per-cent from January 2014 Year-over-year elevation indicates sustainable market improvement Click here for the complete report httptinyurlcomj7k254s
Full service marketing amp innovative mobile platformsall designed with your business in mind
NMLS 176544 Member FDIC
MonarchWhere homebuying dreams take flight
PeninsulaREALTORreg Jan - Feb 2016page 33
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAIL
Featuring250 characters25 per lineEast WilmingtonRutherford Grand LakesArington Hills CoolidgeElrot Florence GilbertGold Canyon King andQueen Cedar CrestBristol Newport JacksonMadison ElbertvilleBarrowALL ACROSS NORTH AMERICA
THERealEstateBookreg
Volume 00 Issue 00
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAILTo see a sample listing on your smartphone Text T312634 to 85377
Learn more at RealEstateBookMediaKitcomFor FREE MAGAZINES or to ADVERTISE visit our website or call 800-841-3401
Bill McFallMarket Representative
The Market Leader in Hampton Roads VA amp North America
780 Pilot House Drive Building 400B Newport News VA 23606
office 757-873-6731 bull cell 757-286-6731 bull fax 757-273-8275email billmcfallcoxnet
wwwRealEstateBookHRcom
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Interested in advertising your company Click here for our 2016 Adverstising Information
or call us at 757-599-5222 today
PeninsulaREALTORreg Jan - Feb 2016page 34
The PeninsulaPerspective by Jim Wetzel RCE CEO
Nobody will ever deprive the American people of the right to vote except the American people themselves and the only way they could do this is by not voting
Franklin D Roosevelt
This past week I was honored to attend our REALTOR Legislative Meetings in Richmond VA together with our members arriving from all corners of the commonwealth We arrived with a common mission of taking our message to our legislators on the many ways we can improve the real estate industry and homeownership opportunities in our communities
With pride our members spoke of the improvements in the real estate indus-
try over the past year and highlighted our recommendations on how together REALTORS and our legislative partners can make things even better in the years ahead We highlighted important chang-es that we felt would make not only the industry better but the lives of all who call Virginia their home
We spoke together and our legislators listened We made a difference
On March 1st the process of selecting our next President of the United States begins We have listened to the debates been inundated by the media heard from the political commentators and heard the endorsements
Now it is time for us to speak We can make a difference one vote at a time
PeninsulaREALTORreg Jan - Feb 2016page 35
PeninsulaREALTORreg Jan - Feb 2016page 18
PeninsulaREALTORreg UPCOMING EVENTSby Jo McNamara Daly Director of education and events
Save The Dates
March 5th - OSC Awards Banquet at City Center
March 22nd - Lunch amp Learn SEO
April 12th - VRLTA Seminar with Chip Dicks
April 19th - General Membership Meeting at VPAR
May 9th - 14th - NAR Legisilative Conference in DC
PeninsulaREALTORreg Jan - Feb 2016page 19
Ready To Get StartedCONTACT ATLANTIC BAY TODAY
For examplehellip A borrower age 72 with a purchase price of $200000 would require ONLY $92000 at closing for the Reverse Mortgage
Homeowner continues to pay insurance and property taxes live in and maintain home Home must be primary residence Program not currently available in all states People portrayed are professional models and are used for illustrative purposes only Terms and conditions subject to change without notice Consult your tax advisor before choosing a reverse mortgage
Clients Mustbull Be 62 or older to qualify (at least one person-can have younger spouse as non-borrower to
qualify)
bull Own your home outright (or have a low mortgage balance that can be paid off at closing with proceeds from the reverse loan or have a large down payment to purchase)
bull Have the financial resources to pay ongoing property charges including taxes and insurance
bull Live in the home
You donrsquot make payments while you live in the house but the loan and interest come due when you sell move out for 12 months or more or last person leaves the house permanently
DAWN ST CLAIR PHILLIPSSr Mortgage BankerNMLS 115936757-715-5733dawnphillipsatlanticbaycomatlanticbaycomdawnphillipscom
Did you knowYOU CAN USE A REVERSE MORTGAGE TO PURCHASE A HOME
ARE YOU CONSIDERING MOVING CLOSER TO YOUR FAMILY OR DOWNSIZING TO A HOME THAT BETTER SUITS YOUR NEEDSOR LOOKING TO STAY IN YOUR HOME AND NEED ADDITIONAL INCOME
PeninsulaREALTORreg Jan - Feb 2016page 20
PeninsulaREALTORreg Jan - Feb 2016page 21
PeninsulaREALTORreg Jan - Feb 2016page 22
The PeninsulaRealEstateSchoolby Jo Mcnamara Daly Director of Education amp Events
2016 Continuing Education Classes Location
VPAR Building 1001 North Campus Parkway
Hampton VA 23666 757-599-5222
Payment MUST be made at time of registration Register online at membersvparorg and click on Member Service Center to login or complete this form and fax to 757-596-3911 or email to jovparorg VPAR reserves the right to cancel a class if less than 10 people are registered 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 12 Tuesday July 12 Tuesday Feb 9 Tuesday Aug 9 Tuesday Mar 8 Tuesday Sept 13 Tuesday Apr 5 Tuesday Oct 11 Tuesday May 10 Tuesday Nov 8 Tuesday June 21 Tuesday Dec 6
All 8 Hour Classes are from 830 ammdash530 pm
Code of Ethics (Meets NAR Quadrennial Requirements) amp Code of Conduct
Fair Housing Legal Updates amp Emerging Trends (Law) Flood Insurance amp Flood Map Instruction Real Estate Contracts Real Estate Agency
8-HR Elective CE Class Dates
Thursday Feb 16 Tuesday Sept 20 Tuesday May 17 Tuesday Nov 15
Anti-Trust Disclosures Professionalism Safety Do-Nots
3-HR Code of Ethics Course
Thursday November 3rd from 1ndash 4 pm Thursday December 8th from 1-4 pm
More dates to be added soon Meets NAR Quadrennial Requirements
Peninsula Real Estate School owned and operated by
Virginia Peninsula Association of REALTORSreg
Registration Form
Name Company Address City State Zip Phone Email License ______ Exp Date _
Method of Payment
Check Invoice Office Visa MasterCard AMX Discover Card Name on Card ____________________________ Credit Card _____ Exp Date Signature _____ Name on Card _________________________ Amount Due (check appropriate box) 8-Hour Course VPAR Member $50 8-Hour Course Non-Member $60 3-Hour Ethics Course VPAR Member $30 3-Hour Ethics Course VPAR Non-Member $35
PeninsulaREALTORreg Jan - Feb 2016page 23
Chip Dicks VAR Legislative
Counsel
The Virginia Peninsula Association of REALTORSreg in cooperation with
The Virginia Association of REALTORSreg presentshellip
VRLTA Update with Chip Dicks
Get the information you need on the updatedVirginia Residential Landlord Tenant Act
Tuesday April 12th 2016 900 am ndash 400 pm
_________________
$12500 per member $13000 per non-member
Virginia Peninsula Association of REALTORSreg 1001 North Campus Parkway Hampton 23666
Sponsor LUNCH INCLUDED
VRLTA Update with Chip Dicks ndash April 12th 2016Pending REB Approval for 3 Hours Legal Update amp 3 Hours Real Estate Related CE
Pending REB Approval for 2 Hours of Current Industry IssuesTrends Course will be submitted for approval at the end of the general assembly session to include anyall changes in the VRLTA
NAME FIRM
ADDRESS
CITY STATE ZIP
PHONE E-MAIL
Method of PaymentCheck ____ Visa MasterCard____ Discover___ AMX____
Credit Card Exp date
Signature(Your signature indicates acceptance of VPAR registration policy and authorization of credit card charges)
Name on credit card_______________________________________
PLEASE RETURN TO VPAR AT FAX NUMBER 757-596-3911 MAIL TO VPAR 1001 North Campus Parkway Hampton VA 23666 or register online at membersvparorg
QUESTIONS CALL 757-599-5222Cancellations must be received within 48 hours of the event to receive full refund On-site registration fee is $135 Please notify us in advance if you have a disability that requires special services
bull Get up to speed on the recent changes to the Virginia Residential Landlord and Tenant Act
bull Designed for both real estate brokers and sales persons this course offers a detailed review of lease applications
bull A ldquohow tordquo guide for broker agent compliance bull The awareness and information you need to protect your
business
Approved for
6 hrs CE and 2 hrs PL Credit
PeninsulaREALTORreg Jan - Feb 2016page 24
REINMLScom ndash A Valuable Member Resource
This year REIN unveiled a new and improved REINMLScom website If you havenrsquot logged in yet please be sure to do so and take advantage of all the site has to offer
If you have never been to REINrsquos member website and are wondering what it offers think of it as a ldquohubrdquo to all things REIN‐related From REINMLScom you can access Fusion and Matrix find market statistics and graphs the current monthrsquos training calendar PDF copies of REINrsquos contracts and forms and much more You can even access your membership account to review and pay invoices online
The new mobile friendly website offers you a fresh look eye‐catching graphics and improved navigation that makes information easy to find Plus two great new featureshellip
A lsquoSYSTEM STATUSrsquo section has been added to the home page of the website to identify when REINrsquos MLS systems and programs are experiencing known issues such as updates service interruptions or down time
The second new feature is lsquoASK REINrsquo ndash a robust technical support module ASK REIN allows you to search online documentation that can help you troubleshoot commonly asked technical questions and if you canrsquot find the answers you are searching for then you can lsquoSubmit a Support Requestrsquo to REINrsquos Tech Support Department directly from the website
To access the full benefits of REINMLScom members must log into the site using their REIN ID and a password If you have not already done so please establish a password for this website by clicking on lsquoChangeForgot Passwordrsquo located next to the green Log In button in the top right corner of the screen Then check your email for a link to reset your password If you still cannot log into the site please contact REINrsquos Tech Support at 7575317901 or supportreininccom
Check it out today wwwREINMLScom
PeninsulaREALTORreg Jan - Feb 2016page 25
Scenes From Our January Social At BJrsquos at Tech Center amp February at UNOrsquos
THANKS TO OUR ALL SPONSORS MARES Exterminating AT BJrsquos andFidelity Bank Mortgage at UnOrsquos
Vpar SOCIAL HAPPENINGS
PeninsulaREALTORreg Jan - Feb 2016page 26
The Virginia Peninsula Association of REALTORSreg presentshellip
The Accredited Buyer Representative Designation
(Approved for 13HRS CE credit)
Instructor Pat Snyder
Accredited Buyer Representative Designation Course ndash April 7 amp 8 2016
NAME FIRM
ADDRESS MEMBER
CITY STATE ZIP
PHONE E-MAIL
Method of Payment Check
Credit Card Exp date
Signature (Your signature indicates acceptance of VPAR registration policy and authorization of credit card charges) Real Estate License Exp date
PLEASE RETURN TO VPAR AT FAX NUMBER 757-596-3911 MAIL TO VPAR 1001 North Campus Parkway Hampton VA 23666 or register online at membersvparorg
QUESTIONS CALL 757-599-5222 Cancellations must be received within 48- business hours of course to receive a refund Registrations are
non-transferable On-site late registration fee is $325 VPAR RESERVES THE RIGHT TO CANCEL THE COURSE IF MINIMUM REGISTRATIONS ARE NOT MET
Please notify us in advance if you have a disability that requires special services
Thursday amp Friday April 7 amp 8 2016 830 am ndash 500 pm
APRIL IS A SPECIAL DISCOUNT MONTH (REGULAR MEMBER RATE IS $295)
VPAR Headquarters Training Room A 1001 North Campus Parkway Hampton VA 23666 Early Bird Pricing before April 1 by NOON
Members $255 Non-Members $275
Register after Members $275 Non-Members $300
On-site registration fee is $325
PeninsulaREALTORreg Jan - Feb 2016page 27
VPAR Peninsula Partners include the following loyal firms who have stepped up to support VPARevents and education throughout the year This program reflects a commitment to provide REALTORreg
members with the best business environment while connecting to industry professionals whoprovide valuable products and services It is designed to create a unique partnership between
sponsors and the Association where both members and sponsors benefit greatly through the abilityto network exchange ideas and conduct business
PeninsulaREALTORreg Jan - Feb 2016page 28
VPAR Members Supporting Our Communities atThe Poquoson Neighborhood Food Distribution
for the Peninsula Food Bank
PeninsulaREALTORreg Jan - Feb 2016page 29
CONTACT A LOCAL LOAN OFFICER AT 1-877-573-2324gt KIMBERLY CRESS EXT 21238gt LASHEKA PEARSON-PARKER EXT 21210gt NATASHA THOMAS EXT 21104
Federally insured by NCUA 100 financing loans include an additional funding fee which may be financed up to the maximum loan amount Product features subject to approval copy 2016 Navy Federal NFCU 13490 (2-16)
THEYrsquoLL ENJOY
gt no application feegt 100 financing optionsgt up to 6 seller contribution allowed
HELP YOUR CLIENTS UNLOCK THE DOOR TO THEIR FIRST HOME
13490_Peninsula_Realtor_Mag_Ad_2_162indd 1 2416 202 PM
PeninsulaREALTORreg Jan - Feb 2016page 30
smile you can have 2-10 Home Buyers Warrantyreg
on your team with our industry leading Home
Warranty Service Agreement
bull Over 55 million homes protected
bull Over 975 of claims paid
bull A Rating with the Better Business Bureau (BBB)
Carolyn Ricketts Account Executive5716068051| cricketts2-10com
Defeated a 500 Increase We helped to defeat a budget amendment that would have increased the deductible that property owners including
YOUR clients pay to have their leaking underground oil tanks cleaned up and repaired by 500 The current $500 deductible was proposed to go up to $2500
The petroleum tank increase was a budget amendment
Prison time 1 to 6 years We added a felony charge to any criminal who lures or entices a REALTORreg to a property with the intent to do harm
The added felony will increase a criminalrsquos sentence by up to 6 years The 1-6 years are the statutory sentencing guidelines
Save $150 - $500hr on attorneysrsquo fees We continued to refine legislation that allows property managers to represent your clients in General District court
without needing an attorney So how much would your attorney charge per hour Typically attorney fees range from $150 - $500hr
$12000 back to consumers Under a new law that VAR drafted we have made it easier for Virginia consumers who have received a court judgment to
collect damages from the Real Estate Transaction Recovery Fund The average claim is approximately $12000 The $12000 figure is an estimate by the DPOR finance staff on the average claim that comes before the Board
Wiped out $200per Sign Fines We worked with a state legislator to prevent a proposal creating daily fines of $200 for any sign in any public right of
way How often do you use such signs for your listings 10 days for 1 sign = $2000 The $200 per sign was the language in the proposed bill VAR was able to stop
Keep RPAC of Virginia working for you Without your support RPAC cannot remain a powerful voice on key legislative issues Your dollars help us make our voice heard
Visit VirginiaRealtorsChoosecom
RPAC of VIRGINIA VICTORIES BY THE NUMBER$
RPAC makes a difference Just look at the numbers
PeninsulaREALTORreg Jan - Feb 2016page 32
January 2016 Virginia residential real estate sales showed typical industry seasonality January tends to be the slowest month for home sales and this year was particularly affected by catastrophic Winter Storm Jonas In spite of blizzard conditions that halted market activity for several days sales volume was nearly on par with the same month last year The value of transactions in January 2016 exceeded $174 billion an out performance of the previous January Median sales price rose 326 percent year-over-year and more than 7 per-cent from January 2014 Year-over-year elevation indicates sustainable market improvement Click here for the complete report httptinyurlcomj7k254s
Full service marketing amp innovative mobile platformsall designed with your business in mind
NMLS 176544 Member FDIC
MonarchWhere homebuying dreams take flight
PeninsulaREALTORreg Jan - Feb 2016page 33
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAIL
Featuring250 characters25 per lineEast WilmingtonRutherford Grand LakesArington Hills CoolidgeElrot Florence GilbertGold Canyon King andQueen Cedar CrestBristol Newport JacksonMadison ElbertvilleBarrowALL ACROSS NORTH AMERICA
THERealEstateBookreg
Volume 00 Issue 00
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAILTo see a sample listing on your smartphone Text T312634 to 85377
Learn more at RealEstateBookMediaKitcomFor FREE MAGAZINES or to ADVERTISE visit our website or call 800-841-3401
Bill McFallMarket Representative
The Market Leader in Hampton Roads VA amp North America
780 Pilot House Drive Building 400B Newport News VA 23606
office 757-873-6731 bull cell 757-286-6731 bull fax 757-273-8275email billmcfallcoxnet
wwwRealEstateBookHRcom
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Interested in advertising your company Click here for our 2016 Adverstising Information
or call us at 757-599-5222 today
PeninsulaREALTORreg Jan - Feb 2016page 34
The PeninsulaPerspective by Jim Wetzel RCE CEO
Nobody will ever deprive the American people of the right to vote except the American people themselves and the only way they could do this is by not voting
Franklin D Roosevelt
This past week I was honored to attend our REALTOR Legislative Meetings in Richmond VA together with our members arriving from all corners of the commonwealth We arrived with a common mission of taking our message to our legislators on the many ways we can improve the real estate industry and homeownership opportunities in our communities
With pride our members spoke of the improvements in the real estate indus-
try over the past year and highlighted our recommendations on how together REALTORS and our legislative partners can make things even better in the years ahead We highlighted important chang-es that we felt would make not only the industry better but the lives of all who call Virginia their home
We spoke together and our legislators listened We made a difference
On March 1st the process of selecting our next President of the United States begins We have listened to the debates been inundated by the media heard from the political commentators and heard the endorsements
Now it is time for us to speak We can make a difference one vote at a time
PeninsulaREALTORreg Jan - Feb 2016page 35
PeninsulaREALTORreg Jan - Feb 2016page 19
Ready To Get StartedCONTACT ATLANTIC BAY TODAY
For examplehellip A borrower age 72 with a purchase price of $200000 would require ONLY $92000 at closing for the Reverse Mortgage
Homeowner continues to pay insurance and property taxes live in and maintain home Home must be primary residence Program not currently available in all states People portrayed are professional models and are used for illustrative purposes only Terms and conditions subject to change without notice Consult your tax advisor before choosing a reverse mortgage
Clients Mustbull Be 62 or older to qualify (at least one person-can have younger spouse as non-borrower to
qualify)
bull Own your home outright (or have a low mortgage balance that can be paid off at closing with proceeds from the reverse loan or have a large down payment to purchase)
bull Have the financial resources to pay ongoing property charges including taxes and insurance
bull Live in the home
You donrsquot make payments while you live in the house but the loan and interest come due when you sell move out for 12 months or more or last person leaves the house permanently
DAWN ST CLAIR PHILLIPSSr Mortgage BankerNMLS 115936757-715-5733dawnphillipsatlanticbaycomatlanticbaycomdawnphillipscom
Did you knowYOU CAN USE A REVERSE MORTGAGE TO PURCHASE A HOME
ARE YOU CONSIDERING MOVING CLOSER TO YOUR FAMILY OR DOWNSIZING TO A HOME THAT BETTER SUITS YOUR NEEDSOR LOOKING TO STAY IN YOUR HOME AND NEED ADDITIONAL INCOME
PeninsulaREALTORreg Jan - Feb 2016page 20
PeninsulaREALTORreg Jan - Feb 2016page 21
PeninsulaREALTORreg Jan - Feb 2016page 22
The PeninsulaRealEstateSchoolby Jo Mcnamara Daly Director of Education amp Events
2016 Continuing Education Classes Location
VPAR Building 1001 North Campus Parkway
Hampton VA 23666 757-599-5222
Payment MUST be made at time of registration Register online at membersvparorg and click on Member Service Center to login or complete this form and fax to 757-596-3911 or email to jovparorg VPAR reserves the right to cancel a class if less than 10 people are registered 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 12 Tuesday July 12 Tuesday Feb 9 Tuesday Aug 9 Tuesday Mar 8 Tuesday Sept 13 Tuesday Apr 5 Tuesday Oct 11 Tuesday May 10 Tuesday Nov 8 Tuesday June 21 Tuesday Dec 6
All 8 Hour Classes are from 830 ammdash530 pm
Code of Ethics (Meets NAR Quadrennial Requirements) amp Code of Conduct
Fair Housing Legal Updates amp Emerging Trends (Law) Flood Insurance amp Flood Map Instruction Real Estate Contracts Real Estate Agency
8-HR Elective CE Class Dates
Thursday Feb 16 Tuesday Sept 20 Tuesday May 17 Tuesday Nov 15
Anti-Trust Disclosures Professionalism Safety Do-Nots
3-HR Code of Ethics Course
Thursday November 3rd from 1ndash 4 pm Thursday December 8th from 1-4 pm
More dates to be added soon Meets NAR Quadrennial Requirements
Peninsula Real Estate School owned and operated by
Virginia Peninsula Association of REALTORSreg
Registration Form
Name Company Address City State Zip Phone Email License ______ Exp Date _
Method of Payment
Check Invoice Office Visa MasterCard AMX Discover Card Name on Card ____________________________ Credit Card _____ Exp Date Signature _____ Name on Card _________________________ Amount Due (check appropriate box) 8-Hour Course VPAR Member $50 8-Hour Course Non-Member $60 3-Hour Ethics Course VPAR Member $30 3-Hour Ethics Course VPAR Non-Member $35
PeninsulaREALTORreg Jan - Feb 2016page 23
Chip Dicks VAR Legislative
Counsel
The Virginia Peninsula Association of REALTORSreg in cooperation with
The Virginia Association of REALTORSreg presentshellip
VRLTA Update with Chip Dicks
Get the information you need on the updatedVirginia Residential Landlord Tenant Act
Tuesday April 12th 2016 900 am ndash 400 pm
_________________
$12500 per member $13000 per non-member
Virginia Peninsula Association of REALTORSreg 1001 North Campus Parkway Hampton 23666
Sponsor LUNCH INCLUDED
VRLTA Update with Chip Dicks ndash April 12th 2016Pending REB Approval for 3 Hours Legal Update amp 3 Hours Real Estate Related CE
Pending REB Approval for 2 Hours of Current Industry IssuesTrends Course will be submitted for approval at the end of the general assembly session to include anyall changes in the VRLTA
NAME FIRM
ADDRESS
CITY STATE ZIP
PHONE E-MAIL
Method of PaymentCheck ____ Visa MasterCard____ Discover___ AMX____
Credit Card Exp date
Signature(Your signature indicates acceptance of VPAR registration policy and authorization of credit card charges)
Name on credit card_______________________________________
PLEASE RETURN TO VPAR AT FAX NUMBER 757-596-3911 MAIL TO VPAR 1001 North Campus Parkway Hampton VA 23666 or register online at membersvparorg
QUESTIONS CALL 757-599-5222Cancellations must be received within 48 hours of the event to receive full refund On-site registration fee is $135 Please notify us in advance if you have a disability that requires special services
bull Get up to speed on the recent changes to the Virginia Residential Landlord and Tenant Act
bull Designed for both real estate brokers and sales persons this course offers a detailed review of lease applications
bull A ldquohow tordquo guide for broker agent compliance bull The awareness and information you need to protect your
business
Approved for
6 hrs CE and 2 hrs PL Credit
PeninsulaREALTORreg Jan - Feb 2016page 24
REINMLScom ndash A Valuable Member Resource
This year REIN unveiled a new and improved REINMLScom website If you havenrsquot logged in yet please be sure to do so and take advantage of all the site has to offer
If you have never been to REINrsquos member website and are wondering what it offers think of it as a ldquohubrdquo to all things REIN‐related From REINMLScom you can access Fusion and Matrix find market statistics and graphs the current monthrsquos training calendar PDF copies of REINrsquos contracts and forms and much more You can even access your membership account to review and pay invoices online
The new mobile friendly website offers you a fresh look eye‐catching graphics and improved navigation that makes information easy to find Plus two great new featureshellip
A lsquoSYSTEM STATUSrsquo section has been added to the home page of the website to identify when REINrsquos MLS systems and programs are experiencing known issues such as updates service interruptions or down time
The second new feature is lsquoASK REINrsquo ndash a robust technical support module ASK REIN allows you to search online documentation that can help you troubleshoot commonly asked technical questions and if you canrsquot find the answers you are searching for then you can lsquoSubmit a Support Requestrsquo to REINrsquos Tech Support Department directly from the website
To access the full benefits of REINMLScom members must log into the site using their REIN ID and a password If you have not already done so please establish a password for this website by clicking on lsquoChangeForgot Passwordrsquo located next to the green Log In button in the top right corner of the screen Then check your email for a link to reset your password If you still cannot log into the site please contact REINrsquos Tech Support at 7575317901 or supportreininccom
Check it out today wwwREINMLScom
PeninsulaREALTORreg Jan - Feb 2016page 25
Scenes From Our January Social At BJrsquos at Tech Center amp February at UNOrsquos
THANKS TO OUR ALL SPONSORS MARES Exterminating AT BJrsquos andFidelity Bank Mortgage at UnOrsquos
Vpar SOCIAL HAPPENINGS
PeninsulaREALTORreg Jan - Feb 2016page 26
The Virginia Peninsula Association of REALTORSreg presentshellip
The Accredited Buyer Representative Designation
(Approved for 13HRS CE credit)
Instructor Pat Snyder
Accredited Buyer Representative Designation Course ndash April 7 amp 8 2016
NAME FIRM
ADDRESS MEMBER
CITY STATE ZIP
PHONE E-MAIL
Method of Payment Check
Credit Card Exp date
Signature (Your signature indicates acceptance of VPAR registration policy and authorization of credit card charges) Real Estate License Exp date
PLEASE RETURN TO VPAR AT FAX NUMBER 757-596-3911 MAIL TO VPAR 1001 North Campus Parkway Hampton VA 23666 or register online at membersvparorg
QUESTIONS CALL 757-599-5222 Cancellations must be received within 48- business hours of course to receive a refund Registrations are
non-transferable On-site late registration fee is $325 VPAR RESERVES THE RIGHT TO CANCEL THE COURSE IF MINIMUM REGISTRATIONS ARE NOT MET
Please notify us in advance if you have a disability that requires special services
Thursday amp Friday April 7 amp 8 2016 830 am ndash 500 pm
APRIL IS A SPECIAL DISCOUNT MONTH (REGULAR MEMBER RATE IS $295)
VPAR Headquarters Training Room A 1001 North Campus Parkway Hampton VA 23666 Early Bird Pricing before April 1 by NOON
Members $255 Non-Members $275
Register after Members $275 Non-Members $300
On-site registration fee is $325
PeninsulaREALTORreg Jan - Feb 2016page 27
VPAR Peninsula Partners include the following loyal firms who have stepped up to support VPARevents and education throughout the year This program reflects a commitment to provide REALTORreg
members with the best business environment while connecting to industry professionals whoprovide valuable products and services It is designed to create a unique partnership between
sponsors and the Association where both members and sponsors benefit greatly through the abilityto network exchange ideas and conduct business
PeninsulaREALTORreg Jan - Feb 2016page 28
VPAR Members Supporting Our Communities atThe Poquoson Neighborhood Food Distribution
for the Peninsula Food Bank
PeninsulaREALTORreg Jan - Feb 2016page 29
CONTACT A LOCAL LOAN OFFICER AT 1-877-573-2324gt KIMBERLY CRESS EXT 21238gt LASHEKA PEARSON-PARKER EXT 21210gt NATASHA THOMAS EXT 21104
Federally insured by NCUA 100 financing loans include an additional funding fee which may be financed up to the maximum loan amount Product features subject to approval copy 2016 Navy Federal NFCU 13490 (2-16)
THEYrsquoLL ENJOY
gt no application feegt 100 financing optionsgt up to 6 seller contribution allowed
HELP YOUR CLIENTS UNLOCK THE DOOR TO THEIR FIRST HOME
13490_Peninsula_Realtor_Mag_Ad_2_162indd 1 2416 202 PM
PeninsulaREALTORreg Jan - Feb 2016page 30
smile you can have 2-10 Home Buyers Warrantyreg
on your team with our industry leading Home
Warranty Service Agreement
bull Over 55 million homes protected
bull Over 975 of claims paid
bull A Rating with the Better Business Bureau (BBB)
Carolyn Ricketts Account Executive5716068051| cricketts2-10com
Defeated a 500 Increase We helped to defeat a budget amendment that would have increased the deductible that property owners including
YOUR clients pay to have their leaking underground oil tanks cleaned up and repaired by 500 The current $500 deductible was proposed to go up to $2500
The petroleum tank increase was a budget amendment
Prison time 1 to 6 years We added a felony charge to any criminal who lures or entices a REALTORreg to a property with the intent to do harm
The added felony will increase a criminalrsquos sentence by up to 6 years The 1-6 years are the statutory sentencing guidelines
Save $150 - $500hr on attorneysrsquo fees We continued to refine legislation that allows property managers to represent your clients in General District court
without needing an attorney So how much would your attorney charge per hour Typically attorney fees range from $150 - $500hr
$12000 back to consumers Under a new law that VAR drafted we have made it easier for Virginia consumers who have received a court judgment to
collect damages from the Real Estate Transaction Recovery Fund The average claim is approximately $12000 The $12000 figure is an estimate by the DPOR finance staff on the average claim that comes before the Board
Wiped out $200per Sign Fines We worked with a state legislator to prevent a proposal creating daily fines of $200 for any sign in any public right of
way How often do you use such signs for your listings 10 days for 1 sign = $2000 The $200 per sign was the language in the proposed bill VAR was able to stop
Keep RPAC of Virginia working for you Without your support RPAC cannot remain a powerful voice on key legislative issues Your dollars help us make our voice heard
Visit VirginiaRealtorsChoosecom
RPAC of VIRGINIA VICTORIES BY THE NUMBER$
RPAC makes a difference Just look at the numbers
PeninsulaREALTORreg Jan - Feb 2016page 32
January 2016 Virginia residential real estate sales showed typical industry seasonality January tends to be the slowest month for home sales and this year was particularly affected by catastrophic Winter Storm Jonas In spite of blizzard conditions that halted market activity for several days sales volume was nearly on par with the same month last year The value of transactions in January 2016 exceeded $174 billion an out performance of the previous January Median sales price rose 326 percent year-over-year and more than 7 per-cent from January 2014 Year-over-year elevation indicates sustainable market improvement Click here for the complete report httptinyurlcomj7k254s
Full service marketing amp innovative mobile platformsall designed with your business in mind
NMLS 176544 Member FDIC
MonarchWhere homebuying dreams take flight
PeninsulaREALTORreg Jan - Feb 2016page 33
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAIL
Featuring250 characters25 per lineEast WilmingtonRutherford Grand LakesArington Hills CoolidgeElrot Florence GilbertGold Canyon King andQueen Cedar CrestBristol Newport JacksonMadison ElbertvilleBarrowALL ACROSS NORTH AMERICA
THERealEstateBookreg
Volume 00 Issue 00
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAILTo see a sample listing on your smartphone Text T312634 to 85377
Learn more at RealEstateBookMediaKitcomFor FREE MAGAZINES or to ADVERTISE visit our website or call 800-841-3401
Bill McFallMarket Representative
The Market Leader in Hampton Roads VA amp North America
780 Pilot House Drive Building 400B Newport News VA 23606
office 757-873-6731 bull cell 757-286-6731 bull fax 757-273-8275email billmcfallcoxnet
wwwRealEstateBookHRcom
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Interested in advertising your company Click here for our 2016 Adverstising Information
or call us at 757-599-5222 today
PeninsulaREALTORreg Jan - Feb 2016page 34
The PeninsulaPerspective by Jim Wetzel RCE CEO
Nobody will ever deprive the American people of the right to vote except the American people themselves and the only way they could do this is by not voting
Franklin D Roosevelt
This past week I was honored to attend our REALTOR Legislative Meetings in Richmond VA together with our members arriving from all corners of the commonwealth We arrived with a common mission of taking our message to our legislators on the many ways we can improve the real estate industry and homeownership opportunities in our communities
With pride our members spoke of the improvements in the real estate indus-
try over the past year and highlighted our recommendations on how together REALTORS and our legislative partners can make things even better in the years ahead We highlighted important chang-es that we felt would make not only the industry better but the lives of all who call Virginia their home
We spoke together and our legislators listened We made a difference
On March 1st the process of selecting our next President of the United States begins We have listened to the debates been inundated by the media heard from the political commentators and heard the endorsements
Now it is time for us to speak We can make a difference one vote at a time
PeninsulaREALTORreg Jan - Feb 2016page 35
PeninsulaREALTORreg Jan - Feb 2016page 20
PeninsulaREALTORreg Jan - Feb 2016page 21
PeninsulaREALTORreg Jan - Feb 2016page 22
The PeninsulaRealEstateSchoolby Jo Mcnamara Daly Director of Education amp Events
2016 Continuing Education Classes Location
VPAR Building 1001 North Campus Parkway
Hampton VA 23666 757-599-5222
Payment MUST be made at time of registration Register online at membersvparorg and click on Member Service Center to login or complete this form and fax to 757-596-3911 or email to jovparorg VPAR reserves the right to cancel a class if less than 10 people are registered 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 12 Tuesday July 12 Tuesday Feb 9 Tuesday Aug 9 Tuesday Mar 8 Tuesday Sept 13 Tuesday Apr 5 Tuesday Oct 11 Tuesday May 10 Tuesday Nov 8 Tuesday June 21 Tuesday Dec 6
All 8 Hour Classes are from 830 ammdash530 pm
Code of Ethics (Meets NAR Quadrennial Requirements) amp Code of Conduct
Fair Housing Legal Updates amp Emerging Trends (Law) Flood Insurance amp Flood Map Instruction Real Estate Contracts Real Estate Agency
8-HR Elective CE Class Dates
Thursday Feb 16 Tuesday Sept 20 Tuesday May 17 Tuesday Nov 15
Anti-Trust Disclosures Professionalism Safety Do-Nots
3-HR Code of Ethics Course
Thursday November 3rd from 1ndash 4 pm Thursday December 8th from 1-4 pm
More dates to be added soon Meets NAR Quadrennial Requirements
Peninsula Real Estate School owned and operated by
Virginia Peninsula Association of REALTORSreg
Registration Form
Name Company Address City State Zip Phone Email License ______ Exp Date _
Method of Payment
Check Invoice Office Visa MasterCard AMX Discover Card Name on Card ____________________________ Credit Card _____ Exp Date Signature _____ Name on Card _________________________ Amount Due (check appropriate box) 8-Hour Course VPAR Member $50 8-Hour Course Non-Member $60 3-Hour Ethics Course VPAR Member $30 3-Hour Ethics Course VPAR Non-Member $35
PeninsulaREALTORreg Jan - Feb 2016page 23
Chip Dicks VAR Legislative
Counsel
The Virginia Peninsula Association of REALTORSreg in cooperation with
The Virginia Association of REALTORSreg presentshellip
VRLTA Update with Chip Dicks
Get the information you need on the updatedVirginia Residential Landlord Tenant Act
Tuesday April 12th 2016 900 am ndash 400 pm
_________________
$12500 per member $13000 per non-member
Virginia Peninsula Association of REALTORSreg 1001 North Campus Parkway Hampton 23666
Sponsor LUNCH INCLUDED
VRLTA Update with Chip Dicks ndash April 12th 2016Pending REB Approval for 3 Hours Legal Update amp 3 Hours Real Estate Related CE
Pending REB Approval for 2 Hours of Current Industry IssuesTrends Course will be submitted for approval at the end of the general assembly session to include anyall changes in the VRLTA
NAME FIRM
ADDRESS
CITY STATE ZIP
PHONE E-MAIL
Method of PaymentCheck ____ Visa MasterCard____ Discover___ AMX____
Credit Card Exp date
Signature(Your signature indicates acceptance of VPAR registration policy and authorization of credit card charges)
Name on credit card_______________________________________
PLEASE RETURN TO VPAR AT FAX NUMBER 757-596-3911 MAIL TO VPAR 1001 North Campus Parkway Hampton VA 23666 or register online at membersvparorg
QUESTIONS CALL 757-599-5222Cancellations must be received within 48 hours of the event to receive full refund On-site registration fee is $135 Please notify us in advance if you have a disability that requires special services
bull Get up to speed on the recent changes to the Virginia Residential Landlord and Tenant Act
bull Designed for both real estate brokers and sales persons this course offers a detailed review of lease applications
bull A ldquohow tordquo guide for broker agent compliance bull The awareness and information you need to protect your
business
Approved for
6 hrs CE and 2 hrs PL Credit
PeninsulaREALTORreg Jan - Feb 2016page 24
REINMLScom ndash A Valuable Member Resource
This year REIN unveiled a new and improved REINMLScom website If you havenrsquot logged in yet please be sure to do so and take advantage of all the site has to offer
If you have never been to REINrsquos member website and are wondering what it offers think of it as a ldquohubrdquo to all things REIN‐related From REINMLScom you can access Fusion and Matrix find market statistics and graphs the current monthrsquos training calendar PDF copies of REINrsquos contracts and forms and much more You can even access your membership account to review and pay invoices online
The new mobile friendly website offers you a fresh look eye‐catching graphics and improved navigation that makes information easy to find Plus two great new featureshellip
A lsquoSYSTEM STATUSrsquo section has been added to the home page of the website to identify when REINrsquos MLS systems and programs are experiencing known issues such as updates service interruptions or down time
The second new feature is lsquoASK REINrsquo ndash a robust technical support module ASK REIN allows you to search online documentation that can help you troubleshoot commonly asked technical questions and if you canrsquot find the answers you are searching for then you can lsquoSubmit a Support Requestrsquo to REINrsquos Tech Support Department directly from the website
To access the full benefits of REINMLScom members must log into the site using their REIN ID and a password If you have not already done so please establish a password for this website by clicking on lsquoChangeForgot Passwordrsquo located next to the green Log In button in the top right corner of the screen Then check your email for a link to reset your password If you still cannot log into the site please contact REINrsquos Tech Support at 7575317901 or supportreininccom
Check it out today wwwREINMLScom
PeninsulaREALTORreg Jan - Feb 2016page 25
Scenes From Our January Social At BJrsquos at Tech Center amp February at UNOrsquos
THANKS TO OUR ALL SPONSORS MARES Exterminating AT BJrsquos andFidelity Bank Mortgage at UnOrsquos
Vpar SOCIAL HAPPENINGS
PeninsulaREALTORreg Jan - Feb 2016page 26
The Virginia Peninsula Association of REALTORSreg presentshellip
The Accredited Buyer Representative Designation
(Approved for 13HRS CE credit)
Instructor Pat Snyder
Accredited Buyer Representative Designation Course ndash April 7 amp 8 2016
NAME FIRM
ADDRESS MEMBER
CITY STATE ZIP
PHONE E-MAIL
Method of Payment Check
Credit Card Exp date
Signature (Your signature indicates acceptance of VPAR registration policy and authorization of credit card charges) Real Estate License Exp date
PLEASE RETURN TO VPAR AT FAX NUMBER 757-596-3911 MAIL TO VPAR 1001 North Campus Parkway Hampton VA 23666 or register online at membersvparorg
QUESTIONS CALL 757-599-5222 Cancellations must be received within 48- business hours of course to receive a refund Registrations are
non-transferable On-site late registration fee is $325 VPAR RESERVES THE RIGHT TO CANCEL THE COURSE IF MINIMUM REGISTRATIONS ARE NOT MET
Please notify us in advance if you have a disability that requires special services
Thursday amp Friday April 7 amp 8 2016 830 am ndash 500 pm
APRIL IS A SPECIAL DISCOUNT MONTH (REGULAR MEMBER RATE IS $295)
VPAR Headquarters Training Room A 1001 North Campus Parkway Hampton VA 23666 Early Bird Pricing before April 1 by NOON
Members $255 Non-Members $275
Register after Members $275 Non-Members $300
On-site registration fee is $325
PeninsulaREALTORreg Jan - Feb 2016page 27
VPAR Peninsula Partners include the following loyal firms who have stepped up to support VPARevents and education throughout the year This program reflects a commitment to provide REALTORreg
members with the best business environment while connecting to industry professionals whoprovide valuable products and services It is designed to create a unique partnership between
sponsors and the Association where both members and sponsors benefit greatly through the abilityto network exchange ideas and conduct business
PeninsulaREALTORreg Jan - Feb 2016page 28
VPAR Members Supporting Our Communities atThe Poquoson Neighborhood Food Distribution
for the Peninsula Food Bank
PeninsulaREALTORreg Jan - Feb 2016page 29
CONTACT A LOCAL LOAN OFFICER AT 1-877-573-2324gt KIMBERLY CRESS EXT 21238gt LASHEKA PEARSON-PARKER EXT 21210gt NATASHA THOMAS EXT 21104
Federally insured by NCUA 100 financing loans include an additional funding fee which may be financed up to the maximum loan amount Product features subject to approval copy 2016 Navy Federal NFCU 13490 (2-16)
THEYrsquoLL ENJOY
gt no application feegt 100 financing optionsgt up to 6 seller contribution allowed
HELP YOUR CLIENTS UNLOCK THE DOOR TO THEIR FIRST HOME
13490_Peninsula_Realtor_Mag_Ad_2_162indd 1 2416 202 PM
PeninsulaREALTORreg Jan - Feb 2016page 30
smile you can have 2-10 Home Buyers Warrantyreg
on your team with our industry leading Home
Warranty Service Agreement
bull Over 55 million homes protected
bull Over 975 of claims paid
bull A Rating with the Better Business Bureau (BBB)
Carolyn Ricketts Account Executive5716068051| cricketts2-10com
Defeated a 500 Increase We helped to defeat a budget amendment that would have increased the deductible that property owners including
YOUR clients pay to have their leaking underground oil tanks cleaned up and repaired by 500 The current $500 deductible was proposed to go up to $2500
The petroleum tank increase was a budget amendment
Prison time 1 to 6 years We added a felony charge to any criminal who lures or entices a REALTORreg to a property with the intent to do harm
The added felony will increase a criminalrsquos sentence by up to 6 years The 1-6 years are the statutory sentencing guidelines
Save $150 - $500hr on attorneysrsquo fees We continued to refine legislation that allows property managers to represent your clients in General District court
without needing an attorney So how much would your attorney charge per hour Typically attorney fees range from $150 - $500hr
$12000 back to consumers Under a new law that VAR drafted we have made it easier for Virginia consumers who have received a court judgment to
collect damages from the Real Estate Transaction Recovery Fund The average claim is approximately $12000 The $12000 figure is an estimate by the DPOR finance staff on the average claim that comes before the Board
Wiped out $200per Sign Fines We worked with a state legislator to prevent a proposal creating daily fines of $200 for any sign in any public right of
way How often do you use such signs for your listings 10 days for 1 sign = $2000 The $200 per sign was the language in the proposed bill VAR was able to stop
Keep RPAC of Virginia working for you Without your support RPAC cannot remain a powerful voice on key legislative issues Your dollars help us make our voice heard
Visit VirginiaRealtorsChoosecom
RPAC of VIRGINIA VICTORIES BY THE NUMBER$
RPAC makes a difference Just look at the numbers
PeninsulaREALTORreg Jan - Feb 2016page 32
January 2016 Virginia residential real estate sales showed typical industry seasonality January tends to be the slowest month for home sales and this year was particularly affected by catastrophic Winter Storm Jonas In spite of blizzard conditions that halted market activity for several days sales volume was nearly on par with the same month last year The value of transactions in January 2016 exceeded $174 billion an out performance of the previous January Median sales price rose 326 percent year-over-year and more than 7 per-cent from January 2014 Year-over-year elevation indicates sustainable market improvement Click here for the complete report httptinyurlcomj7k254s
Full service marketing amp innovative mobile platformsall designed with your business in mind
NMLS 176544 Member FDIC
MonarchWhere homebuying dreams take flight
PeninsulaREALTORreg Jan - Feb 2016page 33
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAIL
Featuring250 characters25 per lineEast WilmingtonRutherford Grand LakesArington Hills CoolidgeElrot Florence GilbertGold Canyon King andQueen Cedar CrestBristol Newport JacksonMadison ElbertvilleBarrowALL ACROSS NORTH AMERICA
THERealEstateBookreg
Volume 00 Issue 00
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAILTo see a sample listing on your smartphone Text T312634 to 85377
Learn more at RealEstateBookMediaKitcomFor FREE MAGAZINES or to ADVERTISE visit our website or call 800-841-3401
Bill McFallMarket Representative
The Market Leader in Hampton Roads VA amp North America
780 Pilot House Drive Building 400B Newport News VA 23606
office 757-873-6731 bull cell 757-286-6731 bull fax 757-273-8275email billmcfallcoxnet
wwwRealEstateBookHRcom
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Interested in advertising your company Click here for our 2016 Adverstising Information
or call us at 757-599-5222 today
PeninsulaREALTORreg Jan - Feb 2016page 34
The PeninsulaPerspective by Jim Wetzel RCE CEO
Nobody will ever deprive the American people of the right to vote except the American people themselves and the only way they could do this is by not voting
Franklin D Roosevelt
This past week I was honored to attend our REALTOR Legislative Meetings in Richmond VA together with our members arriving from all corners of the commonwealth We arrived with a common mission of taking our message to our legislators on the many ways we can improve the real estate industry and homeownership opportunities in our communities
With pride our members spoke of the improvements in the real estate indus-
try over the past year and highlighted our recommendations on how together REALTORS and our legislative partners can make things even better in the years ahead We highlighted important chang-es that we felt would make not only the industry better but the lives of all who call Virginia their home
We spoke together and our legislators listened We made a difference
On March 1st the process of selecting our next President of the United States begins We have listened to the debates been inundated by the media heard from the political commentators and heard the endorsements
Now it is time for us to speak We can make a difference one vote at a time
PeninsulaREALTORreg Jan - Feb 2016page 35
PeninsulaREALTORreg Jan - Feb 2016page 21
PeninsulaREALTORreg Jan - Feb 2016page 22
The PeninsulaRealEstateSchoolby Jo Mcnamara Daly Director of Education amp Events
2016 Continuing Education Classes Location
VPAR Building 1001 North Campus Parkway
Hampton VA 23666 757-599-5222
Payment MUST be made at time of registration Register online at membersvparorg and click on Member Service Center to login or complete this form and fax to 757-596-3911 or email to jovparorg VPAR reserves the right to cancel a class if less than 10 people are registered 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 12 Tuesday July 12 Tuesday Feb 9 Tuesday Aug 9 Tuesday Mar 8 Tuesday Sept 13 Tuesday Apr 5 Tuesday Oct 11 Tuesday May 10 Tuesday Nov 8 Tuesday June 21 Tuesday Dec 6
All 8 Hour Classes are from 830 ammdash530 pm
Code of Ethics (Meets NAR Quadrennial Requirements) amp Code of Conduct
Fair Housing Legal Updates amp Emerging Trends (Law) Flood Insurance amp Flood Map Instruction Real Estate Contracts Real Estate Agency
8-HR Elective CE Class Dates
Thursday Feb 16 Tuesday Sept 20 Tuesday May 17 Tuesday Nov 15
Anti-Trust Disclosures Professionalism Safety Do-Nots
3-HR Code of Ethics Course
Thursday November 3rd from 1ndash 4 pm Thursday December 8th from 1-4 pm
More dates to be added soon Meets NAR Quadrennial Requirements
Peninsula Real Estate School owned and operated by
Virginia Peninsula Association of REALTORSreg
Registration Form
Name Company Address City State Zip Phone Email License ______ Exp Date _
Method of Payment
Check Invoice Office Visa MasterCard AMX Discover Card Name on Card ____________________________ Credit Card _____ Exp Date Signature _____ Name on Card _________________________ Amount Due (check appropriate box) 8-Hour Course VPAR Member $50 8-Hour Course Non-Member $60 3-Hour Ethics Course VPAR Member $30 3-Hour Ethics Course VPAR Non-Member $35
PeninsulaREALTORreg Jan - Feb 2016page 23
Chip Dicks VAR Legislative
Counsel
The Virginia Peninsula Association of REALTORSreg in cooperation with
The Virginia Association of REALTORSreg presentshellip
VRLTA Update with Chip Dicks
Get the information you need on the updatedVirginia Residential Landlord Tenant Act
Tuesday April 12th 2016 900 am ndash 400 pm
_________________
$12500 per member $13000 per non-member
Virginia Peninsula Association of REALTORSreg 1001 North Campus Parkway Hampton 23666
Sponsor LUNCH INCLUDED
VRLTA Update with Chip Dicks ndash April 12th 2016Pending REB Approval for 3 Hours Legal Update amp 3 Hours Real Estate Related CE
Pending REB Approval for 2 Hours of Current Industry IssuesTrends Course will be submitted for approval at the end of the general assembly session to include anyall changes in the VRLTA
NAME FIRM
ADDRESS
CITY STATE ZIP
PHONE E-MAIL
Method of PaymentCheck ____ Visa MasterCard____ Discover___ AMX____
Credit Card Exp date
Signature(Your signature indicates acceptance of VPAR registration policy and authorization of credit card charges)
Name on credit card_______________________________________
PLEASE RETURN TO VPAR AT FAX NUMBER 757-596-3911 MAIL TO VPAR 1001 North Campus Parkway Hampton VA 23666 or register online at membersvparorg
QUESTIONS CALL 757-599-5222Cancellations must be received within 48 hours of the event to receive full refund On-site registration fee is $135 Please notify us in advance if you have a disability that requires special services
bull Get up to speed on the recent changes to the Virginia Residential Landlord and Tenant Act
bull Designed for both real estate brokers and sales persons this course offers a detailed review of lease applications
bull A ldquohow tordquo guide for broker agent compliance bull The awareness and information you need to protect your
business
Approved for
6 hrs CE and 2 hrs PL Credit
PeninsulaREALTORreg Jan - Feb 2016page 24
REINMLScom ndash A Valuable Member Resource
This year REIN unveiled a new and improved REINMLScom website If you havenrsquot logged in yet please be sure to do so and take advantage of all the site has to offer
If you have never been to REINrsquos member website and are wondering what it offers think of it as a ldquohubrdquo to all things REIN‐related From REINMLScom you can access Fusion and Matrix find market statistics and graphs the current monthrsquos training calendar PDF copies of REINrsquos contracts and forms and much more You can even access your membership account to review and pay invoices online
The new mobile friendly website offers you a fresh look eye‐catching graphics and improved navigation that makes information easy to find Plus two great new featureshellip
A lsquoSYSTEM STATUSrsquo section has been added to the home page of the website to identify when REINrsquos MLS systems and programs are experiencing known issues such as updates service interruptions or down time
The second new feature is lsquoASK REINrsquo ndash a robust technical support module ASK REIN allows you to search online documentation that can help you troubleshoot commonly asked technical questions and if you canrsquot find the answers you are searching for then you can lsquoSubmit a Support Requestrsquo to REINrsquos Tech Support Department directly from the website
To access the full benefits of REINMLScom members must log into the site using their REIN ID and a password If you have not already done so please establish a password for this website by clicking on lsquoChangeForgot Passwordrsquo located next to the green Log In button in the top right corner of the screen Then check your email for a link to reset your password If you still cannot log into the site please contact REINrsquos Tech Support at 7575317901 or supportreininccom
Check it out today wwwREINMLScom
PeninsulaREALTORreg Jan - Feb 2016page 25
Scenes From Our January Social At BJrsquos at Tech Center amp February at UNOrsquos
THANKS TO OUR ALL SPONSORS MARES Exterminating AT BJrsquos andFidelity Bank Mortgage at UnOrsquos
Vpar SOCIAL HAPPENINGS
PeninsulaREALTORreg Jan - Feb 2016page 26
The Virginia Peninsula Association of REALTORSreg presentshellip
The Accredited Buyer Representative Designation
(Approved for 13HRS CE credit)
Instructor Pat Snyder
Accredited Buyer Representative Designation Course ndash April 7 amp 8 2016
NAME FIRM
ADDRESS MEMBER
CITY STATE ZIP
PHONE E-MAIL
Method of Payment Check
Credit Card Exp date
Signature (Your signature indicates acceptance of VPAR registration policy and authorization of credit card charges) Real Estate License Exp date
PLEASE RETURN TO VPAR AT FAX NUMBER 757-596-3911 MAIL TO VPAR 1001 North Campus Parkway Hampton VA 23666 or register online at membersvparorg
QUESTIONS CALL 757-599-5222 Cancellations must be received within 48- business hours of course to receive a refund Registrations are
non-transferable On-site late registration fee is $325 VPAR RESERVES THE RIGHT TO CANCEL THE COURSE IF MINIMUM REGISTRATIONS ARE NOT MET
Please notify us in advance if you have a disability that requires special services
Thursday amp Friday April 7 amp 8 2016 830 am ndash 500 pm
APRIL IS A SPECIAL DISCOUNT MONTH (REGULAR MEMBER RATE IS $295)
VPAR Headquarters Training Room A 1001 North Campus Parkway Hampton VA 23666 Early Bird Pricing before April 1 by NOON
Members $255 Non-Members $275
Register after Members $275 Non-Members $300
On-site registration fee is $325
PeninsulaREALTORreg Jan - Feb 2016page 27
VPAR Peninsula Partners include the following loyal firms who have stepped up to support VPARevents and education throughout the year This program reflects a commitment to provide REALTORreg
members with the best business environment while connecting to industry professionals whoprovide valuable products and services It is designed to create a unique partnership between
sponsors and the Association where both members and sponsors benefit greatly through the abilityto network exchange ideas and conduct business
PeninsulaREALTORreg Jan - Feb 2016page 28
VPAR Members Supporting Our Communities atThe Poquoson Neighborhood Food Distribution
for the Peninsula Food Bank
PeninsulaREALTORreg Jan - Feb 2016page 29
CONTACT A LOCAL LOAN OFFICER AT 1-877-573-2324gt KIMBERLY CRESS EXT 21238gt LASHEKA PEARSON-PARKER EXT 21210gt NATASHA THOMAS EXT 21104
Federally insured by NCUA 100 financing loans include an additional funding fee which may be financed up to the maximum loan amount Product features subject to approval copy 2016 Navy Federal NFCU 13490 (2-16)
THEYrsquoLL ENJOY
gt no application feegt 100 financing optionsgt up to 6 seller contribution allowed
HELP YOUR CLIENTS UNLOCK THE DOOR TO THEIR FIRST HOME
13490_Peninsula_Realtor_Mag_Ad_2_162indd 1 2416 202 PM
PeninsulaREALTORreg Jan - Feb 2016page 30
smile you can have 2-10 Home Buyers Warrantyreg
on your team with our industry leading Home
Warranty Service Agreement
bull Over 55 million homes protected
bull Over 975 of claims paid
bull A Rating with the Better Business Bureau (BBB)
Carolyn Ricketts Account Executive5716068051| cricketts2-10com
Defeated a 500 Increase We helped to defeat a budget amendment that would have increased the deductible that property owners including
YOUR clients pay to have their leaking underground oil tanks cleaned up and repaired by 500 The current $500 deductible was proposed to go up to $2500
The petroleum tank increase was a budget amendment
Prison time 1 to 6 years We added a felony charge to any criminal who lures or entices a REALTORreg to a property with the intent to do harm
The added felony will increase a criminalrsquos sentence by up to 6 years The 1-6 years are the statutory sentencing guidelines
Save $150 - $500hr on attorneysrsquo fees We continued to refine legislation that allows property managers to represent your clients in General District court
without needing an attorney So how much would your attorney charge per hour Typically attorney fees range from $150 - $500hr
$12000 back to consumers Under a new law that VAR drafted we have made it easier for Virginia consumers who have received a court judgment to
collect damages from the Real Estate Transaction Recovery Fund The average claim is approximately $12000 The $12000 figure is an estimate by the DPOR finance staff on the average claim that comes before the Board
Wiped out $200per Sign Fines We worked with a state legislator to prevent a proposal creating daily fines of $200 for any sign in any public right of
way How often do you use such signs for your listings 10 days for 1 sign = $2000 The $200 per sign was the language in the proposed bill VAR was able to stop
Keep RPAC of Virginia working for you Without your support RPAC cannot remain a powerful voice on key legislative issues Your dollars help us make our voice heard
Visit VirginiaRealtorsChoosecom
RPAC of VIRGINIA VICTORIES BY THE NUMBER$
RPAC makes a difference Just look at the numbers
PeninsulaREALTORreg Jan - Feb 2016page 32
January 2016 Virginia residential real estate sales showed typical industry seasonality January tends to be the slowest month for home sales and this year was particularly affected by catastrophic Winter Storm Jonas In spite of blizzard conditions that halted market activity for several days sales volume was nearly on par with the same month last year The value of transactions in January 2016 exceeded $174 billion an out performance of the previous January Median sales price rose 326 percent year-over-year and more than 7 per-cent from January 2014 Year-over-year elevation indicates sustainable market improvement Click here for the complete report httptinyurlcomj7k254s
Full service marketing amp innovative mobile platformsall designed with your business in mind
NMLS 176544 Member FDIC
MonarchWhere homebuying dreams take flight
PeninsulaREALTORreg Jan - Feb 2016page 33
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAIL
Featuring250 characters25 per lineEast WilmingtonRutherford Grand LakesArington Hills CoolidgeElrot Florence GilbertGold Canyon King andQueen Cedar CrestBristol Newport JacksonMadison ElbertvilleBarrowALL ACROSS NORTH AMERICA
THERealEstateBookreg
Volume 00 Issue 00
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAILTo see a sample listing on your smartphone Text T312634 to 85377
Learn more at RealEstateBookMediaKitcomFor FREE MAGAZINES or to ADVERTISE visit our website or call 800-841-3401
Bill McFallMarket Representative
The Market Leader in Hampton Roads VA amp North America
780 Pilot House Drive Building 400B Newport News VA 23606
office 757-873-6731 bull cell 757-286-6731 bull fax 757-273-8275email billmcfallcoxnet
wwwRealEstateBookHRcom
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Interested in advertising your company Click here for our 2016 Adverstising Information
or call us at 757-599-5222 today
PeninsulaREALTORreg Jan - Feb 2016page 34
The PeninsulaPerspective by Jim Wetzel RCE CEO
Nobody will ever deprive the American people of the right to vote except the American people themselves and the only way they could do this is by not voting
Franklin D Roosevelt
This past week I was honored to attend our REALTOR Legislative Meetings in Richmond VA together with our members arriving from all corners of the commonwealth We arrived with a common mission of taking our message to our legislators on the many ways we can improve the real estate industry and homeownership opportunities in our communities
With pride our members spoke of the improvements in the real estate indus-
try over the past year and highlighted our recommendations on how together REALTORS and our legislative partners can make things even better in the years ahead We highlighted important chang-es that we felt would make not only the industry better but the lives of all who call Virginia their home
We spoke together and our legislators listened We made a difference
On March 1st the process of selecting our next President of the United States begins We have listened to the debates been inundated by the media heard from the political commentators and heard the endorsements
Now it is time for us to speak We can make a difference one vote at a time
PeninsulaREALTORreg Jan - Feb 2016page 35
PeninsulaREALTORreg Jan - Feb 2016page 22
The PeninsulaRealEstateSchoolby Jo Mcnamara Daly Director of Education amp Events
2016 Continuing Education Classes Location
VPAR Building 1001 North Campus Parkway
Hampton VA 23666 757-599-5222
Payment MUST be made at time of registration Register online at membersvparorg and click on Member Service Center to login or complete this form and fax to 757-596-3911 or email to jovparorg VPAR reserves the right to cancel a class if less than 10 people are registered 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 12 Tuesday July 12 Tuesday Feb 9 Tuesday Aug 9 Tuesday Mar 8 Tuesday Sept 13 Tuesday Apr 5 Tuesday Oct 11 Tuesday May 10 Tuesday Nov 8 Tuesday June 21 Tuesday Dec 6
All 8 Hour Classes are from 830 ammdash530 pm
Code of Ethics (Meets NAR Quadrennial Requirements) amp Code of Conduct
Fair Housing Legal Updates amp Emerging Trends (Law) Flood Insurance amp Flood Map Instruction Real Estate Contracts Real Estate Agency
8-HR Elective CE Class Dates
Thursday Feb 16 Tuesday Sept 20 Tuesday May 17 Tuesday Nov 15
Anti-Trust Disclosures Professionalism Safety Do-Nots
3-HR Code of Ethics Course
Thursday November 3rd from 1ndash 4 pm Thursday December 8th from 1-4 pm
More dates to be added soon Meets NAR Quadrennial Requirements
Peninsula Real Estate School owned and operated by
Virginia Peninsula Association of REALTORSreg
Registration Form
Name Company Address City State Zip Phone Email License ______ Exp Date _
Method of Payment
Check Invoice Office Visa MasterCard AMX Discover Card Name on Card ____________________________ Credit Card _____ Exp Date Signature _____ Name on Card _________________________ Amount Due (check appropriate box) 8-Hour Course VPAR Member $50 8-Hour Course Non-Member $60 3-Hour Ethics Course VPAR Member $30 3-Hour Ethics Course VPAR Non-Member $35
PeninsulaREALTORreg Jan - Feb 2016page 23
Chip Dicks VAR Legislative
Counsel
The Virginia Peninsula Association of REALTORSreg in cooperation with
The Virginia Association of REALTORSreg presentshellip
VRLTA Update with Chip Dicks
Get the information you need on the updatedVirginia Residential Landlord Tenant Act
Tuesday April 12th 2016 900 am ndash 400 pm
_________________
$12500 per member $13000 per non-member
Virginia Peninsula Association of REALTORSreg 1001 North Campus Parkway Hampton 23666
Sponsor LUNCH INCLUDED
VRLTA Update with Chip Dicks ndash April 12th 2016Pending REB Approval for 3 Hours Legal Update amp 3 Hours Real Estate Related CE
Pending REB Approval for 2 Hours of Current Industry IssuesTrends Course will be submitted for approval at the end of the general assembly session to include anyall changes in the VRLTA
NAME FIRM
ADDRESS
CITY STATE ZIP
PHONE E-MAIL
Method of PaymentCheck ____ Visa MasterCard____ Discover___ AMX____
Credit Card Exp date
Signature(Your signature indicates acceptance of VPAR registration policy and authorization of credit card charges)
Name on credit card_______________________________________
PLEASE RETURN TO VPAR AT FAX NUMBER 757-596-3911 MAIL TO VPAR 1001 North Campus Parkway Hampton VA 23666 or register online at membersvparorg
QUESTIONS CALL 757-599-5222Cancellations must be received within 48 hours of the event to receive full refund On-site registration fee is $135 Please notify us in advance if you have a disability that requires special services
bull Get up to speed on the recent changes to the Virginia Residential Landlord and Tenant Act
bull Designed for both real estate brokers and sales persons this course offers a detailed review of lease applications
bull A ldquohow tordquo guide for broker agent compliance bull The awareness and information you need to protect your
business
Approved for
6 hrs CE and 2 hrs PL Credit
PeninsulaREALTORreg Jan - Feb 2016page 24
REINMLScom ndash A Valuable Member Resource
This year REIN unveiled a new and improved REINMLScom website If you havenrsquot logged in yet please be sure to do so and take advantage of all the site has to offer
If you have never been to REINrsquos member website and are wondering what it offers think of it as a ldquohubrdquo to all things REIN‐related From REINMLScom you can access Fusion and Matrix find market statistics and graphs the current monthrsquos training calendar PDF copies of REINrsquos contracts and forms and much more You can even access your membership account to review and pay invoices online
The new mobile friendly website offers you a fresh look eye‐catching graphics and improved navigation that makes information easy to find Plus two great new featureshellip
A lsquoSYSTEM STATUSrsquo section has been added to the home page of the website to identify when REINrsquos MLS systems and programs are experiencing known issues such as updates service interruptions or down time
The second new feature is lsquoASK REINrsquo ndash a robust technical support module ASK REIN allows you to search online documentation that can help you troubleshoot commonly asked technical questions and if you canrsquot find the answers you are searching for then you can lsquoSubmit a Support Requestrsquo to REINrsquos Tech Support Department directly from the website
To access the full benefits of REINMLScom members must log into the site using their REIN ID and a password If you have not already done so please establish a password for this website by clicking on lsquoChangeForgot Passwordrsquo located next to the green Log In button in the top right corner of the screen Then check your email for a link to reset your password If you still cannot log into the site please contact REINrsquos Tech Support at 7575317901 or supportreininccom
Check it out today wwwREINMLScom
PeninsulaREALTORreg Jan - Feb 2016page 25
Scenes From Our January Social At BJrsquos at Tech Center amp February at UNOrsquos
THANKS TO OUR ALL SPONSORS MARES Exterminating AT BJrsquos andFidelity Bank Mortgage at UnOrsquos
Vpar SOCIAL HAPPENINGS
PeninsulaREALTORreg Jan - Feb 2016page 26
The Virginia Peninsula Association of REALTORSreg presentshellip
The Accredited Buyer Representative Designation
(Approved for 13HRS CE credit)
Instructor Pat Snyder
Accredited Buyer Representative Designation Course ndash April 7 amp 8 2016
NAME FIRM
ADDRESS MEMBER
CITY STATE ZIP
PHONE E-MAIL
Method of Payment Check
Credit Card Exp date
Signature (Your signature indicates acceptance of VPAR registration policy and authorization of credit card charges) Real Estate License Exp date
PLEASE RETURN TO VPAR AT FAX NUMBER 757-596-3911 MAIL TO VPAR 1001 North Campus Parkway Hampton VA 23666 or register online at membersvparorg
QUESTIONS CALL 757-599-5222 Cancellations must be received within 48- business hours of course to receive a refund Registrations are
non-transferable On-site late registration fee is $325 VPAR RESERVES THE RIGHT TO CANCEL THE COURSE IF MINIMUM REGISTRATIONS ARE NOT MET
Please notify us in advance if you have a disability that requires special services
Thursday amp Friday April 7 amp 8 2016 830 am ndash 500 pm
APRIL IS A SPECIAL DISCOUNT MONTH (REGULAR MEMBER RATE IS $295)
VPAR Headquarters Training Room A 1001 North Campus Parkway Hampton VA 23666 Early Bird Pricing before April 1 by NOON
Members $255 Non-Members $275
Register after Members $275 Non-Members $300
On-site registration fee is $325
PeninsulaREALTORreg Jan - Feb 2016page 27
VPAR Peninsula Partners include the following loyal firms who have stepped up to support VPARevents and education throughout the year This program reflects a commitment to provide REALTORreg
members with the best business environment while connecting to industry professionals whoprovide valuable products and services It is designed to create a unique partnership between
sponsors and the Association where both members and sponsors benefit greatly through the abilityto network exchange ideas and conduct business
PeninsulaREALTORreg Jan - Feb 2016page 28
VPAR Members Supporting Our Communities atThe Poquoson Neighborhood Food Distribution
for the Peninsula Food Bank
PeninsulaREALTORreg Jan - Feb 2016page 29
CONTACT A LOCAL LOAN OFFICER AT 1-877-573-2324gt KIMBERLY CRESS EXT 21238gt LASHEKA PEARSON-PARKER EXT 21210gt NATASHA THOMAS EXT 21104
Federally insured by NCUA 100 financing loans include an additional funding fee which may be financed up to the maximum loan amount Product features subject to approval copy 2016 Navy Federal NFCU 13490 (2-16)
THEYrsquoLL ENJOY
gt no application feegt 100 financing optionsgt up to 6 seller contribution allowed
HELP YOUR CLIENTS UNLOCK THE DOOR TO THEIR FIRST HOME
13490_Peninsula_Realtor_Mag_Ad_2_162indd 1 2416 202 PM
PeninsulaREALTORreg Jan - Feb 2016page 30
smile you can have 2-10 Home Buyers Warrantyreg
on your team with our industry leading Home
Warranty Service Agreement
bull Over 55 million homes protected
bull Over 975 of claims paid
bull A Rating with the Better Business Bureau (BBB)
Carolyn Ricketts Account Executive5716068051| cricketts2-10com
Defeated a 500 Increase We helped to defeat a budget amendment that would have increased the deductible that property owners including
YOUR clients pay to have their leaking underground oil tanks cleaned up and repaired by 500 The current $500 deductible was proposed to go up to $2500
The petroleum tank increase was a budget amendment
Prison time 1 to 6 years We added a felony charge to any criminal who lures or entices a REALTORreg to a property with the intent to do harm
The added felony will increase a criminalrsquos sentence by up to 6 years The 1-6 years are the statutory sentencing guidelines
Save $150 - $500hr on attorneysrsquo fees We continued to refine legislation that allows property managers to represent your clients in General District court
without needing an attorney So how much would your attorney charge per hour Typically attorney fees range from $150 - $500hr
$12000 back to consumers Under a new law that VAR drafted we have made it easier for Virginia consumers who have received a court judgment to
collect damages from the Real Estate Transaction Recovery Fund The average claim is approximately $12000 The $12000 figure is an estimate by the DPOR finance staff on the average claim that comes before the Board
Wiped out $200per Sign Fines We worked with a state legislator to prevent a proposal creating daily fines of $200 for any sign in any public right of
way How often do you use such signs for your listings 10 days for 1 sign = $2000 The $200 per sign was the language in the proposed bill VAR was able to stop
Keep RPAC of Virginia working for you Without your support RPAC cannot remain a powerful voice on key legislative issues Your dollars help us make our voice heard
Visit VirginiaRealtorsChoosecom
RPAC of VIRGINIA VICTORIES BY THE NUMBER$
RPAC makes a difference Just look at the numbers
PeninsulaREALTORreg Jan - Feb 2016page 32
January 2016 Virginia residential real estate sales showed typical industry seasonality January tends to be the slowest month for home sales and this year was particularly affected by catastrophic Winter Storm Jonas In spite of blizzard conditions that halted market activity for several days sales volume was nearly on par with the same month last year The value of transactions in January 2016 exceeded $174 billion an out performance of the previous January Median sales price rose 326 percent year-over-year and more than 7 per-cent from January 2014 Year-over-year elevation indicates sustainable market improvement Click here for the complete report httptinyurlcomj7k254s
Full service marketing amp innovative mobile platformsall designed with your business in mind
NMLS 176544 Member FDIC
MonarchWhere homebuying dreams take flight
PeninsulaREALTORreg Jan - Feb 2016page 33
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAIL
Featuring250 characters25 per lineEast WilmingtonRutherford Grand LakesArington Hills CoolidgeElrot Florence GilbertGold Canyon King andQueen Cedar CrestBristol Newport JacksonMadison ElbertvilleBarrowALL ACROSS NORTH AMERICA
THERealEstateBookreg
Volume 00 Issue 00
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAILTo see a sample listing on your smartphone Text T312634 to 85377
Learn more at RealEstateBookMediaKitcomFor FREE MAGAZINES or to ADVERTISE visit our website or call 800-841-3401
Bill McFallMarket Representative
The Market Leader in Hampton Roads VA amp North America
780 Pilot House Drive Building 400B Newport News VA 23606
office 757-873-6731 bull cell 757-286-6731 bull fax 757-273-8275email billmcfallcoxnet
wwwRealEstateBookHRcom
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Interested in advertising your company Click here for our 2016 Adverstising Information
or call us at 757-599-5222 today
PeninsulaREALTORreg Jan - Feb 2016page 34
The PeninsulaPerspective by Jim Wetzel RCE CEO
Nobody will ever deprive the American people of the right to vote except the American people themselves and the only way they could do this is by not voting
Franklin D Roosevelt
This past week I was honored to attend our REALTOR Legislative Meetings in Richmond VA together with our members arriving from all corners of the commonwealth We arrived with a common mission of taking our message to our legislators on the many ways we can improve the real estate industry and homeownership opportunities in our communities
With pride our members spoke of the improvements in the real estate indus-
try over the past year and highlighted our recommendations on how together REALTORS and our legislative partners can make things even better in the years ahead We highlighted important chang-es that we felt would make not only the industry better but the lives of all who call Virginia their home
We spoke together and our legislators listened We made a difference
On March 1st the process of selecting our next President of the United States begins We have listened to the debates been inundated by the media heard from the political commentators and heard the endorsements
Now it is time for us to speak We can make a difference one vote at a time
PeninsulaREALTORreg Jan - Feb 2016page 35
PeninsulaREALTORreg Jan - Feb 2016page 23
Chip Dicks VAR Legislative
Counsel
The Virginia Peninsula Association of REALTORSreg in cooperation with
The Virginia Association of REALTORSreg presentshellip
VRLTA Update with Chip Dicks
Get the information you need on the updatedVirginia Residential Landlord Tenant Act
Tuesday April 12th 2016 900 am ndash 400 pm
_________________
$12500 per member $13000 per non-member
Virginia Peninsula Association of REALTORSreg 1001 North Campus Parkway Hampton 23666
Sponsor LUNCH INCLUDED
VRLTA Update with Chip Dicks ndash April 12th 2016Pending REB Approval for 3 Hours Legal Update amp 3 Hours Real Estate Related CE
Pending REB Approval for 2 Hours of Current Industry IssuesTrends Course will be submitted for approval at the end of the general assembly session to include anyall changes in the VRLTA
NAME FIRM
ADDRESS
CITY STATE ZIP
PHONE E-MAIL
Method of PaymentCheck ____ Visa MasterCard____ Discover___ AMX____
Credit Card Exp date
Signature(Your signature indicates acceptance of VPAR registration policy and authorization of credit card charges)
Name on credit card_______________________________________
PLEASE RETURN TO VPAR AT FAX NUMBER 757-596-3911 MAIL TO VPAR 1001 North Campus Parkway Hampton VA 23666 or register online at membersvparorg
QUESTIONS CALL 757-599-5222Cancellations must be received within 48 hours of the event to receive full refund On-site registration fee is $135 Please notify us in advance if you have a disability that requires special services
bull Get up to speed on the recent changes to the Virginia Residential Landlord and Tenant Act
bull Designed for both real estate brokers and sales persons this course offers a detailed review of lease applications
bull A ldquohow tordquo guide for broker agent compliance bull The awareness and information you need to protect your
business
Approved for
6 hrs CE and 2 hrs PL Credit
PeninsulaREALTORreg Jan - Feb 2016page 24
REINMLScom ndash A Valuable Member Resource
This year REIN unveiled a new and improved REINMLScom website If you havenrsquot logged in yet please be sure to do so and take advantage of all the site has to offer
If you have never been to REINrsquos member website and are wondering what it offers think of it as a ldquohubrdquo to all things REIN‐related From REINMLScom you can access Fusion and Matrix find market statistics and graphs the current monthrsquos training calendar PDF copies of REINrsquos contracts and forms and much more You can even access your membership account to review and pay invoices online
The new mobile friendly website offers you a fresh look eye‐catching graphics and improved navigation that makes information easy to find Plus two great new featureshellip
A lsquoSYSTEM STATUSrsquo section has been added to the home page of the website to identify when REINrsquos MLS systems and programs are experiencing known issues such as updates service interruptions or down time
The second new feature is lsquoASK REINrsquo ndash a robust technical support module ASK REIN allows you to search online documentation that can help you troubleshoot commonly asked technical questions and if you canrsquot find the answers you are searching for then you can lsquoSubmit a Support Requestrsquo to REINrsquos Tech Support Department directly from the website
To access the full benefits of REINMLScom members must log into the site using their REIN ID and a password If you have not already done so please establish a password for this website by clicking on lsquoChangeForgot Passwordrsquo located next to the green Log In button in the top right corner of the screen Then check your email for a link to reset your password If you still cannot log into the site please contact REINrsquos Tech Support at 7575317901 or supportreininccom
Check it out today wwwREINMLScom
PeninsulaREALTORreg Jan - Feb 2016page 25
Scenes From Our January Social At BJrsquos at Tech Center amp February at UNOrsquos
THANKS TO OUR ALL SPONSORS MARES Exterminating AT BJrsquos andFidelity Bank Mortgage at UnOrsquos
Vpar SOCIAL HAPPENINGS
PeninsulaREALTORreg Jan - Feb 2016page 26
The Virginia Peninsula Association of REALTORSreg presentshellip
The Accredited Buyer Representative Designation
(Approved for 13HRS CE credit)
Instructor Pat Snyder
Accredited Buyer Representative Designation Course ndash April 7 amp 8 2016
NAME FIRM
ADDRESS MEMBER
CITY STATE ZIP
PHONE E-MAIL
Method of Payment Check
Credit Card Exp date
Signature (Your signature indicates acceptance of VPAR registration policy and authorization of credit card charges) Real Estate License Exp date
PLEASE RETURN TO VPAR AT FAX NUMBER 757-596-3911 MAIL TO VPAR 1001 North Campus Parkway Hampton VA 23666 or register online at membersvparorg
QUESTIONS CALL 757-599-5222 Cancellations must be received within 48- business hours of course to receive a refund Registrations are
non-transferable On-site late registration fee is $325 VPAR RESERVES THE RIGHT TO CANCEL THE COURSE IF MINIMUM REGISTRATIONS ARE NOT MET
Please notify us in advance if you have a disability that requires special services
Thursday amp Friday April 7 amp 8 2016 830 am ndash 500 pm
APRIL IS A SPECIAL DISCOUNT MONTH (REGULAR MEMBER RATE IS $295)
VPAR Headquarters Training Room A 1001 North Campus Parkway Hampton VA 23666 Early Bird Pricing before April 1 by NOON
Members $255 Non-Members $275
Register after Members $275 Non-Members $300
On-site registration fee is $325
PeninsulaREALTORreg Jan - Feb 2016page 27
VPAR Peninsula Partners include the following loyal firms who have stepped up to support VPARevents and education throughout the year This program reflects a commitment to provide REALTORreg
members with the best business environment while connecting to industry professionals whoprovide valuable products and services It is designed to create a unique partnership between
sponsors and the Association where both members and sponsors benefit greatly through the abilityto network exchange ideas and conduct business
PeninsulaREALTORreg Jan - Feb 2016page 28
VPAR Members Supporting Our Communities atThe Poquoson Neighborhood Food Distribution
for the Peninsula Food Bank
PeninsulaREALTORreg Jan - Feb 2016page 29
CONTACT A LOCAL LOAN OFFICER AT 1-877-573-2324gt KIMBERLY CRESS EXT 21238gt LASHEKA PEARSON-PARKER EXT 21210gt NATASHA THOMAS EXT 21104
Federally insured by NCUA 100 financing loans include an additional funding fee which may be financed up to the maximum loan amount Product features subject to approval copy 2016 Navy Federal NFCU 13490 (2-16)
THEYrsquoLL ENJOY
gt no application feegt 100 financing optionsgt up to 6 seller contribution allowed
HELP YOUR CLIENTS UNLOCK THE DOOR TO THEIR FIRST HOME
13490_Peninsula_Realtor_Mag_Ad_2_162indd 1 2416 202 PM
PeninsulaREALTORreg Jan - Feb 2016page 30
smile you can have 2-10 Home Buyers Warrantyreg
on your team with our industry leading Home
Warranty Service Agreement
bull Over 55 million homes protected
bull Over 975 of claims paid
bull A Rating with the Better Business Bureau (BBB)
Carolyn Ricketts Account Executive5716068051| cricketts2-10com
Defeated a 500 Increase We helped to defeat a budget amendment that would have increased the deductible that property owners including
YOUR clients pay to have their leaking underground oil tanks cleaned up and repaired by 500 The current $500 deductible was proposed to go up to $2500
The petroleum tank increase was a budget amendment
Prison time 1 to 6 years We added a felony charge to any criminal who lures or entices a REALTORreg to a property with the intent to do harm
The added felony will increase a criminalrsquos sentence by up to 6 years The 1-6 years are the statutory sentencing guidelines
Save $150 - $500hr on attorneysrsquo fees We continued to refine legislation that allows property managers to represent your clients in General District court
without needing an attorney So how much would your attorney charge per hour Typically attorney fees range from $150 - $500hr
$12000 back to consumers Under a new law that VAR drafted we have made it easier for Virginia consumers who have received a court judgment to
collect damages from the Real Estate Transaction Recovery Fund The average claim is approximately $12000 The $12000 figure is an estimate by the DPOR finance staff on the average claim that comes before the Board
Wiped out $200per Sign Fines We worked with a state legislator to prevent a proposal creating daily fines of $200 for any sign in any public right of
way How often do you use such signs for your listings 10 days for 1 sign = $2000 The $200 per sign was the language in the proposed bill VAR was able to stop
Keep RPAC of Virginia working for you Without your support RPAC cannot remain a powerful voice on key legislative issues Your dollars help us make our voice heard
Visit VirginiaRealtorsChoosecom
RPAC of VIRGINIA VICTORIES BY THE NUMBER$
RPAC makes a difference Just look at the numbers
PeninsulaREALTORreg Jan - Feb 2016page 32
January 2016 Virginia residential real estate sales showed typical industry seasonality January tends to be the slowest month for home sales and this year was particularly affected by catastrophic Winter Storm Jonas In spite of blizzard conditions that halted market activity for several days sales volume was nearly on par with the same month last year The value of transactions in January 2016 exceeded $174 billion an out performance of the previous January Median sales price rose 326 percent year-over-year and more than 7 per-cent from January 2014 Year-over-year elevation indicates sustainable market improvement Click here for the complete report httptinyurlcomj7k254s
Full service marketing amp innovative mobile platformsall designed with your business in mind
NMLS 176544 Member FDIC
MonarchWhere homebuying dreams take flight
PeninsulaREALTORreg Jan - Feb 2016page 33
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAIL
Featuring250 characters25 per lineEast WilmingtonRutherford Grand LakesArington Hills CoolidgeElrot Florence GilbertGold Canyon King andQueen Cedar CrestBristol Newport JacksonMadison ElbertvilleBarrowALL ACROSS NORTH AMERICA
THERealEstateBookreg
Volume 00 Issue 00
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAILTo see a sample listing on your smartphone Text T312634 to 85377
Learn more at RealEstateBookMediaKitcomFor FREE MAGAZINES or to ADVERTISE visit our website or call 800-841-3401
Bill McFallMarket Representative
The Market Leader in Hampton Roads VA amp North America
780 Pilot House Drive Building 400B Newport News VA 23606
office 757-873-6731 bull cell 757-286-6731 bull fax 757-273-8275email billmcfallcoxnet
wwwRealEstateBookHRcom
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Interested in advertising your company Click here for our 2016 Adverstising Information
or call us at 757-599-5222 today
PeninsulaREALTORreg Jan - Feb 2016page 34
The PeninsulaPerspective by Jim Wetzel RCE CEO
Nobody will ever deprive the American people of the right to vote except the American people themselves and the only way they could do this is by not voting
Franklin D Roosevelt
This past week I was honored to attend our REALTOR Legislative Meetings in Richmond VA together with our members arriving from all corners of the commonwealth We arrived with a common mission of taking our message to our legislators on the many ways we can improve the real estate industry and homeownership opportunities in our communities
With pride our members spoke of the improvements in the real estate indus-
try over the past year and highlighted our recommendations on how together REALTORS and our legislative partners can make things even better in the years ahead We highlighted important chang-es that we felt would make not only the industry better but the lives of all who call Virginia their home
We spoke together and our legislators listened We made a difference
On March 1st the process of selecting our next President of the United States begins We have listened to the debates been inundated by the media heard from the political commentators and heard the endorsements
Now it is time for us to speak We can make a difference one vote at a time
PeninsulaREALTORreg Jan - Feb 2016page 35
PeninsulaREALTORreg Jan - Feb 2016page 24
REINMLScom ndash A Valuable Member Resource
This year REIN unveiled a new and improved REINMLScom website If you havenrsquot logged in yet please be sure to do so and take advantage of all the site has to offer
If you have never been to REINrsquos member website and are wondering what it offers think of it as a ldquohubrdquo to all things REIN‐related From REINMLScom you can access Fusion and Matrix find market statistics and graphs the current monthrsquos training calendar PDF copies of REINrsquos contracts and forms and much more You can even access your membership account to review and pay invoices online
The new mobile friendly website offers you a fresh look eye‐catching graphics and improved navigation that makes information easy to find Plus two great new featureshellip
A lsquoSYSTEM STATUSrsquo section has been added to the home page of the website to identify when REINrsquos MLS systems and programs are experiencing known issues such as updates service interruptions or down time
The second new feature is lsquoASK REINrsquo ndash a robust technical support module ASK REIN allows you to search online documentation that can help you troubleshoot commonly asked technical questions and if you canrsquot find the answers you are searching for then you can lsquoSubmit a Support Requestrsquo to REINrsquos Tech Support Department directly from the website
To access the full benefits of REINMLScom members must log into the site using their REIN ID and a password If you have not already done so please establish a password for this website by clicking on lsquoChangeForgot Passwordrsquo located next to the green Log In button in the top right corner of the screen Then check your email for a link to reset your password If you still cannot log into the site please contact REINrsquos Tech Support at 7575317901 or supportreininccom
Check it out today wwwREINMLScom
PeninsulaREALTORreg Jan - Feb 2016page 25
Scenes From Our January Social At BJrsquos at Tech Center amp February at UNOrsquos
THANKS TO OUR ALL SPONSORS MARES Exterminating AT BJrsquos andFidelity Bank Mortgage at UnOrsquos
Vpar SOCIAL HAPPENINGS
PeninsulaREALTORreg Jan - Feb 2016page 26
The Virginia Peninsula Association of REALTORSreg presentshellip
The Accredited Buyer Representative Designation
(Approved for 13HRS CE credit)
Instructor Pat Snyder
Accredited Buyer Representative Designation Course ndash April 7 amp 8 2016
NAME FIRM
ADDRESS MEMBER
CITY STATE ZIP
PHONE E-MAIL
Method of Payment Check
Credit Card Exp date
Signature (Your signature indicates acceptance of VPAR registration policy and authorization of credit card charges) Real Estate License Exp date
PLEASE RETURN TO VPAR AT FAX NUMBER 757-596-3911 MAIL TO VPAR 1001 North Campus Parkway Hampton VA 23666 or register online at membersvparorg
QUESTIONS CALL 757-599-5222 Cancellations must be received within 48- business hours of course to receive a refund Registrations are
non-transferable On-site late registration fee is $325 VPAR RESERVES THE RIGHT TO CANCEL THE COURSE IF MINIMUM REGISTRATIONS ARE NOT MET
Please notify us in advance if you have a disability that requires special services
Thursday amp Friday April 7 amp 8 2016 830 am ndash 500 pm
APRIL IS A SPECIAL DISCOUNT MONTH (REGULAR MEMBER RATE IS $295)
VPAR Headquarters Training Room A 1001 North Campus Parkway Hampton VA 23666 Early Bird Pricing before April 1 by NOON
Members $255 Non-Members $275
Register after Members $275 Non-Members $300
On-site registration fee is $325
PeninsulaREALTORreg Jan - Feb 2016page 27
VPAR Peninsula Partners include the following loyal firms who have stepped up to support VPARevents and education throughout the year This program reflects a commitment to provide REALTORreg
members with the best business environment while connecting to industry professionals whoprovide valuable products and services It is designed to create a unique partnership between
sponsors and the Association where both members and sponsors benefit greatly through the abilityto network exchange ideas and conduct business
PeninsulaREALTORreg Jan - Feb 2016page 28
VPAR Members Supporting Our Communities atThe Poquoson Neighborhood Food Distribution
for the Peninsula Food Bank
PeninsulaREALTORreg Jan - Feb 2016page 29
CONTACT A LOCAL LOAN OFFICER AT 1-877-573-2324gt KIMBERLY CRESS EXT 21238gt LASHEKA PEARSON-PARKER EXT 21210gt NATASHA THOMAS EXT 21104
Federally insured by NCUA 100 financing loans include an additional funding fee which may be financed up to the maximum loan amount Product features subject to approval copy 2016 Navy Federal NFCU 13490 (2-16)
THEYrsquoLL ENJOY
gt no application feegt 100 financing optionsgt up to 6 seller contribution allowed
HELP YOUR CLIENTS UNLOCK THE DOOR TO THEIR FIRST HOME
13490_Peninsula_Realtor_Mag_Ad_2_162indd 1 2416 202 PM
PeninsulaREALTORreg Jan - Feb 2016page 30
smile you can have 2-10 Home Buyers Warrantyreg
on your team with our industry leading Home
Warranty Service Agreement
bull Over 55 million homes protected
bull Over 975 of claims paid
bull A Rating with the Better Business Bureau (BBB)
Carolyn Ricketts Account Executive5716068051| cricketts2-10com
Defeated a 500 Increase We helped to defeat a budget amendment that would have increased the deductible that property owners including
YOUR clients pay to have their leaking underground oil tanks cleaned up and repaired by 500 The current $500 deductible was proposed to go up to $2500
The petroleum tank increase was a budget amendment
Prison time 1 to 6 years We added a felony charge to any criminal who lures or entices a REALTORreg to a property with the intent to do harm
The added felony will increase a criminalrsquos sentence by up to 6 years The 1-6 years are the statutory sentencing guidelines
Save $150 - $500hr on attorneysrsquo fees We continued to refine legislation that allows property managers to represent your clients in General District court
without needing an attorney So how much would your attorney charge per hour Typically attorney fees range from $150 - $500hr
$12000 back to consumers Under a new law that VAR drafted we have made it easier for Virginia consumers who have received a court judgment to
collect damages from the Real Estate Transaction Recovery Fund The average claim is approximately $12000 The $12000 figure is an estimate by the DPOR finance staff on the average claim that comes before the Board
Wiped out $200per Sign Fines We worked with a state legislator to prevent a proposal creating daily fines of $200 for any sign in any public right of
way How often do you use such signs for your listings 10 days for 1 sign = $2000 The $200 per sign was the language in the proposed bill VAR was able to stop
Keep RPAC of Virginia working for you Without your support RPAC cannot remain a powerful voice on key legislative issues Your dollars help us make our voice heard
Visit VirginiaRealtorsChoosecom
RPAC of VIRGINIA VICTORIES BY THE NUMBER$
RPAC makes a difference Just look at the numbers
PeninsulaREALTORreg Jan - Feb 2016page 32
January 2016 Virginia residential real estate sales showed typical industry seasonality January tends to be the slowest month for home sales and this year was particularly affected by catastrophic Winter Storm Jonas In spite of blizzard conditions that halted market activity for several days sales volume was nearly on par with the same month last year The value of transactions in January 2016 exceeded $174 billion an out performance of the previous January Median sales price rose 326 percent year-over-year and more than 7 per-cent from January 2014 Year-over-year elevation indicates sustainable market improvement Click here for the complete report httptinyurlcomj7k254s
Full service marketing amp innovative mobile platformsall designed with your business in mind
NMLS 176544 Member FDIC
MonarchWhere homebuying dreams take flight
PeninsulaREALTORreg Jan - Feb 2016page 33
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAIL
Featuring250 characters25 per lineEast WilmingtonRutherford Grand LakesArington Hills CoolidgeElrot Florence GilbertGold Canyon King andQueen Cedar CrestBristol Newport JacksonMadison ElbertvilleBarrowALL ACROSS NORTH AMERICA
THERealEstateBookreg
Volume 00 Issue 00
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAILTo see a sample listing on your smartphone Text T312634 to 85377
Learn more at RealEstateBookMediaKitcomFor FREE MAGAZINES or to ADVERTISE visit our website or call 800-841-3401
Bill McFallMarket Representative
The Market Leader in Hampton Roads VA amp North America
780 Pilot House Drive Building 400B Newport News VA 23606
office 757-873-6731 bull cell 757-286-6731 bull fax 757-273-8275email billmcfallcoxnet
wwwRealEstateBookHRcom
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Interested in advertising your company Click here for our 2016 Adverstising Information
or call us at 757-599-5222 today
PeninsulaREALTORreg Jan - Feb 2016page 34
The PeninsulaPerspective by Jim Wetzel RCE CEO
Nobody will ever deprive the American people of the right to vote except the American people themselves and the only way they could do this is by not voting
Franklin D Roosevelt
This past week I was honored to attend our REALTOR Legislative Meetings in Richmond VA together with our members arriving from all corners of the commonwealth We arrived with a common mission of taking our message to our legislators on the many ways we can improve the real estate industry and homeownership opportunities in our communities
With pride our members spoke of the improvements in the real estate indus-
try over the past year and highlighted our recommendations on how together REALTORS and our legislative partners can make things even better in the years ahead We highlighted important chang-es that we felt would make not only the industry better but the lives of all who call Virginia their home
We spoke together and our legislators listened We made a difference
On March 1st the process of selecting our next President of the United States begins We have listened to the debates been inundated by the media heard from the political commentators and heard the endorsements
Now it is time for us to speak We can make a difference one vote at a time
PeninsulaREALTORreg Jan - Feb 2016page 35
PeninsulaREALTORreg Jan - Feb 2016page 25
Scenes From Our January Social At BJrsquos at Tech Center amp February at UNOrsquos
THANKS TO OUR ALL SPONSORS MARES Exterminating AT BJrsquos andFidelity Bank Mortgage at UnOrsquos
Vpar SOCIAL HAPPENINGS
PeninsulaREALTORreg Jan - Feb 2016page 26
The Virginia Peninsula Association of REALTORSreg presentshellip
The Accredited Buyer Representative Designation
(Approved for 13HRS CE credit)
Instructor Pat Snyder
Accredited Buyer Representative Designation Course ndash April 7 amp 8 2016
NAME FIRM
ADDRESS MEMBER
CITY STATE ZIP
PHONE E-MAIL
Method of Payment Check
Credit Card Exp date
Signature (Your signature indicates acceptance of VPAR registration policy and authorization of credit card charges) Real Estate License Exp date
PLEASE RETURN TO VPAR AT FAX NUMBER 757-596-3911 MAIL TO VPAR 1001 North Campus Parkway Hampton VA 23666 or register online at membersvparorg
QUESTIONS CALL 757-599-5222 Cancellations must be received within 48- business hours of course to receive a refund Registrations are
non-transferable On-site late registration fee is $325 VPAR RESERVES THE RIGHT TO CANCEL THE COURSE IF MINIMUM REGISTRATIONS ARE NOT MET
Please notify us in advance if you have a disability that requires special services
Thursday amp Friday April 7 amp 8 2016 830 am ndash 500 pm
APRIL IS A SPECIAL DISCOUNT MONTH (REGULAR MEMBER RATE IS $295)
VPAR Headquarters Training Room A 1001 North Campus Parkway Hampton VA 23666 Early Bird Pricing before April 1 by NOON
Members $255 Non-Members $275
Register after Members $275 Non-Members $300
On-site registration fee is $325
PeninsulaREALTORreg Jan - Feb 2016page 27
VPAR Peninsula Partners include the following loyal firms who have stepped up to support VPARevents and education throughout the year This program reflects a commitment to provide REALTORreg
members with the best business environment while connecting to industry professionals whoprovide valuable products and services It is designed to create a unique partnership between
sponsors and the Association where both members and sponsors benefit greatly through the abilityto network exchange ideas and conduct business
PeninsulaREALTORreg Jan - Feb 2016page 28
VPAR Members Supporting Our Communities atThe Poquoson Neighborhood Food Distribution
for the Peninsula Food Bank
PeninsulaREALTORreg Jan - Feb 2016page 29
CONTACT A LOCAL LOAN OFFICER AT 1-877-573-2324gt KIMBERLY CRESS EXT 21238gt LASHEKA PEARSON-PARKER EXT 21210gt NATASHA THOMAS EXT 21104
Federally insured by NCUA 100 financing loans include an additional funding fee which may be financed up to the maximum loan amount Product features subject to approval copy 2016 Navy Federal NFCU 13490 (2-16)
THEYrsquoLL ENJOY
gt no application feegt 100 financing optionsgt up to 6 seller contribution allowed
HELP YOUR CLIENTS UNLOCK THE DOOR TO THEIR FIRST HOME
13490_Peninsula_Realtor_Mag_Ad_2_162indd 1 2416 202 PM
PeninsulaREALTORreg Jan - Feb 2016page 30
smile you can have 2-10 Home Buyers Warrantyreg
on your team with our industry leading Home
Warranty Service Agreement
bull Over 55 million homes protected
bull Over 975 of claims paid
bull A Rating with the Better Business Bureau (BBB)
Carolyn Ricketts Account Executive5716068051| cricketts2-10com
Defeated a 500 Increase We helped to defeat a budget amendment that would have increased the deductible that property owners including
YOUR clients pay to have their leaking underground oil tanks cleaned up and repaired by 500 The current $500 deductible was proposed to go up to $2500
The petroleum tank increase was a budget amendment
Prison time 1 to 6 years We added a felony charge to any criminal who lures or entices a REALTORreg to a property with the intent to do harm
The added felony will increase a criminalrsquos sentence by up to 6 years The 1-6 years are the statutory sentencing guidelines
Save $150 - $500hr on attorneysrsquo fees We continued to refine legislation that allows property managers to represent your clients in General District court
without needing an attorney So how much would your attorney charge per hour Typically attorney fees range from $150 - $500hr
$12000 back to consumers Under a new law that VAR drafted we have made it easier for Virginia consumers who have received a court judgment to
collect damages from the Real Estate Transaction Recovery Fund The average claim is approximately $12000 The $12000 figure is an estimate by the DPOR finance staff on the average claim that comes before the Board
Wiped out $200per Sign Fines We worked with a state legislator to prevent a proposal creating daily fines of $200 for any sign in any public right of
way How often do you use such signs for your listings 10 days for 1 sign = $2000 The $200 per sign was the language in the proposed bill VAR was able to stop
Keep RPAC of Virginia working for you Without your support RPAC cannot remain a powerful voice on key legislative issues Your dollars help us make our voice heard
Visit VirginiaRealtorsChoosecom
RPAC of VIRGINIA VICTORIES BY THE NUMBER$
RPAC makes a difference Just look at the numbers
PeninsulaREALTORreg Jan - Feb 2016page 32
January 2016 Virginia residential real estate sales showed typical industry seasonality January tends to be the slowest month for home sales and this year was particularly affected by catastrophic Winter Storm Jonas In spite of blizzard conditions that halted market activity for several days sales volume was nearly on par with the same month last year The value of transactions in January 2016 exceeded $174 billion an out performance of the previous January Median sales price rose 326 percent year-over-year and more than 7 per-cent from January 2014 Year-over-year elevation indicates sustainable market improvement Click here for the complete report httptinyurlcomj7k254s
Full service marketing amp innovative mobile platformsall designed with your business in mind
NMLS 176544 Member FDIC
MonarchWhere homebuying dreams take flight
PeninsulaREALTORreg Jan - Feb 2016page 33
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAIL
Featuring250 characters25 per lineEast WilmingtonRutherford Grand LakesArington Hills CoolidgeElrot Florence GilbertGold Canyon King andQueen Cedar CrestBristol Newport JacksonMadison ElbertvilleBarrowALL ACROSS NORTH AMERICA
THERealEstateBookreg
Volume 00 Issue 00
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAILTo see a sample listing on your smartphone Text T312634 to 85377
Learn more at RealEstateBookMediaKitcomFor FREE MAGAZINES or to ADVERTISE visit our website or call 800-841-3401
Bill McFallMarket Representative
The Market Leader in Hampton Roads VA amp North America
780 Pilot House Drive Building 400B Newport News VA 23606
office 757-873-6731 bull cell 757-286-6731 bull fax 757-273-8275email billmcfallcoxnet
wwwRealEstateBookHRcom
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Interested in advertising your company Click here for our 2016 Adverstising Information
or call us at 757-599-5222 today
PeninsulaREALTORreg Jan - Feb 2016page 34
The PeninsulaPerspective by Jim Wetzel RCE CEO
Nobody will ever deprive the American people of the right to vote except the American people themselves and the only way they could do this is by not voting
Franklin D Roosevelt
This past week I was honored to attend our REALTOR Legislative Meetings in Richmond VA together with our members arriving from all corners of the commonwealth We arrived with a common mission of taking our message to our legislators on the many ways we can improve the real estate industry and homeownership opportunities in our communities
With pride our members spoke of the improvements in the real estate indus-
try over the past year and highlighted our recommendations on how together REALTORS and our legislative partners can make things even better in the years ahead We highlighted important chang-es that we felt would make not only the industry better but the lives of all who call Virginia their home
We spoke together and our legislators listened We made a difference
On March 1st the process of selecting our next President of the United States begins We have listened to the debates been inundated by the media heard from the political commentators and heard the endorsements
Now it is time for us to speak We can make a difference one vote at a time
PeninsulaREALTORreg Jan - Feb 2016page 35
PeninsulaREALTORreg Jan - Feb 2016page 26
The Virginia Peninsula Association of REALTORSreg presentshellip
The Accredited Buyer Representative Designation
(Approved for 13HRS CE credit)
Instructor Pat Snyder
Accredited Buyer Representative Designation Course ndash April 7 amp 8 2016
NAME FIRM
ADDRESS MEMBER
CITY STATE ZIP
PHONE E-MAIL
Method of Payment Check
Credit Card Exp date
Signature (Your signature indicates acceptance of VPAR registration policy and authorization of credit card charges) Real Estate License Exp date
PLEASE RETURN TO VPAR AT FAX NUMBER 757-596-3911 MAIL TO VPAR 1001 North Campus Parkway Hampton VA 23666 or register online at membersvparorg
QUESTIONS CALL 757-599-5222 Cancellations must be received within 48- business hours of course to receive a refund Registrations are
non-transferable On-site late registration fee is $325 VPAR RESERVES THE RIGHT TO CANCEL THE COURSE IF MINIMUM REGISTRATIONS ARE NOT MET
Please notify us in advance if you have a disability that requires special services
Thursday amp Friday April 7 amp 8 2016 830 am ndash 500 pm
APRIL IS A SPECIAL DISCOUNT MONTH (REGULAR MEMBER RATE IS $295)
VPAR Headquarters Training Room A 1001 North Campus Parkway Hampton VA 23666 Early Bird Pricing before April 1 by NOON
Members $255 Non-Members $275
Register after Members $275 Non-Members $300
On-site registration fee is $325
PeninsulaREALTORreg Jan - Feb 2016page 27
VPAR Peninsula Partners include the following loyal firms who have stepped up to support VPARevents and education throughout the year This program reflects a commitment to provide REALTORreg
members with the best business environment while connecting to industry professionals whoprovide valuable products and services It is designed to create a unique partnership between
sponsors and the Association where both members and sponsors benefit greatly through the abilityto network exchange ideas and conduct business
PeninsulaREALTORreg Jan - Feb 2016page 28
VPAR Members Supporting Our Communities atThe Poquoson Neighborhood Food Distribution
for the Peninsula Food Bank
PeninsulaREALTORreg Jan - Feb 2016page 29
CONTACT A LOCAL LOAN OFFICER AT 1-877-573-2324gt KIMBERLY CRESS EXT 21238gt LASHEKA PEARSON-PARKER EXT 21210gt NATASHA THOMAS EXT 21104
Federally insured by NCUA 100 financing loans include an additional funding fee which may be financed up to the maximum loan amount Product features subject to approval copy 2016 Navy Federal NFCU 13490 (2-16)
THEYrsquoLL ENJOY
gt no application feegt 100 financing optionsgt up to 6 seller contribution allowed
HELP YOUR CLIENTS UNLOCK THE DOOR TO THEIR FIRST HOME
13490_Peninsula_Realtor_Mag_Ad_2_162indd 1 2416 202 PM
PeninsulaREALTORreg Jan - Feb 2016page 30
smile you can have 2-10 Home Buyers Warrantyreg
on your team with our industry leading Home
Warranty Service Agreement
bull Over 55 million homes protected
bull Over 975 of claims paid
bull A Rating with the Better Business Bureau (BBB)
Carolyn Ricketts Account Executive5716068051| cricketts2-10com
Defeated a 500 Increase We helped to defeat a budget amendment that would have increased the deductible that property owners including
YOUR clients pay to have their leaking underground oil tanks cleaned up and repaired by 500 The current $500 deductible was proposed to go up to $2500
The petroleum tank increase was a budget amendment
Prison time 1 to 6 years We added a felony charge to any criminal who lures or entices a REALTORreg to a property with the intent to do harm
The added felony will increase a criminalrsquos sentence by up to 6 years The 1-6 years are the statutory sentencing guidelines
Save $150 - $500hr on attorneysrsquo fees We continued to refine legislation that allows property managers to represent your clients in General District court
without needing an attorney So how much would your attorney charge per hour Typically attorney fees range from $150 - $500hr
$12000 back to consumers Under a new law that VAR drafted we have made it easier for Virginia consumers who have received a court judgment to
collect damages from the Real Estate Transaction Recovery Fund The average claim is approximately $12000 The $12000 figure is an estimate by the DPOR finance staff on the average claim that comes before the Board
Wiped out $200per Sign Fines We worked with a state legislator to prevent a proposal creating daily fines of $200 for any sign in any public right of
way How often do you use such signs for your listings 10 days for 1 sign = $2000 The $200 per sign was the language in the proposed bill VAR was able to stop
Keep RPAC of Virginia working for you Without your support RPAC cannot remain a powerful voice on key legislative issues Your dollars help us make our voice heard
Visit VirginiaRealtorsChoosecom
RPAC of VIRGINIA VICTORIES BY THE NUMBER$
RPAC makes a difference Just look at the numbers
PeninsulaREALTORreg Jan - Feb 2016page 32
January 2016 Virginia residential real estate sales showed typical industry seasonality January tends to be the slowest month for home sales and this year was particularly affected by catastrophic Winter Storm Jonas In spite of blizzard conditions that halted market activity for several days sales volume was nearly on par with the same month last year The value of transactions in January 2016 exceeded $174 billion an out performance of the previous January Median sales price rose 326 percent year-over-year and more than 7 per-cent from January 2014 Year-over-year elevation indicates sustainable market improvement Click here for the complete report httptinyurlcomj7k254s
Full service marketing amp innovative mobile platformsall designed with your business in mind
NMLS 176544 Member FDIC
MonarchWhere homebuying dreams take flight
PeninsulaREALTORreg Jan - Feb 2016page 33
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAIL
Featuring250 characters25 per lineEast WilmingtonRutherford Grand LakesArington Hills CoolidgeElrot Florence GilbertGold Canyon King andQueen Cedar CrestBristol Newport JacksonMadison ElbertvilleBarrowALL ACROSS NORTH AMERICA
THERealEstateBookreg
Volume 00 Issue 00
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAILTo see a sample listing on your smartphone Text T312634 to 85377
Learn more at RealEstateBookMediaKitcomFor FREE MAGAZINES or to ADVERTISE visit our website or call 800-841-3401
Bill McFallMarket Representative
The Market Leader in Hampton Roads VA amp North America
780 Pilot House Drive Building 400B Newport News VA 23606
office 757-873-6731 bull cell 757-286-6731 bull fax 757-273-8275email billmcfallcoxnet
wwwRealEstateBookHRcom
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Interested in advertising your company Click here for our 2016 Adverstising Information
or call us at 757-599-5222 today
PeninsulaREALTORreg Jan - Feb 2016page 34
The PeninsulaPerspective by Jim Wetzel RCE CEO
Nobody will ever deprive the American people of the right to vote except the American people themselves and the only way they could do this is by not voting
Franklin D Roosevelt
This past week I was honored to attend our REALTOR Legislative Meetings in Richmond VA together with our members arriving from all corners of the commonwealth We arrived with a common mission of taking our message to our legislators on the many ways we can improve the real estate industry and homeownership opportunities in our communities
With pride our members spoke of the improvements in the real estate indus-
try over the past year and highlighted our recommendations on how together REALTORS and our legislative partners can make things even better in the years ahead We highlighted important chang-es that we felt would make not only the industry better but the lives of all who call Virginia their home
We spoke together and our legislators listened We made a difference
On March 1st the process of selecting our next President of the United States begins We have listened to the debates been inundated by the media heard from the political commentators and heard the endorsements
Now it is time for us to speak We can make a difference one vote at a time
PeninsulaREALTORreg Jan - Feb 2016page 35
PeninsulaREALTORreg Jan - Feb 2016page 27
VPAR Peninsula Partners include the following loyal firms who have stepped up to support VPARevents and education throughout the year This program reflects a commitment to provide REALTORreg
members with the best business environment while connecting to industry professionals whoprovide valuable products and services It is designed to create a unique partnership between
sponsors and the Association where both members and sponsors benefit greatly through the abilityto network exchange ideas and conduct business
PeninsulaREALTORreg Jan - Feb 2016page 28
VPAR Members Supporting Our Communities atThe Poquoson Neighborhood Food Distribution
for the Peninsula Food Bank
PeninsulaREALTORreg Jan - Feb 2016page 29
CONTACT A LOCAL LOAN OFFICER AT 1-877-573-2324gt KIMBERLY CRESS EXT 21238gt LASHEKA PEARSON-PARKER EXT 21210gt NATASHA THOMAS EXT 21104
Federally insured by NCUA 100 financing loans include an additional funding fee which may be financed up to the maximum loan amount Product features subject to approval copy 2016 Navy Federal NFCU 13490 (2-16)
THEYrsquoLL ENJOY
gt no application feegt 100 financing optionsgt up to 6 seller contribution allowed
HELP YOUR CLIENTS UNLOCK THE DOOR TO THEIR FIRST HOME
13490_Peninsula_Realtor_Mag_Ad_2_162indd 1 2416 202 PM
PeninsulaREALTORreg Jan - Feb 2016page 30
smile you can have 2-10 Home Buyers Warrantyreg
on your team with our industry leading Home
Warranty Service Agreement
bull Over 55 million homes protected
bull Over 975 of claims paid
bull A Rating with the Better Business Bureau (BBB)
Carolyn Ricketts Account Executive5716068051| cricketts2-10com
Defeated a 500 Increase We helped to defeat a budget amendment that would have increased the deductible that property owners including
YOUR clients pay to have their leaking underground oil tanks cleaned up and repaired by 500 The current $500 deductible was proposed to go up to $2500
The petroleum tank increase was a budget amendment
Prison time 1 to 6 years We added a felony charge to any criminal who lures or entices a REALTORreg to a property with the intent to do harm
The added felony will increase a criminalrsquos sentence by up to 6 years The 1-6 years are the statutory sentencing guidelines
Save $150 - $500hr on attorneysrsquo fees We continued to refine legislation that allows property managers to represent your clients in General District court
without needing an attorney So how much would your attorney charge per hour Typically attorney fees range from $150 - $500hr
$12000 back to consumers Under a new law that VAR drafted we have made it easier for Virginia consumers who have received a court judgment to
collect damages from the Real Estate Transaction Recovery Fund The average claim is approximately $12000 The $12000 figure is an estimate by the DPOR finance staff on the average claim that comes before the Board
Wiped out $200per Sign Fines We worked with a state legislator to prevent a proposal creating daily fines of $200 for any sign in any public right of
way How often do you use such signs for your listings 10 days for 1 sign = $2000 The $200 per sign was the language in the proposed bill VAR was able to stop
Keep RPAC of Virginia working for you Without your support RPAC cannot remain a powerful voice on key legislative issues Your dollars help us make our voice heard
Visit VirginiaRealtorsChoosecom
RPAC of VIRGINIA VICTORIES BY THE NUMBER$
RPAC makes a difference Just look at the numbers
PeninsulaREALTORreg Jan - Feb 2016page 32
January 2016 Virginia residential real estate sales showed typical industry seasonality January tends to be the slowest month for home sales and this year was particularly affected by catastrophic Winter Storm Jonas In spite of blizzard conditions that halted market activity for several days sales volume was nearly on par with the same month last year The value of transactions in January 2016 exceeded $174 billion an out performance of the previous January Median sales price rose 326 percent year-over-year and more than 7 per-cent from January 2014 Year-over-year elevation indicates sustainable market improvement Click here for the complete report httptinyurlcomj7k254s
Full service marketing amp innovative mobile platformsall designed with your business in mind
NMLS 176544 Member FDIC
MonarchWhere homebuying dreams take flight
PeninsulaREALTORreg Jan - Feb 2016page 33
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAIL
Featuring250 characters25 per lineEast WilmingtonRutherford Grand LakesArington Hills CoolidgeElrot Florence GilbertGold Canyon King andQueen Cedar CrestBristol Newport JacksonMadison ElbertvilleBarrowALL ACROSS NORTH AMERICA
THERealEstateBookreg
Volume 00 Issue 00
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAILTo see a sample listing on your smartphone Text T312634 to 85377
Learn more at RealEstateBookMediaKitcomFor FREE MAGAZINES or to ADVERTISE visit our website or call 800-841-3401
Bill McFallMarket Representative
The Market Leader in Hampton Roads VA amp North America
780 Pilot House Drive Building 400B Newport News VA 23606
office 757-873-6731 bull cell 757-286-6731 bull fax 757-273-8275email billmcfallcoxnet
wwwRealEstateBookHRcom
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Interested in advertising your company Click here for our 2016 Adverstising Information
or call us at 757-599-5222 today
PeninsulaREALTORreg Jan - Feb 2016page 34
The PeninsulaPerspective by Jim Wetzel RCE CEO
Nobody will ever deprive the American people of the right to vote except the American people themselves and the only way they could do this is by not voting
Franklin D Roosevelt
This past week I was honored to attend our REALTOR Legislative Meetings in Richmond VA together with our members arriving from all corners of the commonwealth We arrived with a common mission of taking our message to our legislators on the many ways we can improve the real estate industry and homeownership opportunities in our communities
With pride our members spoke of the improvements in the real estate indus-
try over the past year and highlighted our recommendations on how together REALTORS and our legislative partners can make things even better in the years ahead We highlighted important chang-es that we felt would make not only the industry better but the lives of all who call Virginia their home
We spoke together and our legislators listened We made a difference
On March 1st the process of selecting our next President of the United States begins We have listened to the debates been inundated by the media heard from the political commentators and heard the endorsements
Now it is time for us to speak We can make a difference one vote at a time
PeninsulaREALTORreg Jan - Feb 2016page 35
PeninsulaREALTORreg Jan - Feb 2016page 28
VPAR Members Supporting Our Communities atThe Poquoson Neighborhood Food Distribution
for the Peninsula Food Bank
PeninsulaREALTORreg Jan - Feb 2016page 29
CONTACT A LOCAL LOAN OFFICER AT 1-877-573-2324gt KIMBERLY CRESS EXT 21238gt LASHEKA PEARSON-PARKER EXT 21210gt NATASHA THOMAS EXT 21104
Federally insured by NCUA 100 financing loans include an additional funding fee which may be financed up to the maximum loan amount Product features subject to approval copy 2016 Navy Federal NFCU 13490 (2-16)
THEYrsquoLL ENJOY
gt no application feegt 100 financing optionsgt up to 6 seller contribution allowed
HELP YOUR CLIENTS UNLOCK THE DOOR TO THEIR FIRST HOME
13490_Peninsula_Realtor_Mag_Ad_2_162indd 1 2416 202 PM
PeninsulaREALTORreg Jan - Feb 2016page 30
smile you can have 2-10 Home Buyers Warrantyreg
on your team with our industry leading Home
Warranty Service Agreement
bull Over 55 million homes protected
bull Over 975 of claims paid
bull A Rating with the Better Business Bureau (BBB)
Carolyn Ricketts Account Executive5716068051| cricketts2-10com
Defeated a 500 Increase We helped to defeat a budget amendment that would have increased the deductible that property owners including
YOUR clients pay to have their leaking underground oil tanks cleaned up and repaired by 500 The current $500 deductible was proposed to go up to $2500
The petroleum tank increase was a budget amendment
Prison time 1 to 6 years We added a felony charge to any criminal who lures or entices a REALTORreg to a property with the intent to do harm
The added felony will increase a criminalrsquos sentence by up to 6 years The 1-6 years are the statutory sentencing guidelines
Save $150 - $500hr on attorneysrsquo fees We continued to refine legislation that allows property managers to represent your clients in General District court
without needing an attorney So how much would your attorney charge per hour Typically attorney fees range from $150 - $500hr
$12000 back to consumers Under a new law that VAR drafted we have made it easier for Virginia consumers who have received a court judgment to
collect damages from the Real Estate Transaction Recovery Fund The average claim is approximately $12000 The $12000 figure is an estimate by the DPOR finance staff on the average claim that comes before the Board
Wiped out $200per Sign Fines We worked with a state legislator to prevent a proposal creating daily fines of $200 for any sign in any public right of
way How often do you use such signs for your listings 10 days for 1 sign = $2000 The $200 per sign was the language in the proposed bill VAR was able to stop
Keep RPAC of Virginia working for you Without your support RPAC cannot remain a powerful voice on key legislative issues Your dollars help us make our voice heard
Visit VirginiaRealtorsChoosecom
RPAC of VIRGINIA VICTORIES BY THE NUMBER$
RPAC makes a difference Just look at the numbers
PeninsulaREALTORreg Jan - Feb 2016page 32
January 2016 Virginia residential real estate sales showed typical industry seasonality January tends to be the slowest month for home sales and this year was particularly affected by catastrophic Winter Storm Jonas In spite of blizzard conditions that halted market activity for several days sales volume was nearly on par with the same month last year The value of transactions in January 2016 exceeded $174 billion an out performance of the previous January Median sales price rose 326 percent year-over-year and more than 7 per-cent from January 2014 Year-over-year elevation indicates sustainable market improvement Click here for the complete report httptinyurlcomj7k254s
Full service marketing amp innovative mobile platformsall designed with your business in mind
NMLS 176544 Member FDIC
MonarchWhere homebuying dreams take flight
PeninsulaREALTORreg Jan - Feb 2016page 33
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAIL
Featuring250 characters25 per lineEast WilmingtonRutherford Grand LakesArington Hills CoolidgeElrot Florence GilbertGold Canyon King andQueen Cedar CrestBristol Newport JacksonMadison ElbertvilleBarrowALL ACROSS NORTH AMERICA
THERealEstateBookreg
Volume 00 Issue 00
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAILTo see a sample listing on your smartphone Text T312634 to 85377
Learn more at RealEstateBookMediaKitcomFor FREE MAGAZINES or to ADVERTISE visit our website or call 800-841-3401
Bill McFallMarket Representative
The Market Leader in Hampton Roads VA amp North America
780 Pilot House Drive Building 400B Newport News VA 23606
office 757-873-6731 bull cell 757-286-6731 bull fax 757-273-8275email billmcfallcoxnet
wwwRealEstateBookHRcom
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Interested in advertising your company Click here for our 2016 Adverstising Information
or call us at 757-599-5222 today
PeninsulaREALTORreg Jan - Feb 2016page 34
The PeninsulaPerspective by Jim Wetzel RCE CEO
Nobody will ever deprive the American people of the right to vote except the American people themselves and the only way they could do this is by not voting
Franklin D Roosevelt
This past week I was honored to attend our REALTOR Legislative Meetings in Richmond VA together with our members arriving from all corners of the commonwealth We arrived with a common mission of taking our message to our legislators on the many ways we can improve the real estate industry and homeownership opportunities in our communities
With pride our members spoke of the improvements in the real estate indus-
try over the past year and highlighted our recommendations on how together REALTORS and our legislative partners can make things even better in the years ahead We highlighted important chang-es that we felt would make not only the industry better but the lives of all who call Virginia their home
We spoke together and our legislators listened We made a difference
On March 1st the process of selecting our next President of the United States begins We have listened to the debates been inundated by the media heard from the political commentators and heard the endorsements
Now it is time for us to speak We can make a difference one vote at a time
PeninsulaREALTORreg Jan - Feb 2016page 35
PeninsulaREALTORreg Jan - Feb 2016page 29
CONTACT A LOCAL LOAN OFFICER AT 1-877-573-2324gt KIMBERLY CRESS EXT 21238gt LASHEKA PEARSON-PARKER EXT 21210gt NATASHA THOMAS EXT 21104
Federally insured by NCUA 100 financing loans include an additional funding fee which may be financed up to the maximum loan amount Product features subject to approval copy 2016 Navy Federal NFCU 13490 (2-16)
THEYrsquoLL ENJOY
gt no application feegt 100 financing optionsgt up to 6 seller contribution allowed
HELP YOUR CLIENTS UNLOCK THE DOOR TO THEIR FIRST HOME
13490_Peninsula_Realtor_Mag_Ad_2_162indd 1 2416 202 PM
PeninsulaREALTORreg Jan - Feb 2016page 30
smile you can have 2-10 Home Buyers Warrantyreg
on your team with our industry leading Home
Warranty Service Agreement
bull Over 55 million homes protected
bull Over 975 of claims paid
bull A Rating with the Better Business Bureau (BBB)
Carolyn Ricketts Account Executive5716068051| cricketts2-10com
Defeated a 500 Increase We helped to defeat a budget amendment that would have increased the deductible that property owners including
YOUR clients pay to have their leaking underground oil tanks cleaned up and repaired by 500 The current $500 deductible was proposed to go up to $2500
The petroleum tank increase was a budget amendment
Prison time 1 to 6 years We added a felony charge to any criminal who lures or entices a REALTORreg to a property with the intent to do harm
The added felony will increase a criminalrsquos sentence by up to 6 years The 1-6 years are the statutory sentencing guidelines
Save $150 - $500hr on attorneysrsquo fees We continued to refine legislation that allows property managers to represent your clients in General District court
without needing an attorney So how much would your attorney charge per hour Typically attorney fees range from $150 - $500hr
$12000 back to consumers Under a new law that VAR drafted we have made it easier for Virginia consumers who have received a court judgment to
collect damages from the Real Estate Transaction Recovery Fund The average claim is approximately $12000 The $12000 figure is an estimate by the DPOR finance staff on the average claim that comes before the Board
Wiped out $200per Sign Fines We worked with a state legislator to prevent a proposal creating daily fines of $200 for any sign in any public right of
way How often do you use such signs for your listings 10 days for 1 sign = $2000 The $200 per sign was the language in the proposed bill VAR was able to stop
Keep RPAC of Virginia working for you Without your support RPAC cannot remain a powerful voice on key legislative issues Your dollars help us make our voice heard
Visit VirginiaRealtorsChoosecom
RPAC of VIRGINIA VICTORIES BY THE NUMBER$
RPAC makes a difference Just look at the numbers
PeninsulaREALTORreg Jan - Feb 2016page 32
January 2016 Virginia residential real estate sales showed typical industry seasonality January tends to be the slowest month for home sales and this year was particularly affected by catastrophic Winter Storm Jonas In spite of blizzard conditions that halted market activity for several days sales volume was nearly on par with the same month last year The value of transactions in January 2016 exceeded $174 billion an out performance of the previous January Median sales price rose 326 percent year-over-year and more than 7 per-cent from January 2014 Year-over-year elevation indicates sustainable market improvement Click here for the complete report httptinyurlcomj7k254s
Full service marketing amp innovative mobile platformsall designed with your business in mind
NMLS 176544 Member FDIC
MonarchWhere homebuying dreams take flight
PeninsulaREALTORreg Jan - Feb 2016page 33
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAIL
Featuring250 characters25 per lineEast WilmingtonRutherford Grand LakesArington Hills CoolidgeElrot Florence GilbertGold Canyon King andQueen Cedar CrestBristol Newport JacksonMadison ElbertvilleBarrowALL ACROSS NORTH AMERICA
THERealEstateBookreg
Volume 00 Issue 00
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAILTo see a sample listing on your smartphone Text T312634 to 85377
Learn more at RealEstateBookMediaKitcomFor FREE MAGAZINES or to ADVERTISE visit our website or call 800-841-3401
Bill McFallMarket Representative
The Market Leader in Hampton Roads VA amp North America
780 Pilot House Drive Building 400B Newport News VA 23606
office 757-873-6731 bull cell 757-286-6731 bull fax 757-273-8275email billmcfallcoxnet
wwwRealEstateBookHRcom
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Interested in advertising your company Click here for our 2016 Adverstising Information
or call us at 757-599-5222 today
PeninsulaREALTORreg Jan - Feb 2016page 34
The PeninsulaPerspective by Jim Wetzel RCE CEO
Nobody will ever deprive the American people of the right to vote except the American people themselves and the only way they could do this is by not voting
Franklin D Roosevelt
This past week I was honored to attend our REALTOR Legislative Meetings in Richmond VA together with our members arriving from all corners of the commonwealth We arrived with a common mission of taking our message to our legislators on the many ways we can improve the real estate industry and homeownership opportunities in our communities
With pride our members spoke of the improvements in the real estate indus-
try over the past year and highlighted our recommendations on how together REALTORS and our legislative partners can make things even better in the years ahead We highlighted important chang-es that we felt would make not only the industry better but the lives of all who call Virginia their home
We spoke together and our legislators listened We made a difference
On March 1st the process of selecting our next President of the United States begins We have listened to the debates been inundated by the media heard from the political commentators and heard the endorsements
Now it is time for us to speak We can make a difference one vote at a time
PeninsulaREALTORreg Jan - Feb 2016page 35
PeninsulaREALTORreg Jan - Feb 2016page 30
smile you can have 2-10 Home Buyers Warrantyreg
on your team with our industry leading Home
Warranty Service Agreement
bull Over 55 million homes protected
bull Over 975 of claims paid
bull A Rating with the Better Business Bureau (BBB)
Carolyn Ricketts Account Executive5716068051| cricketts2-10com
Defeated a 500 Increase We helped to defeat a budget amendment that would have increased the deductible that property owners including
YOUR clients pay to have their leaking underground oil tanks cleaned up and repaired by 500 The current $500 deductible was proposed to go up to $2500
The petroleum tank increase was a budget amendment
Prison time 1 to 6 years We added a felony charge to any criminal who lures or entices a REALTORreg to a property with the intent to do harm
The added felony will increase a criminalrsquos sentence by up to 6 years The 1-6 years are the statutory sentencing guidelines
Save $150 - $500hr on attorneysrsquo fees We continued to refine legislation that allows property managers to represent your clients in General District court
without needing an attorney So how much would your attorney charge per hour Typically attorney fees range from $150 - $500hr
$12000 back to consumers Under a new law that VAR drafted we have made it easier for Virginia consumers who have received a court judgment to
collect damages from the Real Estate Transaction Recovery Fund The average claim is approximately $12000 The $12000 figure is an estimate by the DPOR finance staff on the average claim that comes before the Board
Wiped out $200per Sign Fines We worked with a state legislator to prevent a proposal creating daily fines of $200 for any sign in any public right of
way How often do you use such signs for your listings 10 days for 1 sign = $2000 The $200 per sign was the language in the proposed bill VAR was able to stop
Keep RPAC of Virginia working for you Without your support RPAC cannot remain a powerful voice on key legislative issues Your dollars help us make our voice heard
Visit VirginiaRealtorsChoosecom
RPAC of VIRGINIA VICTORIES BY THE NUMBER$
RPAC makes a difference Just look at the numbers
PeninsulaREALTORreg Jan - Feb 2016page 32
January 2016 Virginia residential real estate sales showed typical industry seasonality January tends to be the slowest month for home sales and this year was particularly affected by catastrophic Winter Storm Jonas In spite of blizzard conditions that halted market activity for several days sales volume was nearly on par with the same month last year The value of transactions in January 2016 exceeded $174 billion an out performance of the previous January Median sales price rose 326 percent year-over-year and more than 7 per-cent from January 2014 Year-over-year elevation indicates sustainable market improvement Click here for the complete report httptinyurlcomj7k254s
Full service marketing amp innovative mobile platformsall designed with your business in mind
NMLS 176544 Member FDIC
MonarchWhere homebuying dreams take flight
PeninsulaREALTORreg Jan - Feb 2016page 33
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAIL
Featuring250 characters25 per lineEast WilmingtonRutherford Grand LakesArington Hills CoolidgeElrot Florence GilbertGold Canyon King andQueen Cedar CrestBristol Newport JacksonMadison ElbertvilleBarrowALL ACROSS NORTH AMERICA
THERealEstateBookreg
Volume 00 Issue 00
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAILTo see a sample listing on your smartphone Text T312634 to 85377
Learn more at RealEstateBookMediaKitcomFor FREE MAGAZINES or to ADVERTISE visit our website or call 800-841-3401
Bill McFallMarket Representative
The Market Leader in Hampton Roads VA amp North America
780 Pilot House Drive Building 400B Newport News VA 23606
office 757-873-6731 bull cell 757-286-6731 bull fax 757-273-8275email billmcfallcoxnet
wwwRealEstateBookHRcom
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Interested in advertising your company Click here for our 2016 Adverstising Information
or call us at 757-599-5222 today
PeninsulaREALTORreg Jan - Feb 2016page 34
The PeninsulaPerspective by Jim Wetzel RCE CEO
Nobody will ever deprive the American people of the right to vote except the American people themselves and the only way they could do this is by not voting
Franklin D Roosevelt
This past week I was honored to attend our REALTOR Legislative Meetings in Richmond VA together with our members arriving from all corners of the commonwealth We arrived with a common mission of taking our message to our legislators on the many ways we can improve the real estate industry and homeownership opportunities in our communities
With pride our members spoke of the improvements in the real estate indus-
try over the past year and highlighted our recommendations on how together REALTORS and our legislative partners can make things even better in the years ahead We highlighted important chang-es that we felt would make not only the industry better but the lives of all who call Virginia their home
We spoke together and our legislators listened We made a difference
On March 1st the process of selecting our next President of the United States begins We have listened to the debates been inundated by the media heard from the political commentators and heard the endorsements
Now it is time for us to speak We can make a difference one vote at a time
PeninsulaREALTORreg Jan - Feb 2016page 35
Defeated a 500 Increase We helped to defeat a budget amendment that would have increased the deductible that property owners including
YOUR clients pay to have their leaking underground oil tanks cleaned up and repaired by 500 The current $500 deductible was proposed to go up to $2500
The petroleum tank increase was a budget amendment
Prison time 1 to 6 years We added a felony charge to any criminal who lures or entices a REALTORreg to a property with the intent to do harm
The added felony will increase a criminalrsquos sentence by up to 6 years The 1-6 years are the statutory sentencing guidelines
Save $150 - $500hr on attorneysrsquo fees We continued to refine legislation that allows property managers to represent your clients in General District court
without needing an attorney So how much would your attorney charge per hour Typically attorney fees range from $150 - $500hr
$12000 back to consumers Under a new law that VAR drafted we have made it easier for Virginia consumers who have received a court judgment to
collect damages from the Real Estate Transaction Recovery Fund The average claim is approximately $12000 The $12000 figure is an estimate by the DPOR finance staff on the average claim that comes before the Board
Wiped out $200per Sign Fines We worked with a state legislator to prevent a proposal creating daily fines of $200 for any sign in any public right of
way How often do you use such signs for your listings 10 days for 1 sign = $2000 The $200 per sign was the language in the proposed bill VAR was able to stop
Keep RPAC of Virginia working for you Without your support RPAC cannot remain a powerful voice on key legislative issues Your dollars help us make our voice heard
Visit VirginiaRealtorsChoosecom
RPAC of VIRGINIA VICTORIES BY THE NUMBER$
RPAC makes a difference Just look at the numbers
PeninsulaREALTORreg Jan - Feb 2016page 32
January 2016 Virginia residential real estate sales showed typical industry seasonality January tends to be the slowest month for home sales and this year was particularly affected by catastrophic Winter Storm Jonas In spite of blizzard conditions that halted market activity for several days sales volume was nearly on par with the same month last year The value of transactions in January 2016 exceeded $174 billion an out performance of the previous January Median sales price rose 326 percent year-over-year and more than 7 per-cent from January 2014 Year-over-year elevation indicates sustainable market improvement Click here for the complete report httptinyurlcomj7k254s
Full service marketing amp innovative mobile platformsall designed with your business in mind
NMLS 176544 Member FDIC
MonarchWhere homebuying dreams take flight
PeninsulaREALTORreg Jan - Feb 2016page 33
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAIL
Featuring250 characters25 per lineEast WilmingtonRutherford Grand LakesArington Hills CoolidgeElrot Florence GilbertGold Canyon King andQueen Cedar CrestBristol Newport JacksonMadison ElbertvilleBarrowALL ACROSS NORTH AMERICA
THERealEstateBookreg
Volume 00 Issue 00
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAILTo see a sample listing on your smartphone Text T312634 to 85377
Learn more at RealEstateBookMediaKitcomFor FREE MAGAZINES or to ADVERTISE visit our website or call 800-841-3401
Bill McFallMarket Representative
The Market Leader in Hampton Roads VA amp North America
780 Pilot House Drive Building 400B Newport News VA 23606
office 757-873-6731 bull cell 757-286-6731 bull fax 757-273-8275email billmcfallcoxnet
wwwRealEstateBookHRcom
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Interested in advertising your company Click here for our 2016 Adverstising Information
or call us at 757-599-5222 today
PeninsulaREALTORreg Jan - Feb 2016page 34
The PeninsulaPerspective by Jim Wetzel RCE CEO
Nobody will ever deprive the American people of the right to vote except the American people themselves and the only way they could do this is by not voting
Franklin D Roosevelt
This past week I was honored to attend our REALTOR Legislative Meetings in Richmond VA together with our members arriving from all corners of the commonwealth We arrived with a common mission of taking our message to our legislators on the many ways we can improve the real estate industry and homeownership opportunities in our communities
With pride our members spoke of the improvements in the real estate indus-
try over the past year and highlighted our recommendations on how together REALTORS and our legislative partners can make things even better in the years ahead We highlighted important chang-es that we felt would make not only the industry better but the lives of all who call Virginia their home
We spoke together and our legislators listened We made a difference
On March 1st the process of selecting our next President of the United States begins We have listened to the debates been inundated by the media heard from the political commentators and heard the endorsements
Now it is time for us to speak We can make a difference one vote at a time
PeninsulaREALTORreg Jan - Feb 2016page 35
PeninsulaREALTORreg Jan - Feb 2016page 32
January 2016 Virginia residential real estate sales showed typical industry seasonality January tends to be the slowest month for home sales and this year was particularly affected by catastrophic Winter Storm Jonas In spite of blizzard conditions that halted market activity for several days sales volume was nearly on par with the same month last year The value of transactions in January 2016 exceeded $174 billion an out performance of the previous January Median sales price rose 326 percent year-over-year and more than 7 per-cent from January 2014 Year-over-year elevation indicates sustainable market improvement Click here for the complete report httptinyurlcomj7k254s
Full service marketing amp innovative mobile platformsall designed with your business in mind
NMLS 176544 Member FDIC
MonarchWhere homebuying dreams take flight
PeninsulaREALTORreg Jan - Feb 2016page 33
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAIL
Featuring250 characters25 per lineEast WilmingtonRutherford Grand LakesArington Hills CoolidgeElrot Florence GilbertGold Canyon King andQueen Cedar CrestBristol Newport JacksonMadison ElbertvilleBarrowALL ACROSS NORTH AMERICA
THERealEstateBookreg
Volume 00 Issue 00
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAILTo see a sample listing on your smartphone Text T312634 to 85377
Learn more at RealEstateBookMediaKitcomFor FREE MAGAZINES or to ADVERTISE visit our website or call 800-841-3401
Bill McFallMarket Representative
The Market Leader in Hampton Roads VA amp North America
780 Pilot House Drive Building 400B Newport News VA 23606
office 757-873-6731 bull cell 757-286-6731 bull fax 757-273-8275email billmcfallcoxnet
wwwRealEstateBookHRcom
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Interested in advertising your company Click here for our 2016 Adverstising Information
or call us at 757-599-5222 today
PeninsulaREALTORreg Jan - Feb 2016page 34
The PeninsulaPerspective by Jim Wetzel RCE CEO
Nobody will ever deprive the American people of the right to vote except the American people themselves and the only way they could do this is by not voting
Franklin D Roosevelt
This past week I was honored to attend our REALTOR Legislative Meetings in Richmond VA together with our members arriving from all corners of the commonwealth We arrived with a common mission of taking our message to our legislators on the many ways we can improve the real estate industry and homeownership opportunities in our communities
With pride our members spoke of the improvements in the real estate indus-
try over the past year and highlighted our recommendations on how together REALTORS and our legislative partners can make things even better in the years ahead We highlighted important chang-es that we felt would make not only the industry better but the lives of all who call Virginia their home
We spoke together and our legislators listened We made a difference
On March 1st the process of selecting our next President of the United States begins We have listened to the debates been inundated by the media heard from the political commentators and heard the endorsements
Now it is time for us to speak We can make a difference one vote at a time
PeninsulaREALTORreg Jan - Feb 2016page 35
PeninsulaREALTORreg Jan - Feb 2016page 33
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAIL
Featuring250 characters25 per lineEast WilmingtonRutherford Grand LakesArington Hills CoolidgeElrot Florence GilbertGold Canyon King andQueen Cedar CrestBristol Newport JacksonMadison ElbertvilleBarrowALL ACROSS NORTH AMERICA
THERealEstateBookreg
Volume 00 Issue 00
RealEstateBookcomPRINT - WEB - MOBILE - SOCIAL - DIRECT MAILTo see a sample listing on your smartphone Text T312634 to 85377
Learn more at RealEstateBookMediaKitcomFor FREE MAGAZINES or to ADVERTISE visit our website or call 800-841-3401
Bill McFallMarket Representative
The Market Leader in Hampton Roads VA amp North America
780 Pilot House Drive Building 400B Newport News VA 23606
office 757-873-6731 bull cell 757-286-6731 bull fax 757-273-8275email billmcfallcoxnet
wwwRealEstateBookHRcom
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Termite Control Warranty Termite amp Moisture Inspection Reports Termite amp Moisture Damage Repairs Integrated Pest Management Bee amp Wasp Treatment amp Removal Specialized Rodent Control Prompt amp Quality Service
Bed Bug Service Dehumidifier Sales and Installation Moisture amp Fungus Control Review of Inspection Report with Agent Property
Manager ADVANCE Termite Colony Elimination System
Reach us on the Peninsula and Southside
Phone 757-599-3621 Fax 599-5867
Email bugmasternationalexterminatingcom
ldquoRecognized in the Top 100 exterminating companies nationwide by PCT since 2003rdquo
ldquoDelivering quality services and value to all of our customers with consistent output and continuous attention to detailrdquo
12484 Warwick Boulevard Newport News VA 23606
SPECIALIZING IN TERMITE AND PEST CONTROL WARRANTY FOR SOUTHEASTERN VIRGINIA
Interested in advertising your company Click here for our 2016 Adverstising Information
or call us at 757-599-5222 today
PeninsulaREALTORreg Jan - Feb 2016page 34
The PeninsulaPerspective by Jim Wetzel RCE CEO
Nobody will ever deprive the American people of the right to vote except the American people themselves and the only way they could do this is by not voting
Franklin D Roosevelt
This past week I was honored to attend our REALTOR Legislative Meetings in Richmond VA together with our members arriving from all corners of the commonwealth We arrived with a common mission of taking our message to our legislators on the many ways we can improve the real estate industry and homeownership opportunities in our communities
With pride our members spoke of the improvements in the real estate indus-
try over the past year and highlighted our recommendations on how together REALTORS and our legislative partners can make things even better in the years ahead We highlighted important chang-es that we felt would make not only the industry better but the lives of all who call Virginia their home
We spoke together and our legislators listened We made a difference
On March 1st the process of selecting our next President of the United States begins We have listened to the debates been inundated by the media heard from the political commentators and heard the endorsements
Now it is time for us to speak We can make a difference one vote at a time
PeninsulaREALTORreg Jan - Feb 2016page 35
PeninsulaREALTORreg Jan - Feb 2016page 34
The PeninsulaPerspective by Jim Wetzel RCE CEO
Nobody will ever deprive the American people of the right to vote except the American people themselves and the only way they could do this is by not voting
Franklin D Roosevelt
This past week I was honored to attend our REALTOR Legislative Meetings in Richmond VA together with our members arriving from all corners of the commonwealth We arrived with a common mission of taking our message to our legislators on the many ways we can improve the real estate industry and homeownership opportunities in our communities
With pride our members spoke of the improvements in the real estate indus-
try over the past year and highlighted our recommendations on how together REALTORS and our legislative partners can make things even better in the years ahead We highlighted important chang-es that we felt would make not only the industry better but the lives of all who call Virginia their home
We spoke together and our legislators listened We made a difference
On March 1st the process of selecting our next President of the United States begins We have listened to the debates been inundated by the media heard from the political commentators and heard the endorsements
Now it is time for us to speak We can make a difference one vote at a time
PeninsulaREALTORreg Jan - Feb 2016page 35
PeninsulaREALTORreg Jan - Feb 2016page 35