- Diversity Panel Feat. NAHREP & The LGBTQ+ Real Estate Alliance Coming to Tri-County in October
- Consumer Guides to the NAR Settlement
- Aiding and Abetting Fraud
- Job Posting - Full/Part Time Assistant Needed
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Secure Your Ticket Before They Are Gone - 2024 Annual Membership Meeting
- Bright MLS: FHA Loans in a Transitioning Market
- SRA: Easttown Township Approves 0.5% Earned Income Tax
- Calendar of Events
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Diversity Panel Feat. NAHREP & The LGBTQ+ Real Estate Alliance Coming to Tri-County in October |
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In 2024, local chapters of the LGBTQ+ Real Estate Alliance and the National Association of Hispanic Real Estate Professionals were formed. Tri-County’s Diversity and Inclusion Committee is excited to bring everyone together for fun, friendship and education.
This event is an opportunity to learn more about the past, present and future of the Hispanic and LGBTQ+ communities; to celebrate their achievements; and discover how REALTORS® can engage in meaningful ways.
This in-person event take place on Wednesday, October 16, 2024 from 11:30 am to 1:30 pm. Seating is limited, registration is required. Click the link here to reserve your space today!
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Consumer Guides to the NAR Settlement |
The changes brought about by the NAR Settlement of Seller lawsuits require REALTORS® to bring more transparency to the compensation conversation and to bring that conversation to the beginning of the relationship. For some REALTORS® and their clients this shift is a big one. Talking about compensation, especially buyer agent compensation, has been shunned by REALTORS® and their clients nationwide.
Recognizing the need for support to make the compensation conversation second nature, NAR offers a series of consumer guides designed to assist in educating consumers and to start the necessary conversations. The newest guide, “Offers of Compensation” for sellers covers the process and options available for offering compensation to a buyer’s agent and the reasons why this may be a compelling strategy for sellers to consider when marketing their property. Another guide helps buyers understand why they are being asked to sign a written buyer agreement.
NAR plans to release a new guide each week. Find links to other NAR, PAR and BRIGHT MLS resources at Tri-County’s NAR Litigation Settlement Page.
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Aiding and Abetting Fraud |
According to a recent Pennsylvania Supreme Court case, “a showing of “intentional ignorance” or “willful blindness” could establish actual knowledge on the part of the one assisting” another. To avoid being held accountable for a client’s deception, a REALTOR® must be aware of potential red flags in a transaction and engage in, sometimes difficult, conversations when circumstances don’t make sense.
An example provided by PAR’s legal hotline attorney, Desiree Brougher in PAR JustListed involves an incomplete Seller Disclosure. Although the responsibility of the seller to complete, a REALTOR® could be responsible for an incomplete form or incorrect information. Ms. Brougher shares that “there are multiple opportunities for fraud in a real estate transaction – bad checks for deposits, fake names of buyers or tenants, mortgage and lending, stolen title, etc.” Don’t ignore your instincts in these situations.
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Secure Your Ticket Before They Are Gone - 2024 Annual Membership Meeting |
Tri-County Suburban REALTORS® will host its 2024 Annual Membership Meeting at Springfield Country Club on October 23rd, 2024!
The Association will welcome David Wasserman, senior editor and election analyst. David has served as an analyst for the NBC News Decision Desk in every election since 2008 and has also appeared on Fox News, CNN, C-SPAN, and NPR. In a lively, entertaining and strictly non-partisan presentation, Wasserman will cut through the spin and offer a data-driven forecast of how the upcoming election might unfold. Wasserman draws on his extensive interviews with both parties’ candidates and strategists to shed light on the top issues on voters’ minds and even how retail habits can predict voting behavior.
“Sure to leave audiences of business leaders, grassroots advocates, and non-political junkies alike buzzing!”
The event will feature a plated lunch, a short Association business meeting and will also highlight:
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- an Affiliate Expo
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Induction ceremony of the 2024 REALTOR® Emeritus class
- Recognition ceremony of the 2024 Leadership Development Program graduates
- Recognition ceremony of the 2024 “Making a Difference: Community Service Awards” winners (Accepting applications through September 30th, 2024)
- The last chance to vote for the 2025 Tri-County Suburban REALTORS® Board of Directors candidates
- Networking with local REALTOR® and Affiliate members
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Don’t miss this premier membership event on October 23rd in Springfield.
Register today as tickets will sell out!
All members are welcome.
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Job Posting - Full/Part Time Assistant |
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Full or part time assistant needed for real estate team in West Chester, PA. Candidate needs experience in Bright MLS, Data Entry, MS Office, tech savvy and well organized. All inquiries will be kept confidential. Email resumes here. For questions, please call or text 610-836-2348.
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Bright MLS: FHA Loans In A Transitioning Market |
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As affordability challenges grow, FHA loans remain a viable option for buyers feeling the pressure of high home prices.
Loans administered by the Federal Housing Administration—FHA loans—remain a robust financing option, especially in regions with more affordable housing. FHA loans offer low down payments, low closing costs, and relatively easy credit qualification. As a result, they are a popular option for first-time buyers. Through August 2024, 11.5% of homes purchased in the Bright MLS service area were financed with an FHA loan.
Despite rising affordability challenges, the share of home sales in the Mid-Atlantic that used an FHA loan has remained steady
The number of home sale transactions has slowed over the past year as higher home prices and elevated mortgage rates have shut some buyers out of the market. While sales have slowed, the share of buyers using an FHA loan has not changed significantly over the past three years.
There were 32.3% fewer sales in Q2 2024 than there were in Q2 2021. Though sales have declined due to the aforementioned price, supply, and mortgage rate market constraints, the share of FHA loans in the Mid-Atlantic has stayed relatively consistent at around 11%. The FHA loan uptake was less in Q2 2024 than it was in Q2 2023, but these loans have maintained a predictable resiliency for buyers with short savings or other financial challenges while in the homebuying process.
Read the full article on brightmls.com, linked here.
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SRA: Easttown Township Approves 0.5% Earned Income Tax |
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Easttown Township supervisors voted on Aug. 19 to enact an earned income tax (EIT) of 0.5%. The tax will be levied on earned income or net profits derived from individual residents of the township, and from nonresidents of the township from any business done in the township. The EIT will take effect in 2025. The 0.5% rate equals about $925 per year for a wage-earner making about $185,000, which is Easttown residents’ average annual wage, according to a revenue study commissioned jointly by Tredyffrin and Easttown last year. Read more on the August vote here. The township had previously considered an EIT last year, but supervisors voted it down, 3-2, at that time.
Source: Savvy Main Line; 8/21/2024
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