September 25, 2024

Membership dues continue to provide access to valuable benefits like: Lone Wolf Transactions (zipForm Edition) ($425 value), DocuSign ($240 value), Municipal Information Database ($200 value), Tech Helpline ($250 value), RISMedia ($249 value), FOREWARN ($300 value), and more. Tri-County Suburban REALTORS® is committed to providing the most benefits for your dues dollars and greatly appreciates your continued membership.

Beginning on October 1, 2024, members can access their dues invoice and pay their dues online via their secure online portal. Once logged in, members are taken directly to the My Orders page which will feature an Unpaid Order for their 2025 Membership Dues. Members may click on the “2025 Tri-County Suburban REALTORS® Annual Dues” link to view their invoice.

Please note that there is no automatic bill pay for membership dues.
All membership dues (Tri-County Suburban REALTORS®, the Pennsylvania Association of REALTORS® and the National Association of REALTORS®) are NOT refundable or transferrable.

Members may choose to pay in full, or via installment plan.

Questions on membership dues and renewal?
Please email duesbilling@tcsr.realtor or call 610-560-4800. 
Please visit tcsr.realtor/membership/duesbilling2025 for all REALTOR® membership dues information.

The Pennsylvania Association of REALTORS® recognized three members for their dedication and service to the industry during the board of directors meeting in Harrisburg last week. Award recipients were: Sherrie Miller of the Greater Scranton Board, received the Lifetime Achievement Award; Glenn Yoder of the Lancaster County Association received the REALTOR® Active in Politics Award, and Helen Miernicki of Tri-County Suburban REALTORS® received the REALTOR® of the Year Award.

Miernicki was honored for her meritorious contributions to the real estate community. A REALTOR® for 38 years, she previously served as a PAR District Vice President, as well as on numerous committees and task forces. These include the Education Foundation Committee, Legislative Committee and REALTORS® Political Action Committee trustees. She is also a graduate of the LeadershipPAR® program.

In addition to being active at the state level, Miernicki served as president of the Schuylkill County Board of REALTORS®, and Tri-County Suburban REALTORS in , and has chaired committees including the Legislative, Community Service and Nominating. 

Miernicki served for six years as a member of the Frackville Borough Council and is the past Schuylkill County Land Bank administrator, working with a task force to review blighted properties. She also coordinated the creation of Lincoln Park in Frackville, helping to receive a National Association of REALTORS® Placemaking Grant in 2016.

When asked what being awarded REALTOR® of the Year means to her, Helen shared, "My involvement regarding the activities needed to achieve this award were done with passion. I became involved to make a difference. I am grateful for so many friends that helped me with the projects and committee demands. It is true that when I received this award I said that it is our award as PAR® brought out the best person that I could be. That is true leadership."

Helen got her start in the industry 38 years ago while working for Exxon. She shared that, "as a corporation they paid for any education as long as the employee passed the final exam. I decided to take the real estate classes that were offered in my area. That's how it all started." "There were many hours over the past 38 years devoted to helping our organization. That developed into reaching out to my community and others."

Each year PAR® presents these three awards to recognize members’ unique contributions to the profession and to the organization. Winners are announced at the Fall Business Meetings. Awards criteria are established and updated by the PAR Board of Directors. Deadline for nominations is July 1st of each year. Click here to learn more.

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:

Don’t miss this premier membership event on October 23rd in Springfield.
Register today as tickets will sell out!

All members are welcome. 

The Federal Reserve cut its benchmark interest rate by 0.5 percentage points last Wednesday in a landmark decision that dials back its years-long fight against inflation. It was the central bank's first rate cut since 2020, due to two key economic conditions - falling inflation and slowing job gains. This cut left the federal funds rate between 4.75% and 5.0%. But the housing market is affected by more than just mortgage rates. 

A Federal Reserve rate cut reduces the interest rates at which banks lend money to each other, influencing short-term borrowing costs. However, this doesn't directly translate to lower mortgage rates. Jerome Scarpello of Leo Mortgage points out that the mortgage market had already anticipated this shift, leading to a drop in mortgage rates earlier in the year. Mortgage rates tend to follow the bond market rather than the Federal Reserve directly. The average 30-year mortgage rate dropped from about 6% in 2008, to just below 3% in 2021. In 2022, the average 30-year mortgage rate leaped to 5.3% and peaked at 7.8% last fall.

"It's easy to assume that a 0.5 percentage cut by the Fed means 0.5 percentage cut in mortgage rates. In reality, the mortgage market anticipated the Fed move and was already reflected in the lower rates we’ve seen in the past few months" (Scarpello). 

According to Kim Kozelsky of Cross Country Mortgage, and echoed by Scarpello, the answer lies in understanding the U.S. Treasury bond—specifically, the 10-year Treasury, which reacts quickly to economic data. Unlike the Federal Reserve, the bond market responds immediately to shifts in indicators such as labor data, housing conditions, unemployment, and industrial production. These factors influence interest rates and inflation, with the bond market often moving ahead of the Fed's actions.

Kozelsky provides a helpful metaphor for REALTORS®: "Mortgage rates are long-term rates and historically walk along the beach with the Treasury market, most commonly the 10-year Treasury." In simple terms, as the 10-year Treasury yield decreases, mortgage rates typically follow, making homes more affordable and potentially increasing buyer interest—signaling a more active market. It's important for real estate professionals to educate their clients on the distinction between short-term rate cuts by the Fed and the movement of long-term mortgage rates, which are more aligned with the bond market.

Additionally, according to Realtor.com, the best time to buy this year is the week of September 29 to October 5, making it a prime window for buyers to take advantage of current market conditions and favorable mortgage rates.

Thank you to 2 of our Mortgage Affiliate Members, Jerome Scarpello with Leo Mortgage, & Kim Kozelsky with Cross Country Mortgage for providing commentary for this piece. 

Other sources of information are credited towards Mortgage Affiliate Member Jay Ramsey with Sun East Federal Credit Union, ABC News & The Associated Press.

Everyone in the real estate industry can agree on one thing: 2024 has been one for the books. And while we all continue to navigate this new real estate landscape together, it’s time to shift your focus to finishing out the year strong. Encourage your agents to raise the bar for their businesses throughout Q4 by taking advantage of the tools and resources included in their Bright MLS subscription.

Here are a few ways to do so:

Enhance listings with CubiCasa floor plans. It’s a data asset that consumers love to see—ranking right up there with standards like listing photos. Bright subscribers have access to fast, free floor plans, plus discounts on premium add-ons like fixed furniture details. BrightMLS.com/CubiCasa

Take time for training. There’s been a lot of change this year, and a lot of information to absorb. Remind your agents about Bright’s extensive lineup of live and on-demand webinars, available support options, and personalized coaching. BrightMLS.com/Education, BrightMLS.com/OfficeHours

Stay informed with Bright Research. Now more than ever, it’s crucial for agents to earn their clients’ trust. That starts with being a market expert—which starts with Bright Research. Featuring monthly market reports at a national, metro, and county level, plus research deep dives and insightful market analyses, Bright Research is an invaluable source of information to fuel agent success. BrightMLS.com/Research

Conshohocken-based JP Orleans is developing a 119-unit residential community on 18 acres off Mancill Mill Road and along the Schuylkill River in King of Prussia, Upper Merion Township. Called River Trail at Valley Forge, the community will have a mix of two-story carriage homes and three-story townhouses. The project is nestled between the sprawling retail and office district surrounding the King of Prussia Mall and the Schuylkill River, providing a short trail walk to Valley Forge National Historical Park. Groundwork has begun, and the homes are projected to be completed in about five months. CEO Jeffrey Orleans expects the average sale price across the community to be around $800,000, with the company anticipating more than $100 million in sales from the River Trail at Valley Forge.
Source: Philadelphia Business Journal; 9/16/2024

October 7th | 10:00am-12:00pm
CRE Boot Camp - ABC's of Commercial Real Estate
Tri-County Suburban REALTORS®, Malvern

October 11th | 8:15am-9:30am
Commercial/Industrial Marketing Exchange – Hybrid – With Guest Speaker Jeff Metzger, Food Trade News
Tri-County Suburban REALTORS®, Malvern & Virtual via Zoom

October 15th | 10:00am-11:30am
CRE Boot Camp - Commercial Real Estate Sales
Tri-County Suburban REALTORS®, Malvern

October 16th | 11:30am-1:30pm
The Power of Diversity: Visions and Voyages with NAHREP & the LGBTQ+ Alliance
Tri-County Suburban REALTORS®, Malvern

October 17th & 18th (two-day course) | 9:00am-4:30pm
Seller Representation Specialist (SRS)
Association of REALTORS® School

Contact Us
610-560-4800
info@tcsr.realtor

Office
1 Country View Road
Suite 201
Malvern, PA 19355