| Weekly News Service
Providing the Latest Association and Local Real Estate
Information
The Weekly News
Service is an exclusive benefit available to members of the Suburban
West REALTORS Association. Featuring both Association news and local
real estate industry information, the Weekly News is a service meant
to benefit all members of the organization.
PAR Intensifies Efforts To Thwart Increase To Transfer
Tax
 Earlier this week, the Pennsylvania Association of REALTORS
emailed a memo to all members regarding its efforts in opposition to
any increase in the Realty Transfer Tax as a funding mechanism for
property tax reform. Recently plans that have been talked about
would result in a 200% increase in the Realty Transfer Tax. A vote
on the proposed increase is scheduled for November 21.
To combat this increase, PAR has unveiled an aggressive
communications strategy to create a “buzz” as quickly as possible
among both consumers and legislators about the proposed Realty
Transfer Tax increase. Customized radio spots will air November
9th-18th, primarily on local talk and news stations. Newspaper
advertisements are scheduled to run on Sunday, November 13th and
20th. Members can view the newspaper advertisement and listen to a
sample of the radio spots on PAR’s website.
Members are also strongly urged to respond to the
Call-to-Action that PAR is emailing to all members on Monday,
November 14th. It will ask that members contact their local
legislators about this proposal prior to the November 21st
vote.
Housing Market Ripens in Local Counties
 Once again the housing market was ripe for Delaware County
homeowners in the third quarter as the median home price rose 22.7
percent. The median sale price of homes jumped to $200,000 for the
quarter, compared to the $163,000 averaged in the third quarter of
2004. The spike was the largest year- to-year increase through three
quarters in 2005. Chester County led the five-county region with the
highest median sale price at $315,000, followed by Bucks County at
$306,000, Montgomery County at $275,000, Delaware County at $200,000
and Philadelphia County at $139,900. The 22.7-percent increase in
Delaware County was bested only by a 24.9-percent jump in
Philadelphia. (Source: Daily Times; 11/8/05)
“Nuts and Bolts of a Residential Lease”
The Delaware County Real Estate and Bar Practices Committee
will convene its popular breakfast meeting on Thursday, November
17th at the Little Inn, Media, PA. The seminar topic, will be
presented by Lee Stivale, Esquire and Lou Kodumal, Esquire. Cost
for this event is $13.00 payable at the door. The fee covers the
cost of breakfast and room expenses and will be charged to all
attendees. Breakfast is served at 8:15 a.m., the session will begin
at 8:45 a.m. Advance Reservation is required. Call Vince Mancini,
Esquire at 610-566-8064 to reserve your spot. CLE credit is
available for an additional fee.
Toy Drive in December
 The Suburban West REALTORS Association is pleased to continue
to coordinate an effort among our members to donate toys to
underprivileged children in our metropolitan area. Beginning
November 28, all members are encouraged to bring at least one new
unwrapped, non-violent toy to the Association’s office in Malvern.
The organization will continue to accept donated toys through
Friday, December 16. All gifts that we receive will be distributed
to deserving children and families through three organizations:
Dreuding Center (Project Rainbow), Head Start and the Weatherly Day
Center. For more information, please contact Vinnie Pagnini at
610-560-4800 or email vpagnini@suburbanwestrealtors.com.
Professionalism Tip (From the Ombudsman Hotline)
Recently, there have been a number of calls from listing
agents concerning the habit of leaving business cards at the
seller’s home after showing. Many REALTORS consider it a courtesy to
leave a business card in the home especially after showing a home
where the seller was not present. However, the potential
for an ethics violation exists when the item left behind is
more than a business card and can be construed as an advertisement
of the co-operating broker’s services.
Article 16 requires REALTORS to respect the agency
relationship that other REALTORS have with their clients.
Specifically, the article and its 20 standards of practice prohibit
REALTORS from any practice or action inconsistent with the exclusive
representation or exclusive brokerage relationship agreements other
REALTORS have with their clients. For a copy of the 2005 Code of
Ethics, click
here.
The Suburban West REALTORS Association Ombudsman program
provides REALTORS and members of the public enhanced communications
and initial problem solving concerning REALTORS and real estate
related transactions. The Ombudsman answers, or seeks to answer,
calls concerning transactional, technical, procedural or practical
issues with respect to REALTORS or real estate transactions. The
Ombudsman program is not meant to be a substitute for legal or other
professional advice when required. If you have a problem or concern
with a REALTOR or real estate related transaction call 610-560-4800
or email ptansey@suburbanwestrealtors.com.
Developer Proposes Condo for Chesterbrook
Tredyffrin Supervisors are mulling a zoning change that would
pave the way for a new condominium unit in Chesterbrook by noted
developer Brian O'Neill. O'Neill presented plans for a 168-unit
complex near Routes 202 and 252 at 1001 Chesterbrook Boulevard. The
developer was before supervisors as part of a public hearing to
change the zoning at the site, which is currently zoned for a hotel,
stemming from previous attempts to develop the site going back to
1998.
O'Neill said the condominium would fill an important gap in
Tredyffrin's housing market. Priced between $250,000 and $400,000,
he said the building will attract a mix of young professionals under
the age of 35 and "active adults" over 55. He also revealed
financial figures showing that the condominiums would generate 15
percent more revenue for the township. Supervisors plan to vote on
the plan at their Dec. 5 meeting at the Township Building at 7:30
p.m. (Source: The Wayne and Suburban Times; 11/10/05)
Interested In Enhancing Your Sales Meetings?
Find out what 40 other offices have benefited from-- the best
training value for you and your agents are the free seminars offered
by the Suburban West REALTORS Association. Staff are available to
present at sales meetings for member offices. This value-added
service allows for you and your colleagues to gain free in-depth
information on a variety of topics that will assist in the
professional development of attendees. The Association has already
presented at more than 40 offices and is excited about the
opportunity to present to more. The following is the list of topics
that can be addressed for any where from 15 minutes to an
hour:
- Standard Forms
- DRS/Mediation
- Association Resources
- The “New” Agreement of Sale
- Property and Self Marketing Tools
- The Value of RPAC
- Sellers Disclosure
- Use and Occupancy Inspection Criteria
- Legislative Update with Q & A
- Agency and Compensation
- Equal Opportunity Housing Rules and Regulations
- Code of Ethics Q & A
- Technology Tips
- Safety for REALTORS
For more information or to reserve a staff member to present
at an upcoming sales meeting, please contact Steve Farace at
610-560-4800 or sfarace@suburbanwestrealtors.com.
Reminders
Free Education for REALTORS—All REALTOR Members of the
Suburban West REALTORS Association have received an education
voucher included with their 2006 dues invoice packet mailed this
week. This voucher allows the member to attend a complimentary
$35 MCE class between January 1, 2006 and December 31, 2006
(NOTE that designation and certificate courses are excluded). Due to
the success of the Association’s merger, we are pleased to leverage
our resources to make this free registration available to our 4,700
REALTORS. To utilize the voucher, members simply need to notify the
staff at the time of registration of their intent to redeem you free
registration. Note that this can be accomplished via phone or paper
registration—you cannot use the voucher if you are registering
on-line. Each member is only eligible to receive one free class and
must pay their 2006 dues prior to use of the voucher. A
comprehensive list of school courses can be accessed here.
Commercial/Investment Marketing Exchange Meeting on
November 11—The C/I Marketing Exchange will next convene at the
Association’s office in Malvern from 8:30 a.m. to 10 a.m. on Friday,
November 11. This month’s presentation will be a “Grocery Store
Trends” by Jeffrey Metzger, co- owner and publisher of Best-Met
Publishing Co. The meeting will also feature an opportunity to
network with upwards of 30 other members and discuss any “haves” and
“wants” of your clients. The C/I Marketing Exchange meetings are
open to all members of the Association. Thus, if you are actively
involved in this unique area of the industry or want to get
involved, please plan on attending the next meeting. Please contact
Steve Farace at 610-560- 4800 or email Steve Farace at sfarace@suburbanwestrealtors.com
if you have any questions or would like to be added to the C/I
Marketing Exchange email list.
• Employment Notice—Prudential Fox & Roach is seeking a
candidate to work in their foreclosure division. Responsibilities
include overseeing the management and marketing of foreclosed
properties, attending evictions, and reporting. Candidate must be
computer literate. This position is salaried and includes benefits.
Hours are 9:00 to 5:30 weekdays. Please forward resume to Rita.Nilon@prufoxroach.com.
Important Phone Numbers & Websites
- Association of REALTORS School: 610-560-4900 (www.realtors-school.com)
- REALTORS Legislative Alliance: 610-981-9000 (www.rladirect.com)
- Suburban West REALTORS Association TECH HOTLINE:
800-704-7240 (email: techhotline@att.net) (8:30 am to 8
pm, Monday to Friday)
- PAR Legal Hotline: 800-727-5345 (9 am to 10 am &
1 pm to 3 pm, Monday to Friday)
- Suburban West REALTORS Association Website: www.suburbanwestrealtors.com
- SUPRA Support:877-699-6787 (8 am to 10 pm,
Everyday)
- Trend: 610-783-4650 (www.trendmls.com)
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