July 28, 2005

NEW INFORMATION

• Small Business Health Fairness Act Passes U.S. House of Representatives— On Tuesday, July 26, the United States House of Representatives passed one of the National Association of REALTORS top legislative priorities, the Small Business Health Fairness Act. As previously reported, this legislation will allow small businesses and self-employed workers to band together through a trade or professional association (like NAR) to negotiate lower health insurance costs for participants, similar to the rules already in place for federally regulated large corporate and union plans. NAR President Al Mansell stated, “We applaud the House of Representatives for passing the bill and look forward to working with the Senate.”

A significant number of America’s 45 million uninsured citizens work for small businesses who cannot afford to offer quality health insurance benefits to their workers. Furthermore, statistics show that 28% of NAR’s more than 1 million members are uninsured and many others feel they are paying too much for their coverage. Convincing the Senate that this bill should be passed is a significant priority for NAR and as members, you can directly help. Please consider signing up for the NAR Action Center and communicate with Senators Specter and Santorum regarding this crucial issue. For more information on the Small Business Health Fairness Act, please click here or call the REALTORS Legislative Alliance at 610-981-9000.

• The End of School Taxes? Not quite— During what was the first in a series of local taxpayer meetings set up to explain the Commonwealth Caucus' plan to eliminate school property taxes, State Rep. Gibson Armstrong (R-100) spoke in front of a crowd of nearly 100 people last Thursday (July 21) to tout the, as advertised, "bipartisan, pro-growth plan." This plan calls for a three-year phasing out of all residential and commercial school property taxes in favor of a broadened five percent sales tax, that would now include clothing and services, including real estate commissions. The bills would also increase the realty transfer tax to 3% statewide. The new legislation would also allow school districts to collect a personal income tax.

According to Armstrong the plan is expected to be phased-in over the next three years through gradually decreasing school property taxes. This would allow the state to build up an operating reserve for school districts, since the broadened sales tax will not instantly be able to generate enough revenue for districts to survive. Meanwhile, the state's sales tax would be decreased from six to five percent.

Armstrong said he believes the plan will establish a permanent and dedicated funding source for education. All sales tax revenue will be dedicated to an Educational Operating Fund (EOF), which would be separated from the General Fund. All of the monies placed into the EOF could then only be used for school funding purposes. According to Armstrong, representatives are expected to vote on the plan by the end of the current House session, which ends in November. (Source: Avon Grove Sun; 07/28/05)

• Revised Agreement of Sale to be Available In September— The Pennsylvania Association of REALTORS has reported that it plans to release the newly revised Agreement of Sale in mid-September. As soon as the form is released, the forms will be available for purchase from the Suburban West REALTORS Association. Note that use of the revised form is not mandatory; however, many of the revisions are designed to reduce a REALTORS exposure to risk.

Educational opportunities are available to help you become acquainted with the revised form, including:

• PAR is conducting telephone seminars on August 2 and August 18. Both seminars will cover the same information. It is expected that the August 2 nd seminar will be recorded and available to members as an online resource.
• On Tuesday, October 18, 9:00 a.m. – 12:00 noon, Suburban West REALTORS Association will host Hank Lerner, Esquire for a seminar on the revisions. The seminar is free but pre-registration is required. To register click here. Once logged in click on events calendar.

A complete guide to resources on the revised agreement of sale is available by clicking here. Here you will find a list of the major revisions and (coming soon) a new guide for the preparation and use of the revised form. As always, please feel free to call the Suburban West REALTORS Association office, 610-560-4800 if you have questions.

• Memorial Notice— It is with deep sorrow that we report the passing of REALTOR member Daniel J. Micucci, Sr. on Friday, July 22. Dan had been a member of the organization since 1994 and has been practicing with Century 21 Absolute Realty in West Chester since 1998. In addition to real estate, Dan enjoyed softball and spending time with his family. In lieu of flowers, contributions in his name to St. Jude's Children’s Research Hospital 501 St. Jude Place Memphis, Tennessee 38105.  

• Employment Notice— Dynamic REALTOR in fast paced realty office in Chadds Ford, PA looking for part-time personal assistant with strong computer skills to handle data entry, word processing, contact management and general office skills.  Salary negotiable.  Call 610-299-0911.

REMINDERS

• 3 rd Annual 5K Run For Home Charity Fundraiser (Saturday, August 13)— This year the 5K Run For Home is scheduled for Saturday, August 13 at the Eagleview Corporate Center in Uwchlan.  All proceeds will go to support Habitat for Humanity of Chester County.  There are many ways that you, as a member, can be involved in this event: PARTICIPATE (for registration brochure CLICK HERE), VOLUNTEER, or become a SPONSOR (for sponsorship info CLICK HERE).  For additional information, please contact Mary Lim at 610-560-4800 or mlim@suburbanwestrealtors.com. 

• Managing Risk in Real Estate— Pursuing your GRI Designation or want to complete your continuing education requirements early? Sign up today for Managing Risk in Real Estate. This course will help reduce your exposure to risk by providing you a better understanding of misrepresentation, antitrust, fair housing, ADA, environmental law, agency/buyer representation, and contracts/real estate forms. The two day course is Wednesday, August 10 and Thursday, August 11, 2005 8:30 a.m. – 5:00 p.m. both days. Tuition: $199.00 includes all course materials and in-house lunch both days. Approved 1 PA Broker credit. Approved 14 hours PA 04-06 Real Estate license renewal.

To register, click here. This course is one of the five required courses for the GRI Designation. For more information on the GRI criteria and other designation requirements click here.

Save The Date! Golf Outing and Monte Carlo Event On September 26– The Suburban West REALTORS Association will be presenting a Golf Outing and Monte Carlo Night at the Waynesborough Country Club in Paoli on Monday, September 26. This event will raise money for the American Cancer Society. Golf registration will begin at 10:30 a.m. and tee off is 12:30 p.m. Open Bar begins at 5:00 p.m. and Monte Carlo will commence at 7:00 p.m. Prizes, giveaways and fun will be readily available. For more detailed information on the event, please click here and for sponsorship information, please click here.

OTHER IMPORTANT NUMBERS:

• Suburban West REALTORS Association TECH HOTLINE:
  800-704-7240 (email: techhotline@att.net)
  (8:30 am to 8 pm, Monday to Friday)
  
• PAR Legal Hot Line: 800-727-5345
  (9 a.m. to 10 am & 1 pm to 3 pm, Monday to Friday)
  
• Suburban West REALTORS Association:
  http://www.suburbanwestrealtors.com
  
• SUPRA Support: 877-699-6787 (8 am to 10 pm, Everyday)