Hotline callers often want to know if it's legal to rebate or refund part of their commission to their clients. It is legal, provided the licensee is rebating or refunding commission to her own client and the rebate or refund is listed on the HUD-1. »
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Association News, Designations, EducationTriple Play advance registration ends
Make sure you get the courses you want and need by registering online for Triple Play REALTORS® Convention. Advance registration ends Friday, Nov. 20 and online registration is just $65. »
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Association News, Industry NewsHoward Hanna chair receives RISMedia National Homeownership Award
Howard W. “Hoddy” Hanna III, who runs the fourth-largest full-service real estate company in the U.S., was awarded the honor for continuously demonstrating extraordinary contributions toward increasing homeownership and building better communities. »
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Legal IssuesCondo documents are seller’s responsibility
A recent Hotline caller asked whether her clients, who are selling their condominium, can give the buyers the home owners’ association documents in their possession (which did not include the Resale Certificate) instead of requesting the documents from the association. »
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Economics, Industry NewsPHFA offers Tax Credit Advance Loan — again
The PA Housing Finance Agency announced that it has allocated another $5 million to fund the TCA program, following the federal government’s extension and expansion of the homebuyer’s tax credit, said Kate Newton, PHFA director of Homeownership Programs. »
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Association NewsPAR launches Commercial Information Exchange
Pennsylvania REALTORS® now have access to a Commercial Information Exchange (CIE) as an additional PA Association of REALTORS® member benefit. REALTORS® can list and search for commercial properties through this service which is designed to save members time and money. »
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Economics, Industry NewsForeclosures continue to rise in Pennsylvania
Time magazine reported on a shortage of attorneys to manage the avalanche of foreclosures across the country. Rising foreclosure rates continue to add inventory to the real estate market and high unemployment rates and Option-ARM mortgages ready to reset are expected to send foreclosure rates soaring. »
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Legal IssuesHUD to ‘exercise restraint’ in new RESPA regulations
If you’re following the evolution of amendments to RESPA (Real Estate Settlement Procedures Act), you know that HUD's responses to industry, consumer and governmental requests to delay implementing these changes has been “no dice.” »
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Association News, Designations, NARDesignations give REALTORS® an edge
According to a 2009 NAR Member Profile survey, the median income of REALTORS® without a designation was $28,400 and the median income of those with at least one designation was $55,700. REALTORS® who pursue professional designations have a distinct competitive edge as a result of their increased expertise and marketability. »
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Economics, Real Property PodcastsPodcast: Tax credit and seasonality account for increased sales
In the last quarter, sales in Pennsylvania rose 11.8 percent but the median home sale price is still declining. »
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Legal IssuesDual agency fraught with difficulty
If your practice permits dual agency but not designated agency, you may want to re-examine the reasons and determine whether your policy is in the best interest of your clients and your risk reduction practice. »
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