April 2010
Dear Members,
Cathy Amant
As your new president, I want you to know how proud I am to be leading an organization that has a strong tradition of professionalism, high standards and exemplary service to our clients. I’m sure we’re all looking forward to increased sales activity during 2010. With that in mind, I want to share some of my goals for the year.
First of all, I want to keep the lines of communication open so that our members will be fully informed and have access to the latest information about our profession and the LVAR organization. In that regard. I promise to keep you abreast of news from both PAR and NAR so that you’re on the leading edge of real estate developments. I highly recommend visiting www.realtor.org and www.parealtor.org to stay current with developments in our profession as well as the impact of legislation and the economy on our work. You can also obtain information on Health Insurance for Realtors, our Realtors Credit Union and Right Tools/Right Now on these sites. Most important, I encourage you to keep improving your knowledge and skills, and to obtain your professional certifications. It’s important to keep learning because real estate is constantly evolving and those who are prepared for what’s coming will be miles ahead of the competition. Remember that my door is always open – to talk to you, to discuss issues or simply to visit. I look forward to seeing you at our quarterly meetings and hearing from you anytime you have a question or concern. Please stay in touch with me because if I’m going to be a good leader for LVAR, your feedback and your ongoing support are very important to me. All the best,
2010 Board of Directors PROFILES President Catherine Amant, ABR, CRS, GRI Cathy, president of the LVAR Board of Directors, has been a board member since 2006. In addition to working as an associate broker for RE/MAX Central Allentown, she is director of the Lehigh Valley Real Estate Institute where she teaches prelicensing and continuing education classes, and is a manager and trainer for new agents. She began her real estate career with Coldwell Banker Heritage Real Estate in 1990 and received her broker’s license in 1993.A native of Jim Thorpe, Cathy is the wife of Joe Amant, mother to Bill, Mike and Brian, and grandmother of three boys.
President-Elect Frank Renaldi, Jr. Frank, president-elect of the board, is also chair of the Government Affairs Committee and vice chair of the LVAR Political Action Committee. For the past 10 years he has been associated with Century 21 Pinnacle. A lifelong resident of the Lehigh Valley and a graduate of Nazareth Area High School, he studied human resource management at Shippensburg University. Returning to the Valley, he chose to follow the career path of his father Frank Renaldi, Sr. Frank is dedicated to furthering the interests of his clients and the real estate industry.
Secretary Therese Kelley Therese, LVAR board secretary, is also a member of the Real Estate Weekly Committee, and the Government Affairs Committee. She has done fund raising for RPAC as well. Therese, a graduate of Northampton Area Community College and an associate broker at Croslis Realty, has been licensed since 2001 and has been a broker since 2007. Originally from New Jersey, she has been a Valley resident for 22 years and has happily raised two children – Leslie and Glenn – in the Bethlehem area.
Cathy Amant
Treasurer Tiffany Hayward, SRS
l REALTORS® Who Care - Frank Renaldi, Jr.
Tiffany is currently chair of LVAR’s Political Action Committee, a member of its Professional Standards Committee, vice-chair of the Government Affairs Committee, and is on the board of directors of the Pennsylvania Association of Realtors. An associate with Teel Realty for
l Gina Perotti: First-Time Homebuyer
l Proposed Tax on REALTOR® Commissions
Please see next page
1
Board continued
the past eight years, she is a trainer for new agents and leads weekly in-service sessions at the Teel office. She belongs to both the LVAR and Pocono Mountain MLS, as well as the National Association of Realtors.. A 20-year resident of Mt. Bethel, she is married and has two children. She has been very involved in scouting, school activities and municipal affairs.
license in 2006. A Lehigh Valley resident since 1999, Dan grew up in New Jersey and lived in Madison, Wisconsin, for four years. He resides in Center Valley with his wife Trina and children Dan, Dominick and Angela.
Past President Susan E. Seidel, CRS, GRI
An associate with Spectrum GMAC Real Estate, Bill has been a member of LVAR and the national association since becoming licensed in 2003.A graduate of East Stroudsburg University, he earned a degree in management and was elected to Omicron Delta Epsilon (economics honors fraternity). He is a member of the board of directors of the Zephyr Pride Foundation that benefits students in the Whitehall-Coplay School District. His free time is spent with wife Kerrie Ann, and children Isabella, Olivia and Rocco.
Susan is a PAR director and is serving as moderator for Large Associations during 2009-2010. A member of the Diamond Society at Coldwell Banker Heritage, Easton, she began her career with Patt, White Co in 1996. She served on the Special Events Committee 2004 - 2007, both as a volunteer and co-chair; the Real Estate Weekly in 2006; the Grievance Committee 2005 - 2007; the Finance Committee 2006 - 2007; RPAC 2008 - 2010. She is co-chair for the Lehigh Valley Coalition on Organ & Tissue Donation. A native of Easton, she spent ten years out of the area and now resides in Bethlehem Township. She is the mother of two sons, one of whom lives with her and another who is with God. Will Barham Will is a PAR director and a member of its Equal Opportunity & Cultural Diversity Committee. He serves on LVAR’s Special Events Committee, the Council of Residential Specialists and the Real Estate Buyer’s Agent Council. An associate at Exit Realty Advantage, he is working toward his associate broker’s license. A native of Flint, Michigan, and raised in Birmingham, Alabama, Will is a 13year veteran of the U.S. Army. He lives in Allentown with his wife Jolene and their two children, Cameron and Clara. Andrea Decker Andrea served on the LVAR Professional Standards Committee from 2007 to 2009. Licensed in Utah in 1989, she received her Pennsylvania license in 2000 and her associate broker’s license in 2008. She is managing broker at Coldwell Banker Hearthside Realtors in Allentown and Easton where she recruits and trains new associates, manages transactions, oversees due diligence, marketing and revenue projections. In 2000, she was Rookie of the Year for Coldwell Banker Allentown, has consistently earned Diamond Society designation and been named to the "top ten" for sales within the Heritage group. She is a certified USAA/CARTUS relocation specialist. Dan Falco Dan has recently opened his own office, Assist 2 Sell Buyers and Sellers Advantage, and currently serves on the LVAR Grievance Committee. He began his career with Prudential Patt, White’s Easton office in 2001 where he was company-wide Rookie of the Year as well as a TopProducing Agent. He earned his broker's
William Fonzone
Aubrey Hendricks, SRS A licensed realtor since 2004 and member of LVAR’s Government Affairs Committee, Aubrey has received her associate broker’s license. She is associated with Weichert Realtors where she is that company’s top producer and an Executive Club member. She is a graduate of Kutztown University and resides in Bethlehem where she enjoys gardening, hiking, mountain biking and spending time with family and beagles Lily and Ruby. Amy Ling A native of Hong Kong, Amy moved to Vancouver, British Columbia, when she was 15. After her marriage, she moved to Hanover Township where she has lived for over 20 years. She began her career with Century 21 McPeek Realty and for the past ten years has been the broker/owner of Century 21 Ling Realty. She has served on the MLS Committee and Board of Directors since 2009. She has two grown children. Glen Paisley Glen heads the Glen Paisley Team at Prudential Patt, White in Macungie where he has earned the 2007- 2008 PAR Excellence Award. He has served on the MLS Committee and the Real Estate Weekly Committee. He previously worked in social services, including an in-patient psychiatric facility and foster care agency. He is co-owner of Prep My Place, a home-staging and consulting company and is an active volunteer for Pinebrook Services for Children & Youth where he heads the agency’s annual Christmas toy drive. A Penn State alumnus, Glen resides in Macungie. Please see next page
2
Board continued
George Raad George is a broker and has owned Harvey Raad Realtors since 1972. He has been very active in LVAR including serving on the Board of Directors 1999 – 2006 and 2008 – 2010 (president in 2005), and its Government Affairs Committee 2006 2008 (chair 2006 - 2007). Since 2002, he has been a PAR director, was its Land Use & Local Issues chair in 2007 and has also served on the Legislative Committee and Commercial, Industrial and Investment Committee since 2006; he was an RPAC trustee 2007-2008 and 2010-2012. He was on the board of the National Association of Realtors in 2006-2007 and 2009, and its Commercial, Legislative and Regulatory Subcommittee 2007 - 2009. He also is a federal political coordinator
(2009 - 2010). Married for 33 years to wife Linda, his two sons – Christopher who is an associate broker and Gregory – are third-generation Raad Realtors and work with him.
Leadership PAR 2009 graduate, is a multi-million-dollar producer and helps develop new agents for her office. Married with two grown children, Denise lives and volunteers in Bethlehem.
Denise Rich, GRI, ABR
Kevin Yarnall An associate broker with Legend Properties, Kevin has been a licensed REALTOR® since 1985 and an associate broker since 2009. He has been an active committee member at LVAR since 2007. Kevin had the distinguished honor of being the top-producing agent in his company in both 2007 and 2008. He is an executive member of Multi Million Dollar Investment group.
Denise is an associate broker with Realty Executives with whom she has been affiliated since 2001, after beginning her career at Patt White Co Better Homes & Gardens in 1992. She had been a LVAR board member since 2007, was secretary in 2009 and has also served on the Multiple Listing Committee, LV Real Estate Weekly Committee and Special Events Committee. She also was a
Gina Perotti, First-Time Homebuyer - Thanks to the Tax Credit Gina Perotti is still emptying boxes from her recent move but it’s a welcome assignment for this delighted new homeowner. On Feb. 21, she and her two children made the last trip from their former apartment to the family’s new South Whitehall home and happily set about unpacking their belongings. Gina, professional standards and education director for Lehigh Valley Association of REALTORS®, was able to purchase her town home by taking advantage of the $8,000 first-time homebuyer tax credit. The program is a golden opportunity for those who need a little extra money to cover a down payment and closing costs. Gina said it was a godsend for her. Taking advantage of a Pennsylvania Housing Finance Agency program, Gina was able to apply $5,000 of the credit toward her closing costs and will use the remaining $3,000 to decorate her new home. She has repainted the entire downstairs and one upstairs bedroom so the colors better suit her family’s tastes. Other than these cosmetic changes, she said, the house needs little else because it has been well cared-for.
"I’m just a single parent trying to raise two kids," she said. "Without the tax credit there wouldn’t be a home for me." "I felt comfortable using the PHFA program because I trusted the people who were helping me," she said. "Chris Raad, associate broker at Harvey Raad Realtors, and Tom Flad, northeast Pennsylvania area director for Metlife Home Loans, were wonderful to work with. They helped make this house a reality for me" Tom said Gina really was able to take advantage of the program by getting her financial house in order ahead of time.
Gina Perotti had the door opened to home ownership with the help of the first-time homebuyers tax credit.
"She developed a plan and stuck to it, so when this program came along she was ready," Tom said. "With such a low interest rate and no points, a plentiful supply of houses and sellers who are willing to negotiate, this is a great program – and it’s a great time to buy." Gina was disappointed that she couldn’t buy a house last fall when the tax credit was first enacted. But her persistence paid off when the credit was extended to April 30, and she found the house of her dreams. "I love my home," she said. "I’m so happy and feel so comfortable. My daughter Giorgia who’s 17 and 13-year-old son Chris love having their own space and especially the basement – and I love it too, that they have a place to be with their friends. It just shows that nothing is impossible,” she said. “If you put in the effort, you can do it. I’m living proof of that.”
3
Frank Renaldi, Jr. Frank Renaldi, Jr. has a special place in his heart for Easter Seals of Eastern Pennsylvania (ESEP). And, because he also loves baseball, he’s teamed up with the Iron Pigs to support his favorite cause. Last year, in the Pickoff For Charity, he and his father Frank Sr. raised $2,000 for ESEP. Every time the Phillies-affiliated AAA team successfully "picked off" a runner during a home game – 20 times last year – they donated $100 to Easter Seals. These donations are a well-established tradition since Frank Sr. has supported the local Easter Seals organization for 21 years. Both father and son have a strong commitment to the organization and have contributed a substantial amount of money over the years. In addition to Pickoffs, they also sponsor walkathons, bowl-a-thons, and "A Night at the Races" to raise funds. Their office, Century 21 Pinnacle, raised $10,000 for Easter Seals last year. Frank gladly gives credit to his fiance Giuseppa (Mandee) Fiore, saying her support has been vital. "She’s happy with my community work, even if having ‘us’ time is sometimes a challenge," he says. "But she knows I receive so much more than I give."
Frank Renaldi, Jr. (seated) pictured with his father, Frank Sr., is passionate about raising funds for Easter Seals of Eastern PA. "At the end of the season, we had a check presentation in between the games of a double header while our video played on the Jumbotron. This is all thanks to Frank."
Nancy Teichman, ESEP executive director, says she is grateful for Frank’s efforts. She lauds his active participation in Easter Seals fund raising, along with his father and Century 21 corporate leaders who have raised millions for the organization nationwide.
Frank, Jr. is president-elect of the LVAR Board of Directors, chair of the Government Affairs Committee and vice chair of the Political Action Committee. He is passionate about his LVAR participation, saying many doors have been opened to him, especially on the state level, as a result of his involvement in the organization.
"It means everything to us that Frank is so supportive and has created a partnership with the Iron Pigs to raise money and get us exposure," she says. "Our kids have been able to attend games and one special fan even got to throw out the first pitch – it was wonderful!
And he’s also passionate about Easter Seals. Once again this year he’s sponsoring the Pickoff for Charity. That means the better defense the Iron Pigs play, the lighter Frank’s wallet will be. But he doesn’t mind because it puts a lot of smiles on little faces. And a smile on his face as well.
LVAR Members Have STYLE! Every issue of Lehigh Valley Style - the Valley’s elegant lifestyle magazine - celebrates our fabulous region. LVAR members receive a complimentary subscription and reduced advertising rates. Style subscriptions make great client gifts!
Contact Pam Deller at 610-923-0384 or email Pamela@lehighvalleystyle.com for details. 4
Governor Rendell Targets REALTOR® Commissions, Proposes 4 Percent Tax On Real Estate Services On February 9, Governor Ed Rendell released his proposed 2010 budget. One revenue-generating component in his budget is a 4 percent tax on professional services, including REALTOR® commissions, home inspections, appraisal services, credit reports and more. The governor proposes to reduce the current state sales tax rate from 6 to 4 percent and expand it to items that were previously exempt. In all, the sales tax would expand to 74 services and other transactions that are currently exempt. Rendell's $29 billion spending plan would increase state spending by $1.1 billion, or 4 percent. It also relies on nearly $2.8 billion in federal stimulus money, some of which has yet to be approved by Congress. The Lehigh Valley Association of REALTORS will be working closely with the Pennsylvania Association of Realtors government affairs staff to develop a plan to engage Realtors and help their voices be heard. Not only is Rendell’s proposal bad for Realtors‘ commissions, it will also drive up the cost for real estate buyers. Since it is early in the budget adoption process, there will be serious debate on this issue because of its impact on industries and individuals (legal services, newspapers, candy and gum, dry cleaning, advertising, consulting and many others).
Use this link for a list of all 2009 RPAC Contributors: http://www.lehighvalleyarea.com/content/upload/AssetMgmt/Government%20Affairs/RPAC/2008%20Contributors_Web.pdf
A proposed sales tax on commissions is one of among many issues the Association is able to fight on our members’ behalf through the REALTORS® Political Action Committee (RPAC). You can learn more about RPAC and make an investment by visiting www.parealtorpac.com.
Homebuyer Tax Credit Expires April 30 The extended and expanded homebuyer tax credit adopted by Congress late last fall is set to expire on April 30, 2010. Buyers are encouraged to act quickly if they plan to qualify in time for the credit. Here are a few things to keep in mind: l Eligible home purchases must take place between
November 7, 2009 and April 30, 2010.
l As long as a written binding contract to purchase is in effect
on April 30, 2010, the purchaser will have until July 1, 2010 to close.
l Current home owners (“move-up” buyers) can qualify for a
credit of up to $6,500 if they have used the home being sold or vacated as a principal residence for five consecutive years within the last eight. l First-time homebuyers can qualify for a credit up to $8,000
5
Hanover Township Adopts Inspection Requirement In February, Hanover Township (Northampton County) adopted a pre-sale inspection ordinance requiring sellers to get an inspection and certificate of occupancy prior to transfer of ownership.
LVAR presented its concerns to supervisors at their October meeting. The township accepted virtually all of our recommendations. When township supervisors originally drafted the ordinance, it was vague and did not consider the unique needs and concerns of REALTORSÂŽ and real estate consumers. LVAR presented its concerns and recommended amendments to supervisors at their October meeting. The township accepted virtually all of our recommendations. One particularly important amendment specifies that buyers who agree to purchase a home with violations will have up to 18 months from the date of purchase to bring the property up to code. This ensures conformity with the Municipal Code and Ordinance Compliance Act of 2000. The new ordinance takes effect on July 1 and will apply to all properties on the market at that time.
FHA Modifications Adopted In January, the Federal Housing Administration announced major changes to guarantee its long-term financial soundness. FHA is trying to balance three fundamental objectives: maintaining the financial soundness of the FHA insurance fund – ensuring that its capital ratio remains above 2 percent; fulfilling its mission of serving borrowers not adequately served by the private sector; and facilitating the recovery of the housing industry and the overall economy. To meet these objectives, FHA has announced the following changes: l The upfront mortgage insurance premium
(UFMIP) will increase to 2.25 percent up from 1.75 percent. Contrary to reports, FHA will continue to allow the financing of the UFMIP. l Borrowers with a credit score below
580 will be required to have at least a 10 percent down payment; the minimum down payment will remain at 3.5 percent or all other borrowers. l FHA will seek legislative authority to
increase the annual premium (currently capped at .55 percent); l Seller concessions will be reduced to
3 percent from 6 percent.
6
ServiceMaster Cleaning & Restoration Bill Komoroski, president of ServiceMaster Cleaning & Restoration, calls himself “The Master of Disaster”. “My company does everything from steam-cleaning carpets and removing dangerous mold to cleaning up and restoring abandoned homes,” says Komoroski. We’re pleased to welcome Service Master Cleaning & Restoration as a new Platinum sponsor and encourage LVAR members to contact Bill at (800) 962-1102 or http://www.master-disaster.com/.
April 15 General Membership Meeting
Wood Dining Hall Lehigh University
19 GRI 501 Pricing & Evaluating Residential Property
LVAR Quorum 1
23 CRS Power Tool Training
LVAR Quorum 1
30 MLS Basic Training Class
LVAR Quorum 1
May 20 DR Quarterly Meeting
LVAR Quorum 1
20 Quarterly Happy Hour
EDGE
21 CRS Power Tool Training
LVAR Quorum 1
28 MLS Basic Training Class
LVAR Quorum 1
June President President-elect Secretary Treasurer Past President Chief Executive Officer
Catherine Amant Frank Renaldi, Jr. Therese Kelley Tiffany Hayward, SRS Susan Seidel Rosemary Scardina, CAE, RCE, e-Pro
Will Barham Andrea Decker Dan Falco William Fonzone Aubrey Hendricks, SRS
Amy Ling Glen Paisley George Raad Denise Rich, GRI, ABR Dennis Yarnall
8
New Member Orientation
LVAR Quorum 1
18 Advanced MLS Training
LVAR Quorum 1
21 Annual Golf Outing
Morgan Hill Country Club
25 MLS Basic Training Class
LVAR Quorum 1
July 7 New Member Orientation 15 General Membership Meeting
LVAR Quorum 1 Best Western Hotel Conference Center
&
23 CRS Power Tool Training
LVAR Quorum 1
30 MLS Basic Training Class
LVAR Quorum 1
7