REALTORreg Association of Central Massachusetts 1 wwwcmarealtorsorg

Presidentrsquos Message 1

Month at a Glance 2

Featured Affiliate Bill Murphy of Fairway Mortgage

3

Membership News 4-5CREST Classes 4REALTORSreg Commercial Alliance Training 6

Code of Ethics Training 7MAR News 8Golf Tournament 9-11Government Affairs 12-13Local Market Update 14Legal Hotline 15Community Action 16

RACM Mission Statement

The purpose of the REALTORreg Association of Central Massachu-setts is to

Provide REALTORreg members with the resources that enable them to serve the public in an ethical and professional manner

Take an active role regarding issues affecting sellers buyers tenants and landlords

Inside this IssueJuly August 2016

PRESIDENTrsquoS MESSAGEHappy Summer Fellow REALTORSI hope you all had a great holiday weekend I saw a lot of posts on social media showing fun filled 4ths I cannot believe half of 2016 is complete It has been a successful market to say the least for home buying and selling It has been a successful half of the year for our board as well

First off we are having a new website designed to enhance our presence as a local board and to increase our capability as a resource for our current members We are very excited about the company that is working on this for us Envision Digital and we should be up and

running with it by the end of the year

As a result of analyzing our current name Central Massachusetts Association of REAL-TORSreg Envision thought having REALTORreg as the first word in our name would be a wise choice to enhance our online presence Since we just wanted to rearrange the current words that were approved last year by NAR we were approved to have the name REALTORreg As-sociation of Central Massachusetts This will be implemented more once our new website is live

We are still in a competing market with our clients So remember to be kind to everyone Communication with all parties in a transaction is key for a successful and smooth closing

Have a great July

KrisKris Koliss2016 RACM President

REALTORreg Association of Central Massachusetts

ConnectionsJulyAugust 2016

REALTORreg Association of Central Massachusetts 2 wwwcmarealtorsorg

July 2016Sunday Monday Tuesday Wednesday Thursday Friday Saturday

1 2

3 4 5 6 7 8930-330 MLS PIN Training

9

10 11530-930 Pre-License Class

12800-200 CEU Classes CREST

13 14 15 16

17 18 19930-330 MLS PIN Training

20 21 22 23

24 25 26800-1200 CEU Classes CREST

27930-1200 Finance Mtg

28 29 30

RACM MONTH-AT-A-GLANCE

Upcoming EventsSeptember 21 - New Member Orientation at RACM September 23 - Legislative Breakfast at the Worcester Technical High SchoolSeptember 27 amp 28 - New England REALTORSreg Committee Conference in Newport RI October 5 amp 6 - MAR Conference amp Trade Show at Foxwoods - Book now - Hotel rooms selling quicklyOctober 27 - Annual Meeting at the Botanical GardensDecember 1 - Installation of 2017 Officers amp Directors

August 2016Sunday Monday Tuesday Wednesday Thursday Friday Saturday

1 2 3 4 5 6

7 8 9 10 11 12 13

14 15 16 178000-200 CEU Classes CREST200-500 Back Pack Sorting

18900-500 Back Pack Sort amp Shop

19Back Back Distribution

20

21 22 23 24 25 26 27

28 29 30 21930-12 Code of Ethics Training

REALTORreg Association of Central Massachusetts 3 wwwcmarealtorsorg

FEATURED AFFILIATE BILL MURPHY OF FAIRWAY MORTGAGEBanker amp Tradesman Recognizes Bill Murphy of Fairway Independent MortgageBill Murphy Branch Manager of Fairway Independent Mortgage Corporationrsquos Auburn MA branch has been recognized for a second year in a row by Banker amp Trades-man as the number one loan originator based on volume and the number two loan originator based on units in CentralWestern MA The annual ldquoTop Loan Originatorsrdquo list is published each June and recognizes top mortgage originators throughout the state by both number of units and total dollar amount

Bill Murphy has a history of high performance having received top sales awards from Fairway Independent Mortgage Corporation and been recognized by Mort-gage Executive Magazine as part of the top 1 of Loan Originators nationwide for the last four years Murphy a Worcester State University graduate was awarded the 2008 Worcester State Distinguished Alumni award in addition to funding six scholarships at the University In 2007 Murphy was given the Affiliate of the Year award by the Worcester Regional Association of Realtors Bill has also been a long-time supporter of the Make-a-Wish Foun-dation having donated over $120000 and granted 17 wishes over the past nine years

ldquoIrsquom honored that my clients and referral partners feel confident in my ability and have continued to work with me over the yearsrdquo said Murphy ldquoIrsquom humbled by this recognition and proud of the service I provide to each and every one of my clientsrdquo

Fairway Independent Mortgage Corporation has eleven locations in Massachusetts including the Auburn branch Fairway Independent Mortgage Corporation is among the top 10 lenders in the country and is the number eight lender for residential purchases in MA Working with the top national and regional investors Fairway is committed to providing customers with the best rates and programs available while also offering personal care to meet indi-vidual needs To reach Bill Murphy in Auburn call 508-407-8300 or email wmurphyfairwaymccom For more information visit wwwfairwaymortgagenecom

SUMMER HOURS

Please note that RACMs summer hours for July amp August will be 900 am - 400 pm

REALTORreg Association of Central Massachusetts 4 wwwcmarealtorsorg

MEMBERSHIP NEWSNew Applicants Emily Anderson Harwick Petersham Properties PetershamJaime Aviles Keller Williams Realty WorcesterHans Berg Exit Beacon Pointe Realty NorthboroSamantha Choate Keller Williams NCentral LeominsterDeanna Faucher Lamacchia Realty WalthamMelissa Greska REMAX Professional Assoc AuburnThomas Krumsick Keller Williams Realty WorcesterMark Lawton ERA Key Realty Services AuburnMardek Mardirossian Keller Williams Realty WorcesterPaulette McKenzie Keller Williams Realty WestboroJohn Millen Lamacchia Realty WalthamKeith Seymour Keller Williams Realty WorcesterMichelle Vecchio-Gangel Keller Williams Realty Worcester

New AffiliateAshley Slusser Quicken Loans 1050 Woodward Avenue Detroit MI

Agents Transferred to New OfficeNicholas Baniukiewicz Exit Realty Partners ShrewsburyLeonidas Dosreis LAER Realty Partners NorthboroStephanie Dupuis Waterwheel Realty BarreMatthew Jette Keller Williams Realty WorcesterBrittnay LaFleche LAER Realty Partners NorthboroPamela Mills Red Door Realty SturbridgeMorgan Nordby LAER Realty Partners NorthboroJasmine Randhawa Keller Williams Realty WorcesterPatrick Sullivan LAER Realty Partners NorthboroMegan Winslow LAER Realty Partners Northboro Ryan Winslow LAER Realty Partners Northboro

Affiliates Transferred to New OfficePaul Nocivelli Residential Mortgage Services 193 West Boylston Street W Boylston

George Simone Movement Mortgage 179 Shrewsbury Street Worcester MA

Time InstructorCourse Code

Course TitleTuesday July 12 - Auburn

800 am Brad Roberts RE22RC13 Title V1000 am Brad Roberts RE57R07 Brokerage Relationships1200 pm Brad Roberts RE73R11 VA Loans

Tuesday July 26 - Auburn800 am Brad Roberts RE34RC03 National Economic Trends amp the Real Estate Professional1000 am Brad Roberts RE59R09 Smart Growth Smart Energy

Wednesday August 17 - Auburn800 am Gary Bourque RE26RC07 Appraisal Process1000 am Gary Bourque RE51R06 Faciliator1200 pm Gary Bourque RE83C13 EscrowEscrow AgentsEscrow Accounts in Real Estate

Wednesday August 31 - Auburn930 am Paula Savard REALTORreg Code of Ethics Training

CENTER FOR REAL ESTATE STUDIES amp TRAININGUpcoming CEU Courses for July amp August

All classes are held at the RACM CREST School 492 Washington Street Auburn MA 01501 unless otherwise noted RACM Members in good standing receive FREE LOCAL CEUrsquos Tuition for non-members is $20 for each 2-hour CEU You may register for classes online at wwwcmarealtorsorg or by calling the RACM office at 508-832-6600

REALTORreg Association of Central Massachusetts 5 wwwcmarealtorsorg

Joseph AbramoffEntela AgolliZachary AicardiGary AndersonAllison AtwoodDiana AwuahMark BalestracciEllen BarryMary Ann BassignaniJane BeckerSheila BergerGail BergeronPaul BergevinArthur BerryDebra BerthiaumeCandice BettencourtJames BlackMichael BolandDan BondzieEric BowlinNatalie BrackettJames BrooksColleen BrosnihanVincent BrowneVanessa BurrillSamantha ButkiewicusChristine CaronCara CasamasimaAndrea CastinettiMary ChabotKimberly ChagnonWing ChanKathy ChapmanJoseph ChenevertTheodora ChorosWilliam ChvirukSusan ComoMartha ConversOloye CooperPamela CrawfordGlen CronanWilliam CroninJoan CrowellClifford CurboyAlyssa DAmoreJuliana DanquahSusan DavisThomas DeCarloDonna DeChiaroKim DEliaLauren DemerjianEwelina DendroulakisScott DennettDonna Desjardins

Lisa DeVriesRandall DeVriesAnn DigirolamoThomas DillonBen DoaneZachary DombroskiDonna DucaMichael DurkinDarlene EagerMichele EddyGina EliaLaura EliasonChristopher EsselMatthew EzzoTracey FiorelliPaul FossEric FranszenMichael FrongilloCarlos GalarzaRonald GarabedianBill GarciaJennifer GareauDemetrios GatosMichelle GillespieKathleen GoneauMartin GreenLisa GreeneChristine GregsonPatrick HackLynda HafnerSargon HannaDebora HarringtonLuis HenrriquezLorraine HerbertRuth HillerBarbara HinesJim HolbrookJennifer HollandCarla HornTimmothy Horn-EldredErnest HoudeLisa JacobsBrenda JacquesChrista JailletJustin JarboeWendy JohnsonShannon JohnsonElie KahaleDavid KresGeorge LamotheLinda LaneyPaul LatinoNeal LeBlancSophia Lengyel-Cook

Vincent Leon-ardoRocco LeoneSusan Le-thamShane Lud-denBeni Robert LukumuAlan LymanGrace MadsenKevin MaherAngela MannSally MannKarynsue Marchione-ReidyMichael MartinAngela MasielloRaymond MattressNicholas McNeilMichael McQuestonDaniel MeserveyMichael MieleWilliam MillerJay MooneyGina MoyErin MunroeJeanne MurphyJohn MurrayHerb NelsonTalena NgoDina NicholsMelissa OBrienKevin OConnorElizabeth OConnorLawrence OrneEdna OrtizLisandra PaganDuane PapettiEbenezer PappoeJean PaquinAlicia PassarelliApu PatelKeith PentzLinda PothierGary PothierRhiannon PrunierMarcia QuitadamoRichard Rawson SrCarl RellstabKatie ResseguieDeborah RichardsTrudy RisedorfAngela RogersJoanne Rose

Rosanna SampsonJillian SaucierKayleen SauvageauLorenzina SavageCaryl SavardChristine ScannellMaryann SchelinDeborah SchradieckLisa ShawGerald SkeeanOlga SkrodzkaKaren SlackMaria SmachettiMaria SmithLori StanikmasCarrie StevensRobin StoddardDorothy StoneTracey StoreyErika SullivanThomas SullivanMarc SuretteJeffrey TaylorRichard TrifoneChistine TruaxEsther TwumasiChris UlinskiJohn VaillancourtDonna VanDamJulie VenincasaMichael VoyerJohn WalkerJudith WesleyJulie WhiteJudith WhiteAmanda WhiteEllen WhitneyDeborah WilliamsGabrielle WilsonMegan WinslowJudith YauckoesElizabeth ZelchAlison Zorovich

JULY amp AUGUST BIRTHDAYSWishing a very happy birthday to those celebrating this month May your year ahead be filled with health happiness love and friendship

REALTORreg Association of Central Massachusetts 6 wwwcmarealtorsorg

Marketing SessionDATE Thursday July 14 2016PLACE REALTORreg Association of Central Mass 492 Washington Street AuburnTime 1000 am - 300 pmFREE CEU Class Join us from 10 am - 1200 pm for RE66C11 Anatomy of Commercial Building The Basics

REALTORSregCommercial Alliance

Benefits from attending this marketing session The Generation of Potential Transactions for Buyer amp Seller Clients or YOURSELF Possible Earned Commissions Networking with other Brokers Investors from the local market as well as Regional and National Players Creative transactions amp solutions Find Investor Cash for you or your clients

For more info contact Colleen Pappas at 508-832-6600 x 106

or cpappasrcamaorg

Peter West has been a REALTORreg since 1984 He is licensed in MA NY VT and FL Peter has been awarded the prestigious SEC designation from the Society of Exchange Counselors He also has the CCIM ABR and CRS designations A former National Sales Trainer for Century 21 Real Estate Corp Peter now trains real estate agents throughout all of North America He is a frequent presenter of NARrsquos buyer agency programs In 2007 Peter was inducted into the Buyer Agent Hall of FameHe is also a National Moderator for Commercial Equity marketing sessions Peter is a popular and frequent presenter at state and national conventions

Presented by Peter West

Herersquos one reason why you will want to plan to attend all 12 Sessions

5050Raffle

We will offer a 5050 Raffle at every sessionwith proceeds to benefit the MAR Charitable

Foundation Bring your checkbooks

100 of my 2016 Commercial Sales and Leases were a direct result of RCA-MA Marketing Sessions

Barb Davis-Hassan CCIM2016 RCA-MA President

Thank you to our sponsors

CEU Sponsor

REALTORSreg COMMERCIAL ALLIANCE TRAINING

REALTORreg Association of Central Massachusetts 7 wwwcmarealtorsorg

CODE OF ETHICS TRAINING

Code of Ethics Training

The National Association of REALTORSreg requires all REALTORreg members tocomplete a REALTORreg Code of Ethics course during the four year period that ends December 31 2016

Learn the role the Code should play in your business Enhance professionalism and competency Learn how to use the Code as a viable guide Learn the benefits of Arbitration vs Litigation

Learn the role the Code should play in your business Enhance professionalism and competency Learn how to use the Code as a viable guide Learn the benefits of Arbitration vs Litigation

You may register online at wwwcmarealtorsorg or call the office at 508-832-6600The REALTORreg Association of Central Massachusetts

492 Washington Street Auburn MA 01501

For your convenience RACM will hold classes on the following datesAll classes are FREE for RACM members and 2 CEUrsquos will be awarded

Weds August 31 930 am - 1200 pmWeds October 12 100 - 330 pmSat November 19 19 1230 - 300 pmWeds November 30 930 am - 1200 pmSat December 10 1230 - 300 pmWeds December 14 100 - 330 pmWeds December 28 930 am - 1200 pm

Alternately you may take online training on the NAR website athttpwwwrealtororgcode-of-ethicstrainingNO CEUrsquos are awarded for these online classes

Donrsquot wait until the last minute Fulfill your requirements early

REALTORreg Association of Central Massachusetts 8 wwwcmarealtorsorg

MAR NEWSInstructor Training Institute ITI

This is a program designed to prepare instructors of real estate education to develop course content organize course layout practice various instructional methods and deliver courses effectively to maximize adult learning

When July 27-28Prerequisite There is a 10 hour prerequisite for this course (information will be sent went registered)Where MAR HQ 1400 Main Street WalthamInstructor Paul ChassePrice $600 Course Outline

10 Online pre-req hours

bull e-Learning Educationbull Drafting a lesson plan that works onlinebull Distance educationbull Web-sessions webinars bull Live vs recordedbull Exploring platformsbull (Individual Project) Watch two MAR webinars and email

DropBox comparison questionnairebull Power Point Beginnerbull Power Point Advancedbull Use of presentation softwarebull Positives and negative of presentation software usebull Review the most popular free and web based toolsbull (Individual Project) Create a 10 minute presentation with

presentation softwarebull Review Live Course Syllabusbull Insight into the 2 day live training

Day One 830am-630pm

bull Review the course syllabusbull BiosIntroductionsbull Introduction vs Biobull Single project Write a speaker introduction about yourselfbull Class introductionsbull (Group project split into 2 or 3 groups) Create and record

a 10 minute presentation based on your presentation software project

bull Understanding the learning styles spectrum bull What are your natural training strengthsbull The four learning stylesbull The four steps of the learning stylesbull Group ProjectReview each 10 minute presentation re-

corded at the beginning of the day and discuss based on the days lesson plan

Day Two 830am-630pm

bull Preparing for the lessonbull Having the proper equipmentbull Effective time managementbull Drafting a lesson plan that worksbull Props games and funbull Gage success through effective evaluationsbull Group project (split into 2 or 3 groups) Create and record

a new 10 minute presentation and review with the class

Course syllabus subject to change Times may vary slightly due to class size

RegistrationhttpsmarealtorportalramcoamsnetEducationReg-istrationDetailsaspxcid=8ba6b5b7-9d1b-e611-a208-00155d240810

MAR CommitteesAre you or someone you know interested in serving on an MAR committee in 2017 Make your requests now The online Committee Request Form is now open on wwwmarealtorcom

bull Login to the MAR website bull Click on ldquoProfilerdquo bull Click the ldquoCommitteesrdquo tab and finally bull Click on the link to volunteer for a 2017 commit-

tee bullbull The deadline for submitting committee requests

is July 31 2016 All requests must be submit-ted online through the MAR Portal Contact Kara Morgan MAR Executive Assistant (kmorganmarealtorcom) with additional questions

MAR Good Neighbor AwardIn 2004 the Massachusetts Association of REALTORSreg (MAR) estab-lished the Good Neighbor Awards program to recognize real estate professionals for their community activism The award is to be pre-sented annually to REALTORSreg who demonstrate an extraordinary commitment to community service through volunteerism and civic and charitable contributions that improve the lives of local residents and make their community a better place to live

Entrants for the award may engage in a broad range of eligible activi-ties that might include but may not be limited to volunteer work in-volving affordable housing issues educational programs youth-related activities or any other civic or charitable activity that improves the lives of local residents or the community at-large

To Apply visit httpswwwmarealtorcommembersgovernanceabout-mar-awardsgood-neighbor-award

REALTORreg Association of Central Massachusetts 9 wwwcmarealtorsorg

RACM 18th ANNUAL GOLF TOURNAMENTJune 23 saw us with another sold out tourna-ment and an absolutely beautiful day on the course Thank you to all of our sponsors and our participants for making this a success We were able to donate $2000 to our 2016 Charities of Choice The Bridge of Central Mass and the Worcester Boys amp Girls Club

Thank you to our professional photographer Tony Chabot of Pro RE Photography and to Gretchen Antonelli of Forward Financial for all of these great shots

Congratulations to our winning teams FIRST PLACE Jo-Ann Szymczak Chuck Szymczak Ron Gagner amp Jan GagnerSECOND PLACE Steve Cavallo Andrew Burton Mark McCabe amp Aram Kalashian THIRD PLACE Kevin Holloway Lisa Shaw Nancy Shaw-Morley amp Anne Marie Rafferty

Big thanks to all of our major sponsors of this event as well as the greens amp tees sponsors

PLATINUM SPONSORSThe Law Office of Jessica AlbinoCahn amp Barron LLC Attorneys at LawFairway MortgageMovement MortgageNorcom MortgagePeoples Home LoansPrestige Home MortgageResidential Mortgage ServicesSouthbridge SavingsWintrust Mortgage

GOLD SPONSORSBank of CantonFidelity BankMLS PINSecurity First Mortgage The Law Offices of Scott Wrenn PC

SILVER SPONSORSCommonwealth Environmental ServicesLaw Office of Harry P Kotseas Peoples United Bank

BRONZE SPONSORSCountry BankForward Financial Services IncThe Law Office of David R Rocheford Jr PC

DRINK TICKET SPONSORSOpen Door Real Estate and Simonian and Murray Attorneys at Law

Longest Drive Sponsor Pam Crawford amp Lorraine Herbert of REMAX Professional As-sociates

Strings amp Mulligans Sponsors Residen-tial Mortgage Services amp Natures Way Landscaping

Marshmallow Drive Forward Financial Svcs

Chair Massages Heather Pederson of Country Bank

Golf Committee Chair Judy Patterson presents the 1st Place Awards to Jo-Ann Szymczak and her team comprised of Chuck Szymczak Ron Gagner and Jan Gagner

REALTORreg Association of Central Massachusetts 10 wwwcmarealtorsorg

RACM 18th ANNUAL GOLF TOURNAMENT

Second Place Team Third Place Team

REALTORreg Association of Central Massachusetts 11 wwwcmarealtorsorg

RACM 18th ANNUAL GOLF TOURNAMENT

REALTORreg Association of Central Massachusetts 12 wwwcmarealtorsorg

FALL MAR CHARITABLE GRANTSOur Community Action Committee was proud to be able to do-nate Golf Tournament Proceeds in the amount of $1000 to each of our 2016 Charities of Choice The Boys and Girls Club and The Bridge of Central Massachusetts

Each year our committee partners with two local charities and then we focus our committee efforts and fundraising towards their goals We are pleased to say that with our combined efforts with the MAR Charitable Foundation to date we have contributed over $5000 in dollars and donations

We also treated the charities to a Red Sox game on June 16 when we donated 10 tickets to the REALTORreg Day at Fenway

Thank you to all who helped make this yearrsquos tournament a re-sounding success especially Committee Chair Judy Patterson

The fall grant applications are due August 31 so if you are involved with a local charity that deals with homelessness please contact Colleen to see how your charity can be nominated for the grant You can download the grant application on our website at httpwwwcmarealtorsorgdocuments-library2016-housing-grant-application-mar-charitable-foundationpdf

Ken Bates from the Bridge of Central Mass

Ellin Terrill of the Worcester Boys amp Girls Club

Do you work in a community that needs some TLCThe Government Affairs Committee is looking for projects for NARrsquos Place-making Grant Program If you are a local community leader please let us know how we can help with beautifying a spot within your town Project ideas range from Little League signage to dog parks to beau-tifying a local monument NAR is ready to partner with us to help make your dream a reality

Contact Nathan Stewart head of the grant task force NathanStewartNEMovescom

Backpack DriveCan you help out with this years Backpack Drive The Commu-nity Action Committee welcomes donations of backpacks and sup-plies (see the full list of needs items on our flyer on the last page of this newsletter) or cash to help purchase items

Help is also need in packing and delivering the items on August 17 18 or 19

If you can help in any way items can be dropped of here at RACM or at any of the offices listed on the flyer Or give us a call and let us know your availability for packingdelivery - 508-832-6600

REALTORreg Association of Central Massachusetts 13 wwwcmarealtorsorg

COMMITTEE ON GOVERNMENT amp LEGISLATIVE AFFAIRS

Over 45 RACM members joined more than 500 REALTORSreg to advocate for home ownership and private property rights at the State House on June 12 at the annual Day on Beacon Hill Keynote speaker was Lieutenant Governor of Massachu-setts Karen Polito

REALTORSreg Fighting the Fight on Beacon HillThe saying ldquoIf Real Estate is your profession then politics is your businessrdquo has never been more true than in this political cycle In a two-year session of the Legislature thousands of bills are filed some of which result in legislation producing the laws of our Commonwealth

There are many bills filed with well-intentioned measures that are in direct conflict with an opposing concern Having trusted advocates help to discern the layers within the bills is extremely beneficial to our state representatives and senators That is why each June REALTORSreg are welcomed with open arms at the State House at our Day on Beacon Hill This year we cel-ebrated 31 years of coming together for this powerful day The relationships we have made with our local representatives is paramount in our efforts to protect and promote home owner-ship

How Can You Help

There are several ways you can become more involved

bull Calls to Action - We are so fortunate that our state associa-tion stays on top of the issues and keeps us informed and makes it easy for us to take action MAR will issue an email Call to Action to alert us to pending legislaton that will ei-ther help our industry or hurt us

Calls for Action are only issued in extreme circumstances so when you see one you can trust that it is important With this 2 year cycle ending July 31 there is much happening on Beacon Hill which is why we had 2 Calls to Action in June that are still pending resolution One bill pertains to energy scoring and the other concerns zoning Both issues are still in play and you may see more Calls to Action before the end of July Please take a moment and educate yourself on the issues by visiting httpswwwmarealtorcommembersgovernment-affairs

bull SPC (State Political Coordinator) ndash We have a program where members are assigned to their local senator or representa-tive and become a liason to help communicate our mes-sage If you would like more information please contact Erika Hall ceshall07gmailcom chairperson of the task force

bull Invest in RPAC When you see that amount on your annual dues invoice please be sure to check YES

bull Volunteer to be on the Government Affairs Committee and let your voice be heard 2017 appointments will be made this fall

Remember ndash we are the only association that lobbies on behalf of homeowners in America Be proud of your REALTORreg membership and communicate your value to your clients and customers

REALTORreg Association of Central Massachusetts 14 wwwcmarealtorsorg

LOCAL MARKET UPDATE

2015 2016 + ndash 2015 2016 + ndash

Pending Sales 700 862 + 231 2367 3091 + 306

Closed Sales 451 496 + 100 1619 2058 + 271

Median Sales Price $259500 $266500 + 27 $250000 $256000 + 24

Inventory of Homes for Sale 2586 1709 - 339 -- -- --

Months Supply of Inventory 61 33 - 453 -- -- --

Cumulative Days on Market Until Sale 110 100 - 92 129 115 - 105

Percent of Original List Price Received 958 962 + 04 940 949 + 10

New Listings 1187 924 - 222 3748 3800 + 14

2015 2016 + ndash 2015 2016 + ndash

Pending Sales 172 175 + 17 625 742 + 187

Closed Sales 129 140 + 85 432 517 + 197

Median Sales Price $217500 $194250 - 107 $215000 $200000 - 70

Inventory of Homes for Sale 498 371 - 255 -- -- --

Months Supply of Inventory 48 30 - 374 -- -- --

Cumulative Days on Market Until Sale 86 78 - 84 106 104 - 20

Percent of Original List Price Received 955 966 + 12 957 962 + 05

New Listings 246 190 - 228 892 903 + 12

- 326

Local Market Update ndash May 2016A RESEARCH TOOL PROVIDED BY THE MASSACHUSETTS ASSOCIATION OF REALTORSreg

Central Massachusetts Association of REALTORSreg

+ 97 - 20Year-Over-Year

Change inClosed SalesAll Properties

Year-Over-YearChange in

Median Sales PriceAll Properties

Year-Over-YearChange in

Inventory of HomesAll Properties

Does not account for seller concessions | Activity for one month can sometimes look extreme due to small sample size

Single-Family Properties

Condominium Properties

May Year to Date

May Year to Date

All data from the Berkshire County Multiple Listing Service Cape Cod amp Islands Association of REALTORSreg Inc and MLS Property Information Network Inc Provided by MAR Report copy 2016 ShowingTime

Median Sales Price BASED ON A ROLLING 12-MONTH AVERAGE

Entire State Entire State

Central Massachusetts Association of REALTORSreg Central Massachusetts Association of REALTORSreg

A rolling 12-month calculation represents the current month and the 11 months prior in a single data point If no activity occurred during a month the line extends to the next available data point

$200000

$250000

$300000

$350000

12-2007 12-2008 12-2009 12-2010 12-2011 12-2012 12-2013 12-2014 12-2015

Single-Family Propertiesb

a

$100000

$150000

$200000

$250000

$300000

$350000

12-2007 12-2008 12-2009 12-2010 12-2011 12-2012 12-2013 12-2014 12-2015

Condominium Propertiesb

a

REALTORreg Association of Central Massachusetts 15 wwwcmarealtorsorg

LEGAL HOTLINEMichael McDonagh MAR General CounselAshley Stolba MAR Associate Counsel Justin Davidson MAR Legislative amp Regulatory Counsel

Shining the Light on SolarAre you representing a client who is selling a home with solar panels on the roof Is your buyer looking to make an offer on a house with solar panels If so here is what you need to know to better prepare your client in advanceOWNED PANELS Are the panels leased or owned

Are the panels owned by the seller Or is the seller leasing them from the solar company If the panels are owned by the seller then they should be factored into the price of the home just as any other asset would be It would be prudent to search for comparable homes with owned solar panels as well

A Solar Renewable Energy Credit (SREC)

An SREC is created for every megawatt hour (MWh) of elec-tricity produced by a solar generator SRECs allow a seller with a solar array to use electricity that is produced by the panels and then separately sell the SREC to a utility com-pany You should factor in an SREC when valuing the asset Some solar owners use SREC brokers to handle the sale so if you have a seller who is part of a ten-year SREC program they may consider selling their future credits through such a broker If a seller does this they would then value their solar panels based on the energy savings that they provideBuyers need to ask sellers if they are part of an SREC pro-gram and whether the SRECs will be transferred with the panels If they are a buyer would also want to know what the average annual output of the panels has been so that they can properly value them

Leased Panels

If the panels are leased it can be a bit more omplicated When representing a seller with leased solar panels agents should recommend that the seller contact the leasing com-pany right away to let them know that they are planning to sell the home In fact some solar companies have set up departments specifically to work on lease transfers Whatrsquos a UCC-1

The solar company may reference a UCC-1 (Uniform Com-mercial Code ndash 1) that has been recorded with the property A UCC-1 is a legal form that acts as a lien against the solar equipment on the property and is used by the solar com-panies to protect their interest in the leased panels These finds should be recorded at your local registry of deeds

It is important to know whether or not a UCC-1 has been recorded with the property because some lenders may have concerns that the UCC-1 will take priority over the mortgage in the event of a bankruptcy Some companies will remove the UCC-1 filing and then replace it when the new mortgage is recorded

Buyer Clients

If your buyers are interested in a home with leased solar panels you may want to remind them to factor the monthly lease cost when determining whether or not they can afford the home The buyerrsquos lender is likely to consider this when making a determination on their loan Also buyers should review their credit scores because the solar leasing com-panies are going to ensure that the buyer can assume the costs of the lease before they approve a transfer

Seller Clients

Your seller clients have three options when dealing with leased solar panels 1 They can buy out the lease2 Transfer the lease to the new buyer or3 Attempt to transfer the panels to their new home al-though this option may only be available in rare occasions

Remember to always use caution when advising clients about solar panels The Attorney General published the fol-lowing helpful informational sheet on solar panels httpwwwmass govagonews-and-updatespress-releases2016advice-to-homeowners-considering-solar-panelshtml

You can always contact the MAR Legal Hotline if you have any questions at legalhotlinemarealtorcom or (800)-370-LEGAL

Please note a version of this article originally ran in The MAR Report the official blog of the Massachusetts Asso-ciation of Realtorsreg

REALTORreg Association of Central Massachusetts 16 wwwcmarealtorsorg

COMMUNITY ACTION COMMITTEE

RACM office hours are 900 ammdash400 pm during July amp August For assistance with the MLS Lockbox system please make an appointment with Lisa Sprague at 508-832-6600

Please LIKE our facebook page at httpswwwfacebookcomCentralMasslAssociationo-fREALTORS By doing so you will not only get up-to-the-minute information on everything

going on at RACM but you will help us to increase our visibility while growing your own busi-ness network

2016 BOARD OF DIRECTORS

President Kris Koliss

President Elect Sarah GustafsonVice-President Judy Patterson

Secretary Tracey Fiorelli

Treasurer Michael Meurant

Immediate Past President Brad Roberts

Diane Dabrowski DirectorMike DeLuca DirectorErika Hall DirectorLorraine Herbert DirectorLee Joseph DirectorKathy McSweeney DirectorLeslie Storrs DirectorJohn Vaillancourt DirectorAndrew Abu AlternateLeif Rosseland AlternateNathan Stewart Alternate

RACM STAFFExecutive VP

Colleen PappasOffice Manager Lisa Sprague

Marketing Manager Jacki DrsquoInnocenzo

to benefit the elementary and middle school children of Central Mass

We are looking to fill backpacks with the following supplies for elementary and middle school childrenAge-appropriate backpacks are needed as wellAnything you can contribute is greatly appreciated

Items may be dropped at RACM492 Washington StreetAuburn MA or at the followingmember offices

Cash donations gladly accepted

In order to assist our volunteers please do not put supplies inside of backpacks

If you can help pack or deliver items to schoolsplease let us know Help is ALWAYS welcome

REALTORreg Association of Central Massachusetts 492 Washington Street Auburn MA 01501 508-832-6600

Coldwell Banker - Shrewsbury Sturbridge WorcesterERA Key Auburn Spencer Whitinsville WorcesterEXIT Realty Partners AuburnJanice Mitchell Real Estate ndash HoldenParamount Realty - GraftonREMAX Professional Associates - Auburn Shrewsbury Spencer Sturbridge

Items Needed for each Backpack6 Pens6 Pencils2 Pkg of Lined Paper3 Highlighters1 Binder3 Notebooks3 Two-Pocket Folders1 Ruler1 Pencil Case1 Pkg of 8 Markers1 Pkg of Erasers1 Box of 24 Crayons1 Pkg of 12 Colored Pencils1 Bottle of Glue or Pkg of Glue Sticks

Drive runs from June 1 - August 12Packing days are August 17 amp 18Delivery day is August 19

Central MassachusettsREALTORreg Association of