40 summer st. fitchburg ma 01420 ph. (978) 345-2531 fax ... · volume 39, issue 5 news & views...
TRANSCRIPT
Volume 39, Issue 5 News & Views May 2016
40 Summer St. Fitchburg MA 01420 Ph. (978) 345-2531 Fax (978) 361-2262
www.ncmar.com
President’s Message
Susie’s email was hacked, Bob’s Facebook profile was copied, Chris didn’t send that link… In this technological age, we’re fortunate to get instant notification from leads, use mobile apps to find details on a home as we drive through a neighborhood and even submit an offer from the beach. Social media and the Cloud have brought us, our clients, family and friends closer than ever before whether we are next door or across the globe. Unfortunately, those conveniences don’t come without risk. Sharing of personal information via the internet provides opportunity for fraudsters to steal data for their own benefit. Accounts can be taken over, spoofed and held ransom. According to the FBI, e-mail compromise is a huge problem to the tune of a $2.4 billion issue and growing. Real estate is a target because of the volume of funds transacted. So, what can we do? While nothing is fool proof, there are measures we can take to protect ourselves and our clients. Look to see where emails are coming from and if reply to and send from addresses are different. Are there misspellings? Do domain names seem off? Update your anti-virus
software and routinely scan for viruses and malware. Pay attention to what you post on the web. Do you let everyone know that you’re on vacation and out of town? Check your privacy settings on social media. Be sure to alert your clients to use voice verification for any wire transfer requests. Use extra caution when dealing with foreign banks since many frauds use foreign accounts. If you or your clients do become victims of fraudulent transfers, make sure you report the fraud quickly. Recovery of funds decreases significantly after 3 days of wiring funds, so timely reporting is critical. With on-line scams increasingly prevalent, we need to be cautious not only in our in person activities but also our on-line presence. Be careful out there and in the Cloud. Now, between you and me, back to the beach I go.
Michelle
NCMAR Leadership
President Michelle Haggstrom Keller Williams Realty North Central. President Elect Locke Haman EXIT New Options Real Estate Treasurer Yasmin Loft Paula K. Aberman Associates Secretary Position Open Director Rick Cuddy Foster-Healey Real Estate Business Partner Director Katie Weldon Fidelity Bank Past President Thomas Ruble EXIT New Options Real Estate
Michelle Haggstrom 2016 NCMAR President
Premiere Sponsor
Page 2 News & Views www.ncmar.com May 2016
Notes from the MAR Legal Hotline Michael McDonagh, MAR General Counsel
Ashley Stolba, MAR Associate Counsel
Justin Davidson, MAR Legislative & Regulatory Counsel
.
Q. I have just listed a home that has solar panels on the roof. What are some things that I should know about the panels?
The first thing to do is to determine whether the panels are owned by the seller or if the seller is leasing them from the solar company. This will make a big difference in their value and any possible complications that may arise.
Q. My seller has told me that the panels are owned by the seller. What does this mean?
Since the panels are owned by the seller, 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) also should be considered when valuing the asset. An SREC is created for every megawatt hour (MWh) of electricity 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 company. 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 provide.
Buyers, on the other hand, should be asking sellers if they are part of an SREC program and whether the SRECs will be transferred with the panels. If they are, a buyer also would want to know what the average annual output of the panels has been so that they can properly value them.
Q. My seller has told me that the panels are leased. How does this change my analysis?
If the panels are leased, it can be a bit more complicated.
When representing a seller with leased solar panels, agents should recommend that the seller contact the leasing company 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. The solar company may reference a UCC-1 that has been recorded with the property. A UCC-1 acts as a lien against the solar equipment on the property and is used by the solar companies 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.
In the end a seller has three options when dealing with leased solar panels: they can buy out the lease; transfer the lease to the new buyer; or attempt to transfer the panels to their new home, although this option may only be available in rare occasions.
Q. I am representing a buyer who is interested in buying a home with leased solar panels. How will this affect the sale?
For those REALTORS® representing buyers interested in a home with leased solar panels you want to remind your clients to factor the monthly lease cost when determining whether or not they can afford the home. The buyer’s lender is likely to consider this when making a determination on their loan. Also, buyers should review their credit scores because the solar leasing companies are going to ensure that the buyer can assume the costs of the lease before they approve a transfer.
Remember to always use caution when advising clients about solar panels. The Attorney General published the following helpful informational sheet on solar panels: http://www.mass.gov/ago/news-and-updates/press-releases/2016/advice-to-homeowners-considering-solar-panels.html. You can also call the MAR Legal Hotline at 1-800-370-LEGAL.
The MAR Legal Hotline
is available free of charge to all office principals and their designees who have completed the Hotline Authorization form. To
obtain a copy of the form, visit MAR’s website at www.maREALTOR.com or simply call the Hotline at 800-370-5342.The Hot-
line is open Monday to Friday from 9:00 am to 4:00 pm
Page 3 News & Views www.ncmar.com May 2016
Good Neighbor Spotlight
Supra Deal
Laura McNamara of Laer Realty Partners is very involved in her community of Fitchburg. Lauren is currently in her sixth year serving as Chair of the Zoning Board in Fitchburg and has been on the Board for 13 years. Two recent projects that she has organized were the clean up of the stairs /gateway to the "Old FHS" now Longso Middle School and clean up around Putts Pond near Fitchburg State Elliott Field. Lauren has chaired Fitchburg Civic Days and chaired the Board of Trustees for the Wallace Civic Center & Planetarium and past Board member of the American Red Cross. She has co-chaired and played in Six Softball Marathons for different charities raising over $100,000 in donations for Brain Injured Children, A Child's Wish Come True, American Red
Cross - Hurricane Hugo, Wallace Civic Center, Wallace Planetari-um, Fitchburg Civic Days and Fitchburg Pop Warner. Lauren also was past President of Fitchburg Pop Warner and served for six years. Lauren is the mother of four wonderful children and has been married to her husband Chris for 33 years. When not working or renovating property in their spare time, Lauren enjoys time by the pool or at the lake with family and friends. NCMAR is very proud of you and your commitment to your community,
Please let us know of a member that is involved in their community. Send us a few details of their involvement so they can
be recognized for the involvement and for the organization or charity that they assist.
Lauren McNamara
Laer Realty Partners
Select your Key of Choice
Supra and MLS PIN are bringing you big savings for a limited time. Equip yourself with Supra keys and lockboxes before these deals run out on June 30th.
The DisplayKEY and ActiveKEY® are dedicated electronic lockbox keys, or choose the eKEY® app on a smartphone or tablet you already own.
The $50 key activation fee is waived through June 30th.
DisplayKEY $9.31/month + tax (billed annually) ActiveKEY $14.52/month + tax (billed annually)
eKEY Basic $14.52/month + tax eKEY Professional $27.34/month + tax
iBox $40, regularly $99
Free eKEY Fob
Sign up for eKEY service and receive a free eKEY Fob — a $58.39 value. The eKEY Fob works with the eKEY app to communicate with the iBox.
Where can you get your new key? Contact MLS PIN at 800-695-3000 or pick up at the NCMAR Office by appointment Tuesday to Thursday 8:30 am to 4:30 pm.
2016 Committee Chairs
Executive Committee
Michelle Haggstrom
Finance Committee Yasmin Loft
Government Affairs Committee
Tom Ruble
Member Services Committee Susan Wright
Technology Committee
Emma Weismann
Community Involvement Committee Denise Wortman
Communications Committee
Julie Paradise
Grievance Committee Gayle Sabol
Professional Standards Committee
Gary Bourque
Scholarship Trustees Christina Sargent
Ambassadors Judith Murphy
Awards & Recognition Workgroup
Michelle Haggstrom
Top Producer Workgroup Laura Shifrin
Young Professionals Network
Sarah Vincent
______________________________
MAR Directors Tom Ruble, Central Region RVP
Michelle Haggstrom William Foss
MAR Alternates
Locke Haman Judith Murphy
______________________________
MLS PIN Directors Rick Healey
Paula Savard
Page 4 News & Views www.ncmar.com May 2016
Kelly Kurtz EXIT New Options Real Estate Christopher Wilbur EXIT New Options Real Estate James Shadd Re/Max Property Promotions
Jack Vankann Paula K. Aberman Associates Katey Tata Foster-Healey Real Estate
MLS PIN offers free, hands-on training classes for our customers to learn the different levels of the Pinergy system. To register go to http://www.mlspin.com/schedule_registration.aspx If you have problems registering online, please call our Customer Service at (800) 695-3000, option 1, to register by phone. Registration is required to reserve your seat in each class. We recommend doing so in advance as seating is limited. All classes are free of charge for MLS PIN customers.
Welcome New REALTOR Members In accordance with Article V Section 1 NCMAR By-Laws notice is hereby given to all REALTOR members of the intention of the named individuals to become members of the Association. If any REALTOR member desires to make objection or comment concerning the named individuals, such objection or comment must be made in writing to the President within 10 days of this notice.
Training Videos are also available at www.mlspin.com/training_library.aspx
Take a look at all the videos made for you to get the most out of Pinergy.
COURSE SITE Date and Start Time
Pinergy’s Overview, Settings and Tools NCMAR 5/13/16 at 9:30 am
Pinergy’s Searching with Pinergy NCMAR 5/13/16 at 12:30 pm
Pinergy’s CMA and Market Reports NCMAR 6/20/16 at 9:30 am
Pinergy’s Listings Management NCMAR 6/20/16 at 1:00 pm
Page 5 News & Views www.ncmar.com May 2016
REMINDER: 2016 Is the Year to Complete Code of Ethics Training
All REALTORS® must complete 2 1/2 hours of Code of Ethics training between January 1, 2013 and December 31, 2016 according to NAR policy. To help REALTORS® meet this obligation, we offer in person classes taught by Paula Savard at Fidelity Bank in Leominster on
* June 8th, 5:30-8 pm *September 14th, 10-12:30 Sign up by going to www.ncmar.com
Also available are online ethics courses for your convenience.
To find out more information and learn about these ethics training resources and information, go to http://www.REALTOR.org/COEtraining.
Upcoming Legislative Events—Save the Dates
Save the Date! Thursday, May 26th at 4:30 pm
Gardner Ale House
For an Information Sharing Meeting with
Mayor Mark Hawke and NCMAR members
Topics to be covered
Sharing real estate market data
Identifying condo and homebuyers
Promoting Gardner’s amenities and offerings
2016 Events
New business development
Downtown revitalization
The City’s future plans
And more
Don’t miss this informative
meeting with the Mayor!
Save the Date! Monday, May 23rd from 8 am to 10 am
Doubletree by Hilton, Leominster Cost $10
Legislative Breakfast Guest Speaker Mike McDonagh, MAR Legal Counsel and
Government Affairs director
Mayors, City Councilors, Town Managers, Selectman, State Legislators and NCMAR members will network and interact at the Legislative Breakfast hosted by the NCMAR Government Affairs Committee
Topics of Discussion will include
Land Use and Zoning
Mortgage Forgiveness Debt Relief
Copper and Scrap Metal Theft from homes
Energy Efficiency
Real Estate Market Data
Local Issues effecting Real Estate
And more…...
You must register for this event at www.ncmar.com
Ethics Training for REALTOR Members
Page 7 News & Views www.ncmar.com May 2016
NCMAR Relay for Life Team
REALTORS and Affiliates Building on Hope welcomes walkers for the evening of Friday, June 10th and
on Saturday June 11th at Mount Wachusett Community College in Gardner
Please join us for an hour, a morning, afternoon or day to honor those that have won the fight, are battling today and those we have lost.
Register at http://main.acsevents.org
Do you enjoy running or walking in a 5K Race? NCMAR would like to field a team of 15 for the
upcoming Great Futures 5K to benefit the Fitchburg/Leominster Boys and Girls Club.
The race is Saturday, June 18th
at the Boys and Girls Club Leominster.
To register contact Kathy at NCMAR kathylore@ncmar,com
North Central MA Associations of REALTORS®, Inc. 40 Summer St. Fitchburg MA 01420
Office Hours: Monday to Friday 8:30 am - 4:30 pm (978) 345-2531
NCMAR Staff
Association Executive Kathy Lore, RCE, ePro Ext .101 [email protected] Member Services Coordinator Justin Lore, ePro Ext. 102 [email protected]
You’re Invited to
NCMAR Night Out Connect and Engage at the
905 Merriam Ave, Leominster
Thursday, May 19th, 2016
5:30 to 8:30 pm
Join your fellow NCMAR members for a fun night out with plenty of networking, good conversation
and an enjoyable time for all attendees.
The Member Services Committee will offer a 50/50 cash raffle where you may purchase tickets for $5 Half the funds raised from this raffle will go to a
local charity.
Sponsored by Kathy Malone of Puroclean.
Upcoming Events
Newsletter
Deadline for submission for the next issue is the last day of the month. For information on Business Partner advertising, contact the Association Office.
News & Views is available online at www.ncmar.com and every issue is emailed to our members. Print copies of the News & Views are available to members upon request. The subscription is included in the yearly local dues.
Calendar of Events May
4th Habitat for Humanity Women’s Build
9th Scholarship Committee Meeting 9:30 am
10-13 May Mid Year Legislative Meetings Washington DC
13th MLS PIN Training 9:30 and 12:30
17th Finance Committee Meeting 10am
17th Government Affairs Committee Meeting 11 am
18th Member Services Committee Meeting 9:30 am
18th Communications Committee Meeting 10:30 am
18th Community Involvement Committee Meeting 11:30am
19th CE Class Due Diligence 10 am—noon
19th NCMAR Night Out t UNO’s 5:30 pm
23rd Legislative Breakfast 8:00 am at the Doubletree
24th Board of Directors Meeting 9 am
25th DotLoop Training 9:30 am and 1 pm
June
6th June Awards Banquet 5 pm Westminster Country Club
8th Member Services Committee Meeting 9:30 am
8th Quadrennial Ethics Class 5:30 -8 pm
10th Relay for Life Mount Wachusett Community College
14th Government Affairs Committee 10:00 am
15th Communications Committee Meeting 10 am
15th Community Involvement Committee 11 am
15h Title V CE Class 10—Noon
16th NCMAR Night Out—Bootlegger
20th MLS PIN—Pinergy Training 9:30 and 12:30
21st REALTOR Day on the Hill
28th Board of Directors 9 am