| Buyer’s Conveyance Tax Killed |
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Senate Bill 1019, was killed in the State Senate. This bill would have resulted in ANOTHER increase in real estate conveyance taxes – this time on homebuyers! This is good news for consumers and the housing market. Thanks to all who helped protect CT home buyers! We appreciate the Senate not making it harder to buy a home in Connecticut. Let your lawmakers know they should continue to keep home ownership within reach during the next legislative session as well.
To defeat the homebuyers tax (SB 1019), CAR produced these radio spots. They aired on radio stations across Connecticut beginning May 25th until recently. Since SB 1019 was killed, a new ad has been airing, you can listen to it here. Print and web ads were also produced and distributed.
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| Revised Save the Date for Wine Tasting-September 15th |
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Please note that the second annual Autumn Wine Tasting will be held on Thursday, September 15, 2011 (not on September 22 as reported in the last hotsheet). We apologize for any confusion.
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| Polish Your Skills on June 23rd! |
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On June 23rd CAR will host a one-day Instructor Training Workshop featuring National Trainer/Speaker/instructor Cherolyne Fogarty. This unique program provides opportunities utilizing practical skills to bring out the best in you! This program is open to and designed for just about anyone running Association or office meetings, doing any type of presentations, etc. – the topics covered in this workshop will be invaluable to you! Click here for a message from our speaker, Cherolyne Fogarty and also see what others had to say about her workshop.
Deadline to register is Friday, June 17. For more information and to register click here.
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| Congratulations to Adorna Carroll! |
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Adorna Carroll, of Realty 3 Carroll & Agostini, was named a recipient of the 2011 NAR distinguished service award. She was announced as a winner at the Board of Directors meeting during the Mid Year Meetings. This award is a significant national achievement.
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| Did You Remember to Renew Your License? |
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The Real Estate commission has noted an increase in the number of salespeople who did not renew their licenses but who continue to practice real estate. Some of these salespeople are under the mistaken impression that there is a “grace period" to pay the renewal fee. There is no such thing. A salesperson’s license that was not renewed by May 31st, with the fee paid, has no license and may not continue to engage in the real estate business. A license may be reinstated without the necessity of taking principles and practices and passing an exam if the reinstatement is performed, and this includes paying all back renewal fees, within 2 years of the date of the license expired. Brokers are reminded that they are responsible for the unlicensed practice of their salespeople and the Real Estate Commission will fine brokers who have unlicensed salespersons working for them. For further information, please contact CAR’s General Counsel Eugene Marconi at (860) 290-6601 or (800) 335-4862, or email marconie@ctrealtor.com
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| Many REALTORS® Have Been Doing it Wrong? Have You? |
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If your landlord client asks his new tenant to pay, up front, first month’s rent, last month’s rent, two months’ security deposit and a pet deposit, he is wrong. If that’s what you think is legally correct, you are wrong, too.
Here’s why: “Security deposit” is defined in the statutes as “any advance rental payment other than first month’s rent and a deposit for a key or special equipment”. That’s any advance rental payment other than first month’s rent for a key or special equipment. (CGS §47a-21)
There is no mention of a “pet deposit”.
There is no mention of “last month’s rent”.
First month’s rent is okay. Security deposit is okay.
That’s it. That’s all.
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| CAR's Foreign Language Directory |
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If you or a member of your office speaks a foreign language and would like to be included in the next Foreign Language Directory update, click here and fill out the online form by Friday, July 15.
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| Would You Like to See the “Future of Real Estate”? |
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CAR’s 10th Annual Leadership Conference welcomes Real Estate Advisor Jerry Matthews who specializes in making presentations on future trends and facilitating strategic thinking. With dramatic changes coming to the real estate industry, Jerry’s presentation “The Future of Real Estate: Mobile, Social, Local” will be an insightful look into the future of real estate. Plan to join Jerry and a great line up of speakers at this year’s Leadership Conference being held at the Mystic Marriott Hotel & Spa in Groton on November 29. Click here (www.JerryMatthews.com) to learn more about Jerry Matthews and visit www.ctrealtor.com/leadconf for further conference details and information.
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| Sponsor Spotlight: One Call |
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Many CAR programs/events would not be possible without the continued support of our generous sponsors. We hope that you will help us thank them for their support by taking a minute to check out the various products and services they have to offer.
OneCall has been a long-time sponsor and supporter of CAR. This year, they are sponsoring our Leadership Brunch during the 10th Annual CT REALTORS® Leadership Conference. OneCall is an award-winning provider of enhanced unified messaging services for the real estate community, telecommuters and other mobile professionals. In the MA/CT areas alone, more than 7,000 agents use OneCall’s Mobile Manager service! OneCall's founder and president, Garrie C. O'Neill, combined his knowledge in real estate and years of executive experience in the telecommunications industry to create the perfect service for the unparalleled needs of real estate agents. Click here to find out more about OneCall’s Mobile Manager which is an extraordinarily powerful service that unifies your phones (landline, cell), fax and email communications, using a universal personal telephone number (choose local or toll-free), for only $18.95/month, with a no-risk month-by-month contract, no equipment to buy and nothing to install.
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| Want to Eat Out for Less? |
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If you answered “yes” to this question, be on the lookout for CAR’s Legal Department’s QUIZ QUESTIONS. There will be a new question every two weeks, all correct answers will go into a hat and the lucky name drawn wins a $25 restaurant.com gift card. Where’s the QUIZ QUESTION? It’s on CAR’s home page under “The Latest From CAR”.
CONGRATULATIONS to Darrell Burne, last week’s winner! Every two weeks, all correct answers will go into a hat and the lucky name drawn wins a $25 restaurant.com gift card.
So, if you want to prove you’re smart and lucky and want to eat out for less, CHECK THIS OUT!
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| FREE Real Estate BarCamp in Boston |
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You say nothing in life is free? RE BarCamp is TOTALLY FREE! This one-day event on June 22nd consists of unstructured Real Estate sessions where participants are encouraged to actually facilitate/present topics or just choose which sessions on current topics/issues presented by your peers to participate in. Lunch will be provided and there will be a charity raffle with 2 iPads as prizes. Come gain priceless knowledge and powerful connections with other real estate professionals for FREE! For more information, click here.
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| In This Issue: |
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| Hotsheet Legal Tip |
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A Power of Attorney
A person with a power of attorney is authorized through a legal document to act as an agent for another. The scope of the agent’s authority is limited to the power indicated in the power of attorney document. For example, someone who has power of attorney for real estate transactions can sign documents such as listing agreements and purchase and sale agreements.
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| Real Estate News |
| Foreclosure Starts and Sales Post Sharp Declines in April
Both new foreclosure actions and completed foreclosure sales took a dive in April after rising sharply the month before, according to industry data released recently. Foreclosure starts nationwide were approximately 163,000 in April, down 25 percent from 217,000 the prior month, reports the industry alliance Hope Now. An earlier assessment by the nonprofit group showed that new foreclosures had increased 21 percent over the February-to-March period. Read More.
Source: Real Trends
For more interesting real estate news, please visit here.
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| Member Benefits |
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Featured Benefit:
Exclusive Pre-Sale: XL Center
Special pricing is available to CAR members for a variety of events at the XL Center in Hartford. Event links will change often…so be sure to act quickly since a limited number of tickets are available at special rates.
Cirque Du Soleil will be coming to the XL Center August 31st – September 4th, 2011! The mission of Cirque Du Soleil is to invoke the imagination, provoke the senses and evoke the emotions of people around the world.
On Saturday, October 22nd the BOSTON CELTICS will be playing the NEW YORK KNICKS at the XL Center in Hartford. Watch Ray Allen and the rest of the Celtics take on Carmelo Anthony, Amare Stoudemire and the rest of the Knicks!
For more information and to purchase tickets click here.
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111 Founders Plaza, Suite 1101
East Hartford, CT 06108
1-800-335-4862
Fax: 860-290-6615
www.ctrealtor.com
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