Entry forms for the 2007 Awards of Excellence have been faxed to all offices. Please note that the deadline for entries is TODAY, Friday, February 1. Entries received after midnight will be ineligible. Please use the guidelines online when applying for an award (available in Word and PDF formats).

THANK YOU for Donating the Gift of Life
Thanks to all who donated this week to the 10th Annual Beach Blanket Blood Drive. We are pleased with the turnout and look forward to report final donation totals in next week's newsletter. Our goal was to beat last year's record by 10%.

The Women's Council of REALTORS^® welcomes Ellen Boyle to the Eastern Shore to share her expertise, energy and enthusiasm with us. She is an expert in residential marketing, sales and promotion. She has served as a past Director of Training for a well-known and distinguished real estate firm with over 500 agents. With her reformatting of the agent training program, the new agents have excelled far quicker than ever before in the 49 year history of that company! She will be speaking on "Making 2008 the Best Year Ever by Discovering the Millionaire in You!"

Please join WCR at the Holiday Inn Conference Center in Ocean City at 66th Street next Thursday, February 7, at 9 a.m. A breakfast buffet is included. Cost is $20 for WCR members and $45 for non-members. Please RSVP to Lynette Catha at 443-497-3128 or email her at smilin4shore@comcast.net.

Any non-paid association dues are now past due and a $50.00 late fee was assessed on January 2. As of TODAY, members who have not paid will also owe a $75.00 reinstatement fee. We would prefer that members call the office or renew online now to pay your dues so we can collect all the additional fees in order to reinstate your CAR membership.

Due to security issues, the CAR office is no longer accepting cash payments. We apologize for any inconvenience this may cause. We do accept Visa and MasterCard, as well as checks.

Mark your calendars!...
The Coastal Association of REALTORS^® and the Women's Council of REALTORS^® are presenting DARRYL DAVIS, a nationally known real estate speaker to show us "How To Be Great In 2008." Don't miss this rare opportunity! The seminar will be held on Friday, February 29, from 9 a.m. to Noon at the Holiday Inn on 66th Street in Ocean City. COST: $25 for WCR members; $50 for CAR members.

Register Now >>

The following is a statement by Lawrence Yun, chief economist of the National Association of REALTORS^®, on the rate cut made by the Federal Reserve Board on Tuesday, January 22.

"Today's 75-basis-point cut in the Fed funds rate to 3.50 percent is a very good step in the right direction to boost the economy and send a clear message to both the market and to consumers. This strong rate cut will help lower mortgage interest rates and lessen the burden of adjustable-rate loans that are resetting in the current environment. It also could help stimulate business investment in the wake of market uncertainties. We commend the Federal Reserve Board on its bold action, but at the same time we urge it to keep a close watch to see if additional action is needed."

The following must be included in Public Remarks on listings for
Foreclosures and Short Sales:

• Foreclosure, "Third Party Approval required".
• Short Sales, "Short Sale, Third Party Approval required".

MLS Area Definitions
Following are the definitions of the MLS areas in Ocean City. Please review them and take them into consideration when inputting listings.

• Area 80 - A direct oceanfront building and the listed unit faces East (looks directly at ocean).

• Area 81 - A direct oceanfront building and the listed unit faces North, South, or West and may or may not have an ocean view (some examples would be 9400, Capri, Quay, Braemar, English Towers, etc...).

• Area 82 - A building East of Coastal Highway but not directly oceanfront. The listed unit may or may not have an ocean view.

• Area 83 - A building West of Coastal Highway not directly on the bay or canal.

• Area 84 - A building West of Coastal Highway and directly on the bay or canal.

REALTOR^® Change Form Revised
The REALTOR^® change form has been revised. Please use this form for any office or agent changes. The form is available on our website under REALTOR^® Resources. We ask that you please make copies for your offices.

#4 Check Roof Flashings Annually
Most roof leaks are caused by missing or faulty flashings (metal sheets that divert water) around chimneys, vent pipes, and roof plane changes. An annual flashing check and sealing will reduce interior water leaks and damage. This can be done by the homeowner inexpensively or by a professional roofer, which will obviously cost more.

(thanks to Alan Hoffman at Housemaster)

The CAR Membership Application, MLS Clerical Access Form and MLS Waiver Request Form are now located on our Web site at CoastalRealtor.org. You will find them under the section, REALTOR^® Resources. We ask that you please take advantage of this new feature.

We send this weekly update, as well as other important information via e-mail. If we do not have your correct email address you can either fill out a REALTOR^® Change Form that is located on our website under REALTOR^® Resources, or you may go into the Members Only section of the website and edit your membership information right online.

If you are not receiving this newsletter through your email and hearing about from an office mate, please check your listed e-mail, and contact the association office.