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Why your best investment is a house |
MarketWatch last week published a very interesting commentary showing how home sales and other data highlight a real estate buying opportunity. Reprinted here is the first part of that article - be sure to click through to read the entire story by Jim Woods...
LOS ANGELES (MarketWatch) - I've heard it over and over again for the past couple of years from friends, family, business colleagues, and even my local bartenders and baristas. The refrain is eerily similar each time, and it sounds something like this: "What are you waiting for? Now is the time to buy that house." I ignored them for a long time, as I knew the metrics of large supply overhang, increasing foreclosures, slow GDP growth and anemic employment figures were liable to keep home prices down for some time.
But now, however, I'm thinking those bartenders and baristas just might be right - especially after Wednesday's news that new-home sales have hit an eight-month high. Read more on new-home-sales data.
If we look at the recent news in the housing segment, we see some very interesting trends developing...
Read the entire story from MarketWatch >> |
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Gamble Elected to MAR Leadership |
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KCRAR member Jim Gamble, CRS, GRI, Reece
& Nichols Southland, was recently elected to serve as Treasurer of the Missouri Association of REALTORS® in 2012. He'll work during 2011 as Treasurer-elect in preparation to join the MAR Leadership Team next year.
Please congratulate Jim when you see him! |
Speakers Bureau for Education Updates |
Need a speaker at your sales meeting? If you would like a free speaker for a brief presentation, invite someone from our Education Speakers Bureau to drop by your office.
Your KCRAR Education Committee has REALTOR® volunteers in your region who are eager to visit your office and give a short talk about what's cooking with our educational programs. They'll bring your office up-to-date on current offerings and what the future holds for new CE classes and certification courses.
They volunteered to devote their time so you'll be aware of important opportunities that might be overlooked in the hustle and bustle of daily affairs. Many agents miss out on courses and workshops that could help their business because they just didn't know about them.
The solution is simple! Just call KCRAR Education Director Jan Pringle at 913-661-1600 or e-mail janp@kcrar.com to make arrangements. |
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Banks, MID, and GSE Reform Covered in NAR's First Virtual Town Hall |
In an effort to get a better sense of the challenges REALTORS® face in today's market and explain to members NAR's positions and actions on key issues, the Leadership Team held its first-ever virtual "Town Hall" meeting last week. The panel heard questions and comments from members who were videoconferenced in from Northern Virginia and REALTORS® from around the country who called in.
If you missed the Town Hall or want a refresher, read this summary from REALTOR® Magazine and watch this recording of the meeting (login required). |
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Wells Fargo to Accept FHA Mortgages with Credit Scores Under 600 |
Wells Fargo announced that effective January 15, 2011, they will accept Federal Housing Administration (FHA) mortgages for borrowers with credit scores as low as 500.
For borrowers with credit scores 500-579, a 10 percent downpayment is required and the downpayment may not be a gift or be part of a downpayment assistance program. For borrowers with credit scores 580-599, a 5 percent downpayment is required and the downpayment may not be a gift or be part of a downpayment assistance program. Borrowers with a credit score of 600 or higher are required to have a 3.5 percent downpayment and a gift is acceptable. For all borrowers, seller concessions are limited to 3 percent. |
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No Mention of MID in State of the Union Speech |
President Barack Obama talked about the need to reduce the federal deficit and simplify the tax code in his state of the Union speech last week, but in leaving out the specifics of how he would accomplish those goals he left it unclear whether changes to the mortgage interest deduction (MID) would be part of the mix.
Read more >> |
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What a Celebration! |
 Thanks to everyone who attended the KCRAR and HMLS Installation & Awards CELEBRATION on Jan. 26! We had a fabulous time celebrating our award winners and honoring the outgoing and incoming Officers and Directors.
To see photos from the event, go to KCRAR's Flickr page here. |
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MAR Honor Society |
 The Missouri Association of REALTORS® Honor Society was founded to recognize and reward high professional achievement of members who seek excellence through education and voluntarily contribute their time and skills to MAR and MAR Association leadership.
To qualify, applicants must have a minimum of 150 total points from eight categories: Local Board Activity; State Association Activity; National Association Activity; Societies, Institutes and Councils of the National Association of REALTORS®; Political Involvement; the CENTER; Education; and Service. All activities must have occurred between January 1, 2010 and December 31, 2010.
If you're interested in applying for membership to the MAR Honor Society, please be sure to have your application to KCRAR no later than NOON on February 11, 2011. Find the application online at www.missourirealtor.org/content/RealtorResources.htm. Submit your applications via fax to Debbie Strange at 913-498-1110 or by mail at KCRAR, 11150 Overbrook Road, Suite 100, Leawood, KS 66211. |
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REALTORS® Federal Credit Union, where you and your money belong |
 KCRAR and Heartland MLS would like to announce our partnership with the REALTORS® Federal Credit Union!
Created by REALTORS®, for REALTORS®, they understand the unique needs of real estate professionals like you and have designed their products & services with you in mind. REALTORS® Federal Credit Union offers a wide range of financial services along with competitive rates.
Learn more about this great REALTOR® benefit at www.realtorsfcu.org. |
