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Proposal to Curb Private Transfer Fees |
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U.S. regulators are proposing a new rule to ban Fannie Mae and Freddie Mac from acquiring loans where home buyers are charged private transfer fees.
Private transfer fees, also known as "capital recovery" frees, are inserted by developers for newly-built housing subdivisions. They require sellers to pay a percentage of the selling price to the original developer of the property every time the property changes hands for up to 99 years. The percentage charged is usually 1 percent of the sales price. Real estate groups have been speaking out against private transfer fees, calling it an unfair extra fee to home owners.
The Federal Housing Finance Agency has proposed a rule that Fannie, Freddie, and 12 Federal Home Loan Banks would no longer be able to acquire mortgages that have such fees.
Read the full article from Dow Jones Business News. |
The Comets Invite You to REALTORŪ Night |
 Coming up on February 25, the Missouri Comets will host a REALTORŪ night at their 7:35 p.m. game. You're invited to come out for the fun and at the same time support a great community cause. $2 from each ticket purchased by a REALTORŪ will go to Habitat for Humanity.
Tickets sell for $12, $15 or $20. The game will be at the Comet's home - Independence Events Center at the junction of I-70 and I-470 - at 7:35 p.m. on Friday, February 25. For more information about the Comet's REALTORŪ night, and to purchase tickets, contact Cydney Potter at 816-478-2255 (or see the registration flier here). |
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Lenders Acknowledge Credit Standards
are Too Restrictive |
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FHA Anti-Flipping Rule Waiver Applies
to All of 2011 |
FHA is extending its waiver of its anti-flipping rules through 2011 to help speed the sale of properties in distressed areas, HUD has announced.
For more information, contact Jerome Nagy at jnagy@realtors.org or 202-383-1233. |
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KCRAR Events Throughout the Region |
KCRAR has lots of great events coming up! Many of them are planned by committees located in the four KCRAR regions - Rivers, Northland, Sunflower and Show Me. No matter which region your office is in, you're invited to each and every event!
Our next events:
Wednesday, Feb. 16: Threats to Your Industry, an informational session hosted by the Rivers Region. Find out what real estate-related issues are up for discussion by our government - issues that could impact your business and your bottom line! Get all the details here or sign up online here.
Thursday, March 3: Just Spare Me, bowling tournament co-hosted by the Sunflower and Northland Regions. Gather your team and win prizes for the highest scoring team, team name, best dressed 80s look contests, and more. Go here for more info or sign up online here. |
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Missouri Business Week |
 It's not too late to submit applications for Missouri Business Week 2011. The student application deadline has been extended to March 15 or until the program is at capacity.
Missouri Business Week is an interactive summer conference for 200 high school freshmen, sophomores and juniors that teaches students how to manage and market a business. The program is sponsored by the CENTER for Education & Private Enterprise, the nonprofit foundation of the Missouri Association of REALTORSŪ.
Please encourage current freshmen, sophomores, and juniors in high school to apply right away. Corporate and REALTORŪ sponsorships are available to assist with the cost of tuition. Go to www.missouribusinessweek.com for the student application and financial aid form.
If you know any individuals or companies you think might want to be a sponsor, please contact Heather Grote at 573-256-7060 or heather@ga2.us. |
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Winter Weather Closing Policy |
When road conditions are extremely hazardous, the KCRAR offices may close.
If you plan to attend a meeting at the offices when roads are bad, please call 913- 661-1600 before coming. A recorded message will let you know if the offices are closed and when they'll reopen.
The KCRAR Education Department has a fixed winter weather policy. If Blue Valley Schools are closed, classes for that day are cancelled. Please listen to the morning news if the roads are questionable on your class day. You're also welcome to call the office if you have questions about the day's schedule. |
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Paws for a Cause |
 Reece & Nichols has partnered with the Northland Animal Welfare Society (NAWS) to host a pet food and supply drive to benefit metro area rescue groups in Missouri and Kansas. Boxes will be placed in each of the 20 Reece & Nichols locations during the month of February.
Dog and cat food, treats, toys, towels, bedding and monetary donations will be accepted. Clean and gently used items may also be donated. PAWS FOR A CAUSE will run through March 1st.
For more information, go to http://pcnaws.com/default.aspx. |
