|
|
 For a good overview of market activity, every month on about the 15th market stats recapping the prior month's activity are posted on www.kcrar.com. Links to many prior months' reports are also posted for reference and comparisons. Go online for the full report, a brief summary of which (from the most-recently posted stats for March 2011) shows:
- An average combined (new and existing) sales price of $149,984, 5% lower than March 2010.
- Combined home sales of 1,884, 47% higher than the previous month.
- Combined home inventory of 16,808, virtually no change from March 2010.
- Supply of homes on the market (calculated by dividing inventory by the 12-month average of the number of sales) was 8.9 months for combined new and existing. This represents a market favoring buyers since the supply exceeds 6 months.
Heartland MLS Participants and Subscribers can find additional reports with more detail via the "Heartland Forms & Documents" link on the HMLS Matrix homepage. |
|
|
NAR has launched a website focused on the issues raised by the proposed rule defining a Qualified Residential Mortgage (QRM). The proposed rule is the first step in implementing a provision of the Dodd-Frank Act that requires lenders that securitize mortgage loans to retain 5% of the credit risk - unless the mortgage is a QRM or is otherwise exempt (for example, FHA mortgages are also exempt).
The proposed rule includes a very tight definition of QRM: a 20% downpayment, low debt-to-income ratios, and other strict credit criteria. NAR opposes such a narrow definition due to concerns that QRM-eligible mortgages will become the standard and limit the ability of responsible consumers who maintain good credit and seek safe loan products to qualify for affordable mortgages.
Learn more at NAR's QRM website here. |
Who doesn't LOVE a free breakfast? |
 KCRAR is currently planning our annual auctions benefiting the REALTORSŪ Political Action Committee (RPAC). These events are very special to us and the dedicated volunteers that plan them. In support of these volunteers and the work that RPAC does to support the industry, we are excited to announce the 2011 RPAC Office Basket Challenge!
We are asking your office to create a themed basket of donated items that will be auctioned off at one of our fundraisers (your basket will go to the auction in your Region). The office basket that raises the most funds for RPAC will be announced at the event and the winning office will receive a complimentary breakfast courtesy of one of our wonderful Affiliate members!
|
Is this really a buyer's market? |
With falling home prices and higher inventories, most of the public views real estate as a "buyer's market," in which buyers hold more of the control and sellers will more eagerly accept lower offers just to sell.
Not so fast, say buyers and sellers. More buyers are finding the sellers in the driver's seat. Buyer Young Hammack gave up looking for homes for a while after being outbid on three properties in California. "It's a false buyer's market," Hammack says. "If you think prices are cheap, wait until you start putting offers in."
Read the full story from REALTORŪ Magazine Online >> |
"Get Smart" at our next Free Friday Focus Workshop |
 There's a great deal involved in helping a homeowner lease their property. Considering the upswing in rentals these days, make sure you catch our next Free Friday Focus Workshop: "Residential Leasing & Management" on Friday, May 13 from 10-11:30 a.m.
Your instructor is Kandy Meehan, owner/broker of Home Rental Services, Inc. since 1989. Home Rental Services has recently been featured on NBC Action News, Fox 4 News and in the Kansas City Business Journal. Kandy is the winner of the Minority Service Business Owner for the State of Kansas 2001 and was nominated for four consecutive years for the Top 10 Small Business of the Year (a Kansas City Chamber of Commerce award).
This is not for CE credit; it's for "Get Smart" credit. Register online here. |
6 Reasons to Reduce a Home's Price |
The longer an overpriced home sits on the market, the more likely buyers will begin thinking something's wrong with it. Help your clients avoid a long wait for the right offer by branding, printing, and hand-delivering a free article detailing 6 reasons to reduce your home's price from the REALTORŪ Content Resource. |
Join us for our 4th annual Community Shredding event |
 Mark your calendar today for the fourth annual free Community Shredding event on Wednesday, May 25, from 1 to 4 p.m. in the KCRAR parking lot (11150 Overbrook Road, Leawood, KS 66211). You're invited to use this opportunity, hosted by KCRAR and Proshred, to clean out and dispose of documents in a secure, environmentally-conscious way.
NEW FOR 2011: SECURE E-Cycle Services - This year, variouselectronics will be recycled for free and others will be accepted with a minimal fee. For a complete listing of the electronic recycling services we are providing, and more information about the event itself, go here. |
