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 For a good overview of market activity, every month on about the 15th market stats recapping the prior month's activity are posted here. 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 June 2011) shows:
- An average combined (new and existing) sales price of $173,646, 4% lower than June 2010.
- Combined home sales of 2,416, 11% higher than the previous month.
- Combined home inventory of 17,308, representing a 1% increase in total inventory over the past year.
- Supply of homes on the market (calculated by dividing inventory by the 12-month average of the number of sales) was 9.8 months for combined new and existing. This represents a market favoring buyers since the supply exceeds 6 months.
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REALTORS® Win on MARS Rule
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The Federal Trade Commission announced last week that it would no longer enforce most provisions of the Mortgage Assistance Relief Services Rule (known as MARS) against real estate professionals who assist financially distressed homeowners in obtaining short sales from their lenders or servicers. The decision was the culmination of several talks between the National Association of REALTORS® (NAR) and the FTC.
Some, but not many, KCRAR members had begun implementing the MARS rule, which required real estate agents to make several disclosures related to the sale of short sales. If you created and used these disclosure forms (KCRAR does not have this form), you no longer are required by law to do so. However, always check with your broker before making any change in your practice with regard to short sales to ensure you comply with your office policies.
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SFR - Short Sale and Foreclosure Resource
Coming up on Sept. 22
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 It's been two years since we offered this course from the National Association of REALTORS® (NAR). Short sales haven't exactly slowed down since then, so get on the bandwagon! This is a unique opportunity to really learn what to do and definitely increase your sales numbers. You'll be proud to show the initials of SFR behind your name.
The course is slated for 9 a.m. to 5 p.m. on Thursday, Sept. 22 in the KCRAR classroom. You'll earn six hours elective CE for Kansas and Missouri.
There is NO cost to take this one-day course. However, in order to be officially certified and use the SFR logo, NAR will charge you a one-time fee of $175. If you took this course online at NAR, the course itself would cost another $115 and there would be no CE credit. We're doing our best to bring you a good deal!
Register for the certification course here.
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Expand Your Network, Increase Your Referrals
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Certainly, you know the benefits of having a vast network of other real estate professionals and the flow of referrals it can bring - not to mention the referral fees that can come with it. But beyond sales associates, who else is in your professional network? Sure, lenders and title companies make good networking buddies. But you may be missing opportunities if you stop there.
Learn how to get others to start bringing more business your way through a professional network that includes some unexpected professionals all coming together for the sake of swapping referrals.
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Gen Y to lead 'Massive Increase in Housing Demand"
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 Watch out for Generation Y: This large, diverse, well-educated generation will drive the housing market recovery over the next 10 years, according to economists with the University of Southern California Lusk Center for Real Estate.
Gen Y (15-32 year olds) boasts about 77.4 million members, which is about equal in size to the baby boomers (46-64 years old). Yet, Gen Y is much more diverse and educated (60 percent of Gen Y goes to college), according to the center, which recently presented its findings at the USC Lusk Center Orange County Executive Briefing.
Stan Ross, Lusk Center Chairman of the Board, says that "baby boomers and Gen Y comprise 50 percent of the population and will soon be part of the largest U.S. wealth transfer ever." And as more of this age group joins the work force, "they will produce a massive increase in housing demand," forecasts the USC's Lusk Center.
Read more from REALTOR® Magazine Online >>
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6 Rules to Boost Your Negotiating Skills
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