August 2009
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In This Issue
Field of Bling
9 Twitter Myths
REALTOR Federal Credit Union
Online CE courses available
Online CE courses available
KAR Convention & Expo
Major changes to TILA (Regulation Z)
Pending homes sales on a record roll
FHA clarifies position on HVCC
Home sales show third month of gains
KAR Online - Social Networks
4 ways to cultivate 1st time home buyers
Online CE courses available
Online CE courses available
KHC: Find down payment assistance for your clients
KAR Convention & Expo
Field of Bling 

Get your chance to win a one carat loose diamond by giving to RPAC. For a $50 donation, you have a chance to select the winning number at the Field of Bling event, held annually at the Convention. You can purchase your chance (max. 10 per member) online or download a form from the Convention webpage. 

You do not have to be present to win. 

Download Form

100 Years In Celebration of the American Dream
Commemorate REALTOR® history with this beautiful coffee table book - FREE plus shipping and handling.
Order a copy for FREE

REALTOR Federal Credit Union offers eChecking

Dedicated to the unique financial needs of members, the REALTOR FCU, a new partner in NAR's Realtor Benefits Program, offers a full range of products supporting the professional and personal interests of REALTORS including eChecking and tons of benefits.

Learn More
GRI Schedule 

Download the 2009 schedule here

Courses are scheduled through December 2009.

Set yourself apart. Earn the designation that makes a difference and increases your income. The REALTOR® Institute has graduated thousands of REALTORS®. These professionals find the GRI designation a powerful tool for attracting and building new business as well as staying on the cutting edge of real estate standards.
Marketing with Microsoft -
as low as $75 

Thursday, October 1
Galt House, Louisville
Approved for CRS and GRI elective credit and 3 hours elective CE credit.
If you are registering as a group, registrations and payments must be submitted at the same time. Groups are not required to be from the same brokerage. Cancellations are subject to a $10 processing fee.

Pat Zaby, CCIM, CRB, CRS and GRI -has taught nationally for almost 25 years in the CRS and GRI programs. Spoken at the NAR Convention each year since 1978.

Call KAR (800.264.2185) for more information.

Download the registration form

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KAR Convention & Expo
Online registration is still open and prices are still low!

September 29 - October 1
Galt House
Louisville, KY
As part of KAR's Stimulus Package, registration rates are being held much lower than last year making the 2009 gathering a tremendous value!

David Knox will be the keynote speaker!

You'll have the opportunity to earn a full year's worth of continuing education credit, see the latest products and services at the Expo, network with your peers from across the state, socialize at the ever-popular KAR reception/Field of Bling event and advance your Association via our business functions.

NAR offers Short Sale Certification
Nearly one-third of all existing homes sold recently were either short sales or foreclosures, according to National Association of REALTORS® data.

To help practitioners meet the needs of home buyers and sellers who need these services, NAR has launched a new Short Sales and Foreclosure Certification Program (SFR).

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Pending homes sales on a record roll 

Contract activity for pending home sales has risen for six straight months, a pattern not seen in the history of the index since it began in 2001, according to the National Association of Realtors®.

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in July, increased 3.2 percent to 97.6 from a reading of 94.6 in June, and is 12.0 percent higher than July 2008 when it was 87.1. The index is at the highest level since June 2007, when it was 100.7.

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FHA clarifies position on HVCC
National Mortgage News recently reported that, according to the National Association of Mortgage Brokers (NAMB), the Federal Housing Administration (FHA) will not implement the Home Valuation Code of Conduct (HVCC) for its mortgage insurance programs.

According to the article, FHA Commissioner David H. Stevens met with a delegation from NAMB and discussed a variety of topics. After talking with HUD, NAR believes it is clear that FHA supports much of what the Code has accomplished. FHA is currently reviewing its appraisal policies and may adopt changes that take HVCC into account. 

On another note, Bipartisan legislation that would put the "Home Valuation Code of Conduct" (or HVCC) on hold for 18 months has steadily gathered support in the past month, and now has 54 co-sponsors.

Read More
Movers want bigger homes and better neighborhoods
Some 50 percent of people who recently moved did so to improve their living situation, whether to move into a bigger home or move to a better neighborhood, according to Relocation.com. Those were the results of Relocation.com's most recent survey, conducted in June. It's a dramatic reversal from a similar Relocation.com survey in March 2009 that found the recession played a much larger role in the decision to move.
As the primary reason for moving, No. 1 on the list was to live in a bigger/better home (26 percent), followed by living in a better neighborhood or area (24 percent); to be closer to family/friends (12 percent); living in an area with a lower cost of living (9 percent); or a move that was sparked by a change in marital status (6 percent). Moving because of school, job loss, retirement or foreclosure each garnered 3 percent or less.

Read More
KAR is online, Twitter added 

Join now and become a member of the KAR groups! If you are not currently on these sites, getting started is easy. Just log on to www.facebook.com, www.linkedin.com, www.activerain.com or www.twitter.com and set up a profile.

Joining is free and once you become a member, you can request to be added to the KAR groups. That's all there is to it.

To locate the KAR groups, use the search feature or go directly to the group:

KREEF Trustees: nominations wanted

If you know of anyone, including yourself, who would be interested or make a good addition as a Trustee for the Kentucky Real Estate Education Foundation, please have them complete a nomination form and return it to KAR.  The deadline is Tuesday, September 15 which is less than two weeks away.  

Openings will be for President-Elect, Treasurer-Elect and 5 regional Trustee positions. Positions are for a three (3) year term.
If you have any questions about the KREEF Trustees and/or would like to learn more, please contact Hunt Cooper at hcooper@kar.com.

Download a nomination form here
Scholarships available for GRI and College
KREEF makes scholarships available to members to continue their education and obtain the GRI designation as well as provide scholarships to members or to the immediate family of members who wish to further their education.

Click below to learn more about the scholarships available or to download a form:

GRI Scholarship
Online CE courses available
It is now possible to earn CE credit for your real estate license renewal without leaving your home or office. These courses may be entered and exited at your convenience. Once you register for a course, you can begin immediately.

All course work must be completed in a 12-month period to earn CE credit. Your completion date of the course determines the year the credit will be issued.

Three courses are available:

Enviromental Issues in Real Estate - 6 hours (3 hours law credit & 3 hours elective credit)

Real Estate Finance Today - 3 hours (3 hours elective credit)

Fair Housing - 3 hours (3 hours law credit)
Find down payment assistance for your clients

Kentucky Housing Corporation (KHC) has a new down payment assistance program, First Home Advantage, which allows first-time home buyers to use a second mortgage for down payment and closing costs to help purchase a home with P&I payments deferred until July 1, 2010. 

KHC has set aside $5 million for this program through November 30, 2009.  For full details, visit KHC's website, under Lender Services, Lender Resources, First Home Advantage Flier.

You can learn about more KHC homeownership programs and the current housing market at the 2009 Kentucky Affordable Housing Conference.  The conference is designed to offer valuable information about affordable housing from industry experts and leaders.  We hope you will register on KHC's Web site and look forward to seeing you Wednesday, October 28, and Thursday, October 29!