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The 2010 KAR Convention & Expo registration is now open: early-bird pricing through July 31.

Highlights from KAR Summer Meeting
BOD Action Items

At the recent KAR Summer Business Meeting, members had the opportunity to learn more about square footage representation in MLS listings from a panel of professionals from across the state, share in an smart phone app session and enjoy Bar-B-Q while netowrking with other members. At the close of the meeting, during the BOD meeting, several important action items were presented:
- Motion made and carried to add a one-time special assessment to the KAR 2011 dues in the amount of $25.00 for the specific purpose of increasing the issues mobilization reserve fund.
- Motion made and carried to consider placing $100,000 of KAR reserves into NAR's Federal Credit Union.
- Motion made and carried to maintain approximately three months of operating funds in the two operating accounts (Central Bank and Smith Barney FMA), to hold the remaining funds for the current year in Smith Barney GSM account. Following review of the final, year-end financial statements, the investment sub-committee will determine if any excess cash can be transferred to the Smith Barney Investment account in accordance with the investment policy.
- Motion made and carried that if NAR officially supports a National Open House Weekend in 2011, KAR will be a participant.
- Motion made and carried that KAR actively pursue blog concept as delivery for valuable information to KAR members and report back at Convention.

- Motion made and carried to use Virginia Lawson as trainer for the 2011 Professional Standards training. Locations for the training will be in Lexington, Louisville and Madisonville, KY in January or February 2011. 
- Motion made and carried for KAR to work to repeal KRS 324.2812 in the Kentucky Statutes which states the following: The commission does not regulate nor have jurisdiction over community management associations.
- Motion made and carried to determine the appropriate method for eliminating fees for tax assessments and county clerk records which should be available at no cost under the KY open records law.
- Motion made and carried for Brenda Loyal to fill the vacancy of Dot Miller, term ending 2012, as RPAC Trustee.

Items of note:
KAR approved two (2) Ira Gribin Workforce Housing grant applications - LBAR and GLAR - for a total of $80,000. Each was approved for $40,000. These will now be sent to NAR for a final decision/approval.

See photos from the meeting
KAR Election Information
Deadline for nominations: August 17, 2010

Positions open: President-elect, Treasurer-elect, At-large Director, At-large Delegate, Region Director (for Regions 2,4,6), NAR Director and NAR Region 4 Vice President

To apply for any of the available positions, fill out an application and submit to KAR. Qualifications and descriptions of each of the positions and complete instructions is included in the application packet.

Find Out More
KREC Commissioner Application
Deadline for submission: July 23, 2010

Any Real Estate Licensee wishing to be considered for a 4-year term as a Kentucky Real Estate Commissioner should review the detailed requirements and complete the KREC Selection Application Form. To qualify, one must have been a resident of Kentucky for 10 years and have held a Kentucky Real Estate license for 10 years.
It's more than Convention - it's a destination!
Attend the KAR Annual Convention & Expo
September 21-23
Convention The KAR Annual Convention & Expo is being held at the French Lick Resort in French Lick, IN. The resort itself is very historic, brings with it a unique experience and has catered to famous guests from around the world.

Watch a video about the French Lick Resort

With Terry Watson as the keynote and several other top-notch CE instructors including Bill Lublin, Heidi Fore and Virginia Lawson, this event will provide tons of great education, tremendous networkings opportunities and a whole lot of fun including a REALTOR night out at Pluto's Alley with bowling, food, drinks and time to mingle with attendees from around the state. 

Early bird registration through July 31 is open and the price is low.

Register by July 31 for your chance to win a complimentary registration OR a free night stay with breakfast for two.

Find out more here
Lead paint rule from the EPA

The U.S. Environmental Protection Agency's Lead: Renovation, Repair and Painting rule governing the work of professional remodelers in homes where there is lead-based paint took effect April 22, 2010.

The rule addresses remodeling and renovation projects disturbing more than six square feet of potentially contaminated painted surfaces for all residential and multifamily structures built prior to 1978 that are inhabited or frequented by pregnant women and children under the age of six.

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S.A.F.E Act: Seller-financing

At the last KREC meeting, this issue was pushed into the spotlight by the legal staff so information is being made available to KAR membership to highlight what the S.A.F.E act means:

The Housing and Economic Recovery Act of 2008, signed into law on July 30, 2008 (Public Law 110-289) (HERA), constitutes a major new housing law that is designed to assist with the recovery and the revitalization of America's residential housing market - from modernization of the Federal Housing Administration, to foreclosure prevention, to enhancing consumer protections.

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Extension of tax credit closing deadline

The President recently signed into law a three-month extension on the deadline for home buyers to obtain the federal home buyer tax credit. Eligible taxpayers who contracted to buy a home, qualifying for the first-time home buyer tax credit before the end of April 2010, now have until September 30, 2010 to close the deal. To be eligible, buyers need to be in a binding contract that was in place by April 30, the original credit deadline.

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HUD issues guidance on home warranty contracts and RESPA

The General Counsel's office at HUD issued guidance on the appropriate circumstances under which brokers and agents can be compensated on a per transaction basis for selling home warranties.

Read More
Condo rules web page created by NAR

In many areas across the country, condominiums are a significant part of the real estate market. NAR has urged the Federal Housing Administration (FHA) and the government sponsored enterprises (GSEs), Fannie Mae and Freddie Mac, to develop policies that will give current homeowners and potential buyers of condos access to more flexible and affordable financing opportunities and a wider choice of approved condo developments. NAR has created a Web page focused on the condominium requirements for FHA and the GSEs so that members can find the rules in a central location.

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Organize your email inbox

Managing your e-mail inbox can be discouraging, especially if you receive hundreds of messages a day. Learn several tips on how to stay on top of your tasks and keep productivity maximized.

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LeadershipKAR Program - 2011  

Join a program that will put you in a class by itself.

The LKAR program brings together a select group of members who possess a broad variety of leadership abilities and accomplishments and provides leadership development and training all while forging new relationships with others from across the state. 

Applications will be available in August.

Find Out More Here
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July 2010
In This Issue
BOD Action Items
KAR Election Information
KREC Commissioner
KAR Convention
Lead paint rule
S.A.F.E Act
Tax credit closing deadline
HUD issues guidance
Condo rules
Organize your email inbox
CRS Courses
2010 Awards
Online CE courses
Denim & Diamonds
Broker Involvement Program
KAR social networks
Tax Rate Set
Rx Drug Card
Quick Links
CRS Courses
September 21
CRS 111 - Short Sales & Foreclosures

October 7 & 8
CRS 200 - Business Planning & Marketing

Find out more about dates, times, locations, pricing and how to register.

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2010 Awards 
Nat Sanders Education
Deadline: August 15

Community Service
Deadline: August 15
Online CE courses through KREEF  

It is now possible to earn CE credit for your real estate license renewal without leaving your home or office.

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)

Register Now
Denim & Diamonds
You could win a 1-carat loose diamond!

Purchase your jar with a $50 contribution to RPAC for your chance to win a diamond. Drawing will be held at the KAR Convention (you do not have to be present to win).

Purchase Form
Broker Involvement
Get involved in a program that will boost Kentucky's Call-for-Action response rates. If you are a real estate broker in Kentucky, please enroll (it's free and easy), and if you are an agent, please encourage your broker to join this effective network of broker leadership in public advocacy for REALTORSŪ across the United States.

Learn more and enroll here (to enroll, click the "Join the Program" button on the left side)
KAR social networks 
Follow us on:

Twitter NEW!
State Property Tax Rate Set 

The KY Dept. of Revenue has set the 2010 State Real Property Tax Rate at 12.2 cents per $100 of assessed value. This is the same as in 2009.
Rx Drug

This KAR member
benefit is being provided to you and your family & friends to help lower your prescription drug costs. Simply create and print your FREE Prescription Drug Card and receive savings of up to 75% (discounts average roughly 30%) at more than 54,000 national and regional pharmacies.

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