KAR News Update
October 2013
Top Stories
Kentucky's job growth rate at 1 percent 
In a recent report issued by NAR research, economic indicators and addresses what these indicators mean for REALTORS® and their clients were revealed. Kentucky was reported to have a 1 percent growth rate for jobs which places it at 35th overall.  Read More
Special elections set for December 10   
The field is now set for two upcoming Special Elections to fill vacant seats in the KY General Assembly - House District 7 (Rep. John Arnold retiring) and Senate District 13 (Sen. Kathy Stein recently appointed to a judgeship by Gov. Beshear). Both parties have selected their candidates. Election Day for both open seats will be on Tuesday, December 10, 2013. Read More
Spooktacular CE courses
Don't wait too late and risk a $500 fine. Continuing education is available.

October 30 - Hopkinsville, KY
Predatory Lending and You Said What?
6 hours CE

October 31 - Murray, KY
You Before Me: Demystifying Fiduciary Duties & You Said What?
6 hours CE

Register here

Online courses, including Core, are available - several to choose from - available 24/7 - register here
KAR News
In This Issue
"Like" the Kentucky REALTOR Facebook page - win $25
Be one of the first 500 people to "like" the new KAR Facebook page and be entered to win a $25 gift card. And you can keep up with what your association is doing in real-time - from legislative updates and technology to the newest business tools and member photos.
Kentucky Homes Matter
As Kentucky continues to fight budget issues, KAR has taken a proactive approach to educating members, consumers and legislators on why home ownership is important to Kentucky. The focus begins on protecting crucial tax benefits for home ownership and keeping sales tax on services from being placed on the transfer of property. If you want to learn more, the webpage includes an advocacy toolkit while the KHM website includes information as well as a downloadable flyer. Read More
License plate for KY REALTORS - promote your industry
KAR received approval from the state to produce an official KY specialty license plate. To start production, KAR needs to have 900 applications and fees collected. This is your chance to show off your REALTOR pride and support the real estate industry. If you want to learn more or have an interest in having your own plate, check out the instructions on the webpage. Read More
Housing Stats
These stats represent the market conditions for the entire state of Kentucky:

August 2013 vs August 2012
Homes sold 2013: 4,546 
Homes sold 2012: 4,186
% change: 9%

Median price 2013: $122,375
Median price 2012: $111,350
% change: 10%

Home sales are up 17.41% YTD 2013 vs 2012 and median prices are down less than 1% for the same period.
National Issues
Flood insurance remains a critical issue  
Five federal regulatory agencies are issuing a joint notice of proposed rulemaking to amend regulations pertaining to loans secured by property located in special flood hazard areas. The proposed rule would implement certain provisions of the Biggert-Waters Flood Insurance Reform Act of 2012 with respect to private flood insurance, the escrow of flood insurance payments, and the forced-placement of flood insurance. The agencies are seeking public comment by December 10. NAR will be submitting comments on this proposal to ensure that flood insurance remains available and affordable for property owners. Read More 
30 Under 30 applications accepted  
Each May/June, REALTOR® Magazine features 30 rising young stars in the real estate industry. In determining who makes the 30 Under 30 list, REALTOR® Magazine staff looks for candidates who are successful in the real estate business and have demonstrated skill, success, creativity, and leadership in their careers. Applications are due by January 15, 2014. Read More
Code of Ethics turns 100
2013 marks the 100th anniversary of the NAR Code of Ethics. Learn more about the history of the Code, how it has influenced real estate and the changes that have shaped what it is today. Read More 
Legal Matters
Broker lender has no special duty
A Wisconsin court has considered whether a broker owed a client a fiduciary duty when he was evaluating whether to approve a short sale for a property owned by the client where the broker held a mortgage.

Westwind Holdings, LLC ("Owner") borrowed $300,000 from Stephen Mills ("Broker"), with the loans secured against a commercial property owned by the LLC as well as a residential property owned by the LLC's sole member. The loan was made through a bank ("Bank") where the Broker had his retirement accounts. The Broker also held a broker's license and was part owner of Bear Realty ("Brokerage"). Read More 
Governmental Affairs / RPAC
Loan limits set to be lowered by FHFA    
Sixty-six Members of the House of Representatives weighed in with FHFA Acting Director DeMarco urging him not to lower the Freddie Mac and Fannie Mae loan limits. FHFA has announced they intend to lower the loan limits to encourage private growth in the mortgage market. Read More
KREAB announces several changes    
The Kentucky Real Estate Appraisers Board announced significant changes for Kentucky licensed/certified appraisers, education providers and AMCs. Changes include credentials for background checks, change in the deadline for continuing education and payment requirements.  Read More
Upcoming GRI course - audit discount and you can get a freebie
That's right, if you complete your GRI designation by the end of 2014, no matter how many courses you have left to take, KREEF will reimburse you the cost of your last GRI course* (1 through 5). Even if you only have one course left to complete the program, you qualify. When you send in your completed GRI application, KREEF will send you a rebate on your last course. Call 800.264.2185 for details. *Rebate equal to the early-bird registration price.

November 14 & 15 - GRI 5: Systems for Success - Louisville, KY

Also, if you currently hold a GRI designation, you can audit any of the GRI courses (1 through 5) for only $50. By auditing a course, you not only receive updated information to help in your business, you also receive the continuing education credit associated with the course. It's a win-win!

Course Descriptions
Instructor Bios
Learn more or register for GRI courses
Save 10% on NAR's CE-approved certification and designation online courses
Through the end of October, a 10% discount is available on NAR's CE-approved designation and certification courses offered online. The courses available are  listed here.

Enter coupon code RUCE10 during check-out and receive a 10% discount. Offer valid through October 31st on CE-approved courses only. Click here to register.
Appraisal courses now offered online
Appraisal courses are through McKissock Online Education and include the USPAP course as well as a selection of over 20 elective courses needed to complete the annual training requirements. The classes are approved by the Appraisal Qualifying Board (AQB) and also approved for Continuing Education by the Kentucky Real Estate Appraisers Board. Learn More
SRES online course is 25% off in October
You can save 25% through the end of the month on the revised Seniors Real Estate Specialist course through NAR. The courses counts as ABR, CRS and GRI elective hours and 3 hours elective CE in Kentucky. Register Now
From the KAR Blog
For the latest headlines, click here (there are hundreds to view) or check out some of the most popular posts below: 

Does Kentucky match your personality?

What Twitter users know that you don't

Homebuyers: To get the house, get there first

Kentucky would gain jobs from European trade agreement

Home loans become a little easier to get

You can subscribe to receive daily updates by clicking the links on the right hand side of the blog home page. Guaranteed at least one new post daily.
Affinity Partners
Contact GEICO for a free quote on insurance to see how much you could be saving. And don't forget to mention your KAR affiliation, you could qualify for an exclusive member savings opportunity.

KAR members can save up to 30% on UPS shipping. Members currently enrolled in the UPS Savings Program must re-enroll to take advantage of this new exclusive offer.

Showing Suite
Get feedback on your listings, improve communication with your sellers, and set yourself apart from your competition with HomeFeedback®.

Drug Card
As a member, you, your family & friends may be able to 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. This card can be used as your primary plan and/or it can be used on prescriptions not covered by your insurance plan.

Nationwide Insurance
Offering you a special insurance program that could save you up to $500 with special rates on your auto policy.

Read More
KHC offers Conventional No MI program
Wouldn't your clients love to have up to another $1,000 a year? With the exclusive Kentucky Housing Corporation (KHC) Conventional No Mortgage Insurance Program (No MI), they can!

KHC's No MI comes just as the Federal Housing Administration raised the monthly Mortgage Insurance Premium factors. This program enables eligible borrowers to go up to 97 percent of purchase price without having to pay upfront or monthly mortgage insurance. Based on a purchase price of $125,000, this could mean a savings of up to $1,000 a year!* Borrowers will have access to KHC's Down payment Assistance Programs, as well! For full details and terms, visit KHC's Web site, under Lenders/Realtors, Lender Services, Conventional No MI Program

*Terms and conditions apply. Please visit KHC's Web site for full details.
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Kentucky Association of REALTORS | kar@kar.com | http://www.kar.com | http://www.kar.com
161 Prosperous Place, Suite 100
Lexington, KY 40509
John May, 2013 KAR President