KAR News Update
December 2013
The KAR offices will be closed on Tuesday, December 24, Wednesday, December 25 and Wednesday, January 1.
Top Stories
Online courses to fulfill education requirements
Don't wait until the last minute to complete your education - you risk a $500 fine by the Kentucky Real Estate Commission. But don't worry, your education can be found online now. With several courses to choose - both online and live web - you have a good selection of topics that always fit your schedule.

Online CORE
Online CE
Live Web (CORE)
Realtor.com® ends AgentMatch pilot program
Move Inc., the San Jose, Calif.-based company that operates realtor.com®, has concluded a pilot program it was running in two markets on a product that would match potential sellers with agents in their area. The test of AgentMatch, which operated in Boulder, Colo., and Las Vegas starting in July, was the subject of some discussion, debate, and concern among NAR members. Read More
HUD issues final 'Qualified Mortgage' ruling
The U.S. Department of Housing and Urban Development released its final ruling on the definition of "Qualified Mortgage," which includes new requirements that mortgages must meet starting Jan. 10, 2014, in order to be insured, guaranteed, or administered by HUD or the Federal Housing Administration.

HUD's rule is similar to the existing qualified mortgage rule that was issued by the Consumer Financial Protection Bureau earlier this year. Read More
KAR News
KAR Legislative & Business Meeting
February 11 - 13, Frankfort, KY
Registration is FREE and OPEN to all Kentucky REALTOR® members and will be available soon. Register now and check the website for regular updates and meeting materials.
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. "Like" here
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:

Third quarter 2013 vs Third quarter 2012

Homes sold 2013: 13,357 
Homes sold 2012: 11,132
% change: 20%

Median price 2013: $109,000
Median price 2012: $111,350
% change: -2%
National Issues
Registration for new .Realtor domain open
Priority registration for the new .REALTOR top level domain is open. Sign-up now to receive advance notification to claim your .REALTOR domain as soon as it becomes available. The hope is to have this ready by Q1 2014. Check out a FAQ and video on the website.  Read More
The #PowerofR
The Power of 'R' is you and all you do to advocate for the real estate industry and the nation's 75 million property owners -- in your community, at city hall, at the state house, and on Capitol Hill. Standing one million strong, REALTORS® help build vibrant communities; they help people achieve the American Dream of home ownership; and they champion accurate, reliable data as part of a real estate transaction.

Use the #PowerofR to share all the good you do with others in the industry and with consumers. Share your stories and photos on Twitter, Facebook, and Flickr using the hashtag #PowerofR and update your Facebook cover photo with one of NAR's pre-made banners. 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
Legal Matters
2014 Code of Ethics
The 2014 Code of Ethics has been posted to Realtor.org and is now available for immediate download. Click here for a copy.
Allegations over model form rejected
Vermont's highest has considered whether a buyer could allege that a REALTOR® association violated the state's consumer fraud laws when a form it created was used in the buyer's real estate transaction.

Janet Knutsen ("Buyer") purchased a home from Leonard and Lorraine Sweetser ("Sellers"). While prior flooding on the property had been disclosed to her, she filed a lawsuit alleging that the flooding problems were far worse than what was disclosed to her. After settling with some of the parties to the lawsuit, her claims against the seller's brokerage and the Vermont Association of REALTORS® ("Association") remained.  Read More
Governmental Affairs / RPAC
Update on the flood insurance issue
In the past few days, NAR ended the Call-for-Action on the flood insurance issue as Congress has adjourned for the year. When they reconvene in 2014, here is where things stand:
  • The House has not taken a vote on the NAR-supported "Homeowner Flood Insurance Affordability Act."
  • The Senate bill has not yet been taken up for consideration by the requisite committees.
  • A different bill to delay implementation for one year was withdrawn due to various objections from conservative Republicans, who do not support any delay, and Democrats who support a more costly, but longer 4 year delay.

When KAR learns more about what the Association can do, we will pass along the details. In the meantime, KAR is still collecting stories on how the flood insurance issue impacted you and your clients. If you would like to share, please email kar@kar.com.

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
Appraisal courses 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
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: 

Move and AOL Real Estate ending 2-year relationship, Zillow steps in

New mortgages to get pricier next year

Have you Googled yourself lately?

Rental affordability crisis is here

Kentucky cities make "Best Cities" list

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.
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You just may save enough over the holidays to put a little extra spending money in your pocket.
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.karblog.com
161 Prosperous Place, Suite 100
Lexington, KY 40509
John May, 2013 KAR President