KAR News Update
May 2014
Top Stories
GSE reform: what's next for the Johnson-Crapo bill?
The Senate Committee on Banking, Housing, and Urban Affairs passed to the floor the Housing Finance Reform and Taxpayer Protection Act, commonly known as Johnson-Crapo, by a 13-9 vote a few weeks ago.

Johnson-Crapo, supporters say, would reform the U.S. housing finance system by winding down Fannie Mae and Freddie Mac and replacing them with a new system in which private capital would be in a first-loss position prior to a catastrophic government guarantee being made available. Read More.
NAR Chief Economist Yun presents forecast 
Lawrence Yun, NAR Chief Economist, presents to Kentucky REALTORS on the state of the real estate industry in the state and how the economy is affecting home buyers and sellers. He describes the market over the past years relating to the housing crash and what the future holds through the current recovery period.

Lawrence Yun: Real Estate & Economic Outlook
Lawrence Yun: Real Estate & Economic Outlook

KAR Summer Business Meeting 
Registration is open and is free to all KAR members. This event, located at Lake Barkley in Cadiz, is a great chance to network with colleagues in a relaxed, casual atmosphere while learning more about the current real estate market and what the state association is doing for you. This meeting will be the most fun you'll have all year! Limited rooms may still be available. In addition to the business side of the meeting, there are lots of fun networking activities planned including bbqs, boat cruise, dunking booth, trivia night, ice cream social and more.

Click here to register for the meeting and here for the boat cruise.

2014 KAR Summer Business Meeting
2014 KAR Summer Business Meeting

In This Issue
KAR elections for leadership positions 
Deadline is September 3
KAR is seeking nominations for several leadership positions for 2015. The information regarding the openings, terms, voting information and the form are included on the website. If you need additional information or would like to discuss, please contact Julie Johnson, Legal Affairs Director, at 800.264.2185 or by email. In addition, this year Kentucky will elect it's NAR Regional Vice President for Region 4 (KY, TN, SC, NC) which only occurs once every four years.

Open Positions:
President-Elect (1 position, 1 year term)
Treasurer-Elect (1 position, 1 year term)
At-Large Director (3 positions, 3 year term)
Region Director (3 positions, 2 year term) - Regions 2, 4 & 6
At-Large Delegate (3 positions, 3 year term)
NAR Director (1 position, 3 year term)
NAR Regional Vice President (1 position, 1 year term for 2017)
KAR News
Become a better leader, get involved with LeadershipKAR  

Would you like to join the ranks of some of the most successful REALTORS® from around the state? You can by becoming part of the LeadershipKAR program, offered by the Kentucky Association of REALTORS® since 2002. Recognizing that leadership development is an essential element in the process of improving our Association and profession, KAR:

  • identifies emerging REALTOR® leaders throughout the Association. 
  • encourages them with motivational activities and skill building sessions and retreats across the state. 
  • assists in sharpening their leadership skills in the hope they will exert a strong positive influence on the future of the Association and profession.  

Learn more on how to become part of this program and start the journey to leadership. Read More

KAR Award Nominations 
REALTOR® of the Year Award (Word version)
Deadline: Saturday, June 1, 2014

Distinguished Service Award
Deadline: Friday, June 14, 2014

Nat Sanders Education Award
Deadline: Friday, August 15, 2014

REALTOR® Community Service Award
Deadline: Friday, August 15, 2014
"Like" the Kentucky REALTOR Facebook page
Do you want the inside scoop on all things real estate in Kentucky? Then get in on the action. 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
Housing Stats
These stats represent the market conditions for the entire state of Kentucky. For a complete breakdown of housing stats, click here.

March 2014 vs March 2013

Total Homes Sold 2014: 3,524
Total Homes Sold 2013: 3,391
% Change: 4%

Median Home Price 2014: $99,250
Median Home Price 2013: $109,500
% Change: -9%
Governmental Affairs / RPAC
NAR President Steve Brown announces Consumer Call for Action
NAR is conducting the first test of the Consumer Outreach Program by launching a Consumer Call for Action (CCFA) to 85 million homeowners, including several million prospective owners, across the country. The CCFA commenced on April 30, 2014, and will run through mid-July (at least). This consumer outreach will help NAR find out more about how they should communicate with consumers in the future. It is part of a concerted homeownership awareness, education and action campaign by NAR to demonstrate to homeowners that REALTORS® share concerns with consumers on issues relating to homeownership; and that REALTORS® can be counted on to articulate those concerns and stand up for consumers at the federal, state and local level.
2014 Legislation - effective date 
The effective date for legislation passed during the 2014 regular session of the General Assembly (other than general appropriations bills or bills with a special effective date) will be Tues, July 15, 2014.
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
Legal Matters
Court finds no duty to disclose competing offer
In Woodson v. DLI Properties, LLC, the Supreme Court of South Carolina affirmed summary judgment in favor of a listing broker ("Broker") who had been sued by Larius and Maurissa Woodson ("Offerors") for failing to reveal to them that there was a competing bid on the property.

In early 2006, DLI Properties, LLC ("Sellers") hired Broker, Allen Tate, in connection with the sale of a parcel of property. On Tuesday, August 1, 2006, Offerors requested that Broker send a draft form "Agreement to Buy and Sell Real Estate" ("Offer"). Read More.
2014 Professional standards scholarship winners announced
KAR is pleased to announce the 2014 recipients of the Professional Standards Training Scholarship. Teresa Barnes, a member of the Shelbyville Board and Greater Louisville Association was selected. Doug Myers, a member of the Greater Louisville Association was selected by GLAR as the large Board representative.

Each winner will receive up to $1,500 as reimbursement for expenses directly related to attending the NAR Professional Standards Seminar August 21 & 22, 2014 in Chicago, IL. The program for the seminar includes training on conduct of hearings, procuring cause, due process and mediation.
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.
KREEF now offering 100% online pre-licensing course       
The 96 hour salesperson pre-license course is now completely online and is approved by the Kentucky Real Estate Commission (KREC). The total cost of the program is $599, which is more affordable than most other providers, and includes all materials needed for the course including the textbook and other resources. Learn more about the program here.
Scholarship applications accepted         
Deadline: Friday, June 13
Scholarships are available to members who want to obtain the GRI designation as well as higher education scholarships to Kentucky residents (members and non-members) who wish to pursue a career in real estate. Read More.
2014 GRI schedule  
Get started with the most popular and well-known designation in the country. Not only will you increase your professionalism but you will create a new network of referral opportunities. This is also the only designation that you don't have to pay or renew to keep on an ongoing basis - it's yours for life. Visit the website to learn more about the benefits, download a schedule or register for a course. Read More

Did you know: Those with a designation earn over $27,600 more annually than non-designees.
Save 25% on the online RSPS Certification (Resort & Second-Homes)      
This course focuses on the knowledge and skill base that real estate professionals need to specialize in buying, selling, or managing second homes in a resort, recreational, and/or vacation destination and properties for investment, development, or retirement. As a bonus, this course counts toward the ABR, CRS and GRI designations. Read More.
Need CORE?   
Take the CORE course online and save. Available anytime, 24/7, this course requirement through KREC also counts as 6 hours of law CE credit. Don't wait until the last minute. 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: 

Realtor-affiliated MLSs must furnish listing data for broker AVMs

Realtor.com to beef up agent search, will revamp profile pages first

Kentucky's unemployment rate drops to 7.7 percent in April 2014

Kentucky jobs still have not returned since recession

What are the biggest challenges to recruiting?

BuyOwner.com CEO hires a Realtor

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.
National Issues
Safety webinar being held   
NAR is hosting a free webinar on Tuesday, June 3 at 3 p.m. EST to cover personal safety at work, home and when traveling. While rare, violence against real estate agents illustrates the dangers that real estate professionals face in showing homes to strangers, holding open houses for sellers, or meeting prospective clients for the first time. The webinar will discuss what an attacker looks for; how agents can minimize their chances of being attacked; why most crime is committed; and common sense personal safety techniques. 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
Affinity Partners
UPS: Save up to 30% when you ship  
Click to get started online
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 can save your clients money
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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Liberty Mutual offering agents referral bonus   
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Lexington, KY 40509
Ron Hughes 2014 KAR President