Click here for an overview of the app.

Pat is a long-standing supporter of The Children’s SPOT and for the past nine years has helped raise $50,000 to the organization by organizing an annual tennis tournament. In November, she was recognized with the 2012 Community Service Award, a special KCRAR award that recognizes one member of the association who has made significant contributions to an organization or program that improves the livability of our local community.  

 Above: Pat Tholen (far right, front) holds KCRAR’s donation with Jeanette Worthington, the Director for The Children’s SPOT. Also pictured, Cindy Hale from The Children’s SPOT and 2012 KCRAR President Steve Banks. The group had a special recognition meeting at the Hallbrook Country Club in Leawood, Kan.

The festive installation and awards event installed KCRAR’s 2013 President Brenda Oliver and 2013 HMLS President Tameka Bryant, as well as the 2013 KCRAR and HMLS Boards of Directors. The event also recognized the 2012 "Of the Year" Award recipients.

New Boards Announced

At the event, the following incoming 2013 Heartland MLS Board of Directors were recognized:

• Tameka Bryant, President
• Steve Moyer, President Elect
• Beth Franklin, Treasurer
• Bill Baird, Past President

• Shelby Austin
• Brant Elsberry
• Kristi Ferrara
• Dianna Kinnard
• Janice Lindberg
• Jennifer Martin
• Robert Mayo
• Brenda Oliver
• Brett Pickett
• Jody Shewmaker
• Victor Tarango

• Sharon Barry, President appointee
• Jodi Knapp, Rivers Region
• Terri McGowen, Large Firm
• Cynda Rader, Show Me Region/Broker-Owner
• Darrel Stiles, Sunflower Region

2012 "Of the Year" Awards Recipients

One of the highlights of KCRAR's party of the year Nov. 30 was recognizing the "Of the Year" award recipients. Congratulations are given to each of the following recipients of these prestigious awards.

Affiliate of the Year
Larry Davis, Financial Associates

Salesperson of the Year
Kristi Soligo Fleshman, Reece & Nichols Liberty

Sales Manager of the Year
Jeffrey Hill, RE/Max Premier Realty

REALTOR® of the Year
Christian Zarif, Prudential Kansas City Realty

2012 Community Service Award
Pat Tholen, RE/MAX Premier Realty

•  There is a new section on the Input tab for Rentals. There is no expiration date field on input. All entries will automatically expire in 30 days.
• The residential rental search is available directly beneath the Land search options on the Search tab. If you do not see the category, you may need to click on the “Show X more categories” link toward the bottom of the page.
• You will be required to accept the terms of use of the rental database the first time you log into the matrix. This is a one-time click through.
• Offers of compensation are not a part of the rental database.
• Your broker should be consulted before adding rentals into the database.
• Written authorization from the owner should be obtained before entering his or her property into the database.
• If you are representing the owner or prospective tenant, make sure you are in compliance with license law. For example:
  
   
  • Compensation indicates representation.
  • If you are offering property management services, a property management agreement is required.

Finally, keep in mind that according to Article 11 of the Code of Ethics, REALTORS® shall not undertake to provide specialized professional services concerning a type of property or service that is outside their field of competence unless they engage the assistance of one who is competent on such types of property or service, or unless the facts are fully disclosed to the client. Any persons engaged to provide such assistance shall be so identified to the client and their contribution to the assignment should be set forth.

Based on recommendations from Supra, the KCRAR Board of Directors voted unanimously to postpone the iBox conversion in order to ensure an adequate supply of new iBoxes for our members. The conversion was postponed a full year since listing inventory is the lowest in December and that would be the least disruptive time for members.

Remaining battery life of the KCRAR lockboxes currently averages in the 20-25% range and battery power declines approximately 8% a year for most lockboxes, therefore the life expectancy of the lockboxes can easily extend beyond 2013.

What does this mean to you? KCRAR will maintain the existing lockbox program that has been in place since 2003, so essentially there is no change in 2013. As in the past, Supra iBoxes remain the property of KCRAR.

Understanding this need, KCRAR and Heartland MLS remain dedicated to providing services and educational opportunities that empower you as you navigate today’s technology-based real estate industry. In the coming months, you'll be introduced to a number of exciting new tools from KCRAR and Heartland MLS, including the launch of the Heartland MLS app.

Sneak Peek: The Heartland MLS app.

In about 60 days, the way Heartland MLS subscribers access MLS data while on the go will be revolutionized. Here is your first look at the soon-to-be launched "Heartland MLS app."

The Heartland MLS app will be available on the iPhone, iPad, Android (smartphones & tablets), as well as on Blackberry. Using your MLS credentials, you will be able to log in and access MLS data integrated with location-based mapping. You will be able to access information to the home you are currently showing just by opening the app, as well as seeing the active, sold, expired, canceled, pending and contingent activity in the area surrounding the subject home. You'll also be able to see that same type of activity for anywhere on the map, just by zooming in and out, or scrolling across the map with your finger. The Heartland MLS app will feature auto refresh map results, so as the map moves, the homes will update in the new area on the map. Tapping the icon of any of those homes on the map will pop up key relevant details of the home right on the map (such as price, address, bedrooms, bathrooms). There is also a "more detail" link, so the detailed information can also be accessed easily from within the app.

The Heartland MLS app will also be deeply integrated with the desktop version of the Heartland MLS. You will be able to click on "My MLS" to access your contacts and the searches you have saved for those clients, as well as the homes in your cart or your saved searches. All of these features will show that particular list of homes on the map and give you the ability to access the detailed information about those homes, as well as see the recent activity in that surrounding area.

You will be able to see all pictures of the homes and the listing information from the MLS, including the listing agent, their contact information, the showing agent information and the commission information. The Heartland MLS app will give you the ability to schedule showings from the app, get directions and email basic listing information to your clients.

Another feature of the Heartland MLS app is the integration of augmented reality. What is "augmented reality"? Augmented reality is a view of the real-world environment whose elements are augmented by computer-generated graphics. The Heartland MLS app will use augmented reality coupled with your smartphone or tablet’s GPS and compass to overlay property information on your device’s live camera feed. As you point your smartphone or tablet down the street, you will see a view of the street and homes for sale will pop up as you scroll your surroundings. There’s even a radar display that shows the direction and proximity of the nearby properties for sale as you scan your surroundings.

The Heartland MLS app will be a free benefit to Heartland MLS subscribers. In addition to the Heartland MLS app, there will also be an agent branded version of this app available for KCRAR members to purchase individually. The agent branded version of this app will follow IDX rules (no solds, etc). The app will be a great option for agents & brokers who want to give their clients an IDX solution in the form of an app, branded exclusively to that agent & broker.

KCRAR and Heartland MLS will be providing additional information on the new Heartland MLS App in the coming weeks. Connect on Facebook to stay up to date on the most recent news – Facebook.com/KCRAR and Facebook.com/HeartlandMLS.

Supra has said that it will obtain an iPhone 5 and Lightning adapter from Apple as quickly as possible, but to be advised that until they have tested our application and eKEY adapter with Apple’s products, they cannot confirm that they will operate correctly. Supra customers who wish to run the eKEY application on an iPhone 5 may want to consider delaying their purchase of the iPhone 5 until Supra’s testing is complete.

Supra plans to support the iPhone 5 and will confirm compatibility as soon as they obtain technical information from Apple and will make engineering changes to their products if required. Supra is also exploring a fob/adapter design that may not require Apple’s Lightning adapter, and will provide more information on that as it becomes available.

The interlocking of the two rooflines represents the partnership not only between KCRAR and HMLS, but also the partnership between both organizations and our members – you! The blue/green color combo is the result of consumer research identifying the two colors as being most linked to real estate. The theory behind this is that blues and greens are the natural backdrops to most properties, representing sky and grass.

One of the first steps in the launch of our new branding is a refreshed design and new name for the Realeyes monthly newsletter – which will now be known as Connect. Over the next several months, we’ll continue rolling out the new branding in a variety of other ways, including the much anticipated redesign of KCRAR.com coming later this year.

We hope you like our new look! If you have any comments or questions, please contact Kyla Barcus at kylab@kcrar.com.

By KEVIN COLLISON
The Kansas City Star
5/23/12

The Kansas City housing market continued to improve in April, with sales of new and existing homes up a combined 11 percent from a year ago and the average sales price for existing homes up 9 percent to $149,610.

The Kansas City Regional Association of Realtors reported 2,104 existing homes were sold last month in the metropolitan area, up 10 percent from the same month last year, and 168 new homes were sold, up 17 percent.

Read more here. 

Neighborhoods and residents are welcome to participate by canvassing their areas and removing illegal signs in the public right-of-way or on utility poles, such as old yard sale, garage sale, promotional and political signs. Residents unaware of the location of right-of-way boundaries are advised to not remove signs.

While signs in Kansas City's right-of way have always been illegal, up until this point there has been no tool to enforce this. A proposed ordinance will add a minimum $20 fine for each illegal sign that will be imposed on the party that owns the sign. This will give the city the tool to enforce this existing law and help improve the appearance of our neighborhoods.

In working with city staff and elected officials, KCRAR has been assured that real estate signs are not the target of this “sign sweep” or the proposed enforcement ordinance. However, this is a good opportunity for members to confirm that their signs are in compliance and not located in the public right-of-way.

Questions? Contact Missouri Government Affairs Director Derek Ramsay at derekr@kcrar.com. 

The next generation lockbox incorporates all of the great existing lockbox features, plus the added benefit of Bluetooth technology. For those KCRAR members with eKeys (phones that function as a Supra key), you’ll be pleased to know the next generation lockbox eliminates the need to carry a key FOB – with the exception of the iPhone, which will still require an adapter. Any Supra-approved eKey device, with either the existing infrared technology or Bluetooth, will be able to open the next generation Supra lockboxes. And for those members who prefer to subscribe to the Display Key (dKey), those keys will continue to function with the new lockboxes.

KCRAR has identified December 2012 as the time when next generation lockboxes will be available to KCRAR members. More details will be made available in the coming months, so please watch for more information on www.kcrar.com and in KCRAR publications.

And builders are hoping this year's Parade of Homes will keep that momentum going.

During the two-week homes tour, 246 houses will be on display metro-wide.

While sales in new houses are up from last year, the latest numbers show a decrease in signed contracts in August compared to the previous month.

The tour hopes to attract buyers at a time when the economy is slowing down.

Experts said buyers can find some of the best prices in new homes.

"Prices in Kansas City remain stable. We are usually one of the top 10 markets as far as price value ratio to what you get. There is a lot of creative builders in this town that deliver really a wonderful product," said Mark Mather with Richard Mather Builders.

Click here for a guide to all the houses listed in this year's Parade of Homes which runs through Oct. 16.

Top Markets for Real Estate Agents

10 metros with promising indicators for higher income

By Andrea V. Brambila

No matter the state of the housing market, there are real estate professionals doing business. Despite gloomy housing and economic news at the national level, real estate agents and brokers in some markets are seeing a high dollar volume in home sales due to rising prices and relatively vibrant local economies.

Inman News examined total sales, median sales price, real estate licensee data and Realtor membership counts in dozens of metro areas across the country to develop a list of 10 metros where real estate professionals are doing comparatively well in terms of sales and average total dollar volume in sales per Realtor.

Click here to read the entire story from Inman News.

REALTORS® should be aware of major changes in the reporting and delivery requirements for every mortgage lending appraisal beginning Sept. 1.

Fannie Mae and Freddie Mac (the GSEs) have developed the Uniform Appraisal Dataset (UAD) to ensure that reporting by appraisers becomes more consistent. The UAD affects conventional, FHA and VA appraisals and requires every appraiser to make significant changes to their daily practice. These changes affect the appraiser’s inspection, research, analysis and reporting processes – and range from intellectual to technical in scope.

The GSEs have worked with all appraisal software companies for many months to allow time for the necessary programming changes. These software companies have been working feverishly to meet the Sept. 1 deadline and to train their users nationwide. These programming changes will allow the GSEs to leverage information in appraisals, for a variety of purposes we can only imagine at this point. As a practicing appraiser, I see many positive outcomes from UAD, while maintaining a degree of caution for where this is heading.

To make matters more challenging, all appraisals written to the UAD standard must now be delivered to lenders in XML format. Without getting technical, appraisers must also adapt to new report delivery processes, which may vary from client to client. In most cases, appraisers will deliver their appraisals using two formats – XML and PDF.

So how does this become a bottleneck that will slow loan closing cycles this fall? While most appraisers are now well aware of the UAD, and well prepared to meet this new standard, unquestionably some are not. And just as appraisers vary in their readiness, many lenders have not prepared for the strain UAD will place on underwriting.

An appraisal written to the UAD standard looks very different than a traditional appraisal. Underwriters must master a complex set of new ratings for quality and condition, and learn to interpret computer-friendly characters placed where narrative descriptions were previously allowed (ex.: ‘1rr0br0.0ba0o’ is included to report basement finish as follows - 1 rec room, 0 bedrooms, 0 bathrooms, and 0 other rooms). All of this to say the property had a rec room. The GSEs have done a masterful job of managing this industry-changing project; however, it may be that only the computers will understand how to read appraisals for the foreseeable future.

REALTORS® should welcome calls from appraisers trying to ascertain the year of updating for kitchens and bathrooms, as well as more specific detail on basement finish. They will need this information to complete appraisals under the UAD, so please return those calls as you may be the only source for this information in some cases. These changes will cause stress and subsequently overreaction; however, we will get through this together.

Mark has been an active real estate appraiser and broker for over 15 years. The SRA appraisal designation is achieved by fewer than 1% of all appraisers nationwide. Mark delivers from a wide range of experience, including appraisal practice, forensic review, appraisal management and compliance consulting.

After little new development the last few years, investors are flocking to buy well-leased office buildings in big markets such as New York and Washington, D.C.

For example, in New York alone, “we're seeing prices (for prized buildings) return to 2007 levels" after falling 40 percent in the commercial market downturn, Richard Baxter, vice chairman of real estate giant Jones Lang LaSalle, told USA Today.

The rise in commercial investments is expected to spread to cities such as Dallas, Denver, and Houston, says CoStar real estate strategist Chris Macke.

Meanwhile, mortgage defaults for office, retail, and industrial building loans are decreasing for the first time since 2005 in the fourth quarter. Real Capital Analytics economist Sam Chandan expects they will fall even further, adding that the "worst-case scenarios have been avoided."

The commercial market’s stabilized building occupancy has allowed more landlords the opportunity to pay down loans, Chandan says.

See the entire story from source USA Today>> 

"Fannie Mae wants to help more buyers afford to purchase their new home. That is why we are offering up to 3.5% in closing cost assistance for HomePath properties," the GSE said on Twitter.

Read the entire story from National Mortgage News >>

The legislation, the “Prompt Decision for Qualification for Short Sale Act of 2011,” was offered in Congress by U.S. Reps. Tom Rooney (R-Fla.) and Robert Andrews (D-N.J.). “The current short sale process can be time-consuming and inefficient, and many would-be buyers end up walking away from a sale that could have saved a home owner from foreclosure,” said NAR President Ron Phipps.

Read the entire story from REALTOR Magazine Online Daily >>

The problems were “significant and pervasive” and added up to “a pattern of misconduct and negligence,” according to the Federal Reserve. The Fed says it soon plans to announce monetary penalties against mortgage servicers.

The CoreLogic home price index showed U.S. home prices down 6.7 percent from a year ago during February, a sharper decline than the 5.5 percent year-over-year drop registered in January.

Excluding distressed sales, the index was essentially flat, declining by 0.1 percent from a year ago compared to 1.4 percent in January. Distressed sales include short sales and real-estate owned, or "REO," properties.

Fannie and Freddie, along with other federal agencies, have backed about 9 in 10 new mortgages over the past year. The federal takeover of the GSEs in 2008 following the housing market collapse has cost taxpayers $150 billion, which has prompted many in Congress and even the White House to call for the GSEs to be phased out gradually over a five-year timeline.

The proposal--called the “Draft Alternative Uniform Servicing Standards”--includes timelines for processing loan modifications, third-party review of foreclosures, and a single point of contact for borrowers who are struggling with their mortgages, The Wall Street Journal reports. The draft document also includes a “borrower portal,” which would allow customers to check the status of their loan modifications online.

See the source story from the Wall Street Journal >>

The three-page Good Faith Estimate forms provide buyers and home owners who are getting a mortgage a line-by-line disclosure of what their borrowing costs will be with the mortgage. As of Jan. 1, 2010, lenders now must provide the disclosure form to borrowers within three days of receiving a loan application.

The forms were revamped over a year ago but the lack of clarity that still exists on the form can lead to delayed closings or even the loss of a locked-in interest rate, says Melissa Key, a spokeswoman for the Mortgage Bankers Association.

The new Good Faith Estimate form “is better than it used to be, but it’s not up to snuff,” Kathleen Day, a spokeswoman for the Center for Responsible Lending, told The New York Times. “There are things that need to be unbundled and made clearer.”

For example, the form fails to break out seller paid costs, such as transfer taxes. These costs, instead, are grouped into the “total estimated settlement charges” figure that falls at the bottom of the form. As such, borrowers at times are unknowingly looking at a larger amount than they’ll have to pay.

The form also doesn’t account for down payments in the “total estimated settlement charges” column, leading borrowers to look at a smaller final number than they’ll need to actually pay, experts say.

Some changes may be on the horizon to the forms, though. The new Consumer Financial Protections Bureau has said it will consider revising the good faith estimate forms to make all costs more transparent to the borrower.

See the source story for this posting from the New York Times >>

Experts say the classification will likely have broad sweeping effects on the mortgage market..

The Dodd-Frank financial overhaul law, which was passed last summer, contains a risk-retention requirement that requires issuers of securities backed by mortgages and other assets to maintain 5 percent of the risk of a loan, if it is packaged into a security and sold to investors, Dow Jones reports. The idea is that lenders would be more careful with making loans since they would face steeper losses if a loan went bad.What Is a 'Safe' Mortgage?
Later this month, the Federal Deposit Insurance Corp. will consider new rules that define what a safe or “qualified” residential mortgage is as part of the Dodd-Frank financial overhaul law.

Go here for the entire story from REALTOR® Magazine Online Daily >>

Today, I don't need a laptop computer -- an iPad, netbook or smart phone is less expensive and lighter and will do the job.

I don't need to spend much on software because most of it is free and what is now free is better than what I used to pay a small fortune for.

Here are some great free programs and services that I use every day, and most of them have been around for years and have a large user base.

Read the entire story from Inman News >>

HARP, which was scheduled to expire June 30, will stay open for business for another year, and Freddie Mac will exempt the refinancings from recently announced price increases, the Federal Housing Finance Agency said in announcing the one-year extension.

Read the entire article from Inman News Headlines >>

Many of the banks' measures go beyond protections already provided to military borrowers in the Servicemembers Civil Relief Act. The SCRA forbids foreclosures on active-duty military and caps interest rates at 6 percent.

See the entire story from REALTOR Magazine Online Daily and source Dow Jones Business News.

See the entire story from RealTrends >>