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REALTORS® of South Central Kansas News

Local and Regional News

Monday, January 25 2016 5:44 AM
Categorized In REALTORS®
  • Wichita area gains 3,200 jobs in 2015 as construction hiring surges…Metro unemployment rate was 4.0 percent in December. The Wichita metro area unemployment rate was 4.0 percent in December, up slightly from the 3.9 percent rate in November, but down from 4.4 percent in December 2014, according to the Kansas Department of Labor.  Read More

  • Wichita trade officials to write plan to attract foreign investment…The south-central Kansas regional metro area has been chosen to write a plan to attract and use foreign direct investment, according to Kansas Global Trade Services, a trade facilitation group based in Wichita. Read More

Proposed changes to the FEMA Floodplain Maps (Updated)

Sunday, January 24 2016 12:13 PM
Categorized In REALTORS®

How To Use the Floodplain Map…For additional information, follow these step by step instructions to find out what the preliminary maps say about your property. If you have questions, you may contact the Stormwater Management Office at 268-4498 or by email at rbatchman@wichita.gov and we will be happy to assist you.
Click Here to FInd Out More 

Check out how the proposed changes to the FEMA Floodplain maps may affect you. If you have specific questions, you may contact Kelly Dixon at 316.660.1840. 

See Proposed Map

Additional information from the National scene can be found here

National Association of REALTORS® News

Sunday, January 24 2016 7:03 AM
Categorized In REALTORS®
  • 2016 NAR Membership Cards Available…Showcase your REALTOR® pride with your NAR membership card by downloading a free PDF or ordering a plastic card for $5. It can be customized with your name, designations, and NRDS ID number. With the card, you can take advantage of member benefits, like those offered through Hertz and .REALTOR, the official 2016 membership card sponsors.

  • Legal Pulse for Third Quarter…NAR’s Legal Pulse for the third quarter of 2015 examines the most recent cases on Agency, Property Condition Disclosures, and RESPA. The newsletter also present updates on Antitrust, Technology and Third Party Liability activity over the last twelve months Newsletter. Highlights video

  • Crowdfunding Expansion Could Help Real Estate…In case you missed it:  Crowdfunding is a top story in the latest Voice for Real Estate news video. A way to raise money directly from small investors, crowdfunding is set to expand in 2016 because of rules from the U.S. Securities and Exchange Commission taking effect later this month. Members stand to benefit from the changes by working with clients who use crowdfunding to grow their real estate assets or by using it themselves to build their brokerage. Other stories look at delays from the new closing rules, tax changes that will spur foreign real estate buyers, and the drone registration requirement.

2016 NAR Forecast: Modest Increase in Home Sales Expected

Tuesday, January 19 2016 6:17 AM
Categorized In REALTORS®

In this video, NAR Chief Economist Lawrence Yun gives his economic forecast for 2016.

More Information

National Association of REALTORS® News

Sunday, January 17 2016 6:08 AM
Categorized In REALTORS®
  • CFPB Reiterates it will Focus on Good Faith Efforts for TRID Process…On December 29, 2015, Richard Cordray, Director of the Consumer Financial Protection Bureau (CFPB), sent a letter to the Mortgage Bankers Association to reiterate that CFPB examiners will focus on good faith efforts with the new “TRID” or “Know Before You Owe” process.  Loans with minor technical errors should not hold up the mortgage process.  The CFPB notes that existing law allows lenders the right to cure mistakes after settlement.  It also states that secondary market participants that buy loans from originating lenders will not take on additional liability.  Fannie Mae, Freddie Mac, and FHA, which make up a large percentage of the market, have all acknowledged that they will not hold originators responsible for minor errors under TRID, for the time being, in order to ensure a smooth implementation. 

  • NAR Introduces New Report: Housing Opportunities and Market Experience Survey…The new Housing Opportunities and Market Experience (HOME) report was created to monitor consumer sentiment about the housing market. This new quarterly report covers core topics that will be tracked on a monthly basis such as views on housing as a good financial investment, whether homeownership is part of the American Dream, if now is a good time to buy or sell a home and perception of home price changes. Additionally, current topical trends are covered in the HOME survey. Renters are asked about their experience in the mortgage market and difficulties obtaining a home loan and when they will be ready to purchase a home. Each quarter new questions will be added to the survey that reflect timely topics in an ever changing residential real estate marketplace. Lastly, on a monthly basis renters and homeowners are asked about their personal financial outlook which is indexed on a scale of 0 to 100. Data will be reported not only on ownership status, but by age, income, and type of geographic location.

    Read more

  • NAR & Treasury Meet About Anti-Money Laundering Efforts…In an effort to combat money laundering in the real estate sector, the Financial Crimes Enforcement Network (FinCEN) at the Treasury Department issued a Geographic Targeting Order (GTO) that will temporarily require certain U.S. title insurance companies to identify the natural persons behind companies used to pay “all cash” for high-end residential real estate in Manhattan and Miami-Dade County.  On February 3, NAR General Counsel Katie Johnson will meet with representatives of the Treasury Department and the Financial Action Task Force (FATF), an international body established by treaty to assess member states efforts to combat money laundering and terrorist financing.  NAR has argued, and Treasury agrees, that real estate agents and brokers are not in a position to detect money laundering since the funds involved in real estate transactions are handled through regulated financial institutions.  NAR has worked closely with FINCEN and Treasury to develop voluntary guidelines for real estate professionals to identify signs of money laundering.  NAR has promoted this information among its members through numerous website links, workshops at national meetings and various publications.

Local and Regional News

Saturday, January 9 2016 7:04 AM
Categorized In REALTORS®
  • Jet AirWerks in Ark City certified for work on aircraft for China…Keith Humphrey, president and CEO of Jet AirWerks LLC in Arkansas City, has been expecting something big on the horizon. Now, the horizon is here.  Read Business Journal Article Here
  • WBJ's emerging leaders pleased with entrepreneurship promotion…Members of the Wichita Business Journal’s Emerging Leaders program say they are encouraged by the steps a local task force is taking to foster entrepreneurship. They say they hope a new entrepreneur-to-entrepreneur program will encourage more people to start and grow businesses and eliminate some of the barriers entrepreneurs often encounter.  Read Business Journal article here

National Association of REALTORS® News

Saturday, January 9 2016 6:55 AM
Categorized In REALTORS®
  • NAR Issue Brief: Omnibus Appropriations Bill Real Estate Provisions...Congress has passed and the President has signed into law, sweeping legislation of more than two-thousand pages to fund the Federal Government for Fiscal Year 2016.  Read More

  • FHFA Releases Goals for Fannie, Freddie…The Federal Housing Finance Agency spelled out its 2016 priorities for Fannie Mae and Freddie Mac in a document released in December. The agency’s goals for the government-sponsored enterprises include maintaining credit availability and foreclosure-prevention activities, increasing the role of private capital in the mortgage market, and developing a new single-family securitization infrastructure. Details.

  • Drone Update: Hobbyist Registration…NAR Government Affairs provides an update on the registration requirement for hobbyist drones in a 7-minute video update. The video also looks at the commercial drone waiver process and the upcoming rule by the Federal Aviation Administration, which is expected to increase use of the devices for real estate and other business purposes. Watch Video