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Actions from the KAR Summer Business Meeting

The Summer Meetings for KAR kicked off to beautiful weather and attendance of close to 200 members networking around every corner. Highlights included a relaxing ride up (or down) the Ohio River on the Belle of Louisville thanks to GLAR, a night of competitive bowling, an interactive meetup with graduates of LeadershipKAR, a strategic planning session with the BOD and more.

Actions of the BOD and additional information from the meeting are below:

•             Approved renovations and updates to the new KAR headquarters on Old Rosebud Road.

•             Approved Jason Vaughn to instruct the 2017 Professional Standards trainings in Lexington, Louisville and Bowling Green.

•             Approved having UK College of Business submit an RFP to update the study for tax on services including real estate transactions and contacting NAR regarding updated polling on tax reform including tax on services, mortgage interest deductions, etc. This would update the 2011 study that resulted in the Kentucky Homes Matter campaign.

•             Approved sponsorship of the Southern Legislative Conference.

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NAR Call to Action: Tell the Senate to Get to Work for Future Homebuyers

 

The United States Senate is missing an opportunity to improve housing markets across the country, and we need your help to tell them to get to work and make homeownership a priority!  

TAKE ACTION NOW to urge your Senators to pass H.R. 3700, the “Housing Opportunity Through Modernization Act of 2016,” a bill that makes needed reforms to the Federal Housing Administration (FHA) condominium loan program, federal-assisted housing programs and Rural Housing Service loan programs.

Bottom Line:  This bill makes buying a condo A LOT easier by expanding opportunities for first-time homebuyers and streamlining rural housing programs for low-income rental residents. Condominiums are among the most affordable homeownership options for first-time homebuyers, as well as lower income borrowers, but barriers to safe, affordable mortgage credit for condos still exist. H.R. 3700 takes a number of steps to address those concerns.

The House of Representatives passed this bill unanimously with a bipartisan vote of 427-0 and now we need the Senate to act!  

TAKE ACTION NOW! 

Even if your business model is not based on Condominium or Rural Housing Service transactions, all REALTORS need to band together on this Call for Action.  Although it may not affect you directly, the next one could very well be of critical importance to your business.  Please support your REALTOR family by responding to this important Call for Action!

 Tom Salomone, 2016 NAR President

Tom Salomone

2016 NAR President