Local Housing Markets Continue to Stabilize
With more than 800 additional homes sold statewide in April than in March, local housing markets continue to stabilize and are following seasonal trends. Supply is still tight, though improving. What housing really needs is further job creation and wage growth, and for there to be no major changes in mortgage rules and regulations. Provided the economy and the lending environment continue on their current paths, members tell us they expect housing news to be about the same for the next few months. The definite bright spot is that home values are increasing, which is good for property owners and their surrounding communities alike, and interest rates remain attractive. See the full Indiana Real Estate Markets Report released this past Tuesday at IndianaRealtors.com > Resources > Real Estate Markets Report.
If you see March data when following the county links, simply refresh the page(s) for an update.
Focus on Legal Affairs
Monthly Legal Hotline Q&As: New Dos and Don’ts List
Legal Hotline inquiries differ in specific facts, but there is a common question among them: should the broker have handled the situation another way? From these conversations, Senior Staff Counsel Kelly Shonborn created a list of dos and don’ts to help members achieve a successful transaction while protecting themselves from liability.
As a reminder, the Legal Hotline is available to Principal and Managing Broker members and their designated agents. There are three ways to reach IAR attorneys -
2013 Professional Standards Statistics
Each year, IAR attorneys compile statistics on how many ethics hearings, arbitrations, and mediations occurred throughout the state to help determine which Article(s) of the Code of Ethics and Standards of Practice require the most attention for risk reduction and education purposes. Richelle Cohen Mossler, IAR General Counsel, reports on the 2013 statistics here to highlight for members the areas they should be paying most attention to prevent complaints from being filed in the first place.
Focus on Education
Crunch Time for Salespersons—Just 6 Weeks to Transition License
There are 5400 real estate Salespersons who still need to upgrade their license to Broker status before June 30, 2014. With just 6 weeks until the deadline, the state is already experiencing a backlog in processing Broker license applications. And, many education providers are reporting the required 24 hour Broker Transition courses to be filling up to capacity. Salespersons are encouraged to act now or risk an expired/non-renewable license on July 1. Still have questions about the transition? Complete our checklist.
No time for the classroom? Try RECP’s OnDemand online course. You can sign up for RECP’s live courses via that link, as well, which are planned for locations all around Indiana.
Serve on Indiana’s GRI Advisory Council
Indiana’s Graduate, REALTOR® Institute Advisory Council is preparing to elect new members to serve on the board for a three-year term. The requirements are as follows:
1.) Hold REALTOR® or REALTOR® Associate membership in Indiana; and
2.) Hold a GRI designation.
Current available positions are for Region 5, Region 6 and Under 40 Years of Age.
The application can be found at www.IndianaGRI.info. Application deadline is August 8, 2014.
Congratulations GRI Graduates
Congratulations to the following recent graduates of Indiana’s Graduate, REALTOR® Institute (GRI) program. These REALTORS® completed 90 hours of in depth-training to earn the most recognized and respected professional designation available to real estate professionals nationwide. Click here for more information on Indiana’s GRI program or to apply as a candidate.
Ella Crite, F.C. Tucker Realty Center, Marion
Dee Young, NEW DAY Realty, Indianapolis
Andrew Treesh, Orizon Real Estate, Kendallville
Jim Meeks, Coldwell Banker Residential Brokerage, Valparaiso
Robert Lundquist, Lundquist Real Estate Services, Wabash
Kristi Lundquist, Lundquist Real Estate Services, Wabash
Eric Lopez, McColly Real Estate, Highland