IAR 2014 Legislative Conference

The SIAR Leadership Team attended perhaps the coldest conference ever, with temperatures dipping to -7 degrees, and -25 degree wind chills.  Schools and businesses were closed, but the legislature was in session and we forged ahead with our agenda. 

At a panel discussion which included state government officials, we learned valuable information regarding the following issues:

Flood Maps are available for review at msc.fema.gov  There is an increase in flood plain insurance premiums, and an elevation study may or may not help avoid paying for flood insurance.  Even if a property is granted a LOMA, letter of map amendment, the lender may still require flood insurance.  It was also noted that many homes flooded are outside the 1% chance annual flood area.  Rates for flood insurance for homes outside the flood plain are very reasonably priced.  It was advised that someone considering getting an elevation study should check the public records to find out if a nearby property has been surveyed. 

IPLA conducted 398 hearings during 2013, and 52 licenses were charged.  87.5% of the complaints were unfounded, which means they were either dismissed or otherwise settled.  Most complaints against licensees involved buyers or sellers not receiving signed copies of documents, earnest money deposit complaints and disclosure forms.  It was strongly advised that if a buyer waives an inspection, the broker should let the buyer know what the inspection entails.

We also heard yet another warning not to procrastinate in obtaining your broker license.  The IPLA indicated a large percentage of licensees have not done so, and it will be illegal to practice real estate without your broker's license after June 30, 2014.

At the legislative briefing and RPAC awards meeting, IAR staff reviewed the top five bills related to real estate being debated during this legislative session.  Additional information on these issues can be found at iga.in.gov or by contacting the IAR's Maggie McShane or Eric Augustus.

HB1280 Land Banks and Tax Sale Issues
HB1224 Title Insurance
HB1141 Methamphetamine Lab Disclosure in Property Sales
HB1403 Regulation of Residential Rental Property
SB176 Central Indiana Transit

Following the legislative session, we headed to the state house to talk to our Senators and Representatives!

Following the State House visit, SIAR's own Kevin Eastridge was installed as President of the Indiana Association of Realtors.  We are well represented in 2014!

100 years strong!

100 years strong!  What began as a meeting of real estate brokers from Evansville, who met at noon every Friday in 1914, has become the Southwest Indiana Association of Realtors.  We are an association of nearly 800 Realtors from 10 counties in Southwest Indiana.  SIAR serves Daviess, Dubois, Gibson, Knox, Martin, Perry, Pike, Posey, Vanderburgh and Warrick Counties.

    

As your president for 2014, one of the first questions I asked was how our leadership could communicate best with our membership.  If you wish to contact me, email GeriTerry@GeriTerry.com.  Answers included a newsletter, Facebook, Twitter, blog and email.   This blog is my best attempt to get information to you in a centralized location, and we may use other ways to direct you here for new information.  If you are reading this and have another idea, please let us know!  Email KenHaynie@fcte.com who is the Membership Committee chairperson, or the SIAR staff person mkaluza@evansvillerealtors.com at the board office.  If you haven’t already done so, join the SIAR Facebook group.  It is a closed group for Realtors only.  In case you can’t find or didn’t get an invitation, email kseibert@evansvillerealtors.com for a link to join.

During the past week, I have spoken with Evansville Courier and Evansville Business journalists, who had questions about our real estate market and issues the SIAR are currently facing.  Each were sent a copy of the 2013 Annual Summary of Residential Sales Data, compiled and provided by Bob Reid from Appraisal Consultants, Inc.  Bob discussed the summary at our last Realtor/Lender/Appraiser/Title committee meeting.  The RLAT meeting is one of the most interesting committees I have ever attended, and encourage you to join in.  Meetings are always held on a Thursday morning at 7:30 am, at the Old National Bank main office in the Blue and Gold room next to the cafe.  Click http://goo.gl/maps/dJ9mk for map.  The next meeting is February 20^th at 7:30.  Grab some coffee on the way in!

Next week the SIAR leadership team will attend the IAR Winter Conference in Indianapolis.  During the conference we will visit the Indiana Statehouse and meet with our state senators and representatives to discuss issues which affect real estate buyers and sellers.  Click the link below to view the schedule for the conference.  http://www.indianarealtors.com/Advocacy/Legislative-Conference.aspx  At this conference, SIAR’s own Kevin Eastridge will be installed as 2014 President of the Indiana Association of Realtors. 

 

SIAR has just approved the formation of our own YPN, NAR’s Young Professional’s Network.  The kick-off meeting was held last month at RiRa’s, was well attended, and it's obvious this is going to be a dynamic new way for our membership to network and learn.  Contact Andrea Murphy to learn more about YPN, email andrea.murphy@era.com

 

Evansville’s WCR wcrevansville.org, Women’s Council of Realtors, hosted a very informative meeting last Thursday.  A panel of lenders updated us about the new rules for the Consumer Finance Protection Bureau.  This information was discussed at the meeting http://files.consumerfinance.gov/f/201309_cfpb_ability-to-repay-rule_what-it-means-for-consumers.pdf  Every member of SIAR could have benefitted from this luncheon, as some of these laws will affect sellers and buyers today.  The WCR is having a membership drive and offering half price dues for 2014.  In addition, if you are new to WCR and wish to attend a luncheon, your lunch will be provided for your first visit.  Email Pam Martin PamMartin@fcte.com to make a reservation for the next meeting on February 13^th at 11:30 at the Evansville Country Club.