Upcoming Events/Classes

Click the above graphic to sign up for classes on the RECP site or call RECP at 800-742-4067 to reserve your spot

2017 RACI Board of Directors

Cherie Smith (President), Janet Barnett (Past-President), Stacia Bonifant, Stacey Cannon (Treasurer), Melanie Davis, Toni Gebhardt, Charise Goodnight (Vice President), Andy Hardie, Tom Hayes, Cindy Heinzman, Sami Holmgren, Christy Kisner, Bob Lundquist, Suzie Mack, Chuck Oldfather, Dee Dee Richards (President-Elect), PJ Ryan, Mike Trueblood



 

News

Appraiser Square Footage Field Added to MLS
IRMLS recently approved a new field that was added to the MLS. The field "Appraiser Square Footage" will display the above grade finished square footage calculation submitted by appraisers after a property is Sold.  This field is optional for appraisers who want to submit their measurement. This field will display in addition to the square footage information added by the listing agent.  The Appraiser Square Footage field is searchable.
 
Once reported, MLS staff will enter the information into the MLS system where it will be available for use by appraisers and members.  The information submitted by appraisers will not be available for display outside of the MLS.  It is important to remember this information will NOT replace any data entered by the listing agent.  
 
Appraisers may use the online submission form available on the RACI Bulletin Board within the MLS to submit the information.  If preferred an email may also be sent to stefani@raci.org  When emailing, please include: MLS#, date, address, above grade finished square footage, appraiser name and email. 
Online Submission Form

Reducing the Risk of Real Estate Wire Fraud - Clareity Security

Ongoing bad publicity related to real estate transaction wire fraud threatens to damage the reputation of the real estate industry. Previous issue descriptions have been incomplete and have also not provided thorough guidance for those brokerages, title companies, attorneys, and others that engage internally in the wiring of funds or interact with the consumer regarding wire transfers.This paper provides information relevant not just for those directly establishing and communicating wiring instructions, but also for those just acting in an advisory role to the consumer during the transaction.

The paper includes best practices – sample procedures and communications gathered from franchises, brokers, title companies and others. It also includes a sample company policy Clareity Consulting has created based on both these best practices and on our experience advising brokerages and other companies regarding information security. Not all aspects of this paper will apply to all companies involved in the transaction, and what is relevant will still need to be tailored to an individual company’s business processes. Still, it provides a valuable starting place toward reducing the risk of wire fraud.

Click here for Reducing the Risk of Real Estate Wire Fraud

IRMLS DEFINITION MOBILE, MANUFACTURED AND MODULAR HOMES amended 7/21/15
These terms are frequently misunderstood. The following definitions are intended to help users understand the differences in the terms. Mobile/Manufactured Homes do not qualify for inclusion in the MLS because they are taxed as personal property by the State of Indiana. The MLS is for the sale/lease of real property only. The Mobile/Manufactured home can be included in the MLS if the land the mobile/Manufactured sits on is for sale.  read more...

SentriLock Now Integrated with IRMLS
You may now access SentriLock information within IRMLS.  Please access the SentriLock Integration document for more information on the functions and features available through the integration.

CFPB Issues Mortgage Toolkit

As part of their obligations under the Real Estate Settlement Procedures Act (RESPA) and the Dodd-Frank Wall Street Reform and Consumer Protection Act the Consumer Financial Protection Bureau issued an updated "Special Information Booklet" which is now known as the "Your Home Loan Toolkit."  The toolkit attempts to modernize and simplify the information presented to consumers and is designed to work better with the new forms and processes under RESPA/TILA harmonization that go into effect on August 1, 2015.
Your Home Loan Toolkit
Loan Estimate Example
Closing Disclosure Example
CFPB PowerPoint

Balance Needed between Regulation and Opportunity in Housing Market, Say Economists, Policy Experts
The nation’s leading housing economists spoke today at an economic and policy forum to appraise the state of the U.S. housing market.  Read more...

Fannie Mae Announces Assistance Program
On April 14, 2015, Fannie Mae announced a new program that offers 3% in closing costs assistance for first time homebuyers that purchase Fannie Mae REO properties.  To qualify, borrowers must complete Fannie Mae's online homebuyer education program, must be owner occupants, and have not owned a home in the past three years.

Agents must request the funds in the purchase contract, and once the purchase is complete, Fannie will also reimburse the $75 charged to take the course. Agents can find more information and contract language on Fannie Mae's HomePath website.
HomePath Website

Market Statistics

IAR has released the

February Market Reports and Statistics








View Previous Reports

Member Benefits

Designed with you in mind, the REALTOR Benefits® Program is your official member benefits resource, bringing you discounts and unique offers on products and services just for REALTORS®.


SentriSmart App
Manage your lockboxes with your mobile device.
  • Open lockboxes with your smartphone or tablet 
  • No need to update keycard every 3 days for showings
  • Automatic listing Assignments if the box hasn't been assigned to a property
  • Instant showing notifications 

 

New Member Benefit

Everything you want to know about a property is here in one place, along with some easy to generate, attractive and comprehensive reports for buyers and sellers.

The RPR training webinar has been recorded and may be accessed here.

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REALTORS® Association of Central Indiana ©2017