Chad Kumpe

For the last several days I have been teaching the NAR Quadrennial Ethics Course. It used to be that was the broker's job. Brokers' responsibilities have become greater and more complicated, thus enter the specialist. There also seemed there was a time several years ago when Realtor knew and just did what was right and not what became possible. By doing what was possible we got some of our customers and clients in trouble. Several lost their homes and some are in trouble with their mortgages today. The whole mortgage mess cannot be blamed on the Mortgage Brokers and originators. Realtors have to share a portion of the blame.

Ike passes through Northwest Arkansas this weekend. It sure filled Beaver Lake right up to the top of the dam. the ground was still saturated thanks to Gustaf so the rain water ran off right into the lake. The run off was quick and clear so there was no debris or mud line this time. It is still a great time to be on Beaver Lake, but tall boats can't get under the Hwy. 12 bridge yet.

Chad Kumpe, GRI,ABR,CRS,SRES

Principal Broker Chad Kumpe Real estate

I now have a link on my web site that links to Paul Bynum's Mount Data monthly charts and graphs. This information is broken down by city and would be very helpful at setting proper range of value when helping a seller price their property for sale. For more information you can reach Paul at PaulBynum@MountDate.com

Chad Kumpe, GRI,ABR,CRS,SREA

Principal Broker, AIRE Instructor

I just saw on the CRS blog that New home sales are up but prices are down. Existing sales are up more than expected but about 1/2 of of normal times. (pre-bubble) In our market new home sales are doing quite well with FHA financing and an average sale price of around $85 per Sq. Ft. That is contrasted to $95 to $100 per Sq. ft. in the past. Land cost have come down and builders are working on thinner margins. Existing home sales are moving when the market perceives a bargain and Auctions are working fairly well. Our population and job growth is moving at 1 to 2% where as it was static in previous quarters. Big notice from the last Sunday paper 17 new Realtors have joined the local Board of Realtors. That is nearly double last month.

Chad Kumpe, GRI,CRS,ABR,SRES Principle Broker, AIRE Instructor

This was the week that the Legacy Condo Building was to go on the block. In order to prevent this it looked like Mr. Barber put his company in Chapter 7 Bankruptcy. The bank (Legacy of Springdale) is not going to give up. It seem, from what I read in the paper, that when the company on the note files for relief in Bankruptcy the bank can then go after the people who co-signed. It might be that Mr. Barber out smarted him self in that now the bank can go after the real money behind the whole Barber Enterprises, the daughter of John Ed Chambers of Chambers Bank. The Legacy Bank may even find a trail to Uncle Jerry Jones of Dallas Cawboy fame. It will be interesting to watch.