2201 Country Drive
hometown
LAWRENCE Your area real estate
.com
JUST LISTED!!! Awesome 2 story home w/3 car side entry garage on quiet cul-de-sac in Alvamar area! Gorgeous kitchen granite countertops, built-in oven, gas cooktop,with breakfast bar/island, microwave, kitchen frig & wine frig. Master suite has sitting area. 3 other bedrooms upstairs plus laundry room. Basement features 5th non-conform ing bedroom, media room, rec room & wet bar. Priced $20,000 below county appraisal!!! Give us a call and we will be happy to give you a tour! MLS #135429
SEE INSIDE FOR GREAT REAL ESTATE BUYS!
B
$300,000
resource
hometownlawrence
4708 Cherry Hills Court
Awesome 4 bedroom/3 bath/3 car side entry Fritzel-built premier subdivision - Meadowlark! Kitchen features ranch home in Eudora’s lots of counter-top space. Hearth room off kitchen custom cabinets, center island, Awesome Master Suite with double sinks, jetted with eat-in area. Formal dining. tub, large shower and walk-in closet. 2 bedrooms and a full bath in the basement PLUS 32x16 bonus room which could be 4th bedroom, theater room or an additional family area. You choose! Sprinkler and security systems too! Stop by and check it out. MLS #134703
8IZ EPFT -BXSFODF USVTU 4UFQIFO
hometownlawrence.com
Advertising supplement
Down payment require ments reduced for some home buye rs DECEMBER 12, 2014
ZFBST PG FYQFSJFODF ,OPXMFEHFBCMF "HFOUT 4VQQPSU 5 FBN $POUJOVFT UP SFBDI UIF MBSHFTU NBSLF BWBJMBCMF UISV QSJOU SBEJP UW POMJO U TIBSF F BEWFSUJ
L A W R E NC E
JOSH
Great Recession. That has BOAK held THE ASSOCIATED PRESS down the sales of houses and director of the Federal Housing to purchase a median-p Finance Agency, said riced down payment and in a home of $208,300, WASHIN GTON — Some condominiums and slowed the statement. The FHFA according that buyers receive mandate T h e t w o c o m p a n i e s oversees economic recovery. Americans will soon be Fannie and Freddie, which to the National Associati on financial counselin complete a don’t directly make loans able g program. to borrowe of Realtors. Just 29 percent to buy a home with a down The guidelines are designed have been under governme rs. They buy of payment as low as 3 percent, to prevent the kind of reckless control since 2008 because nt home purchase s in October Freddie intends to begin mor tgages from lenders, of went to first-time compare d with the current lending that fueled a housing the housing bust. buyers, offering its mortgages as early package them as securities , compare d with a historic as March 2015, saying it would guarantee them bubble and eventually triggered minimum of 5 percent, against default Watt had announc ed the the recession in average of 40 percent, the be an option for low- and and sell them to investors. That mortgage giants Fannie Mae have enough . Borrowers must October that Fannie and Freddie Realtors reported. moderate -income borrower helps make loans available. and Freddie Mac say. income to repay had reached It requires that borrowers s. an agreement with loans on earn T h e g o The new lending guideline homes a monthly basis for major banks to expand lending. The new loans would be less than an area’s ve r n m e n t t o o k that would be their The fixed-rate mortgages of up s median over announced by the companie main residence Fannie FHFA declined to income, in addition to s paying in Septemb and Freddie . This guideline many borrowers to say how 30 years for primary residences, this week are designed to insuranc e er 2008, after might benefit though some help would be intended policies vary counseling. and receivin g a m a r k e t m more low-income and first-time financial speculatio to limit from having a 3 percent down eltdown Monthly payments between the companies. n. payment. compounded the lo buyers afford homes. Millions could not exceed 43 percent sses of caused Fannie of Americans lost their savings “ T h e s e u n d e r w r i t i n g The standard the borrower’s income. by risky mortgage s down payment underwriting c o u l d b e g i n and threatene or no longer had the income g u i d e l i n e s p r o v i d e a for mortgage the d to shut down loans before Fannie s insured through the end responsi ble approac h of the year. It said guaranteeand Freddie own or the entire housing sector. needed to set aside money to Fannie and Freddie for improvin g access about half of all U.S. Combined has the loans would to a home in the aftermath of the while ensuring safe and credit been 20 percent. That would toward first-tim be geared mortgage s, worth about $5 taxpayer , the firms received 2008 financial crisis and the lending practices,� Mel sound mean that a first-time buyer require mortgage e buyers, trillion. Along with other federal billion, aid totaling $187 which has since been Watt, would need $41,600 in cash payments because insuranc e agencies, they back roughly 90 repaid as they have returned of the low percent of new mortgages. to profitability.
Offered by: Drew Deck 785.424.0695
TJOH
/P BEEJUJPOBM GFFT UP ZPV
Journal-World
��� � (/- % � ��
Offered by: Mary Ann Deck 785.760.1205
OPEN SUNDAY 2:00 - 4:00 PM
75 cents
maryanndeck@ReeceNichols.com
OPEN SUNDAY 2:00 - 4:00 PM
LJWorld.com
FRIDAY • DECEMBER 12 • 2014
Shopping for joy 2201 Country Drive
Awesome 4 bedroom/3 bath/3 premier subdivision - Meadowlcar side entry Fritzel-built ranch home in Eudora’s ark! Kitchen features custom cabinets, lots of counter-top space. Hearth room off kitchen with eat-in area. center island, Awesome Master Suite with double Formal dining. closet. 2 bedrooms and a full bath sinks, jetted tub, large shower and walk-in could be 4th bedroom, theater in the basement PLUS 32x16 bonus room which Sprinkler and security systems room or an additional family area. You choose! too! Stop by and check it out. MLS #134703
$300,000
City manager apologizes for disputed payment
4708 Cherry Hills Court
JUST LISTED!!! Awesome cul-de-sac in Alvamar area! 2 story home w/3 car side entry garage on quiet granite countertops, built-in Gorgeous kitchen with breakfast bar/island, wine frig. Master suite has oven, gas cooktop, microwave, kitchen frig & sitting area. 3 other bedroom laundry room. Basement features s upstairs plus 5th non-conforming room, rec room & wet bar. Priced $20,000 below countybedroom, media a call and we will be happy to appraisal!!! Give us give you a tour! MLS #135429
8IZ EPFT -BXSFODF USVT ZFBST PG FYQFSJFODF
$520,000
U 4UFQIFOT 3FBM &TUBUF
,OPXMFEHFBCMF "HFOUT
4VQQPSU 5FBN $POUJOVFT UP SFBDI UIF MB BWBJMBCMF UISV QSJOU SBEJPSHFTU NBSLFU TIBSF UW POMJOF BEWFSUJTJOH /P BEEJUJPOBM GFFT UP ZPV
�� �� (/ -% � ��
4UFQIFOT3& DPN
ÂŽ
Showcase Homes
drewdeck@ReeceNichols.com
$520,000
T 3FBM &TUBUF
4UFQIFOT3& DPN
————
Audit considered to help restore trust over Rock Chalk Park By Chad Lawhorn Twitter: @clawhorn_ljw Mike Yoder/Journal-World Photo
PENELOPEE NAPP, 4, SHOPS FOR TOYS WITH HER MOTHER, FELICIA NAPP, Thursday at the Salvation Army’s Christmas Joy Shop at the Douglas County Fairgrounds. The Joy Shop continues today for families who have signed up through the Salvation Army. Corps officer Marisa McCluer says 115 families in Douglas County participated in the seasonal program, which assists with gifts for children and families.
Governor’s budget plan mostly pushes shortfall one year forward The Republican governor’s plan for preventing a deficit in the state’s Topeka — Gov. Sam main bank account relies Brownback’s plan for heavily on diverting reveliminating a proenues from other jected $279 milfunds to help filion shortfall in nance general Kansas’ current government probudget pushes grams. The tactic most of the probis a short-term lem into the solution that alstate’s next fiscal lows Brownback year, according to lessen potential to projections re- Brownback spending cuts for leased Thursday now. But absent by the Legislature’s non- a long-term solution, the partisan research staff. gap between anticipated By John Hanna
Associated Press
Business Classified Comics Deaths
Low: 43
Today’s forecast, page 8A
— Sen. Ty Masterson, an Andover Republican and chairman of his chamber’s budget-writing Ways and Means Committee revenues and spending in the next fiscal year, beginning in July, will widen, according to the projections. The budget gaps arose after aggressive personal income tax cuts enacted at Brownback’s urging in 2012 and 2013 to stimulate
the state’s economy. The reductions are expected to save taxpayers $1.3 billion in the current and next fiscal years. Legislative researchers’ new budget projections show Brownback’s plan closes the current Please see BUDGET, page 8A
INSIDE
Cloudy, warmer
High: 53
“
You’re rolling it forward into the next year.�
2A 5C-9C 7A 2A
Events listings Horoscope Movies Opinion
4A, 2C Puzzles 10C Sports 4A Television 6A
10C 1C-4C 8A, 2C
Lawrence’s city manager on Thursday issued a written apology to the community for how he handled a disputed payment for infrastructure at Rock Chalk Park, and a city commissioner said he wants to consider conducting an audit of the entire project to try to restore the public’s confidence. City Manager David Corliss took full respon-
sibility for a decision that has led to criticism that city officials did not adequately inform the Corliss public that commissioners were set to vote on an approximately $1 million Rock Chalk payment at their meeting Tuesday. Please see CORLISS, page 2A
Campaign officials reflect on races By Peter Hancock Twitter: @LJWpqhancock
After a month of reflecting on the 2014 election results in Kansas, Republican and Democratic campaign officials offered very different theories Thursday about
how the GOP managed to pull off a clean sweep despite running behind in most of the pre-election polls. Speaking at a postelection conference at the Dole Institute of Please see CAMPAIGNS, page 2A
New marriage forms
Vol.156/No.346 24 pages
Kansas begins issuing genderneutral forms for married, samesex couples, despite ongoing legal battles. Page 3A
Join us at Facebook.com/LJWorld and Twitter.com/LJWorld
SHOP N OVEMBER 28 TO DECE M BER 25
STORE Stuff your stockings with great deals from your favorite local businesses on LawrenceDeals.com!
astro kitty • bloom bath & body • dolled up • englewood orist • lawrence gymnastics • natural healers • painted kanvas • the raven • schaumburg photography • wild territory