E-News

Congress has reinstated the loan limit formula and maximum cap for Federal Housing Administration-insured loans for two years at 125 percent of local area median home prices, up to a maximum of $729,750 in the highest cost markets. Click here to learn more.

The NYSAR Housing Opportunities Foundation is now offering $2,000 grants to first-time homebuyers for closing cost and/or down payment assistance. Click here to learn more.

New York REALTORS sold 5,866 existing single-family homes in October 2011, an increase of 1.4 percent from October 2010. The October 2011 sales total fell 11.7 percent from the September 2011 total of 6,647. The October 2011 median sales price was $215,900, an increase of 1.6 percent from October 2010 and on par with the September median of $216,000. Click here to learn more.

Gov. Andrew Cuomo has announced the five-member committee that will score and rank each of the plans submitted by the 10 regional economic development councils competing for roughly $200 million in direct state funding. The committee is set to begin work November 28, 2011. The grants will be announced by year's end. Click here to learn more.

Congress has extended the National Flood Insurance Program (NFIP) authority through December 16, 2011. NAR is urging Congress to complete a five-year NFIP re-authorization bill (H.R. 1309) to provide certainty and avoid further disruption to real estate markets. Please respond to NAR's Call for Action by clicking here. Click here to learn more.

Submit your most creative video telling everyone the value of working with a New York State REALTOR and you could win a $500 American Express gift card! Submissions must be received by December 31, 2011. Click here to learn more.

The 2011 REALTORS Triple Play Convention and Trade Expo will be held December 6-8 in Atlantic City, NJ. With free CE sessions featuring the industry's top speakers, unparalleled networking and referral opportunities, and an expo with the hottest products and services, Triple Play really is the event you can't afford to miss. Onsite registration for REALTORS is just $99. Click here to learn more.

Short Sales and Foreclosures (SFR) – "What Real Estate Professionals Need to Know" – will be offered December 9 at the Staten Island Board of REALTORS office in Staten Island, NY. This course teaches you how to counsel homebuyers on the perils of risky finance programs. You'll also learn how to develop a plan to mesh foreclosure property into your listing/selling business and work with buyers who want to take advantage of foreclosure properties. Click here for more information or to register.

Your NYSAR membership gives you an extra 10-percent discount at NAR's REALTOR.org store. Shop the store and take advantage of exclusive savings on NAR's entire line of products and publications including books, brochures, DVDs, research reports and more. To redeem your 10-percent discount, visit http://www.realtor.org/store and simply enter member code "NYSAR2" at checkout.

To kick off the 2012 fundraising year, RPAC will once again be hosting the VIP Lounge at the Triple Play Convention & Trade Expo in Atlantic City on Wednesday, December 7. The lounge will feature food, beverages, laptops, printers, cell phone chargers, newspapers, shoe shine, chair massage, and a happy hour! Click here to learn more.

The November RPAC silent auction item is an L.L. Bean traditional Balsam wreath. Bids must be placed by November 30, at 11:59 p.m. Click here to learn more.