E-News

In its October 2013 U.S. Residential & Foreclosure Sales Report, RealtyTrac Inc. reported that New York State residential properties sold at an estimated annualized pace of 151,668 in October, remaining level with the previous month but showing an increase of 3 percent from the same time last year. The median sales price for New York was $360,000 in October, up 3 percent from September and up 22 percent from October 2012. The median price of a distressed sale – in a foreclosure or bank-owned property – was $245,000, a 7-percent increase from the previous month and up 9 percent from a year ago. 

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New York’s response rate is currently 9 percent on this critical flood insurance program legislation. Please take action and urge your Federal Representatives to pass the "Homeowner Flood Insurance Affordability Act." This legislation would delay flood insurance rate increases for certain properties until the Federal Emergency Management Agency (FEMA) completes the congressionally mandated study of flood insurance rate affordability.

Please respond to this Call for Action by clicking here.

The Federal Housing Finance Agency (FHFA) has announced that the 2014 maximum conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac will remain at $417,000 for one-unit properties in most areas of the country. Important to New York, the high-cost loan limit will remain $625,000 for the counties comprising the lower Hudson Valley, New York City and Long Island, while the rest of the state will remain at the $417,000 national limit.

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Late last week, Mayor Michael Bloomberg released New York City’s first quarter budget modification. The budget remains balanced for the current fiscal year, and the plan adopted will keep the books balanced through 2015. 

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The Tuesday, December 17, NYSAR Radio show will take a look back at legal issues in 2013. Tune in at 10 a.m. on December 17 on your PC or Mac by using the player on the NYSAR Radio page. You will need to be logged in to listen. If you have not yet created your account with the website, you will need to click on "New User" on the Member Login page and follow the prompts.

Click here for more information as well as a list of links to play NYSAR Radio from any of your mobile devices.

New legislation now requires all homeowners receiving a Basic STAR exemption to register with the New York State Tax Department in order to receive the exemption in 2014 and subsequent years. Homeowners will not have to register in order to receive their 2013 STAR exemptions and will not have to re-register every year.Based on the information provided in the registration process, the Tax Department will monitor homeowners’ eligibility in future years. Registration will continue through December 31, 2013. Click here to register.

Did you know saving $10,000 on your taxes is worth more than making an extra $17,000? You work hard for your commissions, so learn how to keep more of them through tax breaks!

Join us for this exclusive NYSAR webinar with former IRS trainer, CPA, and tax attorney Sandy Botkin on Thursday, December 5, at 2:30 p.m. This will be a powerful presentation covering five strategies to save on your taxes and stay out of trouble with the IRS.

Click here to register today.

Take advantage of NYSAR’s newest Member Perks partner, Taxbot, to keep more of your commissions through tax deductions! The Taxbot mobile app offers you the ability to track business mileage and expenses with your iPhone or Android smartphone or tablet and turn those expenses into IRS compliant tax deductions.

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With the changes resulting from the Affordable Care Act, NYSAR knows that understanding your health insurance options is more confusing than ever before. Fortunately, NYSAR Member Perks partner and insurance administrator USI Affinity is here to help guide and support all NYSAR members towards making the best health care decisions. Get your questions answered today by calling USI Affinity at 888.834.3713.

When in Atlantic City...do as the high rollers do and enjoy all of the city’s pleasures in one location: the RPAC High Rollers' Suite on Wednesday, December 11, 2013! Amenities include: shoe shine; manicures; massages; professional photographs; blackjack and roulette lessons by one of Atlantic City’s renowned card dealers; business facilities; hot lunch; beverages; and a deluxe coffee barista. New this year, we are also offering a "barista pass" to take advantage of just the coffee barista for a $15 RPAC investment. 

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