E-News

October home sales throughout New York State kept pace with last October, declining by less than one percent, according to the housing market report released by the New York State Association of REALTORS. The statewide median sales price softened slightly compared to October 2013. 

Click here to learn more.

The National Association of REALTORS has launched a nationwide Call for Action on "The Mortgage Forgiveness Tax Relief Act." This bill would extend an expired provision that has helped millions of distressed American families by allowing tax relief for homeowners when lenders forgive some portion of the mortgage debt they owe. The provision expired last December 31 and it is imperative to get it extended before impacted homeowners have to file their 2014 income tax. The Call for Action asks all REALTORS to contact their member of Congress and United States senators and urge an immediate vote.

New York currently has a 10-percent response rate. Please take action now on this very important issue!

Let prospects and clients know you adhere to a strict Code of Ethics and are a source they can trust by using a .REALTOR domain name. Be sure to claim your personalized .REALTOR domain today and take advantage of the exclusive benefits being a member of the National Association of REALTORS provides you.

Click here to start the registration process for your domain. Click here to watch an instructional video on the registration process.

Gov. Andrew Cuomo has signed into law NYSAR-supported A.9539(Morelle)/ S.7224(Farley) that provides for technical amendments to New York State banking laws adjusting the subprime threshold for loans insured by the Federal Housing Authority (FHA). The legislation codifies previously adopted emergency rules by the New York State Department of Financial Services that addressed the unforeseen consequence of the imposition of the FHA mandated Mortgage Interest Premium as it relates to a home loan’s annual percentage rate.

To read NYSAR’s Memorandum in Support, click here.

A four-member review panel at the National Transportation Safety Board (NTSB) reversed and remanded a decision made by an NTSB administrative law judge (ALJ) in the case Huerta v. Pirker, a landmark case dealing with the commercial use of drones and the Federal Aviation Administration's (FAA) jurisdiction over them. The review board rejected the ALJ’s interpretation that the unmanned vehicle was a model aircraft, and therefore excluded from FAA oversight.

The National Association of REALTORS advises members that the use of unmanned aerial vehicles for real estate marketing is currently prohibited by the FAA. Such prohibited use of unmanned aerial vehicles may lead to the assessment of substantial fines and penalties. For more information, click here.

Earlier this month, NAR members heard fromReal Estate Settlement Procedures Act (RESPA)attorney Phil Schulman about the Consumer Financial Protection Bureau's (CFPB) changes to RESPA and the Truth in Lending Act (TILA) under the Dodd-Frank Wall Street Reform and Consumer Protection Act. The new rule combines the Good Faith Estimate with the Truth in Lending (TIL) disclosure, now called the "loan estimate," and the HUD-1 settlement statement with the final TIL, now called the "closing disclosure." Perhaps the greatest change is that the closing disclosure must be in the hands of the consumer three days before closing. Schulman also discussed new enforcement efforts under RESPA's anti-kickback provisions. CFPB is aggressively enforcing RESPA and people should be reminded that they cannot receive anything of value for the referral of settlement services in residential transactions involving a mortgage. Furthermore, marketing agreements are under extra scrutiny as well. 

Click here to view Phil Schulman's PowerPoint presentation.

The Tuesday, December 16, NYSAR Radio show will recap 2014 and take a look at what’s ahead for 2015. Tune in at 10 a.m. on December 16 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.

The Resort and Second-home Property Specialist (RSPS) course will be offered December 2 at the High Peaks Resort in Lake Placid, NY. This course gives you the knowledge and skills you need to specialize in: buying, selling or managing second homes in a resort, recreational and/or vacation destination; and properties for investment, development or retirement.

Click here for more information or to register.

NYSAR’s newest Member Perks partner, Taradel, is an approved affiliate of the U.S. Postal Service’s Every Door Direct Mail® (EDDM®) program. Through this partnership, NYSAR members receive a 5-percent discount to design, target, print and mail marketing pieces to every address in a specific zip code or carrier route. Forget buying mailing lists and printing labels, get started with Every Door Direct Mail® today. Click here to access the exclusive NYSAR EDDM® member portal.

Enrollment for health insurance in 2015 is now open. It will close on February 15, 2015. Look to NYSAR Member Perks partner USI Affinity to help you navigate the plan options and find the coverage that best suits your needs. Remember, you will face tax penalties if you do not obtain coverage. Also, if you miss open enrollment, you will not be able to obtain health insurance until the next open enrollment period unless you qualify for a special enrollment. For more information, visit www.myrealtorinsurance.com/nysar.

Last week, NYSAR and Taxbot presented a November tax tips webinar for members to learn how to pay the smallest amount of taxes possible next year by doing a few simple things today. The recording of the webinar is now available in the Media Center of NYSAR.com or by clicking here. For more information on Taxbot, click here.

The Polaroid OneStep camera offers signature instant images, features focus-free simplicity and an automatic flash. It also offers a selectable close-up lens for shots between two and four feet. Starter pack of glossy color film is included! Bidding closes on Monday, December 1.

Click here to learn more.

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 10, 2014.
Where: Atlantic City Convention Center, Room 308/309
Cost: $250 RPAC investment (to be applied to 2015 RPAC year)
Amenities include: shoe shine; manicures; massages; professional photographs; gaming lessons by one of Atlantic City’s renowned card dealers; business facilities; hot lunch; beverages; and a deluxe coffee barista!

To register today, contact NYSAR’s Political Affairs Coordinator Derick King at 518-463-0300 x238 or complete the registration form and return to NYSAR via fax 518-462-5474 or email to dking@nysar.com.