E-News

Closed sales of residential properties in New York State surpassed the 100,000 mark for the second consecutive year to reach 106,919 during 2014, according to the annual housing market report released by the New York State Association of REALTORS. The 2014 annual median sales price of $225,000 kept pace with last year. 

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Builder confidence in the market for newly-built, single-family homes declined one point nationally to 57, according to the latest National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). This marks the third straight month that the index has hovered in the upper 50s range. In the Northeast, the index was up two points to 47.

NAHB Chief Economist David Crowe said that steady economic growth, rising consumer confidence and a growing labor market will help the housing market continue to move forward in 2015. To read the entire NAHB press release, click here.

Privately-owned housing starts in December were at a seasonally adjusted rate of 126,000 for the Northeast, up 12.5 percent from November, according to data released by the U.S. Commerce Department. Nationally, housing starts were at an annual rate of 1,089,000, a 4.4-percent increase from the November total of 1,043,000.

Building permits for the Northeast fell in December, decreasing 16.8 percent to 99,000, while nationally, building permits fell 1.9 percent to 1,032,000. To read the entire U.S. Commerce Department press release, click here.

Gov. Andrew Cuomo recently presented his "2015 Opportunity Agenda," a combination of the constitutionally required State of the State address and his 2015-16 state fiscal year budget proposal.

The plan sets a $142 billion state budget that would increase overall spending by 2.8 percent to pay for new education spending, infrastructure projects and provide tax relief to certain homeowners. State operating funds — excluding capital spending and federal aid — would increase 1.7 percent, keeping with Cuomo's pledge to keep state spending to less than 2 percent. Total school aid would grow 4.8 percent under Cuomo's plan to $23.1 billion, a $1 billion increase if the Legislature adopts several reform proposals Cuomo included in his presentation. State aid to local governments would remain flat at $715 million, but Cuomo proposed a $150 million fund for local governments who consolidate and share services. Click here to view a summary of the governor’s proposals.

In his sixth State of the Union speech, President Barack Obama pointed to the cut in the annual FHA insurance premium that takes effect later this month as the kind of "middle-class economics" initiative he wants to focus on to help build on the country’s improving economic picture. Obama also highlighted his position on Internet net neutrality, a policy framework backed by NAR that is intended to prevent Internet service providers from creating different tiers of service levels that would impact consumers’ online experience. 

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Gov. Andrew Cuomo has proposed changes to the Brownfield redevelopment program, which targets blighted communities and properties that might otherwise stay vacant and polluted. Cuomo’s reforms will limit the state's Brownfield Tax Credit program to reward money spent only on actual clean-up, not subsequent development. Going forward, the program would be limited to areas in economic distress, on land worth less than the cost of clean-up, or for projects that include the creation of affordable housing.

The Brownfields program was designed to encourage the clean-up of polluted sites by potential developers, but has cost more than $1 billion to rehabilitate more than 200 sites over the last decade.

Gently-used items will be sold to business meeting attendees shopping in the NYSAR Housing Opportunities Foundation's "It's New to You" couture store on February 9-10 at the Desmond Hotel in Albany, NY. Shop for men's and women's formal wear, business wear, smart casual clothing, outerwear, shoes and accessories. You still have time to donate as well - just bring items with you to the meetings! Click here for more information.

The Military Relocation Professional (MRP) core course will be offered on February 11 at the Mohawk Valley Association of REALTORS in Utica, NY. Help current and former military service members find housing solutions that best suit their needs and make best use of their available benefits.

Register online today or call NYSAR at 800-239-4432 x219. Click here for more information.

Realty Security: Agent and Client Personal Security (3 hours real estate CE) will be offered February 11, during the Mid-Winter Business Meetings at the Desmond Hotel in Albany, NY. Attend this FREE ($50 value) CE session to gain valuable tips and strategies for staying safe wherever your job takes you. Pre-registration is required and available on a first-come, first-served basis. 

Click here for more information or call NYSAR at 800-239-4432 x219 to register.

NYSAR’s exclusive partner for errors and omissions insurance, Pearl Insurance offers you comprehensive and affordable coverage customized to fit your needs. Their program, underwritten by XL Insurance, includes innovative features such as: deductible reduction; open house coverage; environmental failure to advise; innocent partner protection; and public relations advisory services.

For more details or a customized quote, call (800) 289-8170 or visit www.pearlinsurance.com/nysar.

Enrollment for health insurance in 2015 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, visitwww.myrealtorinsurance.com/nysar.

"True Blues" features Presidents Jimmy Carter, John F. Kennedy, Bill Clinton, Woodrow Wilson, Lyndon B. Johnson, Harry S. Truman, Andrew Jackson and Franklin D. Roosevelt gathered for a friendly game of poker! The print is matted, framed and ready for your wall. Bidding closes this Friday, January 30. Click here to learn more.

Back by popular demand, the RPAC VIP Lounge will be offered at the Desmond! Take refuge from NYSAR’s hectic business meetings by visiting the RPAC Lounge where you’ll gain access to a continental breakfast, hot lunch buffet, snacks and beverages, chair massage, manicurist, psychic readings, cable TV, computers, printer, unlimited Internet access, cell phone chargers, newspapers and more! Register online while registering for the business meetings. The cost is a $250 RPAC pledge or investment. Questions? Email NYSAR Political Affairs Coordinator Derick King at dking@nysar.com or call 518-463-0300 x238. Click here for a flyer with more information.