E-News

The average number of days to close a mortgage loan dropped to 46 days in February. That is down from 50 days a month prior and more in line with averages prior to new mortgage rules that took effect, according to Ellie Mae’s Origination Insight Report. Click here to learn more.

Members have until May 23 to complete committee requests for the National Association of REALTORS. Please note that there are changes to the process this year. Members must first complete an expertise profile prior to submitting an application to serve on a committee. You must also apply to serve on a committee yourself; applications cannot be submitted for someone else. You can submit applications for up to five committees, ranked in order of preference. Members who have submitted an application can obtain up to five endorsements, which can be made using a unique link online. Visit www.realtor.org/CommitteeApplication (log-in required) to get started.

Pending home sales rose solidly in February to their highest level in seven months and remain higher than a year ago, according to the National Association of REALTORS (NAR).The Pending Home Sales Index, rose 3.5 percent to 109.1, 0.7 percent above February 2015.Despite rising nationally, the index fell 0.2 percent to 94 in February for the Northeast. This is still 12.6 percent above a year ago. To read the entire NAR press release, click here.

NAR recently provided an update, found here, on its fight to ease condominium financing regulations, as well as the progress of a federal measure looking to regulate more bodies of water under the Clean Water Act. NAR also took a look at the struggle of renters to buy a home and the impact of millennials on the housing market. In addition, NAR highlighted its Legal Action Program to provide legal assistance to REALTOR members and associations.

On March 22, the New York City Council passed a proposal by a vote of 42-5 to overhaul the city’s 55-year-old zoning code. This, paired with the Mandatory Inclusionary Housing plan, would allow for larger residential developments in future rezonings, while requiring that a portion of the new housing be permanently affordable. Zoning for Quality and Affordability, which enables more residential development, passed 40-6. The housing requirement exempts buildings with fewer than 10 units and allows those with 11-25 apartments to instead pay into a city-run affordable housing fund. More on this story can be found here and here.

NYSAR’s annual Lobby Day is Tuesday, May 24, 2016 in Albany. This year, we will be advocating for a statewide first-time homebuyer savings account program, among other legislative priorities. For those traveling to Albany the day prior, a block of rooms at the new Renaissance Albany Hotel, located across the street from the New York State Capitol Building, has been set aside until April 23. The rate is $179. To reserve a room, call 518-992-2500 and use our room block code SAR, or enter the online group code: SARSARA. NYSAR will reimburse up to $75 per person for travel expenses to Albany for Lobby Day. NYSAR also reimburses local boards half the cost to lease mass transportation to Lobby Day. NYSAR will provide breakfast, lunch, lobbying orientation and lobbying materials.

Stay up-to-date on NYSAR Government Affairs news and events by following us on Facebook and Twitter.

The Tuesday, April 19, NYSAR Radio show will cover the topic of Fair Housing in honor of April being Fair Housing Month. Tune in at 10 a.m. on April 19 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. Find more information as well as a list of links to play NYSAR Radio from any of your mobile devices here.

Find out how to protect your income from taxes while saving for retirement. Join NYSAR and Member Perks Partner UBS Financial Services for a must-attend webinar on the benefits of starting an Independent 401(k) plan on Thursday, April 7, at 2 p.m. In addition to reducing your taxable income and saving for retirement,an Independent 401(k) plan gives you the flexibility to decide whether to contribute and how much on an annual basis, and the ability to borrow against your own retirement savings both tax-free and penalty-free. Through NYSAR’s partnership with UBS Financial Services, you’ll pay a minimal annual fee of only $25 for your account. Click here to register today.

The GRI-6 Sellers course will be offered April 1 at the Long Island REALTOR Service Center in Jackson Heights, NY. Represent seller clients in a way that keeps them coming back. Get a competitive advantage with strategies to: gain more listings; get clients to price to sell; enhance your marketing; and avoid Fair Housing violations and safety concerns. 

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

The GRI-2 Business course will be offered April 6 at the Buffalo Niagara Association of REALTORS in Amherst, NY. Take your business to the next level and gain market share. This course provides the building blocks to: create an effective business plan; build support structures using assistants and teams; prospect successfully and tap into niche markets; and develop policies to avoid risk. 

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

TransUnion SmartMove is an easy, comprehensive and reliable web-based tenant background check offering access to a full credit report, criminal report, customized leasing recommendations and suggested deposit amount to request at lease signing. The trusted brand’s process is all online and you pay only when you use it with no set-up, minimum or annual fees. Use promo code "NYSAR123" to get $5 off today. Learn more here.

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.

The Staten Island Board of REALTORS raised $1,600 for RPAC last week during an old fashioned game of beanbag toss, held during their annual Agent's Day gathering! Congratulations to the board on the successful fundraising endeavor and thank you to those who invested their time and money into RPAC to play the game.

NYSAR President Linda Lugo from the Long Island Board of REALTORS submitted the high bid of $600 on the March RPAC auction item, one gallon of pure New York maple syrup. Thank you Linda for your leadership across the association and for investing in RPAC at the Crystal R level ($2,500). Stay tuned for the April RPAC auction item to be announced later this week.