NYSAR President Nick Gigante, President-elect Susan Goldy, Secretary/Treasurer Margaret Hartman and Legislative Steering Committee Chair Linda Bonarelli Lugo met several members of New York's Congressional delegation including Tom Reed, Michael Grimm, Nan Hayworth, Chris Gibson, Richard Hanna, Brian Haggen, Anne Buerkle and also Sen. Chuck Schumer during their visit last week to our nation's capital. NYSAR's leaders spoke with our federal representatives on a variety of key issues including: preserving the mortgage interest deduction; reform of the Government Sponsored Enterprises; the need for federal flood insurance and improved flood maps; and the need to maintain current FHA loan limits and down payment rate.

For more information on NYSAR's legislative priorities, click here.

On April 1, 2011, New York State Homes and Community Renewal (HCR) will begin accepting applications for a new mortgage program for low- and moderate-income first-time homebuyers called the Own it, Fix it New York! Home Mortgage that allows qualified homebuyers to purchase and repair homes that have been foreclosed or sold as a "short sale" and suffer from deferred maintenance.

"HCR is to be congratulated for the willingness to evolve products to meet new challenges to homeownership," said NYSAR CEO and SONYMA Advisory Council Member Duncan MacKenzie."The Own it, Fix it New York! Home Mortgage product gives new life to individual properties and whole communities devastated by foreclosure and the all too often neglect that befalls these homes.This two-pronged approach is a ‘can't miss' plan and I look forward to promoting it to the more than 50,000 REALTORS across New York State."

Proposed by the State of New York Mortgage Agency (SONYMA) Advisory Council, the program is designed to help stabilize neighborhoods and property values by improving the quality of New York's housing stock.

Complete details are available at www.nyshcr.org.

In its U.S. Foreclosure Market Report for February 2011, which reports default notices, scheduled auctions and bank repossessions in the month of February, RealtyTrac, Inc. reported New York State had 2,745 total foreclosures, a decrease of 15.2 percent from February 2010 and a decrease of 4.85 percent from January. New York State ranks number 44 of all 50 states.

Click here to learn more.

According to the latest poll by the Siena Research Institute (SRI), New York State consumer home buying plans fell 0.5 points to 4 percent in February. Overall, New York State consumer confidence decreased 8.8 points in February, while the nation's confidence increased 3.3 points. At 67.7, New York's overall consumer confidence is 9.8 points below the nation's confidence level of 77.5.

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NYSAR Radio will air its fourth show, "Advertising: Current guidelines and a discussion of proposed regulations," on Tuesday, March 22, from 2-3 p.m. The Internet-based, live call-in show is an extension of NYSAR's widely used free Legal Hotline and will be hosted by NYSAR Director of Legal Services S. Anthony Gatto, Esq. During the show, members can call and ask their real estate-related legal questions. The ultimate goal of the show is to assist the member making the call and to educate all listening members.

For more information about NYSAR Radio, please click here.