REALTORS spent the day urging their legislators to approve a two-percent property tax cap, along with directing their attention to other REALTOR legislative priorities. REALTORS were encouraged by Lt. Governor Robert Duffy and Assemblyman Joe Morrelle to continue their support of a two-percent property tax cap.

Later in the afternoon, NYSAR President Nick Gigante and NYSAR CEO Duncan MacKenzie participated in a press conference where Gov. Andrew Cuomo announced he and legislative leaders had reached a deal on the tax cap.

The agreement creates limited exemptions for burgeoning pension costs and also put an expiration date on the cap, linking it to the expiration for rent regulations for New York City and its suburbs.

"Today, an important promise to bring relief to New York State's beleaguered homeowners and businesses is a giant step closer to being kept by Gov. Andrew Cuomo and state lawmakers," said NYSAR Chief Executive Officer Duncan MacKenzie. "The agreement on an effective property tax cap announced this afternoon gives us all hope that we are at the doorstep of a better, stronger New York."

To read the entire statement, click here.

For more information on the tax cap agreement, click here.

New York State home sales slowed in April from both March 2011 and April 2010, according to preliminary single-family sales data accumulated by the New York State Association of REALTORS. The statewide median sales price also declined on a month-to-month basis for the first time since October 2010.

New York REALTORS sold 4,900 existing single-family homes in April, a decrease of 23.4 percent from the April 2010 total of 6,397 and a 3.8-percent decline from March 2011.

The April 2011 median sales price of $200,000 represents an increase of 5.3 percent from the April 2010 median of $190,000 and a 4.8-percent dip from the March 2011 median of $210,000.

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Have you listened to NYSAR Radio yet? If not, listen in and see what you are missing. Member feedback has been overwhelmingly positive. NYSAR Radio is a live, Internet based, call-in show where legal topics are discussed and you have an opportunity to call in and ask your question live. The next show is scheduled for June 14 at 10 a.m. The June 14 show addresses brokerage dos and don'ts. It will cover brokerage issues, and those faced by associate brokers and salespersons as well. NYSAR will also replay the show the next day at 10 a.m. and 2 p.m. Listen in and see why NYSAR Radio is growing in popularity. Visit http://www.nysar.com/ to find out how to more information and to listen in.

In its first quarter 2011 U.S. Foreclosure Sales Report, which reports total number of foreclosed home sales as well as average sales price of these properties, RealtyTrac, Inc. reported New York State total foreclosure sales decreased 33.5 percent from the last quarter and 60.81 percent 2010 first quarter.

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NYSAR has declared the month of June NYSAR Housing Opportunities Month. We're asking all members to participate by donating their coffee cash, lunch money or spare change to the NYSAR Housing Opportunities Foundation. All contributions are tax-deductible and help the foundation award first-time homebuyer grants to applicants working with a REALTOR to use toward their down payment and closing costs. Everyone that participates by making a donation in the month of June will be entered into a drawing for a $50 American Express gift card.

With just a small donation, you can make a big difference. Click here to contribute online today.