Pending home sales increased in November for the third straight month and reached the highest level in two-and-a-half years, according to the National Association of REALTORS (NAR).

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In its Weekly Primary Mortgage Market Survey for the week ending December 27, 2012, Freddie Mac reported that the 30-year fixed-rate mortgage (FRM) for the Northeast averaged 3.38 percent and the 15-year FRM averaged 2.68 percent.

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New York State Comptroller Tom DiNapoli released a report last week that described the continuing financial struggles New York’s local governments are facing. The report found that New York’s local government expenditures are exceeding revenues with many of them burning through reserve and rainy day funds.

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The Poughkeepsie Journal reported last week that state administrators appear ready to release regulations for shale gas development by the end of February.

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With the need for a budget deal only days away, please make sure you have completed the NAR Call for Action telling Congress to do no harm to housing by protecting the mortgage interest deduction (MID).

Please respond to the Call for Action now if you haven’t already by clicking here. 

The fourth quarter edition of Legal Lines is now available on NYSAR.com. This issue features the new changes to the Real Property Law as it relates to the termination of a licensee by a broker. It also covers a case involving the issue of illegal rentals by real estate licensees and an article on online copyright law. Department of State third quarter administrative law judge decisions are also included.

Click here to read the fourth quarter edition of Legal Lines.

The Tuesday, January 8, NYSAR Radio show will take a look back at 2012 and also preview what’s to come in 2013. Tune in at 10 a.m. on January 8 by using the player on the NYSAR Radio page or click here to listen on your Apple computer. 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.

As of January 2, the Legal Hotline will be available Monday through Friday from 9 a.m. – 3 p.m. Now you’ll have 30 hours per week to access our attorneys for answers to your legal questions relating to real estate law and practice. For more information on the Legal Hotline, click here.

NYSAR’s Code of Ethics and Professional Standards Training will be offered January 16 at the DoubleTree Hotel in East Syracuse, NY. This course provides attendees with an update on professional standards, Code of Ethics and enforcement procedures, plus other changes adopted by NAR's Board of Directors or Delegate Body. It also satisfies both NAR's new member and quadrennial ethics training requirement.

Click here for more information or to register.

The NYSAR Mid-Winter Business Meetings will be held February 11-14, 2013, at the Desmond Hotel and Conference Center in Albany, NY. The meetings will feature committee meetings, inaugural dinner, the General Session and more.

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It’s simple, we partner with premier vendors to save you money. With access to exclusive price discounts and special offers, along with a host of additional programs and services, your NYSAR membership can help you do your business better. Take advantage of our partnerships to access: comprehensive insurance options from USI Affinity; E&O coverage from Pearl Insurance; electrical and natural gas supply from Energy Plus; free fax-to-email services from MongoFAX; shipping discounts from UPS; and much more! Visit the Member Perks section at NYSAR.com for a complete list of NYSAR programs and full details about each program.

Back by popular demand, the RPAC VIP Lounge will be offered at the Desmond on Tuesday, February 12, from 7:15 a.m. to 5 p.m. The lounge will feature a hearty continental breakfast, hot lunch buffet, snacks and beverages, chair massage, manicurist, professional photographer, cable TV, computers, printer, unlimited internet access, cell phone chargers, newspapers and more!

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Susie Madden from the Sullivan County Board submitted the high bid of $200 on December’s RPAC auction item, the Sharper Image Heated Ice Scraper. Thank you Susie for your consistent support and advocacy on behalf of RPAC. Susie has invested at the President’s Club level for many years and serves as the Sullivan County RPAC Chair. Stay tuned for the January RPAC auction item to be announced later this week!