In its fourth quarter and year-end U.S. Foreclosure Sales Report, RealtyTrac, Inc. reported that New York State total foreclosure sales decreased both from the previous year and the previous quarter.

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New York State Comptroller Thomas DiNapoli released an audit last week that revealed several administrative problems in the School Tax Relief (STAR) program resulting in duplicate and improper exemptions for individuals and entities not eligible to receive the property tax benefit. The audit estimated fraudulent and improper exemptions cost New York State $13 million during the 2010-11 fiscal year and could top $73 million by the 2015-16 fiscal year. To read the full audit report, click here.

The deadline for applications to NYSREEF’s Next Generation Scholarship has been extended to Friday, March 15. Please encourage your college-aged relatives to apply today!

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NYSAR is actively working on the below legislation in the New York State Legislature:

· Expanded Agriculture Disclosure Notice (A.1393 – Gunther/S.3860 - Ranzenhofer). For more information, click here.
· Restrictions on Property Owners Use of Apartments (A.3033 – Wright). To view NYSAR’s memorandum in opposition, click here.

Click here to learn more.

On Thursday, February 28, NAR President Gary Thomas testified before the Senate Committee on Banking, Housing and Urban Affairs regarding the financial condition of the FHA program and its challenges. In the testimony, Thomas explained that if the FHA had not been providing insurance in the last five years, housing prices would have fallen another 25 percent.

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Today’s NYSAR Radio show will cover best practices for operating a real estate team. Tune in at 10 a.m. this morning 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.

Join NYSAR for a free informational webinar to learn more about energy choice in New York State on Thursday, March 7. Presented by a representative from the American Coalition of Competitive Energy Suppliers (ACCES), this webinar will cover what energy choice means, the benefits of energy choice, how energy choice works in New York State and more. Click here to register to attend this webinar.

REALTOR Institute 406 – "Price it Right – Understanding the Appraisal Process" – will be offered March 11 at the Buffalo Niagara Association of REALTORS in Amherst, NY. This course teaches youthe role and responsibilities of the appraiser in order to foster a smooth real estate transaction and offer your clients a high level of professionalism.

Click here for more information or to register.

REALTOR Institute 402 – "Real Estate Legal Issues" – will be offered March 12-13 at the LIBOR REALTOR Service Center in Riverhead, NY. This course gives you a clear understanding of agency practice and policy issues, and teaches how to avoid misrepresentation, antitrust and fair housing violations.

Click here for more information or call 800-239-4432 to register for the free course.

REALTOR Institute 404 – "Serving Real Estate Investors" – will be offered March 12 at the Greater Syracuse Association of REALTORS in Syracuse, NY and March 14 at the Columbia Greene Board of REALTORS in Hudson, NY. This course will teach you how to complete financial calculations, explain concepts used in evaluating real estate as an investment, and help clients negotiate, purchase, finance, manage and sell commercial and/or investment property.

Click here for more information or to register.

NYSAR's compliance partner, PossibleNOW, makes do-not-call compliance easy. With DNCQuickcheck you can instantly verify phone numbers, access compliance training, generate reports for safe harbor defense assistance and much more. Individual accounts pay just $10/month (a 50-percent savings) or cover unlimited agents in one office for $100/month. To subscribe, visit www1.dncquickcheck.com or call 800.585.4888 and use member code SC1477NY.

NYSAR's health insurance plans, administered by USI Affinity and underwritten by MVP Health Care, offer members four cost-effective, comprehensive plan options all with prescription drug coverage, a nationwide provider network, flexible care with no referrals and much more. Don't wait, review plan options and get your customized quote today.Visit www.myrealtorinsurance.com/nysar or call 888.834.3713 x18626 to speak with Ned Cox, NYSAR's dedicated benefits counselor.

Congratulations to the February RPAC auction winner Lynne Freda from the Sullivan County Board of REALTORS. Lynne submitted the high bid of $280 for the Kindle Paperwhite e-reader. Thank you Lynne for your consistent annual investments in RPAC. Stay tuned for the March RPAC auction item to be announced later this week.

Once again, NYSAR is offering the RPAC of NY Major Investor Installment Plan. The plan gives Major Investors the option to spread their RPAC investments over a course of months to achieve Major Investor status ($1,000+) by the end of the fundraising year in October. Click here for more information and to enroll.