Pending home sales slowed down in May, marking the first time in nearly two years that the measurement declined on a year-over-year basis, according the the latest National Association of REALTORS Pending Home Sales Index.The Pending Home Sales Index (PHSI), a forward-looking indicator based on contract signings, slid 3.7 percent to 110.8 in May from a downwardly revised 115.0 in April and is now slightly lower (0.2 percent) than May 2015 (111.0). With last month’s decline, the index reading is still the third highest in the past year, but declined year-over-year for the first time since August 2014.
The PHSI dropped 5.3 percent in the Northeast to 93 in May and is unchanged from a year ago. Learn more here.
Tell the U.S. Senate to support H.R. 3700, which would remove a burdensome and expensive FHA Condo approval process, reduce FHA restrictions on the number of condos available to homebuyers, and permanently streamline the processing of loans under the Rural Housing Service. Take action now before the session ends.
Last week's Freddie Mac Primary Mortgage Market Survey showed that average fixed mortgage rates dropped to new 2016 lows in the wake of the Brexit vote. At 3.41 percent, the 30-year fixed-rate mortgage is just 10 basis points from its November 2012 all-time record low of 3.31 percent. Read more about the July 7 report here.
David McKey, 2016 vice chair of the National Association of REALTORS' Insurance Committee, testified before the Senate Small Business and Entrepreneurship Committee. McKey told Senators in attendance that REALTORS continue to report that their clients face significant hurdles due to excessive flood insurance costs and future uncertainty. McKey reiterated NAR's support for a range of solutions to address the problem including reauthorizing the National Flood Insurance Program, which sunsets in October 2017. Learn more here.
Gov. Andrew Cuomo announced the latest winning cities in the state’s Downtown Revitalization Initiative, part of a $100 million effort to improve city centers across the state included in this year’s state budget. State funding in the amount of $10 million per city has been announced for Elmira, Geneva, Middletown, Plattsburgh and Westbury to revitalize local neighborhoods and spur growth. Read more here.
Sign up today for REALTOR Party Mobile Alerts by texting the word, "REALTORS" to 30644. A few times a year, the National Association of REALTORS will send you a short text message letting you know that it's time to take action on an important real estate issue. Help protect and promote your industry, homeownership and property investment by signing up and taking action when called.
The Tuesday, July 19, NYSAR Radio show will cover disclosures other than agency. Tune in at 10 a.m. on July 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.
NYSAR committee sign up is now available online until July 31. Members may select up to seven of the more than 25 NYSAR committees available in 2017 – three termed/closed committees and four open committees/forums/working groups. Volunteers are asked to be sure they will be able to attend the association’s 2017 business meetings, which are Feb. 5-9 in Albany and Sept. 24-27 in Verona, before committing to serve. Click here to sign up today!
The Seniors Real Estate Specialist (SRES) course will be offered July 18-19 at the Hudson Gateway Association of REALTORS office in Goshen, NY. Learn to specialize in the 50+ real estate market by expanding your knowledge of: current lifestyle and housing trends; how life stages impact real estate choices; and how to develop a network of resources.
Register online today or call 800-239-4432 x219. Click here for more information.
The Graduate REALTOR Institute GRI-3 Agency course will be offered Aug. 3 at the Staten Island Board of REALTORS office in Staten Island, NY. Learn to provide effective, legal and ethical client representation. This course provides in-depth coverage of all forms of agency representation, associated issues and proper disclosure.Learn how to avoid the risk of misrepresentation, vicarious liability and breach of fiduciary duties.
Register online today or call 800-239-4432 x219. Click here for more information.
The Graduate REALTOR Institute GRI-7 Property course will be offered Aug. 10 at the Staten Island Board of REALTORS office in Staten Island, NY. Learn about all the factors impacting value and close more deals. Discover myriad elements that affect property value including:types of housing; appraisals and inspections; neighborhoods and amenities; energy efficiency and environmental issues; lender requirements; and more.
Register online today or call 800-239-4432 x219. Click here for more information.
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 is pleased to announce that enrollment for dental and vision insurance is now available year-round. Through NYSAR Member Perks partner USI Affinity, you can access competitive, flexible coverage from MetLife. As one of the largest dental insurance providers in the country, MetLife is well positioned to offer NYSAR members a range of dental options, affordable rates and a large network of participating dentists. Key benefits of the NYSAR Dental Plan include: three plan choices to suit your needs and budget; competitively priced coverage with group rates; comprehensive, nationwide network of dentists; freedom to choose your dentist; and coverage for orthodontia.
Plus, you can also purchase vision coverage as a rider to your dental policy or as a standalone policy.
The July RPAC Auction features a picnic backpack for four with an insulated cooler, detachable water/wine holder, flatware, plates, cutting board, bottle opener and REALTOR blue blanket.
Starting Bid: $50
Bidding Increments: $25
Local Board RPAC events have already raised more than $90,000 for RPAC so far this year. Thank you to those boards that have already stepped up and hosted an RPAC event. The Summer RPAC fundraising season remains hot! The following local board is holding an RPAC event:
• July 15: Greater Capital - Hudson River Cruise
Dinner, live music, dancing and a boatload of fun awaits aboard the Captain JP Cruise line for the 2nd Annual GCAR RPAC Hudson River Cruise. Contact GCAR for more details by calling (518) 464-0191 ext: 22 or emailing Amanda Bertram,
For a complete list of the summer RPAC events, click here.
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