Home sales in the Empire State dipped slightly from one year ago, but still hit the second highest total on record for October, according to the housing market report released by the New York State Association of REALTORS. The 11,201 closed sales in October 2016 represents the second highest total for the month after the 12,003 sold in October 2015. The statewide median price growth trend continued with a 3.8-percent increase from October 2015. Learn more here.

Existing-home sales ascended in October for the second straight month and eclipsed June’s cyclical sales peak to become the highest annualized pace in nearly a decade, according to the National Association of REALTORS (NAR).Total existing-home sales grew 2 percent to a seasonally adjusted annual rate of 5.6 million in October from an upwardly revised 5.49 million in September. October existing-home sales in the Northeast climbed 1.4 percent to an annual rate of 750,000, and are now 1.4 percent above a year ago.To read the entire NAR press release, click here.

Sales of new single-family homes in the Northeast in October fell 9.1 percent to 30,000, according to the U.S. Commerce Department. September’s revised annual rate was 33,000.Nationally, new home sales were at a seasonally adjusted annual rate of 563,000, 1.9 percent below the revised September rate of 574,000. To read the entire U.S. Commerce Department press release, click here.

Last week, NYSAR President Linda Lugo emailed membership about a new law that has taken effect requiring agency-related coursework to be included within a real estate licensees' 22.5 hours of continuing education. Licensees making their first renewal are required to complete two hours of agency-related coursework while all other licensees are required to complete one hour of agency-related coursework. To help REALTORS satisfy this new requirement, the Triple Play REALTOR Convention and Trade Expo on Dec. 5-8, 2016 will include a Legal Update on agency taught by NYSAR Director of Legal Services Anthony Gatto, Esq. Click here for more information on Triple Play and click here to view the letter from Lugo outlining the changes.

The Federal Housing Finance Agency recently announced that it is increasing the loan limit from $417,000 to $424,100 for single-family homes in 2017. For the last 10 years across most of the country, the Fannie Mae and Freddie Mac loan limit remained at $417,000 for single-family homes. This baseline loan limit was determined by the 2008 Housing and Economic Recovery Act and couldn’t be increased until home prices returned to pre-decline levels. Click here for the full article.

Last week, Mayor Bill de Blasio, Attorney General Eric Schneiderman and Gov. Andrew Cuomo announced that the Department of Housing Preservation and Development would be issuing letters to building owners of 178 residential buildings in New York City. The letter will state that their 421-a tax benefits will be revoked unless they comply with the requirements of the existing program, including registering their apartments as rent-regulated. Click here for the complete story.

The Tuesday, Dec. 20, NYSAR Radio show will take a look back at 2016 and preview what’s new for 2017. Tune in at 10 a.m. on Dec. 20 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.

Planning to shop on Amazon this holiday season? Remember to shop at smile.amazon.com and support the NYSAR Housing Opportunities Foundation. When you shop atsmile.amazon.com, you’ll find the exact same low prices, vast selection and convenient shopping experience as Amazon.com, with the added bonus that Amazon will donate a portion of the purchase price to your favorite charitable organization. Just search for NYSAR Housing Opportunities Foundation in the search bar, select the organization and shop! All donations go directly to the First-time Homebuyer Grant Program that awards $2,000 grants to low-to-moderate income families/individuals helping them to defray the costs involved in closing on a home.

The GRI-8 Technology course will be offered Nov. 30 at the Greater Rochester Association of REALTORS in Rochester, NY. Learn how to be mobile and paperless in your real estate practice with tips on: transaction management tools; Internet advertising and syndication; e-marketing and social media; automation hardware, software and apps.

 

Register online today or call 800-239-4432 x219. Click here for more information.

Learn how to hit the bullseye on perfect pricing with RPR during a webinar on Dec. 21 at 2:30 p.m. RPR’s powerful analysis tools are helping REALTORS across the country educate and impress clients. Starting with the AVM or RVM® for a property, learn how to apply your local market intelligence to refine this starting point with adjustments, addition of home improvement values, and comparison refinement tools. From there, create a quick and easy CMA as well as an in-depth sales comparison analysis, demonstrating how to lead clients through the intricacies of market realities with easy-to-understand facts and graphics. Click here to register today.

Office Depot and Office Max are now one company, and have partnered with NYSAR to provide you exclusive members-only discounts at all store locations and online. Benefits include: up to 80 percent off preferred products; 93,000 products discounted below retail pricing; free next-day delivery on online orders more than $50 (excludes furniture); exclusive low printing costs; and more. Visit http://www.officediscounts.org/nysar.html to shop online or print your free royalty card for in-store purchases. You can also enroll your business in a business account/direct billing account by calling 855-337-6811 ext. 12897.

NYSAR’s newest Member Perks partner, UBS Financial Services, helps you reduce your taxable income and save for retirement with Independent 401(k) plans. Designed with the flexibility to decide whether to contribute and how much on an annual basis, you have the ability to borrow against your own retirement savings both tax-free and penalty-fee. Through NYSAR’s partnership, you’ll pay a minimal annual fee of only $25 for your account. Visit the Retirement page of NYSAR.com or contact Christopher Michelsen, financial advisor at UBS Financial Services, at 212-626-8515 for more details and to enroll now. Click here to watch a recent webinar on tax and retirement planning for REALTORS. 

The final auction item of the 2016 fundraising year item is the Michael Kors "Hamilton" leather medium brown handbag with shoulder strap and handles. Visit the RPAC Facebook group to place a bid or contact Derick King at dking@nysar.com or 518-463-0300 x238. Bidding will be open until the close of business today, Tuesday, Nov. 29.

NYSAR must receive all RPAC investments by tomorrow, Wednesday, Nov. 30, to be applied toward the 2016 fundraising year. All donations received by NYSAR after Nov. 30 will be applied toward the 2017 RPAC fundraising year. Thank you all for the support toward our shared RPAC goals.

The legendary RPAC High Rollers Suite will be open on Wednesday, Dec. 7, during Triple Play in Atlantic City. Amenities include: shoe shine; manicures; massages; professional photographs; a psychic reader; business facilities; hot lunch; beverages; and a deluxe coffee barista! Get involved with jump starting your 2017 RPAC investments by attending. The cost is a $250 RPAC investment. To pre-register, contact NYSAR’s Political Affairs Coordinator Derick King at 518-463-0300 x238 or dking@nysar.com. Walk-in registration will be available onsite as well! Click here to learn more.