For the second consecutive quarter, New Yorkers' view of the real estate market is strongly positive and the expectation is that the market is here to stay, according to the results of the third quarter 2013 New York State Consumer Real Estate Sentiment Scores released by the Siena Research Institute (SRI).
Click here to learn more.
One year after Hurricane Sandy devastated coastal communities in the Northeast, the U.S. Department of Housing and Urban Development (HUD) allocated a combined $5 billion through a second round of recovery funds to five states and New York City. New York State will receive approximately $2.1 billion in additional funds, while New York City will receive approximately $1.3 billion.
Click here to learn more.
Gov. Andrew Cuomo has signed legislation that could lower
property tax assessments on properties destroyed or damaged by Superstorm
Sandy. The new law will allow for retroactive adjustments of January 2013
tax bills.
The bill aims to provide relief to property owners that
received tax bills in 2013 that were based on pre-Sandy valuations and that did
not accurately reflect storm losses. Property owners who have already
paid their January 2013 tax bills can receive refunds. Property owners have 90
days from today, October 29, 2013, to apply to a local assessor for a
reduction.
For more information on this and other
Superstorm Sandy related legislation, click
here.
In
its September 2013 U.S. Residential & Foreclosure Sales Report, RealtyTrac
Inc. reported that New York State residential properties sold at an estimated
annualized pace of 155,081 in September, up one percent from August and up 6
percent from the same time last year.The median sales price for New York
was $350,081 in September, up 7 percent from the previous month and up 17
percent from a year ago.
Click here to learn more.
Last
week marked the formal kick off to the NYSAR/Issues Mobilization Fund media
campaign in support of the Adirondack Club and Resort project in Tupper Lake. ADK
Works is a coalition of concerned Adirondack residents, business owners and
community organizations who rallied together to advocate for solutions that
lead to a speedy economic recovery and advance a simple, but important concept:
"The park works when people do."
Click here to learn more.
During
the Fall Business Meetings at Turning Stone, NYSAR’s Legislative Working Groups
voted to support Proposition #4 appearing on the November election ballot.
NYSAR has issued a formal statement in support for the ballot initiative and is
encouraging all REALTORS to vote "yes" for the amendment. The proposed amendment will give the Legislature the authority to settle
100-year-old disputes between the State and private parties over ownership of
certain parcels of land located within the forest preserve in Hamilton County.
Click here to view NYSAR’s statement in support. Click here to learn more.
In
a case stemming from the New York City mayoral race, the United States Court of
Appeals for the Second Circuit has issued a preliminary injunction blocking
enforcement of New York’s $150,000 annual contribution limit for individuals
contributing to independent political action committees.
Click here to learn more.
Gov. Andrew Cuomo signed a bill last week capping
agricultural land assessments at two percent annually. According to the New
York Farm Bureau, farmers pay approximately $26.21 per acre in property taxes,
which is $20 more than the national average. Governor Cuomo said the cap on
agricultural land assessments, along with the two-percent property tax cap
enacted in 2011, will help New York farmers and allow them to invest more money
in their farms.
The
Tuesday, November 12, NYSAR Radio show will cover agency issues, specifically
dual and designated agents. Tune in at 10 a.m. on
November 12 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.
Click here for more information as well as a
list of links to play NYSAR Radio from any of your mobile devices.
With
the changes resulting from the Affordable Care Act, NYSAR knows that
understanding your health insurance options is more confusing than ever before.
Fortunately, NYSAR Member Perks partner and insurance administrator USI
Affinity is here to help guide and support all NYSAR members towards making the
best health care decisions. Get your questions answered today by calling USI
Affinity at 888.834.3713.
REALTOR
Institute 402 – "Real Estate Legal Issues" – will be offered November 6-7 at
the Bronx-Manhattan North Association of REALTORS in Bronx, NY. This course
gives you a clear understanding of agency practice and policy issues, and
teaches you 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 403
– "Financing to Increase Homeownership" – will be offered November 13
at the Buffalo Niagara Association of REALTORS in Amherst, NY. This course shows you how to research products,
qualify buyers and explain the best financing options for your clients.
Click here for more information or to register.
Fulfill
your USPAP requirement and learn how to appraise "green" residences
during the conference at the Turning Stone Resort and Casino in Verona, NY.
Click
here for more information or to
register.
NYSAR’s exclusive partner for
errors and omissions insurance, Pearl Insurance offers you comprehensive and
affordable coverage customized to fit your needs. Their program, underwritten
by XL Insurance, includes innovative features such as: deductible reduction;
open house coverage; environmental failure to advise; innocent partner
protection; and public relations advisory services.
For more details or a customized quote, call 800.289.8170 or visit www.pearlinsurance.com/nysar.
TransUnion
SmartMove is an easy, comprehensive and reliable web-based tenant background
check offering access to a full credit report, criminal report, customized
leasing recommendations and suggested deposit amount to request at lease
signing. The trusted brand’s process is all online and you pay only when you
use it with no set-up, minimum or annual fees. Click here to learn more.
Thank
you to the Hudson Gateway Association of REALTORS for hosting an RPAC mixer last
week along with neighboring REALTORS in the Greenwich, CT area.
The social event was well attended by both
states and raised approximately $6,000 for RPAC. In addition, HGAR raised another $2,500 for RPAC during their agents’
day held this past week. Nice way to kick-off the 2014 RPAC fundraising
year HGAR!
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