Majority Leader Eric Cantor (R-VA) announced that the House will take up a "modified version" of the Senate bill S. 1926 during the week of February 24.  The proposal will likely eliminate the Senate’s language that would delay rate hikes under the National Flood Insurance Program for up to four years.  Instead, the House version is expected to stipulate that the program cannot increase premiums by more than 15 percent each year on any property, even if a property has been sold or its flood insurance policy lapses. House leaders also want to make those changes apply retroactively so that property owners who have seen a sudden spike to full-risk rates will get a refund. Legislative text and additional details will be available at a later date.

NYSAR 2014 President JP Endres, President-elect Mike Smith and Secretary/Treasurer Linda Bonarelli Lugo took the oath of office last week during the Mid-Winter Business Meetings. In addition, attendees heard from 2014 NAR President Steve Brown and keynote speaker Alex Sheen from "Because I Said I Would;" The 2013 RPAC awards were also presented.

In its U.S. Foreclosures Market Report for January 2014, RealtyTrac Inc. reported New York State had 3,827 total foreclosures, a 13.66-percent increase from December 2013 and a 31.11-percent increase from the same time last year. 

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As part of the NYSAR Mid-Winter Business Meetings at the Desmond Hotel and Conference Center in Albany, NY, NYSAR’s legislative working groups and committees met to discuss and vote on several important issues. The business meetings provided direction and guidance with respect to upcoming legislative issues and RPAC. 

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New York State Attorney General Eric Schneiderman is expected to release legislation that will put lenders in charge of the maintenance and repair of abandoned properties. So-called "zombie properties" are homes throughout New York that have been abandoned by their owners before banks have finished the foreclosure process. According to Schneiderman’s office, he hopes his legislation will force banks to take responsibility for zombie properties soon after they are abandoned by requiring a registry and centralized database of abandoned homes and compelling lenders to pay for their upkeep. 

 

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Today’s NYSAR Radio show will take a look at recent court and New York State Department of State decisions. Tune in at 10 a.m. this morning 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.

Thanks to all of you who participated in and volunteered at the NYSAR Blood Drive held in conjunction with the NYSAR Mid-Winter Business Meetings. The blood drive was a great success! We exceeded our donation goal set by the American Red Cross. Twenty-five units of blood were collected to potentially save 75 lives! We hope to make this an annual event that more REALTORS will participate in. 

Gain a full understanding of ethics and arbitration hearings, enforcement procedures and disciplinary guidelines during the 2014 Code of Ethics and Professional Standards Procedures Training on February 28 in Lake Placid. The Code of Ethics and recent changes adopted by NAR’s Board of Directors and Delegate Body will also be covered. In addition to 6 hours of CE credit, this course also satisfies NAR’s mandatory ethics training requirement. Click here for the registration form. 

NYSAR has partnered with the Asian Real Estate Association of America (AREAA) to offer NYSAR members discounted pricing to the upcoming 2014 AREAA Global & Luxury Summit. This event, set for April 12 to 15 at the Waldorf Astoria Hotel in New York City, will bring together international investors with housing and real estate leaders to discuss important issues facing the U.S. real estate market and growing global investment opportunities. The discounted rate of $399 ($200 savings) is available until February 28. Register today at summit.areaa.org and enter offer code "NYSAR2014A" to receive the discounted rate. Click here to view a promotional flyer.

REALTOR Institute 409 – "Equal and Ethical Service" – will be offered March 3-4 at the Mohawk Valley Association of REALTORS in Utica, NY. This course fulfills the Code of Ethics training requirement for REALTOR membership and the fair housing training requirement for NYS license renewal.

Click here for more information or to register. 

New York REALTORS raised a record $25,000 during the RPAC VIP Lounge held during the NYSAR Mid-Winter Business Meetings last week at the Desmond Hotel. Thank you to the 100 REALTORS who each invested $250 to enjoy the amenities of the RPAC lounge including the deluxe breakfast and lunch spreads, manicure, massage, professional photographer and more. Our fundraising and attendance totals jumped more than 20 percent from last year!