Legislative leaders announced an agreement on a $138 billion 2014-15 State Budget that holds overall spending growth just below two percent. The budget includes a new property tax credit to provide relief to New York homeowners. The budget also creates a property tax "circuit breaker" for two years for homeowners and condominium owners in New York City. 

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In its February 2014 U.S. Residential & Foreclosure Sales Report, RealtyTrac Inc. reported that New York State residential properties sold at an estimated annualized pace of 150,510 in February, down 0.4 percent from January but up 6.5 percent from February 2013. 

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Sales of new single-family homes in the Northeast in February were down 32.4 percent to a seasonally adjusted rate of 23,000, according to the U.S. Commerce Department. January’s revised annual rate was 34,000. 

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The National Association of REALTORS’ REALTOR Magazine is seeking nominations for the 2014 Good Neighbor Awards. The program recognizes REALTORS whose extraordinary commitment to community service has helped make their communities better places to live. Five winners will receive a $10,000 grant for their community cause and travel to the 2014 REALTORS Conference and Expo in New Orleans. Five honorable mentions will receive $2,500 grants. 

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On March 20, New York City Mayor Bill de Blasio approved amendments to New York City’s existing "Paid Sick" Law, which was approved by the NYC Council originally in 2013. The legislation will require businesses in New York City with five or more employees to provide paid time off to its employees. It is important to note that the law does not apply to "independent contractors" as defined in New York State Labor Law.

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On March 24, six federal agencies issued a joint proposed rule to implement minimum requirements for state registration and supervision of appraisal management companies (AMCs). States will not be required to establish an AMC registration and supervision program, and there is no penalty imposed on a state that does not establish a regulatory structure for AMCs. However, an AMC will not be able to provide appraisal management services for federally related transactions in states that have not established a regulatory structure as laid out in the proposed rule. Participating states will have 36 months after the rule’s effective date to implement the minimum requirements. 

Click here for the text of the proposed rule.

The first quarter edition of NYSAR’s Legal Lines publication is now available online at NYSAR.com. This edition covers key issues including a New York State Supreme Court ruling on recovering commissions, and a broker violating the Human Rights Law. Federal cases include the overturning of an association’s arbitration decision, a review of accommodations for service animals in housing, and revised robocall rules. 

Click here to read the latest issue.

The Tuesday, April 8, NYSAR Radio show will cover fair housing in honor of April being Fair Housing Month. Tune in at 10 a.m. on April 8 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.

NYSAR’s first infographic, "It Pays to Work with a REALTOR," highlights the reasons why consumers benefit from working with a New York State REALTOR, from both the buyer and seller perspective. The infographic is available in jpeg and PDF formats and can be downloaded today on the Infographics page of NYSAR.com.

REALTOR Institute 401 – "Get it Listed...Get it Sold"– will be offered April 8-9 at the Best Western Plus University Inn in Canton, NY. This course teaches you new methods of marketing and how to integrate technology into your business to increase your listings, sales and profits. 

Click here for more information or to register.

REALTOR Institute 409 – "Equal and Ethical Service" – will be offered April 16-17 at the Greater Capital Association of REALTORS in Albany, 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.

Once again RPAC of NY will return to Citi Field to lend our support to the New York Mets. The event will be on Friday, April 25, and features a ticket to the game in the exclusive Party City Deck, located feet from the action in left field at field level. The Party City Deck offers bar stools and regular seats. Every ticket also includes complimentary food and beer service throughout the game! Contact Derick King, NYSAR political affairs coordinator, for complete details at dking@nysar.com or 518-463-0300 x238. 

Click here for a flyer with more information.

The Hudson Gateway Association of REALTORS will once again return to the renowned Culinary Institute of America for a gourmet lunch, this time at the American Bounty Restaurant, on Tuesday, April 8. Lunch service begins at 11:30 a.m. Following lunch at 2 p.m., there will be a tour of the historic institution located on the shores of the Hudson River in Hyde Park. The cost is a $99 RPAC investment. To register, contact Mary Prenon at Mary.Prenon@HGAR.com or 914-681-0833 x3022, or Christopher McKniff at Christopher.McKniff@HGAR.com or 914-681-0833 x3011.