In its August 2014 U.S. Residential & Foreclosure Sales Report, RealtyTrac Inc. reported that New York State residential properties sold at an estimated annualized pace of 148,615 in August. This is 0.62 percent above July’s total and 9.6 percent below August 2013. The median sales price for New York was $316,000 in August, remaining level with the previous month, but up 5 percent from a year ago. 

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The 2014 NYSAR Fall Business Meetings kicked off Sunday at the Turning Stone Resort & Casino in Verona. During yesterday’s General Session, NYSAR President JP Endres gave the State of the Association address and attendees heard from NAR Director of Housing Statistics Danielle Hale about the housing needs of Millennials and how they will likely effect the housing market in coming years. The first-ever NYSAR Community Service Award winners were recognized and Rick Rielly of Rhinebeck, NY was named the 2014 REALTOR of the Year.

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The Environmental Protection Agency (EPA) and the U.S. Army Corps of Engineers have issued a proposed rulemaking that redefines most water bodies as "waters of the U.S.," which is a fundamental change to the Clean Water Act. If promulgated, this proposed regulation would place more water bodies under the authority of the EPA and the Corps, which would result in more time consuming and expensive permits, regulatory red tape, and less economic development in communities across the country.
 
It is critical that officials at the EPA and the Corps hear from stakeholders who will be impacted by this rule. Click here to download the template of a letter that describes how this proposed rule would negatively affect small businesses and economic development across the country. There is also a place in the letter for you to describe how this rule could impact your business or clients. Click here for more information.

A state Supreme Court judge has rejected a challenge to the state’s property tax cap brought by the state teachers’ union. Justice Patrick McGrath rejected every claim filed by the New York State United Teachers Union, which argued that the state property tax cap enacted in 2011 creates educational inequality, treats voters unfairly, and impedes their rights to due process and expression. 

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Last week, the Fiscal Policy Institute released a report recommending that Mayor Bill de Blasio's administration levy a tax on very expensive pied-a-terres. Under the proposal the city would levy a graduated tax on pied-a-terres worth at least $5 million. The first $5 million in market value would not be subject to the tax, rather the tax would start at 0.5 percent for the first $1 million in value more than $5 million and rise gradually up to 4 percent on non-primary resident owned condos and coops valued at more than $25 million. According to the Fiscal Policy report, this tax could raise $665 million a year for the city.

The proposal would need to be approved by the state Legislature.

The Tuesday, October 7, NYSAR Radio show will cover common multiple listing service (MLS) issues. Tune in at 10 a.m. on October 7 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.

Two New York State Association of REALTORS members are finalists for the National Association of REALTORS’ Good Neighbor Awards! Help Robert Fitzsimmons, Staten Island, NY and Dorothy Gokey, Clinton, NY get the recognition they deserve for their good works, and help them win a grant to advance their efforts. Voting closes at the end of the day today, September 30. Click here to vote.

The Seller Representative Specialist (SRS) course will be offered October 6-7 at the Hudson Gateway Association of REALTORS in White Plains, NY. This course provided the skills, training and resources you need to represent the interests of sellers in today’s marketplace.

Click here for more information or to register.

REALTOR Institute 407 – "Building Your Real Estate Practice" – will be offered October 9 at the Columbia Greene Board of REALTORS in Hudson, NY. This course will cover business plans, recordkeeping and tax considerations for independent contractors, and managing priorities. This course also covers fiduciary duties, the latest negotiating strategies and enhancing your services.

Click here for more information or to register.

REO Properties: Responsibilities, Education and Opportunities for Real Estate Professionals will be offered October 9 at the Greater Capital Association of REALTORS in Albany, NY. This course covers the basics of working with sellers and buyers of REO properties.

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NYSAR’s insurance plan administrator, USI Affinity, offers you access to more than 15 top-rated insurance providers and dedicated consultants who will do the legwork for you. Plus, by bundling your auto and homeowners insurance, you can save up to 30 percent a year.

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Your NYSAR membership gives you an extra 10-percent discount at NAR's REALTOR.org store. Shop the store and take advantage of exclusive savings on NAR's entire line of products and publications including books, brochures, DVDs, research reports and more. To redeem your 10-percent discount, visit http://www.realtor.org/store and simply enter member code "NYSAR2" at checkout.

As a reminder, NYSAR must receive all RPAC investments from local boards by Friday, October 3, to be counted toward the 2014 RPAC fundraising year. Please be sure to pass along any last minute RPAC proceeds to NYSAR Government Affairs by the deadline! To date, RPAC of NY has reached 85 percent toward our fundraising goal of $696,900. If you haven’t invested in RPAC this year, please consider investing your fair share by contacting NYSAR’s Government Affairs Department at 518-463-0300 x238 today. Thank you for your support of RPAC.