In its U.S. Foreclosure Market Report for October 2014, RealtyTrac Inc. reported that New York State had 4,196 total foreclosures, a 3.21-percent decrease from September, but a 12.16-percent increase from October 2013. New York State ranks 29 out of all 50 states for monthly total foreclosure filings. One in every 1,931 housing units in New York State received a foreclosure filing in October.  

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Firming home prices in markets across the country contributed to a slight dip in nationwide housing affordability in the third quarter of 2014, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index. Syracuse, NY was again among other major U.S. housing markets at the top of the affordability chart for the third quarter. New York-White Plains-Wayne, NY-NJ ranked near the bottom of the affordability chart.

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The National Association of REALTORS has launched a nationwide Call for Action on "The Mortgage Forgiveness Tax Relief Act." This bill would extend an expired provision that has helped millions of distressed American families by allowing tax relief for homeowners when lenders forgive some portion of the mortgage debt they owe. The provision expired last December 31 and it is imperative to get it extended before impacted homeowners have to file their 2014 income tax. The Call for Action asks all REALTORS to contact their member of Congress and United States senators and urge an immediate vote as the "Lame Duck" session begins this week. 

Click here to take action now!

On Tuesday, November 18, at 2 p.m., the Consumer Financial Protection Bureau (CFPB) and the Federal Reserve will holdtheir fourth webinar on changes to the Real Estate Settlement Procedures Act (RESPA) and the Truth in Lending Act (TILA). This webinar will focus on the closing disclosure that will replace the HUD-1 settlement statement. The rule takes effect August 1, 2015. 

Click here to register for the webinar.

On December 3, 2014, a new law requiring that the presence of, and maintenance of, residential sprinkler systems be disclosed on all residential leases in New York. The text of the new law can be found in Real Property Law §231-A. Section 1 of the law requires every residential lease to contain a "conspicuous notice in bold face type as to the existence or non-existence of a maintained and operative sprinkler system in the leased premises." Section 3 of the law further requires that "if there is a maintained and operative sprinkler system in the leased premises, the residential lease agreement shall provide further notice as to the last date of maintenance and inspection." Since there is no exception for proprietary leases in a cooperative, they, too, fall under the requirement. 

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The Tuesday, December 16, NYSAR Radio show will recap 2014 and take a look at what’s ahead for 2015. Tune in at 10 a.m. on December 16 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.

The Seniors Real Estate Specialist (SRES) course will be offered November 20-21 at the Greater Binghamton Association of REALTORS in Johnson City, NY. This course helps you develop the business-building skills and resources for specialization in the senior market by: expanding your knowledge of how life stages impact real estate choices; connecting you to a network of resources; and fostering empathy. 

Click here for more information or to register.

The At Home With Diversity (AHWD) course will be offered November 20 at the Hudson Gateway Association of REALTORS in West Nyack, NY. This course will teach you how to research the demographic make-up of your local market; gain an understanding of the needs of your constituencies; and provide equal and ethical services to meet or exceed expectations of your customers and clients. This course satisfies the New York State license renewal requirement for Fair Housing training.

Click here for more information or to register.

The Resort and Second-home Property Specialist (RSPS) course will be offered December 2 at the High Peaks Resort in Lake Placid, NY. This course gives you the knowledge and skills you need to specialize in: buying, selling or managing second homes in a resort, recreational and/or vacation destination; and properties for investment, development or retirement.

Click here for more information or to register.

Take advantage of NYSAR Member Perks partner Taxbot to keep more of your commissions through tax deductions! The Taxbot mobile app offers you the ability to track business mileage and expenses with your iPhone or Android smartphone or tablet, and turn those expenses into IRS compliant tax deductions. Click here to learn more. 

Also, don’t forget to register for the November tax tips webinar provided by NYSAR and Taxbot this Thursday, November 20, at 2:30 p.m. Learn how to pay the least amount of taxes possible next year by doing a few simple things today. To register, click here.

Enrollment for health insurance in 2015 is now open. It will close on February 15, 2015. Look to NYSAR Member Perks partner USI Affinity to help you navigate the plan options and find the coverage that best suits your needs. Remember, you will face tax penalties if you do not obtain coverage. Also, if you miss open enrollment, you will not be able to obtain health insurance until the next open enrollment period unless you qualify for a special enrollment. For more information, visit www.myrealtorinsurance.com/nysar.

The Polaroid OneStep camera offers signature instant images, features focus-free simplicity and an automatic flash. It also offers a selectable close-up lens for shots between two and four feet. Starter pack of glossy color film is included! Bidding closes on Monday, December 1.

Click here to learn more.

When in Atlantic City, do as the high rollers do and enjoy all of the city’s pleasures in one location: the RPAC High Rollers Suite on Wednesday, December 10, 2014.
Where: Atlantic City Convention Center, Room 308/309
Cost: $250 RPAC investment (to be applied to 2015 RPAC year)
Amenities include: shoe shine; manicures; massages; professional photographs; gaming lessons by one of Atlantic City’s renowned card dealers; business facilities; hot lunch; beverages; and a deluxe coffee barista!

To register today, contact NYSAR’s Political Affairs Coordinator Derick King at 518-463-0300 x238 or complete the registration form and return to NYSAR via fax 518-462-5474 or email to dking@nysar.com.