Mandatory Code of Ethics training (formerly known as the Quadrennial Code of Ethics training) must be completed by Dec. 31 of this year. Please remind your members that failure to complete the training by Dec. 31 will result in the suspension of their membership on Jan. 1, 2017 until the requirement is met. Any member who has not met the requirement by March 1, 2017 will be automatically terminated. There is also a penalty for boards and associations that fail or refuse to enforce the ethics training requirements. Learn more here
. Register for the 2017 NAR AE Institute in Denver, CO to be held March 17-20
The 2017 AE Institute will be held March 17-20, 2017, in Denver, CO, at the Sheraton Denver. Registration opens on Wednesday, Dec. 7, and all registrations must be done online. Register before January 31 to save $30 on Institute tuition. Registration is $545 before January 31 and $575 after that date. Click here
for more information. Report your local board/association 2016 REALTOR of the Year
The deadline for reporting is Friday, Dec. 30. For the Local Board/Association REALTOR of the Year reporting form, click here
Contact NYSAR Vice President of Board and Member Services Patrick Reilly at 518-463-0300 or email at firstname.lastname@example.org
with questions. Encourage your members to apply for an education scholarship by Dec. 31
Earning a National Association of REALTORS designation can give your members a competitive edge over their peers, but designation courses are often more costly than some other continuing education course options. The New York State Real Estate Education Foundation (NYSREEF) can help.
Scholarships are awarded twice a year at the semi-annual business meetings of the New York State Association of REALTORS. The application process is simple, but the deadline for a February 2017 scholarship award is Dec. 31, so encourage your members to apply today.
Any REALTOR who has been actively involved in real estate and licensed in New York for at least one year is eligible to apply for one of the designation program scholarships. Applicants must hold primary REALTOR membership in New York State, demonstrate a drive to continue their education, show positive results with consistent growth, and prove their interest in furthering their career in real estate.
Scholarship winners will be announced at NYSAR’s Mid-Winter Business Meetings. Encourage your members to visit www.nysreef.org
where they’ll find the eligibility requirements and the one-page application. HGAR and MANAR merger approved
The merger of the Hudson Gateway Association of REALTORS and the Manhattan Association of REALTORS has been approved by both the New York State Attorney General’s office as well as the New York State Department of State, and is now considered final by the State of New York. NAR releases 2017 REALTOR Party Resource Guide
The REALTOR Party Resource Guide provides information on more than 80 grants, educational opportunities, member engagement, political fundraising resources and other tools—all designed to help take your advocacy and community outreach efforts to the next level. Some guidelines and applications have changed for 2017. If you have any questions, please contact Government Affairs Coordinator Jared Burns at email@example.com
or 518-463-0300 ext. 235. Click here
for more details. Federal Reserve raises rates for first time in 2016, anticipates increases in 2017
Last week, the Federal Reserve said it would raise its benchmark short-term interest rate for the first time in a year and expects to lift it faster than previously projected in 2017. Officials said they would increase the federal interest rate by a quarter percentage point to between 0.5 and 0.75 percent, a move that could cause other household and business borrowing costs to rise as well. Click here
for the full story. FHFA increases loan limits for first time since 2006
The Federal Housing Finance Agency recently announced that it is increasing the loan limit from $417,000 to $424,100 for single-family homes in 2017. For the last 10 years across most of the country, the Fannie Mae and Freddie Mac loan limit remained at $417,000 for single-family homes. The baseline loan limit of $417,000 was determined by the 2008 Housing and Economic Recovery Act and couldn’t be increased until home prices returned to pre-decline levels. Click here
for the full article. Governor Cuomo awards more than $700 million for economic development
Gov. Andrew Cuomo recently awarded more than $700 million in economic development aid to communities across New York State. Annually, the Regional Economic Development Council (REDC) awards varying amounts of state aid to 10 different areas of the state. The Mid-Hudson region brought home the most this year with $83.3 million, followed by the Capital Region with $83.1 million and the Mohawk Valley region with $81.9 million. Click here
for the full article and here
for the governor’s press release. NYSAR meets with NYS Association of Counties to advance NY First Home
Recently, NYSAR staff met with the New York State Conference of Mayors to discuss the NY First Home proposal. The program would allow individuals and couples to put aside money in a special savings account to be used only for upfront costs associated with purchasing a first home in New York State. This will continue to be one of NYSAR’s legislative priorities in 2017. Click here
to visit the New York First Home website and to send an electronic letter to your state legislator urging their support for the NY First Home proposal. Encourage your members to take part in NYSAR’s Step Up, Stand Out challenge!
NYSAR is looking for your members’ help recruiting new faces to take part in NYSAR’s committees. They can accept our challenge today by signing up to be a recruiter, either on their own or they can team up with NYSAR friends. They can invite their fellow members who they think would benefit from taking their membership to the next level by submitting their names using our online form.
When they enroll as a recruiter between now and Dec. 31, they will be entered into a drawing to win two tickets to NYSAR’s 2017 Inaugural Dinner and Installation of Officers. For every member they submit, they’ll receive one additional entry. Plus, for each recruit they invite who attends the 2017 Mid-Winter Business Meetings, they’ll receive an entry into a drawing to win a $500 credit toward their stay at the Turning Stone Resort & Casino for the 2017 Fall Business Meetings.
They can visit stepup.nysar.com
to sign up as a recruiter, submit recruits and find a helpful recruiter toolkit. Shop to support the NYSAR Housing Opportunities Foundation
Planning to shop on Amazon this holiday season? Remember to shop at smile.amazon.com
and support the NYSAR Housing Opportunities Foundation. When you shop at smile.amazon.com
, you’ll find the exact same low prices, vast selection and convenient shopping experience as Amazon.com, with the added bonus that Amazon will donate a portion of the purchase price to your favorite charitable organization. Just search for NYSAR Housing Opportunities Foundation in the search bar, select the organization and shop! All donations go directly to the First-time Homebuyer Grant Program that awards $2,000 grants to low-to-moderate income families/individuals helping them to defray the costs involved in closing on a home.