Although Realtors and all Licensees are cautioned against practicing law without a license (which includes the giving of legal advice), they are permitted however to give up-to-date and accurate legal information. As such, this article will address the requisite forms currently required for landlords in New York at the time of the execution of a…
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The commercial real estate lending market came off of a record year in 2017, as mortgage originations totaled $530 billion. Fundamentally, rates, property values, credit policies and demand support the continuing strength of the CRE market. Technically, a large block of maturing CMBS loans will leave many CRE owners attempting to sell should they be…
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On Monday, July 9, a Town Board Work Session and presentation was scheduled on a large project proposed for Southeast. The proposal by Northeast Logistics, a refrigerated trucking company out of Oregon, involves more than 1.1 million square feet of warehouse/distribution space in four separate buildings. The project is located on Pugsley Road off Route…
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Co-op fair housing legislation is critical to ensuring affordable and available housing to everyone including those designated as a protected class under federal, state and local fair housing law. HGAR was successful in lobbying to have a law passed in Rockland County that requires a 45-day time period in which a board must accept or…
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A few weeks ago I attended the Realtors Legislative Meetings in Washington, DC. I must confess that while I’ve been to nearly every National Association of Realtors’ Convention held every November, this was my first time at the legislative meetings, which are held each May. If your time and budget permit, it’s really a great…
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In many of her articles for Real Estate In-Depth last year, past President Dorothy Botsoe referenced the fact that “we are the world.” I think there is tremendous positive energy in that phrase, reflecting our diversity and the fact that our proximity to New York City creates opportunities to work with buyers and sellers from…
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Net neutrality is critical to the real estate industry. Realtors deal with various online platforms 24/7. Net neutrality is shorthand for the concept that Internet users should be in control of what content they view and what applications they use on the Internet. More specifically, net neutrality requires that broadband networks be free of restrictions…
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A recent letter to the editor in a local newspaper regarding the proposed “Internet Fairness Conformity Tax” stated there are opposing views on this act here within our county. I see this act as an opportunity to level the playing field for smaller “Main Street” businesses. While obviously we all agree that taxes are out…
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The National Flood Insurance Program expires on July 31st of this year. Congressional action is needed. We thank the House for passing H.R. 2874, the 21st Century Flood Reform Act that would comprehensively reform and reauthorize the National Flood Insurance Program for five years. We urge the Senate to take up H.R. 2874 to avoid…
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When I became president of the Hudson Gateway Association of Realtors in January one of my goals was to expand member participation and to personally express my gratitude to individuals who raise the bar in their commitment to association activities. One way that I’ve done this is by establishing a WOW! Award. The award recipient…
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For those of you who diligently read Real Estate In-Depth, as well as the weekly email updates we provide to all HGAR members, you know that there is a lot going on with the organization. I must confess that sometimes I feel that I’m constantly juggling meetings, appointments, phone calls, strategy sessions, e-mails, texts, and…
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The New York Department of State Regulation Section 175.25 (a)(2) defines a real estate team in this way: “ 'Team’ means two or more persons, one of whom must be an associate real estate broker or real estate salesperson, associated with the same real estate brokerage who holds themselves out or operate as a team.”…
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HGAR leadership and staff will once again be attending the annual NAR Legislative Meetings (May 15-18) to take an active role in advancing legislation and influencing public policy that affects the real estate industry. This year there are four major issues on the agenda. The first of these issues is net neutrality. HGAR and NAR…
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This past April 15th was the annual Putnam County Chamber of Commerce Elected Officials Forum. Each year town/village, county, state and federal level officials are invited to discuss the overall business climate, economic development and our legislative priorities for the upcoming year. Some very honest conversations took place. Cost of permitting and development in area…
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Some New York State real estate brokers also happen to be attorneys-at-law. These members should refrain from performing both roles simultaneously for a real estate client. A 2017 decision from the New York State Bar Association’s Committee on Professional Ethics reaffirmed the traditional prohibition on this practice. Opinion 1117 issued last April states that a…
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Lobby Day has always been one of the most important days of the year. For nearly 20 years I’ve participated in nearly every one, and this year's event was one of the best ever. I have to admit that arriving in White Plains to catch a bus at 6 a.m. has never really appealed to…
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In February of this year I wrote about our discussions with the Multiple Listing Service of Long Island to create a regional MLS covering New York City and the greater suburban area. I’m happy to report that those discussions continue to move forward in a very positive direction. I’m also very pleased to advise that…
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Last week the town of Carmel purchased a lakefront lot on Lake Mahopac, an opportunity that could not be passed up and perhaps should have been undertaken a long time ago. Many feel the town made a hasty decision and over paid. According to Nicole Stern, Mike Barile purchased the property 20 years ago for…
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The property tax cap has been a good starting point for reigning in the cost of tax increases every year on homeowners, but this is simply no longer enough. Property taxes continue to go up, albeit at a controlled rate. One means a municipality may use to increase revenue is to artificially raise assessments to…
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Insurance Regulation 208, which can be found at 11 NYCRR 228, was made effective on Dec. 18, 2017. This regulation, passed by the New York Department of Financial Services was finalized pursuant to certain consumer complaints regarding the title insurance industry. Since the regulation became effective, customary marketing and business prospecting tools that many title…
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