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This press release originally appeared on realtor.org   WASHINGTON (June 21, 2016) — Commercial drone use in the real estate business got a boost today with the release of the Federal Aviation Administration's final rule governing small unmanned aerial systems, or UASs, in the national air space.   Drones are increasingly being used in commercial applications, but federal regulations have required commercial drone operators to apply for a "Section 333" waiver from the FAA before they can fly. Over 5,000 waivers were issued…

U.S. Sens. Bob Menendez and Cory Booker announced on June 13 that Newark and Trenton will receive millions in federal grants from the U.S. Department of Housing and Urban Development to reduce lead hazards in public housing and protect children and families from the health risks associated with exposure to high levels of lead.   “Under no circumstance should New Jersey families be forced to jeopardize their health or the health of their children due to dangerous levels of lead in their homes,” said Sen. Booker. "We already know…

Voters in New Jersey had the chance to have their voices heard in June 7's primary election. Despite early reports that Secretary Hillary Clinton had enough Super Delegates to be the presumptive Presidential nominee for the Democratic Party’s, it was the votes cast in New Jersey that put her over the top in the official delegate count. Secretary Clinton defeated Senator Bernie Sanders 63.3% to 36.7%. As expected, Donald Trump was victorious on the Republican side, winning 81% of the vote.     Around the state, all incumbent…

During the May Realtors® Legislative Meetings and Trade Expo, New Jersey Realtors® and its members met with members of Congress in Washington, D.C.   U.S. Senator Bob Menendez was among the Members of Congress that NJ Realtors® met with. The Senator was enthused to meet with Realtors® and gain firsthand knowledge and insight into issues affecting the New Jersey real estate market.   Realtor® members of New Jersey’s local boards/associations also participated in the hill visits by attending Congressional meetings with…

Last week, the Federal Open Market Committee —the group that sets the benchmark interest rate for bank lending —elected to hold steady and not increase federal funds rate. The current rate is set at between 0.25% and 0.5%, and will remain so, until at least the FOMC’s next meeting in June.   The FOMC noted that the labor market has “improved further” but economic activity growth has slowed.   “A range of recent indicators, including strong job gains, points to additional strengthening of the labor market,” the FOMC said in…

Vote: It is one of the best things you can do for your business. We talk often about the importance of the Realtor® voice and the power that a unified voice of 45,000 has on local, state, and national issues. One of the best ways for Realtors® to impact the political landscape is to vote. Currently, there are still more than 7,000 Realtors® in New Jersey who are not registered. While this is the minority — we can still do better. As Realtor®, it is your role to help protect the interests of the real estate industry.   If you're…

Each May, approximately 10,000 Realtors® from across the country attend the Realtor® Legislative Meetings & Trade Expo in Washington, D.C. The annual mid-year meeting is a great opportunity for members to take an active role in the real estate industry, learn about public policy and get to know the association better.   This years meetings run May 9 – 14, and Realtors® are encouraged to attend for special issues forums, committee meetings, legislative events, and the industry trade show.   Your volunteer leadership team…

On April 1, the National Flood Insurance Program began implementing additional flood insurance program changes resulting from reform legislation. These changes may significantly affect what your clients pay for their flood insurance. While some property owners may see minimal policy cost increases, others will experience larger premium increases—for example, clients with buildings in high-risk areas built before that community’s first Flood Insurance Rate Map.   Make yourself — and your clients — aware of the changes.  …

Last week the New Jersey Realtors® Leadership Team met with members and staff of the U.S. House of Representatives and U.S. Senate in Washington, D.C. to discuss urgent issues impacting real estate in New Jersey.   The Leadership Team focused on reminding Members of Congress about the importance of the Mortgage Interest Deduction and why its preservation and availability to NJ residents is crucial.   In addition, making sure Members of Congress understood just how important the secondary mortgage market is was a primary…

At its meeting on February 29, the New Jersey State Senate Budget and Appropriations Committee began the process of repealing the Estate Tax in New Jersey by passing S-1728. This bipartisan legislation phases out the New Jersey Estate Tax over a period of five years.   Under current laws, the Estate Tax takes effect when a home that is worth over $675,000 is inherited. If this legislation is enacted, the amount would be raised over five years until the tax is completely eliminated. The bill now must still be approved by the full…