Headlines

Consumers and Realtors® beware: There's a new hacking/phishing email scam that's hitting the real estate market, according to information issued recently by the Federal Trade Commission and the National Association of Realtors®.   This isn't your average run-of-the-mill email scam. This is a sophisticated scheme where hackers break into the email accounts of brokers, agents, attorneys, and title companies to gain information about their clients, including contact information and closing dates. Once obtained, they pose as the…

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.  …

The deadline to complete certification forms for Realtor Emeritus status is April 8, 2016. Applications will be approved at NAR’s May 2016 Realtors® Legislative Meetings & Trade Expo held in Washington, D.C. Certified Realtor® Emeritus members do not pay dues to the National Association and are exempt from the Quadrennial Ethics Training requirement, but please note, the dues waiver does not take effect until the following 'dues season'.   Applications are online and must be filled out by the Local Board/Association.  …

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…

By: G. M. Filisko House hunting is just like any other shopping expedition. If you identify exactly what you want and do some research, you’ll zoom in on the home you want at the best price. These eight tips will guide you through a smart homebuying process. 1. Know thyself. Understand the type of home that suits your personality. Do you prefer a new or existing home? A ranch or a multistory home? If you’re leaning toward a fixer-upper, are you truly handy, or will you need to budget for contractors?   2. Research before you…

Your credit score comes from several pieces of information about you, including whether you make payments on time and how much you spend.   Nowadays just about everyone, from landlords to lenders, judges you based on your credit score. In part because credit companies, like banks, have been so inundated during the past few years, far too many of us have mistakes buried deep within our credit reports.   If you happen to be one of those unlucky folks, mistakes made by the credit company may be costing you hard earned money…