The SALT deduction cap is quadrupled from $10,000 to $40,000 for households earning under $500,000. However, the bill does not eliminate the marriage penalty.
In April, existing-home sales in the Northeast fell 2.0% from March to an annual rate of 480,000, identical to April 2024.
Across several counties, April brought a surge of new interest, particularly in the Bronx, Rockland, and Putnam counties
The real estate industry has expressed concerns regarding the potential repercussions of the FARE Act.
Despite representing different parties, Latimer and Lawler share a bipartisan focus on housing policy solutions. Both have expressed support for raising the cap on the State and Local Tax (SALT) deduction.
Unfortunately, many small businesses, including most real estate brokerage firms, and real estate investment and holding companies, will not meet these criteria and will therefore be required to comply fully with the CTA’s filing requirements.
It is important for brokers and agents to note that where a similar form has been made available by both HGAR and NYSAR, those forms do contain varying provisions. Every broker must carefully review each form, and ultimately determine which they would like to utilize.
The opinion permits Dual Agency or Dual Agency with Designated Sales Agents if the seller has agreed to Advanced Informed Consent to Dual Agency and/or Advanced Informed Consent to Dual Agency with Designated Sales Agents by indicating the same and signing the agency disclosure form.
The fair housing complaint stems from a WRO investigation and subsequent complaint filed with DHR in 2021.
The TOD deed is non-testamentary, which means that the interest in the real property transfers automatically to the designated beneficiary named in the TOD deed by operation of law and no probate or administration proceeding is required.
The Government Affairs Department at HGAR will be facilitating the first ever New York City Lobby Day on Oct. 23rd. In collaboration with the Long Island Board of Realtors, both organizations will be converging on City Hall to speak to our City Council members about our issues.
According to the FBI’s 2023 Internet Crime Complaint Center Report, there were more than 101,068 complaints filed by individuals over 60 years old resulting in more than $3.4 billion in losses in 2023.
One requirement of the law mandating the use of written contracts for compensation will impact NYS brokers significantly.
OneKey has established that effective Aug. 8, 2024, they will no longer display any offers of cooperating compensation to any cooperating brokers.
A significant portion of our end-of-session efforts was focused on opposing legislative proposals that would have negatively impacted New York’s real estate sector.
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