Member News
February 4, 2022



Local

NJ Spotlight News: Warehouse Boom Continues to Drive up Rents, Cut Vacancies  The Wild West market prompts calls for oversight to curb runaway development. A developer on the edge of West Windsor Township in Mercer County wants to build nine warehouses totaling 5.5 million square feet on a 650-acre parcel bounded by a county road near an elementary school.  Read more. 

DailyVoice.com: New Owners Of Hunterdon County Bowling Property Intend To Keep Alley Open West Hunterdon Lanes on Route 12 in Frenchtown first stated in a January 8 Facebook post that the alley would close on April 30 and that the new owners’ plans were unclear. Read more.

Somerset County: A Houston-Based Medical Supply Company Wants to Move Headquarters and Plant to Branchburg A medical supply company with $150 million in annual revenue wants to move its corporate headquarters and packaging facility to the Route 22 site of The Golf Range at Branchburg. Read more.

Webinars
  • 
"Keys to Homeownership" Virtual Seminar New Jersey Realtors wants to help first-time buyers achieve the dream of homeownership. Promote this free "Keys to Homeownership" virtual seminar to your clients. When they join they are automatically entered to win a $250 gift card! Wednesday, February 9 at 6:30 pm. Register here.

Bright MLS Webinar on Compliance This free webinar will cover Bright MLS rules and policies that help ensure access to the most accurate property data possible, and help subscribers navigate these rules and policies to avoid compliance notifications and related fines. Free. Tuesday, March 1 at 10 am via Zoom. Register here. Topics that will be covered, include:
  • Accuracy Matters – Top Policy Q&A
  • Delinquent Dates
  • Net Compensation
  • Clear Cooperation Policy (Off-MLS)
  • Status Review
  • Branding Rules
  • Q & A
  • 

SUPRA

SUPRA is now offering live Zoom trainings specifically for agents! Check out CORE's calendar to register for upcoming classes here.

CORE has reciprocity with most SUPRA providers in NJ, meaning you don't always need to pay for another key to get access. See a list of CORE's reciprocities here and activate yours today!


New Jersey
Have You Checked Out NJ Realtors Legal Library? Browse previously asked questions or post a question of your own—you'll be notified once a response is posted in the library. To view or post, click here. Here's an example of a recent post: Are Rental "Love Letters" a Fair Housing Violation to the Tenants? Question: We recently saw a rental listing, and the application stated, "Letter to Landlord - write a letter introducing yourself and your family. This is used to get to know your clients more personally rather than using just an application and credit. Let us see your client through his eyes." Would this be a possible fair housing discrimination violation for a tenant, not just a buyer? (Asked on January 24, 2022) Answer: The Fair Housing Act and the New Jersey Law Against Discrimination apply to leases in the same way they apply to sales transactions. For more information, please review the following question and answer on Buyer "Love Letters" here. (Posted on January 25, 2022) 
NJ Spotlight News: Business Report – New Jersey Home Price Surge The 2021 real estate market ended on a high note with the median sales price reaching $435,000 and homes lasting just 36 days on the market. View video to the left.



NJ Spotlight News: Boosting Property-Tax Relief for NJ Renters The affordability initiative could pay dividends to renters statewide, as well as homeowners and businesses. Read more.
NJ.gov: Four Things You Should Know About Redistricting
  • Every 10 years the U.S. redraws the country's election district map based on results from the U.S. Census.
  • There are 435 seats in the U.S. House of Representatives and Congress divides the seats based on state population. NJ currently has 12 seats.
  • With slim margins between parties, redistricting could determine which party has Congressional control.
  • Each state has its own redistricting process based on the state's constitution. Learn more here. 


National
NAR: REX-Real Estate Exchange Makes False, Misleading Claims to Deceive Consumers The National Association of Realtors has filed a lawsuit to require REX to cease deceptive practices. Read more. 

NAR: Young Adults Are Returning to Their Family's Homes, But For How Long? In 2020, the percentage of young adults aged 25 to 34 living at home grew to the highest share recorded since 1960 with 17.8 percent. In 2021, the percentage of young adults living at home reduced to 17 percent still the second-highest share recorded. Read more.

ShowingTime: Is it a Buyer's or Seller's Market? ShowingTime can help you determine whether your market currently favors buyers or sellers. Read how here. 
NAR Calls on Realtors Who Give Back to Apply for the 2022 Good Neighbor Awards Applications are now open for the 2022 Good Neighbor Awards. Five winners will each receive a $10,000 grant for their nonprofit organization. Apply now or share with a Realtor that gives back to their community. Learn more.

Home Inspection Trends Mirror Real Estate Teams Model The home inspection industry is going through a similar metamorphosis as the real estate industry with inspectors teaming up much like real estate teams do. Read more.





FEMA: National Flood Insurance Program
Quick Resources
 General Information on the NFIP