Member News: NAR Realtors Confidence Index; NJ Emergency Rescue Mortgage Assistance; NJR Circle of Excellence; Feds Seek to Enlist Real Estate Agents, and More…

Member News

January 26, 2022

CORE

A Few Days Left for 2022 Realtor Dues Renewals Deadline To pay your dues, click on the following to go to CORE's membership system. An instructional video on how to pay your dues online can be found here. Written instructions on how to pay your dues online can be found here.

All dues payments were due by December 31, 2021. Dues must be paid by January 31, 2022, to avoid a late fee.
To pay your dues now, click here. Note: your portal username is your NRDS number, and your default password is your last name - all lower case. You do not need to reset your password.
If you have any problems or concerns, please email info@core-realtors.com.
To view a message about the value of your Realtor dues, click here.

2021 NJ Realtors Circle of Excellence: The CORE Circle of Excellence Verification Task Force has officially notified all CORE applicants of the results of the verification process. These results were emailed on January 20, and came from ashlee@core-realtors.com on behalf of the Task Force Chair. Please check your spam folder if you haven’t received yours. NJ Realtors will be emailing all recipients the 2021 advertising package on February 1 – the earliest date recipients may advertise their achievement. Congratulations to all the winners on a highly successful year!

Our Condolences We are saddened to announce that CORE member Gregory W. Schmidt, 62, with RE/MAX Premier in Warren, NJ passed away Monday, January 17, 2022. The viewing will be held January 28, 2022. There will be no funeral service. We offer our condolences to his family, friends, and colleagues. For more information, click here.

Save the Date CORE will be holding the At Home With Diversity (AHWD) Certification course for our members virtually on April 11 during Fair Housing Month, providing CE credit for both NJ and PA. This certification course, taught by nationally-known Isabelle Perkins, is an educational experience designed to present a picture of the changing face of the real estate industry. More importantly, the class teaches Realtors how to work effectively with - and within - a rapidly changing multicultural market. Diversifying your clientele means learning the practical skills and tools to expand business and effectively service all cultural groups. More details to follow soon.

ShowingTime: Market Stats Monthly Report The 2021 housing market was one for the history books. According to the National Association of Realtors, after three consecutive months of increases recently, existing home sales are on pace to hit their highest level in 15 years, with an estimated 6 million homes sold in 2021. Sales prices reached new heights, inventory hit rock bottom, and homes sold in record time, often well above the asking price. Mortgage rates, which began the year at historic lows, remain attractive, and homeowners who choose to sell in the coming months can expect to see plenty of buyer activity due to pent-up demand during the pandemic. Read more.

Visits to CORE Offices During the continued surge of Covid-19 and its variants, while CORE’s offices remain staffed, we are meeting with any visitors by appointment only and providing contactless pick-up whenever possible. Masks are also required when visiting CORE offices, regardless of vaccination status. To make an appointment, email info@core-realtors.com. We wish our members and other stakeholders good health and look forward to serving you!

Local

Developers Denied Warehouse Plan File Lawsuit Against Hamilton A plan to build a warehouse in a residential area of Hamilton that the Hamilton Township Planning Board denied in 2021 is heading to court. In a move that Kuser Road Developments called unlawful, the proposed warehouse was denied in September 2021 by the Board in a unanimous vote. The proposed 64,417 square feet mega-warehouse would have been built at... Read more.

Green Brook Flood Control Project The Somerset County Board of County Commissioners gave their full support for completing of the Green Brook Flood Control Project following a $496 million federal allocation secured by New Jersey’s Congressional delegation. The unprecedented allocation will fund the completion of the “Lower Basin” and “Stony Brook” portions to mitigate future flooding as climate change increases the frequency and severity of storms. Read more.

Continuing Education

What's Under the Dome? A Legislative Update on the Issues Impacting New Jersey Real Estate After attending this online course, participants will be able to identify and discuss current legislation affecting the real estate industry. Thursday, February 17, from 1 – 2 pm. CE Credit: 1 Elective Credit; Cost: $5 for members, $15 for non-members; Register here. The following topics will be covered by NJ Realtors Director of RPAC and Regulatory Affairs Bruce Shapiro:

New Jersey State Budget
New Lead Paint Inspection Law
Consumer Fraud Law Update
Limited Liability Companies
Independent Contractors
Daniel’s Law

Webinars

NAR Center for Financial Wellness: 2022 Tax Summit For Realtors, managing tax documents, understanding complex returns, and constant tax law changes make preparing a tax return a tedious process. Set yourself up for success come tax time as you plan for the future. Learn more about this four-part series virtual event here.

Tax Considerations for Newly Self-Employed Wednesday, February 2, 2 - 3 pm.
What to Do If You’ve Got IRS Trouble Wednesday, February 9, 2 - 3 pm.
2022 Small Business Advanced Tax Update Wednesday, February 16, 2 -3 pm.
Your Financial Golden Years Wednesday, February 23, 2 - 3 pm.

You’ll learn how to improve personal wealth by spotting opportunities in your tax return, what to do if the IRS comes knocking, and more. Space is limited. Register here.

Bright MLS Webinar on Compliance This 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. Monday, February 7 at 11 am. 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

NJ Division of Civil Rights: Fair Chance on Housing Act If you missed this virtual program Fair Chance on Housing Act on January 12, you can view the recording here. This program provided important information around the Fair Chance in Housing Act while highlighting the important changes in eliminating discrimination and bias in housing. Learn more about the Fair Chance on Housing Act here.

NJ Emergency Rescue Mortgage Assistance Program (ERMA) On February 8, the New Jersey Housing and Mortgage Finance Agency will open registration on a new Emergency Mortgage Assistance Program - made possible through American Rescue Plan funding. For more information, visit njhousing.gov or call (855) 647-7700.

ERMA offers up to $35,000 for eligible NJ homeowners facing foreclosure and displacement.
Applications portal opens Tuesday, February 8, at njerma.com
Free housing counseling is available at njhousing.gov
For additional info, call (855) 647-7700 or HAFservicing@njhmfa.gov

NorthJersey.com: NJ Minimum Wage Increases to $13 an Hour For Many Workers, But These Are the Exceptions Workers earning minimum wage in New Jersey will see a dollar-per-hour raise, as the statewide minimum wage increased from $12 to $13 an hour on January 1. Read more.

NJ Realtors: Brand-New Feature from Member Perks Partner iStaging Create traditional, 3D, augmented reality, and virtual reality home tours for your potential buyers with iStaging, a NJ Realtors Member Perks Partner. Users can add an extra flair to their home tours with iStaging's new ability to incorporate GIFs. Click here to get started with iStaging and learn more about virtual reality home tours.

NJ.com: Coastal Towns Go to Court Seeking More Input on Offshore Wind A new lawsuit seeks to block the current offshore wind plans of the Biden and Murphy administrations to allow more time for public input from several Jersey Shore communities. Read more.

NJ Economic Development Authority: Apply to the Real Estate Development Tax Credit Program Applications are now open for the Aspire program, which supports mixed-use, transit-oriented development by providing tax credits to commercial and residential real estate development projects that have financing gaps. Most projects are eligible for tax credits up to $42 million, but some projects meeting specific criteria may qualify for more resources. The New Jersey Economic Development Authority’s mapping tool can help you determine eligibility for Aspire. Learn about Aspire here.

NJ Realtors: Check your Inbox for a Market Survey New Jersey Realtors is conducting a member survey about your local housing market. Check your inbox and look for an email with your link to the survey. Five members who complete the survey will be randomly selected to win a $100 gift card as a thank you. If you have any questions about the survey, contact New Jersey Realtors Director of Public Relations and Marketing Colleen King Oliver at coliver@njrealtor.com.

National

NAR: The Realtors Confidence Index The survey gathers on-the-ground information from Realtors based on their real estate transactions in the month. This report presents key results about market transactions. Some December highlights include:

The average number of clients taken on a home tour declined to 3.5 tours (4.0 in the prior month; 3.6 one year ago). The average number of listings also declined to 1.3 (1.6 in the prior month; 1.3 a year ago).
Properties typically stayed on the market for shorter days than one year ago, at 19 days (18 days in the prior month, 21 days one year ago), but the difference has narrowed compared to the 2-week difference at the beginning of the year. A lower fraction of properties sold within a month, at 73 percent (83 percent in the prior month; 70 percent one year ago). Read more about the report here.

Real Trends: Feds Seek to Enlist Real Estate Agents in Anti-Corruption Push The Financial Crimes Enforcement Network, or FinCEN, is floating a proposed anti-money laundering rule that could impose reporting mandates on a broad swath of professionals in the residential real estate market, including real estate agents, brokers, attorneys, title insurance companies and settlement agents. Read more.

Welcome CORE's Newest Affiliate Members!

You can learn more about these businesses by visiting our Affiliates page or clicking on the logos below. Members are encouraged to use affiliate member products and service whenever possible. Click here for our affiliate member directory.