annual realtor meeting and vote · annual realtor meeting and vote monday, november 17th, 2008...

November 2008

Annual REALTORMeeting and VOTE

Monday, November 17th, 2008Breakfast Meeting - 9:00am

Casa Mia Manor HouseRoute 303 • Blauvelt, NY 10913

Preview our new websiteOn-line dues payment

On-Line registration for continuing education classes Track your personal education records

for all courses taken with RCBORRockland Mini Realtor Convention

to includeMortgage Bkrs, Financial Advisors,

Home Inspectors, Attorneys, etc.

Call 735-0075 or email: [email protected] to reserve your seat by November 12, 2008.

•Realtor Vote

•2008 Legal Update – Edward I Sumber, Board Counsel

•Our NEW LOOK for 2009

| November 2008

ATTORNEYSKahn & Licker 845-638-0800Steven Landau 845-639-6031James Leopold 845-638-3938Angelo M Lucrezia 845-634-6291Dennis D Michaels 845-348-0001

BANKSHudson Valley Bank 845-521-7006Provident Bank 845-369-8040

CREDIT UNIONSPalisades Federal Credit 845-602-4242US Alliance FCU 914-980-6617

ENGINEERSAndrew R. Yarmus 845-634-3580

ENVIRONMENTALSumray Environmental Consultants 845-634-3580

FINANCIAL & INVESTMENT ADVISORS*Lexington Avenue Capital Managment 845-708-5306Oppenheimer 201-845-2315*RIMS, LLC 845-821-0161

HOME INSPECTORSA.B.L. Inspections 845-634-3580The HomeTeam Inspection Service 845-357-8326HouseMaster of Rock/West 800-603-8134United Inspection Consultants Inc 845-947-4577

HOME WARRANTY/E & O INSURANCEFirst American Home Warranty 800-698-0422

INSURANCEAnzisi Rubinoff Agency 914-777-3577*H & S Sales & Consultants, Inc 845-362-6777Liberty Mutual Insurance 845-639-4982Safetynet Insurance Agency, Inc. 845-369-1100

MORTGAGE BANKERSBank of America 914-286-5465EverBank 845-624-1084GMAC Mortgage 845-624-1100N.J. Lenders Corp. 201-882-8284*The Community Preservation Corp 914-747-2570Wells Fargo Home Mtg 845-638-6400

MORTGAGE BROKERSContinental Home Loans, Inc 845-567-9030*1st Metropolitan Mortgage 201-263-3912HLB Mortgage Services 845-620-1422Home Capital Mtg Corp 914-965-9106MC Funding 845-354-9700Rand Mortgage 845-825-8050Rockland Mortgage Co LLC 845-623-2500

MOVING & STORAGE*Santi Express 845-268-1600

PUBLICATIONSHome and Family Finance 845-732-4737

TITLE INSURANCECommonwealth Land Title 845-634-7070

*Welcome New Affiliates

AFFILIATESPLEASE SUPPORT YOUR ROCKLAND COUNTY BOARD OF REALTORS® AFFILIATES ANDRECOMMEND THEM TO YOUR CLIENTS AND CUSTOMERS

WE NEEDYOUR HELP

Share your ideaswith your local board

email us [email protected]

THE ROCKLAND REALTOROFFICIAL PUBLICATION of theROCKLAND COUNTY BOARD OF REALTORS300 North Middletown RoadPearl River, New York 10965(845) 735-0075 email: [email protected]

Our goal is to better inform our membership and provide avehicle for us to communicate with each other. This is yournewsletter. We invite you to submit articles and suggestionsto Editor, Board of Realtors, 300 N. Middletown Rd., PearlRiver, NY 10965 or call 735-0075

NEWSLETTER STAFFEDITOR: Warren SwitzlerASSOC. EDITOR: Karen Peters

Interested in advertising in this newsletter? Call 735-0075The Rockland County Board of REALTORS makes nowarranties and assumes no responsibility for theaccuracy of the information contained herein. Theopinions expressed in articles are not necessarily theopinions of the Board of Realtors.

visit our website at www.rcbor.com

PRESIDENT’S MESSAGE

| November 2008

2008 has been a very challengingyear for everybody – high oil prices,increasing inflation, the potential forrecession, continuing credit crisis, bankfailures and falling home prices. Mediacoverage and technology tend to speedup the economic and market cycles ofprosperity and decline. While there areno guarantees, history has rewardedthose who take a long-term outlook ontheir investments.

The American dream of homeownership remains. It tends to getdented during hard times. Whilesignificant strides have been made toprovide liquidity in the markets,employment and consumer confidencewill be crucial to the recovery processin the coming year. This creates a hugeopportunity for the real estatecommunity to help buyers and sellers.Buyers who have been waiting for abottom will need guidance and help onall aspects of the buying process.Sellers will need to be realistic aboutthe timing and prices they can expect.Negotiations will tend to get morecomplex with the increasing number ofshort sales.

Our board has provided themembership many opportunities duringthe year, on a local basis, to honetheir skills to deal with these times and

the response has been excellent. Thelast session on short sales was very wellreceived. The increasing participationfrom the members in our programsis very encouraging. We would likethis to continue in the future. We willcontinue providing timely and excitingprograms to meet the member’s needs.

While it is hard to predict the future, itis not hard to reiterate the board’sresolve to do what is best for themembership. I wish to thank all theboard members for their outstandingefforts in making significant strides inevery area. It has been a pleasureserving you as the president of thisboard.

Raj

2008 OFFICERS AND DIRECTORS

PRESIDENTRaj Bajaj 729-8521

PRESIDENT-ELECTAdam DiFrancesco 357-8100

SECRETARYWarren Switzler 446-2657

TREASURERDenise Murphy 634-1668

IMMEDIATE PAST PRESIDENTNettie Price 354-5454

PAST PRESIDENTRoberta Bangs 634-4202

DIRECTORSMerrill Starostiak 634-0400Diane Wanamaker 947-7700Roland Hakim 634-4202Liz Rosenblatt 354-2554Marta Segarra-Allen 623-5200Linda Lipkins 634-7474Mike Nuzzo 357-4747Bill Thorne 634-7474Sharon Tucker 623-5200

AFFILIATESDrew Kessler 638-9402Barry Dorfman 639-4982

THE FOLLOWING HAVE BEEN APPROVED AS REALTOR MEMBERS:

THE FOLLOWING HAVE BEEN APPROVED AS DESIGNATED REALTOR MEMBERS:

Martha Anastasiou Martha Anastasiou Steven R Kaplan Steven R Kaplan

MEMBERSHIP

Arthur P Barone, III Weichert RealtorsCatherine Bertussi-Brennan Joyce RealtyBryon Burger Blue Sky Land DevelopersMary F Caporaso Coldwell Banker Res BrokerageLinda M Carbone Evelyn Realty of Hudson ValleyCharles Carlson Baer & McIntoshYoung Cho Kingstone RealtyMarzena Curbello Prudential Rand RealtyDeborah Y DePool Weichert RealtorsJennifer Ann DeYorgi ERA Tucker AssociatesDavid L Drahn Joyce RealtyMichaele B Elliot Coldwell Banker Res BrokerageLauren Feldman Prudential Rand RealtyAsher Frankel Mark I Real EstateSue Froehlich Weichert RealtorsKenneth R Gildersleeve Sohn Real EstateJennifer Goodridge Realty TeamsLydia V Grist Carole Novick RealtyNancy Hernandez The DeLorenzo RE GroupKaren Hopkins Baer & McIntoshSuJu Jacob Mini Dream REGeorge Joseph Joseph RealtyMargaret Jurmark ERA Tucker AssociatesEllie Kim Kingstone RealtyDong Chul Kim Kingstone RealtyKyoung S Kim Weichert RealtorsRaymond Kim Kingstone RealtyRandolph C King Century 21 GrandJoel Klein Rodeo RealtyAnna Kozlovski Weichert Realtors

David Lipkins Century 21 GrandStephanie Lynch ReMax Professional RealtorsScott Manee Weichert RealtorsMathew Mani Sheila Berg RealtyBarbara Manson Ellis Sotheby’sLinda G McCall ERA Tucker AssociatesLeslie Miles All Century RealtyDiane S Mitchell Century 21 GrandJacob Obadia Mark I Real EstateRenata Omelanczuk IBNA Spoon RiverLynn Paglia Exit CBC RealtyKon Park Kingstone RealtyPaul Park Kingstone RealtyGeorge Philip Joseph RealtyJaime M Reidy Joyce RealtyElayne Ro ERA Tucker AssociatesTiffany Rosenthal Sanders PropertiesKathryn Ollman Riordan Baer & McIntosh Ronald S Sabo Prudential Rand RealtyMaureen Schroder Baer & McIntosh Dawn Smith Weichert RealtorsCaryn Snyder Kennedy & KennedyJoseph Stettin Coldwell Banker Res BrokerageBernard V Sweeney Weichert RealtorsJames Taylor ERA Tucker AssociatesArun Thomas Joseph RealtyRichard Walsh Baer & McIntoshMichele R Williams Prudential Rand RealtyJin Ok Woo Kingstone Realty

| November 2008

RPAC$99.00 Contributors

$250.00 Capitol Club

Life Members

Roberta Bangs

Laurie DiFrancescoEd Glazer

Karen GlazerMarion Reichner

Jean YasskyAlan Yassky

Benjamin AdamsEugenia AndersonAllyson AvilaHope BeauchampDavid BergerDeborah BlankfortSusan BovaCharles BoccaSara BrineTerry BrundageLen CarrFrancisco Colon

Carol CzitromJohn D’ErcoleAdam DiFrancescoStuart EinwohnerWilliam EllisRich EllisLeah FeinerSabrina FeldmanMary FitzgeraldMarilyn FriedbergLinda GambardellaEdward Glazer

Jacob GoldmunzerMoshe GottfriedJack GubermanDennis HaberAnnabelle HackettMarie HoeyMoshe HopsteinRobert HoytJoseph IlliparampilKevin JoyceMary Ellen JoyceV. Kunjupillai

Ersilla LaurinoMarcy LawrenceLinda LipkinsEdward LopezHarold Mac CartneyThomas Mac RobbieThomas MathewLinda MichelsJoseph MitlofHilda MoskovicJoshua NeedelmanBrian Nelson

Carol NewmanMike NuzzoAnthony OcchipintiGreg PeterkinGail PosnackJohn RenteriaJudeline RouzardDavid SandersSarah SchwabEric SelmonDeborah Ann SheehanWalter Smith

Diane SnyderMerrill StarostiakWarren SwitzlerLynn TegerRobert ThomasSharon TuckerDiane WanamakerMargie WeinbergStuart WeinbergerRichard WeismanCharlene YerkovichThomas Yu

GOOD NEWS!We have a great committee formed to help disperse local RPAC monies. Unfortunately, we are only 75% of goalon monies collected. So in an effort to reach 100%, we are asking each office to collect $1.00 from each agent.

Special awards will be given to the offices with 100% participation. Mike Nuzzo, RPAC Chairperson

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| November 2008

EDITOR’S NOTEDear Brokers, Agents and Staff,

The “Go Green Imitative” states that“Through simple, responsible behaviorshifts, together we can protect humanhealth through environmental stewardship.”RCBOR has a track record of responsiblecommunity awareness providing programsand events that benefit our RocklandCommunities and citizens.

We too, “Go Green”. To begin, we arereducing mailings that contain informationthat can be more efficiently transmitted toour membership via alternative methodsof communication. This resulting in theunnecessary consumption of paper.

In February of 2009, by law, Digital TVBroadcasting will be the only manner inwhich TV signals may be transmitted. Theold style, analog signal will no longer betransmitted.

E-mail to Kermit. “It may not be easy tobe Green; but it is easy to Go Green , andit’s worth it!”

Your Editor,

Warren T. Switzler

FORECLOSURES

Good News, Bad News! First, here’s theGood. “The Hope For Homeowners Act of2008” was signed by the president on July30th and is planned to begin October 1st.Homeowners who can’t afford theirmonthly payments can apply for an FHArefi 30 year fixed loan. These loans will be

given to 400,000 owners who are at risk oflosing their home to foreclosure. In returnfor this new mortgage, the home ownersagree to share any future appreciation withFHA. It gets better! FHA has no minimumcredit score requirement, so participatinglenders will need to ignore that requirement.

Here’s the Bad News. For the banks,Although it will cost them less than aforeclose, they will have to take a partialloss on the loan and reduce the amount ofmoney the borrowers owe. Will theycooperate?

2nd Mortgages will be required to beresolved before the refi. So 2nd Mortgagelenders could stop some refi’s; whatincentive does he have to agree? At least ina short sale, the 2nd mortgage lender getssomething!

There’s Bad News for investors as well.These refi loans are only forowner/occupants.

APPRAISALS

For Appraisers, The Home Valuation Codeof Conduct will be in effect, January 1,2009 nationwide for Fannie Mae andFreddie Mac loans. Under the code, thefollowing are prohibited by lenders:

1. Using in-house appraisers2. Directly Hiring Appraisers3. Employing an Appraiser who works

for a company that is more than 20%owned by the lender.

HOME INSPECTIONS

For Home Inspectors. Gov. Paterson vetoed

“The Well Education Act” which wouldhave prohibited home inspectors fromtaking water samples of houses on themarket. The decision to veto has beencredited the the several inspectors whowrote the governor urging him to veto.

On the issue of licensing of inspectors acourt decision from last year ordered a NYcontractor to cease and desist fromperforming home inspections.

A home buyer asked the contractor whomhe had previously used for homeimprovements to “check out” a house hewas considering purchasing. The contractordid so and presented the buyer with a onepage explanation of his findings. The DOSAdministrative Judge stated that the reportwas not an estimate of repairs but rather thecontractor’s evaluation of the propertymaking the report, and inspection for whichthe contractor was not licensed.

FAIR HOUSING

“Fair Housing is Everyone’s Right” is anarticle from “craigslist“. The focus is on“discriminatory preference in ads” Severalare given. These illegal ads, prohibited on“craigs list” are often seen in printadvertising and, Yes, even MLS Listings.

They also give examples of situationswhere discriminatory advertising is exempt,i.e. shared housing, private clubs, religiouscommunities, and senior complexes.

A “Must Read!” article for the entire realestate office. Check it out at www.craigslist.org/about/FHA.html.

| November 2008

Welcome RBA Members:

1ST METROPOLITANMORTGAGEMichael Forman of The FormanMortgage Team at 1st MetropolitanMortgage is the mortgage source forfast, friendly service providers, work-ing hard to maximize your financialresources, and enabling you to realizeyour goals of homeownership. Whileany mortgage company can offer toprocess a loan, Michael strives to pro-vide higher standards of diversifiedmortgage services while maintaininghis status of industry excellence, quali-ty care, and unsurpassed customer serv-ice.

The Forman Mortgage Team at 1stMetropolitan Mortgage - We are StillStrong for over 25 Years. We offer100% Financing • Residential-Commercial-Construction-ReverseMortgages • Great Investor Programs •All Credit Levels

Michael is a Desert Storm Veteran anda member of the following organiza-tions:

• Montvale Chamber of CommerceExecutive Member

• New City Chamber of CommerceMember

• Financial Planning AssnNew Jersey Chapter - Member

• New City Little LeagueVice President - AAA Division

• CNHS Football Program4th Quarter Club - Vice President

• CNHS Baseball Program

• WEPRC - Wedding Event Planner ofRockland County - Member

• Herocare.org - Program Director

• Rockland County VeteranF.A.V.O.R program

LEXINGTON AVENUE CAPITALMANAGEMENTLarry Luxenberg, Partner, New City,NY. Tired of the turbulence in the stockand bond markets and not sure whetherinvestment professionals are on yourside? We are a fee - only investmentadvisory firm that takes a completely

different approach to investing. Westress safety, low costs, broad globaldiversification and a long-term outlookusing enhanced index funds. Over time,this provides among the highest returnsin the industry while sharply reducinginvestor stress.

The first step is to develop a customizedplan for each client. We take a strategicapproach to investing that involvesassessing a client’s risk tolerance,resources, financial needs and goals.We also provide comprehensivefinancial plans. We’re eager to talk toprospective clients about our approachand welcome all inquiries. Foradditional information go to ourwebsite, www.lexingtonave.com or call845-708-5306.

Larry has been a securities analystand portfolio manager for 25 years,managing as much as $10 billion. Overthe years he has become convinced thatpassive management, such as indexfunds, is the best way to protectinvestors while at the same timebenefiting from the long-term growthof the global stock markets.

OPPENHEIMERTHE KAHN KANTOR GROUPOF OPPENHEIMER & CO. INC.TEAM’S MISSION The Kahn Kantor Group ofOppenheimer & Co. Inc. is dedicated toproviding comprehensive advice andservices that set the bar for excellencein Financial Planning and WealthManagement Services. We take thewhole picture into account as weevaluate each client’s needs. First, weinterview the client to find out his or herunique goals and objective. This allowsus to analyze the client’s situationand create an appropriate investmentstrategy. As we examine not justmanaging a client’s assets, but theentire financial picture, we focus on:

• Asset accumulation anddiversification.

• Education planning for children andgrandchildren.

• Risk management (insurance andconcentrated positions)

• Retirement planning.

• Estate planning.

For over a century, we have beencommitted to helping clients investand preserve money wisely byproviding independent financialinsights, a full spectrum of traditionaland nontraditional product solutionsand responsive client service. As aleading investment boutique, we bring aunique combination of local presenceand national resources that allows ourFinancial Advisors to provide attentivesolutions to each client. Our goal is thatclients understand their financialposition, have confidence in theirinvestment decisions and feeloptimistic about the future.

Robert Kantor, Associate Vice President- Investments. Rob is an Associate VicePresident and Financial Advisor forOppenheimer & Co. Inc. who alsoholds his Accredited AssetManagement Specialist (SM), orAAMS®, in Financial Planning fromThe College for Financial Planning.Before joining Oppenheimer, heworked at A.G. Edwards for six years.Rob attributes his success not only tohis training and experience, but alsoto the personalized approach that heemploys with his clients. Hisspecialties include financial planning,retirement planning, equity-basedportfolios and fee-based strategies forhigh net worth individuals andfamilies. Rob earned a Bachelor’sdegree from Indiana University’sSchool of Business, with a minor insmall business management. He holdsthe General Securities RepresentativeLicense (Series 7), the UniformSecurities Agent State LawExamination (Series 63), the UniformCombined State Law Examination(Series 66) and is licensed as an agentfor life insurance in the Tri-State area,as well as a number of other states.

SAFETYNET INSURANCEAGENCY, INC.Thank you for the opportunity of beingan Affiliate Member of the RocklandCounty Board of Realtors. I haveworked with several realtor Membersthroughout the years, with eachmaintaining a high level ofprofessionalism. My name is Michael Murphy and Ihave lived in Rockland County all my

SPOTLIGHT ON OUR NEW AFFILIATES:

Continued on page 8

| November 2008

life. I grew up in the area around SpookRock Golf Course in Suffern andobtained a job there at the tender age of12, picking up golf balls on the drivingrange. I held various positions there allthe way through my college graduationand met many interesting people.

The most important person I met atSpook Rock was Barbara, also anemployee of the club. After almost 21years of marriage, we enjoy eachothers company, as we raise our 2 icehockey players, Matt (17) and Bryan(14). Not to be out done by her olderbrothers, Kyla (11) recently took upfield hockey. Barbara is a teachingassistant at the Montebello ElementarySchool.

After 20 years as an insurance agent forAllstate Insurance, I recently sold myagency and am now an ownerof Safetynet Insurance Agency,in Suffern. Our agency offerscommercial building owners andtenant business owners a choice ofseveral name insurance companies toprotect the investment they haveworked so hard to build.

SANTI EXPRESSSheryl Santi Luks is President of SantiExpress, Inc., a Rockland County basedboutique moving company that takesthe stress out of moving with itsunique personal service. As a certifiedwoman-owned business enterprise,Sheryl has broken down barriers ina male-dominated field. Started in1975, Santi Express handles more than500 moves per year, both local and longdistance, focusing on residential andcorporate re-location. The companyalso provides containerized,

climate-controlled storage.

Sheryl is a long standing and activemember of the New York Movers andWarehouseman’s Association, theMahwah Chamber of Commerce, theHaverstraw Chamber of Commerce,Women Business Leaders, theRockland Business Women’s Network,and the Alumni Board of LeadershipRockland. A firm believer in givingback to the community, Sheryl is amember of the New City Rotary, afounding member of the HadassahNurses of the Lower Hudson Valley,and serves on the board of Advisors ofthe American Cancer Society. SantiExpress has helped to serve the needsof many of the charitable organizationsin Rockland County including theUnited Hospice of Rockland, RocklandFamily Shelter, Meals on Wheels,People to People, and the JCCRockland.

THE COMMUNITYPRESERVATIONCORPThe Hudson Valley office of TheCommunity Preservation Corporation(CPC), a not-for-profit mortgagelender, has been serving Dutchess,Orange, Putnam, Rockland, Sullivan,Ulster, and Westchester counties since1989 and Connecticut since 2006. CPChas financed over 14,300 housing unitsfor an investment of more than $940million in the Hudson Valley. In total,CPC has financed over 150,000housing units with a recordinvestment of over $7 billion during thelast 34 years.

CPC provides construction andpermanent financing for all types of

multi-family housing including: rentalhousing for families, seniors andspecial needs populations, andconstruction loans for the developmentof affordable homeownership. CPC cansimultaneously commit a constructionand permanent loan for thedevelopment or rehabilitation of rentalhousing. The long term permanenttakeout can be committed up to 24months in advance. CPC loans can beused for acquisition, refinancing, newconstruction, and/or rehabilitation. Weoffer 80% maximum LTV and 30 yearmaximum loan terms.

Not only does CPC provide buildingdevelopers with the resources theyneed, but we will also coach them onthe fundamentals of financing thedevelopment of their property. CPC’srates are competitive with otherlenders, and our mortgage staff alsoprovides the following personalizedservice to our customers:

• Review rehab scopes and costs

• Advise on rent subsidies, taxbenefits, and other incentives andhelp customers to apply for them

• Coordinate financing withgovernment and other low-interestsubsidy providers

CPC works with public, private, andnon-profit developers. No deal is toolarge, small, or “unconventional” andno developer is too “new” for CPC’sconsideration.

Continued from page 7

| November 2008

WHEN CAN A REALTOR OBTAIN A CREDIT REPORT OF A CUSTOMER OR CLIENT?By Edward I. Sumber, Board CounselRe-printed from August 2008 edition of Real Estate In-Depth,Westchester Board of Realtors

When real estate licensees are acting on behalfof a landlord to bring a tenant to the premises, itis commonplace for the real estate licensee toobtain a credit report regarding the prospectivetenant. The right of a real estate agent to obtainsuch a report was set forth long ago in a FederalTrade Commission “Staff Commentary” onsection 604 of the Fair Credit Reporting Act(“FCRA”).

The FTC AnalysisThe FTC’s commentary regarding the FCRAstates in part:

“6. Agents

A. General. An agent of a party with a“permissible purpose” may obtain aconsumer report on behalf of his principal,where he is involved in the decision thatgives rise to the permissible purpose. Suchinvolvement may include the agent’smaking a decision (or taking action) for theprincipal, or assisting the principal inmaking the decision (e.g., by evaluatinginformation). In these circumstances, theagent is acting on behalf of the principal.In some cases, the agent and principal arereferred to as “joint users.” . . .

B. Real estate agent. A real estate agent mayobtain a consumer report on behalf of aseller, to evaluate the eligibility as aprospective purchaser of a subject whohas expressed an interest in purchasingproperty from the seller.”

Obligations of Real Estate LicenseesWhen Obtaining Credit Reports

There are three nationwide consumer creditreporting companies, i.e. Equifax, Experian andTransUnion. The FCRA places substantial obli-gations on the persons who obtain credit reports.In most instances, consumers authorize a personto obtain a credit report because they arerequesting financing, employment or other serv-ices. Even when a consumer does not authorizethe request of a report and the consumer is seek-ing to rent an apartment, the entity grantingcredit or the landlord and his or her agent canobtain a credit report. When a consumer’s appli-cation for an apartment or financing is rejectedin part because of the consumer’s credit report,certain obligations accrue to the person whoobtained the report. The consumer must beadvised:

I. that an adverse action has been made with

respect to that consumer in whole or in partbecause of the report from the consumerreporting agency;

II. of the name, address and telephone numberof the consumer reporting agency thatprovided the report (including a toll-freetelephone number);

III. that the consumer reporting agency didnot make the decision to take the adverseaction with respect to the consumer andwill be unable to provide the consumerwith the reasons why the adverse actionwas taken; and

IV. that the consumer may, upon providingproper identification, request a free copyof the report and may dispute with theconsumer reporting agency, the accuracyor completeness of any information in thereport.

A real estate agent is permitted to provide to theconsumer a copy of the report that formed thebasis of or a partial basis of the adverse decisionagainst the consumer.

What Are The Rights of TheConsumer?

The FCRA now requires that the threenationwide reporting companies, Equifax,Experian and TransUnion, provide a free copyof any consumer’s credit report once everytwelve months. The reports can be obtainedusing a computer website, a toll-free telephonenumber or a mailing address as follows:

a) www.AnnualCreditReport.com,b) 1-877-322-8228; orc) Mail an Annual Credit Report Request

Form to Annual Credit Report RequestService, P.O. Box 105281, Atlanta, Georgia30348-5281. (A copy of the form required,can be obtained from http://ftc.gov/credit).

Contacting the three nationwide consumerreporting companies individually will not resultin a consumer obtaining a copy of his or herreport. In order to obtain a report, the individualmust provide his or her name, address, socialsecurity number and date of birth. Otherinformation may be requested if a person hasmoved or there are anomalies in theinformation. The reports are usually availableinstantaneously by using the online website orwithin fifteen days using the telephone numberor Annual Credit Report Request Form.

Adverse Actions

Under Federal law, every consumer is entitled toa free report if a company takes an adverse

action against a consumer such as denying anapplication for a mortgage or for a rental. Thefree report is obtainable from the CreditReporting Agency within sixty days of thereceipt of the notice of action by the lender orlandlord, etc.

Errors, Errors, Errors!

Many consumers have found their credit to beimpaired because of errors made by creditreporting companies. Under the FCRA, theconsumer reporting company must upon receiptof a written notification that an entry on a reportis disputed, investigate the items and if aninaccuracy is determined, remove the disputeditem from the report. The consumer reportingcompany must also notify all three nationwideconsumer reporting companies so that theinformation is corrected by each of them.Moreover, the consumer reporting companymust provide to the consumer a report of writtenresults and a free copy of a report reflecting theremoval of the disputed item if the consumer iscorrect. There are strict requirements for thereinsertion of such information in a report onceit has been removed.

When a consumer reporting company refuses tocorrect the information or disputes the viewpointof the consumer, the consumer is permitted toask that a statement setting forth the dispute beincluded in his or her file and in all futurereports. The consumer reporting agency doeshave the right to charge a fee for the inclusion ofthe statement of dispute.

Who Can Obtain Copiesof a Person’s Credit Report?

The only persons permitted to obtain copies of aperson’s credit report are creditors, insurers,employers and other businesses that use theinformation in order to evaluate applications forcredit, insurance, employment, for renting ahome or for similar purposes. Employers maynot obtain a credit report about their employeesunless the employee agrees. Lawyers cannotobtain a credit report for purposes of consideringwhether or not to commence litigation. If anactual claim exists on behalf of a client, theclient can, based upon there being a balance dueto the client, seek a credit report regarding thenon-paying debtor.

For More Information . . .

Anyone interested in obtaining copies of theFCRA or other commentary from the FTCregarding the rights of debtors and creditorsunder the Act, can seek same from the FTCWebsite at:http://www.FTC.gov/bcp/edu/pubs/consumer/credit/cre34.sthm.

| November 2008

EXECUTIVE BOARD MEETING MINUTESRCBORBoard of Directors MeetingSeptember 25,2008

ATTENDANCE:

Merrill Starostiak

Roberta Bangs

Adam DiFrancesco

Drew Kessler

Warren Switzler

Nettie Perice

Diane Wanamaker

Roland Hakim

Ed Sumber

Liz Rosenblatt

Barry Dorfman

Sharon Tucker

Call To Order: 9:07 a.m..

PRESIDENT’S REPORT:Raj Bajaj - absent Adam DiFrancesco

presided over meeting.

NYSAR - Roberta Bangs, Laurie

DiFrancesco, Jerry Fox, and Sharon Tucker

reported on the Saratoga Business Meeting.

Some topics discussed were the following:

Dual Agency. When showing an in-house

listing dual agency occurs when interest

is expressed by a buyer. DOS is moving

to have it begin at the showing of the

property.

Fair Housing - Lenders who encouraged

minorities to take interest only and

adjustable rate loans that have brought

them to the door of foreclosure may have a

case of “fair lending” brought against them.

The Nominating Committee will be

Nettie Price, Debbie Russo, Merrill

Starostiak, Greg Peterkin , Linda Viglietta ,

and Diane Wanamaker as alternate.

NYSAR - Secretary /Treasurer for 2010

Margaret Hartman - Buffalo Niagra Region;

Susan Goldy - Manhattan Association;

J.P. Endres Fein - Westchester.

PROGRAMS:Merrill Starostiak - announced Installation

Dinner Dance Thursday, December 4, 2008

@ 6 p.m. at the Comfort Inn in Nanuet

EDUCATION:Sharon Tucker The 75 hr. salesperson

qualifying online course has been Arello

approved. It needs to be submitted to the

state for approval.

In 2008 - 82 Scholarships were awarded,

one Rockland County member. Discussion

followed regarding The NYS Real Estate

Education Foundation and continuing the

annual donation. Roberta Bangs motioned

to continue the donation for 2009 second by

Merrill Starostiak, approved. The Instructor

Training Institute is scheduled for June

23-25, 2009.

MEMBERSHIP:Roland Hakim moved to accept designated

realtors, 12 new realtors, and one affiliate.

2nd by Drew Kessler, accepted. Barry

Dorfman motioned to continue the RBA

outreach program, 2nd, Roberta Bangs

approved.

COMMUNITY SERVICE:Drew Kessler - The Back-To-School Drive

brought $4,000. Rivertown and The Journal

had articles. There will be an ad in The

Journal for Monte Carlo Night. Drew

requested board members refer dealers for

the event.

PROFESSIONAL STANDARDS:Roberta Bangs - Two ethics complaints are

scheduled for hearing, one interboard

arbitration; one interboard ethics.

Reminded board members that the

quadrennial Code of Ethics update must be

done by 12/31/08.

RPAC:Mike Nuzzo - absent RCBOR is at about

77% of its goal for 2008 at $18,318.

NEW BUSINESS:Warren Switzler presides over meeting @

11:08 at which time Adam DiFrancesco

gives the Technology report. Adam

motioned to activate the My Space and U

Tube accounts. They are free to activate

2nd, Drew Kessler , passed.

Triple Play - RCBOR’s Participation.

Karen Peters discussed the costs involved

in having the suite and refreshments.

Sponsors are a consideration .

NEXT MEETING: October 15,2008

MEETING ADJOURNED:11:48 a.m..

MY CLIENTS LENDPRIVATE, SHORT TERM,

COMMERCIAL MORTGAGE MONEY

ALAN SNIDER, ESQ.800 CENTRAL PARK AVENUE, SUITE 204

SCARSDALE, NY 10583PHONE (914) 472-1956

| November 2008

| November 2008

2009 PROPOSED SLATE

PRESIDENTAdam DiFrancesco . . . . . .357-8100

PRESIDENT-ELECTDrew Kessler . . . . . . . . . .638-9402

SECRETARYBill Thorne . . . . . . . . . . . .634-7474

TREASURERDiane Wanamaker . . . . . .947-7700

IMMEDIATE PAST PRESIDENTRaj Bajaj . . . . . . . . . . . . . .729-8521

PAST PRESIDENTNettie Price . . . . . . . . . . . .354-5454

DIRECTORSRoland Hakim . . . . . . . . . .634-4202

Jerry Lott . . . . . . . . . . . . .268-5450

Liz Rosenblatt . . . . . . . . . .354-2554

Denise Murphy . . . . . . . . .634-1668

Merrill Starostiak . . . . . . .634-0400

Vanessa Saunders . . . . . . .634-0400

Roberta Bangs . . . . . . . . .634-4202

Linda Lipkins . . . . . . . . . .634-7474

Sharon Tucker . . . . . . . . . .623-5200

AFFILIATESBarry Dorfman . . . . . . . . .639-4982

Steve Greenberg . . . . . . . .638-6400

Additional candidates for the offices tobe filled may be placed in nominationby a petition signed by at least five(5%) percent of the REALTOR®Members eligible to vote. The petitionshall be filed with the AssociationExecutive or the President at least ten(10) days before the date of the elec-tion. There are to be no nominationsfrom the floor. The AssociationExecutive or the President shall sendnotice of such additional nominationsto all Memberseligible to vote before the election.

Election date is Monday, November 17,2008 at our Annual Meeting. This willbe a breakfast meeting at Casa MiaManor House, Route 303, Blauvelt,New York, starting at 9:00am.

SCHOLARSHIP INFORMATIONSCHOLARSHIP PROGRAMThrough its scholarship program, the foundation strives to raise the levelof knowledge, professionalism and client service among those in the realestate profession.

ELIGIBILITY OF LICENSEESAny individual who has at least one year experience in real estate sales and who holds a realestate license in New York is eligible for one of the designation program scholarships. Theseinclude Accredited Buyer Representative, Certified International Property Specialist, Resort andSecond-home Property Specialist, Graduate REALTOR Institute and Seniors Real EstateSpecialist designation course scholarships. Applicants should hold primary REALTOR member-ship in New York State, show positive motivation toward real estate education and prove theirinterest in furthering their career in real estate.

ELIGIBILITY OF OTHERSAny individual who is eligible to teach real estate continuing education programs and isrecommended by their local board of REALTORS may apply for the Instructor Training Institutescholarship. Any local board of REALTORS association executive or elected officer is eligibleto apply for the NYSAR Leadership Conference assistance scholarship and any local board ofREALTORS association executive may apply for the NYSAR Association Executives Conferencescholarship.

IMPORTANT DATES AND REQUIREMENTSApplications must be postmarked by August 1 each year. Each application must be supportedby two letters of recommendation and must include a letter from the applicant describing theirneed, how the scholarship will benefit them and their future goals relating to the use of thescholarship. Scholarships are awarded each fall.

For more information visit NYSAR.COM

The New York State Association of Realtors is please toannounce that the website for NYSAR’s health insuranceplan with MVP is now live and ready.

Take On Life and Live Well

With the only medical plan comprehensive enough to get the endorsement of theNew York State Association of REALTORS.

When it comes to health care, everyone has their own needs. That’s why it'simportant to have a health care plan that offers comprehensive coverage andsupport, for real peace of mind.

Exclusively through your NYSAR membership, you now have access to a choice ofseveral exciting new medical and prescription drug coverage options offered by MVPHealth Care. Tailored to meet the unique needs of New York real estate profession-als, these plans offer an expansive doctor network, innovative options, comprehen-sive prescription drug coverage, and tons of additional resources designed to helpyou - and your family - live well and meet diverse health care needs. Learn moreabout the plan options now >

Routinely recognized by U.S. News and World Report magazine as a provider ofone of ‘America’s Best Health Plans’, MVP Health Care has partnered with NYSARto offer members high quality, comprehensive health plan options at extremelycompetitive rates.

Take advantage of this great member benefit today!

Call 888.834.3713

| November 2008

GREATER HUDSON VALLEY MLSMONTHLY STATISTICAL REPORT - ROCKLAND COUNTY

Sept-07 Aug-08 Sept-08 % Change

SINGLE FAMILY RES YTD

# of Closed Sales 111 140 124 0%

YTD # of Closed Sales 1193 775 901 0%

Average Selling Price $569,972 $494,818 $474,690 0%

YTD Average Selling Price $557,587 $513,567 $508,118 0%

Median Price $490,000 $460,500 $450,000 0%

YTD Median Price $500,000 $461,000 $460,000 0%

YTD Average Days on Market 90 102 100 0%

YTD % Sales Price/List Price 96.0% 94.8% 94.9%

# of Available Listings 1434 1396 1349 0%

CONDO/CO-OP/TOWNHOUSE





YTD Median Price $290,000 $276,617 $276,617 0%




GREATER HUDSON VALLEY MLSMONTHLY STATISTICAL REPORT - ORANGE COUNTY

Sept-07 Aug-08 Sept-08 % Change

SINGLE FAMILY RES YTD





Median Price $335,000 $291,000 $276,500 0%

YTD Median Price $322,500 $300,000 $299,900 0%




CONDO/CO-OP/TOWNHOUSE





YTD Median Price $225,000 $225,000 $225,000 0%




| November 2008

Save the DateThe Rockland County Board

of REALTORSCordially Invites you to Our

Annual Installation Dinner DanceThursday, December 4, 2008

Comfort InnRoute 59 • Nanuet, New York

6:00-7:00pm Cocktail Hour7:00pm-10:00pm – Installation, Dinner & Dancing

$55.00/per person

Name____________________________________________________________________________

Agency _________________________________________ Phone # ________________________

Paid$__________ Check__________ Visa__________ M/C__________ AmEx___________

Account# _______________________________________________ Exp Date ________________

Mail to: RCBOR, 300 N Middletown Road, Pearl River, NY 10965

Fax to: 735-0415

| November 2008

EDUCATION

New 2009 Education Brochure

• Sales and Brokers Qualifying CoursesClassroom and On-line Courses

• Continuing EducationClassroom and On-line Course

• Designations Courses• Appraisal Qualifying and Continuing Education

• New Member Orientation• Quadrennial Code of Ethics Training

* RATE CHANGES WILL OCCUR AS OF JANUARY 1, 2009

----- Coming Soon -----

Rockland County Board of Realtors300 North Middletown RoadPearl River, New York 10965

PRSRT STDU.S. Postage Paid

Monsey, NYPermit No. 5455

DATES TO REMEMBERNOVEMBERMONDAY, NOVEMBER 17THANNUAL REALTOR MEETING AND VOTECASA MIA MANOR HOUSEBLAUVELT, NY 109139:00AM – BREAKFAST

DECEMBERTHURSDAY, DECEMBER 4TH, 2008ANNUAL INSTALLATION DINNER DANCECOMFORT INNROUTE 59, NANUET, NY 6:00PM – 10:00PM

2009 BOSS CALENDAR/PLANNERSWILL BE AVAILABLE FOR SALEAT THE BOARD OFFICE INMID NOVEMBER.

Member Support Hotlines:

Supra Support: (877) 699-6787

MLXchange Support: (888) 825-5472

MLS & OCAR: (845) 294-7905

NYSAR Legal: (518) 436-9727

(Mon-Fri 9am-1pm)

Internet:

RCBOR: RCBOR.com

NAR: Realtor.org

NY State Assoc: NYSAR.com

NY State: DOS.STATE.NY.US

annual realtor meeting and vote · annual realtor meeting and vote monday, november 17th, 2008...

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