GSCBOR

Hello, I am Joseph Marotta, President of the Gloucester Salem Counties Board of REALTORS®. I would like to talk to you about what GSCBOR has been working on, the legislative issues affecting the housing market in our state, as well as various efforts lead by the New Jersey and National Associations of REALTORS®.

The National Association has been proactive in fighting against a new and costly rule in Washington called Qualified Residential Mortgage that is being considered by federal regulators.  If the proposal passes, it would require home buyers to put at least 20% down on a home purchase. The Association continues to monitor this provision as the public comment period and Call for Action have expired.

At the state level, the New Jersey Association of REALTORS® has been pushing the Bulk Sales Act through the legislation pipeline. Having Bulk Sales Legislation signed into law will keep real estate transactions from being unnecessarily delayed or more costly.  Currently, the bill is awaiting final approval by the Governor.

From a consumer standpoint, NJAR created the Get the REAL Story website at www.REALStoryNJ.com, which contains tips and tools for home buyers and sellers.  This site contains many REALTOR® benefits and resources – including web banners, the latest real estate news, up-to-date market information and more.

Registration will be open in September for the REALTORS® Triple Play Convention & Trade Expo, taking place in December at the Atlantic City Convention Center.  This is the premier event for the real estate industry in the tri-state area where numberous classes, networking, and speaking events take place.  Get registered early and save.

Currently GSCBOR has been working on developing this new website, to ensure our members have access to up-to-date information, events and useful links to help them better conduct their daily real estate needs.  Remember to visit our site often at:  www.gscbor.com

Sincerely,

Joseph A. Marotta