LIEB BLOG

Legal Analysts

Monday, March 18, 2013

Storm Front CE - LICREE - Links from Course

Last week, at the Long Island Commercial Real Estate Expo, we presented our course Storm Front to a packed room of real estate professionals.

Some students asked that I share the links from the Powerpoint Deck future reference.

So, here goes:

1) Participating Community List for National Flood Insurance Program (NFIP) can be found by clicking here
2) NFIP Summary of Coverage can be found by clicking here
3) Cost of Flooding can be found by clicking here
4) 2010 Annual Performance Report of Industrial Development Agencies (IDAs) can be found by clicking here
5) FEMA's Building Science & Rebuilding Building Code Resources can be found by clicking here

For all those who attended, I hope you enjoyed the class and the Expo. We, at Lieb School, had a terrific time and were glad to participate.

Housing Analysts are Bullish - 8% Rise Expected in Home Prices

4 Important Data Points will be out this week according to Mamta Badkar at Business Insider supporting the rise in Housing!

To read the article, "There Are 4 Big Pieces of Housing Data Coming Out This Week", click here.

This is fabulous news for all Real Estate Professionals. With the rebound in housing, more transactions, new builds and investment in everything real estate will be occurring.

Lets get ready to finally ride the wave up in housing and compound this positive data with a lot of hustle and hard work to keep the momentum going.

Wednesday, March 13, 2013

ALERT - Village of Quogue, New Real Estate Transactional Requirement

Buyers and Sellers of real estate should always hire a real estate agent who is familiar with the local municipal Code concerning their property.

Guess what?

In the Village of Quogue, as of July 2013, transacting parties will be required to have a new Certificate of Occupancy issued within 3 months either before or after the change of ownership.

This rules is a result of the Village of Quogue amending its Village Code, which happens all too often in many municipalities to be able to keep track of them all. Now, Chapter 196 of the Village Code has been amended by adding new subsection "F" to section 196-61, which can be read by clicking here.

So, the reason that you need a real estate agent familiar with the local municipal Code is evidenced by the fact that I only learned about this new Code section from my friend, Ed Kurosz, of the Corcoran Group.

Thanks Ed from all of the Real Estate Professionals who read this blog to stay in the loop about real estate happenings within Downstate New York.

Thursday, March 07, 2013

Do I have to pay my unlicensed plumber?

It depends where your pipes are clogged.

In Manhattan and the Bronx you have to pay.

In Brooklyn, Queens, Staten Island, Long Island, as well as Dutchess, Orange, Putnam, Rockland and Westchester Counties you don't have to pay.

We live in a crazy world, don't we?

Wednesday, March 06, 2013

Title Waves - Advanced Payoff Authorization Sample

At our class last evening in East Hampton, Title Waves, our sponsor, Aquebogue Abstract Corp. offered to provide the students with a sample authorization for mortgage payoff figures. As Ken Zahler from Aquebogue Abstract explained, having advance authority can expedite the closing by way of avoiding waiting for the payoff figures from all outstanding loans while everyone is prepared to close. 

Ken's contact information is on the form should our students wish to reach out to him with further questions about his company or title insurance, in general.