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.

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.

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?

Yes and the broker must do so immediately says the Department of State in Department of State v. Gill, Vassel and Heritage Realty, Inc. at 2283 DOS 07 where it was held that: "The failure to make such a filing until some one or two months after the termination of association with their brokerage, Respondents Vassel and Heritage violated RPL §442-b, and demonstrated incompetency. DLS v James, 10 DOS 93."

Specifically, the Department of State referred to Real Property Law 442-b when it made its decision. The statute states:


Discontinuance or change of salesperson’s association; report: When the association of any real estate salesperson shall have been terminated for any reason whatsoever, his broker shall forthwith notify the Department of State thereof in such manner as the department shall prescribe. Where change of such salesperson’s association is the basis for such termination, the salesperson’s successor broker shall forthwith notify the department of such change in such manner as the department shall

Therefore, the broker has the duty to release a license forthwith.

To learn more about brokerage statutes and regulations in NY and how the actually effect your life and livelihood  register for Lieb School today.