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July 28, 2021

FEMA Updates Risk Rating for National Flood Insurance Program

By: Kim Shindle on July 20th, 2021 in Industry News A new rating system for flood insurance was recently reviewed during a webinar by the Federal Emergency Management Agency and the Pennsylvania Emergency Management Agency. Risk Rating 2.0 was designed by FEMA to modernize the National Flood Insurance Program’s insurance pricing methodology and more accurately tie its rates to the flood risks of individual properties. Of the more than 51,000 NFIP policies in Pennsylvania, more than…Read more
July 19, 2021

Oppler Op-ed: Compensation Model, MLS Are Pro-Consumer

By: Charlie Oppler Published in RISMedia As a small business owner and president of the National Association of REALTORS® (NAR), I want to set the record straight on misconceptions by some about the real estate industry. Commissions for real estate agents and brokers are negotiable. Always have been. Always will be. Let’s put that on the table right now. Like most transactions in the American economy, market…Read more
July 7, 2021

Housing Affordability Continues to Remain a Challenge for Many Buyers

By: Kelly Leighton on July 7th, 2021 in Industry News For the second quarter of 2021, median home prices of single-family homes are less affordable than historic averages in nearly two-thirds (61%) of counties in the U.S. This is an increase of 13% year to year, and the highest point in two years, according to ATTOM Data Solutions’ 2021 U.S. Home Affordability Report. Affordability is determined by calculating the amount of…Read more
July 1, 2021

Reports of Scam Targeting Real Estate Licensees

By: Kim Shindle on July 1st, 2021 in Industry News A recent license scam has expanded to the real estate industry. The Dauphin County Sheriff’s Office has reported that the scam targets real estate licensees. The scammers claim to be calling from a specific judge or sheriff’s office and say that the person has failed to show up for jury duty and now they must pay a fine or risk the…Read more
June 18, 2021

New and Improved Sellers Property Disclosure Statement

By: Desiree Brougher, Esq. on June 18th, 2021 in Legal Issues  |  Standard Forms On July 1, an updated Sellers Property Disclosure Statement (PAR Form SPD) will be published for use. There was no change to the Seller Disclosure Law that forced a change to the form, and there is no need to replace the old SPD in your current transactions, but it had been a number of years since the last major overhaul…Read more
March 22, 2021

State and Federal Tax Filing Changes Announced

By: Kim Shindle on March 22nd, 2021 in Industry News Federal and state income tax filing due dates were both extended last week but these extensions do not apply to the estimated tax payments that are due on April 15, 2021. The due date for individuals filing for the 2020 tax year will be automatically extended from April 15, 2021, to May 17, 2021 for federal income tax. The IRS will…Read more
February 26, 2021

Terminating an Agreement of Sale

By: Jim Goldsmith, Esq. on February 26th, 2021 in Industry News There are occasions where the Agreement of Sale may be terminated for reasons other than the exercise of an option or right granted by its terms. A previously published JustListed article examined the Notice of Termination of Agreement of Sale and the situations when it should be used. Broadly speaking, it is used to exercise a right to terminate the agreement that is…Read more