News Archives

By: Sherri Martin on August 6th, 2021 in Industry News The Bureau of Professional and Occupational Affairs sent out a notice to all professional licensees regarding waivers of certain regulations on Aug. 5. Real estate licensees currently are able to complete continuing education credits through livestream learning methods under waivers first issued by the Department of State during the pandemic and extended by the General Assembly in June. This latest…Read more

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

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

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

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

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

WASHINGTON (JUNE 1, 2021) – National Association of Realtors® President Charlie Oppler issued the following statement today as President Joe Biden travels to Tulsa, Oklahoma, to mark the 100th anniversary of the Tulsa Race Massacre and unveil new initiatives designed to close racial wealth gaps. The administration's proposals focus primarily on expanding opportunities for small business and home ownership. “The horrific acts of violence and…Read more

It’s not unusual for an agreement of sale to go under multiple modifications before settlement.  Perhaps an inspection results in a financial concession followed by an another price modification after discovery of additional problems.  Putting the modifications in writing is required; clarity is also essential.  In the second Change in Terms you might state something like “Seller credits Buyer with $3,000 at settlement.”  Does that…Read more

By: Kelly Leighton on May 26th, 2021 in Industry News Are your buyers feeling the brunt of the lack of inventory on the housing market? They finally find a house they like and they are outbid. Or they can’t even get in for a showing before the house is off of the market. It is a tough time to be a buyer and it is understandable that some of them may…Read more

By: Hank Lerner, Esq. on May 14th, 2021 in Industry News On Thursday, May 13, the Centers for Disease Control issued new public health guidance for fully vaccinated people. The key takeaway is that “fully vaccinated people no longer need to wear a mask or physically distance in any setting, except where required by federal, state, local, tribal or territorial laws, rules and regulations, including local business and workplace guidance.” But…Read more