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News Archives

January 6, 2021

Quiet Holiday? Not for Most Realtors®

By: Kelly Leighton on January 6th, 2021 in Industry News While home sales usually slow down over the holidays, home showings in November showed a huge spike. According to ShowingTime, showing traffic was up nearly 50% year-to-year in November. Relatedly, existing home sales were up 9.2% year-over-year in November, according to the National Association of Realtors®.  Days on the market were reduced from 38 days in November 2019 to 21 days in…Read more
January 2, 2021

January & September Newsletter

PMAR January Newsletter PMAR September NewsletterRead more
December 28, 2020

What to Expect in the 2021 Housing Market

By: Kelly Leighton on December 24th, 2020 in Industry News   The 2021 housing market should resemble a return to normalcy,® predicts. Home sales are forecasted to be 7% higher than 2020, with a strong spring and summer and a less-busy fall and winter, unlike 2020. While inventory will still remain an issue, it is expected that there will be more properties on the market and the gap between demand…Read more
December 18, 2020

It Didn’t Appraise

Much of the Commonwealth is enjoying a seller’s market in residential real estate. As a consequence, more offers exceed list price. As a further consequence, we see more transactions failing due to properties not appraising at or above sale price. What happens when a lender issues a statement of credit denial and termination? The answer can be found in the Agreement of Sale that states…Read more
December 9, 2020

Board of Directors Extends Code of Ethics Application

Board of Directors Extends Code of Ethics Application:  REALTORS® will be held accountable for discriminatory remarks, actions November 13, 2020 NAR’s Board of Directors today strengthened REALTORS®’ commitment to upholding fair housing ideals, approving a series of recommendations from NAR’s Professional Standards Committee that extend the application of Article 10 of the Code of Ethics to discriminatory speech and conduct outside of members’ real estate…Read more
December 4, 2020

Notes on Terminating an Agreement of Sale

By: James Goldsmith, Esq. on December 4th, 2020 in Legal Issues  |  Standard Forms The Notice of Termination of Agreement of Sale (Form TER) was designed to accommodate sellers and buyers who were exercising a right to terminate granted by the Agreement of Sale. For example, if the agreement is contingent upon a property inspection and the buyer finds the inspection report to be unsatisfactory, buyer may “terminate this agreement by written notice…Read more
November 20, 2020

How New State Rules Affect Real Estate Businesses

By: Hank Lerner, Esq. on November 18th, 2020 in Legal Issues On Nov. 17, the state Department of Health announced additional rules in an effort to tamp down the rapid increase in COVID-19 cases and hospitalizations. This article reviews those changes only in relation to real estate practice, and I’ll throw in a few helpful reminders of the existing rules as well. Masks, Masks, Masks A new universal masking order went into effect at 12:01 a.m. today, Nov.…Read more
November 19, 2020

To Repeat…

The inspiration for some articles is an event, a lawsuit, a new form, a problem, or a problem resolved.  In this article, I am mostly repeating previous advice for those who are repeating bad habits or for whom the advice did not stick!   First on the list, do not meet with an investigator from the Commonwealth without first consulting your attorney.  The Bureau of…Read more
November 2, 2020

Confirmation In Writing

My October article is coming to you late in no small part due to a recent jury trial that took a substantial amount of my time. In this trial I defended a real estate salesperson who, acting as a buyer agent, was alleged to have committed malpractice. As in all cases where I represent a salesperson or broker, aspects of the case hinged on the…Read more
October 16, 2020

Spooky ‘Silence of the Lambs’ Home on Market in Pennsylvania

8 Circle Drive in Perryopolis looks like your average Victorian-style home. Well, maybe it’s a little dated. But horror movie fans should instantly recognize it as the house of Jame Gumb, also known as Buffalo Bill, from the wildly popular movie The Silence of the Lambs, which was released in 1991. The house just hit the market for the second time since the film’s release. Located outside…Read more