Passaic County Board of REALTORS®
Views & News 
Friday, February 24, 2017


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Brown: NAR Ready for Tax Debate

NAR President Bill Brown says the association is ready, as tax initiatives heat up on Capitol Hill, to protect incentives for homeownership and commercial property investment in this video message to members

January Local Market Statistics

January brings out a rejuvenated crop of buyers with a renewed enthusiasm in a new calendar year. Sales totals may still inevitably start slow in the first half of the  year due to ongoing inventory concerns. Continued declines in the number of homes available for sale may push out potential buyers who simply cannot compete for homes selling at higher price points in a low number of days, especially if mortgage rates continue to increase.

Monthly Indicator Report

Local Market Update

More Market Info

January Home Sales Fastest in a Decade

The pace of existing-home sales increased 3.3 percent to a seasonally adjusted annual rate of 5.69 million in January from an upwardly revised 5.51 million in December 2016. January's sales pace is the strongest since February 2007. "Much of the country saw robust sales activity as strong hiring and improved consumer confidence at the end of last year appear to have sparked considerable interest in buying a home," NAR Chief Economist Lawrence Yun says. "Market challenges remain, but the housing market this year is off to a strong start." More.


NJ Realtors® are hosting a statewide Realtors® Care Day on April 26.  PCBOR® will be participating.  This program arranges for volunteers to assist eligible homeowners with exterior home repairs  and  adaptive and safety modifications for the elderly or disabled.

If you or someone you know might qualify as a recipient of Realtors® Care Day please complete a brief application by March 1.

If you'd like to volunteer, please click here. 

Check out our photos from last year's REALTOR Care Day HERE.

Save the Date- PCBOR® Golf Outing

Our Annual Charity Golf Outing will be held at the

Black Bear Golf Course (in Franklin, New Jersey) to benefit

Oasis.  It will be held on Friday, June 2, 2017. 

More information to follow.  

Seasonal Clothing Drive to Benefit Oasis

Our 2017 Realtors® Community Project Charity is Oasis in Paterson.  We will be collecting Women and children seasonal clothing at the Board office now through the end of February.  

Home Affordability a Growing Challenge 

Homebuyers at many income levels could find that the number of listings on the market within their price range is inadequate in the coming months, suggests the  REALTORS® Affordability Distribution Curve and Score, a new monthly research initiative jointly managed by NAR and®. "Home prices have ascended far past wage growth in much of the country in recent years because not enough homeowners are selling and homebuilders have not boosted production enough to meet rising demand," says NAR Chief Economist Lawrence Yun. News release.

PCBOR® Scholarship Application Now Available

PCBOR® has proudly been awarding scholarships to families of PCBOR Realtor® Members since 2001.  Realtor® Members who are in good standing for preceding three years (with PCBOR®) may make application on behalf of children, grandchildren (immediate family members), are all eligible for scholarship assistance.

The Scholarship Program is to be available to High School Seniors who will be attending an  undergraduate four-year institution, student's currently enrolled in undergraduate four-year institutions and students pursuing studies at an accredited technical school or two-year

community college.  PCBOR Deadline is Friday, April 7th.

New Jersey Realtors® Educational Foundation is also
accepting applications.   NJR Deadline Friday, April 7, 2017.  

Video Looks at Tax Plan, RESPA Fines

The latest Voice for Real Estate news video from NAR examines the House Ways & Means Committee tax reform plan, which would eliminate the property tax deduction, double the standard deduction, and lower tax rates. Also being considered is repeal of 1031 tax-deferred exchanges. REALTORS® expressed concerns over the changes at a meeting two weeks ago with leaders of the Ways & Means Committee. The video also looks at the penalties imposed on two real estate brokerages for marketing service agreements they entered into with a lender. The federal government says the agreements were unlawful referral-fee arrangements. Other video stories: the latest home-price trends, the importance of pets in household housing decisions, and recognition NAR has received for its energy-efficient Washington building

CRAM Sessions at PCBOR®

In order to be eligible for renewal or reinstatement of a real estate license, every individual licensed as a broker, broker-salesperson, or salesperson must complete 12 hours of continuing  education by

April 30, 2017. If completed between May 1 and June 30, 2017, a

$200 late fee applies.   More Info. 

PCBOR® will be offering two Cram Sessions (12 hours in 1 day!) to help those who need to get their credits complete in time.  Space is limited.  Choose your date- Friday, March 24th or Monday, April 24th, 2017Flyer

Cram Session Affiliate Sponsors:

March Mixer at Mother's Ale House

oin us at our March Mixer and Business Card Exchange on Wednesday, March 8, 2017 (from 5:00 - 8:00 pm) at Mother's Ale House, 95 Mountainview Boulevard, Wayne, New Jersey 07470.

First 60 Attendees $10.00 / $20.00 thereafter - includes two house drinks and appetizers.  Here is the flyer with additional information.    Non-Members: $25.00 /Affiliate Members: $20.00 Entrance Fee, No Pre-Registration Necessary!

Thank you to our March Sponsors:
A No-Cost Membership Service

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Passaic County Board of REALTORS | 204 Berdan Avenue | Wayne | NJ | 07470