September 29, 2018
EBCBOR EVENTS
EBCBOR Participates in NJ REALTORS Realtor Care Day!
   
EBCBOR was one of 12 associations participating in the annual NJ REALTORS Care Day event. Members of the association came out for a day of giving back where with the help of L&A Contractors based out of Hackensack they were able to beautify the home of a fellow Realtor Colleague from Fair Lawn, NJ. Our members cleaned out and planted beautiful fall mums. They also replaced a fence that was in dire need of upgrading. These changes gave the home a major face lift that brought tremendous happiness to the homeowner. Homeowner, Donna said "We knew Sept. 26 was the big day but we never imagined how a team of cheerful volunteers would totally transform the front of our house, it looks amazing! Due to circumstances we needed a helping hand, and the Realtors really came through in a wonderful display of community spirit we will never forget." VIEW IMAGES
INDUSTRY NEWS
Monthly Indicators: August 2018 10K Reports
 
Rising home prices, higher interest rates and increased building material costs have pressured housing affordability to a ten-year low, according to the National Association of Home Builders. Keen market observers have been watching this situation take shape for quite some time. Nationally, median household income has risen 2.6% in the last 12 months, while home prices are up 6.0%. That kind of gap will eventually create fewer sales due to affordability concerns, which is happening in several markets, especially in the middle to high-middle price ranges.


Making Moves for REALTORS: One-on-One With Bob Goldberg
 
Bob Goldberg has had an action-packed year. In just a little more than 12 months since taking the helm as CEO of the National Association of REALTORS®, Goldberg has implemented an array of internal changes and spearheaded several key initiatives designed to better serve members. During a special one-on-one interview during RISMedia's CEO Exchange at the Harvard Club of New York on Sept. 5 and 6, Goldberg sat down with RISMedia President and CEO John Featherston for a behind-the-scenes look at some of the progress that's been made at NAR in the past year, and some of the obstacles he confronted along the way.


LEGISLATIVE NEWS
NAR Urges Deduction for Rental Income
 
The Tax Cuts and Jobs Act includes a 20 percent deduction from the net business income of sole proprietors and owners of S corporations, partnerships, and limited liability companies. The new deduction is intended to provide roughly the same tax rate cut the Act provided to regular corporations. However, it is unclear whether owners of rental real estate will be able to claim the deduction.

TECH TIPS
Forget Bitcoin-4 Ways to Use Blockchain Today
 
Media outlets have written breathlessly over the past few years about property purchases made in bitcoin. But what many reports leave out is that nearly every time a real estate transaction involving the digital currency closes, it is converted back to cash because sellers don't want to gamble with volatile exchanges.


NEWS YOU COULD USE
You Can't Deduct the Ballgame, But What About the Beer?
 
The Internal Revenue Service is working on guidance that would clarify the deductibility of expenses for client meals under the new tax law, The Wall Street Journal reports. According to the report, this guidance is expected to say that the cost of business meals will be 50 percent deductible, even when those meals are purchased at events defined as entertainment, such as ballgames, as long as the cost of the food is documented separately from the cost of the entertainment.


GLOBAL PERSPECTIVES
Latin America Agrees to Standardize Ethics Rules
 
The National Association of REALTORS® is helping to foster ethical practices on a global scale, signing an accord last week with a coalition of Central and South American nations to reaffirm a commitment to the Code of Ethics in the region. The move came during the III Latin American Real Estate Congress, a meeting of the Confederación Inmobiliaria Latinoamericana (CILA) and the Costa Rica Chamber of Real Estate Brokers, in San Jose, Costa Rica.


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