November 2, 2022

Here's What You Need to Know this Week

The September housing data is out now. Click here to download your municipal report.
The 30-year fixed-rate mortgage interest rate jumped 3.94% in the past year. Learn more about the current rates and Freddie Mac's predictions.
Are you heading to Orlando for NAR NXT? Click here to build your schedule.

Top Story of the Week

Updated Lease and Seasonal Lease

This week, policies from S1368 begin to go into effect. Starting Nov. 3, business owners and rental property owners must maintain and register a Certificate of Liability Insurance of at least $500,000, which includes combined property damage and bodily injury to or death of one or more persons in any accident or occurrence. If the home is a multifamily home of four or fewer units, will be $300,000 when this portion takes effect in Feb. 2023.

Municipalities have begun adopting ordinances required by S1368 to implement procedures to enforce this law at the local level. To comply with S1368, NJ Realtors^® updated its New Jersey Standard Form of Residential Lease and Standard Form of Seasonal Lease, forms 125 and 142, and the forms are now available in the zipForms library.

VISIT THE FORMS LIBRARY

Being a Member Has its Perks

November/December Magazine Is Out Now!

Preview the 2022 Realtors^® Triple Play schedule and read up on some of this year's speakers in the latest issue of New Jersey Realtor^® Magazine. Also in this issue, wrap up President Robert White's term with him, prepare for the 2023 housing market, and learn more about the new zipForm features.

READ IT HERE

Submit Your COE Award Application

The 2022 NJ Realtors^® Circle of Excellence Sales Award application process is underway. All applications are due and must be approved by your broker/office manager by Jan. 9 at 5 p.m.

APPLY NOW

State of the State

In-Person Early Voting is Now Open

Election Day is next week on Nov. 8, but there's no need to wait until Election Day to vote. Early in-person voting began on Oct. 29 and will be open through Nov. 6. Your early voting location may be different from your Election Day polling place.

FIND YOUR EARLY VOTING LOCATION

Native American Heritage Month Resources

Read about the true story of Pocahontas.
Listen to a collection of Omaha Indian music, featuring works from the annual Omaha harvest celebration.
Attend the Native Cinema Showcase 2022 virtually which features films, documentaries, and children-friendly shorts by Indigenous filmmakers.

NJ Realtors^® Staff Picks of the Week

We're cheering on the Phillies, eating sushi from Akira in Moorestown, drinking La Colombe coffee, seeing Philadanco at the Kimmel Center, drinking blackberry sangria, going to the Liberty Science Center, and baking brown butter chocolate chip cookies.