Mar 22, 2020 6:40 PM
Bob Goldberg

We have been aggressively working the Hill on behalf of our members responding to a flurry of legislative activity aimed at providing economic relief from the COVID-19 virus.  We are committed to ensuring that lawmakers continue to take into consideration the real estate industry, including independent contractors and small business owners.  Below is a compilation of the letters we have sent this past week as well as the work we are doing with state associations to classify real estate services as essential services in emergency declarations.  We are also working with the Department of Labor to get clarification on calculation of employer thresholds for paid leave passed in the Families First Coronavirus Response Act.  The discussions with lawmakers will continue into next week and we appreciate any feedback you can give us on the impact of COVID-19 on your businesses and communities.  We had calls this week with several General Counsels from your firms as well as with representatives from your affiliated mortgage companies and their feedback has been very valuable.  We hope you and your families are staying safe.

  • Families First Coronavirus Response Act: Congress passed a bill this week that created emergency paid sick leave, as well as paid family leave in the case of school closures, for working families impacted by COVID-19.  Click here for impact on real estate industry.  NAR is working with industry partners and DOL to understand the calculation of employer thresholds for some of these paid leave benefits.
  • Relief for small business/ICs:  NAR sent a letter to Congressional leaders urging them to include support for self-employed professionals and other small business owners as well as a follow-up letter on this issue as Congress considers additional relief packages.  NAR also signed a coalition letter that would encourage Congress to provide readily accessible, unsecured credit to employers and self-employed individuals ofall sizes to ensure they have the cash to pay their workers, rent, and other costs during this crisis; 
    • suspend the filing of business returns and the payment of allbusiness taxes to the federal government for the duration of the pandemic; and amend the Tax Code to, among other items, restore the ability of businesses to carryback any net operating losses against previous year tax payments;
    • suspend the application of the Section 163(j) limitation on interest expense deductions for tax year 2020 to avoid penalizing businesses for borrowing during this crisis; and
    • suspend the Section 461(l) loss limitation on pass-through businesses to allow businesses to full deduct any losses they incur this year. 
  • Essential Real Estate Services:  NAR is working with state associations, many of whom are reaching out to their Governors to request that certain real estate services be deemed "essential services" during emergency declarations.  NAR is also working closely with ALTA and MBA whose members are also greatly impacted by county closures of recordation services.    
  • Multi-family:  NAR joined a coalition letter representing for-profit and non-profit owners, developers and others involved in the provision of affordable rental housing.  It asks for direct rental assistance for families who have income loss due to COVID-19, it cautions against blanket eviction moratoriums-feels they should be targeted to situations related to COVID-19 and provide relief for property owners in the form of mortgage or other financial obligation forbearance
  • 1031:  NAR sent a letter to Treasury to include deadline relief for 1031 like-kind exchanges 180-day completion deadlines. As you know there will be delays in settlements due to title companies and others closed during the outbreak.  Also, they should extend the 45-day period for identifying possible properties as exchange candidates. Relief for this program has been provided in the past during other presidentially declared disasters. 
  • SECURE Notarization Act: NAR is working with other trade associations and industry partners to support the "Securing and Enabling Commerce Using Remote and Electronic Notarization Act of 2020" (SECURE Notarization Act). NAR sent this letter to lawmakers in support of the bill.  This legislation would continue and expand access to remote online notary (RON). It would permit immediate nationwide use of RON, with minimum standards and provide certainty for the interstate recognition of RON. The SECURE Notarization Act builds on ongoing efforts of lawmakers to promote remote transaction options for consumers.
  • Opp Zones:  NAR sent a letter to the Treasury Department and the Internal Revenue Service to include deadline relief for the working capital safe harbor for Qualified Opportunity Funds with any forthcoming package of taxpayer relief measures. 
  • Open House Guidance:  NAR has issued guidance on open houses during the COVID-19 outbreak.


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Bob Goldberg, CEO
NATIONAL ASSOCIATION OF REALTORS®
Chicago IL
800-874-6500
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The Ocean City Board of REALTORS®
As REALTORS®, we subscribe to a higher standard of ethics than other licensees without membership within the REALTOR® organization.  Upon joining the Ocean City Board of REALTORS®, our members take an oath to adhere to the NAR Code of Ethics in all their business dealings.

Mission Statement
As the local voice for real estate, the Ocean City Board of REALTORS® provides a professional, ethical and fiscally responsible association that benefits its members and the public.

Our History
The Ocean City Board of REALTORS® is the only Board of REALTORS® in New Jersey whose geographic jurisdiction is limited to one city.  The Board was founded in 1920 and has been continuously serving the citizens, property owners, and guests of our resort since its inception.  Our membership consists of 27 offices and more than 500 members.

In The Community
Ocean City has more than 20,000 properties in our vibrant seaside city.  As Ocean City REALTORS®, we take great pride in our community, “America’s Greatest Family Resort”.  As such, our members do much more than help their clients buy, sell, or lease properties. 

Our REALTOR® members work to advance property rights, conduct charitable fundraising efforts, support local beautification projects, provide scholarships for Ocean City High School students, and address local issues through their work within our organization.

Ocean City Board of REALTOR® members work diligently to make our island resort community the best possible place to live — for a week, a summer season, or a lifetime.


The Ocean City Board of REALTORS® … dedicated to the highest standards in Ethics, Professionalism, and Technology.

Ocean City Wins New Jersey’s Favorite Beach Contest

For the 10th consecutive year, beachgoers chose Ocean City as "New Jersey's Favorite Beach" in a statewide poll.

Representatives of the N.J. Sea Grant Consortium announced the winners of the annual contest in a presentation on the Ocean City Music Pier on Friday morning.

The New Jersey Sea Grant Consortium  introduced the survey in 2008 to “inspire pride in and stewardship of New Jersey’s beaches while promoting a little healthy competition between New Jersey’s favorite beach towns.”

The contest is decided by online voters who are prevented from voting more than once. The contest included winners for the four coastal counties, and Ocean City was the top beach in Cape May County, in addition to being overall winner. Sea Isle City was second in Cape May County and second overall.

Ocean City in recent years has been named “Best Beach in America” and “Best Beach” in many other statewide polls. “America’s Greatest Family Resort” also has been recognized for its boardwalk, downtown, ecotourism, family destinations, women-owned businesses and more.

Read more …

Best Cities to Live in New Jersey

  • Old Tappan
  • Marlboro
  • Ocean City
  • Princeton
  • Highland Park
  • Madison

READ MORE!

The Ocean City Board of Realtors® is pleased to announce it is kicking off its 2023 Community Service Projects, with the Food Is Love drive to collect food, and household items. New this year, collections will include donations for the Humane Society of Ocean City. Donations will be collected now through February 28, 2023 and will be used to “Share Some Love” during this Valentine month.

The Food Is Love, Share Some Love winter food drive will collect non-perishable food items, laundry and dish detergent, as well as Shoprite and ACME gift cards, which will be donated to the Ecumenical Food Cupboard in Ocean City, NJ, to provide for local needy families.

Here is a brief list of some of the items that the Food Cupboard has identified in need of:

Peanut Butter, Jelly18-20oz container, Boxes of crackers, e.g., Ritz, Triscuit, Canned Fruit 15oz cans, Dried (Powdered) Milk, Manuchan/Ramen Noodles, Gain Laundry Detergent Small Bottles, Dawn Dishwashing Detergent - Small Bottles, Cereal 18 -20 oz Boxes, Tissues, Shop Rite or ACME gift cards.

New this year, the winter food drive will show some love for not only the two legged residents of Ocean City, but also for the four legged residents as well. Collections of donations for the residents at the Humane Society will be included in this year’s winter food drive:

Read more …

The Ocean City Board of REALTORS® is pleased to announce its fall community service project, a drive to collect coats, sweaters, scarves, hats, and other cold weather items. Donations will be collected now through November 22nd and will be used to give the gift of warmth for winter to those in need in Ocean City.

The Warmth for the Winter Drive will collect gently used or new items. Needed most is clothes and coats for men, hats, scarves, gloves and socks. Also hats, gloves, coats, and scarves for children. Blankets, sheets, and comforters are needed as well.

You are invited to clean out your closets at home and help others in the process. Would you be willing to sort through your unwanted clothing and set aside items that still have some use? The Ocean City Ecumenical Clothes Closet would appreciate your donations.

Donations can be dropped off at the office of the Ocean City Board of REALTORS®, 405 22nd Street.  (Office hours: Monday-Friday 9 a.m.-5 p.m.) We ask that all donations are placed inside a plastic bag, and plastic bags will be provided as needed.

“It’s time to switch over your wardrobe from summer to winter, we encourage our fellow REALTORS®, friends and neighbors to donate items that are gently used or new, that will provide warmth for the winter to families in need” said Gloria Votta, Chair, Community Services Committee, Ocean City Board of REALTORS®.

For more information- please contact Theresa Lombardo at 609-399-0128TheresaThis email address is being protected from spambots. You need JavaScript enabled to view it.

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