“Diligence is the mother of good luck”, said Benjamin Franklin Definition of Due diligence : In real estate brokering, due diligence is essentially the "homework" phase. It is a specific window of time after a buyer’s offer is accepted where they get to thoroughly investigate the property, the legal paperwork, and the surrounding area to ensure they are getting exactly what they think...

Paul Kim Defeats Suk Jun Min to Secure Democratic Nomination for Pal Park Mayor • Paul Kim, the incumbent mayor of Palisades Park, has defeated Pal Park Councilman Suk Jun Min to officially secure the Democratic nomination for the upcoming Palisades Park mayoral race. • According to the unofficial tallies released by Bergen County for the New Jersey primary election held on June 2nd, Mayor Paul...

Hochul Bares Details On Second-Home Tax. • The tax would apply to an estimated 10,000 homes, Hochul’s office said on Thursday, down from an initial estimate of 13,000 homes. The larger figure was based on older data, a spokeswoman said. • Still, Hochul expects that the pied-à-terre tax would raise $500 million even with fewer homes taxed, her office said, which is the same figure she...

Presentation prepared by “Gemini” on AI & Future of the RE agent job     업무 수행 목적 ● 패러다임의 변화: 단순한 행정 업무 수행자에서 AI를 도구로 활용하는 '신뢰받는 조언자(Trusted Advisor)'로의 전환을 강조했습니다. ● 데이터 기반 통찰: 예측 분석(Predictive Analytics)과 24/7 가상 비서가 어떻게...

Gutter/Downspout/Grading ● Gutter Guiding rain and storm water off the roof and away from the foundation of the house— is essential to the home’s structural well being. That is, when the gutter is not kept clean and free from debris, pounding water along the foundation line erodes the soil and can seep down along the foundation, increasing the risk of basement leaks and structural...

What One Home Sale Tells Us About San Francisco’s Comeback. • A CONTEMPORARY HOUSE on San Francisco’s Russian Hill has sold for its full asking price of $24 million, property records show. The six-bedroom home went into contract a week after going on the market, said local MLS. • The speedy sale is a far cry from the last time the house went on the market, for $19.995 million in 2022. That...

How much do Real Estate Professionals earn Service Fees ? 1. Real Estate Brokerage Fee ● Commission is success-based fee - Report as Self-employee Income by 1099 - If sales contract is breached by seller or buyer? ( NJ Standard sales contract; item 27) ● When is RE commission earned? - Bring the parties together in a real estate transaction - Equitable Lien to the property ( NJ Standard Sales...

Office Demand Sees Biggest Rebound Since Pandemic. • The ”Office Demand Index (ODI)”—which tracks new in-person and virtual office tours—reached 79 points in the first quarter. This is an 18% increase from the previous quarter and a 13% increase compared to the same period last year, marking the highest level since the pandemic began – Impacted by AI, Finance, and Culture Industry...

Why are NJ home prices keeping up ? * Opening ● New Jersey's real estate market has significantly outperformed the national average over the last year, with prices rising approximately 5.4% to 7% while the national growth stalled at roughly 0.9%. ● This "NJ anomaly" is driven by a unique combination of extreme supply shortages and persistent demand from high-wage commuters. Here is an analysis of...

New Dedicated Agency Established to Prevent Real Estate Fraud. • New York City Mayor Eric Adams has established a dedicated agency to strengthen the response to home ownership fraud. On the 24th, Mayor Adams announced the creation of the city's first Office of Deed Theft Prevention (ODTP) under the Department of Finance (DOF). • The agency will be tasked with monitoring "deed theft"—real...