NYS Budget Agreement Includes Some Popular and Controversial New Housing Policies
The budget includes a host of measures to enhance housing development and tenant protections in New York City, including the new 485-x tax incentive.
HGAR Report: Demand for Homes in the Bronx, Hudson Valley Remained High in March; Sales and Inventory Still Below Normal as Prices Rose in all Regions
Today’s report by the Hudson Gateway Association of Realtors, based on data supplied by OneKey MLS, also indicates inventory levels declined among all property types in all regions.
Governor, Legislators Reach Agreement on Framework of Budget Deal
While specifics of the housing-related legislation were not released, City & State New York reports that sources indicate some carve-outs of the Good Cause Eviction proposal have angered tenant groups, while other provisions included have drawn the ire of landlords.
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Latest
FROM THE CEO’S DESK: HGAR Expands Global Footprint at MIPIM
Participating in MIPIM opens up a world of opportunities, directly and indirectly benefiting HGAR Members.
Pending Home Sales Ascended 3.4% in March
The Pending Home Sales Index—a forward-looking indicator of home sales based on contract signings—increased to 78.2 in March.
LEGISLATIVE AFFAIRS: Something Big Happened! Did You Feel it?
In the weeks leading up to heavy negotiations in Albany, HGAR personally educated more than two dozen elected officials on Good Cause Eviction and the most problematic aspects of valuing tenant protection over property rights.
PRESIDENT'S CORNER: Embracing Fair Housing, Building a Better Tomorrow
Fair housing is not merely a legal obligation or a moral imperative; rather, it is the very essence of creating spaces where every individual can thrive.
State’s Housing Policy Changes Draw Mixed Reactions from RE Industry and Housing/Tenant Advocacy Groups
A clear example of the compromise agreements is that some groups say the housing policy changes do not go far enough, while others say they are too restrictive.
A New Road for NAR
Under the new staff and member leadership, NAR is communicating more deliberately, sharpening its focus on the core mission of serving its members, and moving toward becoming a nimble organization.
Legal-Advocacy
LEGISLATIVE AFFAIRS: Something Big Happened! Did You Feel it?
In the weeks leading up to heavy negotiations in Albany, HGAR personally educated more than two dozen elected officials on Good Cause Eviction and the most problematic aspects of valuing tenant protection over property rights.
LEGAL CORNER: LLCs and Corporations: The Doctrine of Piercing the Corporate Veil
The most common entities that run the risk of losing the limited liability protection are small, closely held corporations and LLCs made up of family members or a small number of shareholders and members.
BARRISTER’S BRIEFING: April is Fair Housing Month—Time for a Refresher
New York has gone to great lengths to ensure that consumers are treated fairly. All licensees are now tasked with ensuring all members of the public are treated with equity to ensure that steering and all other forms of discrimination are rooted out and eliminated.
BARRISTER’S BRIEFING: Roll Out of the New Property Condition Disclosure Statement: What You Need to Know
The new PCDS includes new language that requires the disclosure of issues related to flooding, but most importantly, it removes the $500 credit/waiver, which would have been provided by the seller to the buyer if the seller failed or refused to provide the PCDS.
Market
Pending Home Sales Ascended 3.4% in March
The Pending Home Sales Index—a forward-looking indicator of home sales based on contract signings—increased to 78.2 in March.
Northeast Existing Home Sales Jumped 4.2% in March
Existing-home sales in the Northeast climbed 4.2% from February to an annual rate of 500,000 in March, ending a four-month streak where sales in the Northeast registered 480,000 units
U.S. Pending Home Sales Rose 1.6% in February; Northeast Suffered Slight Decline in Pending Transactions
The Northeast PHSI decreased 0.3% from last month to 63.4, a decline of 9.0% from February 2023.
Realtor.com: Renting Now Beats Buying in All of the Largest U.S. Metros
According to the Realtor.com report, the New York-Newark-Jersey City, NY-NJ-PA market posted a median rent of $2,852 in February, as compared to the Monthly Buy Cost of $4,995, for a savings of $2,143 and a 75% cost difference.
News
State’s Housing Policy Changes Draw Mixed Reactions from RE Industry and Housing/Tenant Advocacy Groups
A clear example of the compromise agreements is that some groups say the housing policy changes do not go far enough, while others say they are too restrictive.
A New Road for NAR
Under the new staff and member leadership, NAR is communicating more deliberately, sharpening its focus on the core mission of serving its members, and moving toward becoming a nimble organization.
Rockland County Schedules Section 8 Voucher Lotteries
There are six separate lotteries which will be conducted simultaneously and will result in six separate lists.
Northeast Existing Home Sales Jumped 4.2% in March
Existing-home sales in the Northeast climbed 4.2% from February to an annual rate of 500,000 in March, ending a four-month streak where sales in the Northeast registered 480,000 units
Viewpoints
FROM THE CEO’S DESK: HGAR Expands Global Footprint at MIPIM
Participating in MIPIM opens up a world of opportunities, directly and indirectly benefiting HGAR Members.
LEGISLATIVE AFFAIRS: Something Big Happened! Did You Feel it?
In the weeks leading up to heavy negotiations in Albany, HGAR personally educated more than two dozen elected officials on Good Cause Eviction and the most problematic aspects of valuing tenant protection over property rights.
PRESIDENT'S CORNER: Embracing Fair Housing, Building a Better Tomorrow
Fair housing is not merely a legal obligation or a moral imperative; rather, it is the very essence of creating spaces where every individual can thrive.
GUEST VIEWPOINT: Setting the Record Straight on Real Estate Transactions After Landmark Case
I’ve seen it alleged that NAR, local Realtor boards or multiple listing services set commissions. Commissions are already negotiable between clients and real estate agents.
People
SPOTLIGHT ON: Tim Bohlke
Bohlke credits his mother for opening his eyes to a real estate career.
Howard Hanna | Rand Realty’s Margo Bohlin Set to Guest Host on American Dream TV
Throughout the season, viewers will be treated to an insider’s look at Rockland County, guided by Bohlin’s expert eye.
Douglas Elliman Honors Top-Performing Agents at the Ellies
Nationwide, 37 Elliman agents and teams closed 47 deals over $25 million, including the two most expensive sales in Connecticut history.
Dr. Emmanuel Ilori Brings Expertise in Real Estate and Psychiatry to CENTURY 21 Realty Center
Dr. Ilori’s unique background in both real estate and psychiatry sets him apart as a valuable asset to the team.