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Westchester Realtors Hit Back on Reports of Troubled Market

August 2018

WHITE PLAINS—Westchester residential brokerage executives and industry analysts responding to multiple trade press reports of a troubled Westchester housing market caused by the impacts of the cap on state and local taxes, hit back saying demand is still high and prices are rising. Relying on the second quarter home sales market statistics released by the…

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City of Newburgh Files Federal Suit Over Water Contamination

August 2018

NEWBURGH—The City of Newburgh filed suit on Aug. 6 in the United States District Court for the Southern District of New York seeking to halt on-going contamination of the city’s water supply by cancer causing per- and polyfluoralkyl substances (PFAS) originating at Stewart Air National Guard Base and Stewart International Airport, now operating as New…

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Westchester Tries to Put Fair Housing Case in Rear View

August 2018

WHITE PLAINS—In a move that could eventually free up federal housing funding to county municipalities after being frozen for eight years due to the county’s fair housing battle with the U.S. Department of Housing and Urban Development, Westchester County Executive George Latimer has re-established the Westchester Urban County Consortium. The new consortium is comprised of…

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President Signs Flood Insurance Extension

August 2018

WASHINGTON—On July 31, President Donald Trump signed into law the “National Flood Insurance Program Extension Act of 2018” (S. 1182), which reauthorizes the Federal Emergency Management Agency to enter into new contracts for flood insurance through Nov. 30, 2018. The President’s action came after the U.S. Senate passed the short-term flood extension measure by an…

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Veteran Broker Says Walmart Looking for New Site to Replace White Plains Store

July 2018

WHITE PLAINS—While some city and business officials were surprised by Walmart’s decision to shutter its 180,000-square-foot Downtown White Plains location on Aug. 10, a veteran retail broker has seen it coming for some time. Martin Deitch, executive vice president with retail brokerage firm Aries, Deitch & Endelson of Hartsdale, NY, tells Real Estate In-Depth that…

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NAR: Severe Housing Shortage Not Releasing its Grip

July 2018

WASHINGTON— Existing-home sales decreased for the third straight month in June, as declines in the South and West exceeded sales gains in the Northeast and Midwest, according to a report released by the National Association of Realtors on July 23. The ongoing supply and demand imbalance helped push June’s median sales price to a new…

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New York State Hits Back Against Tax Reform Law

July 2018

NEW YORK CITY—New York Gov. Andrew Cuomo followed through on his threat and announced on Tuesday that New York State had filed a lawsuit against the federal government over what it termed as the unconstitutional federal tax reform law enacted earlier this year. The lawsuit contends the new SALT (state and local tax) cap was…

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The Fight to Ensure Fair Housing Must Continue

July 2018

TARRYTOWN—Approximately 150 Realtors and affiliated real estate professionals gathered at the DoubleTree Hotel in Tarrytown on July 12 to celebrate the 50th anniversary of the Fair Housing Act and to hear housing advocates press the point that while significant progress has been made, much work needs to be done to ensure fair housing for all.…

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State Judge Overturns New Title Insurance Marketing Regulations

July 2018

NEW YORK—Representatives of the title insurance and closing industries hailed a recent ruling by New York State Supreme Court Judge Eileen A. Rakower that turned aside recently enacted state regulations aimed at curtailing what the state termed as excessive marketing costs and other unscrupulous activity in the title industry. The ruling handed down on July…

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$136M Westchester Avenue Redevelopment Project Gets Preliminary Nod From IDA

July 2018

WHITE PLAINS—A plan to redevelop an underutilized stretch of Westchester Avenue in White Plains that will feature more multifamily development and some retail space in the downtown district is progressing. A proposal by Sabre Chauncy, WP, LLC to build 276 units of rental housing and nearly 25,000 square feet of retail space at 80-100 Westchester…

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Second Quarter Home Sales Lower in Most Hudson Valley Markets

July 2018

WHITE PLAINS—Second quarter home sales figures in the lower Hudson Valley region served by the Hudson Gateway Multiple Listing Service Inc. appear to be following a patten of deja vu in terms of price appreciation and constricting inventory. In most areas of the region the median sales price for a single-family residential home increased by…

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NAR Roundtable Tackles Fannie, Freddie Reform, Privatization

June 2018

WASHINGTON—With America’s homeownership rate struggling to match falling unemployment and increasing consumer confidence, protecting the benefits of the secondary mortgage market remains critical to the health of the overall housing industry. On June 22, the National Association of Realtors hosted a roundtable event examining the scope and status of comprehensive Government-Sponsored Enterprise, or GSE, reform,…

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Northeast Home Sales in May Buck National Trend

June 2018

WASHINGTON — U.S. existing-home sales fell for the second straight month in May, as only the Northeast region saw an uptick in activity, according to a report released on Wednesday by the National Association of Realtors. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, decreased 0.4% to a…

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Mid-Hudson is Mecca for Craft Brewing Industry

June 2018

ALBANY—A report touting the burgeoning craft brewing industry in New York State clearly shows that the Mid-Hudson region is the top market for this sector. A report released by Gov. Andrew Cuomo on June 14 noted that the Mid-Hudson Valley added the most new craft manufacturers statewide, with 93 new businesses opening in the past…

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HGAR Mourns Passing of Longtime Legal Counsel

June 2018

WHITE PLAINS—One of the key people who helped shape the modern-day Hudson Gateway Association of Realtors has passed away at the age of 75. Longtime Board Legal Counsel Edward I. Sumber died on June 5 in Palm Beach Gardens, FL. Real Estate In-Depth talked with association leaders from past and present who were in unison…

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Music is in the Air This Summer at Many Hudson Valley Venues

June 2018

Summer is coming and that translates to the feel of beach sand on bare feet, the aroma of dinner on the barbecue grill, and the sounds of everything from classic rock to jazz to country music filling concert halls throughout the Hudson Valley. Bands like Kansas, Poison, Yes, America, Jefferson Starship, Lady Antebellum and Justin…

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Metro-North President Talks Station Improvements, Capital Projects

June 2018

RYE BROOK—Metro-North President Catherine Rinaldi briefed members of the Commercial Investment Division of the Hudson Gateway Association of Realtors and the Business Council of Westchester on June  7 on the latest railroad initiatives, including the long-awaited improvements to the White Plains station. Rinaldi, who recently spoke before the Orange County Citizens Foundation on the needs…

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