Residential

Northeast Existing-Home Sales Increased in August; Mixed Results in Other Regions

September 2018

WASHINGTON—Existing-home sales remained steady in August after four straight months of decline, according to the National Association of Realtors. Sales gains in the Northeast and Midwest canceled out downturns in the South and West. A bright spot for the residential markets was in the Northeast, which saw its August existing-home sales rise 7.6% to an…

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Realtors Testify on Merits Of Co-Op Disclosure Bill

September 2018

WHITE PLAINS—Several Realtors testified before the Westchester County Board of Legislators on Sept. 17 in support of the pending Co-Op Disclosure bill that would mandate cooperative boards render a decision in a certain time frame on an application as well as disclose reasons for an applicant’s denial. The testimony given prior to the start of…

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HGAR, LIBOR Boards Sign Key Agreement To Create New Regional MLS Next Year

September 2018

WHITE PLAINS—The Hudson Gateway Association of Realtors and the Long Island Board of Realtors have announced that their efforts to create a consolidated new regional Multiple Listing Service that would benefit approximately 40,000 subscribers had cleared a significant milestone. The two largest Realtor associations in New York State reported that their respective Boards of Directors…

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GDC Celebrates Fort Hill Grand Opening

September 2018

PEEKSKILL—Ginsburg Development Companies joined with Peekskill and Westchester County officials on Sept. 12th for the Grand Opening of GDC’s latest luxury development—Fort Hill Apartments at The Abbey Inn. The $64.5 million mixed-use project is transforming a former convent property into a resort enclave featuring 178 one- two- and three-bedroom rental apartments as well as a…

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RE/MAX Town & Country Opens in Fishkill

September 2018

FISHKILL—RE/MAX Town & Country Broker/Owner Howard Payson announced recently the scheduled Grand Opening Day on Sept. 15th of the new RE/MAX Town & Country real estate office located at 584 Rt. 9 in Fishkill. A celebratory Dutchess County Regional Chamber of Commerce Ribbon-Cutting Ceremony was scheduled to be held on Sept.17th. “The RE/MAX brand is…

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WRO to Honor Former HGAR President Botsoe

September 2018

NEW ROCHELLE—Westchester Residential Opportunities (WRO) will honor HGAR’s 2017 President Dorothy Botsoe at its gala set for Wednesday, Oct. 10 from 6 pm. to 9:30 p.m. at the VIP Country Club in New Rochelle. Botsoe is the principal broker of Dorothy Jensen Realty, Inc. in White Plains. Last year, Botsoe became the first black president…

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Yonkers IDA Approves Perks for Major Waterfront Project

September 2018

YONKERS—New York City developer Extell’s proposed $502-million mixed-use waterfront project here has received approximately $21.3 million in incentives from the Yonkers Industrial Development Agency. Yonkers IDA officials stated that the incentives granted to Extell is the largest package of incentives offered by the authority in its history. The Yonkers IDA conveyed the perks to Extell…

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Nunan Named COO of Houlihan Lawrence

September 2018

RYE BROOK—Houlihan Lawrence has announced the appointment of Elizabeth Nunan, a 20-year veteran of the company, as chief operating officer. Nunan, who spent 20 years at Houlihan Lawrence heading its Global Business Development team, most recently worked as the executive vice president of Member Services at Leading Real Estate Companies of the World (LeadingRE), an…

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NAR Chief Economist Debunks Fears of Severe Market Slowdown

August 2018

WASHINGTON—American financial and lending systems look vastly different nearly a decade after the defining moments of the Great Recession, thanks in part to safe and sound lending and regulatory policy reforms, strongly supported by the National Association of Realtors. Today, home prices are at or approaching record highs in many markets, and mortgage default and…

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NAR: Northeast Existing-Home Sales Slip 8.3% in July

August 2018

WASHINGTON—Existing-home sales subsided for the fourth straight month in July to their slowest pace in over two years, according to the National Association of Realtors. The West was the only major region with an increase in sales last month. Total existing-home sales, https://www.nar.realtor/existing-home-sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops,…

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Latimer Hopes Deal is Worked Out On Co-Op Disclosure Legislation

August 2018

WHITE PLAINS—In an exclusive interview with Real Estate In-Depth, Westchester County Executive George Latimer said he is hopeful that issues can be addressed in the next few months to allow a bi-partisan co-op disclosure bill to come before him for signature. County Executive Latimer, while not taking sides in the debate, noted that Realtors and…

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RE/MAX Edge Opens Second Office in Brooklyn

August 2018

NEW YORK—RE/MAX Edge recently opened its second office in Brooklyn with a ribbon cutting ceremony, Open House and community celebration. The newly opened office, located at 9425 3rd Ave. in Bay Ridge, Brooklyn, is the second full service real estate location for Broker/Owner Michael Napolitano and will provide comprehensive residential and commercial real estate services…

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Garson Brothers Firm Breaks Ground On The Cove at Library Lane Project

August 2018

MAMARONECK—Developers Brett and Tosh Garson surrounded by 40 friends, family and business associates hosted a groundbreaking ceremony for its newest luxury boutique project located at 145 Library Lane. Congratulatory remarks were given by New York State Senator Shelley Mayer, and Lisa Urban representing New York State Assemblyman Steven Otis. The Cove at Library Lane will…

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Developer Elk Homes Launches Sales Of Mamaroneck Luxury Townhomes

August 2018

MAMARONECK—Elk Homes, a Rye-based developer of high quality rental and multi-family housing, has announced the start of sales of Coastal Court, an exclusive collection of luxury townhomes in the heart of Downtown Mamaroneck. Coastal Court features three townhome residences each with two bedrooms, two-and-a-half baths and 9- and 10-foot ceiling heights throughout. Two of the…

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Rand Realty Teams Up with N.J.’s Tri-County Realty

August 2018

NANUET—Better Homes and Gardens Rand Realty reported that it continues to grow its Northern New Jersey operations, following its Wayne office’s acquisition of Tri-County Realty, which was located in Wayne and owned by Joseph Palermo, a broker/salesperson. “I’ve had the privilege of leading my brokerage for 20 years, and I’m grateful to be given the…

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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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U.S. Metro Home Prices Climb to New All-Time High

August 2018

WASHINGTON—Amidst staggeringly low inventory levels in much of the country during the second quarter, existing-homes sales cooled and home prices maintained their robust level of appreciation, according to the latest quarterly report by the National Association of Realtors released on Aug. 8. Last quarter, the San Francisco metro area joined the San Jose metro area…

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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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