WASHINGTON—Nearly half of Realtors—48%—said home buyer interest had decreased due to the coronavirus outbreak, according to a new survey from the National Association of Realtors released on March 19. That percentage tripled from a week earlier when it stood at 16%. Almost seven in 10 Realtors—69%—said there’s no change in the number of homes on…
Read MoreWASHINGTON—The U.S. Senate unanimously passed a $2-trillion COVID-19 compromise economic relief package on March 25. The bill now goes to the U.S. House, where it is expected to pass, and President Trump has said he will sign the much-needed measure into law. The National Association of Realtors reports the bill includes $350 billion for the…
Read MoreALBANY—The New York State Association of Realtors posted online the latest guidance regarding the regulations impacting the real estate industry in connection with Gov. Andrew Cuomo’s executive orders in connection with preventing the spread of the Coronavirus. The FAQ (Frequently Asked Questions) issued by NYSAR effective at 5 p.m. on March 24 answered a host…
Read MoreWASHINGTON—The U.S. Department of Housing and Urban Development has awarded more than $3 million to fair housing organizations in New York State, including a total of $425,000 to White Plains-based Westchester Residential Opportunities, Inc. to confront violations of the nation's landmark Fair Housing Act and help end housing discrimination. HUD awarded a total of more…
Read MoreNEW YORK— The Long Island Board of Realtors, Inc. and the Hudson Gateway Association of Realtors, Inc. announced on March 24 that the first regional MLS for the New York Metro area—OneKey MLS—is now live for Realtor use. OneKey MLS offers real estate professionals more coverage, precise and accurate data. A consumer-facing website is set…
Read MoreWHITE PLAINS—The real estate industry, except for those undertaking limited virtual business, was all but shut down by New York Gov. Andrew Cuomo effective 8 p.m. Sunday, March 22 in an attempt to prevent the further spread of the Coronavirus. The Executive Order issued on March 20 mandated the temporary closure of all in-office personnel…
Read MoreALBANY—New York State Comptroller Thomas P. DiNapoli issued a revised revenue projection for the 2020-2021 state budget that estimates tax revenue will be at least $4 billion below the projections in the Executive Budget of $87.9 billion if a mild recession results from the novel coronavirus pandemic. He also offered one alternative scenario if a…
Read MoreA Lifetime of Volunteering After spending 32 years working with the New York City Housing Authority, it’s no surprise that Amanda Martinez has a knack for finding people homes. The Better Homes and Gardens Rand Realty agent actually started her real estate career just two years ago in the brokerage firm’s Goshen office, but has…
Read MoreWHITE PLAINS—Non-profit fair housing agency Westchester Residential Opportunities, Inc. reported on March 9 it had filed suit against the ownership and manager of the 370-unit Tor View Village Apartments in Garnerville for alleged violations of federal, state and county fair housing laws. WRO charges in its litigation that individuals with mental disabilities were the subject…
Read MoreWHITE PLAINS—As governments across the globe deal with the spread of the Novel Coronavirus—or COVID-19—the crisis hit home earlier this week when it was learned that an attorney from New Rochelle tested positive for the virus. On March 4, Gov. Andrew Cuomo confirmed reports that in addition to the 50-year-old attorney, three members of his…
Read MoreCORNWALL ON HUDSON—The Hudson Gateway Realtor Foundation, the charitable arm of the Hudson Gateway Association of Realtors, recently presented a $3,000 donation check to the Food Bank of the Hudson Valley, based here. The Food Bank of the Hudson Valley is dedicated to alleviating hunger, while preventing the waste of wholesome food. It is a…
Read MoreELMSFORD—Locally-based Robert Martin Company LLC announced on Feb. 25 it had signed a 10,000-square-foot lease for a new child care center at The Elm, a new luxury rental mixed-use building located adjacent to the Saw Mill Parkway in Elmsford. The new child care center, which is expected to have its grand opening this summer, will…
Read MoreWASHINGTON—The United States homeownership rate has recently seen a rebound to 65.1% in the fourth quarter of 2019 from a low of 62.9% in the second quarter of 2016. While the increase in the overall homeownership rate is encouraging, there continues to be a significant racial homeownership gap in America that needs to be addressed.…
Read MoreBRONXVILLE—Locally-based Park Sterling Realty reports that the majority of the sales force of longtime Hastings-on-Hudson residential brokerage Peter J Riolo Real Estate, including its co-owner and president Peter J. Riolo, Jr., have joined the firm. Leah Caro, co-owner of Park Sterling Realty, states that Peter J. Riolo Jr., along with office manager Sharlene Forman and…
Read MoreTOWN OF WALLKILL—The golf course industry nationwide and in the New York metro region continues to struggle with declining memberships and revenues. A host of facilities in the Hudson Valley have turned to either outright sale or multifamily development on their course properties to increase revenues. These deals in some cases are geared to maintaining…
Read MoreNEW YORK—After being selected as the winning developer from a Request for Proposals issued by The New York Botanical Garden in the Bronx, Douglaston Development of New York City reports it will begin construction this year on a two-phased mixed-use project a block from the facility’s 250-acre grounds. Douglaston is entering into a 99-year lease…
Read MoreSection 1302 of the New York State Real Property Actions and Proceedings Law (RPAPL) has been recently amended to include a new sub-section 1302-A. The result of the revised law is to prohibit a defendant from waiving the defense that the plaintiff lacks standing to bring the foreclosure action. This prohibition extends even after the…
Read MoreALBANY– Two bills sponsored by New York State Sen. Pete Harckham (D, WF-40th District) that will study the use of tax exemptions and the burdens they cause to municipalities and taxpayers were passed on Feb. 11 by the State Senate. Both bills now await passage by the State Assembly and approval from Gov. Andrew M.…
Read MoreTARRYTOWN—The Hudson Gateway Association of Realtors has re-launched its Young Professionals Network group for 2020, following a two-year hiatus. YPN, which was originally established by the National Association of Realtors in 2006, is tasked with helping the younger generation of Realtors build a stronger link with the real estate industry and expand networking and business…
Read MoreNEW ROCHELLE—Mill Creek Residential of Boca Raton, FL has acquired a little more than two acres of land that housed the former Blessed Sacrament elementary school and will develop a new eight-story 334-unit multifamily project at the site. The sale of the property was reported by commercial brokerage firm CBRE on Feb. 5, which represented…
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