When Brian Tormey, President of TitleVest Agency in Manhattan, attended HGAR’s Members Appreciation Day in October, he had no idea it would end with him being named the Association’s Affiliate Member of the Year. “I was completely surprised, and I am truly honored,” he said. “I really never expected this.” Tormey has been an Affiliate…
Read MoreWASHINGTON—An overwhelming majority of metro markets saw home price gains in the third quarter of 2022 despite mortgage rates that approached 7% and declining sales, according to the National Association of Realtors’ latest quarterly report released on Nov. 10. Forty-six percent of the 185 tracked metro areas registered double-digit price increases, down from 80% in…
Read MoreSANTA CLARA, Calif., Nov. 7, 2022 /PRNewswire/ -- A record number of Americans became real estate agents in recent years. It can be a challenging career for newcomers, and the early struggles to find success means only 4 in 10 new real estate professionals are confident about having a long-term career in real estate, according…
Read MorePORT CHESTER—The Hudson Companies announced on Nov. 9 that it had closed on the acquisition of a fully-entitled development parcel at 27-45 North Main St. and 28 Adee St. in the Village of Port Chester. Company officials said plans for the site call for a mix of rental housing, retail space, and community facilities. The…
Read MoreWASHINGTON—When compared to a year ago, the share of first-time home buyers dropped to a record low, while the age of a typical first-time buyer increased to an all-time high, according to a report released on Nov. 3 by the National Association of Realtors. The median distance buyers moved from their previous homes more than…
Read MoreWASHINGTON—When it comes to real estate technology, Realtors said that eSignature, lockbox, and apps and technology from their local multiple listing service were the most impactful tools for their businesses this past year. These findings appear in the 2022 Technology Survey from the National Association of Realtors released on Nov. 1. The survey examined NAR…
Read MoreNEW ROCHELLE—Building on the leasing success of The Stella luxury high-rise, the development team of LMXD, an affiliate of L+M Development Partners, and WBP Development, have announced the debut of Twenty Five Maple, a boutique mid-rise residential rental apartment building in the heart of downtown New Rochelle. The property, currently under construction, will feature 184…
Read MoreNEW ROCHELLE—City of New Rochelle and Westchester County officials joined with the Cappelli Organization recently to celebrate the grand opening of 3THIRTY3, a 28-story tower featuring 285 luxury apartments. Located at 333 Huguenot St. in the heart of downtown New Rochelle, 3THIRTY3 has seen strong demand. Since the start of leasing a few months ago,…
Read MorePORT CHESTER—It appears that plans to redevelop the long-shuttered United Hospital property off Route 1 in Port Chester can finally proceed to construction in 2023 after nearly two decades of false starts and community opposition that prevented shovels turning dirt on the venture. Rose Associates and BedRock Real Estate Partners announced they recently secured final…
Read MoreWASHINGTON—Pending home sales fell for the fourth consecutive month in September, the National Association of Realtors reported on Oct. 28. All four major regions recorded month-over-month and year-over-year declines in transactions. The Pending Home Sales Index (PHSI) slumped 10.2% to 79.5 in September. Year-over-year, pending transactions slid by 31.0%. An index of 100 is equal…
Read MoreWASHINGTON—The National Association of Realtors has notified the Hudson Gateway Association of Realtors that it will bestow the PLATINUM Global Achievement Program Award for 2022 to HGAR for its global services initiatives undertaken by its Global Business Council at a national conference in Orlando in a few weeks. The PLATINUM Global Achievement Program award is…
Read MoreNEW YORK—As Manhattan’s luxury real estate market continues to rebound, top minds in the industry will come together on Nov. 2 at Chelsea’s High Line Nine to take an in-depth look at the state of the market, discuss top trends, and provide analysis and predictions for the first quarter of 2023 and beyond. The program,…
Read MoreWASHINGTON—The Federal Housing Finance Agency announced on Oct. 24 targeted changes to Fannie Mae’s and Freddie Mac's guarantee fee pricing by eliminating upfront fees for certain borrowers, including first-time homebuyers, and affordable mortgage products, while implementing targeted increases to the upfront fees for most cash-out refinance loans. As part of the pricing changes stemming from…
Read MoreWASHINGTON—Existing-home sales fell in September, the eighth month in a row of declines, according to the National Association of Realtors. Three out of the four major U.S. regions notched month-over-month sales contractions, while the West held steady. On a year-over-year basis, sales dropped in all regions. Existing-home sales in the Northeast dwindled 1.6% from August…
Read MoreWHITE PLAINS—Home sales continued to decline in the third quarter of this year as the New York City and Hudson Valley markets grapple with stubborn low inventory levels, high inflation, rising interest rates and home prices. Overall home sales in the region fell in the fourth quarter of 2021 and now in the first three…
Read MoreNEW YORK—The controversial Bruckner Boulevard rezoning proposal that was supported by city leaders and labor unions, but was opposed by some community advocates, including Community Board 10, was passed unanimously by the New York City Council on Oct. 12 by a 48-0 vote. The approval is a victory for New York City Mayor Eric Adams,…
Read MoreSANTA CLARA, CA— September data confirms a fall cooldown has come to the rental market, as national rent growth dropped to its lowest annual pace (+7.8%) since June 2021, according to the Realtor.com Monthly Rental Report released on Oct. 13. In another sign of more typical seasonal moderation than last year, the U.S. median rental…
Read MoreThe Bronx saw record dollar volume and the second most single-family home transactions ever recorded with $1.54 billion spent over 189 transactions. These were slight increases over the second half of 2021 and significant increases year over year. The overall increase in activity is an indication of the upside and opportunities found in the Bronx.…
Read MoreNEW YORK—Regional Realtor associations from New York, New Jersey and Connecticut are joining forces to present the Global Real Estate Summit NYC on Thursday, Oct. 20, bringing together top minds in the industry to discuss emerging trends and share best practices for leveraging opportunities in the global marketplace. The summit, now in its 16th year,…
Read MoreNANUET—Howard Hanna | Rand Realty reported on Oct. 11 it had acquired Murphy Realty Group, located at 304 Wall St. in Kingston in Ulster County. The firm’s entrance into Ulster County, NY, adds more than 40 hand-selected local agents, well-known for their experience and knowledge in the area, in an office recognized for more than…
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