Residential

First Ever HGAR Cook-Off Event Raises Over $10K for RPAC

December 16, 2021

BRIARCLIFF MANOR—The savory aroma of old-fashioned home cooking filled the air, while a line of silver serving trays overflowed with piping hot, delectable selections of meatballs and chili at The Briarcliff Manor recently. HGAR’s first ever “Chili-Meatball Cookoff,” planned by the association’s RPAC Committee, brought in more than 60 hungry participants and raised more than…

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NAR Predicts Higher Home Sales, Prices and Rates in 2022

December 16, 2021

WASHINGTON—As part of the National Association of Realtors’ Real Estate Forecast Summit held on Dec. 15, real estate economists and experts predict a continued strong market, marginal improvement in the nation’s for-sale inventory crisis and higher interest rates. The virtual program began with an opening address by 2022 NAR President Leslie Rouda Smith, followed by…

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Five Questions With NAR Chief Economist Lawrence Yun

December 16, 2021

The Delta variant surge and the emergence of the Omicron COVID-19 variant, as well as high inflation, have many business leaders nervous heading into 2022. The residential real estate sales market has been booming in the United States, thanks to strong demand and low borrowing rates. What’s in store for the residential and commercial markets…

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Realtors Expect Robust, Not Supercharged Housing Market in 2022

December 16, 2021

NEWBURGH—The consensus from a panel of veteran New York Realtors is that while some headwinds exist for the housing market in 2022, conditions are favorable for continued strong sales and rising prices. One panelist said that despite a slowdown in sales, “there is still a lot of meat on the bone” in the current strong…

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NAHREP Holds Annual Sales Awards Gala

December 15, 2021

NEW ROCHELLE—The National Association of Hispanic Real Estate Professionals (NAHREP) Westchester Chapter held its Annual Sales Award Gala at the Glen Island Harbour Club in New Rochelle on Nov. 10. The organization handed out its major awards and also announced that Jose "Joe" Maymi, Howard Hanna | Rand Realty will be serving as NAHREP 2022…

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Governor Signs New Loft Protection Law

December 8, 2021

ALBANY—New York State Gov. Kathy Hochul announced on Dec. 7 the recent enactment of legislation (S.6950/A.7667) that makes it unlawful to disrupt or fail to provide essential services and habitability for interim multiple dwelling units and allows tenants to pursue a claim in New York City Housing Court. The bill, which was signed into law…

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New York State to Launch $539 Million Homeowners Assistance Fund

December 7, 2021

ALBANY—New York Gov. Kathy Hochul announced on Dec. 6 that New York State is the first state in the nation to receive U.S. Department of the Treasury's approval to launch its Homeowner Assistance Fund, a program that will provide up to $539 million to help eligible homeowners avert mortgage delinquency, default, foreclosure, and displacement. Applications…

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Rep. Maloney Says SALT Cap Reform is on the One-Yard Line

December 6, 2021

BEDFORD HILLS—At a press conference earlier today (Dec. 6), U.S. Rep. Sean Patrick Maloney (D-18) expressed confidence that the reform of the unpopular SALT Cap is at hand. There have been reports that Senate Democrats are at odds over the particulars of how to reform the SALT Cap, which is to be part of President…

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FHFA Raises Conforming Loan Limits for 2022

December 1, 2021

WASHINGTON—The Federal Housing Finance Agency (FHFA) today announced the conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac (the Enterprises) in 2022. In most of the U.S., the 2022 CLL for one-unit properties will be $647,200, an increase of $98,950 from $548,250 in 2021. The market area of the Hudson…

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Ossining, Haverstraw Win $10-Million Downtown Revitalization Awards

November 23, 2021

OSSINING—Downtown revitalization efforts in the Village of Ossining and across the Hudson in the Town of Haverstraw each got a $10-million infusion of cash. New York Gov. Kathy Hochul announced at an event held at the Joseph G. Caputo Community Center here on Nov. 22 that Haverstraw and Ossining will receive $10 million each in…

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U.S. Existing-Home Sales Inch Up 0.8% in October; Northeast Sales Declined by 2.6%

November 23, 2021

WASHINGTON—Existing-home sales increased in October, marking two straight months of growth, according to the National Association of Realtors. Two of the four major U.S. regions saw month-over-month sales climb, one region reported a drop and the fourth area held steady in October. On a year-over-year basis, each region witnessed sales decrease. Existing-home sales in the…

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City, County and State Officials Celebrate Completion of $53.5M Project in Yonkers

November 22, 2021

YONKERS—City of Yonkers, Westchester County and New York State officials joined with the Municipal Housing Authority for the City of Yonkers and The Community Builders recently to celebrate the completion of 172 Warburton at The Ridgeway, a new $53.5-million mixed-income residential community in Southwest Yonkers. 172 Warburton at The Ridgeway continues the strong partnership between…

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Bronx Housing Market Thrived in 2021; Activity to Remain Strong in 2022

November 18, 2021

Bronx's thriving real estate market showed no signs of slowing in the third quarter of 2021. The dwindling housing supply and rising demand have resulted in a steady flow of transactions throughout the summer months. The Bronx has also been one of the hardest hit by the COVID-19 pandemic, with the highest job losses among…

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A Conversation With Bronx Borough President-Elect Vanessa Gibson

November 18, 2021

Real Estate In-Depth recently interviewed and posed “Five Questions” to New York City Council Member and former New York State Assemblywoman Vanessa L. Gibson, who will be taking office in January 2022 as the new Borough President of the Bronx, succeeding Ruben Diaz Jr. who decided not to run for re-election after serving three terms.…

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NAR Announces New MLS Guidance That Reinforces Greater Transparency

November 16, 2021

CHICAGO—The National Association of Realtors announced on Nov. 15 the adoption of changes to its guidance for local Multiple Listing Service broker marketplaces that reinforce greater transparency for consumers. The changes ensure disclosure of compensation offered to buyer agents, ensure listings are not excluded from search results based on the amount of compensation offered to…

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