WASHINGTON—As promised the Trump Administration unveiled a tax reform plan on Wednesday (April 26) that at first blush has some benefits and some drawbacks for the real estate industry. While representatives of the residential sector are pleased that the Trump economic plan does not tamper with the Mortgage Interest Deduction, the National Association of Realtors…
Read MoreWASHINGTON—The Trump Administration’s decision earlier this week to impose tariffs or duties on Canadian imported lumber could have significant impacts on prospective new homebuyers as well as the U.S. economy, the National Association of Home Builders warns. Earlier this week, the Trump Administration announced it was imposing tariffs on imported Canadian lumber ranging from 3.02%…
Read MoreWestchester County is vibrant and spring always ignites a sense of urgency in the residential sales market. Buyer demand is high and sellers who have priced their homes wisely have seen them sell quickly. However, overvalued homes sit on the market for some time. The strong buyer demand, combined with low for-sale inventory, have fueled…
Read MoreWHITE PLAINS—Hudson Valley Realtors are overwhelmingly confident the heady times of strong sales and rising prices will continue throughout this year. However, there is also a consensus that continued declines in for-sale inventory will limit buyer options and could put a damper on buyer demand sometime in the future. First quarter home sales in the…
Read MoreWASHINGTON—Growing consumer interest and demand for greener, more sustainable properties is driving a dialogue between Realtors and homebuyers and sellers. Over half of Realtors find that consumers have interest in real estate sustainability issues and practices, according to the National Association of Realtors’ recently released “Realtors and Sustainability” report. The report, stemming from NAR’s new…
Read MoreWHITE PLAINS—Statistics released by the Westchester County Clerk’s office on April 10 point to a falling market share for foreclosed and distressed properties in Westchester County. Westchester County Clerk Timothy C. Idoni reported that foreclosure filings in 2016 were down 54.8% from their all-time high in 2009 (3,123), but judgments on foreclosure actions last year…
Read MoreWHITE PLAINS— High sales rates, a sharp decline in inventory, and an uneven pattern of price increases across the region marked 2017’s first quarter entry to the real estate market recovery of the past five years, according to the recently released “2017 First Quarter Residential Real Estate Sales Report for Westchester, Putnam, Rockland and Orange…
Read MoreDaily Puzzle Solver Donna Riniti, senior managing director of Coldwell Banker’s 63-person Yorktown Heights office, credits a bad experience years ago with a Texas real estate agent for prompting her to get into the real estate business. Originally from Texas, Riniti decided to sell her home on her own prior to moving to the Northeast.…
Read MoreHAVERSTRAW—The Town of Haverstraw has joined a growing number of Rockland County municipalities to enact a “No-Knock” registry. The Haverstraw Town Board recently approved an amendment to its peddling and solicitor law and established a no-knock registry, according to a report in the Journal News. Town Supervisor Howard Philips told the newspaper that the amendment…
Read MoreWHITE PLAINS—Approximately 100 real estate professionals attended a program on April 4th at the Hudson Gateway Association of Realtors’ offices in White Plains that provided answers to the sometimes complex and often-times confusing regulations surrounding Section 8 housing and Source of Income legislation. The “Breakfast with Benefits” program entitled “Common Myths About Section 8 Housing”…
Read MorePersonal assistants, although typically unlicensed, can provide an enormous benefit to Brokers and Office Managers in performing necessary administrative tasks. There are instances in which a personal assistant may also be licensed as either a Salesperson or Associate Broker, and work in that capacity as well. However, those types of rare instances invoke tax and…
Read MoreWASHINGTON—The National Association of Realtors is urging Realtors as well as consumers to the pending expiration of the National Flood Insurance Program on Sept. 30. NAR officials warn that a possible program expiration would harm consumers and threaten the health of the residential real estate market. While NAR is working closely with federal regulators and…
Read MoreYONKERS—While some major multifamily construction projects in Yonkers have already broken ground, the City Council and the Yonkers Industrial Development Agency have recently granted approvals for a host of new development ventures in the city. The Yonkers City Council voted on March 21 to rezone 705 Bronx River Road from commercial to residential use, which…
Read MoreHAVERSTRAW—Rockland County Executive Ed Day has a simple but stern warning to landlords who operate illegal apartment units: “We are coming to get you and when we find you it is not going to be a simple matter of a $250 fine. The fine is going to be significant.” As part of a multifaceted codes…
Read MoreWHITE PLAINS—Longtime residential development firm Ginsburg Development Companies of Valhalla recently unveiled its most recent addition to its multifamily portfolio—the newly renamed “The Metro” in Downtown White Plains. GDC Principal Martin Ginsburg took the wraps off his firm's 124-unit, 12-story asset at 25 Martine Ave. at an event held on March 20th. The firm acquired…
Read MoreLARCHMONT—Residential brokerage firm Houlihan Lawrence reported recently it was designated the exclusive sales and marketing agent for The Cambium condominium property. Sales for the residential development will now be led by agent Mary Gail Barry of Houlihan Lawrence. Developed by Byron Place Associates, LLC, The Cambium—located at 10 Byron Place—brings the luxury of Manhattan lifestyle…
Read MoreHARRISON—Stillman Property Management, a full-service property management company based in Harrison, announced it has been selected to provide management for new properties in Westchester and Fairfield counties. The Westchester County properties added to Stillman’s client roster include: 15 South Division St., a commercial and residential mixed-use building in New Rochelle; Stonecrest, an eight-story cooperative residential…
Read MoreWHITE PLAINS—Westchester County officials announced on March 9th that applications were being accepted for more that 30 new, fair and affordable homes in Westchester. The available properties are single-family homes and condominiums, ranging in size, from one to five bedrooms. All of the homes are in good condition and located in: Bedford, Buchanan, Cortlandt, Harrison,…
Read MoreWASHINGTON— An improving economy, multiple years of strong job growth and the notable increase in home values in most markets fueled a greater share of purchases from Generation X households over the past year. That new finding is according to the National Association of Realtors 2017 Home Buyer and Seller Generational Trends study, which evaluates…
Read MoreTARRYTOWN—The suburbs surrounding New York City, including Westchester County, are now in the throes of a multifamily development boom as major investors flock to downtown districts in White Plains, New Rochelle, Yonkers and Mount Vernon to build transit-oriented communities. A panel of real estate investors at an event staged by The Business Council of Westchester…
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