Residential

Pending Home Sales Rise Behind Gains in Midwest, West

April 2015

WASHINGTON—Pending home sales in February increased to their highest level since June 2013 as sizeable gains in the Midwest and West offset smaller declines in the Northeast and South, the National Association of Realtors announced on March 30. The Pending Home Sales Index, a forward-looking indicator based on contract signings, rose 3.1% to 106.9 in…

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Northeast Existing-Home Sales Fall More Than Six Percent in Feb.

April 2015

WASHINGTON—Existing-home sales increased modestly in February, but constrained inventory levels pushed price growth to its fastest pace in a year, the National Association of Realtors reported on March 23. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, rose 1.2% to a seasonally adjusted annual rate of 4.88 million…

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Realtors Predict a ‘Normal’ Spring Home Sales Market

April 2015

WHITE PLAINS—For the second year in a row, a harsh winter that featured significant snow, extreme cold and on many days biting winds kept many prospective homebuyers bundled up next to the fireplace and away from Realtor Open Houses. Despite the long winter of 2014-2015, homes sales in the four-county region of the Hudson Gateway…

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Existing U.S. Home Sales Turned Frosty in January

March 2015

WASHINGTON—Existing-home sales declined in January to their lowest rate in nine months, but the pace was higher than a year ago for the fourth straight month, according to the National Association of Realtors. All major regions experienced declines in January, with the Northeast and West seeing the largest sales decreases. Total existing-home sales, which are…

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Survey: Majority of Realtors Feel Safe on the Job

March 2015

WASHINGTON—A new survey from the National Association of Realtors released on March 2nd found 96% of Realtors have never been the victim of crime, but 40% have found themselves in situations where they have feared for their safety or the safety of their personal information. Some of the most common circumstances that resulted in fearful…

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Trion Adds Three Complexes To Westchester County Portfolio

March 2015

YONKERS—Trion Real Estate Management reported it is now managing three new residential complexes in Westchester, bringing its real estate management portfolio to more than 1,700 units throughout 26 properties. The Trion team was selected to take over the management of Whiteoak Condominiums in White Plains, Boulder Condominiums in Bronxville, and The Commons Cooperative in Peekskill,…

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Toll Brothers City Living Closes On Two Manhattan Properties 

March 2015

NEW YORK—Toll Brothers City Living, the urban development division of Toll Brothers, Inc., announced recently that the firm closed on two new properties at 100 Barrow St. in the West Village and two parcels located at 351-355 Broadway in Tribeca. “We’ve been working on these two deals for a considerable amount of time, and are…

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WRO Files Suit Against Village of Bronxville for Alleged Housing Discrimination in Zoning

March 2015

WHITE PLAINS—Westchester Residential Opportunities reported on Jan. 15 that it had filed suit in federal court here against the Village of Bronxville and developer Gateway Kensington LLC for illegal housing discrimination against families with children. WRO Executive Director Geoffrey Anderson stated, “Housing discrimination in all forms must be challenged, so that families and people of…

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Houlihan Lawrence Acquires Greenwich, CT Brokerage 

March 2015

RYE BROOK—Houlihan Lawrence announced on Feb. 23rd it had acquired Shore & Country Properties, a residential brokerage in Greenwich, CT. The Shore & Country acquisition comes on the heels of the recent announcement that the former Kelly Associates offices in Darien and Rowayton, CT have joined the Houlihan Lawrence network. In less than 18 months…

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County Brokers Deal on Affordable Units At Avalon’s Harrison Multifamily Project

March 2015

HARRISON—The Astorino administration announced on March 12 it had brokered a deal between the Metropolitan Transportation Authority, developer AvalonBay Communities and the Town of Harrison to set aside 5% of the planned 143 residential units to be developed on land adjacent to the Metro North Harrison train station here. The lack of affordable units at…

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Significant Changes Coming to Fair Lending Rules

March 2015

This column has frequently addressed issues of fair housing. Never previously addressed is the issue of fair lending. Realtors need a clear understanding of the significant changes that will become effective on August 1, 2015 when the TILA/RESPA final rule will become effective. What is TILA and What is RESPA? TILA is the Truth in Lending…

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GATEWAY PERSPECTIVES: Spring Thaw?

March 2015

Let’s hope so, (he said, knocking on a lot of wood). The title of my last article for this publication was “Deep Freeze.” In hindsight I should have called it “Deep Freeze with Several Snow Storms Thrown in for Good Measure,” as we were pummeled with snow storms every week and the bitter cold persisted.…

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Westchester Pavilion Mall to be Sold To Make Way for $275-Million Project

March 2015

WHITE PLAINS—The Westchester Pavilion shopping center, the current headquarters of the Hudson Gateway Association of Realtors, is under contract to be sold by Urstadt Biddle Properties Inc. to Lennar Multifamily Communities, LLC of Herndon, VA. Lennar, a subsidiary of Miami-based Lennar Corp., is proposing to demolish the 185,000-square-foot shopping center to make way for a…

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