WHITE PLAINS—The Westchester County Clerk’s office reported on Jan. 5 that foreclosure judgments reached record highs in 2015. A total of 1,178 judgments were entered last year, the highest in a decade. “The alarming increase in judgments recorded in Westchester County in 2015 is indicative of a foreclosure crisis that continues to linger,” reported Westchester…
Read MoreMADISON, NJ—NRT LLC, the nation's largest residential real estate brokerage company, announced on Jan. 13 that Joseph Valvano has been promoted to the role of president of Coldwell Banker Residential Brokerage in Connecticut and Westchester County. In his new position, Valvano will lead the company’s sales operations and business development, and oversee the daily operations…
Read MoreEditor’s Note: The following is the full text version of the 2015 Fourth Quarter Residential Real Estate Sales Report for Westchester, Putnam, Rockland and Orange Counties, New York released today by the Hudson Gateway Multiple Listing Service, Inc. WHITE PLAINS—The recovery of the real estate market in the lower Hudson region continued apace in 2015…
Read MoreNEW ROCHELLE—The New Rochelle City Council unanimously approved a new zoning plan on Dec. 8th that paves the way for millions of square feet of mixed-use development in the city’s downtown. The adoption of the Downtown Overlay Zone and Community Benefits Policy by the City Council on Tuesday evening concludes a year-long research, planning and…
Read MoreWHITE PLAINS—The Sisters of the Divine Compassion announced recently the completion of the sale of their Good Counsel property at 52 North Broadway in White Plains to WP Development NB LLC. The purchase price was not disclosed. A key element of the sale is the preservation and enhancement of the church on the property, the…
Read MoreWHITE PLAINS—Westchester County Executive Robert P. Astorino announced on Dec. 10th that 2015 was a banner year for the Westchester County Industrial Development Agency and the Local Development Corporation, which supported 14 projects with total private investment of more than $842 million. The IDA and LDC projects, which ranged from major residential buildings in downtown…
Read MoreWHITE PLAINS— Westchester County secured a key victory in what has become an acrimonious affordable housing settlement with the federal government recently when the U.S. Magistrate Gabriel W. Gorenstein ruled that the county had provided financing for enough units to meet its 2014 benchmark and that there was no basis for the county to be…
Read MoreWASHINGTON—Several markets across the country are poised for substantial growth in home prices and sales in 2016 – likely topping 2006 even, according to Realtor.com’s recently released housing forecast. Growing household formation, a strengthening job market, and low unemployment rates are good signs that can get more millennials, young Gen-Xers, and retirees moving. However, there…
Read MoreSLEEPY HOLLOW—With approvals in hand for its first phase of development, the developer of what is now being called the “Edge on Hudson” development at the former General Motors assembly plant property here expects to commence site work and necessary infrastructure upgrades in early 2016 to ready the site for what will be a massive…
Read MoreALBANY—Last month, New York State Association of Realtors CEO Duncan MacKenzie and NYSAR Government Affairs Director Mike Kelly attended a meeting with representatives from Gov. Andrew Cuomo’s office and the Division of Budget on an initial proposal to implement a statewide First-Time Home Buyer Savings Account program. The program, outlined in NYSAR’s 2015 legislative…
Read MoreThere is this really talented and cool guy with the patience of a saint. His name is John Jordan. He is affable, smart and really talented when it comes to his job as being editor of Real Estate In Depth...He is a great conversationalist, as one can imagine a "newspaperman" would be. There is only…
Read MoreWASHINGTON— Existing–home sales rebounded strongly in September following August's decline and have now increased year–over–year for 12 consecutive months, according to the National Association of Realtors. All four major regions experienced sales gains in September. Total existing–home sales, which are completed transactions that include single–family homes, townhomes, condominiums and co–ops, increased 4.7% to a seasonally…
Read MoreWARWICK—The Green Team Home Selling System in the Village of Warwick recently got on board with a national promotion designed to encourage people to honor our veterans by changing one light to green in a visible location at home or office as a symbol of appreciation and support for our veterans. Jen DiCostanzo, an associate…
Read MoreMORRIS PLAINS, NJ—The Weichert Family of Companies recently announced the start of the 37th Annual Weichert Toy Drive. Members of the community are invited to drop off new, unwrapped toys at the company’s sales offices through Dec. 11. The toys will be delivered throughout the holidays in conjunction with local charities that assist financially and…
Read MoreYORKTOWN HEIGHTS—Lou Cardillo of the Lou Cardillo Home Selling Team donated $500 to the Purple Heart Homes NY Downstate Chapter for the 5th Annual Veterans Thanksgiving Dinner. In July, Cardillo announced that he would be partnering with the Purple Heart Home NY Downstate Chapter and Carmel Town Councilwoman Suzi McDonough to continue the annual Veterans…
Read MoreSAN DIEGO, CA—Throughout 2015, the National Association of Realtors has enhanced and expanded upon its more than a decade old Realtor Safety program, developing new materials, creating additional resources and providing members with everything they need to feel empowered and confident in their personal safety. Once a week, NAR now shares safety tips via Facebook,…
Read MoreNEW YORK CITY—A total of 13 multifamily buildings in the Bronx have traded recently in the borough’s largest multifamily deal of the year. The Continental Portfolio, owned by Continental Properties of Chatham, NJ and institutional investors advised by J.P. Morgan Asset Management, was sold to an unnamed private investor for $90 million or more than…
Read MoreSUFFERN—The Crowne Plaza in Suffern will be the venue for the Rockland Economic Development Corp.’s 21st Annual Economic Development Awards luncheon on Friday, Nov. 20. The highly popular event will begin at 11:30 a.m. with a networking reception. The program will be highlighted by the official recognition of the REDC’s 2015 award winners. Award…
Read MoreAstorino Claims Vindication on Zoning NEW YORK—While Westchester County government officials say a recent ruling by the United Stats Court of Appeals for the Second Circuit offered “a major vindication” for the county’s position concerning local zoning and home rule, the court in fact sided with the U.S. Department of Housing and Urban Development on…
Read MoreThe Orange County real estate market is continuing to improve with regard to purchase offers accepted, closed sales and listings. There has been a marked increase in activity beginning this past spring after a slower period during a snowy and bitter cold winter. Listings have increased as have closed sales. Purchase offers accepted have risen…
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