Residential

Existing-Home Sales Regain Momentum in September

November 24, 2015

WASHINGTON— 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…

Warwick Realty Firm Goes Green for Veterans

November 24, 2015

WARWICK—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…

Weichert, Realtors Launches 37th Annual Toy Drive Campaign

November 24, 2015

MORRIS 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…

Cardillo Donates to Purple Heart Homes NY

November 24, 2015

YORKTOWN 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…

NAR Offers Resources to Enhance Realtor Safety

November 23, 2015

SAN 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,…

Bronx Multifamily Portfolio Trades for $90 Million

November 22, 2015

NEW 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…

ROCKLAND: REDC Awards Luncheon Set for Nov. 20

November 22, 2015

SUFFERN—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…

U.S. Appeals Court Backs HUD on Fair Housing Funding

November 4, 2015

Astorino 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…

Increased Home Sales Activity Points to Improving Market

September 3, 2015

The 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…

Annual Members Day to Feature John Gidding Host of ‘Curb Appeal’ as Keynote Speaker

September 2, 2015

TARRYTOWN—HGAR’s 99th Annual Member Appreciation Day, set for Monday, Oct. 19 at the DoubleTree Hotel in Tarrytown, will feature John Gidding, host of HGTV’s “Curb Appeal,” as the keynote speaker. The free event, open to all HGAR members, is expected to draw more than 1,000 Realtors from the Bronx, Westchester, Putnam, Dutchess, Rockland and Orange…

John Lease Realtors Brokers Medical Marijuana Land Deal

September 2, 2015

HAMPTONBURGH—John Lease III, Broker/Owner of John J. Lease Realtors Commercial Division, announced that the firm brokered the sale of a 40-acre parcel on Neelytown Road in Orange County to Pharmacannis, which has been approved by New York State to grow and sell medical marijuana. The parcel was sold for $7.6 million and is in the…

HGAR Announces HQ Move to Source at White Plains

September 2, 2015

WHITE PLAINS—As first reported in the August edition of Real Estate In-Depth, the Hudson Gateway Association of Realtors officially announced on Aug. 25 that it will be moving its headquarters from The Westchester Pavilion at 60 South Broadway to the top floor of The Source at White Plains early next year. Located at the corner…

Study: New Home Construction Trailing Job Growth in Majority of Metro Areas

September 2, 2015

WASHINGTON—Despite positive improvements in the labor market in recent years, new home construction is currently insufficient in a majority of metro areas and is contributing to persistent housing shortages and unhealthy price growth in many markets, according to new research from the National Association of Realtors. NAR measured the volume of new home construction relative…

$42M in Financing Secured for Dobbs Ferry Mixed-Use Project

September 2, 2015

DOBBS FERRY, NY—The developer of the $130-million Rivertowns Square project off the Saw Mill River Parkway here has secured $42 million in construction financing from M&T Bank and promises to resume work on the mixed-use project. In conjunction with the financing deal, developer Saber Dobbs Ferry, LLC reported that it will stage an official groundbreaking…

Chinese Investor Buying Yonkers Waterfront Projects

September 2, 2015

YONKERS—At the groundbreaking for the $85 million third and final phase of the Hudson Park waterfront rental apartment housing project called Hudson Park River Club here, it was revealed that Strategic Capital, a Chinese-based investment firm, is purchasing the two existing phases and is a partner on the final phase. Arthur Collins, president and co-principal…

Ambitious New Rochelle Downtown Redevelopment Plan Moves Forward

September 2, 2015

NEW ROCHELLE—After months of public meetings, master developer RDRXR released a recommended action plan for the redevelopment of a large swath of the Downtown district of the City of New Rochelle that has the development potential of approximately 10.7 million square feet of mixed-use space. The plan outlines development potentials in five separate downtown districts.…

Real Estate Firms Confident Profits are in Their Future

August 29, 2015

WASHINGTON—Real estate firms are confident in the industry’s future growth and their increasing profitability, according to the 2015 National Association of Realtors Profile of Real Estate Firms, released on Aug. 6. “A majority of firms have a positive view of the future, with 95% of all firms expecting their net income to either increase or…

Council Keeps Current Fire Sprinkler Codes

August 29, 2015

ALBANY—The New York State Association of Realtors reported on Aug. 19 that the New York State Fire Prevention and Building Code Council voted 10-3 to keep existing code as is and will not implement a statewide mandate on fire sprinkler installation. NYSAR and HGAR issued Calls for Action over the last several months to its…

Home Prices Rise in Nearly All Metro Areas in Second Quarter

August 29, 2015

WASHINGTON— A promising climb in home sales throughout the country amidst insufficient supply caused home prices to steadily rise in most metro areas during the second quarter, according to the latest quarterly report by the National Association of Realtors released on Aug. 11. The median existing single-family home price increased in 93% of measured markets,…

NAR: Millennials Favor Walkable Communities

August 29, 2015

WASHINGTON—City leaders in New Rochelle, White Plains and Yonkers appear to be on the right track in their efforts to transform their downtown districts into areas that welcome transit-oriented development that will create walkable communities. A recent poll indicated those strategies are right on target with a very sought-after demographic—Millennials. A recent poll conducted by…