WASHINGTON—Amidst staggeringly low inventory levels in much of the country during the second quarter, existing-homes sales cooled and home prices maintained their robust level of appreciation, according to the latest quarterly report by the National Association of Realtors released on Aug. 8. Last quarter, the San Francisco metro area joined the San Jose metro area…
Read MoreWHITE PLAINS—In a move that could eventually free up federal housing funding to county municipalities after being frozen for eight years due to the county’s fair housing battle with the U.S. Department of Housing and Urban Development, Westchester County Executive George Latimer has re-established the Westchester Urban County Consortium. The new consortium is comprised of…
Read MoreWASHINGTON—On July 31, President Donald Trump signed into law the “National Flood Insurance Program Extension Act of 2018” (S. 1182), which reauthorizes the Federal Emergency Management Agency to enter into new contracts for flood insurance through Nov. 30, 2018. The President’s action came after the U.S. Senate passed the short-term flood extension measure by an…
Read MoreYONKERS—The Yonkers Industrial Development Agency on July 26 announced it had approved financial incentives for the rehabilitation of a seven-story apartment building at 70 Ashburton Ave. The project, which involves the complete renovation of an existing vacant apartment building, is a transformative development for this corridor of the city that creates new housing opportunities and…
Read MorePEEKSKILL—The revitalization of Downtown Peekskill is moving forward with a host of projects underway. On July 26, Ginsburg Development Companies joined with Peekskill Mayor Andre K. Rainey and Deputy County Executive Ken Jenkins and other city and county officials to celebrate the Grand Opening of GDC’s Gateway Townhomes development. Meanwhile, GDC has commenced construction on…
Read MoreWASHINGTON— Existing-home sales decreased for the third straight month in June, as declines in the South and West exceeded sales gains in the Northeast and Midwest, according to a report released by the National Association of Realtors on July 23. The ongoing supply and demand imbalance helped push June’s median sales price to a new…
Read MoreWASHINGTON—The income and sales volume of National Association of Realtors members dropped slightly over the last year, but membership increased as younger members continue to enter the industry, according to the 2018 National Association of Realtors Member Profile released recently. This past year, there was a rise in new members from 1.22 million in March…
Read MoreNEW YORK CITY—New York Gov. Andrew Cuomo followed through on his threat and announced on Tuesday that New York State had filed a lawsuit against the federal government over what it termed as the unconstitutional federal tax reform law enacted earlier this year. The lawsuit contends the new SALT (state and local tax) cap was…
Read MoreWHITE PLAINS—Continued low for-sale inventory caused home sales to fall and home prices to continue to trend higher in most of the Lower Hudson Valley in the second quarter.Overall home sales fell 5.7% in Westchester, 4.6% in Putnam and 11.3% in Rockland counties in the second quarter, according to the recently released “2018 Second Quarter…
Read MoreRYE BROOK—In its latest effort to maximize exposure for its listings, Houlihan Lawrence has begun feeding its Open Houses to Waze, a community-based traffic and navigation app. Each Open House will receive a branded pin on the map at its location, along with a separate takeover ad that a user would see when at a…
Read MoreNEW CITY—Sharon D’Orazio, manager of Weichert, Realtors’ New City sales office, reported that her office participated in the New City Summer Street Fair, which took place recently on Main Street. The event, hosted by the Town of Clarkstown, included entertainment, rides, games, bounce houses, food, vendors, arts and crafts, face painting and live music. Weichert…
Read MoreWALLINGFORD, CT—Berkshire Hathaway HomeServices New England, New York and Westchester Properties announced recently a strategic partnership with aviation firm NetJets. With the new alliance, Berkshire Hathaway HomeServices agents and their clients will have access to NetJets benefits. “Through our alliance with NetJets, we are thrilled to offer our agents and clients a luxurious private aviation…
Read MoreARMONK—Michael Levy, principal broker of Grand Lux Realty, of Armonk reported recently that the firm had achieved the 200-agent mark as of June 1, 2018. Mr. Levy stated, "I'm proud to announce that our company has achieved the milestone of having recruited 200 agents. We have worked hard to get to this point and it…
Read MoreMOUNT VERNON—New York State Homes and Community Renewal announced on June 27 the start of construction of an approximately $95 million, 100% affordable housing development called 22 South West in Downtown Mount Vernon. The mixed-use project being built by MacQuesten Development is immediately adjacent to the Mount Vernon West Metro-North Station, and will feature 189…
Read MoreCHAPPAQUA—New York State Homes and Community Renewal and Wilder Balter Partners announced recently the completion of a $21-million affordable housing development at the iconic Reader’s Digest headquarters building that created 64 mixed-income apartments. The original Georgian-style brick building with its signature cupola opened in 1939 and for seven decades served as the headquarters for the…
Read MoreWHITE PLAINS—A plan to redevelop an underutilized stretch of Westchester Avenue in White Plains that will feature more multifamily development and some retail space in the downtown district is progressing. A proposal by Sabre Chauncy, WP, LLC to build 276 units of rental housing and nearly 25,000 square feet of retail space at 80-100 Westchester…
Read MoreWHITE PLAINS—Second quarter home sales figures in the lower Hudson Valley region served by the Hudson Gateway Multiple Listing Service Inc. appear to be following a patten of deja vu in terms of price appreciation and constricting inventory. In most areas of the region the median sales price for a single-family residential home increased by…
Read MoreWASHINGTON—The U.S. Department of Housing and Urban Development announced on July 2 it charged developer Toll Brothers Real Estate, Inc., as well as a construction company and architect with housing discrimination for failing to design and construct a condominium development in the Long Island City area of Queens in compliance with accessibility requirements of the…
Read MoreNEW YORK—Better Homes and Gardens Rand Realty has increased its footprint in the Bronx, the Nanuet-headquartered brokerage firm reports. Better Homes and Gardens Rand Realty has merged with Exit Realty Search of the Bronx. With the merger, the firm, brings more than 60 agents to the Rand Realty network. The brokerage firm also reported recently…
Read MoreCo-op fair housing legislation is critical to ensuring affordable and available housing to everyone including those designated as a protected class under federal, state and local fair housing law. HGAR was successful in lobbying to have a law passed in Rockland County that requires a 45-day time period in which a board must accept or…
Read More