ALBANY—In her 2023 State of the State address on Jan. 10 in Albany, New York Gov. Kathy Hochul outlined key initiatives to reduce crime and gun violence, enhance mental health services and address the affordability crisis in the state. The governor introduced her “New York Housing Compact,” a groundbreaking strategy to catalyze housing development that…
Read MoreWHITE PLAINS—The Hudson Gateway Realtor Foundation, the charitable arm of the Hudson Gateway Association of Realtors reached its goal of $100,000 in fundraising for 2022, raising a total of $105,515. The funds will be used to provide 2023 donations to charities and non-profits throughout the Hudson Valley. In 2022, the foundation held its “Runway for…
Read MoreNEW YORK—All are invited to welcome the 2023 HGAR leadership when the association holds its Installation Gala on Thursday, Feb. 2, at the beautiful Marina Del Rey in the Bronx, directly on Long Island Sound. The event will run from 6 p.m. to 10 p.m. and will include a program to install the new 2023…
Read MoreWHITE PLAINS—The residential real estate markets in the New York City region and the lower Hudson Valley all experienced a shifting market in 2022. Still, in each county, the number of units sold in 2022 exceeded those of the 2019 pre-pandemic market, the Hudson Gateway Association of Realtors reports. Total residential sales in the counties…
Read MoreWASHINGTON—Commercial and multifamily mortgage originators are experiencing an unsettled market for borrowing and lending but anticipate those conditions will slowly stabilize over the course of 2023, according to the Mortgage Bankers Association's 2023 Commercial Real Estate Finance Outlook Survey. The survey, which polled the leaders of the top commercial and multifamily mortgage finance firms for…
Read MoreRYE BROOK—The luxury real estate market north of New York City ended 2022 with mixed results as luxury sales in Westchester, Putnam and Duchess counties were largely unchanged while Greenwich, Darien and New Canaan posted sharp declines, according to the Houlihan Lawrence Luxury Q4 Market Report released on Jan. 5. According to the report, Westchester…
Read MoreWASHINGTON—Pending home sales slid for the sixth consecutive month in November, according to the National Association of Realtors. All four U.S. regions recorded month-over-month decreases, and all four regions saw year-over-year declines in transactions. “Pending home sales recorded the second-lowest monthly reading in 20 years as interest rates, which climbed at one of the fastest…
Read MoreRichard Haggerty, who has worked in various roles at the Hudson Gateway Association of Realtors and its predecessor organizations for nearly four decades, will go down in the annals of HGAR’s storied history as the leader who guided it to become a major real estate organization in the New York metro region. In his 10-year…
Read MoreWASHINGTON—Existing-home sales declined for the tenth month in a row in November, according to the National Association of Realtors. All four major U.S. regions recorded month-over-month and year-over-year declines. Total existing-home sales, completed transactions that include single-family homes, townhomes, condominiums and co-ops, waned 7.7% from October to a seasonally adjusted annual rate of 4.09 million…
Read MoreMONTGOMERY—Locally-based residential real estate brokerage firm Curasi Realty, Inc. has announced the establishment of its specialized commercial division. A team of Curasi Realty professionals recently became certified in commercial real estate, prompting the launch of the company’s commercial division. Those Realtors all completed the Commercial and Investment Real Estate (CIRE) certification. “We congratulate these professionals…
Read MoreWASHINGTON—What seems evident from the forecasts from a host of noted real estate experts and economists, including National Association of Realtors Chief Economist Lawrence Yun, is that while 2023 will be a difficult year for many, it will in no way mirror the severe downturn the industry suffered in 2008. While some differ on whether…
Read MoreSTONY POINT— Fifty years ago, Patsy Duncan and late husband Fred set up shop in Rockland County’s Stony Point as a boutique Realtor and has since become a cornerstone of the local real estate scene. Now, Patsy Duncan has decided the time is ripe for a vigorous new stage of growth and has affiliated with…
Read MoreEntering 2022, Realtors interviewed by Real Estate In-Depth were hopeful that the housing market would remain strong as a follow-up to the feverish sales pace of the previous year, fueled by strong housing demand and the continued influences of the coronavirus pandemic. However, they were fearful that rising interest rates would take their toll on…
Read MoreFARMINGDALE—The latest home sales statistics from OneKey MLS clearly indicates that higher mortgage interest rates and inflation are taking their toll on what was a robust sales market earlier this year. OneKey MLS, the largest MLS in New York, which aggregates the real estate transactional data from nine counties making up the regional MLS coverage…
Read MoreRYE BROOK—Houlihan Lawrence announced on Dec. 14 it had partnered with TurnKey Realty Group and opened a new office location in Eastchester. Centrally located at 419 White Plains Road, the Eastchester office will be home to The TurnKey Team at Houlihan Lawrence. TurnKey was founded by Anthony Saraco, Jr., who has more than 28 years…
Read MoreReal Estate In-Depth has launched a new feature geared at providing useful information and the latest trends in the home inspection sector. In this installment we asked veteran home inspector Mark Aakjar the following question: Q: How dangerous is Radon and should prospective homebuyers have homes tested for Radon as part of their due diligence?…
Read MoreIn the 1970s and 1980s, the parking lot at the White Plains Mall was filled with shoppers and diners who were patrons of such Downtown White Plains staples as Scotch & Sirloin, Dag’s Tavern, Wallauer Paint & Design, McDonald’s and in the later years Bob Hyland’s The Sports Page. For a time, many in the…
Read MoreWASHINGTON—What was evident from the forecasts from noted real estate economists, including National Association of Realtors Chief Economist Lawrence Yun, at yesterday’s Real Estate Forecast Summit is that while 2023 will be a difficult year for many, it will in no way mirror the severe downturn the industry suffered in 2008. Yun, forecasts that 4.78…
Read MoreGOSHEN—New York State Supreme Court Justice Sandra Sciortino, recently granted summary judgment to a group of property owners and declared the City of Newburgh’s Good Cause Eviction law (Local Law 6) null and void. In her Nov. 29 ruling, Judge Sciortino said Local Law 6 “alters substantive provisions and procedures of existing state law by…
Read MoreSEATTLE—Mortgage rates will take center stage in 2023, with high rates likely to make it the slowest housing-market year since 2011, according to annual end-of-year predictions from tech real estate brokerage Redfin (redfin.com). The following are the dozen Redfin predictions for the housing market in 2023. Prediction #1: Home sales will fall to their lowest…
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