WHITE PLAINS—The luxury market in Westchester County continues to be strong based on current sales data, however, officials with Houlihan Lawrence tell Real Estate In-Depth that the volatile stock market, rising interest rates and inflation are bound to bring about some changes in the weeks and months ahead. Anthony Cutugno, Sr. Vice President, Director of…
Read MoreNEWBURGH—More than a year ago, Genting Americas, the parent company of Resorts World Catskills casino in Monticello, presented plans to the Newburgh Town Board to locate a Video Gaming Machine facility at the Newburgh Mall in eastern Orange County. The new plan was proposed after Genting scrapped an earlier proposal to build a VGM facility…
Read MoreWHITE PLAINS—With a backdrop of rising interest rates, slowing buying demand, high inflation and a turbulent stock market, some industry observers are questioning the strength of the residential sales market and forecasting hard times ahead. With the recent 0.75% increase in the short-term benchmark lending rate by the Federal Reserve to try and tame high…
Read MoreWASHINGTON—U.S. Existing-home sales retreated for the fourth consecutive month in May, the National Association of Realtors announced today (June 21). Month-over-month sales declined in three out of four major U.S. regions, while year-over-year sales slipped in all four regions. The Northeast was the outlier with a 1.5% increase in single-family home sales in May. The…
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news
YONKERS—For the first time in more than 10 years, The Municipal Housing Authority for the City of Yonkers will be opening its waiting list for Housing Choice Vouchers (Section 8) for affordable housing. MHACY reported on June 27 that it is seeking to add 3,000 people to its waiting list for affordable housing vouchers. The…
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legal-advocacy
On June 10th, the U.S. Bureau of Labor Statistics reported that the Consumer Price Index (CPI) rose 8.6% in May from a year ago, which marks the highest increase since December 1981. [See https://bit.ly/3Hg0hZP]. The increase in inflation was much higher than expected and will continue to put downward pressure on the economy into the…
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people
Coldwell Banker Realty in Westchester County and Connecticut recently announced that Rose Marie Mambrino, Peter Gorbutt and Carlos Gomez have rejoined the firm’s brokerage in White Plains. Rose Marie Mambrino Peter Gorbutt Carlos Gomez As a licensed real estate associate broker, Mambrino will provide residential real estate services in White Plains as well as Westchester…
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residential
YONKERS—For the first time in more than 10 years, The Municipal Housing Authority for the City of Yonkers will be opening its waiting list for Housing Choice Vouchers (Section 8) for affordable housing. MHACY reported on June 27 that it is seeking to add 3,000 people to its waiting list for affordable housing vouchers. The…
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Recently, President Biden and the White House marked National Homeownership Month with a new proclamation affirming the importance of expanding access to safe, affordable housing. June celebrates Pride and now with federal recognition, Juneteenth is a remarkable reminder of an exercise toward the American Dream of homeownership. Real estate is the root of economic growth,…
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It’s my sincere hope that by discussing these inequities through the lens of Diversity, Equity, and Inclusion, and focusing on the power of stories and personal experiences, we will create more meaningful and lasting change. On June 14th HGAR, in collaboration with the National Association of Realtors, the New York State Association of Realtors, the…
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technology
WHITE PLAINS—The Hudson Gateway Association of Realtors and the staff of Real Estate In-Depth regret to inform the membership and newspaper readership of the passing of John Vrooman, who died suddenly on June 5, 2022, at the age of 57 in upstate Lewiston, NY. John authored “Tech Talk” in HGAR’s monthly newspaper Real Estate In-Depth…
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mortgage
WASHINGTON—The Federal Housing Finance Agency released Fannie Mae's and Freddie Mac's Equitable Housing Finance Plans for 2022-2024 that the agency said are designed to complement initiatives that promote the Enterprises' safety and soundness and foster housing finance markets. The plans, which were released on June 8, are intended to provide equitable access to affordable and…
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