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Realtors Show Strong Commitment to Further DEI at Major Regional Conference

June 7, 2023

SLEEPY HOLLOW—Organizers of the second annual Diversity, Equity, & Inclusion Summit were in agreement that this year’s event, held on June 5 and 6 at the Sleepy Hollow Hotel & Conference Center here, featured a wide-ranging offering of programs and discussions geared at providing insights for real estate brokers, agents, as well as association boards…

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Westchester County Executive Latimer Signs ‘Access to Counsel’ Bill into Law

June 1, 2023

WHITE PLAINS—At a press conference on May 31, Westchester County Executive George Latimer signed legislation into law that will create an agency that will provide legal counsel to income-eligible tenants and occupants facing eviction or other housing-related matters. A housing advocacy organization stated that 93% of landlords are represented by counsel in eviction proceedings in…

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New York GOP Lawmakers Fail to Amend SALT Cap in U.S. Debt Ceiling Agreement

May 31, 2023

WASHINGTON—If at first you don’t succeed, try, try and try again. A group of Republican Congressmen submitted an amendment to the federal debt ceiling agreement before the House Rules Committee to raise the SALT Cap from $10,000 to $60,000 for individual tax filers. However, Real Estate In-Depth has learned that the amendment failed to pass…

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New Rochelle Mayor Bramson Named Executive Director of Sustainable Westchester

May 25, 2023

MOUNT KISCO—After serving as Mayor of New Rochelle for nearly two decades, Noam Bramson will be leaving city government at the end of this year for the private sector. Earlier today, Sustainable Westchester announced that Mayor Bramson will take over as Executive Director of the Mount Kisco-based non-profit effective in January 2024. Bramson has served…

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Five Questions With Westchester County Executive George Latimer

May 24, 2023

With the COVID-19 pandemic mostly in the rearview mirror, but economic headwinds on the horizon in 2023, Real Estate In-Depth thought it would be a good time to sit down with Westchester County Executive George Latimer to discuss some of the key issues the county is facing. Latimer, a veteran politician, is in the final…

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Real Estate, Government Officials Agree Housing Crisis is Very Real

May 19, 2023

Should New Plan Utilize a Carrot or Stick? RYE—In the aftermath of Gov. Kathy Hochul’s failed “New York Hosing Compact” bold initiative that called for the development of 800,000 new housing units statewide to address what she termed is a housing crisis in New York State, real estate executives and government officials at a recent…

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U.S. Existing-Home Sales Faded 3.4% in April

May 19, 2023

WASHINGTON—Existing-home sales decreased more than 3% in April, according to the National Association of Realtors. All four major U.S. regions registered month-over-month and year-over-year sales declines. Home sales in the Northeast fell less than 2% last month, according to the NAR report. Total existing-home sales slid 3.4% from March to a seasonally adjusted annual rate…

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Westchester County Tourism Receives Major Grant For Action Plan to Boost Post-Pandemic Tourism

May 15, 2023

WHITE PLAINS—The Westchester County Tourism & Film was recently awarded a $520,000 grant from the U.S. Department of Commerce, through the Economic Development Administration, as part of the American Rescue Plan. This EDA Tourism Recovery Action Plan will support the development of the Westchester County Tourism Recovery Plan with research, strategic planning and prioritization of…

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NAR Chief Economist Yun Says Fed’s Last Rate Hike Was Unnecessary

May 11, 2023

WASHINGTON—National Association of Realtors Chief Economist Lawrence Yun said the Federal Reserve's most recent rate hike was unnecessary, and he expects the Fed will stop raising interest rates further, during the “Residential Economic Issues & Trends Forum” held at NAR's 2023 Realtors Legislative Meetings on May 10. Yun discussed recent developments in the U.S. economy…

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High Rates, Low Inventory Weigh on Regional Housing Market

April 20, 2023

WHITE PLAINS—The negative trifecta of high inflation and mortgage interest rates and low inventory continues to put a significant dent in home buying sales volume in the New York City/Lower Hudson Valley market. Single-family home prices values continued to rise in the first three months of this year in some markets, but indications are that…

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It’s a Small World After All: HGAR Global Initiatives Paying Dividends

April 20, 2023

Anyone who has ever been to a Disney theme park is familiar with the popular boat ride attraction featuring dolls of the world singing and dancing throughout the seven continents. “It’s a Small World” is meant to show how today’s world is really smaller than we think—given the technology now that can bring us all…

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Home Appreciation Nets Middle-Income Homeowners $122,100 in Past Decade

April 18, 2023

KANSAS CITY, MO—– A newly released housing report by the National Association of Realtors reveals middle-income homeowners accumulated $122,100 in wealth as their homes appreciated by 68% in the last 10 years. The report indicated all income earner brackets benefitted from home appreciation, however, some stark inequalities in benefits were revealed. The report, Wealth Gains…

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Value of IDA Projects in New York State Increased to $126B in 2021

April 13, 2023

ALBANY—As some critics of Industrial Development Agencies continue to call for additional oversight over their decisions and tax breaks granted to developers, a report released on April 11 indicates that a total of 107 local and county Industrial Development Agencies in New York State added $126 billion to the New York State economy in 2021…

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Five Business Organizations Tell Westchester State Delegation Housing Incentives Alone Will Not Work

March 29, 2023

WHITE PLAINS—The chief executives of five major business organizations in Westchester County, including the Hudson Gateway Association of Realtors, have jointly sent a letter to the Westchester State Delegation urging them that incentives alone will not solve the housing crisis in Westchester County and therefore lawmakers should enact some key facets of Gov. Kathy Hochul’s…

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Baby Boomers Overtake Millennials as Largest Generation of Home Buyers

March 28, 2023

WASHINGTON—The share of baby boomers has surpassed millennials and now makes up the largest generation of home buyers, according to the latest study from the National Association of Realtors released on March 28. The 2023 Home Buyers and Sellers Generational Trends report, which examines the similarities and differences of recent home buyers and sellers across…

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Five Questions With: MaryAnne Gilmartin Founder &CEO, MAG Partners

March 23, 2023

When Real Estate In-Depth pondered who would be the candidate for the Five Questions feature for Women’s Month, the logical choice was MaryAnne Gilmartin. Her background in real estate as she tells it almost began by happenstance, but her hard work has led her to found her own New York City-based real estate development firm—MAG…

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Governor, Legislature Debate How to Fix State’s Housing Crisis

March 20, 2023

ALBANY—As negotiations continue at the State Capital on the 2023-2024 New York State Budget, Gov. Kathy Hochul and state legislative leaders agree that the state is facing a housing crisis. The issue seems to be how to go about solving it, through offering carrots in the form of incentives to spark new affordable housing construction…

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