In connection with every real estate transaction in New York, real estate attorneys and real estate agents discuss with their clients, whether they are sellers or buyers, what the “closing date” will be and how it is to be determined, often utilizing terms such as “on or about closing date,” “reasonable time” and “time of…
Read More(Editor’s Note: Part one of a two-part series) The holidays are quickly approaching and with it, the anticipation of holiday cheer, kindness, courtesy, and giving. While this is wonderful, as Realtors we should be embracing this attitude all year long. Sadly, whether due to the market, the business, political unrest, or some other factors, the…
Read MoreThe real estate industry has certainly been through a lot during the COVID-19 pandemic. At the start of the pandemic, many real estate agents and brokerage firms faced the real concern that the entire real estate market was on the brink of collapse. The panic that had set in quickly subsided and, surprisingly, the real…
Read MoreBack in 2019, the New York legislature enacted a broad new law that provided sweeping housing reforms and protections for tenants relating to permanent residential housing. Among these rent regulations was one that caught many landlords and real estate agents by surprise and I am still asked, nearly two years later, to confirm or explain…
Read MoreThe eviction moratorium has gone on for longer than it should have. While the pandemic is still with us, New York has been opening up. The virus is now likely to become “endemic” meaning that it is a condition we have to live with and adjust to. Legislation to provide rental aid has been passed,…
Read MoreOn Sept. 1, 2021, our area was hit particularly hard from the remnants of Hurricane Ida. Record-setting levels of rain fell in just a few hours causing unprecedented flash flooding leaving horrific death and destruction in its wake. Our thoughts and prayers go out to all of those who lost their lives and to their…
Read MoreA Realtor must act in the best interests of his/her client (Code of Ethics, Article 1). A good agent will do everything in their power to get their client the best deal or consummate a transaction. However, sometimes, an agent will overreach in order to manipulate parties or negotiations. While good-intentioned, it may get the…
Read MoreRealtors won a victory at the federal level when the Supreme Court struck down a CDC eviction moratorium by a 6-3 margin reasoning that the CDC exceeded its authority to issue the moratorium absent Congressional legislation. Forty-two billion dollars in rental assistance was passed by Congress in March. To date, nationally, only $11 billion has…
Read MoreOn June 24th, 2021, our nation witnessed one of the deadliest and most tragic building collapses in its history. It sadly claimed the lives of 98 unsuspecting and innocent residents. Our thoughts and prayers go out to the victims and their families. Since that sad day, information has continued to come to light in the…
Read MoreEviction Moratorium Saga Continues, Cold Calling Ban, Co-Op Transparency Law in Effect The tenant eviction moratorium has gone back and forth. The U.S. Supreme Court ruled that it was unconstitutional, but also ruled that it could remain in place until it expired in July. Most recently, based on pressures from tenant advocacy groups, the administration…
Read MoreBased in part on the strong advocacy of our association and its Realtor members, on Monday, June 28, 2021, the Westchester County Board of Legislators voted 15-2 to pass an amendment to strengthen the Westchester Co-Op Disclosure Law. It was signed into law by County Executive George Latimer that same day. The new law took…
Read MoreIt is now the end of July, and the COVID rental assistance has not yet been processed by Gov. Andrew Cuomo. To date, New York is only one of two states that has not released its COVID rental funding assistance to tenants and landlords. This has exacerbated an already dire situation for those tenants unable…
Read MoreThis past HGAR scored a big victory on Co-op transparency legislation and fair housing. The Westchester County Board of Legislators passed, and County Executive George Latimer signed a bill mandating co-ops provide a reason in writing to buyers if they are rejected by a co-op board from the purchase of a co-op. They also must…
Read MoreWASHINGTON—The U.S. Department of Justice announced on July 1 it was withdrawing from a settlement it had reached with the National Association of Realtors last November in order “to permit a broader investigation of NAR’s rules and conduct to proceed without restriction.” The U.S. Justice Department has also filed to voluntarily dismiss its complaint against…
Read MoreWHITE PLAINS—The Westchester County Board of Legislators in a 15-2 vote last night approved an amendment to the existing Co-Op Disclosure Law that now requires a cooperative Board of Directors to provide a reason for a denial of an applicant seeking to purchase a unit at their property. The measure went into effect immediately as…
Read MoreThe New York State of Emergency effectively ended on June 24, 2021. With its ending, many of the regulations enacted by the governor ended as well. We’ve been waiting for this emergency to end for over a year. So now with the ending of the emergency and a transition back to what is “normal,” Realtors…
Read MoreRecent ransomware attacks and major hacks have thrust into the spotlight the importance of businesses, including those in the real estate industry, having the necessary protocols and protections in place to protect themselves and their clients from cybercriminals. During the COVID-19 pandemic there has been a substantial rise in cybercriminal activity. The recent ransomware attacks…
Read MoreCurrently, we are seeing an uptick in the use of “broker agency” in our MLS, and there is much confusion in its use and how it applies, so I’m going to breakdown the difference between it and “buyer agency” and the pitfalls that can occur; specifically, not getting paid cooperating compensation (Note: I will not…
Read MoreThe end of the New York State legislative session in Albany is at hand. The real estate industry was fortunate in not having several bills it strenuously opposed come up for a vote. One particularly onerous bill with the misnomer “Good Cause” eviction, would have locked in a long-term lease and taken away the property…
Read MoreThe Westchester County co-op transparency bill has finally had a public hearing. The number of speakers who came out in support of the bill outnumbered the naysayers by a 3 to 1 margin. The arguments against the bill were ones we had heard many times before and easily disputed. Opponents said that the bill, if…
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