WASHINGTON—While U.S. pending home sales fell for the fifth consecutive month in March, pending sales in the Northeast bucked that trend. The other three other major U.S. regions experienced declines in transactions and all four regions reported decreases in year-over-year contract activity. The Pending Home Sales Index, a forward-looking indicator of home sales based on…
Read MoreNEWBURGH—The City of Newburgh has recently issued two Request for Proposals (RFPs) that represent what it terms are “exciting and unique development opportunities” for several city-owned properties, including City Hall. The first, RFP #11.22, seeks proposals for the creative redevelopment of numerous city-owned properties—both existing buildings and vacant parcels—that the city hopes will result in…
Read MoreWASHINGTON—The number of Realtors involved with buying or selling a property with green features has significantly increased in the past year, according to a study released on April 26 by the National Association of Realtors. The “2022 Realtors and Sustainability Report” surveyed NAR members nationwide regarding sustainability issues currently facing the real estate industry. Half…
Read MoreALBANY—New York Gov. Kathy Hochul announced on April 25th a $10.7-million award to Food Bank of the Hudson Valley for the construction of a new 40,000-square-foot food distribution warehouse in the Town of Montgomery. State officials noted that the increased demand for emergency food assistance due to the COVID-19 pandemic necessitated a larger facility with…
Read MoreNEW YORK--Berkshire Hathaway HomeServices New York Properties announced on April 25 the addition of Steven James as its president and chief executive officer and Brad Loe as its executive vice president, director of sales as the company commences a significant brand expansion across the New York City residential brokerage market. The newly expanded New York…
Read MoreWHITE PLAINS—Realtors believe that the lower home sales numbers registered in the first quarter of this year were due primarily to record low inventory and not any sharp decline in buying demand. In fact, brokers interviewed by Real Estate In-Depth agree that current economic headwinds in the form of high inflation, rising mortgage interest rates…
Read MoreLast month, partners Epoch Senior Living and National Development opened the doors for the first time to their new $120-million Waterstone of Westchester luxury senior housing project in Downtown White Plains. The independent living facility for those 62 and older offers everything a five-star hotel would offer and more. The 132-unit property is located across…
Read MoreARMONK—A recently released study commissioned by The Welcome Home Westchester campaign has found there wasn’t any data from recent large multifamily developments in suburban Westchester communities to substantiate fears of a surge in student enrollment expressed by local opponents of those development projects. Not only have these projects been harmless to the districts, they have…
Read MoreWASHINGTON—Existing-home sales decreased in March, marking two consecutive months of declines, according to a report released today by the National Association of Realtors. Month-over-month, sales in March waned in three of the four major U.S. regions while holding steady in the West. Sales were down across each region year-over-year. Existing-home sales in the Northeast slid…
Read MoreBRIARCLIFF MANOR—Newmark reports it has been retained by the new ownership of 555 Pleasantville Road, as the exclusive leasing agent and property manager for the office complex. The property has been recently sold to a joint venture between Saber Real Estate Advisors, Tarrytown Partners and GHC Development. USI Insurance was a major tenant at the…
Read MorePEARL RIVER—Momentive Performance Materials Inc. is relocating its operations in Tarrytown to nearly 67,000 square feet of space at the 207-acre Hudson Valley iCampus property here in 2023. Momentive Performance, which is headquartered in Waterford, (Saratoga County) NY will relocate from its current space at 769 Old Saw Mill River Road in Tarrytown in early…
Read MoreMark Your Calendar MAHWAH, NJ—The National Association of Realtors, New York State Association of Realtors, Hudson Gateway Association of Realtors and other regional Realtor associations will hold an all-day Diversity, Equity and Inclusion Summit on June 14 at the Sheraton Mahwah Hotel in Mahwah, NJ. Program details for the all-day conference (9 a.m. to 4…
Read MoreALBANY—The New York State Association of Realtors issued a “Call to Action” on April 12 to alert its membership that the State Legislature is considering passage of “Good Cause Eviction” legislation, which would restrict the ability of a landlord to evict a tenant, even in cases where their lease has expired so long as the…
Read More“In the current hot market, people who have traditionally enjoyed homeownership can capitalize on those gains to realize new opportunities. Meanwhile, the market becomes increasingly unaffordable, and the obstacles greater, for those trying to enter the market.” WASHINGTON—The lack of affordable homes is the top obstacle holding back potential home buyers of all races, but…
Read MoreWHITE PLAINS—The Hudson Gateway Association of Realtors’ RPAC Committee held its first 2022 Happy Hour Networking event on April 7 at Pax Romana in White Plains. Approximately 75 people attended, raising a total of $3,500 for the Realtors Political Action Committee. RPAC advocates for real estate professionals and homeowners on a local, state and…
Read MoreThere are a lot of questions and concerns from our members relating to the newly instituted Standard Operating Procedures (SOPs). This month’s article can serve as a “cheat sheet” on the basics and, hopefully, will answer many of your questions. NYSAR’s SOPs template can be found here. • The new SOPs requirement is effective April…
Read MoreA Bittersweet Farewell to REID’s Graphic Designer of 44 Years For the past 44 years, Bart D’Andrea has been the “man behind the scenes” of Real Estate In Depth and its predecessor publication Westchester Realtor—planning the newspaper layout, designing ads, and basically creating the look and feel of the Association’s award-winning publication. But this April…
Read MoreEveryone remembers the old children’s rhyme, “First Comes Love, Then Comes Marriage,” but within the past few years there’s been a growing trend for couples of all ages to put real estate deals first before marriage, or in some cases, just forgo that stroll down the aisle altogether. According to a recent Realtor.com survey, 31%…
Read MoreEditor’s Note: A contingent of Hudson Gateway Association of Realtors members and staff attended the MIPIM 2022 conference in Cannes, France from March 15-March 18. Using the theme of “Driving Urban Change,” MIPIM organizers offered information about making communities more sustainable, livable, affordable and resilient in the wake of COVID-19. Organizers appealed to the real…
Read MoreGOSHEN—The Orange County Industrial Development Agency in an attempt to secure new shovel-ready development sites has launched an initiative aimed at creating the link between infrastructure, zoning, land use and economic development opportunities in a cost-efficient manner. The IDA states that its intent is to maximize the economic benefit of potential projects involving both re-use…
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