WASHINGTON—Declining for-sale home inventory may finally be catching up with the nation’s residential sales market. The National Association of Realtors reports that pending home sales in April fell for the second consecutive month. NAR in a report released on May 31st, stated that its Pending Home Sales Index fell 1.3% to 109.8 in April from…
Read MoreBig changes are needed at the local government level in order to make home ownership attractive to the millennial generation. Big changes are needed at the state level to our transportation system in order to get people from Point A to Point B. To begin to foster change on the local level, Realtors should attend…
Read MoreWHITE PLAINS—Sumitomo Mitsui Banking Corp., which had been in the market for some time looking for approximately 100,000 square feet of available space in White Plains, has finally picked its new office location—the Gateway Building in Downtown White Plains. CBRE reports it has brokered a 101,000-square-foot lease with Tokyo-based Sumitomo Mitsui Banking Corp. at the…
Read MoreWASHINGTON—U.S. real estate markets are increasingly becoming international, and changing demographics brought forth by immigration and growing interest from foreigners are positioned to bolster home sales activity and prices. That was the collective forecast from speakers at an international real estate forum organized by the REALTOR® University Richard J. Rosenthal Center for Real Estate Studies…
Read MoreRAMAPO—At a press conference staged near a controversial housing development at Patrick Farm here, Rockland County Executive Ed Day signed an Executive Order prohibiting county departments from issuing permits that do not comply with the General Municipal Law. “When it comes to development, for far too long we see laws disregarded or broken—with no consequences,”…
Read MoreYONKERS—A decade’s old historic building turned eyesore has been transformed into a modern mixed-use center of commerce in Yonkers. On May 24th, Simone Development officials were joined by county and city officials to cut the ribbon on the new Boyce Thompson Center, formerly the Boyce Thompson Institute plant research center that sat vacant with graffiti-strewn…
Read MoreNEW YORK—The multifamily development floodgates opened last year when developers put their money on the State Legislature enacting a replacement for the 421-a tax incentive legislation. New York Building Congress president and CEO Carlo A. Scissura believes that developers bet on New York State passing a new 421-a tax incentive program this past legislative session…
Read MoreYONKERS—Westchester County Executive Robert Astorino, Yonkers Mayor Mike Spano and other state and city officials joined Ginsburg Development Corp. in cutting the ribbon on its $100-million River Tides at Greystone luxury rental apartment project. The 330-unit building is GDC’s third major luxury rental development to open in Westchester since the veteran development firm shifted its…
Read MoreWASHINGTON—Potential homebuyers have a lot to contend with from tight credit and low inventory to rising prices. However, for buyers who are able to muscle past these hurdles, Realtors know that tough-to-make deals can still fall apart when needlessly high regulatory burdens get in the way. That point was made clear by and received loud…
Read MorePLEASANTVILLE—The lower Hudson Valley's three county executives detailed their top economic development initiatives that ranged from public-private partnerships involving airport operations, an amusement park and a $1.9-billion bioscience park, to a sewer pact with an out-of-state city during a Hudson Valley Pattern For Progress breakfast on May 15th at Pace University’s Pleasantville campus. About 130…
Read MoreWHITE PLAINS—If the Westchester County Board of Legislators wouldn’t take on Governor Andrew Cuomo and Entergy on the deal reached earlier this year to close Indian Point, Westchester County Executive Robert Astorino decided he would do it on his own. Astorino announced on May 9th that he had filed suit against New York State, Entergy…
Read MoreBuying or selling a home can be stressful enough for humans, but when you enter your four-legged family members into the mix, the fur could really start to fly! In addition to constantly cleaning up shedding pet hair, home sellers are often at a quandary of where to keep their pets during home showings. Dana…
Read MoreGOSHEN—The Orange County Partnership announced on May 1st that Orange County Executive Steve Neuhaus is the economic development agency’s MVP (Most Valuable Partner) Award winner for 2017. Orange County Partnership President and CEO Maureen Halahan announced Neuhaus’ selection by a unanimous vote of its Board of Directors at a press conference staged earlier this month…
Read MoreTax reform has been proposed. Do not panic yet. Why do I say that? Because even though the Trump Administration has laid out the tax reform proposal, Congress has not weighed in as yet. In order for long-term tax reform to work where deductions are eliminated or modified, the Senate needs 60 votes. Right now…
Read MoreTARRYTOWN—Danone’s US operations headquartered in Westchester County have been making national as well as local news of late that has involved a multi-billion dollar acquisition that more than doubled its size and an impending move of its corporate headquarters from Greenburgh to Downtown White Plains. Danone President, USA Yogurt Sergio Fuster detailed the latest news…
Read MoreBRONXVILLE—Citing a continuing trend in the real estate brokerage business away from provincial offices that service a few communities, the ownership of Bronxville Real Estate announced today that it will now operate as Park Sterling Realty. The firm’s rebranding is intended to convey the geographic reach of its customer base that far extends from the…
Read MoreNEW YORK—The Second Circuit Court of Appeals in a unanimous ruling found that Westchester County has failed to comply with certain requirements of the 2009 fair housing court settlement. In a scathing rebuke of the county’s long-held arguments to the contrary, the Second Circuit Court upheld previous federal district court rulings that the county had…
Read MoreRYE BROOK—Residential brokerage firm Houlihan Lawrence announced on April 25th that it entered an exclusive marketing partnership with BLADE, a private aviation startup that has been coined by some as “the Uber of Helicopters.” The partnership, which began this month, will bring prominent exposure for properties listed with Houlihan Lawrence, appearing to BLADE fliers throughout…
Read MoreWHITE PLAINS—The Westchester office market posted strong leasing activity in the first quarter and the removal of some properties from the inventory helped dramatically reduce the county’s office vacancy rate. In a recently released report on Westchester and Fairfield County’s office markets, brokerage firm Colliers International Group Inc. reported Westchester exhibited strengthening fundamentals, while neighboring…
Read MoreWASHINGTON—The Trump Administration’s decision earlier this week to impose tariffs or duties on Canadian imported lumber could have significant impacts on prospective new homebuyers as well as the U.S. economy, the National Association of Home Builders warns. Earlier this week, the Trump Administration announced it was imposing tariffs on imported Canadian lumber ranging from 3.02%…
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