President Obama has signed Condo legislation that was approved by both houses of the Congress, into law. This is a big victory for Realtors as well as for future buyers as purchasing a condo is often a more affordable housing option. The new law mitigates current FHA regulations surrounding existing condominium projects, including streamlining project…
Read MoreWASHINGTON— Since the October 2015 implementation of the Consumer Financial Protection Bureau's “Know Before You Owe” mortgage initiative, Realtors have raised red flags over challenges in gaining access to the mortgage "closing disclosure" form, or CD. The CD is delivered to homebuyers in advance of their closing and contains important financial information related to their…
Read MoreWASHINGTON—On Friday, July 29th, President Barrack Obama signed into law H.R. 3700, the "Housing Opportunity Through Modernization Act.” The legislation includes reforms to current Federal Housing Administration restrictions on condominium financing, among other provisions, and was long supported by the National Association of Realtors. The U.S. Senate had approved the measure by unanimous consent on…
Read MoreWHITE PLAINS—The ownership of the Esplanade Senior Residences of White Plains has agreed to pay more than $528,000 to 139 elderly residents who were allegedly forced from their homes to make way for the development of a luxury rental apartment development there. New York State Attorney General Eric T. Schneiderman announced the settlement agreement on…
Read MoreWHITE PLAINS—The Hudson Gateway Association of Realtors, celebrating its 100th anniversary this year, opened its new offices in Downtown White Plains that the organization hopes will serve as its corporate headquarters for decades to come. On Monday, July 18th, chief officials with the Hudson Gateway Association of Realtors, including HGAR President Marcene Hedayati, HGMLS President…
Read MoreMOUNT VERNON—In a deal the development firm says reaffirms and expands its investment in the economic revival of the City of Mount Vernon, the MacQuesten Companies reported recently it had purchased the Mount Vernon West station on Metro-North’s Harlem Line. While the station’s platforms are owned by Metro-North, the station building has been privately owned…
Read MoreRYE BROOK—Metropolitan Transportation Authority Chairman and CEO Thomas Prendergast admitted that the New York City mass transit system had fallen behind in terms of repairing and upgrading its infrastructure as well as implementing the latest technology to ensure the safety of its passengers. However, with a $29.5-billion five-year capital program now in place, the agency…
Read MoreWHITE PLAINS—A perfect storm of market forces—strong buyer demand, low interest rates, soaring housing costs in New York City and a vibrant local economy helped propel residential home sales in the four-county market area of the Hudson Gateway Association of Realtors to a five-year high. The Hudson Gateway Multiple Listing Service, Inc. reported 4,525 residential…
Read MoreNEW YORK CITY—Better Homes and Gardens Rand Realty announced today the opening of its new Bronx office on East Tremont Avenue in the Throgs Neck section of the Bronx. The new office is located at 3432-06 East Tremont Ave. and concentrates on the Throgs Neck, Country Club, Pelham Bay, Morris Park, Pelham Parkway and Indian…
Read MoreGOSHEN—Will the Mid-Hudson Valley region in the next few years be home to not only a $1-billion casino resort in Sullivan County, but a $500-million LEGOLAND New York theme park and resort in Orange County? The approval process that will play itself out over the next six months or so will determine whether the Town…
Read MoreCARMEL—Putnam County Executive MaryEllen Odell has named Neal Zuckerman of Garrison to represent Putnam County on the board of the Metropolitan Transportation Authority. Zuckerman has served on the Metro North Railroad Commuter Council (MNRCC) in the Putnam County seat since 2010; he has also served on the MTA board in a non-voting capacity as the…
Read MoreMIDDLETOWN—Gov. Andrew Cuomo made a stop at the Paramount Theatre here on July 6th to announce that the City of Middletown had won a hotly contested $10-million state grant to help revitalize its downtown district. A host of state, county and local dignitaries were on hand for the announcement that Middletown had secured the Downtown…
Read MorePat Palumbo may have the most memorable voice message in the entire real estate community. In fact, it will definitely catch you off guard. What you’ll hear is a personal message from international stage and screen actor Hugh Jackman, posing as her “assistant.” “It really is him,” explained Palumbo, a sales agent with Houlihan Lawrence’s…
Read MoreNEW CITY— Rockland County Executive Ed Day announced on June 27th that the county had filed a lawsuit against its water company—Suez Water New York, Inc.—and two state agencies in connection with tens of millions of dollars in costs being charged to Rockland County water ratepayers for a failed desalination plant in Haverstraw. The legal…
Read MoreThe Hudson Gateway Realtor Foundation, the charitable arm of the Hudson Gateway Association of Realtors, raised $17,000 for Make-A-Wish Hudson Valley at its “Red Carpet Spectacular” Gala held this spring at the Clubhouse at Patriot Hills in Stony Point. The Tarrytown-based non-profit organization grants the wishes of Hudson Valley children suffering with life-threatening medical conditions.…
Read MoreWHITE PLAINS—The Hudson Gateway School of Real Estate kicked off its first “Lunch & Learn” class on June 21 in White Plains, with more than 50 people attending the “Mold & Other Environmental Hazards” Class taught by Jim Rood of Lighthouse Environmental. Lunch was provided by Hudson United Mortgage, Title and Insurance. Launched earlier this…
Read MoreALBANY—Gov. Andrew Cuomo, as expected, signed into law on June 30th a bill that will provide greater oversight of the troubled East Ramapo School District in Rockland County. The bill was passed by the Assembly and Senate on June 16 and was delivered to the governor on June 28th. Oversight legislation was passed last year…
Read MoreMAHOPAC—Putnam County Executive MaryEllen Odell says the county needs to expand its commercial base by securing additional sewer capacity, and also must attract and retain Millennials, as well as encourage ongoing initiatives like “Envision Brewster” and the redevelopment of Tilly Foster Farm. Odell was the keynote speaker at the annual breakfast of the Putnam County…
Read MoreOSSINING—A host of state, county and local dignitaries joined veteran residential real estate developer Martin Ginsburg on June 23rd in cutting the ribbon on Harbor Square, a $65-million luxury multifamily waterfront project here. The Harbor Square development site has been the focal point of development for nearly 20 years. In 1998, Westchester developer Louis Cappelli’s…
Read MoreNEW CITY—Rockland County Executive Ed Day announced on June 20th a series of emergency financial measures, including a hiring freeze, that will be put in place to address a potential $4-million budget shortfall caused by the County Legislature's failure to move forward with the sale of the Sain Building here. "We are facing a $4-million…
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