WHITE PLAINS—Today is the day real estate brokers and agents have been anxiously waiting for since March 22 when Gov. Andrew Cuomo issued the “New York on Pause” order that virtually shut down the real estate industry and all other “non-essential” businesses in the state. Gov. Andrew Cuomo announced this morning (June 9) that the…
Read MoreBy Mike Fratantoni and Joel Kan The extraordinary impact from COVID‐19 social distancing measures and business closings is impacting the economy and job market in unprecedented ways. While April economic data has been uniformly awful, more recent data on purchase applications indicate significant pent up demand for housing. Housing demand is strengthening as more states…
Read MoreWHITE PLAINS—A group of Westchester landlords who own rental properties in Elmsford, Port Chester and Yonkers filed suit on May 25 in U.S. District Court for the Southern District in White Plains against Gov. Andrew Cuomo for his extension of regulations that prohibits landlords from initiating or continuing residential evictions. The suit also contests the…
Read MoreTOWN OF POUGHKEEPSIE—Developers are undertaking substantial demolition and renovation work as they move forward with the Hudson Heritage mixed-use community being developed on 156 acres on Route 9 across from Marist College. The $300-million project will include housing, a hotel and conference center, retail, a supermarket, restaurants, entertainment, and medical and office space. The site…
Read MoreRYE BROOK—National Disinfection Services announced on May 15th it is launching what it terms is a “socially minded, one-of-a-kind” residential “Certification of Disinfection” program. The program comes with the “Clean Home Certified” seal of approval—an attestation that their new home is 99.9% free of any and all disease-bearing pathogens like COVID-19. “Given the new realities…
Read MoreWASHINGTON—– The National Association of Realtors issued a report today identifying 10 housing markets with favorable conditions for Millennial homebuyers during the coronavirus pandemic. None of the major cities in the Northeast made the list. The only metro area on the East Coast to make the top 10 Millennial list was Durham, Chapel Hill, NC.…
Read MoreI would like to share my thoughts on the pain, suffering and turmoil that has gripped our region, our state and our nation since the tragic and senseless killing of George Floyd in Minneapolis during the last week. Two and a half months ago COVID-19 began its onslaught in New York, creating what can best…
Read MoreRYE BROOK—The Business Council of Westchester recently issued an extensive list of strategies and recommendations to assist the state and Westchester County in their reemergence from the coronavirus pandemic. The report released on June 1 offers recommendations from the 46 members of the BCW Westchester Economic Recovery Task Force who represent a wide range of…
Read MoreWHITE PLAINS—Westchester County Executive George Latimer announced on June 1 that he had formed the Westchester County Reopening Task Force, which is charged with finding solutions to advance local businesses interests once the coronavirus crisis ends. The task force is co-chaired by Westchester County Legislator Catherine Parker, a former small business owner and past president…
Read MoreALBANY—On Tuesday, May 26th, segments of the construction and manufacturing sectors of the Mid-Hudson regional economy were allowed to go back to work after being shut down under Gov. Andrew Cuomo’s “New York on Pause” restrictions imposed in March to prevent the spread of the Novel Coronavirus. Gov. Andrew Cuomo first announced on May 22…
Read MoreWASHINGTON—Existing-home sales dropped in April, continuing what is now a two-month skid in sales brought on by the Coronavirus pandemic, according to the National Association of Realtors. Each of the four major regions experienced a decline in month-over-month and year-over-year sales, with the West seeing the greatest dip in both categories. Total existing-home sales, completed…
Read MoreCORNWALL ON HUDSON—Decked out in masks and gloves, a group of Realtors from the Hudson Gateway Realtor Foundation (HGRF) recently volunteered their time to help pack groceries at the Food Bank of the Hudson Valley in Cornwall-on-Hudson. The Food Bank of the Hudson Valley is a branch of the Regional Food Bank of Northeastern New…
Read MoreALBANY—Gov. Andrew Cuomo announced today that pending the required training of contact tracers over the Memorial Day weekend, the Mid-Hudson regional economy will begin phase one of its economy’s reopening on Tuesday, May 26. The governor in his daily COVID-19 briefing on Saturday said the Mid-Hudson region had met the metric in terms of COVID…
Read MoreWHITE PLAINS—It appears the reopening of the Mid-Hudson economy, which was all but shut down back on March 22 when Gov. Andrew Cuomo put “New York on Pause” to prevent the spread of the Novel Coronavirus, is finally at hand. After a setback earlier this week, Westchester County Executive George Latimer and Orange County Executive…
Read MoreGOSHEN—Orange County Executive Steven Neuhaus revealed in his daily COVID-19 Update on Saturday that the governor’s office notified counties in the Mid-Hudson region that the region had not met one of the key metrics for reopening and that the state is “restarting the clock,” which could mean a delay in the region’s economy’s opening by…
Read MoreWASHINGTON—Nearly all of the nation’s metro areas saw price growth and had minimal inventory increases in the first quarter of 2020, according to the latest quarterly report by the National Association of Realtors. The Northeast saw an increase of just under 10% in single-family home prices in the region. Median single-family home prices increased year-over-year…
Read MoreWhile most Realtors are still dealing with the frustration that the COVID-19 has placed on their industry, some are starting to discover different ways to conduct business and deal with their daily stress. Virtual cocktail parties and drive-by visits to relatives are now part of the new norm, but Irene Guanill has taken that to…
Read MoreKicking COVID to the Curb While the Coronavirus continues to wreak havoc on people’s lives and careers, one New City agent not only managed to overcome the virus herself, but actually received offers on two homes, sight unseen, during these incredibly challenging times! Some may consider Betsy Estrella-Mejia a real estate “newbie,” earning her license…
Read MoreWASHINGTON—More than three in four Realtors (76%) currently working with sellers this week reported their clients haven’t reduced listing prices to attract buyers, according to a survey released recently by he National Association of Realtors. That’s up from 74% who said the same a week ago. “Nearly 70% of Americans have secure employment and those…
Read MoreRYE BROOK—As New York State prepares to begin reopening its economy in the wake of the COVID-19 pandemic, the newly formed Business Council of Westchester’s Economic Recovery Task Force is forging ahead with developing a comprehensive plan to provide specific recovery measures and recommendations keyed to assisting Westchester’s diverse business and not-for-profit sectors. The Task…
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