WASHINGTON—A stronger economy, wage growth and an improving job market are expected to march home sales and prices higher in 2018, but low supply and weakening affordability will tamper the rate of increases, according to speakers at a residential real estate forum during the 2018 Realtors Legislative Meetings & Trade Expo held here earlier this…
Read MoreALBANY—New York Gov. Andrew Cuomo announced on Monday that New York will be joining a lawsuit against the federal government’s alleged failure to enforce the Fair Housing Act. The lawsuit seeks to force the U.S. Department of Housing and Urban Development to enforce a rule requiring local and state governments to address segregated housing patterns…
Read MoreWASHINGTON—Inventory levels hovering at all-time lows weighed down home sales and fueled faster price appreciation during the first three months of the year, according to the latest quarterly report by the National Association of Realtors released on May 14. The national median existing single-family home price in the first quarter was $245,500, which was up…
Read MoreWEST HARRISON—The Fordham Real Estate Institute and The Business Council of Westchester are co-sponsoring a forum entitled “Real Estate’s Next Revolution – From The Amazon Effect to Cannabis Legalization.” The breakfast panel will take place on Wednesday, May 30 from 8:00 a.m. to 10:00 a.m. at the university’s West Harrison campus at 400 Westchester Ave. The…
Read MoreNEW YORK—Prudential Kafcos Realty announced recently it joined the Century 21 system and will now do business as Century 21 Kafcos Realty. The company, headquartered at 3060 East Tremont Ave., will continue to provide real estate services to buyers, sellers and renters in the Bronx and Westchester counties. “Century 21 Kafcos Realty exemplifies the strength…
Read MoreSCARSDALE—Keller Williams Realty Group associates chose to “Give Where They Live” as part of RED Day, Keller Williams' annual day of service on May 10. As part of the RED Day effort, Keller Williams Realty Group spent the day with The Humane Society in New Rochelle, collecting donations for the local animal shelter and raising…
Read MoreGREENBURGH—After reaching an agreement with the Town of Greenburgh, Westchester County Executive George Latimer announced on May 8th plans for the development of 74 units of affordable senior rental housing at the long vacant and controversial WestHELP site. The WestHELP site, a six-acre parcel located off Knollwood Road adjacent to the campus of Westchester Community…
Read MoreWHITE PLAINS—Realtor Chirag Shah, Principal Broker/Owner of Gateway Realty of Mamaroneck and Lifestyle Westchester, will be honored next month along with the rest of the “Rising Stars” selected by the Business Council of Westchester. The Business Council of Westchester announced its 2018 class of “Rising Stars” on May 3. The winners will be honored on…
Read MoreWASHINGTON—Existing-home sales grew for the second consecutive month in March, but lagging inventory levels and affordability constraints kept sales activity below year ago levels, according to the National Association of Realtors. Total existing-home sales, https://www.nar.realtor/existing-home-sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, rose 1.1% to a seasonally adjusted annual rate…
Read MoreWHITE PLAINS—The continuing decline in for-sale residential housing inventory in the Hudson Valley has put a crimp in overall sales, but has also placed upward pressure on home values. Realtors interviewed by Real Estate In-Depth say the current seller’s market is expected to remain static for most of this year, with strong buyer demand and…
Read MoreWHITE PLAINS—The Hudson Gateway Multiple Listing Service, Inc. (HGMLS) and the Sullivan County Multiple Listing Service, Inc. (SCMLS) announced on April 13 they have finalized an agreement to combine their two MLSs, expanding the HGMLS coverage to five counties in the Hudson Valley. SCMLS currently has approximately 200 agents in 58 primary participating offices, and…
Read MoreWHITE PLAINS— Two veteran Westchester County developers—Martin Ginsburg and Robert Weinberg—pioneers and icons in their respective sectors are teaming up on a project that can finally provide a suitable gateway to Downtown White Plains from the White Plains Train station. The two developers are embarking on a redevelopment of a more than 500,00-square-foot office complex…
Read MoreWHITE PLAINS—HGAR has recently launched a new Global Business Council charged with creating global business opportunities and education for HGAR members. Robert Shandley of Better Homes and Gardens Rand Realty in White Plains is the chairman of the new council. The new council, comprised of approximately 17 people, is planning networking mixers along with educational…
Read MoreTARRYTOWN—An affiliate of the DSF Group has acquired the Talleyrand Apartments complex here in a deal reportedly valued at more than $90 million. Commercial brokerage firm CBRE reported that Jeffrey Dunne, Gene Pride and Eric Apfel represented the seller in the transaction for the 300-unit multifamily community. Multiple press reports citing public records stated that…
Read MoreALBANY—Chief officials of the Hudson Gateway Association of Realtors, while not specifically citing the old axiom, did in fact embrace the tried and true sports strategy uttered by many a head coach that “Sometimes a good offense is a good defense.” The recently passed $168.3-billion Fiscal Year 2019 New York State budget did not include…
Read MoreWHITE PLAINS—Sales of residential housing during the first quarter of 2018 in the lower Hudson Valley market served by the Hudson Gateway Multiple Listing Service, while still strong when compared to the last several years, were flat to somewhat lower as compared to the first quarter of 2017. Sale prices continued to strengthen in all…
Read MoreSANTA CLARA, CA—Rising interest rates and home prices will cause a resounding majority of millennials to modify their home search, perhaps prompting them to seek a smaller or less expensive home or even consider different neighborhoods, according to a survey released on April 4 by realtor.com. Two factors are contributing to market sensitivity from millennials—their…
Read MoreWASHINGTON— New consumer findings from the National Association of Realtors surprisingly show that while a growing share of households in the first three months of the year feel more confident about the economy and their financial situation, those positive feelings are not translating to positive views that now is a good time to buy a…
Read MoreWASHINGTON—With six months remaining in the 2018 federal fiscal year the National Association of Realtors supported the passage of the $1.3-billion omnibus appropriations bill that was approved by the U.S. House and Senate on March 22, and signed by President Donald Trump, despite some misgivings, the next day. The measure funds the federal government through…
Read MoreALBANY—A record number of members of the Hudson Gateway Association of Realtors traveled to the state capital on March 20 and joined Realtors from across the state to press the industry’s legislative agenda that includes advancing the implementation of a first-time home buyer’s savings account and transparency and disclosure in cooperative housing sales transactions statewide.…
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