As you all may know, the real estate market in our area has become strong again within the past few years. We also know that this is primarily due to "supply and demand," coupled with historically low mortgage rates. The low interest rates are motivating many buyers to get out and buy before there is an increase in…
Read MoreNEW YORK—Shortly after Gov. Andrew Cuomo signed legislation that would impose fines of up to $7,500 on hosts of rental housing portal Airbnb that break state and local housing regulations, Airbnb filed a federal lawsuit on Friday Oct. 21 to overturn the legislation. According to a report in the New York Times, Airbnb contends in…
Read MoreHGAR recently launched its new “Breakfast with Benefits” program, designed to provide free and interesting information to HGAR members. The Association kicked off the program with guests from SunBlue Energy of Sleepy Hollow, a company specializing in solar energy solutions and systems in the Hudson Valley. More than 75 people attended the event, held at…
Read MoreWHITE PLAINS–The third quarter in the four-county region of the Hudson Gateway Association of Realtors continued an all too familiar, albeit pleasant theme—continued strong sales volume and little price appreciation that might put the brakes on activity going forward. According to the third quarter residential real estate sales report released recently by the Hudson Gateway…
Read MoreMONROE—New York State Supreme Court Justice Gretchen Walsh has found no reason to invalidate the environmental review or the controversial approval of a 164-acre annexation of properties in the Town of Monroe to Kiryas Joel. The 94-page decision was a victory for Kiryas Joel and a setback for Orange County, eight municipalities and Preserve Hudson…
Read MoreNew York State currently has the longest foreclosure timeline in the country, typically just under three years. If you are a homeowner in New York facing the prospect of foreclosure, this article is designed to give you a brief overview of the foreclosure process in our state. Foreclosures are judicial in New York, which means…
Read MoreNEW YORK—U.S. Attorney Preet Bharara announced on Sept. 28 that the federal government had filed a civil rights suit against longtime Westchester developer Ginsburg Development Companies of Hawthorne for alleged design failures over handicapped access at two completed rental communities in Rockland County. The U.S. Attorney for the Southern District also reported that the U.S.…
Read MoreNEW CITY—Days after Rockland County Executive Ed Day announced that he was making good on a promise to foreclosure on non-residential properties with long outstanding tax bills, the owner of the property with the largest delinquency paid his obligations in full. A certified check in the amount of $81,173.32 was received by the Rockland County…
Read MoreBRONXVILLE—Residential brokerage firm Houlihan Lawrence recently announced the grand re-opening of its historic Bronxville brokerage office at 4 Valley Road. To celebrate Houlihan Lawrence’s investment in its Bronxville brokerage and continued success in the community, their team opened its office doors to the surrounding community for a night of live music, cocktails and hors d’oeuvres…
Read MoreMOUNT KISCO—Café Realty will host a grand opening celebration at its new expanded location in Mount Kisco at 239 Lexington Ave. on October 19. The office opening coincides with the company’s third anniversary in business. “We are pleased to extend this invitation to the real estate community, said Carol Christiansen Principal Broker/Owner. “The office is…
Read MoreWASHINGTON—Single-family home construction is currently lacking in 80 percent of measured metro areas despite steady job creation and the low activity is creating a housing shortage crisis that is curtailing affordability and threatening to hold back prospective buyers in many of the largest cities in the country, according to new research from the National Association…
Read MoreCHAPPAQUA—Development firm Wilder Balter Partners of Elmsford has been selected to turn the iconic cupola building of the former Reader’s Digest headquarters here into a unique and innovative mix of market rate, workforce and affordable apartment homes—The Apartments at Chappaqua Crossing. The Elmsford-based developer has signed a long-term lease for the classic building with Summit/Greenfield…
Read MoreThe real estate market in 2016 has been extremely busy in Orange County. I believe that the biggest change this year has been the large increase in the number of homes that have sold. In both the first and second quarter, Orange County has seen an increase in the number of homes sold by about…
Read MoreNEWBURGH—Can aiding one neighborhood help an entire city? A set of grants from the National Association of Realtors and the Hudson Gateway Association of Realtors will look to do just that in the City of Newburgh with the assistance of the nonprofit research and policy group Hudson Valley Pattern for Progress. Grants totaling $16,500 have…
Read MoreNANUET—Holliday Fenoglio Fowler, L.P. announced earlier this month it had closed the $147-million sale of eaves Nanuet, a 504-unit multi-housing community in Nanuet in Rockland County. HFF marketed the property exclusively on behalf of the seller, AvalonBay Communities, Inc. A joint venture between Harbor Group International, LLC and Azure Partners LLC purchased the asset free…
Read MoreYORKTOWN HEIGHTS—Coldwell Banker Residential Brokerage in Connecticut and Westchester County announced that $61,600 was raised for Friends of Karen Inc. through the 10th annual Coldwell Banker-Erin O’Connor Memorial Golf Outing. The tournament is held annually in memory of Erin O’Connor and raises funds for Friends of Karen, a nonprofit organization that supports critically ill children…
Read More421-a is a concession for multi-family residential buildings in New York City that allows developers to obtain a tax abatement in order to create affordable housing. The abatement freezes taxes for many years in exchange for additional inventory at below market rate rentals. Critics contend the program does not really provide an adequate number of…
Read MoreKIRYAS JOEL—Representatives of the Village of Kiryas Joel announced a plan earlier this week to begin a petition drive that would seek to have the Orange County Legislature approve the formation of the new Town of North Monroe, which would consist of the existing Kiryas Joel community and reportedly an additional 382 acres outside of…
Read MoreWHITE PLAINS—The popular lore for some time among many real estate professionals and most media pundits is that Millennials are shunning the suburbs and instead are flocking to major cities in search of collaborative office space and rental housing in a “24-7 live-work environment.” A report appropriately entitled “Myth Buster: Young Americans Do Like The…
Read MoreNANUET—Better Homes and Gardens Rand Realty has announced it was awarded the Middletown Times Herald-Record’s Readers’ Choice Award for top real-estate agency in the Hudson Valley. “We’re honored to be given this recognition by one of the region’s top publications,” said Joseph Rand, managing partner of Better Homes and Gardens Rand Realty. “The Hudson Valley…
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