WHITE PLAINS— Westchester County secured a key victory in what has become an acrimonious affordable housing settlement with the federal government recently when the U.S. Magistrate Gabriel W. Gorenstein ruled that the county had provided financing for enough units to meet its 2014 benchmark and that there was no basis for the county to be…
Read MoreWASHINGTON—Several markets across the country are poised for substantial growth in home prices and sales in 2016 – likely topping 2006 even, according to Realtor.com’s recently released housing forecast. Growing household formation, a strengthening job market, and low unemployment rates are good signs that can get more millennials, young Gen-Xers, and retirees moving. However, there…
Read MoreSLEEPY HOLLOW—With approvals in hand for its first phase of development, the developer of what is now being called the “Edge on Hudson” development at the former General Motors assembly plant property here expects to commence site work and necessary infrastructure upgrades in early 2016 to ready the site for what will be a massive…
Read MoreALBANY—Last month, New York State Association of Realtors CEO Duncan MacKenzie and NYSAR Government Affairs Director Mike Kelly attended a meeting with representatives from Gov. Andrew Cuomo’s office and the Division of Budget on an initial proposal to implement a statewide First-Time Home Buyer Savings Account program. The program, outlined in NYSAR’s 2015 legislative…
Read MoreThere is this really talented and cool guy with the patience of a saint. His name is John Jordan. He is affable, smart and really talented when it comes to his job as being editor of Real Estate In Depth...He is a great conversationalist, as one can imagine a "newspaperman" would be. There is only…
Read MoreWASHINGTON— Existing–home sales rebounded strongly in September following August's decline and have now increased year–over–year for 12 consecutive months, according to the National Association of Realtors. All four major regions experienced sales gains in September. Total existing–home sales, which are completed transactions that include single–family homes, townhomes, condominiums and co–ops, increased 4.7% to a seasonally…
Read MoreWARWICK—The Green Team Home Selling System in the Village of Warwick recently got on board with a national promotion designed to encourage people to honor our veterans by changing one light to green in a visible location at home or office as a symbol of appreciation and support for our veterans. Jen DiCostanzo, an associate…
Read MoreMORRIS PLAINS, NJ—The Weichert Family of Companies recently announced the start of the 37th Annual Weichert Toy Drive. Members of the community are invited to drop off new, unwrapped toys at the company’s sales offices through Dec. 11. The toys will be delivered throughout the holidays in conjunction with local charities that assist financially and…
Read MoreYORKTOWN HEIGHTS—Lou Cardillo of the Lou Cardillo Home Selling Team donated $500 to the Purple Heart Homes NY Downstate Chapter for the 5th Annual Veterans Thanksgiving Dinner. In July, Cardillo announced that he would be partnering with the Purple Heart Home NY Downstate Chapter and Carmel Town Councilwoman Suzi McDonough to continue the annual Veterans…
Read MoreSAN DIEGO, CA—Throughout 2015, the National Association of Realtors has enhanced and expanded upon its more than a decade old Realtor Safety program, developing new materials, creating additional resources and providing members with everything they need to feel empowered and confident in their personal safety. Once a week, NAR now shares safety tips via Facebook,…
Read MoreNEW YORK CITY—A total of 13 multifamily buildings in the Bronx have traded recently in the borough’s largest multifamily deal of the year. The Continental Portfolio, owned by Continental Properties of Chatham, NJ and institutional investors advised by J.P. Morgan Asset Management, was sold to an unnamed private investor for $90 million or more than…
Read MoreSUFFERN—The Crowne Plaza in Suffern will be the venue for the Rockland Economic Development Corp.’s 21st Annual Economic Development Awards luncheon on Friday, Nov. 20. The highly popular event will begin at 11:30 a.m. with a networking reception. The program will be highlighted by the official recognition of the REDC’s 2015 award winners. Award…
Read MoreAstorino Claims Vindication on Zoning NEW YORK—While Westchester County government officials say a recent ruling by the United Stats Court of Appeals for the Second Circuit offered “a major vindication” for the county’s position concerning local zoning and home rule, the court in fact sided with the U.S. Department of Housing and Urban Development on…
Read MoreThe Orange County real estate market is continuing to improve with regard to purchase offers accepted, closed sales and listings. There has been a marked increase in activity beginning this past spring after a slower period during a snowy and bitter cold winter. Listings have increased as have closed sales. Purchase offers accepted have risen…
Read MoreTARRYTOWN—HGAR’s 99th Annual Member Appreciation Day, set for Monday, Oct. 19 at the DoubleTree Hotel in Tarrytown, will feature John Gidding, host of HGTV’s “Curb Appeal,” as the keynote speaker. The free event, open to all HGAR members, is expected to draw more than 1,000 Realtors from the Bronx, Westchester, Putnam, Dutchess, Rockland and Orange…
Read MoreHAMPTONBURGH—John Lease III, Broker/Owner of John J. Lease Realtors Commercial Division, announced that the firm brokered the sale of a 40-acre parcel on Neelytown Road in Orange County to Pharmacannis, which has been approved by New York State to grow and sell medical marijuana. The parcel was sold for $7.6 million and is in the…
Read MoreWHITE PLAINS—As first reported in the August edition of Real Estate In-Depth, the Hudson Gateway Association of Realtors officially announced on Aug. 25 that it will be moving its headquarters from The Westchester Pavilion at 60 South Broadway to the top floor of The Source at White Plains early next year. Located at the corner…
Read MoreWASHINGTON—Despite positive improvements in the labor market in recent years, new home construction is currently insufficient in a majority of metro areas and is contributing to persistent housing shortages and unhealthy price growth in many markets, according to new research from the National Association of Realtors. NAR measured the volume of new home construction relative…
Read MoreDOBBS FERRY, NY—The developer of the $130-million Rivertowns Square project off the Saw Mill River Parkway here has secured $42 million in construction financing from M&T Bank and promises to resume work on the mixed-use project. In conjunction with the financing deal, developer Saber Dobbs Ferry, LLC reported that it will stage an official groundbreaking…
Read MoreYONKERS—At the groundbreaking for the $85 million third and final phase of the Hudson Park waterfront rental apartment housing project called Hudson Park River Club here, it was revealed that Strategic Capital, a Chinese-based investment firm, is purchasing the two existing phases and is a partner on the final phase. Arthur Collins, president and co-principal…
Read More