Data shows that from 1996-2021, the Hudson Valley region lost a net total of 146,763 people to out migration, which calculates out to 5% of the Hudson Valley’s population.
Elected officials, seeking to appease vocal constituents, frequently uphold restrictive zoning laws that favor single-family residences over more diverse housing options.
In 2023, the Rockland County Office of Consumer Protection investigated 617 complaints and returned $66,000 to homeowners.
The tenant eviction moratorium has gone back and forth. The U.S. Supreme Court ruled that it was unconstitutional, but also ruled that it could remain in place until it expired in July. Most recently, based on pressures from tenant advocacy groups, the administration extended it again for areas with high COVID transmissibility.
More than $40 billion has already been appropriated in COVID relief bills for tenants and landlords. It has been left to the individual states to administer and disburse the funds and states, most notably New York State, have been slow to get the funds distributed. The National Association of Realtors has joined in a lawsuit to have the current moratorium thrown out based on the court’s original determination.
An infrastructure deal with bipartisan support has been agreed to. It will go through the Senate first and then the House of Representatives. It would add $256 billion to the deficit over 10 years according to the Congressional Budget Office. The bill invests in roads, bridges, highways, trains, broadband, and other hard infrastructure items. This would be the first true infrastructure bill in well over a decade.
At the state level, NYSAR has sent out a call for action that urges Governor Cuomo to sign a repeal of the “cold calling ban.” The ban was reinstated as a result of Governor Cuomo extending the gun violence emergency and has been in effect since the start of COVID. The ban can hamper a business model. Cold calling is a safe activity and obviously is unrelated to gun violence. The ban unfairly targets Realtors and impedes their ability to conduct their normal course of business.
The co-op law in Westchester County went into effect on August 1st. Anyone can go to the Human Rights Commission website to view the form that the co-op board must fill out if they reject a prospective purchaser. The form lists many financial reasons for a board to reject someone. The hope is that the board will provide more specific information with this new form. The Human Rights Commission did a good job in getting a form out in a timely manner. The key now, is to continue to get the word out to our members, and other co-op board participants regarding compliance with this new law. Stay tuned for updates on these legislative and regulation issues.
A significant portion of our end-of-session efforts was focused on opposing legislative proposals that would have negatively impacted New York’s real estate sector.
It is important for an attorney to inform the seller the Property Condition Disclosure Statement does not require a seller to make any independent investigations relating to the subject matter contained in each of the questions contained therein.
NAR had several topics it wanted HGAR and the rest of the Realtor community on the Hill that day to hammer home.
This dispute could have far-reaching implications beyond the real estate industry, as the split-decision ruling from the Circuit Court conflicts with the existing precedent of both the D.C. Circuit Court and the U.S. Supreme Court.
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