News
Court Approves $418-Million NAR Settlement of Commission Class Action Case
NAR officials noted yesterday that the court heard from all parties as well as objectors and the Department of Justice. Once arguments concluded, the court quickly ruled to grant final approval.
NAR: Proximity to Family and Friends, Affordability Drive Relocation Trends in 2024
Outdoor space was especially important to movers to the Midwest, while movers to the Northeast were particularly driven by the need for more square footage and a better work commute.
LEGAL CORNER: NYC Passes the FARE Act and Restricts the Payment of Commissions by Tenants
The real estate industry has expressed concerns regarding the potential repercussions of the FARE Act.
What to Expect Ahead of the Final Approval Hearing on NAR’s Settlement
NAR continues to believe that offers of compensation are an important option to help make professional representation more accessible.
SPOTLIGHT ON: Nancy Rondon
Starting out in her 20s, Rondon worked with real estate legend Faith Hope Consolo while at Garrick Aug Associates, where she spent 13 years.
U.S. Existing-Home Sales Grew 3.4% in October; First Year-Over-Year Gain Since July 2021
“The worst of the downturn in home sales could be over, with increasing inventory leading to more transactions,” said NAR Chief Economist Lawrence Yun.
RM Friedland Strengthens Connecticut Presence with Strategic Hiring of Experienced Market Leaders
The hirings mark RM Friedland’s continued expansion into Fairfield County by hiring two true market specialists who are deeply rooted in Fairfield County’s business network.
HGAR: October Single-Family Homes Sales Rose in All Lower Hudson Valley Regions
That fact that both sales and home prices continue to increase is an indication of the high demand and low supply that exists throughout the New York metro area and lower Hudson Valley,” said HGAR CEO Lynda Fernandez.
OneKey MLS: Regional Home Prices Posted a Steady Yearly Increase in October, But a Cooldown on a Monthly Basis
In October, the regional single-family closed median sale price was $706,000, marking an 8.6% year-over-year increase from $650,000 in October 2023.
Distelburger and Perez Receive the NYSCAR Creative Dealmaker Award for 2024
The award was cited by the Hudson Valley Chapter of NYSCAR for the agents’ work in facilitating the sale of Eastgate Business Park in Goshen.
Gov. Hochul Proposes Lower Congestion Pricing Fee; Plan Meets with Mixed Reaction
MTA CEO Janno Lieber and others expressed support for the lower tolling fee that the governor said would bring in the $15 billion to the MTA that the higher fee was projected to raise.
New York City Council Passes ‘Broker Fee Bill’ Over Real Estate Industry’s Objections
The FARE Act will undoubtedly lead to higher rents and reduced access to available rental listings for prospective tenants, exacerbating housing affordability challenges New Yorkers already face.