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Month: April 2020

Apr 2020

In an abnormal year, Lancaster reassessment goes on as normal

In 2017, Joseph Prybylski bought a 26,000-square-foot multi-use building on St. Joseph Street in Lancaster for $360,000. The property was recently valued by the town for $570,000. An adjoining parcel on Aurora Street was reassessed from $23,000 to $115,000. His residence on Madison Street was assessed at $155,000, up from $105,000. Prybylski, an electrician, would …

Apr 2020

Nearly 3 in 4 Realtors® This Week Report Sellers Haven’t Lowered Listing Prices to Attract Buyers, Suggesting Calmness and No Panic Selling by Homeowners

WASHINGTON (April 23, 2020) – Nearly 3 in 4 Realtors® currently working with sellers this week – 74% – reported their clients haven’t reduced listing prices to attract buyers, according to a new survey from the National Association of Realtors®. This suggests interested home sellers are remaining calm and avoiding panic selling during the uncertain …

Apr 2020

Alternative Appraisals During the Coronavirus Pandemic: What Are Your Options?

Editor’s note: All of HomeLight’s coronavirus information for buyers, sellers, and agents is available on our COVID-19 hub. You might have heard that the Federal Housing Finance Administration (FHFA) has relaxed standards for appraisals. It’s hard to comply with social distancing rules when performing a traditional inspection, and appraisers might be reluctant to potentially expose …

Apr 2020

The Death of the Department Store: ‘Very Few Are Likely to Survive’

American department stores, once all-powerful shopping meccas that anchored malls and Main Streets across the country, have been dealt blow after blow in the past decade. J.C. Penney and Sears were upended by hedge funds. Macy’s has been closing stores and cutting corporate staff. Barneys New York filed for bankruptcy last year. But nothing compares …

Apr 2020

With 100,000 stores set to close by 2025, mall owners face this legal hurdle next

Mall and shopping center owners around the country are getting ready to come face to face with a major legal hurdle: Co-tenancy clauses. The coronavirus pandemic will accelerate the rate of permanent retail store closures, as sales shrink close to nothing with many shops temporarily shut to try to halt the spread of Covid-19. Liquidity …

Apr 2020

NY towns can postpone assessments, Grievance Day because of coronavirus shutdown

Most towns in New York have a deadline of May 1 to publish tentative assessed values for each property. Those values are used to determine the amount of property taxes due. On the fourth Tuesday in May each year, taxpayers can come to town hall to argue their way out of a higher assessment. It’s …

Apr 2020

East Amherst prepares for new “rustic” restaurant

There is a new takeout restaurant that is coming to East Amherst and plans to open for business this month! A former manager from The Columns (Elma), is opening a new restaurant! Unbridled Cafe located at 9380 Transit Road, East Amherst! It is scheduled to open next Thursday 4/30 for takeout. Described as “rustic and fresh”, …

Apr 2020

A look at the 2020 Buffalo apartment market – by Brian Heine

The Buffalo apartment market is seeing large investment from investors outside the area, an occurrence not seen in recent years. Real Estate Investment Trust Welltower of Toledo, Ohio acquired a portfolio of 32 apartment complexes, including four under construction, for $343 million in a joint venture with Williamsville based Clover Management. Welltower Inc., a national …

Apr 2020

Sugar distributor sets up shop in Lackawanna’s free-trade zone

The City of Lackawanna has added another business to its Gateway Trade Zone along the Lake Erie side of Route 5, with a regional distribution facility for cane sugar for a Florida-based company that is expected to create 21 jobs. Founded in 2014 and based in Coral Gables, Sucro Sourcing provides sugar for mills, processors, …

Apr 2020

NYRA moves forward with plans for 40-day Saratoga racing meet

The odds appear to be in Saratoga’s favor that racing will return this year, but chances are it could look much different. The New York Racing Association has contingency plans for holding live racing at Saratoga beginning July 16, that according to sources, run the gamut from fans being allowed to a limit on fans, …

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