You know what pairs beautifully with rising home prices, unpredictable mortgage rates, and your third cup of coffee this morning? Brand new legislation that promises to finally look out for the little guy. That’s right—Governor Kathy Hochul has emerged from the shadows of Albany with a shiny new pen and a stack of housing laws so heartwarming they almost make you forget property taxes exist.
Let’s talk about the “Homeowner Protection Program”—not to be confused with the Witness Protection Program, though some buyers might feel the urge to disappear after losing their fifth bidding war. This new law is here to keep struggling homeowners from being ghosted by foreclosure. Think of it as a “we got your back” law… just several years into a housing crisis. The new laws create affordable homebuyer opt-in property tax incentives, empowers communities to redevelop vacant properties into housing, and strengthens laws to combat home appraisal discrimination.
And if you're a renter, grab your pumpkin spice latte and breathe easy (for about five seconds): another bill signed by Hochul now forces landlords to disclose flood histories. That’s right—no more finding out your “cozy garden-level” apartment becomes a koi pond every time it rains.
Meanwhile, here in Westchester and the Hudson Valley, the market continues to be, in technical terms, bananas. The median price of a single-family home in Westchester? A casual $999,000. Because who doesn’t have a million dollars lying around? But don’t worry, sellers—this market is still your kingdom. Just don’t let that throne go to your head.
Buyers? Bless your resilient hearts. You're navigating bidding wars, tightening inventory, and interest rates that flirt with 7% like they're on a dating app. But there’s good news: inventory is technically improving, so your dream home might just be listed... right after someone else signs the contract.
Real estate is emotional, irrational, and wildly entertaining—kind of like Thanksgiving dinner but with more paperwork. So if you’re thinking of buying, selling, renting, or just want someone to explain why your Zestimate looks like a Powerball number…AskHollingsworth.
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