Rockland County New York Real Estate
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So: What’s happening with the Nanuet Mall?
Last I heard, the are applying for permits, building an upscale outdoor mall with high end tenants but at this writing not saying who. They have barricaded the indoor space between Macys and Sears, therefore, the only entrance to these stores is from the OUTSIDE. The inside entrances are sealed off forever.
Estimated time for completion is 2.55 or 3 years….
If you know anything, please comment. We’d love any news.
Well, I’ve been reading lately that there are plans to revitalize The Nanuet Mall. I must confess I was hoping that they would combine housing with some really nice restaurants and stores. When you’re a realtor you hear constantly about the lack of affordable housing for the baby boomers. Boomers want to be able to walk to shops/stores,etc. But it’s not just the boomers who are attracted to that lifestyle. Today’s younger generation wants to walk to starbucks, the gym, restaurants and stores too.
Also, boomers are moving out in droves to The Carolinas, Florida, Arizona and points South and West. It’s a mystery to me why so many states are able to provide adequately for their residents and keep their tax base considerably lower than lower New York. Actually it’s not really a mystery, but this is not the venue for politics.
So we watch and wait to see what will happen with The Nanuet Mall. Scheduled opening for the rebuild (not reno) is 2014.
Take a look at what Tony Balletta, a trusted Rockland County Appraiser has to say. Click on the
image below.
Updated: November 19, 2009 – Summary (with full details below)
Here is the latest: Effective Nov. 6, 2009 the changes to the home buyers tax credit program include the following:
Homes have to be purchased between November 6, 2009 and June 30, 2010
(in full contract by April 30).
Closing documentation now required.
Existing home owners are now eligible if they have owned a principal residence for 5 consecutive years out of the 8 years preceeding the purchase of a new home.
Income limits have been raised.
Will spring showers melt away the big bad witch of fear?
* A declining stock market which needs time to rebound from its losses
* Retirement accounts dwindling
* Skyrocketing unemployment ~ and more layoffs or job cuts this year.
* Home prices and home sales have declined year after year since August 2004 and according to the National Association of Realtors, the greatest price decline since 1968. This all translates to markets and consumers who are seeking safety.
We’ve all heard the news, both the bad and the good. The negative news is outlined above, including how difficult it is secure mortgage money right now. The more positive news is that truly, and historically, this is one of the best times in decades for anyone to purchase real estate. Low mortgage rates, (the lowest in 50 years) tax incentives, and perhaps more on the horizon. People everywhere are hoping that these efforts will serve to stabilize our housing market and help create that elusive CC.
If you are a frequent visitor to this site, you know that I continually harp on the importance of properly pricing your property so that it is positioned well in this incredibly competitive market. You also know that we have been tracking inventory. Declining inventory serves to stabilize home prices. So … as usual, we will be watching the next three (3) to six (6) months closely. It will take that amount of time to see if “the buyers are back”.
914.420-7500 ~ Contact
Angela is a real estate veteran. For 30+ years, Angela has served three different market areas, namely Virginia, Upstate New York and most recently Rockland County NY. Angela couples her real estate experience and technical expertise to offer her clients the best in Traditional Real Estate with the power of today’s technology.
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