Nye Properties LLC

NEW YORK STATE: Evictions halted indefinitely during the crisis.

NATIONALLY - 60 day moratorium will suspend evictions and foreclosures: HUD foreclosures until end of April, Freddie Mac & Fannie Mae foreclosures until mid-May.

Attention INVESTORS & FLIPPERS. New York State is looking at legislation to impose taxes on all property re-sold within 2 years of purchase. Obviously this is directed at investors / flippers, but this also hurts your average homeowner who may have to move within a year or two for common everyday reasons. This has not yet passed, but it's good to keep an eye on what the state is doing. There have been many changes to the real estate industry in the last year or two at the state level. While the state may think they are helping the public in some way, they are actually hurting our communities by inflating resale prices, and discouraging improvement and renovation of dilapidated buildings, yielding more zombie properties, and less property tax income for the state as a whole.