The courts in NYS, under certain circumstances, are required to appoint a fiduciary (guardian, receiver, executor, etc.) to handle the sale of real estate. The individual or attorney is required under Part 36 of the NYS Court system to follow constraints and procedural rules that govern the selection of real estate professionals for approval. However, no New York State law universally requires a lawyer to use a “Part 36” real estate broker/agent (or any particular broker) in every case involving indigent individuals, nursing home residents, or decedents’ estates. It generally occurs when a court is appointed and gets involved in handling the process. · What is “Part 36” in NY: · Part 36 of the Rules of the Chief Judge governs “Appointments by the Court”(e.g. guardians, receivers, counse... 10/10/2025

There are jobs that you should begin doing today.  The most significant thing to consider now is turning on and checking your heating system.  Do you have a contract with a service provider to either change your oil filter or air filter on your forced air gas system?  This is crucial to the operating system to ensure there are no issues during the winter. The second most important item to consider is cleaning and flushing out your gutters and leaders, especially if you haven’t done this in a while. As the fall progresses and leaves continue to fall into early December, you will have to do it several times until the process is completed. However, waiting may block the drain and overflow your gutters, which can lead to water going behind your soffits and coming inside your walls, causing... 10/10/2025

  Phil's Home News The purpose of this uplifting newsletter is to provide you with a change of scenery through heartwarming stories, and insightful advice as well as give you a smile for a few minutes. I hope you enjoy!If you know of any local families or organizations that are especially in need at this time, please give me a call or reply to this email. I will do my best to spread the word!   Philip A. Raices Turn Key Real Estate 516-647-4289 Cell 516-829-2205 Office Fax eFax Coming Soon! www.Li-RealEstate.Com   Phil@TurnKeyRealEstate.ComNYS License # 31RA0874656 NYS Corporate License # 109909392 Links You Can Use Now Halloween is here, and it’s time to dress up in your best costume! If you’re stuck for ideas, here are a few links geared towards the most epic Halloween costumes, many ... 10/01/2025

Here’s a reasoned projection (with caveats) for the strength of the the U.S. housing market in Q4 2025 through 2026 — along with key risks and regional caveats you should watch. (Note: this is not a certainty — it’s a synthesis of expert forecasts and macro trends.) Key Signals & Assumptions Some of the main inputs shaping forecasts: Factor Current / Forecasted Trend Implication Mortgage rates Expected to decline from mid-6 % toward ~5.9 % by end of 2026 per Fannie Mae Fannie Mae+1 Lower rates will re-stimulate buyer demand and make financing more affordable. Home sales volume Fannie Mae projects home sales rising — e.g. from ~4.72 million in 2025 to ~5.16 million in 2026 Fannie Mae+4Business Insider+4Fannie Mae+4 Stronger transaction activity as demand recovers. Price growth / apprecia... 09/29/2025

What effect will an autocratic U.S. have on the housing industry? September 23, 2025   Philip Raices The following is my research and thoughts on what would happen: Government Control over Housing Property Rights: In a true autocracy, private property rights could weaken. The government might impose stricter controls on ownership, limit who can buy/sell, or even seize land for state use (which is already occurring today through Eminent Domain via the Fifth Amendment of our Constitution). Taking property for the benefit of the public. Rent Controls & Price Caps: An authoritarian regime might impose artificial rent controls or home price limits to maintain social stability, which could discourage investment. Housing Development: Large-scale state-directed housing projects (similar to what... 09/23/2025

For many Long Island real estate investors, the 1031 exchange has become one of the most effective ways to grow wealth, preserve capital, and reposition portfolios without the immediate bite of capital gains taxes. Under Section 1031 of the Internal Revenue Code, investors can defer taxes on the sale of investment property by reinvesting the proceeds into another “like-kind” property. Given the strength of the Nassau, Suffolk, and Queens markets—and the desire of many local landlords to diversify into other property types or even out-of-state opportunities—understanding the pros and cons of 1031 exchanges is more important than ever.  Pros for Long Island Investors  Tax Deferral = More Buying Power​ Selling a rental in Great Neck, Garden City, or Huntington could trigger hefty capital g... 09/18/2025

  Phil's Home News The purpose of this uplifting newsletter is to provide you with a change of scenery through heartwarming stories, and insightful advice as well as give you a smile for a few minutes. I hope you enjoy!If you know of any local families or organizations that are especially in need at this time, please give me a call or reply to this email. I will do my best to spread the word!   Philip A. Raices Turn Key Real Estate 516-647-4289 Cell 516-829-2205 Office Fax eFax Coming Soon! www.Li-RealEstate.Com   Phil@TurnKeyRealEstate.ComNYS License # 31RA0874656 NYS Corporate License # 109909392 Links You Can Use Now September marks the fall equinox, when the sun is exactly above the equator and the Northern Hemisphere begins its seasonal shift into fall. So this month, we’re looking... 09/04/2025

Owning a home today isn’t just about the mortgage, taxes, and insurance. Other additional variables come into play that add to the ongoing cost of homeownership.  Some may not consider this when purchasing.  Items like weekly and monthly maintenance, exterior services to maintain the outside of one’s home.  These can be handled by the homeowner, assuming they have time.  However, there are those bills that you do not have total control over, such as electricity, heating and water.  Homeowners look at their utility bills and wonder why they are so high.   The problem is twofold.  Many do not conserve efficiently.  Lights left on in rooms, CAC on a lower than necessary temperature, especially when no one is home.  Most modern thermostats can be controlled by your cell phone and can be set... 08/22/2025

  Phil's Home News   Philip A. Raices Turn Key Real Estate 516-647-4289 Cell 516-829-2205 Office Fax eFax Coming Soon! www.Li-RealEstate.Com   Phil@TurnKeyRealEstate.ComNYS License # 31RA0874656 NYS Corporate License # 109909392 Quick Quiz Each month I'll give you a new question.Just reply to this email for the answer.How many awards did Julie Andrews win for her portrayal of Mary Poppins? Reply to this email Ask the Agent What Is a Conditional Offer? A conditional offer is an offer to buy a home that is contingent upon one or more events being finalized before the home can be sold. Something has to occur on the part of the buyer or seller, or both, prior to a sale successfully closing. Conditions on the buyer’s side could be the sale of another property, obtaining a loan or having the ... 08/04/2025

  Phil's Home News The purpose of this uplifting newsletter is to provide you with a change of scenery through heartwarming stories, and insightful advice as well as give you a smile for a few minutes. I hope you enjoy!If you know of any local families or organizations that are especially in need at this time, please give me a call or reply to this email. I will do my best to spread the word!   Philip A. Raices Turn Key Real Estate 516-647-4289 Cell 516-829-2205 Office Fax eFax Coming Soon! www.Li-RealEstate.Com   Phil@TurnKeyRealEstate.ComNYS License # 31RA0874656 NYS Corporate License # 109909392 Links You Can Use Now During these hot summer months, it’s pretty essential to take every opportunity to cool down, especially if it involves a delicious frozen treat! Ice cream, popsicles, f... 07/31/2025

There are three guarantees in life: birth, taxes, and death. The first one occurs without any effort on one’s part.  Paying taxes is somewhat controllable and determined by your entrepreneurial spirit, expertise, and timing, being in the right place at the right time, and having the most qualified CPA. However, death is inevitable, and planning to be prepared with the necessary and required paperwork will enable your heirs to have less of a financial burden and to be able to keep as much of your estate as possible.  Another thought is that if you might need to go on Medicaid (we don’t really know the end result based on the BBB that was passed), there is a 5 year look back to see what your assets are to ascertain if you will qualify. Inheriting a home and/or real estate or any other val... 07/24/2025

There are many states and localities where housing inventory has increased drastically, as buyers have been retreating back on the fence waiting for lower rates. Moreover, financially, they just can’t afford the current prices. Mortgage rates have been hovering between 6.5% and 7%. When you add the other costs of insurance and the ongoing costs of ownership, this market has caused many to move to the sidelines to wait and see when, and if, rates and especially prices will subside.   Prices will still be stable, increasing slightly, until there is a marked decrease in demand on Long Island. However, Jerome Powell, our Fed Chair, isn’t succumbing to pressure, as Trump is trying his best to do so) to lower rates. He is still waiting for the market to provide him more concrete insight to d... 07/16/2025

The Pros and Cons of Reverse mortgages You are now retiring or have already retired, and you are reviewing your finances. Learning how to live within your means has become increasingly challenging for many homeowners today. Deciding to take a part-time position to earn additional income is one solution. Thinking about working puts a knot in your stomach, and it’s not the most desirable solution for you. Maybe you have health issues that prevent you from working or you are not in the mood mentally to consider a job once again. Enjoying one’s retirement has its challenges, whether financial or health-wise. You thoroughly enjoy where you reside and are not interested in moving somewhere else that could lower your expenses. You need to decide how you will manage your daily and monthly expen... 07/08/2025

Both of you have decided to consider purchasing a home. You’re thinking of a single-family home, condo, or co-op, but need to consult with a mortgage professional to determine what you qualify for before beginning your search. This should be the first step, rather than running around searching for your first or even dream home without understanding all that is involved in financing the purchase. You aren’t currently married, but may have plans to tie the knot in the future. You both desire to consider purchasing instead of continuing to rent. However, both of you should have a legal document to minimize the headaches and pain that you want to avoid, if and when a breakup were to occur, as so many have experienced over the years. As they say, the only guarantees in life are birth, taxes,... 07/04/2025

Phil's Home News   Philip A. Raices Turn Key Real Estate 516-647-4289 Cell 516-829-2205 Office Fax eFax Coming Soon! www.Li-RealEstate.Com   Phil@TurnKeyRealEstate.ComNYS License # 31RA0874656 NYS Corporate License # 109909392 Quick Quiz Each month I'll give you a new question.Just reply to this email for the answer.What is the name of the typical red-and-white checked picnic blanket pattern? Reply to this email Ask the Agent Is It a Good Idea to Get Preapproved?As a serious homebuyer, you need to do everything you can to put yourself in a strong position to negotiate a purchase on a home. Before you even look at a home, the best thing you can do is to visit a mortgage lender and get preapproved for a loan. Sellers are more willing to negotiate when you have a preapproval letter submit... 06/30/2025

As we approach July 4th, or Independence Day, it marks the date in 1776 when the Second Continental Congress formally adopted the Declaration of Independence, announcing that the thirteen American colonies regarded themselves as free and independent states, no longer under British rule.I hope July 4th and the month becomes an Uplifting one for everyone and their Families, friends and business associates. Phil's Home News The purpose of this uplifting newsletter is to provide you with a change of scenery through heartwarming stories, and insightful advice as well as give you a smile for a few minutes. I hope you enjoy!If you know of any local families or organizations that are especially in need at this time, please give me a call or reply to this email. I will do my best to spread the w... 06/27/2025

May we all remember, cherish, understand and appreciate the sacrifices made by all those who defended our freedoms and Democracy. 05/26/2025

So, today’s question is where is the best and safest place to park your investment dollars?  I firmly believe it is rental real estate.  It’s a long-term play.  Your tenants over the years will continue to pay down your mortgage and potentially providing some positive cash flow monthly.  However, there is some effort that you will have to provide or hire someone to assist you to simplify the process.  In my professional opinion, there is much less uncertainty with the right real estate investment, than playing the stock market. The stock market has been so volatile and unpredictable that one never really knows where it will be heading going forward.  Now the tariffs against China have been reduced from 145% to 30%, paused for a period of 90 days, things might look very rosy indeed.  How... 05/17/2025

All Things Real Estate  By Phil Raices Posted on April 30, 2025   Over the years, a defining real estate factor for the majority of home purchasers has been location, location, and the school district. This was understandable, especially if you already had or planned on having children in the future Today’s high prices of homes, condos and coops dictate who has the wherewithal to afford to move to a highly rated school system. Moreover, the availability and diversification of Special Education programs is another asset to consider when choosing a town. This is a dilemma for many who want the best education for their children but may be limited due to the high interest rates and prices as well as their defined budgets and qualifications to be approved for a mortgage. Paying high rents a... 05/01/2025

  Phil's Home News   Philip A. Raices Turn Key Real Estate 516-647-4289 Cell 516-829-2205 Office Fax eFax Coming Soon! www.Li-RealEstate.Com   Phil@TurnKeyRealEstate.ComNYS License # 31RA0874656 NYS Corporate License # 109909392 Quick Quiz Each month I'll give you a new question.Just reply to this email for the answer.How many people were in the line for the world’s longest conga line on skates? Reply to this email Ask the Agent What is a Breach of Covenant? A covenant is a binding contractual agreement between two parties to do or not to do a specified act. Covenants are usually enforceable by the courts if they are reasonable, clear, definite and lawful. A breach of covenant is the failure to obey a previously agreed-upon legal arrangement that was created honestly and in good faith. ... 04/01/2025