Many of us want a home, whether a large spacious one or an average-size one of 1,800 sq. ft. or a medium size of 2,273 sq. ft. as was the case in 2021, according to Realtor.com  But what was affordable and reasonably priced years ago is now beyond the reach of a majority of purchasers, due to higher interest rates and prices as well as the continued increases in monthly costs.In a June 6th article in Yahoo Finance, there were only four U.S. cities where it was more economical to buy than to rent, which were Detroit, Philadelphia, Cleveland, and Houston.  More than 50% of the homes in those specific markets were more affordable to buy than to rent.  I have said in a previous column that New York State as well as well as other states are losing their young populations and families.  Not m... 10/06/2023

For those who purchased their home recently or years ago repairs have to be addressed, but the cost of doing them has increased drastically, especially over the last few years.Not everyone has the money to be able to accomplish these things.  Trying to take on  tasks, like a leaky faucet, changing a lock, or electrical issues may be simple for some, but for others hiring a professional may be the only course one can pursue.Leaning how to do small tasks, however, may be as simple as just going on YouTube.com and searching for topics about exactly what has to be done.  There are a multitude of instructive videos that will walk you through the simplest repairs to those that require much more knowledge and skill to undertake to master the job.Most homeowners who are employed full-time do no... 09/21/2023

 I have been reading all the comments by the political pundits and the public about accepting and not accepting or agreeing with Gov. KathyHochul’s proposal for 800,000 new units of housing that needs to be constructed over the next 10 years.  I believe in my professional opinion that the concept is exactly what is absolutely needed to keep our consumers, especially Millennials, GenZs, and all others from exiting New York State.However, the proposal was way too authoritarian to exact an executive order to usurp all local zoning rules, regulations, and laws, which I believe is absolutely the wrong method and solution to pursue in solving our lack of housing.We have been losing population for the last 10 years (180,000-plus just in 2022) even though former Gov. Cuomo’s idea of trying to a... 04/27/2023

We have been extremely lucky this past winter, with the least amount of snow falling locally as well as the longest wait (Feb 1st) for snowfall in 150 years, which barely measured 0.4 inches according to The Weather Channel.  On the other hand, California and other areas out west had the 2nd highest record snowfalls in the Sierra Nevada Mountains of 56.4 feet, the 6th snowiest on record dating back to 1869.  It has completely eliminated the severe drought that has plagued California and other surrounding states and locations.  The surprising thing was that I saw crocuses and other small flowers blooming in February which I had never experienced in the past.  This led me to think about the exterior of my own home and plan what I would be planting this spring.  Out on Long Island, the gro... 04/22/2023

  0      It sure does appear that our market is still moving expeditiously along, although in some areas it’s a bit slower depending on the listing price, type of property, location and school district as well as the negotiability of the sellers today.   There are still some buyers who qualify for a mortgage and are putting down 20% to 30% with 700 credit scores or better and low debt/income ratios, making it easier to qualify for their financing. Then again, there are others purchasing for cash and buying outright without any financing.  This appears to be relevant in the states and locations where a majority of purchasers have moved from higher-priced states.   The top 10 states that have had losses in population in 2022 and 2023 (and some over the last 10 years) are New York, Illinoi... 04/13/2023

     I am not sure which is more neglected these days, the upkeep of your home or one’s yearly physical.  I am fairly sure that it would be a tie as many homes’ interior and exterior need anywhere from some basic fixes to major repairs and upgrades.  I also know from conversing with many people, that there are those that also neglect their yearly checkups, colonoscopies (after age 50), or even going to the dentist on a regularly scheduled basis. It doesn’t always matter what the income may be, people procrastinate and put off personal things and agendas because they may not have the budget, don’t care or just plain don’t worry about anything, until an issue or emergency arises. If and when you are ready to sell, it is important to have your home prepared before your buyer’s inspection.... 03/07/2023

All Things Real Estate:       With all the buzz lately about AI, I have been pondering this weekend as to what the future will look like with the technology that has been and will be created going forward.  Take ChatGPT, a product of OpenAI, which Microsoft recently funded with $10 billion. Microsoft had previously provided startup capital for the company back in 2019 and 2020. How will this application potentially affect property, investors, and our real estate industry locally, nationally and globally?  I truly believe we are already in Web 3.0, a new era for the worldwide web, and evolving along at hyper-speed with artificial intelligence as well as the blockchain technology that will provide the power for decentralization, free digital identities with crypto wallets, and open digita... 02/24/2023

In the last few weeks, I have had several inquiries concerning capital gains on the sale of one’s primary residence.  There is a multitude of variables that come into play.  It would be smart to strategize and determine in advance of selling if there will be any capital gains to be paid.The first step is to check out those homes that have sold recently (in the last three months) in your area that are similar to yours in terms of bedrooms, baths, EIK, interior square footage, lot size, and condition. Then take that price and do a hypothetical calculation. You can use the following as an example:∙Comparable sale:                        $975,000∙Your original purchase price:       -$∙All capital improvements:           -$∙Married:                                   -$500,000∙Or single:     ... 02/24/2023

Homeowners sometimes forget one of the most important life-saving preventative maintenance and a simple chore to do in their home or apartment is to replace the batteries in the fire and smoke alarm.  This must be done on a yearly basis or as needed; when a red light flashes or you hear a slight beeping sound.  If you are hardwired via your electrical current for your detectors then you are in the most advantageous position for safety. According to an article in February 2021, by the National Fire Association with its 50,000 members, the following was found in a report that they published about home fires:1.) Smoke alarms were present in three-quarters (74 percent) of reported home fires in 2014–2018.2.) Almost three out of five home fire deaths were caused by fires in properties with n... 02/06/2023

Since 2020, the Pandemic, causing the shutting down of the majority of businesses and coming to a standstill; causing people and families to exit major cities away from the crowds and Covid 19 to work remotely from the supposedly safer less dangerous environment in suburbia.  This was one of the stimuli along with the lowest rates on record that propelled the local and domestic U.S. real estate market to excel to heights never experienced in history.  This led to a white-hot sizzling period of time in our real estate market to a much quicker transition in the past year to a more frigid and chilled climate with the doubling of rates. This has occurred more so in the locations where builders and fix and flippers out west have completed and pending construction sitting idle for the last 6+... 01/31/2023

  By Philip A Raices - January 16, 2023 0   Unfortunately, we are again approaching our debt limit. Since 1960, Congress has acted 78 times to consider either temporarily extending or permanently increasing the debt limit or revising the meaning of the debt limit; 49 times under Republican presidents and 29 under Democratic presidents. Janet Yellen the secretary of the Treasury, sent a letter to Congress on Jan. 13 that our current U.S. debt limit was raised to $31.381 trillion on Dec. 16, 2021, and will be reached on Jan. 19, 2023, which will be 138% of GDP. In 2013 it was 100% of the GDP.The pandemic caused a liquidity crunch with the excessive (virtually created) $8 trillion infused into the market (but not printed). I have read recently that increasing the money supply doesn’t cause... 01/17/2023

  By Philip A Raices - December 15, 2022 0   In the United States everyone is entitled to purchase a home who is gainfully employed and has adequate income, credit, and debt-to-income ratios to qualify under the Fair Housing Act. However, discrimination and ownership disparity still occurs and exists between white and black households as per an article by The National Association of Realtors back on March 3. Here is a link to the article, which explains in greater depth the housing disparity among white and minority groups: https://www.nar.realtor/blogs/economists-outlook/racial-disparities-in-homeownership-rates According to the article, Black homeownership has increased to 43.3% but is still lower than it was 10 years ago. Moreover, Hispanic and Asian households have increased their h... 12/15/2022

 You have finally found “your place to call home” arrived at an agreed price and been accepted on your purchase of a co-op. You have submitted your offer with your pre-approval from your bank or if cash, proof of funds. Some sellers will ask to see your financials prior to going to contract to be confident that you are financially strong enough to pass the co-op board.Then the contract is made up by the seller’s attorney and sent to the buyer’s attorney for review. Once all the terms are agreed upon by the attorneys and their clients and the final contract is drafted, then the contract is signed first by the buyer and then the seller. All required agency, lead, housing anti-discrimination, and buyer disclosures should also be signed, too, by both parties.Over the last few years, I have ... 12/08/2022

When it comes to affordability, financial profile, and lifestyle, whether an initial purchase or downsizing, everyone has different needs and wants. Some who have the finances will choose a condo or townhome for the luxury, doorman, and amenities, such as a pool, tennis, and security. However, others will choose based on the affordability that a co-op provides. Prices will obviously depend on the building and its infrastructure, financial strength, and whether one, two, or three-plus bedrooms and accompanying bathrooms suit the buyer.Co-ops can be upwards of $100,000 less, minus most of the amenities provided by a condo or townhome. Sales applications and board approval are mandatory. Whether it is a doorman or gated community for security, pool, tennis, golf, or gym, the level of extra... 12/05/2022

There is no doubt that the increases in mortgage rates have slowed down the housing market over the last six months, but it’s not even close to what occurred in 2008. The inventory accumulation back then was 10.4 months (MLS stats) whereas currently, it is 3.2 months. So bubbles in inventories generally cause prices to go down as supply becomes greater than demand (the typical supply/demand economics) and competition among sellers becomes heightened, which leads to lower prices.Currently, we have much higher prices and interest rates so the prospect of becoming a homeowner has faded for so many. The lines at open houses are gone and offer at asking prices and above are gone. Properties are still selling, however, and although prices are moderating, they are still holding — again due to ... 11/18/2022

Are You Looking To Work With REALTORS® Who List and Sell in Great Neck Long Island? CALL: Lawrence “Larry” and Sheila Agranoff, Licensed Real Estate Associate Broker & Licensed RE Salesperson.   CELL: 631-805-4400   We Can Help You Find Your Great Neck Long Island Home or Condo, and Can Help You Sell Your Present L.I. Home or Condo. As a Husband and Wife Long Island Team, we have represented many Home Buyer’s and Home Seller’s throughout our career in helping them reach their goals.   Call our Cell: 631-805-4400, and let's chat about your Long Island Home Buying or Selling Journey.   If you are buying on Long Island, as your trusted Real Estate Professionals we will help you find the best home or condo in the area within your price range.   If you are selling your residence on Long Isla... 11/05/2022

LISTED. SHOWN. SOLD!REALTORS® Lawrence "Larry" and Sheila Agranoff  *SOLD* Another Nassau County Long Island Home. This Time it was in Great Neck, New York.  We Listed this Home. We Showed This Home. We SOLD This Home! And For Over-Asking Price, With Multiple Offers, In ONE Day! Are You Ready To Sell Your Nassau County or Suffolk County Long Island Home Too? Sell With Confidence By Calling and Listing Your Long Island Home or Condo With REALTORS® Lawrence & Sheila Agranoff. Cell: 631-805-4400  Search Here For Long Island Homes 07/15/2022

FOR SALE4 Burbury LaneGreat Neck, New York 11023 Vintage Colonial Home Circa 1925...With Unlimited Possibilities in Great Neck Long Island! This Comfortable Home on a Prime Residential Block is Nestled in the Heart of Great Neck, Nassau County New York. Offering Generous Size Living Room with Parlor Niche* Nice Size Dining Room* 3 Bedrooms* 2.5 Baths* Finished Basement w/Laundry Area* Detached 2 Car Garage, and Well-Maintained Backyard with Deck. Location! Location! Location! Rare Opportunity in Great Neck L.I.!  Call The Listing Agents Lawrence & Sheila Agranoff for all the details.  Cell: 631-805-4400 Search Here For Long Island Homes 04/25/2022

All Things Real Estate By Philip A Raices - March 1, 20210 22 Who will you be hiring when selling, investing, purchasing, renting, or leasing your residential or commercial real estate, a salesperson or a consultant, or both? Hopefully, you will find a professional who is a hybrid and represents a combination of both types. Everyone who is selling needs a salesperson to seek out the most serious, motivated, qualified income and the creditworthy purchaser who will fall in love with your home, right? But at the same time has the savoir-faire and astute knowledge to be a professional consultant by asking probing questions to ascertain, narrow down and pinpoint those who are the real buyers from those who are the tire-kickers and shoppers, out for a day perusing homes for whatever reason. ... 03/01/2021

 Here is a unique community in the Heart of Great Neck Long Island. Portico At Great Neck is a 24 hour guard-gated community in Nassau County New York in Zip Code 11021. Located In The Heart of Town, you can reach Portico by The Long Island Expressway Exit 31 (Lakeville Road) to Middle Neck Road. A right Turn on Maple Drive and a left on Bond Street will bring you to the gated entry. Portico is comprised of a 4 Story Elevator Building, and Attached Townhouses. The 4 Story Doorman Building includes underground parking, and the Townhouses have either a 1 or 2 car garage.  Amenities Include a Gym and a Party Room, and there is a monthly common charge fee to cover the costs. Pets are welcome. The complex is served by The Great Neck School District #7.  This North Shore Long Island neighborh... 08/11/2019