Philip A Raices -April 8, 2024   In the current real estate market, purchasing a co-op has been challenged by the rules and regulations that go hand in hand with completing the required board application and successfully passing the interview. Acceptable income, credit, and debt-to-income ratios will go a long way in reaching that happy ending. However, all boards in Nassau County have no outside oversight and accountability, as Suffolk County does. When a board turns down an applicant there, the board must respond within 45 days to explain to the respective applicant the reason or reasons why. In Nassau, there aren’t regulations that provide feedback to the purchaser when they are turned down. This allows those few who may indiscriminately decide not to allow a buyer to purchase. Disc... 04/08/2024

 Share  Tweet  Pin  Email  Share If you haven’t seen or read the recent news, I will tell you the two colossal stories.  The National Association of Realtors settled its case with the Justice Department concerning the “supposed” fixing of commissions.  It was a whopping $418,000,000.  However, Berkshire Hathaway is the only brokerage that is appealing their case, as Warren Buffet has unlimited funds of $135 billion in cash and assets to pursue fight to prove his company’s innocence.Whereby, the ex-president penalty was considerably more.  He has to come up with 110% of the charges of $454 million by about March 25 or lose the opportunity to appeal his case!  However, we know what happened with that deadline as it was pushed out another 10 days.  It's quite remarkable, but quite normal ... 03/30/2024

It’s time to start thinking about the exterior of your home as we have been somewhat cooped up inside during the winter months and have longed for the warmer days ahead. But based on my gas bill, it’s been a fairly mild winter and it wasn’t as cold as one would have anticipated. Thanks to global warming, I appreciate it a lot. But not really! Does your lawn appear, gray and wishy-washy? Did you do your winter fertilization, as I suggested in a column last fall? Did you apply an anti-desiccant to your winter wind-prone and now slightly burned shrubbery, again as I suggested last fall? If you notice brown leaves on all your non-deciduous (trees and shrubs that do not lose their leaves or needles) plantings, it’s too late to do anything about it right now. However, you can begin to do a l... 03/24/2024

 February 23, 2024 Well, we are now into 2024 and interest rates have come down from the high of 8%+ in 2023, and now according to https://WWW.NerdWallet.com, 30-year fixed rates w/full doc loans are vacillating in and around 7%-7.9% APR depending on one’s income, credit and debt/income ratios as well as the lender. Fifteen-year rates w/full doc loans are hovering around a low of 6%+ APR.  Many of the expert economists are not 100% confident that they will go down and some even contemplate that they could even still increase, depending on the inflation numbers. One thing is for sure,  our government says inflation has increased and is hovering around 3.9% in February; affected mainly by consumer spending, supply-chain shortages, and I believe even unemployment.  Their numbers don’t con... 02/23/2024

Our Global Committee had an excellent networking and celebration on February 12, 2024, for the Lunar New Year, Year of the Dragon event @LOL Barbecue 66 Middle Neck Rd Great Neck NY  11021 (516) 708-1682.  This was the first time that I had ever eaten Korean Cuisine and was curious as to the different tastes and delicacies that they would offer.   It was set up to be a smorgasbord self-serve-styled venue.  What I discovered was so very tasty and well-presented cuisine.  The barbecue ribs, which I found out is what Korean food is known for as a specialty, were supreme.  The meat just rolled off the bone, just like excellent barbecue ribs.  There was the spicy and delicious string beans with some amazing sauce, that I couldn't get enough of.  They also had a popcorn-type chicken dish that... 02/19/2024

Part 2This is the second part of the column on my 2015 search as a Nassau County Realtor for a summer rental for a mystery client who wanted what at first appeared to be the impossible — a tub in the master bathroom.We kept looking high and low for that special place to call home for our well-heeled client and nothing was going to stop me.  In the meantime, our MLS auto-prospect search would identify any new listings regularly that would meet the criteria and would immediately send them out to the associate.In addition, my assistant Gloria literally made a multitude of calls to other offices, brokers, associate brokers, and agents over three weeks to see if they had any pocket listings that they would consider sharing that were not listed on the MLS system.  We kept striking out every d... 02/17/2024

Part IOn June 3, 2015, I received a call from a gentleman who was inquiring about assisting him in tracking down a rental for August for his client. His client was coming to New York for a project he was involved with, but he was clandestine and very secretive about the project. I thought maybe this was something illegal or possibly something dealing with the stock market or a financial project.Maybe it was like one of these Nigerian scams, where they have $20 million that they want you to deposit and I would get paid a percentage.  But then again, this person’s client was going to be living somewhere on Long Island, so I figured this wasn’t one of those scams, but I needed more of an explanation to understand the specifics.He continued to describe what his client needed.  A home, prefe... 02/09/2024

14Shares  Share  Tweet  Pin  Email  Share Guess when and how many interest rate reductions will Fed Chair Jerome Powell do in 2024. Whoever answers correctly will receive dinner with me and my wife on Long Island or NYC (assuming she wants to go, lol) and a special surprise bonus! If there are multiple individuals with the correct answers, then there will be a run-off. The final drawing will be held in the last week of December 2024. Send your answers to Phil@TurnKeyRealEstate.Com                                    Have you jumped back on the fence with interest rates contributing to and creating an unaffordable environment?  You are not alone in this unfortunate circumstance where so many consumers have been stuck. More important is the lack of choices in our historic low inventory di... 02/02/2024

You did your search and traveled to a multitude of homes to find your “next place to call home.” Finally, after almost 6 months and 500+ miles, you settled on your first home, a 3 bedroom and 1 ½ bath place.  You went through and performed all of your negotiations, through the haggling, stressful, and tense moments; treading lightly on eggshells, and doing whatever was necessary and required that you had to do (of course legally, lol) to have an agreed and accepted price.  However, you’re somewhat happy but not ecstatic with your broker, as they weren’t really at the “top of their game” when it came to all the details and minutiae.  Then you ordered your inspection and had it completed. In the meantime, you still haven’t hired an attorney and are asking your broker or salesperson for su... 01/29/2024

GREAT NECK LONG ISLAND HOME SOLD!Lawrence & Sheila Agranoff REALTORS®, SOLD this Great Neck Long Island Vintage Colonial home in Nassau County New York,  and we can SELL yours too!We Listed It! We Showed It! We SOLD It! Lawrence & Sheila Agranoff Cell: 631-805-4400WE SELL LONG ISLAND REAL ESTATE ~ Let's Connect To Sell Yours Too! 01/29/2024

If you are a seller, investor, purchaser, or even potential tenant, are you being properly advised and educated sufficiently enough, or seeking out someone to consult you about the current challenging market? Do you know enough about how to strategize and position yourself as a seller? If an investor, are you doing your due diligence when looking and finding a quality property and knowing the short and long-term R.O.I.? As a purchaser who has dropped out for a multitude of reasons, have you thought outside the box and your need and desire for creative and cutting-edge ways to keep you in the market? Even if you are looking for a rental, are you open to learning how you might potentially be in a position to purchase by listening and learning various strategies and methods of ways that y... 01/18/2024

    Home Business All Things Real Estate: Protecting your home while there or away is... Business All Things Real Estate: Protecting your home while there or away is critical By Philip A Raices- January 7, 2024 0   As I am writing this past week’s column our first snow of the winter is happening, hooray! Now that our weather is getting a bit colder as winter should be, I think back to 15-20 years ago when I was showing clients some homes on the North Shore of Long Island. It had been extremely frigid during that week. We approached the home and opened the screen door and with my very acute hearing, I heard something that I always feared and dreaded during the winter season, the unfortunate gushing sound of water inside someone’s home. As I opened the door it was the shock of seeing it ... 01/11/2024

     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.When was The Beatles first album recorded? Reply to this email Ask the Agent What Is a Comparative Market Analysis (CMA)? A real estate agent prepares a comparative market analysis (CMA) report for a buyer or seller, to determine the estimated value of a home. The report evaluates three or more sold properties that most closely proximate the characteristics of the home that is being valued Homes that have sold within the past six months will contribute to giving the bes... 01/03/2024

ht     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 Boosting Creativity January is International Creativity Month, which means we’re looking at all the ways boosting your creativity works wonders for work and play. H... 01/03/2024

Many of our clients are having challenging times finding a home that fits their specific “needs and wants.”The lack of available inventory is the greatest problem for those who are seriously searching and are qualified to buy.  For those who either need to sell or want to sell, the fear of not finding their “next place to call home” is one of the main reasons for not listing.I have experienced this exact situation as a broker with one particular family that although their place is listed, will not close until they find their next domicile beforehand.This has caused buyers not to consider their place.  Of course, current interest rates are an additional and important factor for many others not being able to purchase; even though rates are down over 1% since October.However, prices are st... 01/02/2024

It was challenging, impossible, and difficult for buyers and renters.  Mortgage rates being as high as they were with 11 increases over 18 months have caused a lot of pain and disruptions to so many looking for their first place to call home.Its severity affected a good portion of purchasers who had less than stellar opportunities whether it was from battling a bidding war environment not seen before; as well as a lack of choices from a historically diminished low inventory.Due to these bidding war situations, prices kept escalating in this artificially created atmosphere with fear of missing out rearing its ugly head for those who became way too emotional in the buying process; as if it was the end of the world if they didn’t get something.Due to this untenable situation, this inevitab... 12/29/2023

Right now for some everything looks rosy.  Home prices, although not increasing at the same excessive pace, are still going up on Long Island.  But in other locations around the U.S., prices have moderated, especially where much of the new construction has occurred.But for a majority of others, things may look downright challenging and dismal with our national debt at $32 trillion, credit card debt increasing to a stifling level month after month, and student debt of $1.77 trillion owed by 45.3 million borrowers, down from 45.4 million students in the second quarter of 2021.  But 0.63% of student loans were 90 days or more delinquent as of the second quarter of 2023, down from 4.55% in the second quarter of 2022.President Biden tried his best to assist in a small way by allowing $10,000... 12/09/2023

I have been sitting back, and not doing a huge amount of business lately.  However,  I have been enjoying my kids and grandchildren.  Having a 9 1/2, 7 1/2, 2 1/2, and finally a grandson via my daughter-in-law and my son in March 2024, our name will continue for hopefully another 80+ years into the future. I have been focusing more on building my "memories" bank account as opposed to my financial bank account.  Many of us are in the fall and late fall of our lives and as we all know, none of us are getting out alive!  So outside of money and possessions, which we will not be taking with us, what else is there?  Happy times, memories and even "not so good" times to be remembered and hopefully with our good soul, that we will take with us when all is said and done! Over a lifetime, there ... 12/01/2023

I have been practicing and performing real estate for over 42 years. My first purchase was in 1977, a small home of about 1200 sq. ft that we resided in on North Road in the north section of Great Neck.The second property we purchased was a 2-family on Steamboat Road in 1981.Although we sold both properties and moved on to other investments, I can still remember how easy and simple it was back then, to be able to apply for a mortgage. Both were with Emigrant Savings and Loan, which is no longer in business.Our second loan was completed mostly by phone (by house phone that is).This is in stark comparison to “jumping through hoops” today with the massive amount of paperwork.  I imagine one day the lenders just might ask what brand of toilet paper that we use, LOL.  I guess they are just d... 12/01/2023

I may be 2 days early, but I want to wish all our Active Rain members and their families and friends a wonderfully Healthy, Happy, and enjoyable Thanksgiving.We don't know what we have to be thankful for until one sees and realizes what chaos is occuring here and around the globe, The Ukraine, Israel and other areas and the unfortunate collateral death and destruction that is happening.Hopefully, one day the human race as a whole will wake up and smell the coffee and learn how to communicate peacefully, respect each other and stop the killing and try to "Live and Let Live." 11/21/2023