Great Neck (Great Neck, NY)
By Philip A. Raices, 1 of the Most Knowledgeable Brokers on the Net!
(Turn Key Real Estate)
 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...
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By Philip A. Raices, 1 of the Most Knowledgeable Brokers on the Net!
(Turn Key Real Estate)
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...
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By Philip A. Raices, 1 of the Most Knowledgeable Brokers on the Net!
(Turn Key Real Estate)
    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 ...
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By Philip A. Raices, 1 of the Most Knowledgeable Brokers on the Net!
(Turn Key Real Estate)
     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...
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By Philip A. Raices, 1 of the Most Knowledgeable Brokers on the Net!
(Turn Key Real Estate)
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...
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By Philip A. Raices, 1 of the Most Knowledgeable Brokers on the Net!
(Turn Key Real Estate)
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 ...
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By Philip A. Raices, 1 of the Most Knowledgeable Brokers on the Net!
(Turn Key Real Estate)
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...
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