interestrates: Better to sell now or wait until the Spring? - 02/10/21 05:13 AM
We had our second snowstorm on Long Island in less than a week, but purchasers were still going out searching for their next place to call home. I have observed the most qualified and serious families and individuals venturing out with their masks, gloves and booties to view homes, condos, coops and even rentals. The buyers and tenants figure there would be less competition at this time of the year rather than waiting until the spring rush, when the weather is more conducive for those snow birds and snow flakes to re-enter the market.
Most important and understandable is that if you … (2 comments)

interestrates:  Interest rates hold key to market - 01/21/21 07:13 PM
  As we all know, interest rates are historically low, demand is exceptionally high (for those homes and properties that are priced correctly) and inventory is less than four months, the lowest on record. This has, for the most part, caused home prices in 2020 to increase between 9 percent and 13 percent, depending on the area even though inflation was less than 2 percent.
This is a casebook example of a supply-and-demand economic scenario that some of us learned in school. However, it is an impossible and untenable situation for the long haul. But how many really remember how it … (4 comments)

interestrates: Are you listening and caring about your clients concerns? - 07/30/20 08:09 AM

In our current working environment, it becomes imperative and critically important to pay attention to as many details as possible when catering to your sellers, investors, purchasers, and even renters!
In order for you to follow through within our new norm of doing business, listening, paying close attention, and truly understanding what everyone really needs and wants becomes a number one priority!
Asking probing questions, providing the necessary and required new COVID-19 forms to be completed are the initial steps, to begin with even before showing the property as required by the Department of State agents should be emailing or faxing those forms … (0 comments)

interestrates: Government shutdown’s impact on real estate and our economy - 01/23/19 02:21 PM
With 800,000 government employees having to show up at work without a paycheck or being furloughed; the impact on real estate has begun with mortgages becoming unavailable through the Federal Housing Authority or the United States Dept of Agriculture, which are not endorsing new loans for multifamily properties and landlords of public housing, according to Mark Zandi of Moody Analytics.
The short and longer-term effects on federal workers who begin to miss loan payments and the lack of money to purchase daily needs are and will have greater financial and psychological effects that may grow as the shut down continues going forward … (1 comments)

interestrates: Will the interest rate hike further effect the real estate market? - 12/24/18 12:28 PM
Jerome Powell, our Fed chair raised the Fed rate a ¼ of a point to 2.50 on Wednesday, Dec. 19, which will have been the fourth increase in 2018.
This is the overnight short term rate that banks charge each other for borrowing money amongst themselves. However, it just may have an effect on long term rates, as well as other rates on lending instruments. However, due to the still historic low housing inventory in most major markets, and still strong buyer demand for homes, condos and co-ops the market will continue to be very active, only if you price your property … (1 comments)

interestrates: Business & Real Estate: Has the increase in inventory, prices and interest rates had an effect on sales? - 09/26/18 09:53 AM
As of this column, the answer is yes on the higher priced homes and no on the mid- to lower-priced homes.
However, after reading several information sources, watching the interest rates and price increases in 2018, this has made affordability more and more daunting for about one third of millennial and other renters, who are having challenges coming up with the down payment (as well as the monthly costs) in many markets, as per Frank Martell, president and CEO of CoreLogic, a leading global property information, analytics and data-enabled solutions provider.
As of June, in the top 100 markets, 24 percent were undervalued, … (2 comments)

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

Philip A. Raices

1 of the Most Knowledgeable Brokers on the Net!

Great Neck, NY

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