selling buying purchasing: Homeowners must be more realistic about listing price - 07/26/22 07:13 AM
All Things Real Estate:  By Philip A Raices - July 25, 2022 0 After all these years in the real estate business, I have come to many conclusions, one being that “buyers are sometimes liars, sellers are sometimes yellers and lawyers are also sometimes destroyers.”
Buyers, sellers and lawyers, please don’t be offended by this real estate slogan (I heard it more than 35 years ago and had my doubts about its truth) as it isn’t meant to insult anyone. It is to bring up a very valid and pertinent point in this column, that people change their minds and say one thing and … (3 comments)

selling buying purchasing: A look inside my rentals, purchases and gambles - 07/23/22 08:31 AM
We were living in Little Neck, NY from 1975 (when we got married) through 1977.  Our first rental was a two-bedroom, one bath on the first floor for $225. After one year we moved up to the second floor to a three-bedroom and one bath with a terrace and a garage that we paid $275 per month for. We were ecstatic to gain such excellent space and a terrace, too.
Our utilities were all-electric (heat and hot water), however, and were in addition to our monthly rent. Our Con Edison electric bill back then was around $125 per month. Those same rentals … (1 comments)

selling buying purchasing: FREDDIE MAC AND FANNIE Mae and FHA crucial to lending - 06/22/22 07:25 PM
Interest rates have doubled over the last eight months, closing the door on our lowest interest rates in history and hitting bottom during the Covid-19 pandemic between 2020-2021. It was meant to be a temporary stopgap measure to salvage our ailing economy that was literally shut down due to the pandemic. However, rates actually dropped much lower than I and many economists anticipated and at their lowest point averaged 2.65%. If you had applied for a $200,000 mortgage, the monthly cost would have been $806, which would have been $662, or $7,900 savings per year, compared to the overall normal long-term … (0 comments)

selling buying purchasing: Fixed or A.R.M. vs. Rent? - 06/14/22 06:01 AM
Now that our interest rates have pretty much doubled in the last 8 months, inflation hasn't yet been controlled, supply shortages with infant formula and other necessities, the question is how should I finance my housing purchase?  Well, if you look at the current rates, you will find the 7/1 year A.R.M. (adjustable rate mortgage) is lower than the 15 or 30 year fixed and just maybe more beneficial in lowering your monthly cost.  Also, generally the penalties in breaking a fixed (could be upwards of $10,000 during the first 3 years) vs. a variable can be considerably less as it … (0 comments)

selling buying purchasing: ARE YOU READY TO MAKE THE MOVE UP? - 12/25/18 07:42 AM
 
Rising home prices have been in the news a lot lately and much of the focus has been on whether home prices are accelerating too quickly, as well as how sustainable the growth in prices really is. One of the often-overlooked benefits of rising prices, however, is the impact that they have on a homeowner’s equity position.
Home equity is defined as the difference between the home’s fair market value and the outstanding balance of all liens (loans) on the property. While homeowners pay down their mortgages, the amount of equity they have in their homes climbs each time the value … (0 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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Turn Key Real Estate

Address: 3 Grace Ave Suite suite 180, Great Neck, New York, 11021-2415

Office: (516) 829-2205

Mobile: (516) 647-4289

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A source of a multitude of Articles on Real Estate that helps sellers, buyers, investors and renters, leasing of Residential and Commercial Properties in Great Neck and the surrounding areas of Manhasset, Port Washington, Glen Head, Sea Cliff, Glen Cove, Brookville, Upper Brookville, Old Westbury, Roslyn, Albertson, Carke Place, Garden City, Mineola, Searingtown, New Hyde Park, Manhasset Hills, Little Neck, Douglaston, Bayside, Fresh Meadows, Whitestone, Jamaica Estates, Bellerose, Hollis, Hollis Hills, Jamaica Estates, St. Albans, Laurelton, Kew Gardens, Kew Garden Hills, Forest Hills, Flushing, Nassau County, Queens County and New York City. Ask about our Free/No Obligation Relocation Services; we will relocate you for free anywhere on the Globe!!!


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