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Why Fixer-Uppers and Did you know that Trees Talk with each other?

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Real Estate Broker/Owner with Turn Key Real Estate 31RA0874656

 

Phil's Home News
 
Philip A. Raices
Turn Key Real Estate
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Phil@TurnKeyRealEstate.Com
NYS License # 31RA0874656 NYS Corporate License # 109909392
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What is a Breach of Covenant?

A covenant is a binding contractual agreement between two parties to do or not to do a specified act. Covenants are usually enforceable by the courts if they are reasonable, clear, definite and lawful.

A breach of covenant is the failure to obey a previously agreed-upon legal arrangement that was created honestly and in good faith. When one party to a contract refuses to uphold their obligation as spelled out in that covenant, that party is in breach.

In real estate, a breach of covenant most often occurs when a buyer or seller backs out of a contract to buy or sell a home. A breach can also occur when either individual fails to perform any of the terms of a purchase contract. Breaching a contract should be taken seriously. The party who has suffered from the breach usually has recourse in a court of law, where the legal remedy could result in monetary damages being awarded.

Is a Fixer-Upper House the Right Purchase for You?

Buying a fixer-upper - a home in need of significant renovation - can be an exciting opportunity, but is it the right choice for you? While these homes often come with a lower price tag, they also require significant time, effort and financial investment to bring them up to standard.

One of the biggest advantages of purchasing a fixer-upper is the potential for customization. Instead of settling for a home that meets only some of your needs, you have the opportunity to renovate it into exactly what you envision. From choosing finishes to reconfiguring layouts, a fixer-upper allows you creative control over the space.

However, it’s important to consider the challenges as well. Renovations can quickly become more expensive than expected, especially if structural issues or hidden problems arise. It’s important to assess the scope of work needed and get professional opinions before committing. Inspections are crucial to avoid costly surprises that might derail your budget.

Another factor to weigh up is time and effort. Renovations take patience, and depending on the extent of work required, they can impact your daily life. If you’re planning to live in the home during renovations, be prepared for disruptions.

Despite the challenges, a well-planned fixer-upper can be a smart investment, increasing the home's value over time. If you’re willing to put in the work, it can be a great way to enter the housing market or build equity, so call or email me today and we can discuss whether this is right for you.

Did You Know that Trees Talk to Each Other?

A fascinating story in honor of Earth Day is the growing research into how trees are much more social beings than we ever realized. There are widening studies by forestry ecologists into the way trees communicate using networks of fungus in the ground, relaying messages to each other warning of predators, sharing nutrients with their "sick" neighbors and even forging "alliances" with different tree species.

Likened to the neural pathways in the brain or the lines of communication that form the internet, the underground fungal networks have been described variously as the "wood wide web," the "mushroom internet" or the "mycorrhizal network." Vast swathes of mycorrhizal fungus connect different trees in the forest. Trees are then able to send nutrients through these pathways to be picked up by connected trees as well as chemicals that act as "distress signals," causing their neighbors to release substances that can defend against disease or attack from predators.

Ecologist Suzanne Simard is one of the researchers delving further into these studies. During one of her studies, she witnessed a Douglas fir tree that, having been colonized by insects, sent chemicals acting as a warning to a nearby ponderosa pine tree. This caused the pine to create enzymes that would protect it against insects. In other studies, she has seen older trees sending carbon, nutrients and water to young seedlings, the same way a mother would nurture her child.

What better reason to make sure we're all doing our bit to save the trees!

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Wondering What’s Happening in Your Neighborhood?
How has the price of your home changed in today's market? How much are other homes in your neighborhood selling for?

These are all critical questions that shouldn't be overlooked when thinking about buying or selling your home. Whether you're curious about prices in your area, whether it's an excellent time to sell, or just need an expert to answer your questions, I can give you the tools and offer guidance through the entire buying or selling process.

Let me know how I can help by simply giving my office a call at 516-829-2205 to set up a time to connect.
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Egg Muffin Cups
These super easy and high protein egg muffins, also known as egg bites, are the perfect breakfast to make weekday mornings a breeze.
Serves 6
 
Ingredients

5 eggs
Salt and pepper to taste
Mix and match fillings
1 head broccoli, cut into small florets
Chopped spinach
Finely diced onion
Finely diced bell pepper
Diced tomato
Cheddar cheese
Parmesan cheese

Preheat oven to 350°F. Grease muffin tin.

In a measuring cup, beat eggs until smooth. Set aside.

In a muffin tin, arrange the desired combination of fillings into each muffin cup. Season each with salt and pepper.

Pour eggs into each muffin cup until liquid almost reaches the top.

Bake for about 20 minutes until set.

Can I Get My Home LEED-Certified?

With Earth Day here, there’s no better time to think about making your home more sustainable. One of the most recognized ways to ensure your home meets high environmental standards is through LEED certification, a globally recognized symbol of green building excellence.

LEED, which stands for “Leadership in Energy and Environmental Design,” is a certification system originally developed by the U.S. Green Building Council but now used worldwide to promote energy-efficient, eco-friendly construction. Homes that meet LEED standards prioritize energy and water efficiency, improved indoor air quality and sustainable building materials, all while reducing carbon emissions. This creates a healthier, more comfortable living environment while also lowering a home’s overall environmental impact.

If you’re wondering whether your home can be LEED certified, it’s important to know that certification is awarded based on a points system, with buildings allocated as either “certified,” “silver certified,” “gold certified” or “platinum certified.” Points are earned by incorporating sustainable features such as proper insulation, high-efficiency appliances, nontoxic materials and water-saving fixtures. So whether you’re building from the ground up or making eco-conscious renovations, following LEED guidelines to ensure that your home is environmentally responsible and energy efficient can bring you closer to achieving an official certification.

Beyond being a smart choice for the planet, a LEED-certified home offers long-term financial benefits. The lower energy and water consumption of a certified home leads to reduced utility bills, and homes with LEED certification also tend to have higher resale value. As buyers become increasingly eco-conscious, these kinds of sustainable living spaces are more in demand than ever.

So this Earth Day, consider getting certified. Not only will you be making your home greener for the environment, but you’ll also be investing in your health, comfort and financial future for years to come.

If you'd like more ideas for green home renovations, call or email me. I'm always here for referrals and recommendations for eco-friendly suppliers and service providers for your needs.

Here Are 5 Ways to Volunteer Virtually

With the news full of things that fill us with worry, many of us are often looking for ways we can make a difference in the world around us. Thankfully, the beauty of the internet means that you can still volunteer your time to help others from the comfort of your own home. Here are five ideas for virtual volunteering.

Crisis Text Line. Volunteers for the Crisis Text Line offer 24/7 support via text messaging to people suffering through crises. Volunteers commit a few hours a week and receive a full course of training and support.

Translators without Borders. If you're able to speak a second language, this is a perfect way to offer your services to those in need. Translators without Borders provides translations for international humanitarian efforts in fields such as education, crises and healthcare.

United Nations Volunteers. The UN's volunteering network is a place where you can join a worldwide community as a volunteer. UNV connects volunteers with organizations across the globe working on projects focusing on peace efforts and international development, whatever your skills are.

Amnesty Decoders. Amnesty Decoders is a digital volunteering network operated by Amnesty International researching global human rights violations online. Volunteers conduct tasks including finding evidence of drone strikes from satellite images and flagging social media content inciting violence against women.

Catchafire. Essentially a search engine for volunteers, Catchafire helps you search for nonprofit projects you can volunteer online with. Tasks range from writing thank-you notes to graphic design and photo editing.

For more ideas, you can visit Points of Light to search for a virtual volunteering opportunity now. Head to https://tinyurl.com/link0425.

This newsletter and any information contained herein are intended for general informational purposes only and should not be construed as legal, financial or medical advice. The publisher takes great efforts to ensure the accuracy of information contained in this newsletter. However, we will not be responsible at any time for any errors or omissions or any damages, howsoever caused, that result from its use. Seek competent professional advice and/or legal counsel with respect to any matter discussed or published in this newsletter. This newsletter is not intended to solicit properties currently for sale.
                                                                 
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Sincerely,

Philip A. Raices, Pres/CEO, 

(What I consider a Masters Degree in Real Estate)
 
"Sell around the Globe"
 
 
The National Association of Realtors "Green" designation
(Certified in Eco-Friendly Low Carbon Footprint Construction/3-D Printed Foundations/Geo-Thermal HVAC/Solar Panels/Heat Pumps)

Turn Key Real Estate
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Comments(4)

Show All Comments Sort:
Adam Feinberg
Elegran - Manhattan, NY
NYC Condo, Co-op, and Townhouse Advisor

Fixer Uppers in Manhattan are a whole different conversation. Most of the buyers out there right now don't even want to even discuss fixer uppers- unless it's something like paint, appliances and countertops. Depending on the building - a buyer might need to get condo or co-op board approval before renovating and it could be a big deal- and a very long process. The Upper East Side is notorious for having buildings with Summer Rules - meaning that renovations could only be done during the summer months when most residents left town for the Hamptons or other summer locations. As co-op's have been falling out of favor these days- we are seeing more buildings ditch Summer Rules policies. Most buyers today are willing to pay a premium for a move in ready space. A full kitchen renovation now starts at $125k in Manhattan and the sky is the limit from there. Bathrooms start at $75k...and can easily skyrocket from there. Those are just the costs- and don't even reflect the headaches involved with getting renovations approved. 

Apr 01, 2025 03:35 PM
Philip A. Raices

Hey Adam, Good Morning,

The info that you have provided is excellent.  However, my April Newsletter was meant to address single/multi-home renovations more than city Condos and/or co-ops.  BTW, I happen to have a superb listing at 510 E. 80 St, combined unit 4F/4G, and I just adjusted the price down to $1,825,989

If you happen to come across any of your clients that might be interested, let me know ML#822452 ON MATRIX (516) 647-4289

Apr 02, 2025 08:09 AM
Doug Dawes
Keller Williams Evolution - 447 Boston Street, Suite #5, Topsfield, MA - Topsfield, MA
Your Personal Realtor®

Hello Philip A. Raices 

Lots of interesting information presented in a precise manner.

Regarding trees, I believe that all life has the ability to communicate with each other. I had read where plants send off a charge that bees can pickup, I'll have to look it up.   

Apr 01, 2025 04:12 PM
Philip A. Raices

Hey Doug,

Appreciate your thoughts.  For sure, trees and plants communicate with each other.  Some days, I believe they talk about when the day comes that all humans are gone, and what a more, cleaner, friendlier, pleasant, and stress-free world will finally exist.

Apr 02, 2025 08:13 AM
Sham Reddy CRS
Howard Hanna RE Services, Dayton, OH - Dayton, OH
CRS

Thanks Philip for sharing great thoughts on advantages of buying fixer uppers!!!

One of the biggest advantages of purchasing a fixer-upper is the potential for customization. Instead of settling for a home that meets only some of your needs, you have the opportunity to renovate it into exactly what you envision. From choosing finishes to reconfiguring layouts, a fixer-upper allows you creative control over the space.

Apr 02, 2025 03:43 AM
Philip A. Raices

Hey Sham,  Appreciate your compliment!

Your point is well taken. It is perplexing why so many pass on those types of properties. They don't realize that if purchased the correct way, they could build in immediate value and appreciation and have it their way, focusing on their specific "needs and wants" in a renovation.

Apr 02, 2025 08:16 AM
Adam Feinberg
Elegran - Manhattan, NY
NYC Condo, Co-op, and Townhouse Advisor

Hi Philip A. Raices,

The majority of my business is on the West side from the 90's north to the 160's - so I am not likely to be able to help you with a buyer though I do work all of Manhattan on request. That said, I figured it's still worth taking a look at the listing online...and discovered your listing is invisible to about 90% of the Manhattan market. I had to go to Zillow to find the apartment for sale- and then realized the issue. Manhattan doesn't have an MLS- and only agents that also work outside of the city might have access to an MLS. I can't speak to the quality of OneKey, but the only agents I know that use it also work outside of the city- which is a smaller % of us (some agents in town only work in a few buildings). In order to capture the majority of agents and buyers you have to be a member of REBNY (or partner with someone that is) - and get on the RLS (Many brokerages have the RLS via their own internally created system, though my firm uses OLR- which is fed by the RLS). Also you have to list on Streeteasy which requires manually entering the listing- it doesn't syndicate. Between the RLS and Streeteasy- that's about 90% of the buyers agents and buyers. Suburban MLS' and all the other potential sources represent about 10% of all inquires in most instances.  I hope I am not stepping on your toes here- but also note- that listings here require professional photography (well studios can sometimes get by with non-professional pictures). Beyond my scope of quick review- but this always comes up with combo units- was the combination legally combined with the city and were permits closed? This tends to kill a lot of deals. 

My sense is this type of listing requires a broker that focuses much of their business on this micro section of the Upper East Side. Our managing director coined the phrase that right now the Manhattan market is Punishingly Efficient as some properties have bidding wars while many others can sit for a year or more. If you are listing anything in Manhattan- you also should subscribe to the highest level service offered by UrbanDigs- as it's built to give your seller's confidence is your abilities to sell the apartment- with the data to support it. I think they offer free trainings on Monday's and Tuesday mornings at 11am on their service- even if they don't offer it free- I am sure you can ask to attend to help you make up your mind on subscribing.

Apr 02, 2025 11:46 AM
Philip A. Raices

Hey Adam, I do appreciate your constructive criticism and of course you are not stepping on my toes, but providing valuable and pertinent information.  I will add it to Street Easy and consider checking out UrbanDigs.com as I assume that is the web address

 

Apr 03, 2025 01:16 PM