Philip A. Raices, Broker for Turn Key Real Estate discusses trends in real estate in Great Neck, New York

The real estate market has seen challenges. The industry demands more from agents and companies navigating the industry. Phil Raices of Turnkey Real Estate stresses the importance of people understanding the market as a local one. The market will differ and go through different trends from state to state, city to city and town to town.

This demands that agents and realtors take analyse both micro and macro trends. Without an understanding of macro trends, one won’t know what the future holds and without micro trends it will be hard to give clients and potential homeowners what they really want.

Real estate has always been a local market; the rest of the country should be viewed as trends. For Raices and his team it is necessary, for Real Estate requires people to look at the market and analyse it extensively on a monthly basis to make it possible to build a strong understanding of the demands of the job and the industry.


With his experience and expertise Phil points out the trends and challenges in today’s American market. He notes that there aren’t enough houses for the demand of homes at the moment. So while they are plenty of people who are in the market for homes, the inventory is remaining low.

Banks have not been foreclosing on houses that haven’t had mortgages paid in over two years, so houses that could be put on the market are still in the hands of owners that are not paying. If banks foreclosed on these homes at once, this might cause depression. Banks have also contributed to a shift in the home investment market.

At the moment, the market is flooded with keen investors that are interested in buying, renovating and reselling, but banks have taken this on themselves by dealing with the renovation and reselling themselves. While this shuts out investors it also leaves room for good brokers. Phil Raices also predicts that the bad part of the real estate slump is not over yet. There will come a time where all the houses that haven’t been foreclosed on by banks will be repossessed by banks.

At the same time, Turnkey Real Estate is positive about where the market is going. It has seen growth since the market recovery; it’s up between 2% and 4% and the growth will continue to see steady growth.

Challenges in Real Estate Job Industry

According to Raices the challenge over the next few years is getting more experienced agents and agencies who truly understand the work, the market and its demands. Real estate needs people who don’t just know about the housing market but also have technological knowledge and an understanding of the industry as a whole. At the moment, there are still too many agents who don’t have enough knowledge which wastes people’s time and money.

To combat this, mandatory training has to improve to build better agents that in turn will build a stronger market that is better prepared for any challenges.

Turnkey Real Estate works in the Great Necks area in Long Island, a suburb within a peninsula that offers a wide range of activities for people of different ages. Great Necks boast an incredible 21 parks which all offer different features. Every town and suburb needs a park, a great place where people of all ages can enjoy the great outdoors.

Whether it’s playground areas for kids or walkways and sports fields for grownups and even water bodies and water features to create the perfect atmosphere for people to relax and be close to nature. Parks are a necessity and they are a very important part of a district identity and a huge responsibility for local governments to maintain them and preserve their beauty.

The area is upbeat and packed with fun activities; summer concerts are held from Memorial Day to Labor Day where incredible live bands perform. Access to these concerts is free to anyone who lives in the surrounding districts. Within their parks people can also enjoy Tuesday night concerts at Ialpi Park, Parkwood Pool boasts an Olympic sized Pool while Indoor Ice Skating rink, rock climbing walls can be found within the parks. One park is 175 acres with forest, rivers and walkways. The world famous Jones Beach is 25 minutes away from Great Necks.

Residents love this area because there’s always something to do there. Great Necks is also an attractive housing market because Manhattan is just a 22 minute metro journey with an incredibly scenic ride.

The Great Necks community also boasts a global diversity with 15 languages spoken across the whole town and at any stage in life people can be sure to find a great place to live whether it’s condos, family homes, single apartments and apartment blocks. Sporting fans are also catered for with baseball, soccer fields and basketball and tennis courts and families and large groups of people can make use of the barbeque areas.

The Great Necks real estate market is made up of a combination of different types of buildings, 103 in total, and they include co-ops, condos and townhouses. Great Necks offers people the chance to rent homes so that they can see if they like the area and then in about four years they can purchase their own homes. In this area, 65 % of the house are available as rentals with 35% of the people purchasing a home.

It allows different people to buy into or rent into the lifestyle that area is well known for. You can find excellent schools in Great Necks which has 92% college entry with most children getting into to Ivy League institutions. Great Necks has been built up as a community that is attractive to people from all walks of life. It is a peaceful community where different people co-exist and enjoy the town together.

With many activities and natural features it is a place where residents are never bored or stuck on what activities to do. Turnkey Real Estate has built a strong understanding of the Great Necks market and Phil Raices cares about making sure people find their dream home here.

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