School districts a major factor in home sales

BY PHILIP A. RAICES

We all want the best location, amenities, shopping, restaurants, cultural events and the convenience of local transportation. However, when a consumer buys a home, are schools also another variable that they consider as one of the most important factors in their decision-making?

It all depends on whether they have children, are going to have children or maybe not. Even for those who may not plan to have children or who no longer have children living at home like me, the best place to continue to increase your wealth when purchasing and keeping stability in values is in those school districts that are ranked the highest.

I have spent a multitude of years contemplating and pondering the reasons why people and families purchase homes, townhomes, condos, and coops. The main reason is to create a stepping stone to gain potential future wealth through ownership. According to the National Association of Realtors in a Jan. 7, 2022, article, “Homeownership is the largest source of wealth among families, with the median value of a primary residence worth about 10 times the median value of financial assets held by families. Housing wealth (home equity or net worth) gains are built up through price appreciation and by paying off one’s mortgage.”

At the national level, a homeowner who purchased a single-family existing home 10 years ago would have gained $225,000 in home equity if the home were sold at the median sales price of $363,100 in the third quarter of 2021. The gains of $193,600, or 86% of the increase, had come from price appreciation and principal payments of $31,300.

Over that 10-year period, home prices have increased 7.9% annually, a stronger appreciation compared to the 4.2% annual price pace in the past 30 years. Our Long Island areas have seen even greater increases than the national average, due to those areas that have above-average schools.

Obviously, not everyone thinks about schools as the No. 1 reason to purchase a home. However, if you were to research and study where prices have appreciated the most (pre-pandemic and especially post-pandemic) the vast majority of families with children or those going to have them saw schools as the No. 1 factor in choosing a place to live.

In my professional opinion, I firmly believe this is the No. 1 reason for the greatest price appreciation over the long run. Education is generally the road to earning greater incomes and financial security for many who strived for greater opportunities and the path out of poverty. However, today it has become a more difficult challenge to seek out better schools due to the greatest increases in prices going back to

1967, according to the U.S. Bureau of Labor Statistics.

Comparing prices in 1967 with 2023, they have gone up 925.65% (a $925,650.30 difference in value). The cost of a $100,000 home in 1967 would be $1,025,650.30 in 2023 (56 years) for an equivalent purchase.

How can the vast majority of families who seek out an excellent education in a better school district afford to purchase if the prices are beyond their incomes? I believe this is one of the reasons why New York State has lost a portion of its population in the last 10 years to other lower-priced and taxed states. I do believe the answer is much greater government and public spending to prop up those schools that may need assistance in hiring more qualified administrators and higher salaries for teachers.

They could develop more comprehensive and stronger programs to elevate the grade point averages in math, science, and English. However, crime and parenting are other factors that will determine whether there will be a positive or negative effect and determine the outcome on students’ grades and academic future. This, in turn, will always have a tremendous effect and directly culminate in the value of housing prices in a town.

There is a direct correlation between housing prices and schools. The better the school district, the higher the prices. Even with a downturn in the economy, there are towns, like Great Neck, Port Washington, New Hyde Park, Herricks-Searingtown, Glen Head, Sea Cliff, Syosset, Jericho, Plainview, Bethpage, Ward Melville, Half Hollow Hills, Commack, and Dix Hills where prices may vary between school districts, but don’t generally decrease as they do in less than stellar school districts.

According to the National Bureau of Economic Research, each dollar spent towards schooling in a neighborhood results in a $20 appreciation in home values.

Philip A. Raices is the owner/Broker of Turn Key Real Estate at 3 Grace Ave Suite 180 in Great Neck. He has 40 years of experience in the Real Estate industry and has earned designations as a Graduate of the Realtor Institute (G.R.I.) and also as a Certified International Property Specialist (C.I.P.S) as well as the new “Green Industry” Certification for eco-friendly construction and upgrades. For a “FREE” 15-minute consultation, value analysis of your home, or to answer any of your questions or concerns he can be reached by cell: (516) 647-4289 or by email: Phil@ TurnKeyRealEstate.Com or via https:// WWW.Li-RealEstate.Com Just email or snail mail (regular mail) him with your ideas or suggestions on future columns with your name, email, and cell number and he will call or email you back

How to Make Fruits and Vegetables Last Longer

Continued from page 2 the refrigerator, it leaves behind mold we can’t see. As a result, this mold attacks the new, fresh stuff you put in there. Disinfecting the inside surfaces of your refrigerator on a regular schedule will make everything last a little longer and smell a lot better.

Extend Berry Life

Soaking berries in a weak vinegar and water solution before you store them in the refrigerator will make them last for several days longer than simply putting them in the fridge. Add 1 part vinegar to 10 parts water. Swirl the berries around for just a few seconds. Rinse, and store. Strawberries can last up to two weeks longer using this method.

Foodsaver

A Foodsaver vacuum-sealing machine is a great option for extending the useful life of produce. Food can be vacuum-sealed in bags or stored in specific

Foodsaver canisters. However, my favorite method for storing everything from strawberries to tomatoes and everything between is in ordinary glass canning jars.

This requires a Jar Sealing Kit that attaches to the Foodsaver. Simply fill a glass canning jar (regular or widemouth) with unwashed produce like strawberries, blueberries, tomatoes, lettuce, etc. Set the lid on the jar, and apply the jar sealer. Start the machine and it removes all of the air from the jar and seals the jar tightly.

Stored in the refrigerator, the contents will remain fresh and beautiful for weeks.

Ugly Produce

There are now several companies, such as Imperfect Produce and Misfits Market, that offer a subscription delivery service for “ugly” food. They offer perfectly healthy and nutritious “ugly” produce for up to 50% less than retail store prices. Check this out if nutrition, not perfection, is your goal.

Grow Your Own

Now more than ever, it’s important that we think about growing our own food. There’s nothing like a worldwide pandemic, long lines at food stores and fear of food shortages to wake us up to the idea of becoming more self-reliant. You don’t need acreage to grow a garden. In fact, you don’t even need a yard or plot of land (although that is surely a blessing if you do have that).

Start reading; start learning; start a garden!

Mary invites you to visit her at EverydayCheapskate.com, where this column is archived complete with links and resources for all recommended products and services. Mary invites questions and comments at https://www.everydaycheapskate.com/contact/, “Ask Mary.” This column will answer questions of general interest, but letters cannot be answered individually. Mary Hunt is the founder of

EverydayCheapskate.com, a frugal living blog, and the author of the book “DebtProof Living.”

COPYRIGHT 2023 CREATORS.COM

BY DENNIS MAMMANA

Week of July 2-8, 2023

While you’re out enjoying the pool this summer and soaking up some rays, try this fun experiment.

Ask some friends which season of the year they think the Earth is nearest to the sun. Unless your acquaintances are atypical, I’ll bet most will guess that we’re closer to the sun during our summertime.

Many people believe that our warm temperatures are somehow caused by our smaller distance from the sun, but this just isn’t true. It’s just the opposite: we’re closest to the sun in early January!

Like most celestial bodies, the Earth orbits its star not in a circle, but along an ellipse. An ellipse is simply a circle that’s been squashed and, because we orbit along an elliptical path, our distance from the sun varies slightly throughout the year. This was discovered some four centuries ago by the German mathematician Johannes Kepler.

After struggling for many years to calculate a circular orbit for the planet Mars, Kepler threw up his hands in frustration. All he had to show for his work was 900 pages of calculations and 70 worthless orbits.