A precursor tape casting method is one in which chemical precursors are converted into a final chemical phase from green tapes to products. Because chemical precursors are employed rather than the final powder materials, sintering is not required to form the material. Lower annealing temperatures instead of high temperature sintering allow the formation of grains of about 1 to about 100 nanometers in the final material. In addition, when the final material is a magnetic/insulator composite, improved magnetic properties may be obtained.