New Richmond ListingBright open contemporary  4 bed, 3 bath with cathedral ceilings. Private wooded yard with inground pool, 2 decks for entertaining. Pellet stove to help with the heating bill. Call today! Features Bedrooms: 4 Bathrooms: 3 Parking: 2 car garage Year Built: 1987 Subdivision: Hillsdale Lot Size: 87120 Garage Size: 2 Square Footage: 1789 Agent Name: Alayna Berek Broker: Keller Williams MLS #: 849220 Information Contact Information Pricing Asking Price: $419,000 Flexibility: Negotiable Property Location Attributes Appliances Range/Oven Washer/Dryer Dishwasher Microwave Interior Amenities Hardwood Floors Kitchen Island Vaulted Ceilings Exterior Amenities Swimming Pool Hunter's Crossing Contemporary Cape 4-5 bedsHunter's Crossing-Contemporary Cape  You must see this home now! Bright open floor plan. 4-5 beds, 2 full baths. New granite counters, stainless appliances. A lot of home for the money. Move in condition. Deck with great yard for entertaining. Information Contact Information Pricing Asking Price: $338,500 Additional Pricing Information: Buy this home no money down:www.getdownpayment.com Features Bedrooms: 4 Bathrooms: 2 Parking: 4 Year Built: 1996 Subdivision: Hunter's Crossing Lot Size: 13068 Garage Size: 1 Square Footage: 1770 Agent Name: Alayna Berek Broker: Keller Williams Realty MLS #: 844465 Attributes Appliances Range/Oven Full Refrigerator Washer/Dryer Dishwasher Central Air Interior Amenities Kitchen Island Vaulted Ceilings Basement Photo Gallery    "No Money Down" - Is it really possible???
Many people see our ads, "buy this home with no money down". Then of course our required disclaimer, "qualified buyers". I am sure most don't call, they think it's the old bait and switch. There are actually programs where they still only require 3% down. There are also non-profit organizations that will help with the down payment up to about 10%. Some such programs are: Genesis, Nehemiah and Ameridream. So, how do these programs work? The seller must agree to participate in the program. The contract is then written for the purchase price plus whatever the down payment must be plus the closing costs(It cannot be more than asking price, but what home is selling over asking now anyway). The closing costs are reimbursed to the buyer at closing. At the closing, the program wires the down payment money to the closing. Out of the seller's funds comes that amount plus a few hundred dollars. The prepaid insurance can also be reimbursed at closing. Question is, can the $300-$500 inspection money(if the buyer has chosen to have one-not required but certainly recommended) be reimbursed as well? I have heard yes and no so I don't have a concrete answer on that. So, with all this said, why would anyone rent? When you own, you get the tax write offs. Rent is basically burning money. You also have something to sell at the end. I'm not saying buy more than you can afford, we all know we don't need that. But if someone can find a home that will cost around what their rental is, why not???
New listing-East Providence $170,000Make an offer-possibilities  This 3 bed, 2 bath cape offers many possiblities. Needs work. Hardwoods throughout, brick fireplace. Zoned commercial 1-possible office. Accepting offers Features Bedrooms: 3 Bathrooms: 2 Parking: 4 Year Built: 1941 Lot Size: 4970sf Garage Size: 1 car det Square Footage: 1260 Agent Name: Alayna Berek Broker: Keller Williams Realty Information Contact Information Pricing Asking Price: $170,000 Flexibility: Negotiable Attributes Appliances Dishwasher Interior Amenities Fireplace Hardwood Floors Exterior Amenities Fenced Yard Spacious condo for rent2 bed, 2 full bath condo MOVE RIGHT IN  Freshly painted 1 level condo. 2 beds, 2 full baths, fireplaced living room, washer/dryer in unit. Screened balcony off master & living room. Call today!! Features Bedrooms: 2 Bathrooms: 2 Located on Floor #: 2 Floors in Bldg: 4 Square Footage: 1168 Parking Spaces: 2 Pets Allowed: Cats Year Built: 1985 Agent: Alayna Berek Broker: Keller Williams Information Contact Information Pricing and Availability Rent: $1,100 per month Available Date: Thu Feb 14, 2008 Property Location Attributes Rental Unit Amenities Balcony Other Amenities Guest Parking Washer/Dryer Fireplace Deck Buying a mobile home in RISo, you want to buy a mobile home in Rhode Island? People often think this is the most affordable way to buy in RI. If you can pay cash, you often pay much less than you would renting. There are several issues to think about. First of all, there is financing.
Insurance is fairly easy to get on them, for some reason people think that would be the difficult part, it is not. Inspections are the same as with any other home, and the price for those is the same, too. The park restrictions are probably the most important consideration. Many parks do not allow motorcycles,
So is it more affordable than a typical single family purchase? Let's look at the numbers: Let's take a Coventry starter home with 2 beds: $144900 purchase price 3% down with a 30 year fixed at 5.68%, taxes of $2276/yr., fire tax of $188/yr., payment for taxes & mortgage would be $1019.32 a month. Now a 2 bed mobile home in a leased land park I am using numbers from a park that allows children: $62211 purchase price 10% down with a 20 year fixed at 9%, taxes of $529/yr., fire tax of $123/yr., park fee of $368/mo., payment for taxes, mortgage and park fee would be $926.09 a month. Not as much of a savings as most people think. Obviously, there a a vast number of scenarios out there, some may come out much differently. But I think it's always a good idea to do all the numbers to make and informed decision.
Raffles, auctions, desperate sellersI saw a clip on CNN.com about a family in Maryland who has decided to try to raffle off their house that they have been unable to sell in conjunction with San Mar Children's Home. Here is the clip if you would like to view: http://www.cnn.com/video/#/video/us/2008/02/02/bolduan.family.raffles.home.cnn They are selling the tickets for $100. and must sell 5,000 to have the raffle. If they fail to sell enough, they must return all the money, which sounds like a major headache to me. It makes me need aspirin just thinking about it!! In Rhode Island, all raffles must be approved by the Rhode Island State Police Charitable Gaming Unit. I assume it is probably similar in Maryland which is why they have teamed up with a charity. I once had an out of state seller who had a property he wanted to get rid of. He didn't want to deal with the tenants any longer. I did not know him or anything about the property when he contacted me. He found me online. I found that I was the 5th Realtor who had the listing in 2 years. I had my work cut out for me. I was determined to sell this home. I did my comparibles and got the seller to agree to a reasonable price. I then got ready to market the property and GET IT SOLD. Unfortunately, luck was not on our side and the home had a fire the weekend after I listed it. I now had to coordinate with contractors to show the property. The owner wanted to get rid of it more than ever. This was not the market to try to sell a investment property in this condition. The contractor was doing a great job but the seller was getting itchy and inquired about auctioning the property. I explained to him that in this market people at auctions are looking for bargains. While there was a little room on his price, his loan amount did not allow for that much room. He insisted I should do this and would not leave it alone. Finally, I called an auctioneer in the area. He said they would start the price at 30% below the lowest price home in the area. Once I told the seller that, he rethought the idea. I told him to be patient, we were priced well and would find a buyer. Once the work was just about complete, I was able to find a buyer. There were a few fire code issues that needed to be done to bring it up to code, but they were done and we CLOSED!!!! Recently, I have been made aware of a service called Realtybid.com. Here is a link to an article The Providence Journal wrote about it: http://www.projo.com/projohomes/content/HO_online011308_01-13-08_728H94C_v44.1b9e277.html It remains to be seen if it will work in our market. Sometimes things that take off in other parts of the country just don't seem to work here, we shall see. In the end, price is still king.
Foreclosures in Rhode IslandPeople are always asking me how to find a foreclosure to buy in Rhode Island. Where can you find a property before foreclosure? In Rhode Island, the foreclosure does not need to be filed in the courthouse as it does in other states. The entire process COULD take as little as 110 days from the date of the first missed payment. The lender is allowed to start the process 60 days after the first missed payment. They must then send a letter to the homeowner. Once that is done, the lender must advertise the sale 3 consecutive weeks before the sale. All this being said, I have seen them take much longer, most banks want to avoid this if possible. So, the answer is, the only place to find a property before foreclosure is to either get inside information from someone who knows the homeowner is in trouble or find it in the paper. Once they are in the paper the house is well into the process and now many fees have been tacked onto what was originally owed. You can find them listed as short sales in MLS, I will cover this separately. This is not the market to buy a pre-foreclosure in. I have been to foreclosure sales, there are usually no bidders. If the house was bought or refinanced in the last few years the amount owed is too great to make it worth buying a house sight unseen. There is no room for profit, therefore the bank will most likely be taking it back. If you notice a property in the paper that says the loan that is being foreclosed on is from before, say 2004, it's worth looking into. But be very careful, there are liens that are not wiped out at the foreclosure sale, you must research everything owed on the property, that means a trip to the town hall and a lot of investigation. Also, you often can't see the property before buying so you don't know if there are structural problems and if everything is in good working order. Another thing to keep in mind is the mindset of the homeowner - are they going to take care of the house that is being taken away from them? How can I buy the house after the foreclosure sale? Most banks I have dealt with will not deal with a buyer directly. They usually have an appraisal done on the property and then list it with a Realtor®, this does take quite a bit of time - you are likely to see the home vacant for awhile. The properties are then listed in the Statewide Multiple Listing Service just as any other home. They usually have some kind of language like "proof of funds or prequal must accompany all offers", "corporate owned and sold in current condition"or "special addendum". These are often the best deals going. You can view the property, get an idea of what you're buying. The banks don't want to be landlords, they want to get properties off their books. There is no fear of insulting them. Make an offer!!!! This is the time to buy. The interest rates are at record lows. I have even heard of banks working with some of the down payment assistance programs, so some may be able to buy with no money down. What is there to lose? 4 bed victorian; modern conveniences, period details
New listing-affordable condo near Westerly Hospital, RI
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Alayna Berek West Warwick, RI More about me… Keller Williams Realty Office Phone: (401) 785-1700 Ext.: 422 Cell Phone: (401) 714-7724 Email Me ;) Links;) Tags (Tag Cloud);) Archives
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If you don't have the ability to pay cash, you will need to find a way to finance. 
You can't just go to any bank and get your garden variety pre-approval for this. Unless the unit is on it's own land, you will have to go to one of only a handful of lenders that will be willing to finance one on leased land. For anyone interested, I have compiled a list of these, contact me. The rate is usually about 2-4% higher than the current rate on mortgages. The finance companies are usually more strict with credit, as well. They require 10-20% down and will finance for about 20 years but that depends on the age of the unit. For the most part a mobile home built earlier than 1976 cannot get financing, but some lenders will approve them if the unit has had substantial updating.
dogs or renters. Some have age restrictions which could mean no children or no residents under 55. Typically the age restricted parks will make exceptions for handicapped individuals. There can also be credit score and income requirements. Even when paying cash some may require a substantial monthly income to get a lease with the park which can be an issue for those getting Social Security or Disability payments. 
I don't think everyone understands the procedure so I thought I would clear it up.
Central A/C
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