Alayna's Blog

Hunter's Crossing Contemporary Cape 4-5 beds

2008-06-26T09:22:39Z

Hunter's Crossing-Contemporary Cape

Location: Coventry, RI

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

Alayna Berek

401-785-1700 x422

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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

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EQUAL HOUSING OPPORTUNITY

VFLYER ID: 1702563

"No Money Down" - Is it really possible???

2008-04-01T21:44:11Z

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 $170,000

2008-03-21T19:15:46Z

Make an offer-possibilities

Location: East Providence

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

Alayna Berek

401-785-1700 x422

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Pricing

Asking Price: $170,000

Flexibility: Negotiable

Attributes

Appliances

Dishwasher

Interior Amenities

Fireplace

Hardwood Floors

Exterior Amenities

Fenced Yard

Equal Housing Opportunity

VFLYER ID: 1577420

Spacious condo for rent

2008-03-01T08:24:31Z

2 bed, 2 full bath condo MOVE RIGHT IN

Location: West Warwick, RI

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

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Contact Information

Alayna Berek

401-785-1700 x422

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Pricing and Availability

Rent: $1,100 per month

Available Date: Thu Feb 14, 2008

Property Location

650 East Greenwich Ave
West Warwick, RI 02893
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Attributes

Rental Unit Amenities

Balcony

Other Amenities

Guest Parking

Washer/Dryer

Fireplace

Deck

Equal Housing Opportunity

VFLYER ID: 1498470

Buying a mobile home in RI

2008-02-04T12:14:27Z

So, 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.

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.

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,

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.

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 sellers

2008-02-02T22:47:02Z

I 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 Island

2008-02-01T17:48:03Z

People are always asking me how to find a foreclosure to buy in Rhode Island. I don't think everyone understands the procedure so I thought I would clear it up.

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

2008-01-25T16:46:32Z

Alayna Berek | Keller Williams Realty | 401-714-7724

27 Sunset Ave, West Warwick, RI

Victorian with period details: hardwood floors, great woodwork, stained glass, fireplace.

4 Bdrm Single Family House

offered at $228,912

Year Built	1905
Sq Footage	1,776
Bedrooms	4
Bathrooms	1 full, 1 partial
Floors	2
Parking	4 Car garage
Lot Size	7,405 sqft
HOA/Maint	$0 per month

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Fireplace
Hardwood floor	Living room	Bonus/Rec room
Dining room	Refrigerator	Stove/Oven
Basement	Washer	Dryer
Laundry area - inside

ADDITIONAL PHOTOS

Seller contact info:

Alayna Berek

Keller Williams Realty

401-714-7724

For sale by agent/broker

Equal Opportunity Housing

Posted: Jan 23, 2008, 5:28pm PST

New listing-affordable condo near Westerly Hospital, RI

2008-01-25T16:44:30Z

Alayna Berek | Keller Williams Realty | 401-714-7724

140 High St, Westerly, RI

Affordable condo with laundry in unit.

Studio Bdrm Condo

offered at $119,000

Year Built	Unspecified
Sq Footage	359
Bedrooms	Studio
Bathrooms	1 full, 0 partial
Floors	1
Parking	2
Lot Size	Unspecified
HOA/Maint	$103 per month

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	High/Vaulted ceiling
Dishwasher	Refrigerator	Stove/Oven
Microwave	Washer	Dryer

COMMUNITY FEATURES

Storage space(s)

Secured entry

Elevator

ADDITIONAL PHOTOS

Seller contact info:

Alayna Berek

Keller Williams Realty

401-714-7724

For sale by agent/broker

Equal Opportunity Housing

Posted: Jan 23, 2008, 5:22pm PST

CD-Rom business cards

2007-12-14T21:12:34Z

I have been thinking recently about the cd-rom business cards. While they are a little bit of an investment upfront, I think about the cards I leave places where the people don't necessarily know me. What if I had my website link, a marketing presentation, etc. on that card. Would that increase the response?

My husband has a restaurant, which, I know, I have mentioned before. But to the point, I leave stacks of cards there all the time in the waiting area. The holder is always empty but I have never gotten a direct call from that. I did, one time, see the whole stack in the small trash bin directly below them and another agent's cards were in my holder. After that I took some of the adhesive cards I have an stuck them on the front and back of the holder thinking that would send the message that this was my holder. No such luck, people still put their cards in there.

I look for the best in people and don't think they are being malicious. I would hope they don't know it's my husbands place and just think I, like them, am just placing my cards in a favorite place.

Anyway, back to the point. Has anyone tried these cd-rom cards and if so, what has been the response? I would love to hear. I was thinking about incorporating them into my '08 business plan. Let me know.

Finally, saved from pole clutter

2007-12-13T18:25:31Z

Although it has been illegal all along to post signs on utility poles, everyone still does it because nobody is enforcing it. According to state law, without first obtaining permission(which I am sure no one has done), there is a $250 per incidence fine and the violator is responsible for any cost to repair. See law here:

http://www.rilin.state.ri.us/statutes/title11/11-35/11-35-28.htm

Now, Coventry, RI has passed an ordinance to prohibit posting on poles and fines will range from $100-$250. It sounds as though they are going to try to enforce it. It is sad that people who lose pets can no longer post those notices because I think that is an effective way to find a pet. Here is the Providence Journal article:

http://www.projo.com/ri/coventry/content/WB_coventry_council_12-11-07_PJ8740L_v7.28ba484.html

I am ecstatic. Although I don't live in Coventry, I drive through it everyday and I cringe when I see these poles that have 3 or more signs on them. It makes everything look messy and congested. At election time it is even worse with all the signs on lawns adding to the clutter. Luckily, I live in a town that does not have lawn political signs. I am relieved to be near home at those times just to be away from the mess. It especially bugs me when my fellow agents can't be bothered to remove the signs after they have sold the house. Sure, other citizens leave up their yard sale signs, etc, but they aren't being paid to do a job. Sometimes we seem to forget about these little details after the sale is over. It's funny when I go over to list a house and the last agent's sign is in a corner in the garage because they never bothered to pick it up.

I do not post signs on poles already. I just think as Realtors® we are supposed to follow all laws. How can we then go and blatantly ignore them and put a sign on a pole? I have, on occasion put a sign up at the end of the road, but only with the permission of the owner of the property. When people ask me if they can have a sign at the end of the street, I just inform them that putting them on the pole is illegal and if they get permission from their neighbor, I'll be happy to place one there.

Go Scout Homes-Does it make sense?

2007-12-07T12:06:31Z

I have been considering for some time the importance of using Go Scout Homes. For those of you who don't know what it is, it is a real estate show on Cox Communications. Basically, it is a computer program the does a constant loop of all the properties advertised.

While I think it is a great listing tool, who dosen't want to see their home on TV? In newspaper, magazines, planes flying over with a banner, etc :-)

However, I have occasionally flipped through the channels and caught this. Once on the weekend, the image was frozen for the whole weekend. The houses are not organized by area, price, anything. It's pretty much chance if you happen to turn it on and a house you are interested comes on or you have to watch the houses you are not interested in all day long. And with close to 80% of buyers looking on the internet, isn't it easier to go to a website and plug in your criteria? Especially with 6168 single family homes on the market as of today(per MLS).

This channel just makes no sense to me. Also, Verizon is now offering Fios TV in our area and many have switched. So that means all of those people, people with satellite or basic TV(I am sure there must still be some of those) cannot see this at all.

With all of the ads on Cox for this channel, I am sure homeowners think this is a very important service. I, for one, think it's a rip off. I'll use my marketing dollars for more effective promotion.

House Hunters rerun

2007-12-06T16:01:04Z

So, I was at a walkthrough with one of my sellers the other day and he said "what are you not telling people you know that you were on House Hunters?" It caught me off guard because it had been so long ago that we had taped it. I do have a link on my website to info about the show, but you know how some things on a website are...I thought about it when I added it but now it kind of blends into the background I've been looking at it so long.

Oddly enough, the previous weekend my brother had been in the middle of the night flipping through the channels not able to sleep in his hotel room.(He travels alot for his job) He was amused to see me on TV. I live in RI and he in NC so we don't see each other too often. He called me the next day to let me know. On that same day, our office receptionist also mentioned she had seen it the night before.

It's so funny that even after all of this time I still get comments about it. I really didn't know what would come of it when it came up. The show called me and I figured, why not? It was kind of a long process, I had to have my buyer send in an interview tape of sorts. Then came the taping which was surprisingly long. I have to say now I know why actors make the big bucks. For every room scene they did at least 2-3 takes. My buyer bought her condo in June 2005 and the show did not air for the first time until Spring 2007. I almost thought they decided not to air it at all.

I won't divulge how the show is taped. As with all reality TV, it's not exactly as it appears. Sure my buyer actually bought, etc. There is no deception. But I can't watch the show anymore. I used to watch it all the time but this spoiled it for me. I don't know why I watch most of the real estate shows even though it is my profession, but I do. I suppose it's like my husband who owns a restaurant and still loves to watch Ramsay's Kitchen Nightmares, etc. I guess we both love what we do and like to see it from other perspectives.

Anyway, if you ever get the chance to do a show, do it. Have fun with it and who knows what will come of it!

Lender Limbo

2007-12-03T19:27:27Z

I am currently in what I call "Lender Limbo". I was supposed to close today. We had no time as of Friday but still was told today(Monday) was the day. I called first thing this morning and had no answer, as of 2 pm today the mortgage broker was still telling me today was a possibility. My sellers hung around all day with no answers. At 4pm he told me tomorrow was probable but they still needed one more thing. Who works like this? Are the sellers supposed to be sitting around with nothing else to do? They rushed around to clean out the house and garage Sunday night expecting a closing today. They refuse to play the same waiting game tomorrow. They now are not available until Friday. This is ridiculous. Do people not work on a deadline?

Foreclosures bad, not that bad(in RI, anyway)

2007-11-29T16:29:25Z

I was surprised by this article. Yes, the foreclosure filings in the Providence/New Bedford area climbed by 295% but are still only 1 in every 549 households compared to Oakland, CA which is 1 in 71. Holy smokes, this could be much worse. Sometimes, you need the big picture to give perspective on your situation.

http://money.cnn.com/2007/11/13/real_estate/no_abatement_in_foreclosures/index.htm?postversion=2007111910

The chase is on!!!

2007-11-27T11:55:32Z

We try so hard to get callers info on the phone when that is the last thing they want to give us. I laugh at the things people come up with to avoid giving their contact info. Things such as: I'm calling for a friend, I'm not ready to do anything right now, etc. At open houses I often get illegible contact info or incorrect phone numbers. I laugh at how many of the emails are yahoo or hotmail. I doubt this is their primary account.

Office closes

2007-11-23T14:37:30Z

Realty RI.com Is Closed

According to the Rhode Island Department of Business Regulation, Edward and Tracie Kedzierski have surrendered their real estate licenses to DBR and have closed both the Newport Rental Guide and Realty RI.com. They informed DBR that they have released their listings and clients. As a result, neither Ms.or Mr. Kedzierski may act engage in the practice of real estate as a licensed real salesperson or broker, according to DBR.

Here's a link to an article:

http://money.cnn.com/2007/10/30/real_estate/commissions_rise/index.htm?postversion=2007103113