The Riverside, RI housing market is very active this Fall. As of today we have 94 houses on the market with days on market averaging 70 days to close. Distressed sales are at an all time low of 18% of the market. There are still bargains to be had for the right price. If you are a buyer this is also a great market for you. Interest rates are still low at about 4.21% for a 30 yr fixed. Predictions for 2015 appear to be … (0 comments)
We are almost in the 4th quarter of 2014- the home stretch of 2014. I can't tell you how many "sellers" I've talked to over the last 2 months who have said "I'm going to put my house on the market next year/spring." My typical response is "why are you waiting?" I live in the North East, Rhode Island specifically and every year the talk of the spring market gets buyers, sellers & Realtor's excited. Typically, homes for sale start going on the market in April and sell over the spring … (6 comments)
The most important letter you'll submit to a home seller is the one you'll get from your lender stating that you are preapproved for a mortgage. Savvy listing agents will counsel their clients to refuse offers from unapproved buyers, so all the flowery prose of a home-offer letter will mean nothing without loan preapproval. Assuming you have your lender's letter, whether or not you also submit a home-offer letter depends a great deal on the type of market in which you're buying and the competition. The Market When the real … (6 comments)
Bargains on homes can still be found in Riverside, RI. Yes, we know the housing market has picked up, and yes we are aware that homes are now selling faster (usually under 90 days on market) and for more money (normally 4-6% higher than last year). With that being said, here are examples of homes to be found in Riverside, RI which I consider a bargain.
A 3 bed, 1 bath 1314 sq ft house on a small lot with central air, full basement, and walking distance to Narragansett Bay … (4 comments)
Here are a few helpful questions every home seller should be asking a potential listing agent, and yourself before listing your home for sale. Having these answers a head of time will help determine if you are choosing the right agent to sell your home. Do you have an active real estate license in good standing? How long have you been licensed as an agent? Why do you think I should list with you? What professional designations do you hold? What party will you represent- the buyer … (2 comments)
Warren, RI 02885 is a town sandwiched between Barrington, RI to the north, and Bristol, RI to its south. It's a quaint town along Narragansett Bay and the Kickemuit River. Warren has a busy Main St with shops, restaurants, antique shops, and art galleries. On a weekend you will find the sidewalks busy with locals meeting for breakfast, or out of town people looking in the antique shops. New business are opening on Main St with a regularity that shows the town is prospering nicely. Currently, there are 48 single family homes on the market for … (0 comments)
Barrington, Rhode Island- A Great Place to Call Home Barrington, Rhode Island is a GREAT place to call home. It's April and Easter is next Sunday. The flowers are blooming, the birds are singing and the grass is becoming green once again. I love Spring in Rhode Island!The housing market is bursting forth as well. Everyday I drive down my neighborhood streets and see more housing popping onto the market. The market is HOT here in Barrington, RI!As of today there are 161 houses on the market ranging in price from $140,000 to $4.9M. … (1 comments)
Spring begins tomorrow and the Spring market is heating up in Riverside, RI. Even though there is still talk of more of that horribly dreaded "white stuff" coming next week. Just last week I noticed for sale signs popping up like daffodil's. This was a especially cold, snowy winter for Rhode Island. There was slim pickin's for buyers looking between November and February, but that's all changing. With the promise of warmer weather and greener grass comes the desire for sellers to finally put their homes on the market. … (7 comments)
What For Sale By Owners May Not Know Can Hurt Them.
Some homeowners consider trying to sell their homes on their own. To those in the industry this is known as a FSBO. Realtors and real estate agents know going this route isn't a particularly good idea for a vast majority of sellers. Here's why. Too many moving parts/people to negotiate with: Here is just a few of the people involved in a real estate transaction which you will negotiate with, communicate with, need something from etc... The buyers who will want the best possible deal, the buyers … (0 comments)
Just this week I've received 2 calls from sellers asking for market analysis on their homes. That got me thinking that maybe people are beginning to realize that the market in RI has picked up. 2014 market predictions for my little slice of heaven (aka Rhode Island) are that sellers should expect to see a 5-8% increase over last year. That's great news! Sellers are reaching out to real estate agents looking for market analysis on their properties. More properties are hitting the MLS everyday. So, you may … (5 comments)
Happy New Year! 2013 was a great year for the Riverside Rhode Island housing market. Let's see where we are at the beginning of 2014. Currently, there are 22 properties listed for sale with prices ranging between $75,000 to $450,000. The median estimated home value in Riverside, RI is $174,420 which is slightly lower than the median estimated home value for all of Rhode Island which is $217,150 The median listing price in Riverside, RI is $177,500. Compared to all of Rhode Island being $225,000. Days on the … (1 comments)
I met with a newly married couple who are first time home buyers this week. They were very excited, nervous and had tons of questions. The first thing I did was to ensure them that they have successfully completed step one in the home buying process, hire a Realtor. Now is the time to educate them on mistakes to avoid as first time homebuyers. Mistake #1 Spending the maximum on housing- Every buyer should create a budget and know their limits. Consideration on how much to spend should include weekly … (0 comments)
ri real estate: The Advantages of Getting a Mortgage Preapproval
- 10/24/13 02:18 AM
The Advantages of Getting a Mortgage Preapproval The homebuying process can be exciting, but also stressful. When there are a large number of buyers in the market for real estate, the odds of being able to purchase your desired home can be low. However, getting a mortgage preapproval prior to home shopping can dramatically increase the odds of success. Make Mortgage Preapproval Your First Step A mortgage preapproval should be a homebuyer's first step when purchasing a home. A borrower can choose to meet with a lender or get an initial preapproval via the Internet. The preapproval process is similar to … (2 comments)
I just sat through webinar on marketing. It got me thinking about my own form of marketing. I developed my marketing plan last year about this time and it seemed to work pretty well. This was my second year in real estate and I was quite pleased with what I did for business over the spring and summer. I closed 8 transactions by September; which doubled what I did my first year. So...I should be happy and content, right? WRONG! Now, I need to take what I put in … (25 comments)
Warwick, RI, September 20, 2013… According to sales statistics released by the Rhode Island Association of Realtors today, the median price of single family home sales was $225,000, up 10 percent from August 2012. Single family foreclosure and short sales dropped to 16 percent of total sales – excluding those distressed sales, the median price was $245,000. Sales activity also rose 22 percent in August from 12 months earlier, a pace not exceeded since last November. Pending sales – or sales under contract but not yet closed – fell seven percent since … (0 comments)
2nd quarter home sales for Barrington, Warren, Bristol and East Providence were somewhat of a mixed bag. While Warren and East Providence gained momentum in home sales, Barrington and Bristol loss some of their momentum in home sales. Home prices fluctuated between towns and between this time last year. Here's how the numbers broke down according to each town. Barrington- 71 sales this year compared to 78 sales this time last year 2012. 2013 median price is $390K versus … (0 comments)
It's early October in Riverside, RI and the leaves are starting to turn their brilliant colors of yellow, orange, and red. Normally, this time of year homeowners are preparing their homes for winter and decorating for the holidays. The real estate market begins to slow and less homes come on the market. Those homes that do stay on or enter the market are motivated sellers.
Here's a snapshot of what the Fall Housing Market is looking like for Riverside, RI. 67 single family homes available ranging from $599K to $89K. 7 condo's … (2 comments)
Affordable living in Barrington, RI. Is there such a thing? Many Rhode Islanders know Barrington as the town sandwiched between Riverside & Warren, having a great school system and a high tax base. The myth was that you had to make a lot of money to afford to live in Barrington. I'm here to dispel that myth. Homes for sale in Barrington, RI under 250K
77 million Boomers, now that's a lot of influence on everything from the economy to politics, and to the housing market. Not all Boomer's are alike, so if you want to make money in the housing market, keep up with your knowledge of what this demographic wants. 8 out of 10 own their homes, 4 out of 10 own another property whether it's an investment property or a vacation home. In contrast, US Census numbers show only 6 out of 10 American's own their home. The Baby Boomer generation should be divided … (2 comments)
Two weeks ago I received a phone call from someone from our local area newspaper The East Bay News. She asked me if I had gotten her email yesterday. To which I replied "What email?" Which sent me off looking in my spam folders, trash, unopened emails etc. She began telling me why she emailed me. She said "I read your blog (actually several of them) on Google, and I love what you have to say about the local area real estate market. By now I had found her email … (23 comments)
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