| Newport RI - Multifamily homes report - Available properties and properties sold in the last 90 days |
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| The year is almost over, good thing, it is time to look again, maybe come up with a plan to acquire real estate. At Newport Real Estate we have been looking at the current market and believe that there are some very good opportunities available. |
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| There are a couple of trends to keep an eye on, inventory and type of sellers. |
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| The multifamily inventory in Newport has continued to shrink, slow, but it has, right now we have the fewest number of multifamily homes available in the last 6 months, only 58. It is very important to keep an eye on this number, if this trend continues, the Spring of 2011 might be a good time to sell. |
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| The real estate market in the Island is a little more difficult to grasp sometimes, we all know that there are a lot of foreclosures, and that very good deals can be bought this way, however, there is not many foreclosures in this area and once any property gets foreclosed, it comes in the market priced very competitively, it usually goes under agreement in days, sometimes weeks, but not really longer than 30 days. |
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| Because of this, it is important to understand where the good deals might be, in our area, the way to get a very good deal is by trying to get to it before it goes to foreclosure. |
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| Does short sale sound like a plan? In this area, and after working with several investors, we have found that that is the way to negotiate a good price for a property. |
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| I am looking for investors and home buyers interested in getting some of these excellent deals available out there. |
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| I have broken down the report for multifamily homes in Newport as follows. |
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| Multifamily Homes - Short Sales |
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| Multifamily Homes - Private Sellers |
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| There is only one REO and it has been pending since it went in the market. |
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| 37 Hammond Street - Only Multifamily REO in Newport. |
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| The following multifamily homes were sold in Newport in the last 90 days. |
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| Newport - Sold Multifamily homes - 90 days back |
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| At Newport Real Estate we are looking for folks who need help, if you or anyone you know is having trouble affording their mortgage or facing foreclosure, there are options, and we can help. Call for a free consultation. |
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