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Rhode Island October Real Estate Market Report
With the release of the October real estate market report we receive verification of market trends prevalent in RI for much of the fall. For as sure as the cold weather that’s destined to hit our area, so too are some hallmark attributes of our local real estate market for the past several weeks. One key element which continues to riddle the local and national market is that of low inventory. Whether it is multi-family, single family, town houses, condos or rentals we simply do not have enough supply to meet with the ever increasing demand. How does that translate for the seller? Increased sales prices- by as much as $20 k in some markets such as Barrington, RI where last week the median home price was $500k. Another signature note of the fall market is decreased days on market. Homes on average in RI are remaining on market for roughly 90 days. The take away from these observances is that IF homes are priced at market value the likelihood that they will sell efficiently and lucratively is great. The big question then for those thinking of selling is whether to sell now and take advantage of the low inventory OR to wait until the spring and maximize the potential behind a bevy of willing and able buyers looking to purchase in our area.
Whatever your real estate needs and/or desires please reach out to me. I’d love to be of help. I simply love what I do and who I do it for!
Happy Thanksgiving!
Please click on the link below and enjoy the latest October Rhode Island Real Estate Market Report released by Mott & Chace Sotheby’s International Realty!
(photo above taken at sunset November 20th at Nayatt Point in Barrington, RI by John Huard)
Thinking of coming to Providence this holiday season?
If travel plans or hosting out-of-towners place Providence on your holiday radar this season be sure to check out this great listing of events from Go Providence.com http://www.goprovidence.com/things-to-do/providence-for-the-holidays/.Whether is taking in the tree lightings at City Hall plaza, heading to Roger Williams Park for their annual Carousel Village or venturing out of the city to Bristol’s lovely and lavish and festively decorated Blithwold Mansion at www.blithewold.org, you will surely be filled with holiday spirit and the bounty of Ocean State beauty we are so fortunate to experience during all four seasons of the year. While you are exploring be sure to head out to Attleboro, MA; a mere 10 minute drive from Providence to view the pretty light spectacular at La Salette Shrine. www.lasaletteattleboroshrine.org The Festival of Lights happens daily from November 23rd – January 1 with daily illuminations from 5-9 pm.You’ll be amazed by the beauty as 300,000 lights are on display at this unique shrine.
Whatever your travel and holiday plans entail be sure to take time to savor and enjoy this unique and delightful time of year with family and friends and please do let me know if your holiday or 2018 plans include real estate notions! I’d be happy to meet with you to discuss current and or future real esate goals and needs and would be happy to show you around this great state of ours AND our neighboring state of MA! Working with my clients on listing their prized home and or seeking that next special spot is truly what I love most to do!
Here’s to a wonderful holiday season to all!
Rhody Tales and Tours
Interested in learning more about where we live, work and recreate? Checkout this statewide mobile app that offers eclectic, personal and historic stories of and by Rhode Islanders. An inside view of some of very places were we live, work and recreate! Over 200 stories told and 17 tours found within this app. What a personal , multisensory way to explore Rhode Island! Take a look at the website and download the free mobile app. Let me know what and where you explore! http://rihumanities.org/program/rhode-tour/
Thinking of Selling?? Here comes the Boom!
If you are thinking of selling in the near future , this might convince you of selling in the near future. Yet another article supporting the finding that sales prices are up…way up…In Barrington, RI the median sales price has had a 12 month change of 72.9% . Significant increases in sales prices across all types of property are being seen all across RI and MA…Single Family, Multi family, Condos and apartments. With consumer confidence up and more and more loan options becoming available the pool of buyers continues to be strong AND able. Reach out to me if you’d like to talk about listing your RI or MA home….
Why it Pays to List your Home in Winter
Need some convincing as to why listing your home in the Winter is a great idea??? Check out the following article from Time Magazine highlighting why it makes market sense to list now, if you are looking to sell!
Why It Pays to List Your Home in Winter
Art & Motion
By Daniel Bortz October 30, 2015
Spring may still be peak home-shopping season, since most families want to move when the kids are out of school. Yet it actually pays to list in the winter, when buyers tend to have more urgency: A study by online brokerage Redfin found that average sellers net more above asking price during the months of December, January, February, and March than they do from June through November, even in cold-weather cities like Boston and Chicago. And homes listed in winter sold faster than those posted in spring.
Should you put your home on the market now? Unless you need to sell (say, you’ve purchased your next home or are relocating for a job), “timing always depends on supply and demand,” says Indianapolis real estate agent Christine Dossman.
To understand your local climate, check the number of days on the market for current and recently sold listings. If most are sitting for more than 60 days, it’s safer to wait until spring, when more buyers will emerge. Yet “if properties are selling quickly, take that as a green light to list,” says real estate broker Peggy Yee of Vienna, Va.
If you do move forward, these strategies will help make your home a hot seller this winter.
Price It Right
The quieter winter market brings special pricing considerations. Unlike in spring, when there are more shoppers—and it may make sense to price low to try to generate a bidding war—you’re less likely to receive multiple offers.
Winter is also a bad time to test the market and list high. If the house doesn’t sell, you may need to drop below market value to nab a buyer before new properties appear in spring and make yours look stale by comparison.
The upshot: Take a conservative approach and price at market value, Yee advises. Check closing prices of comparable properties sold in the past 30 days, then eye current list prices to make sure your home won’t look overpriced.
Schedule a Tune-Up
Winter buyers are particularly attuned to issues related to heating and maintenance. Get your furnace, HVAC, and roof inspected, and make any necessary repairs. Also on your to-do list: Clean the gutters, change air filters, and weather—strip the windows.
Many cold-weather house hunters will also be thinking about heating costs. Consider low-cost upgrades like insulating the attic or installing energy-efficient windows, which can slash utility bills, says Brendon DeSimone, author of Next Generation Real Estate
Brighten Your Home
Snow and gray skies make for a gloomy first impression. Warm up curb appeal with basic landscaping, and add inexpensive cool-weather plants like holly to invigorate outdoor space. Fix chipped paint, caulk windows, and repair cracked window seals, which can cause condensation that freezes over and creates an eyesore.
Offset the season’s poor natural light by painting your house off-white throughout—it sets a consistent color palette and makes the space feel larger, says Sacramento interior designer Kerrie Kelly.
And create a sense of warmth throughout the home, starting with the living room, where staging can have the greatest impact, according to a National Association of Realtors report. Items like a throw blanket can set the tone since “people are in winter mode,” says Annette DeCicco, a New Jersey regional sales manager at Berkshire Hathaway. Just don’t tie the space to a specific religion or belief, advises Kelly. To stay neutral, use such seasonal touches as stacked wood by the fireplace rather than holiday decorations.
As always, de-clutter and depersonalize. Put away family photographs so that buyers can see themselves living in the home; instead display pictures that show what the property looks like when the temperature is warmer, like the garden in full bloom or the backyard in the summertime. Just because it’s winter doesn’t mean buyers can’t appreciate what your home has to offer year-round.
Reach out to me via the contact tab below if I can be of any help! Happy to discuss any current and or future real estate needs with you !
10 Reasons for buying a home in the fall!
lhttp://realtytimes.com/advicefromagents/item/1006393-9-reasons-to-buy-a-home-in-the-fall
Many consumers think that the ideal time to purchase a home is in the spring. Actually that is not always the case. Fall and early winter are two ideal times for purchasing a home. The above article highlights 9 reasons why it behooves the buyer to purchase in the fall! The tenth reason that I would add and emphasize is the lack of competition. Homes that are for sale are fewer and father between and therefore the ball is in the proverbial buyer’s court as far as negotiating goes. Align yourself with a highly invested, knowledgable Realtor with a hand on the pulse of the local market and you will be well fortified to gain a home in a most rewarding fashion! I hope you enjoy the article and please reach out to me if I can be of any help in your imminent or future real estate needs!
Fun things to do in RI this weekend!
http://www.providencejournal.com/article/20150320/ENTERTAINMENTLIFE/150329979
Make the most of our lingering warm weather by taking in some fall activities here in the Ocean State! The Roger Williams Park Jack O Lantern display is always a huge hit and continues into the weekend! http://www.rwpzoo.com
Take a trip to a local farm such as Dame Farm in Smithfield and go on a tractor ride through the farm or pick your own apples! It is a beautiful family owned farm just minutes away from Providence. http://www.damefarmandorchards.com
Looking for some exercise? Take a long bike ride on the East Bay bike path and enjoy the overhanging foliage along the way! Head towards Bristol and take in the beauty of Colt State Park or head towards Providence and take in the urban waterfront seen as you pass through East Providence.
Looking for some great PVD breakfast options? Stop by Providence Bagel on North Main http://www.providencebagel.com and score a pretzel bagel if you are lucky ! This phenomenal bagel shop has been in existence for just over a year now and is leaving an indelible mark in the East Side food arena???? You can also check out the ever popular Rebelle Artisan Bagels on Doyle Street. The owner, an MIT grad, started her first bagel recipe right in her own kitchen and has applied her science background into creating one delicious bagel in what’s turning out to be a very popular culinary “experiment!” http://rebelleartisanbagels.com
So much to do in this incredible little state including taking in some great open houses!!! Take a peek at some Open House options at http://www.mottandchace.com/open-houses
Let me know if you’d like me to assist you in the search of a home in RI or MA. I truly love what I do and for whom I do it!!! My clients!!! Dowload my personal Sotheby’s International Realty App and you can let me know what you would like to see and contact me directly via your searches on the GPS formulated app! http://app.sir.com/SIRSARAHHUARD
Have a wonderful weekend!
It’s a great time to sell in Providence, RI
http://www.mottandchace.hcom/market-insights/east-side-of-providence
With the inventory low in the Providence vicinity, now is an ideal time to list your home OR to think about listing your home. With only 117 homes currently on the market in the East Side area of PVD, the competition is minimal. Showcasing your home in the most flattering way possible, with the assistance of a Realtor and pricing your home at market value will put you in an advantagious corner within the selling and buying dynamic. With condition , price and location being the top three elements that determine property value, your home in the Providence area is bound to sell in a lucrative and timely fashion. With the cost of living in Boston continuing to escalate to an unreachable level, we at Mott & Chace Sotheby’s International Realty are seeing more and more clients coming to us to search for properties in RI from the Boston area. Those commuting to Providence for work from Boston are now looking to relocate in and around the Providence area. It truly is a very favorable time to list a home in RI. With our lengthened warm weather we add another positive element to the listing formula. Furthermore if the predictions for a warmer winter are correct, one really can postulate that listing one’s home in late fall or early winter is a move to definitely consider! Beating out the spring onslaught of new listings with a winter listing often can ellicit great returns to our sellers. The fact remains that if consumers are contemplating moving next spring they are beginning the process now. 90% will start online by researching communities they desire and then once selected they will start to peruse listings. In fact, statistics show that most consumers have been looking online for three weeks before they even contact a Realtor!!!! So getting your home market ready and listed as early as possible is always the goal, especially in this market of historically low inventory.
I can assist you in planning that listing and would love to do so! I’d be happy to meet with you to talk about your options and your home and its value. I’d love to share with you the incredible arsenal of marketing tools I have provided to me by Sotheby’s International Realty! With our focuse on extraordinary collaboration, use of competition to derive the most lucrative selling price possilble, our referral network and our incomparable marketing reach I am well fortified to sell your home!!! Plus I have an innate love of hard work and passion and determination in what I do! Please contact me via the form on this site to discuss further and I look forward to hearing from you !
Fun things to do this weekend in the Ocean State!
Summer time is in mid to late swing here in the Ocean State!!!
Come get a taste of Rhode Island this weekend at the Charlestown Seafood Festival or at the third annual Providence Food Truck and Craft Beer Festival being held at scenic India Point Park! Information on the food truck event can be found at www.eatdrinkri.com . Information on the Charlestown Seafood Festival can be found at www.charlestownchamber.com
Head down to River Glow on Saturday from 7-10 pm to Main Street in Westerly to check out floating bonfires illuminating the Pawcatuck River! Check out www.oceanchamber.org for more info.
Get some late summer beachtime at either 1st, 2nd or 3rd beach in Middletown, RI where the surf has been high and the waters clear as of late. It is a beautiful time to enjoy all that the Ocean State has to offer!!!
Small town living
Growing up in the town I now live in as an adult, mom and working professional has many, many benefits. Not only do I know the town and it’s history and it’s people but I’ve developed a love of the area that encompases a wide range of life experiences for me. My family is here. My cousins are here. Some of my best friends from high school are here. All of us sharing a unique bond that goes back years and year.
When newcomers move here and look at all the town features and amenities that I grew up with , they see them and view them in a different light. The stone wall along the river on Mathewson Road- that’s the stone wall we used to sit on as kids and feed the ducks, and later just ” hang out ” on as teens. That small beach at the end of Ferry Lane- a photo taking spot for many new to town, yet also a swimming spot for a bunch of us one warm summer night during my senior year at Barrington HIgh School . The tennis courts at Barrington High School…New and multiple in nature to many yet my memory from that spot is of the cracked, slightly bubbled set of courts I spend four incredible years playing on. The Barrington Beach- Now a site with a lavish bath house and landscaped surroundings with regular concerts played and food trucks visitng . For me it was the old, rocky “sanded” beach with old tires placed as the parking lot border and rarely a life guard on duty. Yet it was our beach. Our place to hang out, swim out to a boat and gather every July 4th for a huge fireworks show.
So for me, the everyday viewings those newer to Barrington take in, are seen by me , daily, in a different light. A light composed of framents of a lifetime of experiences. Happy, sad and all the in between. An appreciation for this town unique to those born and raised here. It’s a perspecitive of Barrington I treasure and one I lean on heavily now as a Realtor. My knowledge of this town and it’s inhabitants, it’s stores , it’s merchant owners and it’s families and neighborhoods helps me tremendously and is one that I savor. Each and every day..in my hometown of Barrington, RI. 🙂 Enjoy the road and savor that Rhode Island view!
