Friday, December 15, 2017

Finalized Tax Cuts and Jobs Act Bill - Details Affecting Real Estate

Finalized Tax Cuts and Jobs Act Bill - Details Affecting Real Estate

By Emilio DiSpirito Radio Show Host

Realtor Emilio DiSpirito in the iHeartradio studios

The highly anticipated bill dubbed "Tax Cuts and Jobs Act", pushed by the Republicans, has been finalized on Friday, December 15th 2017 and will go to both Houses of Congress Tuesday, December 19th for full approval. Once thereafter it will cross President Trump's desk for his blessing. 

There is a lot of concern that certain details like deductions for mortgage interest and property tax would disrupt the real estate market. As a Realtor and member of agents selling in the top 1% of the country, I strongly disagree. Let me explain.

  1. This bill serves to help the middle class (about time!) with lower tax brackets and double the standard deduction! Federal tax deductions from $6350 to $12,700 filing single and from $12,000 to $24,000 when filing married! 
    1. Think about folks retiring or in retirement! They need deductions more than anyone!
  2. "Main Street" business, aka small business owners will find that their tax rate will be reduced up to 29.6%!
    1. When local business owners pay fewer taxes, they invest in their business and create jobs. 
  3. Corporations in America will be paying -14% less in 2018 than they do today! Currently, at 35%, America is the highest taxed country in the industrial world when talking corporations! 
    1. When companies earn more, they hire and spend more. This stimulates all income classes through job growth.
  4. When there are jobs, there is additional income to be spent, money to be lent and the economic wheel is turning.
  5. Currently, homeowners can deduct up to $1.1 million of their first and second homes in interest deductions. 
    1. Under the new bill, two things happen.
      1. All current mortgages are grandfathered in and nothing changes. 
      2. All new home purchases on 1st and 2nd homes will receive interest deductions on the first $750,000.
  6. Right now you can write off all of your property taxes on your first home, land and vacation homes. 
    1. The bill will allow for a deduction of up to $10,000 total on property taxes. 
      1. Now allowing taxpayers to write off Sales Tax, Income Tax or Property Tax. This allows taxpayers in all circumstances, property owners or not to benefit!
        1. Imagine car sales, luxury goods sold, etc! They will all increase!!
Other Important Factors That Will Increase Spending:
  1. No more Obamacare penalties!
  2. Relief for medical bills!
  3. Expanding ability for citizens to contribute more to non-profits!
  4. Allowing extra support for Grad students!
  5. Significantly improves America's position on energy production
  6. Hurricane Relief
Stay tuned for additional information as it comes in!

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Barry Habib joins Emilio DiSpirito on The Round Table to Talk New Tax Plan and How It May Effect Real Estate!

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Monday, November 20, 2017

Is buying a home a good investment?

Is buying a single family home a good investment?

By Emilio DiSpirito Real Estate expert and radio show host of The Round Table Real Estate Simplified

We all need a place to live, right? So when choosing to buy a home, the question hits everyone the same; "is buying a home right for me?". "What are the pros, cons and long-term benefits or pitfalls of owning a home?" we ask ourselves! Well, the math does not lie.. so let's take some basic numbers and see if buying that single family home is a good investment! 

Let's assume that we own a home and will hold on to it for 30 years, basically the length of our mortgage. We are on time with our payments each month and let's also assume that the cost of taxes and insurance won't increase over time 😅
  • The median sale price for a single-family home is $287,700. 
  • An estimated property tax per year would be $4,000 per year
    • $120,000
  • Approximate insurance cost $1000 per year
    • $30,000
  • 4.5% rate with 20% down on a 30-year mortgage
    • $189,667 over the life of the loan
  • Maintenance? Roof, furnace, upgrades/cosmetics, etc.
    • $47,000
  • Heat, Hot Water, Electricity at $2400 per year
    • $72,000
  • Water and Sewer
    • $36,000
By taking this simple calculation, your home you thought you had purchased for $287,700 had really cost you $782,367 or $26,079 per year and $2173 per month. 

Keep in mind that real estate increases in value roughly 3.5% per year when averaged over time. When you use a compounding growth of 3.5% year over year to $287,700 you get $807,515 sale price 30 years down the road!! 

$807,515 (sale price) - $782,367 (cost) = $25,148! Roughly a  9% return on your original investment or a 3% take from the homes value.

Needless to say the following benefits are not taken into consideration:
  • Mortgage interest rate deduction savings
  • You have to spend money to live somewhere anyway
  • Living comfortably in your own domain
Buying a single-family home in 2017 and holding on to it for 30 years is NOT a good investment, however, it's more or less an opportunity to break even and live for free in the end.

warwick rhode island real estate infomration


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Tuesday, November 14, 2017

18 Hottest Towns in Rhode Island to Sell a Home This Winter!

18 Hottest Towns in Rhode Island to Sell a Home This Winter! 

By Emilio DiSpirito Rhode Island Listing Agent for real estate news and advice. 

Should I sell my Rhode Island home this winter?

Here is a list of the best selling towns in Rhode Island for single family homes!

We ranked this report on Inventory by calculating the market absorption rate. We get this number by dividing the average number of sales per month to date to the number of active listings on the market. 

#1 First off, if you own a home in Hopkinton 02833, Richmond 02875, Scituate 02823 & 02815, Burrillville 02826, Glouster 02829 the inventory has been depleted and is nearly non-existent! Now is the time where you literally have zero competition and you can demand the highest price!! Call me 401-359-2338 to see what you will get in this market! Or

Random Fact: There is only 1 building in Providence for zip code 02902! 75 Fountain Street, Providence RI 02902. Check it out! 

Here are the top 13 towns in Rhode Island for the lowest rate of supply! 

#1 East Providence, RI (zip 02915 and 02916) with 1.44 and 1.62 months of housing inventory available. 
#2 Woonsocket, RI (zip 02895) with 1.63 months of housing inventory on market! 
#3 Richmond, RI (zip 02812) with 1.64 months of homes supply available. 
#4 Cranston, RI (zip 02910) with 1.68 months. Very low inventory!
#5 Pawtucket RI (zip 02860) with 1.69 months of inventory for sale. 
#6 Warwick RI (zip 02888) tied with Burrillville )zip 02830) for 1.71 months of homes available to purchase. 
#7 West Warwick RI (02893) ranks 7 for fastest-selling markets with least amount of inventory, with 1.77 months of available homes for sale.
#8 Central Falls RI (02863) with 1.80 months.
#9 Warwick RI (02886) with 1.84 months supply of homes available. 
#10 Providence RI (02860) 1.85 months.
#11 Providence RI (02904) 1.89 months.

Whats the best way to make the most when selling my home this winter? Click here and find out! :)

Needless to say, the market has never been better to sell a home in these zip codes. to schedule a fair market value assessment and marketing consultation today.

                                          Watch the video here! 

Tune Into the Podcast Below!

 Click photo to listen to Rhode Islands best real estate news and advice!

Click the picture above to listen to Rhode Island's Number 1 Real Estate News and Advice Show or visit

Information sourced from RI Association of Realtors Heat Map

Monday, October 30, 2017

What is the best way to sell my home in fall and winter?

What is the best way to sell a vacant home in the fall or winter?

By Emilio DiSpirito, Realtor, Radio Show Host, Blogger & Real Estate Podcast Host 

Is the fall or winter a good time to sell a home in Rhode Island?

Selling a home during a New England winter!

The winter and fall months have historically seen fewer sales than warmer months. Why? Some homeowners do not want the traffic or "mess" during the busy holiday season while others are misinformed and believe it is a bad time to sell. 
  • Get this! During the heat of the Rhode Island summer market in July 2017, a combined number of 1439 single family, multi-family homes, and condominiums sold in Rhode Island. October 2017 seen about 9.8% fewer home sales which are less than a measly 140 homes statewide. 
  • Furthermore, December 2016 seen 1264 homes across the state sold which is only 175 homes fewer statewide than the hot summer month! 
What these statistics do not tell you is that in December 2016, when you combine condos, single family and multi-family active listings for sale you had 4,319 total!!! When we combine all 3 categories today, in November 2017, we have only approximately 3900 homes for sale in Rhode Island! 

Needless to say... there are just not enough homes on the market for the demand and regardless of what time of year, as long as buyers can afford to buy as well as navigate the roads, homes will sell. 

What can I do to sell my vacant home for the highest possible price in fall or winter?

The formula is very simple. I've shown hundreds of homes to buyers all over Rhode Island and Massachusettes and the results are always the same! Warm🔥and inviting spaces sell a home faster and higher at price!! Vacant homes can be shown at all times of the day and night!! This is a huge plus and will command more traffic! Let's leverage this!!

Warm and inviting homes sell faster and higher in price!
  • A buyer will rush a cold showing and will appreciate and stay in the warmer home!
    • Keep the heat set between 67 and 68 degrees for a comfortable temperature. 
    • This temperature will also ensure your pipes do not freeze!
      • Frozen pipes lead to floods, mold and costly repairs! 
  • Change all of the light bulbs to energy efficient LED bulbs! Save money and add life to your space!
    • With showings happening many times when people get out of work during the weekdays, make sure that the exterior of the home, front and back is very well lit, safe and inviting. 
    • Interior spaces should be lit accordingly. Pay special attention to lighting in the kitchen, bathrooms and living areas! Place lamps in rooms without overhead lighting. 

Make sure the property is maintained! 

  • Curb appeal is critical! Make sure that the grass is trimmed in the fall and that the walkways are clear of snow and ice in the winter! 
    • Imagine this! It's highly likely that the buyers coming to see your home have viewed other vacant properties as well. Other properties which did not have a clear, welcoming and safe path to the front door!! Set yours apart by ensuring a smooth transition from driveway to the front door! 
    • If you are not in a position to do it yourself, ask your Realtor for a referral or offer extra compensation to your agent to handle. 
  • Offer serious buyers a copy of your Pre-list home inspection report
    • Show buyers you care about your home and hire a home inspector to ensure that the home is safe, that it is financeable and turn key with a pre-list home inspection report!
      • Click the video below to learn how to prepare your home to meet criteria for all of the mortgage programs like FHA, VA, RI Housing, etc.

Stage the interior 

  • Staging will allow for buyers to connect the dots and also feel more at home than a blank canvass. Roughly, only 1 out of 10 buyers will be able to image the space without seeing a visual. 
  • Hire a reputable home stager who has an inventory that will compliment the style of the house. 
    • Usually, pricing is between $1,000 and $3,000 to stage the main living areas and master on a 2,000 sq ft home. 
    • Buyers buy on how a home makes them feel! Make them feel at home!!

Bake cookies!

  • Hold an open house and bake some cookies and offer hot chocolate to your guests! The smells, taste, and experience will allow your buyer's brain to connect with the property in more ways than one! 

Use data to determine your homes fair market price

  • Price your home according to the market and not your emotional ties
    • Homes priced properly will outshine homes that are not, may lead to multiple offers and are guaranteed more often than not to actually sell your home at a higher price point than playing the sit and wait for price drop game! 
To schedule a 20 minute appointment to get your real estate home value report, visit or call Rhode Island & Massachusetts Realtor Emilio DiSpirito 401-359-2338 to set up a consultation. 

Tuesday, October 24, 2017

Rhode Island MLS

Rhode Island MLS
Searching RI Multi Listings Service - What to know!
By Emilio DiSpirito IV

When searching for your next home, especially in a seller's market where homes are selling sometimes within hours after being posted, it is essential to get the latest listings to your email before other consumers!!

Buyers working with a Rhode Island Realtor who understand the new MLS software can allow you instant access to their MLS program where you will be notified as soon as a listing hits the market.

First off, what exactly is MLS and what does it mean? MLS stands for Multi Listings Service and is the lifeblood of the real estate market. This is a site that only Realtors have access to and every home listed by a licensed real estate agent who is a member of the National Association of Realtors is entered into this system.

What about real estate search sites? Sites like Zillow, Trulia, Realtor and Homes are connected to the MLS through the IDX or Internet Data Exchange where the information is lagged sometimes by hours and even days. In addition, the information going from one platform to another is not always accurate.

As a first time home buyer or any home buyer, how do you get access to your local RI MLS? By teaming up with a local real estate professional who understands the latest software, you can see all of the latest homes that hit the market. For instant access in RI or MA, you can either call 401-359-2338 or email

For more great real estate information, to search the local MLS or to sell a home, please visit

Tuesday, October 10, 2017

What For Sale By Owner Websites & Programs Don't Want You To Know

What For Sale By Owner Websites & Programs in Rhode Island Don't Want You To Know

By Emilio DiSpirito

For more information visit

  1. The owner of For Sale By used a Realtor to sell his Manhatten Condo. 
  2. Upfront Fee's! 
    1. When working with a Realtor, more often than not, you will not pay anything upfront as Realtors get paid at the closing.
  3. Inferior Listing
    1. FSBO websites in Rhode Island limit the number of photos you can place online. Many times fewer than 10 are allowed. The RI Statewide MLS allows 40. 
    2. Often times, there is no connection to the MLS
      1. Multi Listing Service aka MLS is the website Realtors only have access to.
        1. MLS feeds to thousands of websites
        2. All of the Realtors see homes on MLS
        3. FSBO homes are hardly seen and websites have low traffic
  4. FSBO sites do not have to abide by any standards of Ethics
    1. Realtors have a strict code of ethics they are held to or will face harsh punishments by fines or dismemberment.
  5. FSBO statistics in Rhode Island & accross the Country (NAR 2015)
    1. FSBOs accounted for 8% of home sales in 2015. 
    2. The typical FSBO home sold for $185,000 compared to $240,000 for agent-assisted home sales.
  6. Most difficult tasks for For Sale By Owners in RI
    1. Getting the right price: 18%
    2. Preparing/fixing up home for sale: 13%
    3. Understanding and performing paperwork: 12%
    4. Selling within the planned length of time: 3%
    5. Having enough time to devote to all aspects of the sale: 3%
  7. Where are the buyers?
    1. 88% of all buyers used a Realtor.
      1. That's nearly 9 out of 10 buyers 
  8. Why is FSBO an awful idea?
    1. Cutting yourself short with exposure. Less exposure means home sits longer and nets less.
    2. Buyers and Realtors avoid FSBO because of uncertainty. 
    3. When working with a buyer, Realtors will be forced to do both sides of the transaction without compensation. FSBO need step by step instruction to do the sale. 
    4. FSBO are negotiating against industry professionals. Who will win? Someone who does this 365 days per year for a dozen years or someone who is selling their home?
      1. Main reason why the typical FSBO listing sold 23% less than a Realtor listing!! That is $46,000 on a $200,000 home!!!! 
        1. $200,000 less Realtor commission of 6% = $188,000 ($34,000+)
(According to NAR 2015 statistics). 

Tuesday, September 26, 2017

Selling a home fast in Rhode Island

Selling a home fast in Rhode Island 

By Emilio DiSpirito Licensed Rhode Island Realtor

Homes that sell in the first 2 weeks on market sell at or above list price on average! This is a fact!!
So.. In order to take advantage of this market and sell a home fast and highest in price, here is what the experts say you need to do! 

  1. Select the best-qualified Realtor to sell your home!! Using a Realtor to sell your home will net you 12% more than selling For Sale By Owner and will allow a true real estate professional guide you through the process while you worry about where you are going and packing! 
    1. Learn how to find the best Realtor to sell your RI home
  2. Make sure to prepare your home properly!! 
    1. Pre-List Home Inspections are vital!! Fixing the red flags and items like peeling paint, busted heating system, mold or leaking pipes will allow buyers in various programs to obtain financing and will increase your bottom line. 
    2. Declutter, depersonalize and stage your home in order to sell it!! Buyers can't see past all your "stuff"!! Show off the room space at its biggest and best by taking the advice of a professional!
  3. Understand the market we are in today! Make sure you are educated so that you are making informed decisions! 
  4. Price your home to sell. Don't list your home to sit! 
    1. According to the National Association of Realtors, homes that are priced too high for this market will sit for 17 weeks or longer and will sell at 93% of what you could have got!! 
      1. Watch 3 Reasons that will allow your home to sell for LESS (avoid these)! 
    2. Going with the Realtor who "gives you the highest price" without any REAL market data to support that advice is a trap!! 
      1. Sometimes sellers throw a price out to leave room for "negotiations"; would you rather set yourself up to have 2 to 3 buyers offer their highest and best or would you rather sit and wait for the phantom buyer to only lower your sale price months in when the hype of your home is gone?
        1. If you are 100% stuck on not taking professional advice and doing it your way, go with the best-qualified agent and ask them to list at that price. Make sure to have a strategy in place to adjust the price after the first two weeks if the home has not gone pending or received high volumes of traffic. 
        2. How emotions limit your success when selling a home
    3. KEY TAKEAWAY! Remember the first 2 weeks are the best time to net the most!! All the traffic comes in this time period!! 

For any additional advice on selling a RI or MA property, contact Emilio DiSpirito 401-359-2338 or email to set a consultation.

Or visit for more information.