Rhode Island Real Estate Market News February 2016

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Builders are constructing homes that are designed for 3 generations! Parents, grandparents and the kids. In a recent survey by Burns Consulting of 20,000 home buyers, 44% said they desire a home to have space for their parents and children making a tri-generation home! If you have an in-law in your property, there are a number of families ready and willing to buy your property. When in good condition, your home may sell higher and faster than others to accommodate this growing number of families.
Foreign Investment Increases in Luxury Condominiums in NYC, Boston & Los Angeles and other major cities around the country due to New Federal Tax Guidelines for Real Estate Investment Trusts . Prices sour! Where is Rhode Island in all of this?! HELLO!!!!!! Instead of increasing taxes and scaring business away with these overreaching tolls why is the government here NOT MAKING IT EASY FOR INVESTORS TO CONSTRUCT in PROVIDENCE?! Sandwiched between NYC and Boston.. But hey... Tolls make more sense!!! STUPID!!!!!!
In Rhode Island there are 3,703 active Single Family Homes on the market! The inventory in a normal range is about 7,000 homes on the market. We have 48% less homes on market than should be.
Median home on market in RI is a 3 Bed 1400 sq. ft. home with 68 Days on Market and selling at 94% of original list price.
Median Home prices in RI have increased 4.4% since November 2015!! (Source MLS Nov 1 to 31 2015 and Feb 1 to 9 2016)

The Round Table - Real Estate Simplified with Top Realtor Emilio DiSpirito