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 www.MyDreamHomeNow.com/sell
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. www.MyDreamHomeNow.com/sell to schedule a fair market value assessment and marketing consultation today.
Watch the video here!
Tune Into the Podcast Below!
Click the picture above to listen to Rhode Island's Number 1 Real Estate News and Advice Show or visit www.TheRoundTableRadio.com
Information sourced from RI Association of Realtors Heat Map
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.
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 www.mydreamhomenow.com/sell or call Rhode Island & Massachusetts Realtor Emilio DiSpirito 401-359-2338 to set up a consultation.
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!
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!
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.
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!
Understand the market we are in today! Make sure you are educated so that you are making informed decisions!
Price your home to sell. Don't list your home to sit!
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!!
Going with the Realtor who "gives you the highest price" without any REAL market data to support that advice is a trap!!
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?
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.
The Zestimate is an algorithm designed by Zillow, a consumer real estate search portal, that was created to give homeowners and buyers automated valuations on real estate. Often times, you will see for sale by owner listings on Zillow with the exact same number as this computer generated amount.
I have to say, it is still in nearly all cases far from accurate. I do believe one-day technology will come to a point where online values will be more accurate. For the foreseeable future, this will not be a credible source.
There is ONLY one number that sellers should be concerned with and that is the appraised value of their home! An appraisal is the best measure of what a home is worth and is performed by a licensed appraiser who aside from pulling comparable recent solds in the local market, picks homes on dozens of other parameters such as condition, layout, amenities, specific location which includes lot and surroundings, finishes, etc.
When looking to list your home for sale, I do not recommend always hiring an appraiser. Appraisals, and rightfully so, can cost between $350 and $600 for most residential applications. Consulting with a Realtor who has extensive market knowledge and area sales is the absolute best practice for finding not only what your home is worth today, but your homes projected value and what it may sell for "tomorrow". Nearly all real estate agents will provide this as a complimentary service, in efforts to assist homeowners in exploring if now is the proper time to sell.
Other types of home valuations:
Assessed Value - Is the estimated home value of your property when compared to comparable sales in your municipality. This value is then multiplied by the "mil rate" in which the town sets in order to run many aspects of the town such as local government expenses, schools, libraries, police, fire, etc. Assessed value in a seller's market is often lower, as the values trail a year or 2 behind the market.
A great idea when having a Realtor price your property is to see where the median home sale is percentage wise of the median assessed value in your area!! It's a great way to cross-check your home's fair market value in many cases!!
Fair Market Value - Is the value set by the market. There is no argument to be had that comparable sales, local market conditions, overall home and site condition, as well as supply and demand, will set this value. Pricing your home at or just a hair above (1% to 3% depending on demand), will allow your property to sell in a faster timeframe as well as higher in price.
Properties that sit on the market will sell for less. Buyers either know its overpriced or begin to wonder what is wrong with the property.
"Here Say Pricing" - When a contractor, neighbor, friend that purchased a year ago or someone outside of the industry gives you unqualified information on housing prices. Do not base your decision on placing an offer on a home or price to list a home by what the mailman says. You will lose.
Sellers in Rhode Island & Massachusetts can click my website and a top local agent from my team will assist you in getting your homes fair market value. www.MyDreamHomeNow.com/sell
For more information, catch my show each Sunday at 10 am on Newsradio 920! www.TheRoundTableRadio.com
With over 93% of buyers searching for real estate are online, you need to make sure your home is front and center and grabs their interest! With such staggering numbers, when looking to sell a property in Rhode Island, you need an agent that understands how to market your property to the largest crowd.
There are very complex strategies that we put in place to ensure our clients selling a home in Rhode Island have a property that is seen more with us than any other agent.
Here are a few examples of our breathtaking professional 4k drone aerial videos and photos of real estate we have sold recently.
DRONE TECHNOLOGY WAS USED TO SHOWCASE AND TO SELL THIS BEAUTIFUL LAKEFRONT PROPERTY IN RHODE ISLAND.
UNIQUE PROPERTIES IN RHODE ISLAND ARE ALSO ONE OF OUR SPECIALTIES. THIS WAS A ONE OF A KIND HOME IN FOSTER RI. THE SELLERS CONTACTED THE DISPIRITO TEAM TO SHOW OFF NOT ONLY THE AMENITIES OF THE LAND, HOWEVER TO SHOWCASE THE CHARM THAT 9 SHIPEE SCHOOLHOUSE RD HAD TO OFFER.
HERE WE USED AERIAL PHOTOS AND VIDEO TO MARKET THE BAY SIDE COMMUNITIES IN RHODE ISLAND. WE HAVE LISTED AND SOLD SEVERAL HOMES ALONG THE COAST IN RHODE ISLAND AT RECORD TIME AND HIGHEST ABSOLUTE SALE PRICE.
WE ALWAYS USE DRONE VIDEO FOR OUR LUXURY REAL ESTATE LISTINGS IN NORTH KINGSTOWN, EAST GREENWICH, SOUTH KINGSTOWN, NARRAGANSET, JAMESTOWN, NORTH SMITHFIELD, CUMBERLAND, LINCOLN, EAST SIDE OF PROVIDENCE AND OTHER SOUGHT AFTER HIGH END RHODE ISLAND LUXURY MARKETS.
SHOWING OFF OUR NEW ENGLAND FALL COLORS NEAR THE OCEAN USING 4K AERIAL FOOTAGE!
WE NOW INCORPORATE DRONE FOOTAGE IN OUR EXCLUSIVE DISPIRITO TEAM AGENT GUIDED WALKTHROUGH TOURS!
INTERVIEW WITH ONE OF THE TOP DRONE FILM COMPANIES IN THE NORTHEAST!
Does drone technology help sell my home faster and higher in price? We believe that showcasing the unique attributes of a property and its landscapes appeal to buyers and peak their interest enough to ask for a showing. The more traffic, the more likely the property will sell for a higher price point.
What real estate agent in Rhode Island uses drone aerial video and photo? How do I contact an agent that will showcase my home with a drone? Emilio DiSpirito and The DiSpirto Team. Please contact them here http://emiliodispirito.com/#contact
By Emilio DiSpirito, Top Real Estate Agent in Rhode Island, Real Estate Blogger & Radio Show Host with the Real Estate Radio Network, Representing the Rhode Island Market.
This year, homeowners in towns & cities throughout Rhode Island have seen an increase in their real estate taxes. Many citizens are upset about the increase and this blog will be a transparent place for Rhode Islander's to see where we stand and where our tax dollars go! After a ton of research.. Cities and Towns in Rhode Island clearly do not tell you where your tax dollars go without a ton of digging. It's my goal to make Rhode Island real estate information obtainable in a quick and reasonable manner to our current and soon to be residents! :)
New Here? Stay in the know & subscribe to our YouTube channel to receive emails with all the latest real estate, legal & financial advice we guarantee you can use!
According to WalletHub.com, when ranking states from lowest to highest in tax rates, 1 being the lowest and 50 being the highest, Rhode Island currently ranks 42! At an average of 1.61% the properties value, taxes are assessed per $1,000 of the real estate value.
In example: A $176,000 home in Rhode Island holds a real estate tax of roughly $2829 per year which is nearly six times the amount of property tax for the same house ($489 per year) in Hawaii. Hawaii is the #1 best state for lowest property taxes in the United States.
So first off.. Why are our property taxes going up?! Politicians will tell you that the "good news" is the tax rate has not increased... However, the valuation of homes has. In an increased market, cities and towns are roughly one to two years behind in actual values on the way up and also on the way down. Thus why it's common you will see "assessments" lower than actual sales prices in an escalating market and higher in a falling market.
Rhode Island property taxes are due quarterly and are paid six months in arrears meaning after the taxes are owed. When you take out a mortgage with an escrow program, taxes are collected in your mortgage payment monthly and are then paid quarterly by your mortgage servicer. Much easier than having another bill to remember to pay. Real Estate property taxes are also tax deductible, as they should be.
So the biggest question is.. Where do our property taxes go? What do they fund? Well, not so surprisingly, the RI town and city governments are not so transparent on where the money goes... After much digging, we did not find a RI page that disclosed this but found on google mainly what property taxes cover the following:
ANIMAL CONTROL
LOCAL ROAD REPAIRS & SERVICES
POLICE DEPARTMENT
"SAFE" DRINKING WATER (what if you have a well... why should you pay for city water?)
TREATMENT OF SEWAGE (hmmm... what if you have a septic?? why are you paying this??)
Building Code Enforcement/Saftey
Fire Station
Community Centre Sewage
Emergency Planning
Heritage Planning / Zoning
Hope this information was useful to you! For further details and any real estate information, feel free to contact me direct: 401-359-2338 or Click Here
By Emilio DiSpirito Realtor/Team Leader/National Speaker & Radio Show Host
Before listing your home for sale and slapping a sign on your lawn.. It's important to understand the dynamics of this sellers market in 2016 in order to set yourself up for success..
Watch the video here! Call 401-359-2338 For Real Estate Advice!
So lets cut all the BS out and lets get straight to the point. Whether you use my team and I or any real estate agent, this advice is practical.
Emotionally detach yourself from your property
Take down personal items and pictures of the property, this will allow for buyers to see themselves in your property and not to feel as if its someone else home. This will allow you to have an easier time to disconnect from the property.
Understand your property has a fair market value and that buyers do not put a value on memories nor often times on your style of finishes.
Understand the market!! What is causing this sellers market in Rhode Island?
Lack of supply!
Only 3400 active homes on the market.. About 50% less than we should have
Increased Demand - You can't even pump gas without the media telling you to buy real estate!! You know those TV's at the pump!? So What else is causing this demand?
Overall stronger economy
Millennials are coming to the market with increased confidence and causing the secondary market to move which causes a chain effect on mid and higher end real estate to move.
Rent is nearly 30% higher than it was in 2009 and it's still more affordable to own than rent. You basic 3 bed apartment is around $1200 per month in Rhode Island compared to 2009 when it was $840
Terms - Lending guidelines have eased up allowing consumers with lower credit scores to purchase properties under a wider array of lending platforms.
Price your property appropriately
How do you figure this out?
Should you be selling? Do you have enough equity if you were to sell at market price?
How long do you have before you sell?
How high is the market anticipated to grow by the time you sell?
Understand that when a home sits for over 80 days on this market that buyers are beginning to question what is wrong with the property.
Don't price yourself out of the market. Listen to your real estate professional and don't list your property for sale at $250,000 when a home who is a direct comp is on the market at $225,000 and a direct comp of your home has recently sold at $215,000.
Understand that buyers are educated!! Buyers now have access to more information than ever and know an overpriced property when they see one.
When you go 2 weeks on market with zero showings you are most likley way over... You will want to look at market numbers to see where your home comps out and address the pricing.
Price your property to allow for a ton of traffic!! When you have a lot of traffic you create a hype around your property and the bids come in higher!! For example when you price a property with a fair market value of $250,000 at $250,000 you have a higher chance of selling it at or above list price than if you priced it at $260,000... That $10,000 increase will not allow for the property to draw the same traffic.
What is happening in your location?
Is your neighborhood over saturated with competition or is their a scarcity of homes?
Is your area desirable for your price range?
All questions that will determine your price point!
My prognosis is to ensure you are hiring a qualified professional. Put your trust in that professional and take their advice serious. Understand that the market dictates the price points and not your agent!
Contact me direct for a tailored solution for your real estate needs. Email me here!
Enter your email to get your instant home value report www.HomePrice411.com
Year to date, we have sold over 1/2 Billion Dollars in single family real estate here in Rhode Island. With roughly 1700 single family homes sold through March 2016!
With that said, the major question on everyone's mind is.. what price range is selling best? Should I jump into the market now where I have virtually zero competition and sell my home for the highest possible price right now?
Rhode Island Real Estate News - What are the 3 best selling price ranges in RI?
Coming In at:
Single Families priced between $200,000 and $249,999 make up the largest % of the market at 17% of overall transactions!! About 300 transactions through March out of all the transactions in RI. Thus meaning, if your home has a fair market value of $199,900... you may want to inch it up to $200,000 to take advantage of the largest market in Rhode Island.
Homes priced between $300,000 and $399,999! With approx 250 sales in total in the ocean state through march! This higher end price range takes a commanding lead of 14.40% of the entire market share.
Single Family homes priced between $250,000 & $299,900 take the bronze medal at 12.5% of real estate pricing market share in Rhode Island with about 225 sales through March 2016.
Honorable mentions:
$180,000 to $199,999 price point with 10.19% and 175 sales through March 2016
$160,000 to $179,999 with 7.76% of the entire market and 135 units sold.
$500,000 to $749,999 with 5.69% of entire market with 100 units sold
For an instant home value report www.TrustTheDove.SmartHomePrice.com
For an exact home value from a qualified and top producing real estate professional call 401-359-2338
With less distressed homes on market, home prices are able to continue to increase
GET YOUR FREE HOME SELLERS KIT AND FAIR MARKET VALUE ON YOUR HOME BY TEXTING "LIST TO SELL" TO 401-359-2338!
Where Do Realtors Anticipate the Real Estate Market to Go?
Many agents agree that the number of homes will increase if not double by summertime, making it a more competitive market.
Through 2016 we should see prices rise, however Spring will be the best time to sell a property with low inventory. Consumers may net more.
Market could level off and price increases to slow down in 2017
Mortgage rates will rise and the affordability factor may end up changing
Right now perfect buying and selling conditions - A total "win win"
As rates increase less strict lending guidelines will be in place, allowing a larger pool of qualified buyers to enter the market.
Boomerang Buyers will reenter the market. These are buyers who were once foreclosed on or went through the short sale process. They are back to work and or credit cleaned up and are going to be an estimated 2.3 Million Strong from now until 2021.
For continued coverage on this current real estate market, please follow our blog, LIKE the Round Table Real Estate Simplfied Facebook Page, visit us on www.TheRoundTableRadio.com to listed to all previous shows via video or podcast and tune in every Sunday at 10 am on iHeartradio WHJJ or Newsradio 920!!
For Immediate Assistance With Your Real Estate Anywhere in the United States, Contact Emilio DiSpirito 401-359-2338 to connect you with a local top Realtor.
WATCH THE VIDEO BLOG FEATURED ON IHEARTRADIO & REAL ESTATE RADIO NETWORK HERE! For the full list of 11 Items Buyers Focus Their Attention When Home Hunting - The Surefire Guide To Maximize your Net Profits As a Seller, TEXT "List to Sell" to 401-359-2338. If you prefer to call, give me a call! And I'll send you my tried and true guide that helps in my 3 part system allow my clients to sell their home in half the time on market and for 4% higher than the average home listed in Rhode Island!
GET THE FULL LIST OF 11 PLACES BUYERS FOCUS THEIR ATTENTION - A SUREFIRE CHEAT SHEET FOR SELLERS TO MAXIMIZE THEIR NET PROFITS WHEN SELLING!
Everyone knows the real estate market is great right now for buyers and sellers alike. Mortgage rates are still surprisingly low despite the majority of real estate professionals imagined they would of increased by now. Home inventory remains around 40%to 60% lower than normal ranges in nearly all Rhode Island communities... Now mix that with low mortgage rates you have a perfect recipe for increased home values!
With that said, tons of home owners are getting their properties ready to list to beat the spring market to hopefully take advantage of the market with such a historic lack of competition and large sums of ready and able buyers willing to pull the trigger! Equity positions in most cases are yielding high returns for those upgrading, downsizing or relocating.
I've created this short list of 5 Places Buyers Focus Their Attention When Home Hunting to give Sellers an Unfair Advantage Over Competing Homes on the Market. The list is actually 11 items long but because of time restraints on air we had to cut it down. To get the full list of 11 items please text me "LIST to SELL" at 401-359-2338 for a FREE guide on how to prepare your home for market and how to have an unfair advantage that my seller clients use to sell their home in half the time and 4% higher than the average home on the market in Rhode Island.
1.) The Drive Into Work: Not much you can do about someone's work location, however if your home is located within 10 minutes of the highway in Rhode Island, you are already in a good position. I ask every buyer that comes into my teams listings where they work to gauge how likely they are to purchase that specific home. The average Rhode Islander does not want to drive more than 20 minutes to and from work.
2.) First Impressions - AKA Curb Appeal: Most buyers want a low maintenance and welcoming exterior. In the winter months you can't really do much landscaping, however pay close attention to old cob webs at or around the door, replace that broken window or cracked piece of siding, chipping paint or shutter that is hanging off the house. Make sure all outdoor lighting is working and walkways are well lite and cleared of snow while being treated with ice melt to provide an easy entry.
3.) Spatial Organization: Today's buyers are looking for open spaced floor plans. Even modern offices take the approach of open spaced seating without cubical walls. People today like space with ease of synergism, a place where they can share conversation and moments now more than ever!! Buyers want that kitchen where they can prep and cook a meal while watching their children or guests in the living areas allowing easy conversation and the ability to entertain! So what do you do if your floor plan is chopped up and closed off?
A.) You make the space as neutral as possible.. Kind of a blank canvas.
B.) You hire a Space Planner like Kendra Chatterley with RISE Interiors to draw up potential floor plans incorporating the amenities.
C.) You have a contractor come into property and quote you on cost of renovation. Supply these numbers to buyers.
D.) Your agent understands and knows of financing that will allow buyers an extended amount of money to make these adjustments.
E.) You price your home accordingly to the cost of work that buyers will need to do to update property. You will need an experienced real estate agent to make this estimate for you.
4.) Number of Bathrooms: Buyers are looking mainly for homes with 1+ bath. Often the largest setback on even the most beautiful homes packed with a ton of amenities is having only 1 bathroom. People like their space separate and love to have a guest bath or bathroom for their children. You can in many cases add a half bath for $5000 or price the home properly. Do not use homes with 1+ bath as 'comparables' if your home in fact only has 1. That creepy bathroom in the basement that is half finished and not recorded with the town does not count!
5.) Updated Structure: Energy efficient design is key. Even if your home was built in 1950 your home can be pretty energy efficient. Having Replacement windows, proper installation and a newer roof helps with the overall desirability of your home.
For the full list of 11 Items Buyers Focus Their Attention When Home Hunting - The Surefire Guide To Maximize your Net Profits As a Seller, TEXT "List to Sell" to 401-359-2338. If you prefer to call, give me a call! And I'll send you my tried and true guide that helps in my 3 part system allow my clients to sell their home in half the time on market and for 4% higher than the average home listed in Rhode Island!
13,233 was the total number of combined real estate sales in Rhode Island for Single Family Homes, Multi Family Homes, Condominiums, Vacant Land
8% more properties were sold in Rhode Island 2015 over 2014 (12,168 total sales in 2014 for single family, multi family, condos, land)
Median Single Family Home in RI Sale Price in 2015 rose 5.5% over 2014
2014 SFM SP $214,900 8928 units sold vs. 2015 SFM SP $225,000 9738 units sold
Median Condo in RI Sale Price in 2015 rose 2.8% over 2014
2014 CND SP $195,000 1566 units sold vs 2015 CND SP $200,444 1643 units sold
Median Multi Family Home in Rhode Island Sold 13.8% higher in 2015 than in 2014!
2014 MFM SP $145,750 1335 units sold vs 2015 MFM SP $169,000 1510 units sold
342 pieces of land sold in 2015 vs 339 in 2014. Land sales remain steady.
In 2015 39.6% of all listings on MLS were either withdrawn or had expired under the agent that had the listing vs. 33.7% of total listings withdrawn in 2014
Many were relisted, prices adjusted, new marketing put in place and sold. The exact number is still undetermined.
Tune into The Round Table Real Estate Simplified each Sunday at 10 am on iHeartradio "whjj" and Newsradio 920! We are talking about the timley & balanced truths of the Real Estate Market with some of the best real estate professionals sharing their wisdom and incites right here in Rhode Island! For more information please visit: www.TheRoundTableRadio.com
All information was extracted from Statewide MLS 1/4/2016. Information deemed reliable but not guaranteed.
MAKE SURE TO SUBCRIBE TO OUR YOUTUBE PAGE FOR EXCLUSIVE SHORT & INFORMATIVE VIDEOS ON THE LATEST REAL ESTATE NEWS, TRENDS, ADVICE AND MORE!
The Round Table Radio Youtube Page - Please Subscribe
By Emilio DiSpirito, Realtor & National Real Estate Radio Show Host
www.emiliodispirito.com
One of the greatest generations of all times! The Baby Boomers!! Baby Boomers make up the second largest population out of all Americans (8 million less than the Millennials) with a whopping 75+ million members! That's right, as of 2016 Boomers are between the ages of 47 & 65 and control over 70% of the wealth in the United States!
Very shortly, the first wave of baby boomers will be ready to take advantage of full retirement and collect social security.
Last year 29 of my seller clients made up a part of this generation and 21 had relocated elsewhere because of the following reasons:
Rhode Island is 1 of only 13 states that tax Social Security income when retiring
According to Insure.com RI ranks #8 for the highest auto insurance premiums
WalletHub.com states RI ranks #51 as highest auto tax in country
WalletHub.com also ranks RI as #41 from 1 being lowest and 51 being highest in the USA for real estate taxes
Property taxes in Rhode Island overtime have showed some of the strongest continued growth throughout country
Cost of living according to mymove.com in Rhode Island is 10.4% higher than average when compared to the rest of the country
What I have to ask the lawmakers is this: Why? Why have you not found a solution to keep the wealthiest age group in America in Rhode Island?
Please leave your comments below!
If you enjoyed this blog, please tune into my show every Sunday at 10 am anywhere in the country on iHeartradio app "whjj" or locally in RI & MA on Newsradio 920! Visit www.TheRoundTableRadio.com for exclusive videos, podcasts (past show digital recordings), content and contact information for some of the states top real estate professionals.
Rhode Island Predicted to Have Number One Housing Market in Country in 2016
By Emilio DiSpirito
Whats your game plan? Were you preparing to sell? Tune into my radio show each Sunday at 10 am on iHeartradio "whjj" or Newsradio 920 to keep a pulse on the housing market here in Rhode Island. My team and I sell more real estate than 99% of all agents in Rhode Island and are the only real estate company to Guarantee the Highest Sale Price for your property, Guaranteed Best Marketing, Highest sale price & Service in Industry.
By Emilio DiSpirito, Realtor - Team Leader - Radio Show Host
www.EmilioDiSpirito.com
I understand first hand how hard it can be to leave a property in which you grew up or raised a family. Almost always when someone is selling, it's because the home they are in is no longer practical for their lifestyle. So you have to ask yourself.. do you stay in the over-sized hard to manage or finance home for nostalgia or do you move onto something that is more fitting and where you can enjoy your extra money & time?
Brings us to our next point.. Emotions...We all get them.. They cripple us and our bottom line when we incorporate them into the business of selling one of our best assets, our homes. Here is a short list of ways you can avoid the loss of thousands of dollars.
Gather information a head of time - When you can shift your mindset from where you are to where you want to be, you start to detach yourself from the property. *Contact an agent months before you are actually ready to list the home. Obtain vital information on market which will give you an overall picture of total time it may take to sell when you are ready. This allows you to be prepared.
Speak to your goals. Tell the agent your plans. Staying local or moving away? Often times when moving out of the state, your agent can guide you with a Realtor in the location you are going. We can vet the other agents for you so you know you are getting someone reputable and they can provide you with information on locations in which may interest you. When staying around town and downsizing or upsizing, it's important you speak with an agent about neighborhoods and what will suit your lifestyle most. Go by the FORD approach.. Family/Friends, Occupation, Recreation, Dreams. When finding an area to live, make sure it meets all your criteria of FORD.
Market Price will Net you Much More - We are not short of data now-a -days and we have proof that having your home sit on market in a sellers market for more than 17 weeks gets you only 93% of fair market value when sold. Buyers have access to more information than ever, and they know when a home is over priced. No one wants to pay $20,000 more for a like car in one lot, when they can go down the road and pay $20,000 less. Your over priced home is selling your neighbors while crippling your bottom line. Keep this in mind, If fair market price is $400,000 for your home and you price it at $450,000 because you want top dollar.. the house will sit. You may in the end net $372,000 instead of $388,000. That is a $16,000 difference and that number is real. We can go into why homes that sit get lower prices at a later time. When you price your home to market value and have it prepared, you may have a buyer frenzy and obtain higher than market value. We see this in Rhode Island more often than not.
You only have 1 first impression Make it Count - Higher a interior designer/home stager. They will make sure your home appears in show ready condition and will help you detach yourself from your home as well as net you a much higher price. If the first thing buyers see when walking into a home is wall paper and a 70's shag rug, immediately they think the home will need to much work and their mind is set. They will overlook often times overlook the fact that your home has a master suite or grand kitchen. Pull up the carpet, pay someone $300 to refurbish your hardwoods leading into the home. Take down the wall paper and have your interior designer pick a color pallet appropriate for the space and appealing to today's buyers.
Depersonalize - Take down all personal photos. Buyers need to connect to property and can not do so when they see your pics everywhere. Also if they see photos all over of lofty vacations, great restaurants, etc. they may decide that you have money and can afford a lower offer. Also keep in mind by packing up old photos you can start to disconnect yourself from the property.
Don't hang around - Nothing personal, but you will undoubtedly make buyers and agents feel extremely awkward if you wait "to see" who the buyers are and leave as buyers come in. Again, you only have 1 first impression and you want your buyers in a comfortable mindset.. not an awkward one. Reverse the roles. Keep in mind, the best way to see and meet the buyer is at the closing table. You can exchange stories there. In some rare cases sellers even ask to stay during open houses because they know house best. While they may know the house best, buyers will act standoffish and feel as if they can not speak out loud about concerns in fear that they will hurt your feelings and agents are not actors, they will feel like every word is being picked apart and will not act natural, in the end further making buyer uncomfortable. If you want to sell emotionally, sell with the buyers emotions in mind to net the highest price for your home.
Don't get insulted by low ball offers - No one wants to pay list price if they don't have to and if there are not multiple offers on the table, even when priced to market, don't be insulted when an offer comes in at $350,000 on $400,000. Recently I had this $399,900 home on the market at a perfect fair market value and received an offer. First offer came in at $360,000.. our sellers stayed cool and we countered offer at list price. We sat tight until our open house where a cash offer came in at $340,000. Now that we had multiple offers we were able to go back to both parties and explain multiple offers were on the table. We are now selling at 99% of list price with the buyers who lost the bid with a backup offer over list price.
For more great content check us out on www.TheRoundTableRadio.com or tune in every Sunday to Rhode Island's best real estate radio show "The Round Table Real Estate Simplified" at 10 am! Aired on Newsradio 920 and iHeartradio "whjj"!
Thanks for tuning in!! :)
Sincerely,
Emilio DiSpirito
401-359-2338
PS. You can instantly get your homes value here www.TrustTheDove.SmartHomePrice.com - Instant report and you can even tweak your homes online value which will reflect on over 2 dozen real estate websites!
By Emilio DiSpirito, Realtor The DiSpirito Team with HomeSmart Professionals & Radio Show Host of The Round Table Real Estate Simplified
Across the United States, scammers are hacking into consumer & Realtor email accounts, stealing information and thieving thousands of dollars at a wack from consumers!! Join Jessica Edgerton, Associate Counsel with National Association of Realtors and Emilio DiSpirito, Realtor with the DiSpirito Team & HomeSmart Professionals as they guide you through tips on how to safeguard yourself as a professional or consumer from these horrific cyber attacks!
To see more informational real estate videos check out www.TheRoundTableRadio.com/video
Tune in Every Sunday at 10 am EST on iHeartradio app "whjj"!
Random Advice: How long does it take for an egg to boil? It takes an egg approximately 10 minutes to boil, however keep in mind just because you shut the water off from boiling does not mean that the water is not still cooking the egg. Much like steak, an egg will continue to cook for some time. until you peel it and open it exposing it to the elements. Why the random advice? Why not?! Share your random advice in our comments section for a chance to be aired on our show on iHeartradio and Newsradio 920 every Sunday morning at 10 am!
.jpg)