5 Renovations You Should Avoid and 5 Renovations You Should Take On for Your Home!

5 Renovations You Should Avoid and 5 Renovations You Should Take On for Your Home!

By Emilio DiSpirito

The DiSpirito Team

emiliodiv@gmail.com

401-359-2338

www.MyDreamHomeNow.com

Regardless if you are preparing your home to sell or not, your home one day will be hitting the market. It's at that time you will remember reading this article and you'll either thank it or curse it! 

Remodeling a home can be very exciting and costly in the initial approach, however, it will be most costly when you add any of the items from the "5 Lowest Return Renovations" list! 

Here are the top 5 Lowest Return REnovations You can Do in a Home:

(According to http://www.remodeling.hw.net/cost-vs-value/2018/)

1. Backyard patio
1. Average cost $57,147
2. Average resale value $24,889
3. Return on Investment 43.7%
2. Master Suite Addition 
1. Average cost $`130,432
2. Average resale value $67,947
3. Return on Investment 53.2%
3. Bathroom Addition
1. Average cost $47,715
2. Average resale value $26,990
3. Return on Investment 56.5%
4. Kitchen Remodel
1. Average cost $66,845
2. Average resale value $42,753
3. Return on Investment 64.3%
5. Bathroom Remodel 
1. Average cost $20,640
2. Average resale value $14,588
3. Return on Investment 71%

GET YOUR FREE HOME VALUE REPORT - PREPARED BY LOCAL TOP RI/MA REALTOR CLICK HERE

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Here are the 5 Best Items to Renovate in a Home for the Largest Return:

1. Garage Door Replacement
1. Average cost $3,474
2. Average resale value $3,446
3. Return on Investment 99.2%
2. Siding Replacement
1. Average cost $15,885
2. Average resale value $12,659
3. Return on Investment 80.2%
3. Manufactured Stone Veneer
1. Average cost $8,143
2. Average resale value $6,518
3. Return on Investment 80.2%
4. Minor Kitchen Remodel
1. Average cost $22,407
2. Average resale value $17,091
3. Return on Investment 76.1%
5. Vinyl Replacement Windows
1. Average cost $16,213
2. Average resale value $12,152
3. Return on Investment 75%

GET ADVICE SPECIFIC TO YOUR HOME AND MARKET. CONNECT WITH A TOP REALTOR HERE www.MyDreamHomeNow.com/sell

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

www.TheRoundTableRadio.com 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 www.MyDreamHomeNow.com/sell

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. 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

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 

www.TheRoundTableRadio.com

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 www.mydreamhomenow.com/sell or call Rhode Island & Massachusetts Realtor Emilio DiSpirito 401-359-2338 to set up a consultation. 

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 emiliodiv@gmail.com.

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

Automated Home Values, Assessed Value, Fair Market Values and Appraisals... Which One Matters?

Zestimates and automated valuations, are they accurate?

By Emilio DiSpirito
401-359-2338 Top Rhode Island Realtor

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

Tips for Home Buyers to Win in this Seller's Market

Tips for Home Buyers to Win in this Seller's Market!

By Emilio DiSpirito - Top Rhode Island Realtor & Radio Show Host of The Round Table Real estate Simplified. www.MyDreamHomeNow.com

First off, it's important to know exactly what kind of housing market you are entering. We can't avoid the fact that supply and demand play a part in the cost of any product or service available to consumers, from gas prices to the cost of paper, products and services will always change.

We are in a historic sellers market right now, in Rhode Island and across the country. There are only approximately 30% of what we should have for homes on the market right now!! Let me rephrase that; We have about 2400 active homes available for buyers and normally we should have about 7500. Supply is very low. So how about demand? Demand is higher than ever. In 2016 the most homes ever sold on record in Rhode Island!! About 11,050 homes sold in RI last year alone!! That's about 40% more home sales than the bottom of the market!! What is causing the demand? Low interest rates, improved economy, government deregulation and easier stipulations on qualifying for funding.

It's not uncommon today to see homes sell within the first day or first couple of weeks on market when they are priced for the market. These homes many times have multiple bids on them from buyers with competitive offers! Home prices across the board are up around 7% over 2015 and we anticipate them to continue to climb in the Ocean State.

With all of that said, the best sellers market in history, near-all-time-low interest rates and more buyers fighting against you for homes than ever.. How do you find a home? How do you win as a buyer in this real estate market?! Here are some surefire tips from leading industry professionals:

• Have Realistic Expectations! By understanding the market and knowing the days of bidding low and expecting to haggle are in the past. The only time you have a shot at bidding low is when a home is overpriced and has been sitting on the market for over 90 days. 
• Access the Public Portal of MLS. You will need a Realtor for this. Basically consumer sites like Zillow and Trulia lag and can keep you in the dark sometimes days after a home actually hits the market. You see these sites feed off Realtor software and they do not update regularly. By the time something is listed and hits those sites, you may of already lost out. 
• Have your mortgage pre-approval or proof of funds in hand before you set foot into a property. Quick Video - 6 Reasons Why Buyers Must Be Pre Approved
• Consult with your Realtor for mortgage broker or bank recommendations. We can refer someone to you if you wish.
• Check out the power of Upfront Underwriting! This is the best way to compete against cash buyers!! 
• Have your agent find out exactly what sellers need!
• What "pains" can you take away from sellers? How fast or slow do they want to close? Do sellers have a place to go? 
• Placing a closing date that best fits sellers needs will give you an edge! 

• Understanding how to win bid wars!! 
• 100% necessary to have an experienced Realtor! There are roughly 183 steps in the process of buying a home, never-mind the fact that you need someone who has had success wining bid wars in the past like the best attorneys win the most impossible cases!
• Place odd pricing, $200,000 list - For example you can bid $201,753 when going against multiple buyers. There have been times where my buyers have won a home by $53. 
• Give competitive terms!! 
• Offer 5 business days for home inspections vs. 10 business days! 
• In RI, a buyer can walk away for any reason including cold feet within the first 10 business days!! Smart sellers know this and you can limit their exposure and make them feel warm and fuzzy by lowering their risk. 
• Waive the lead inspection if home does not have chipping paint or is newer than 1978. (Do this at your own risk. Here is a link for information on how lead paint is harmful and some precautions, etc. Please read and educate yourself before you make any decisions Click Here )
• Offer a faster Mortgage Approval Deadline! Depending on which bank, mortgage broker or program you are using, you may be able to do this! Speak with your mortgage professional and ask them what is the fastest they can get your loan approved!
• Know that you may be able to extend this later on if you absolutely must!! 
• Many Realtors put between 30 and 45 days here
• I've seen banks approved people in as little as 7 to 14 days!
• This leaves sellers feeling secure that you are a solid buyer when comparing your offer to others. 

WANT TO LEARN MORE? 

All information deemed reliable & not guaranteed. For assistance, please seek professional advice. Emilio DiSpirito is a licensed Rhode Island Realtor & can answer any questions or refer you to a local top producing agent in your area by clicking here.

Read 6 Reasons Why NOT to Hire a Realtor

3 Things Homeowners Need to Know About North Kingstown Housing Market

3 Things Homeowners Need to Know About North Kingstown Housing Market 

By Emilio DiSpirito - Nationally Ranked Top Real Estate Professional & Realtor. 

Contact us for questions http://www.mydreamhomenow.com/contact/

• Lowest real estate inventory in North Kingstown on record!

1. About 104% less homes on the market in North Kingstown in 2017 vs. 2016!
1. That is only 139 Homes for Sale! Vs. 284 Homes this time last year available for sale!
2. Less homes for sale will equate to higher real estate values due to supply and demand in the marketplace. 
1. Imagine listing your home for sale with zero to limited competition? What will the results be when there are buyers looking in your neighborhood and they only have your home or a limited number of others to choose from? 
2. Now imagine listing your home in a more competitive market where buyers have more inventory to chose from. What happens then? 

• What are the Assessed Home Values in North Kingstown vs. List Price?

1. Currently a 31% difference on the median assessed home value vs. list price.
1. What does that mean? If your home is assessed at $300,000, you may be looking at a list price depending on location & condition of $393,000. 

• Historic Sales Price Trends in North Kingstown Rhode Island

1. Median home sale in 2016 was $252,000 now in 2017 the median home sale in North Kingstown is $315,000. 
1. Roughly a 25% increase in median home sale prices
2. Qualified home buyers are more plentiful than homes available for sale!

To schedule a professional real estate conslutation Call Emilio DiSpirito 401-359-2338. 

Tune into our radio show each Sunday at 10 am streaming nationally on iHeartradio app WHJJ and Newsradio 920! Or visit www.TheRoundTableRadio.com for videos and podcasts of past segments! 

Rhode Island Housing Market News and Data September 2016

Rhode Island Housing Market News and Data September 2016

By Emilio DiSpirito - Radio Show Host of The Round Table Real Estate Simplified

Chart from RILiving.com

According to the Rhode Island Association of Realtors, single-family home sales are up 10.2% this year over last year between July and September, shattering all real estate records. Median sale price increased to $245,000 which is up about 4.5% over quarter 3, 2015! Some neighborhoods and areas have seen double-digit price increases. 

To Shop for your next home www.MyDreamHomeNow.com

To Obtain Your Homes Fair Market Value - Click http://www.emiliodispirito.boldleads.com/

Are Foreclosures Still Effecting Rhode Island Real Estate?

Are Foreclosures Still Effecting Rhode Island Real Estate?
By Emilio DiSpirito Realtor/ Real Estate Consultant / Radio Show Host

The housing market has seen its best year in sales numbers since 1986!! With that said, are there still foreclosures out there? If so, how many? You may be surprised at these statistics.

There are always going to be people & families all around us that are going through the struggle.. my family did.. I personally did.. you are probably looking over at the person next to you with a quiet smile thinking about more turbulent times in your life or maybe you or someone close to you is going through them right now!! Listen up, because we are not only going to talk stats, but also options out!

According to RealtyTrac.com:

• 1 out of every 1573 homes in Rhode Island is a foreclosure on average. 
• According to US Census Bureau there are 462,578 housing units for our 1,056,028 citizens in Rhode Island. 
• Meaning if their stats are right on RealtyTrac, there are approximately 294 active foreclosures on the market
• According to the Multi Listing Service aka MLS, where Realtors add properties on the market, there are 195 Active Foreclosure Listings and 366 pending! In retrospect, when you add up all of the Non Foreclosure listings in RI for Condos, Multi Families and Single Family housing we get a total of 7,891 total pending and active and 561 total pending and active foreclosures, thus making 14% of the current real estate market here in Rhode Island, foreclosures.

Here is a list of how many homes per county in Rhode Island are foreclosed homes

In the grand scheme of things, there are less than 1% of homes in the United States who are in foreclosure which represents a healthy and stable market compared to that of 2010 when 26% of all homes in the US were going through the foreclosure process!

What are the top 12 States in the US for foreclosures?  Click here to see the list! 

Now that brings us to our next topic on the topic!

Click here to read our blog on how to avoid foreclosures!

Easily obtain your homes value! You may have enough equity or we may be able to get a cash buyer for you to get out clean!! Call 401-359-2338 or www.HomePrice411.com to see!

Real Estate Property Taxes, Where Do They Go and What do They Do?

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! :) 

How to save money on property taxes!  

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

What are the 3 Hottest Selling Price Ranges in Rhode Island?

What are the 3 Hottest Selling Price Ranges in Rhode Island?

By Rhode Island Realtor Emilio DiSpirito

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:

1. 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. 
2. 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. 
3. 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

6 Reasons Buyer Representation Will Benefit You When Buying Real Estate in This Market

6 Reasons Buyer Representation Will Benefit You When Buying Real Estate in This Market

By Emilio DiSpirito, Realtor, Team Leader, Radio Show Host of The Round Table Real Estate Simplified 

SUBSCRIBE TO OUR YOUTUBE CHANNEL FOR ALL THE LATEST HOME LISTINGS AND REAL ESTATE INFORMATIONAL VIDEOS!

Real Estate Advice: 6 Reasons Buyer Representation WILL Benefit You in Today's Real Estate Market

It's no secret that it's a pure sellers market in Rhode Island and a majority of the United States! Homes are selling as soon as they hit the market & prices are on the steady rise! Housing inventory in Rhode Island remains to be about 56% lower than a normal market. There are only 3088 homes on the market right now as opposed to 7,000+ being a healthy inventory. 

So why are there so many buyers out there? You probably guessed it!! Interest rates are still extremely favorable at around 4%. Not bad when you consider the average 40 year rate is about 8.9%. With rates being low and home prices still a stretch in many areas from where they were in 2005 and rent being 29% higher than it was in 2009... Home ownership is now more affordable and desirable to all age groups vs. renting. ( So what exactly is happening in the Rhode Island real estate market?)

Ok, so lets recap:

• Housing Prices Are Up
• Inventory is scarce
• Bid Wars are Commonplace on turnkey properties
• There are over 183 Steps in the buying process

With everything working against you as the buyer... Why would you decide to NOT have an Exclusive Buyer Representation with a real estate professional? Here is WHY YOU NEED THIS!

1. No up front costs to have many Realtors represent you as a buyer
2. Overall knowledge of inventory right when or before listings hit the market!
1. We suggest you link up with a listing heavy team so that you will know as soon as homes hit the market and sometimes you can get to be the first ones in the door!! 
3. Your Exclusive Buyers Representative Must do everything to protect you & your interests! 
4. Your Realtor can show you every home available on the market regardless of which agency has it listed or despite if it's For Sale By Owner. 
5. Your Exclusive Buyers Rep will negotaite a transaction for you! 
1. Realtors have access to ALL the data and COMPARABLE SALES!! 
6. Your Buyers Agent will connect you with reputable mortgage companies, home inspectors, closing and title companies, contractors and a long list of professionals you may need through the process!!

For a successful buying transaction in real estate, make sure you connect with a top real estate professional in Rhode Island today!! 

Happy Hunting!!

CHECK OUT THE TOP 5 PLACES IN RHODE ISLAND TO BUY REAL ESTATE AND TO SELL REAL ESTATE! 

Emilio DiSpirito

Realtor - RI LICENSE S35582

401-359-2338

See all available homes online here www.MyDreamHomeNow.com

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Top 5 Best Places to Sell Real Estate / Top 5 Best Places To Buy Real Estate In Rhode Island

Top 5 Best Places to Sell Real Estate / Top 5 Best Places To Buy Real Estate In Rhode Island

When we break down zip codes in all 39 municipalities, which are the top 5 best zip codes in Rhode Island to sell a property? Which are the best top 5 zip codes to buy a property?

This list is comprised of the top 5 zip codes with the least amount of inventory. The less competition you have on the market, the likely hood of higher offers. If you want to know your homes value call 401-359-2338 today to speak with Top Real Estate Agent Emilio DiSpirito.

1. 02833 - Hopkinton Rhode Island Takes the top with only 34 active single family homes on the market and 16 pending homes. Basically half of the entire inventory of homes for sale in Hopkinton are pending!! Hopkinton has a 1 to 2 month supply of inventory. In other words if 2 months went by and nothing new hit the market there would be nothing left to sell!! 
2. 02886, 02888, 02889 - Warwick Rhode Island, anticipated by Fourtune Magazine and Realtor.com late in 2015 to be the number 1 real estate market in the country!!! So far it has lived up to it's expectations! Everything listed around fair market value is selling!! So get this, Warwick RI has 242 homes on the market and 252 homes are pending!! Homes are selling in an average of 60 to 90 days!! There are more pending homes in Warwick than active!! 
3. 02920, 02910 Cranston Rhode Island with the exeption of Western Cranston is the #3 pick on the list!! Like Warwick, you can get an amazing house at a very good value. Many people are finding it a wonderful place to live and grow a family! Easy highway access and close to everything. There are only 166 active homes for sale right now in 02920 and 02910 and 158 pending. So out of 324 homes with signs on the front lawn, about 50% are pending!! Homes are selling in an average of about 70 days on market in these Cranston zip codes! 
4. 02838 - Manville Rhode Island. Abutting North Smithfield and Woonsocket, this Lincoln village has only 2 single family homes on the market!!! 3 Pending!!! There is only a 60 day supply!! Having zero compeition on the market is the best time to command a higher price!! This is as good as it gets for a sellers market!!! Buyers are out there looking for Lincoln schools!! Call 401-359-2338 for a free assessment of your property today!! 
5. 02864 Cumberland Rhode Island clearly is a sellers market!! With only 3 months of inventory available, homes are selling fast and highest in price since the early 2000's! The average property in Cumberland is 151% higher than the Rhode Island approximate average of $235,000! 85 homes active on the market and 68 pending homes with about 3 months of inventory is easy to see why Cumberland is one of the best places in Rhode Island to sell!!
6. HONORABLE MENTIONS!! 02896, 02830, 02858, 02865,02814, 02816, 02857, 02904, 02812, 02898 all seller markets here in Rhode Island
7. To get an instant and free idea of what your property could list and sell for please click www.TrustTheDove.SmartHomePrice.com or call 401-359-2338 to schedule a real estate consultation with Emilio DiSpirito

This is the top 5 BEST places to Buy right now in Rhode Island!! 

1. 02807 Block Island with a 41 months supply of homes on the market, it's an extreme buyers market!! If you are in the market for a vacation home over 2 million ;)! 
2. 02858 Oakland area of Burrillville Rhode Island has a 12 months supply of homes on the market. 
3. 02837 Little Compton has a 10+ month supply of homes on the market. Picturesque scenery and a safe place to call home do make it a desirable place to raise a family! 
4. 02835 Jamestown Rhode Island has a solid 9 months of inventory on the market. This is a more seasonal market and you will see this start to drop in the coming months to be one of the hottest luxury markets in Rhode Island. 
5. 02825 Foster Rhode Island, one of the most pristine pieces of land on this rock we call Rhode Island! Foster is one of the best places in my estimation to purchase a property and has a 7+ month supply of homes on the market! 

WHAT EXACTLY IS HAPPENING IN THE RHODE ISLAND REAL ESTATE MARKET IN LAYMAN'S TERMS MARCH 2016

WHAT EXACTLY IS HAPPENING IN THE RHODE ISLAND REAL ESTATE MARKET in LAYMAN'S TERMS MARCH 2016

By Emilio DiSpirito, Realtor/Team Leader of The DiSpirito Team with HomeSmart Professionals RI License S35582 Cell Phone 401-359-2338 email emilio@mydreamhomenow.com 501 Centerville Rd Warwick RI 02886

The Rhode Island market has never been this busy in a February. Why?

• Favorable weather
• Fixed 15 & 30 year Mortgage rates descended again
• Overall Affordability vs. Renting
• Programs like the Renewed Homes $20,000 Grant, 100% financing and banks easing on lending guidelines
• Boomerang Buyers are coming back to the market after loosing homes to shortsale or foreclosure years back

TO SEARCH ALL ACTIVE LISTINGS ON THE RHODE ISLAND MLS VISIT WWW.MYDREAMHOMENOW.COM

Single & Multi Family Home Prices Have Seen Highest Value Gains Since Recession. Why?

• Single Family Home Prices have increased in many areas 10% in 2016 over 2015
• Single Family Home Sales are up 2% over last year
• Multi-Family Home Prices are up over 10% across the state
• Multi-Family Home Sales are up 16% over 2015
• Only 2975 Single Family Homes Active on the market
• A balanced market would have 7,000+ active homes
• We are 57.5% Low on Housing Inventory! 
• Low Supply & High Buyer Demand Has & Will Increase Prices!
• Click Here to See Heat Map of Inventory in RI
• Distressed Single Family Homes on Market are -34%
• Distressed Multi Family Homes on Market are -22%
• 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.  

2015 Final Rhode Island Real Estate Market Statistics

2015 Final Rhode Island Real Estate Market Statistics

By Emilio DiSpirito, Top Realtor Licensed Rhode Island Real Estate Agent #S35582

The DiSpirito Team - HomeSmart Professionals - 501 Centerville Rd Warwick RI 02886

 Emiliodiv@gmail.com - 401-359-2338

EVERYONE KNOWS THE REAL ESTATE MARKET DID WELL IN 2015... HOW WELL?

Rhode Island Home of The Best Coastline in America

Quick RI Real Estate 2015 Facts:

• 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.
• Rhode Island is predicted by industry leaders to be the #1 Housing Market in America in 2016! 

Emilio DiSpirito, Host, The Round Table

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.

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Why Baby Boomers are Leaving Rhode Island

Why Baby Boomers are Leaving Rhode Island

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 
• Visit this link for a list of all municipal tax rates Tax Rates by City & Town in Rhode Island
• 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.