Chet Szafranski

Two bedroomTwo bath condo for sale East Side Providence Corliss Landing

Please check out my new listing on the East Side of Providence. It is located minutes from Downtown Providence ,Wickenden Street, India Point Park, The Hot Club, Brown University and RISD. It is within walking distance to either downtown or the East Side as well as RISD and Brown University.One of the cities best resturants is right next door called AlFornos. If you like to exercise the bike trail is minutes away and you can ride 26 miles into beautiful Bristol RI.

This Two bedroomTwo bath condo for sale East Side Providence Corliss Landing offers earth friendly bamboo hardwoods throughout, 14 ft ceilings, exposed brick walls and original beams. Others features of this condo are a garage with 2 deeded spaces, elevators, laundry in units,central air, views of courtyard, large windows and skylight let lots of light in.It has 1184 sq ft of living area, 2 full baths which one has been completely remodeled, newer appliances and a professionally managed condo association by RIPAC. Its located on the third floor so no one is above you.

I am an animal lover and cats are welcomes in the condo. I will donate $200 to Providence Animal rescue league whenever someone buys a home with me. Search the MLS to see all my listings and all the listings in RI!

If you work in Boston the train station is five minutes away. Living in Providence a great alternative to living in Boston. Once again Providence overs great nightlife, art scene ,restaurants without the high prices of Boston. Please call me if have any questions about this condo or Providence in general.

Chet Szafranski

Virtual Homes Real Estate

(800)856-2479 Toll-Free

(888)884-0543 Fax

(401)837-2454 Cell

Chet.Szafranski@VirtualHomes.com

Servicing All of Rhode Island

Single family home sales for the 2nd quarter in Rhode Island are up 10.77% from last year. The median sales price increased 9.09% from $192,500 to $210,000. Average days on market decreased 17.82% from 101 DOM to 83 DOM. Even distressed sales decreased in 2010 from 746 in 2009 to 594 in 2010.

All in all it looks like the housing market in Rhode Island is improving and thats a good thing for all of us!

If you would like more information about the RI housing market please feel free to contact me.

Chet Szafranski

Virtual Homes Inc

401-837-2454

chet.szafranski@virtualhomes.com

I cant believe the great buys out there on homes. With the foreclosures,short sales, low interest rates and the $8000 tax credit to qualified buyers now is the time to purchase a home.I myself will be buying a few multi-families this year and renting them till the market comes back up and then sell and reinvest. To all those on the fench about buying the longer you wait the more oportunities you may miss! One of my clients just bought a three unit and is seeing a positive cah flow of $1000 per month. Just think if he buys 9 more?

I just sold my first HUD home. HUD stands for US Dept. of Housing and Urban development. http://www.hud.gov/homes/index.cfm It was a long and tedious process but my buyer got a great home for a great price.

The home was a foreclosure and the appraiser had to go by Federal guidelines. So we had to put railing up,remove some mold, turn the heat on and water and replace the boarded up windows. We did this once the lender gave us a commitment letter and was confident he could close once the work was completed.

The buyer had to pay for the work which was less than $5000 and even still is getting a nice home for the money. If anyone has any more questions about buying a foreclosure or HUD property please feel free to contact me.

Chet Szafranski

Keller Williams Realty

Chets@kw.com

When purchasing a foreclosure be sure to have a knowledgeable Realtor and loan officer working with you. If you are not paying cash and going with a FHA backed mortgage there are a few issues you will encounter.

First, the banks have the homes winterized which means the water and heat is shut off and the pipes have anti-freeze so they don't freeze. The buyer is responsible to have the home dewinterized in order to have the systems inspected.If the buyer chooses not to go through with the purchase they are responsible to have it re-winterized costing anywhere from $300-$500.

Bank owned properties are sold as is so buyers do a home inspection for thier own protection and either move forward with the purchase or get the deposit back providing its in the time frame the contract allows. There are 203K loans which allows you to buy the home and do the repairs needed to make it habitable. This a better option for a buyer who isnt doing the work themselves. Buying a foreclosure can be a great investment but just make sure you are working with professionals.