Jorge Muralles Newport RI Real Estate Market

Newport Real Estate - Local market update - what is up with market?

04-08-11

Newport Real Estate - Services for today's world - Servicing the entire Rhode Island market!!

What is up with the real estate market? Local Update!!

Well, it is that time of the year again, the weather is finally getting nice and it looks like we are going to have a very busy season.

There are a lot of good news, and as always, there are also some bad news. Some of the good news are that unemployment continues to drop, this should help the local economy in the recovery process.

One of the good things of being a coastal state is the tourism industry, and as the prices of gas and traveling in general continue to increase, we will see more customers from affluent states like New York and Connecticut interested in this market, after all, water front property is still affordable in RI.

At Newport Real Estate we are keeping a close eye in the market; specially the pre-foreclosure and foreclosure market. We have found that those looking for great deals, will find them in this segment.

Click the links below to see the list of short sales and foreclosures available in Newport, Middletown and Portsmouth. If you are interested in a list of these types of properties in any other Rhode Island town or city, just give a call of fill out our inquiry form.

Real Estate Inquiry Form

Short Sales - Middletown, Newport & Portsmouth

Single Family

Multifamily Homes

Condominiums

Bank Owned Houses - Middletown, Newport & Portsmouth

Single Family

Multifamily Homes

Condominiums

REO's: These are properties that have been foreclosed, very good deals can be had in this segment of the market, however it is very competitive, often it requires to have cash readily available to close in short notice, and it also requires that the buyer knows what he is buying and what he would need to do to get these properties ready to rent or sell in the near future. Some investors buy this properties at a discount, if the properties need work or improvements, they do what is needed, then, they rent them and sell them at a profit.

Interested in Buying a REO?

call today

401-855-1335

or visit our website:

Buying REO's

At Newport Real Estate we are looking for folks who need help, if you or anyone you know is having trouble affording their mortgage or facing foreclosure, there are options, and we can help. Call for a free consultation, or visit our web site for more information.

RIRealEstateBuyers.com

Take your real estate search to a new level, click the link below to get started

Click Here for more information

We have helped many property owners before and would love to help you as well. We have real estate consultants with knowledge of the local real estate market. We have bilingual real estate agents, Spanish and English and can provide services in the following areas:

Areas of Expertise

1.) First time buyers

2.) Real Estate investors

3.) Short Sales

4.) Pre foreclosures

5.) Commercial Real Estate sales & rentals

6.) Residential Real Estate Sales & rentals

7.) Real Estate Rentals

8.) Newport timeshares sales & Rentals

9.) Foreclosure prevention

10.) RI real estate market

11.) Newport RI real estate market

12.) Relocation Services

13.) Corporate services: BPO's, asset management, REO management.

Real Estate Sellers Web Page

Real Estate Buyers Web Page

Jorge E. Muralles
Team Leader
Newport Asset Management Group
1 Commercial Wharf Suite B1
Newport RI 02840

401-855-1335

Click Here for more Information

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Understanding Real Estate Sellers - Short Sales, Foreclosures and private seller

01-30-11

Jorge Muralles Newport RI Real Estate Market

Newport Real Estate - Services for today's world - Servicing the entire Rhode Island market!!

Understanding Real Estate Sellers - Short Sales, Foreclosures and private seller

The real estate market will continue to present us with incredible opportunities in the next several months; there are a lot good news and bad news, the good news are really for investors, first time buyers, actually, for anyone looking to buy real estate, either as an investment or as a primary residence.

Unfortunately, investing in real estate, is not different than investing in anything else, the better business opportunities will always go to savvy buyers, who are always looking for these deals. None cant just get up one morning and decide, I want to be a real estate investor, it takes more that that, it is necessary to have a good understanding of the underlying variables that determine the state of real estate market.

In this market, more than any others, it is very powerful to have cash available to close business transactions in short notice, many good real estate deals go to investors who are willing to pay cash, close quickly and buy properties in as is condition.

It is very important to understand who the real estate seller is, pretty much there are 3 kinds of sales and sellers, we will look at them next:

Private Sellers: This are the folks who owned property and are trying to sell but do not really have to sell, they would like to sell their property for a competitive price, usually these folks have small mortgages or no mortgages, they have equity in their homes, they might be trying to sell right now, but can wait until the market improves and prices become more stable or start going up again. Sometimes, these seller are not very negotiable, sometimes, they understand the current situation and are willing to sell at prices competitive with other properties, including short sales and REO's.

These properties are usually good for first time buyers, they are easier to finance, most of the times, everything is in working order, and if it is not, the buyer can request that the seller fixes anything as needed prior to closing.

Interested in Selling Real Estate
call today

401-855-1335

or visit our website:

ripropertyvalues.com

Short Sales: Sometimes, property owners fall behind in their mortgages, the bank that gave these owners the loan to buy the property have a couple of options, one of them is to foreclose, another is for the owner to return the deed and keys, and yet another is to sell the property at a lost, forgive the current owner the difference between the sale and the current mortgage and move forward. This is called a short sale, it is almost the same as buying an REO, the only difference is that this properties are usually in habitable conditions, often, the owners are still living there and keeping up with the property.

Interested in Buying a Short Sale?
Interested in selling a short sale?

call today

401-855-1335

or visit our website:

Save my House

Interested in Buying a REO?

call today

401-855-1335

or visit our website:

Buying REO's

Take your real estate search to a new level, click the link below to get started

Click Here for more information

Real Estate Sellers Web Page

Real Estate Buyers Web Page

Jorge E. Muralles
Team Leader
Newport Asset Management Group
1 Commercial Wharf Suite B1
Newport RI 02840

401-855-1335

Click Here for more Information

2 Comments

Rhode Island - Real Estate Investment opportunities - Short Sales, foreclosures (REO's) and local listings available.

01-25-11

Jorge Muralles Newport RI Real Estate Market

Newport Real Estate - Services for today's world - Servicing the entire Rhode Island market!!

Rhode Island - Real Estate Investment opportunities - Short Sales, foreclosures (REO's) and local listings available.

The local real estate market has continue to improve, it has become more stable and at Newport Real Estate we think is time to buy.

Investing in real estate is becoming more and more complex, with all the information available out there, stories of investors making quick money, and endless offers is difficult to know who to believe.

The truth is that there are incredible opportunities out there, and while not all opportunities are for everyone, it is important to know what the options are.

The local real estate market continues to be driven by investors who continue to acquire very good properties for good prices, usually below market value, but it has become harder to be able to buy these deals.

If you are an investor, it s very important to have a local agent working for you, someone who understands the local market, and more important someone who is knowledgeable of the different segments of market, such as foreclosures and short sales.

Basically, there are three kinds of sellers; private seller, Banks; which could fall into different kinds, including private and institutional, and private seller that need to be approved by a third party, this last ones are usually know as short sellers.

Our job consist of two different tasks; identify the properties and negotiate the best terms for all parties involved.

We have found out that because the market is very competitive, the best place to find good deals is in the foreclosure market and the pre-foreclosure market.

The foreclosure market is made up of those properties that have already been taken by the lien holder, the goal of the banks, after foreclosing on a property is to sell it as soon as possible, therefore, these properties are price very aggressively and normally, they usually sell under 30 days or less.

The pre-foreclosure market, or short sales is usually the segment where the average buyer can get the better deals, it is almost the same as buying the property from the lien holder, the only difference is that has to be approved by what the banks called the Lost Mitigation Department; this process usually takes a long time, it could take up to 6 months, but it usually is worth the wait, the buyer ends up getting a good property for a good price, and the owners avoid foreclosure.

I have prepared the following report as courtesy to you to help you get familiar with the short sales and REO listings available in Aquidneck Island. (Newport, Middletown and Portsmouth)

Middletown, Newport and Portsmouth - Available Short Sales

Single Family Homes

Condominiums

Multifamily Homes

Middletown, Newport and Portsmouth - Available REO's (Bank Owned Properties)

Single Family Homes

Condominiums

Multifamily Homes (0)

Take your real estate search to a new level, click the link below to get started

Click Here for more information

Real Estate Sellers Web Page

Real Estate Buyers Web Page

Jorge E. Muralles
Team Leader
Newport Asset Management Group
1 Commercial Wharf Suite B1
Newport RI 02840

401-855-1335

Click Here for more Information

1 Comment

Rhode Island Real Estate end of the year market update

12-17-09

Jorge Muralles Newport RI Real Estate Market

Rhode Island Real Estate end of the year market update

First all, let me wish happy holidays to everyone, it has been another great year, challenging to say the least, but here we are again, getting ready for 2010.

There are a lot of things to be optimistic about, the tax buyers to home buyers has been extended, first time buyers now qualify for $8,000 and buyers, repeat buyers and move up buyers also qualify for $6,500 tax credit, these tax credits should continue to stimulate the real estate market. Hopefully, as the inventory start to decrease, the price will stabilize; still prices will bring more buyers to the market and values might start to recover.

Click the link below to read more about the home buyer credit:

Home Buyer credit more information

Of course, more has to happen, the state of RI now has the second unemployment rate in the nation; which is causing a big problem, many people are facing foreclosure and this will continue until more employment is available.

For us a Newport Real Estate, it has been a challenging year but we have acquired the education needed to help people with today's situations; we can help our customers negotiating short sales, doing loan modifications and mitigating lost in the whole real estate process.

Feel free to call us with questions or feed back, also visit our websites below for more information and resources.

Follow Our Google Blog

Real Estate Buyer Guide

Real Estate Seller Guide

Click Here for more information

Real Estate services for today's market: We can help you with all your real estate needs, from buying, selling, or renting to avoiding foreclosure, we do it all. Call us with any questions.

We have bilingual real estate agents: English and Spanish

Jorge Muralles
401-855-1335
jorge@locopro.com

Newport Real Estate

1 Commercial Wharf # B1 , Newport, RI 02840
direct: 401-855-1335
cell: 401-855-1335
jorge@locopro.com
www.locopro.com

1 Comment

First time buyer credit extended and expanded until April 30th. 2010

11-07-09

Jorge Muralles Newport RI Real Estate Market

Newport Real Estate - Services for today's world - Servicing the entire Rhode Island market!!

Good news for everyone, the United States Congress has approve new legislation that extends the $8.000 first time buyer credit until April 30th. The new legislation also expands the credit to buyers purchasing a home before April 30th. 2010, this credit is in the amount of $6,500 .

Bringing the Dream of Homeownership Within Reach

As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed new legislation that:

Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010.
Expands the credit to grant up to $6,500 credit to current home owners purchasing a new or existing home between November 7, 2009 and April 30, 2010.

Here is more information about how the Extended Home Buyer Tax Credit can help prospective home buyers become part of the American dream.

Who Qualifies for the Extended Credit?

First-time home buyers who purchase homes between November 7, 2009 and April 30, 2010.
Current home owners purchasing a home between November 7, 2009 and April 30, 2010, who have used the home being sold or vacated as a principal residence for five consecutive years within the last eight.

To qualify as a "first-time home buyer" the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.

If you or your client purchased a home between January 1, 2009 and November 6, 2009, please see: 2009 First-Time Home Buyer Tax Credit.

Which Properties Are Eligible?

The Extended Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops.

How Much Is Available?

The maximum allowable credit for first-time home buyers is $8,000.

The maximum allowable credit for current homeowners is $6,500.

How is a Buyer's Credit Amount Determined?

Each home buyer's tax credit is determined by tow additional factors:

The price of the home.
The buyer's income.

Price

Under the Extended Home Buyer Tax Credit, credit may only be awarded on homes purchased for $800,000 or less.

Buyer Income

Under the Extended Home Buyer Tax Credit, which is effective on November 7, 2009, single buyers with incomes up to $125,000 and married couples with incomes up to $225,000-may receive the maximum tax credit.

These income limits have changed from the 2009 First-Time Home Buyer Tax Credit limits. If you or your client purchased a home between January 1, 2009 and November 6, 2009, please see 2009 First-Time Home Buyer Tax Credit.

If the Buyer(s)' Income Exceeds These Limits, Can He/She Still Get a Credit?

Yes, some buyers may still be eligible for the credit.

The credit decreases for buyers who earn between $125,000 and $145,000 for single buyers and between $225,000 and $245,000 for home buyers filing jointly. The amount of the tax credit decreases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying income-over $145,000 for singles and over $245,000 for couples are not eligible for the credit.

Can a Buyer Still Qualify If He/She Closes After April 30, 2010?

Under the Extended Home Buyer Tax Credit, as long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close.

Will the Tax Credit Need to Be Repaid?

No. The buyer does not need to repay the tax credit, if he/she occupies the home for three years or more. However, if the property is sold during this three-year period, the full amount credit will be recouped on the sale.

REO'S (Bank Owned Property webpage)

Take your real estate search to a new level, click the link below to get started

Real Estate Sellers Web Page

Real Estate Buyers Web Page

Real Estate Blog

Google Shopping Network

Jorge E. Muralles
Team Leader
Newport Asset Management Group
1 Commercial Wharf Suite B1
Newport RI 02840

401-855-1335

Click Here for more Information

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Jorge Muralles Newport RI Real Estate Market
Newport Real Estate

Jorge Muralles Newport RI Real Estate Market: Real Estate Agent in Newport, RI

Office: (401) 855-1335

Mobile: (401) 855-1335

Buy Sell or Rent Real Estate in RI, we are your gateway to everything in the Ocean State!! www.ripropertyvalues.com

Meet the team

Property Marketing Plan

In the wake of a challenging and swiftly changing society, it’s estimated that in our current market one out of seven homeowners are unable to make their current mortgage payments. For consumers faced with this frightening and stressful situation, the good news is that no one has to go it alone. Having the right advocate, armed with all the right information and documentation can make the difference between avoiding foreclosure and successfully negotiating a sale of your house.

Let’s take a look at seven must-know facts about this tough issue and hopefully open a few doors to answers and options for you:

Foreclosure is not your only recourse: With the Presidential administration, the Federal Treasury, Fannie Mae, Freddie Mac, FHA, HUD, as well as the nation’s servicers and lenders —including investors— all lined up with a renewed and direct focus on doing what’s necessary to keep properties out of foreclosure, there’s never been more help for homeowners in trouble than there is today. Consider this: according to one national study, lenders lose an average of 19% on short sales compared to an average of more than 40% on foreclosures. That’s powerful.

It is important to know what you don’t know: As a consumer in the throws of financial crisis, it’s very difficult to be objective and to see every side of the equation in front of you. Working with a real estate professional who specializes in short sales allows you greater bargaining power, clearer insight and the advantage of having an experienced professional negotiate on your behalf. Much as you would hire an attorney to represent you in a court of law, having an experienced agent in your corner is not only a comfort, but your best recourse for ensuring your family’s interests are protected.

The three stages of foreclosure. It’s fairly simple: Pre-foreclosure, foreclosure and post-foreclosure. It is in this first stage where a homeowner can get help to lessen their credit damage and get out from under a tough situation. Obviously, the earlier in the process you ask for help, the more options will be available to you.

Know the difference between a short sale and foreclosure: The primary difference in the two lies in the effects on your long-term consumer credit. Let’s take a look at some of the differences:

Short Sales: Negotiated settlement, seller’s credit is bruised – not ruined, no attorney fees, peace of mind, you can buy again in two years, all liens are negotiated Foreclosure: Court settlement, seller’s credit damaged long term, usually large attorney fees, very little peace of mind, buy again in 10 years, all liens are exhausted Documentation is critical. When you’re dealing with financial institutions, documentation is everything.

Be prepared to furnish the following at the very least: the last two years’ tax returns, two months of latest pay stubs, and six months of recent bank statements, together with a short sale letter of explanation. Every lender is different, and an experience distressed property specialist will instruct you every step of the way on exactly what documentation you’ll need to prepare an acceptable hardship package. Keep in mind, in today’s often bogged down system, it doesn’t pay to take any short cuts. Follow your agent’s advice to the letter to better your chances at a successful resolution to your mortgage
crisis.

Be careful. Unfortunately, the current financial crunch being felt by so many in a shifting economy can bring out the very unscrupulous in our society. There are a tremendous amount of predatory characters out there eager to take advantage of families experiencing tough financial decisions. You’ll find them asking for money up front, or your signature which can remove you from the deed to your property but not the mortgage. Always talk to an experienced real estate agent or attorney before signing anything.

Helping families in distress is what I do best. I believe that no one should have to weigh these financial options alone and know that having an advocate on your side can not only help you best resolve your situation, but allow you to more quickly find peace of mind as well.

I’m here if you need me with answers to all the many questions you might have. invite you to also to share this valuable information with anyone you know who is facing a mortgage crisis. Everyone deserves a resource they can trust.

I look forward to helping you. Give me a call today!

At Newport Real Estate, we have a system that helps to get this process approved in very consistent percentages. If you or anyone you know is having this problem, we can help!

Spanish / English Agents

Jorge E. Muralles
Team Leader / Real Estate Consultant
Newport Asset Management Group
1 Commercial Wharf Suite B1
Newport RI 02840

401-855-1335
401-849-8043 (fax)

Click Here to Request Information

or visit our web site

www.ripropertyvalues.com

We have helped many property owners before and would love to help you as well. We have real estate consultants with knowledge of the local real estate market.

We have bilingual real estate agents

Spanish and English.

About Us

REO's and Short Sales Online News Letter

Real Estate Buyer Guide

Real Estate Seller Guide

REO Marketing Plan - Services for Corporations

Areas of Expertise

Newport Real estate is a full service real estate office, we have been around since 1970 and provide a range services from real estate consulting to property and asset management.

We are a very diverse office, our agents now can provide services in English and Spanish.

The real estate market is very challenging and our focus is to help people with objective advice in the purchase, sale or rental of real estate.

We specialize on helping first time buyers accomplish their goals by guiding them through the buying / selling process.

We help investors acquire and manage property.

We also help investors minimize tax liability when they sell their property. This is done through a 1031 exchange.

We have also set up a team of consultants to help people avoid foreclosure. We have many options available.

Keep us in mind for your friends or relatives who need assistance in Spanish.

Call us for information on any of our services.

Jorge Muralles Newport RI Real Estate Market

Newport Real Estate - Local market update - what is up with market?

Understanding Real Estate Sellers - Short Sales, Foreclosures and private seller

Rhode Island - Real Estate Investment opportunities - Short Sales, foreclosures (REO's) and local listings available.

Rhode Island Real Estate end of the year market update

First time buyer credit extended and expanded until April 30th. 2010

Jorge Muralles Newport RI Real Estate MarketNewport Real Estate

Meet the team

About Us

Areas of Expertise

Jorge Muralles Newport RI Real Estate Market
Newport Real Estate