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Jamestown RI 02835 Real Estate Market Report

03-12-12
Ginny L Gorman Realtor®|North Kingstown Homes for Sale - North Kingstown RI
Ginny L Gorman Realtor®|North Kingstown Homes for Sale - North Kingstown RI: Real Estate Agent in North Kingstown, RI
  • view my blog
  • Office: (401) 884-4100 x268
  • Mobile: (401) 529-7849

Jamestown RI 02835 Real Estate Market Report .

Jamestown RI Condos- real estate

Jamestown RI homes sold in February 2012, are as follows:

1 home sold between $300,000-$400,000

There were 58 Jamestown RI homes for sale in February which was 2 more homes on the market over the prior month. This is an decrease in home inventory on Conanicut Island, aka Jamestown RI. The coastal Jamestown RI shore remains one of the desirable waterfront buys for RI home searches. Who wouldn’t want to be surrounded by water?

If your are a Jamestown home seller, this Jamestown RI real estate market report provides you information on recent home sales. Check out all the Jamestown RI homes for sale to give you a sense of the supply and demand in home inventory. This is Rhode Island living on Conanicut Island that you are sure to savor.

Jamestown RI continues to have a fair supply of homes for sale and the oceanfront, water front and coastal Jamestown RI homes for sale are not selling.

3 Pending homes sales for February 2012…Jamestown’s home market is not showing the true dynamics of a real estate market that homes sellers depend upon. Jamestown home sales increased by 1 over December but homes sale were under $1 million.

The number of luxury waterfront Jamestown RI homes on the market is 27 which is 47% of the Jamestown real estate inventory right now.

So in February 2012- 1 Jamestown RI home was sold, the average sale price of a home was $386,000, home sold at 99 % of list price and were on the real estate market on average for 145 days.

Why wait until the Spring to sell your home? There are buyers looking for homes to buy especially in the under $400,000 price range. Putting your home on the market when the inventory is low, may get your Jamestown home sold before the home inventory increases in the Spring.

Thinking about selling your home, give me a call at 401.529.7849 to ensure you have an experienced Realtor and negotiator representing you. Jamestown RI Real Estate Market Report – February.

Jamestown RI Real Estate Market Report for 2011


View Jamestown RI 02835 in a larger map

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Ginny Lacey Gorman is a North Kingstown Realtor who works and knows the Jamestown RI geographic area of homes for sale, schools, happenings, important tidbits of information and businesses well. Waterfront, water view, ocean front, luxury and coastal RI real estate are her specialty, so call Ginny for your buying and selling home needs. As North Kingstown short sale agents, she and her team helps clients navigate successfully the rough short sale waters throughout RI, contact Ginny if you are having trouble paying your mortgage. When you are in need of an internet savvy RI realtor® who sells homes in this real estate market, call Ginny today at 401.529.7849.

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Real Estate and Mortgage Market update for March 12th

03-11-12
Michael Dutra
Michael Dutra: Loan Officer in Barrington, RI
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  • Office: (401) 438-0202 x0162
  • Mobile: (401) 486-6894
  • Secondary: (401) 228-0162

Keeping you updated on the market!
For the week of

March 12 , 2012

MARKET RECAP

Home prices continue to garner front-page attention. CoreLogic reports that prices declined for the sixth-straight month in January, dipping 1% from December. Year-over-year prices are down 3.1%. In short, CoreLogic says that prices are about where they were 10 years ago.

CoreLogic offers one set of data on home prices, Clear Capital offers another, less ominous set. According to Clear Capital, national home prices declined only 1.9% year-over-year. What's more, its data show short-term prices being more stable, with prices falling only 0.6% from the third quarter to the fourth quarter of 2011.

Everyone is keeping a close eye on distressed properties. Now that last year's “robo-signing” foreclosure imbroglio is behind us does that mean we will see a surge in foreclosed and REO properties? And if so, how will they impact inventory and prices?

Pertinent questions, to be sure, and ones we don't have a ready answer for. We do know that the inventory of existing homes for sale declined 21%, or by 600,000 units, in 2011. At the most recently reported sales pace, that means we are looking at 6.1 months of supply – the lowest inventory level since April 2006. Lower supply supports higher prices.

Today's low inventory is attributed to falling foreclosure volume. But now that banks are free to foreclose, two million more homes are expected to hit the market over the next two years. If that's the case, then distressed inventory will rise sharply. Returning to economics: higher supply leads to lower prices.

There are a few extenuating factors though. The economy is improving, and continues to add jobs at an increasing rate. The private sector added 216,000 jobs last month, according to the latest national employment report from Automatic Data Processing. That's a significant increase over the 173,000 jobs added in January. More people working means more people who can afford a home.

The rise in REO properties could be offset by a decrease in other market segments. For instance, there was a significant increase in short sales in the fourth quarter of 2011, which pushed the number up to nearly 910,000 units nationwide. That said, the long-term trend for short sales is down; fewer short sales could be a counterweight to rising REO units.

Housing formation is another attenuating factor. After 2007, household formation plu mm eted to 300,000 per year from its historical rate of 1.25 million. We see a lot of pent up demand. The population continues to grow, the economy continues to improve, home affordability is at a multi-decade high. The market is ripe for a spike in new household formation.

In short, we don't expect new REO properties to upset the housing recovery like the more dire pundits are predicting.

Economic
Indicator

Release
Date and Time

Consensus
Estimate

Analysis

Retail Sales
(February)

Tues, March 13,
8:30 am , et

1.1% (Increase)

Important. Sales remain robust on improving consumer confidence.

Federal Reserve FOMC Meeting

Tues, March 13,
2:15 pm , et

Federal Funds Rate: 0% to 0.25%

Important. The Fed will hold short-term rates low and monitor agency debt in order to hold long-term rates low too.

Mortgage Applications

Wed., March 14,
7:00 am , et

None

Important. The rise in purchase applications points to an encouraging start to the spring buying season.

Producer Price Index
(February)

Thurs., March 15,
8:30 am , et

All Goods: 0.4% (Increase)
Core: 0.2% (Increase)

Moderately Important. Producer prices are heating up, but credit markets remain unfazed.

Consumer Price Index
(February)

Fri., March 16,
8:30 am , et

All Goods: 0.5% (Increase)
Core: 0.2% (Increase)

Important. Deflation is no longer a concern, though rising consumer inflation could cause some Fed members to rethink the Fed's low-rate policies.

Ready, Set, Refinance

We expect to see a surge in mortgage applications in coming months. Couple low rates with HARP 2.0, the federal mortgage program that will enable millions of underwater homeowners to tap the mortgage market, and mortgage loan demand is sure to grow.

The combination of low rates and HARP 2.0 alone is enough to send business through the roof. Now we get word the Obama administration wants to allow more homeowners to refinance by dropping fees on federally insured mortgages. The administration's plan has the FHA dropping upfront insurance premiums on streamline refinances from 1% to 0.01%. The FHA would also drop annual premiums from 1.15% of the loan balance to 0.55%.

There is one catch: the lower fees only apply to borrowers who took out loans before June 1, 2009 . Still, lower-fee FHA loans are expected to help two to three million borrowers refinance.

The prospect of rising mortgage demand is worth keeping in mind as we head into the spring and summer selling season. Lenders will be busy, and sometimes very busy. Our advice, which we've offered in the past, is not to wait. For buyers, home affordability has never been better; for refinancers, rates have never been lower.

Given the present market dynamics, we think the risk of waiting to refinance or to buy a home far outweighs the possible reward of a lower home price or a lower interest rate.

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Something About the Rebirth of a Season

03-11-12
Ginny L Gorman Realtor®|North Kingstown Homes for Sale - North Kingstown RI
Ginny L Gorman Realtor®|North Kingstown Homes for Sale - North Kingstown RI: Real Estate Agent in North Kingstown, RI
  • view my blog
  • Office: (401) 884-4100 x268
  • Mobile: (401) 529-7849

Something about the rebirth of a Season

Fuzzy Wuzzy Chicks- Spring is Coming.

Rhode Islanders love their chickens and the RI Red is the state chicken. So it is not unusual to find some of my clients wanting to raise

RI real estate likes fuzzy wuzzy chickens

3 day old fuzzy wuzzy Rhode Island chicks

chickens on their property…it is like the rebirth of life, like the season of spring. It is almost here so let us invite her in!

From the ordering of the baby chicks via over night mail they arrive, setting up the 95 degree heat lamp in a tupperware container to house them, understanding the variety of chicks they ordered (7 different chicks all of a different variety), holding these cute fuzzy, wuzzy chicks in the palm of your hand….

Well spring brings new life to this new home just bought by this young couple. So much to look forward to in their lives and their new chicks lives. I am so glad I could experience it with them. It is a great share in my life for the thoughtfulness they bring to my life too.

The chicken coop is on the deck ready to move to the side yard …it will be a month or more before the chicks grow feathers and can enjoy the outside spring weather…so sweet. It is all about the season, new beginnings and new life. Enjoy what is ahead of you in all you do. For me I like the RI real estate business- that's my baby chick that I nurture daily... Right now for my young clients it is about fuzzy, wuzzy chicks- spring is coming. Something about the rebirth of a season.

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Ginny Lacey Gorman is a North Kingstown Realtor who works and knows the North Kingstown RI geographic area of homes for sale, schools, happenings, important tidbits of information and businesses well. Waterfront, water view, ocean front, luxury and coastal RI real estate are her specialty, so call Ginny for your buying and selling home needs. As North Kingstown short sale agents, she and her team helps clients navigate successfully the rough short sale waters throughout RI, contact Ginny if you are having trouble paying your mortgage. When you are in need of an internet savvy RI realtor® who sells homes in this real estate market, call Ginny today at 401.529.7849.

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Tiverton, RI The Town of Land and Sea - Houses for Sale - Waterfront, Equestrian, Mini Farms

03-10-12
Lisa Glowacki, Real Estate Broker - RI & MA
Lisa Glowacki, Real Estate Broker - RI & MA: Real Estate Brokerage in Tiverton, RI
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  • Office: (401) 369-1766
  • Mobile: (401) 369-1766

Tiverton, RI the town of land and sea. If you are looking to purchase waterfront property or a gentleman's farm in Rhode Island you don't want to overlook Tiverton.

Spring is arriving and so are the spring listings. Here are a few of my favorite homes for sale in Tiverton.

Waterfront House for Sale Waterfront House on the Sakonnet River

This home is pristine inside and out. Located on the Sakonnet River offering deep water access and a private beach. Upon entering this 3 bed 2 1/2 bath single level home and viewing room by room there is no questioning the quality of this home. Windows facing the water offer spectacular views while letting the sunlight dance through the open floor plan shimmering off the hardwood floors highlighting the warm color palette. Outside is just as amazing whether sitting on the deck, in the gazebo, or the waterfront deck it is evident that you have found a piece of paradise to call your own.

An Equestrian's Dream An Equestrian's Dream

I have driven past this property at least a hundred times never realizing the wonder that existed beyond. This 3 bed 2 bath 1850 Colonial has been transformed into a beautiful home worthy of a feature in any home magazine. But let me expand. You are purchasing much more than a home. You are purchasing a great lifestyle, a state of the art modern equestrian center, a farm, and profitable business. Located on Main Rd. seconds from Tiverton Four Corners this turn-key property is a gift wrapped in a big red bow. The owners, visit their web site, did a fabulous job on this property sparing no expense and focusing on the smallest of details to create huge results. The stables/barnes are meticulously kept, the padocks have water, the indoor riding ring with rubber and leather footing has a heated viewing area, separate wells, laundry, and the list goes on and on.

Farm at Seapowet

Waterfront Farm Seapowet

For the buyer who has a love for both land and sea this 9 acre waterfront gentleman's farm is calling. Located in the Seapowet area of Tiverton this property offers 600 feet frontage on the Sakonnet River. Great views with a 3 bed 2 bath house, 10 stall barn, and open fields.

These are a few of the great properties for sale in Tiverton. If you are looking for a home in Rhode Island or Massachusetts I would be pleased to provide listings and show you properties.

Coming Soon: Another great 3 bed 1 1/2 bath in Tiverton waiting for you to purchase. Call 401-369-1766 or e-mail lgtiv@aol.com

Rhode Island Real Estate Listings

Massachusetts Real Estate Listings

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Real Estate Market Report for Charlestown RI

03-09-12
Ginny L Gorman Realtor®|North Kingstown Homes for Sale - North Kingstown RI
Ginny L Gorman Realtor®|North Kingstown Homes for Sale - North Kingstown RI: Real Estate Agent in North Kingstown, RI
  • view my blog
  • Office: (401) 884-4100 x268
  • Mobile: (401) 529-7849

Real Estate Market Report Charlestown RI.

Charlestown RI Real Estate Market Report- February 2012

Pristine and unique - It is Quonnie time!

13 Charlestown RI homes have been sold in February 2012:

1 waterfront Charlestown RI home sold for over $1 million

1 home sold for over $400,000

3 homes sold between$300,000- $400,000

8 homes sold less than $300,000

There were 94 Charlestown RI homes for sale in February 2012 which another decrease in inventory. This is the sixth month of a decline in real estate inventory in Charlestown RI (which is typical since many homes are withdrawn from the market for the winter months).. Yet there were two more homes sold this month than the prior month.

Average Home Sale Price in February 2012 was $280,453, homes sold on average for 92% of list price and were on the real estate market for 178 days on average.

The Charlestown RI real estate market has improved from February 2011 to February 2012. Home sales have doubled and homes in pending have increased by two. All signs of a stronger spring market and sellers have been waiting to hear this improvement!

The numbers of Charlestown RI homes for sale, price range of homes sold and real estate market trends month

Charlestown RI Real Estate Report- February 2012

Waterfront - oceanfront Quonnie Home

to month (such as at Quonnie) are shared here every month. From West Beach to East Beach to the Ninigret neighborhood of homes there are many great Charlestown RI locales to view.

Charlestown RI continues to have a fair supply of homes for sale as well as oceanfront and ocean view Charlestown RI homes for sale. However, the current absorption rate for the homes on the market is 7 months and is entering a neutral market. When inventory levels are at a 6 month home absorption rate, it is considered a balanced market. Less than 6 months becomes a sellers market again.

There were no Charlestown short sales that closed in February. There are 8 short sale Charlestown homes on the market right now.

11 Charlestown RI pending home sales awaiting closing in February. Pending sales are down by 10 homes over the prior month.

When you have white sand beaches, serene and quiet living and do not forget the low taxes, it is a mega draw for buyers all around New England and beyond. Come and visit! Explore the uniqueness of this coastal town. Charlestown RI Real Estate Market Report- February 2012.

Catch up on last year’s market report:

2011 Charlestown RI Market Report.


View Charlestown RI 02813 in a larger map

~~~~~~~~~~~~~~~

Ginny Lacey Gorman is a North Kingstown Realtor who works and knows the Charlestown RI geographic area of homes for sale, schools, happenings, important tidbits of information and businesses well. Waterfront, water view, ocean front, luxury and coastal RI real estate are her specialty, so call Ginny for your buying and selling home needs. As North Kingstown short sale agents, she and her team helps clients navigate successfully the rough short sale waters throughout RI, contact Ginny if you are having trouble paying your mortgage. When you are in need of an internet savvy RI realtor® who sells homes in this real estate market, call Ginny today at 401.529.7849.

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