PPS Benefit Street Stroll this Saturday!

For the Benefit of All

November 30, 2010

Bill Applegate

This Saturday, the Providence Preservation Society will hold its much beloved Benefit Street Stroll and Home Tour, celebrating the history of this seasonally-decorated neighborhood. From 11:00am to 5:00pm, historic homes will be open for a self-guided tour, for which the public can register at the Old State House (150 Benefit Street). Ticket-holders can also enjoy a lecture by PPS Executive Director, James Brayton Hall, on the history of Benefit Street, and docent-led walking tours. Guided tours include an Architectural and Cultural History of North Benefit Street at 11:30am, and a guided tour of South Benefit Street at 12:30pm. There will also be holiday refreshments, family-friendly festivities, hay rides, carolers signing along the street and a door-decorating contest. At 5:45pm a parade, led by the 2nd Rhode Island Regiment, will head to City Hall for the annual Tree Lighting with Mayor Cicilline.

For a special price, ticket-holders can take a holiday decorating seminar taught by Martha Beckman, former Holiday Director for Martha Stewart Living. They also have the option to enjoy a Patrons’ Reception, featuring Nancy Austin, a Rhode Island-based art historian. She will present a lecture entitled “Signs of the Times,” that discusses the significance of building signs in 19th Century Providence.

Record-high sales help revive R.I.’s luxury real estate market

01:00 AM EST on Saturday, November 20, 2010

By Christine Dunn

Journal Staff Writer

NARRAGANSETT –– When an estate at 580 Ocean Rd. sold Monday for $6.4 million, a record for Narragansett, it was another late-season shot in the arm for Rhode Island’s high-end real estate market.
Five of the top 10 house sales in the state so far this year have occurred in October and November, according to the Rhode Island Association of Realtors.

Smart decorating for the holidays - how much is too much?

I've had many sellers ask if putting their house on the market during the Holidays would help or hinder the sale of their house.  There is no question that there are guidelines we should live by in terms of Holiday decor when you are opening up your house to possible buyers. Melissa Dittmann Tracey from Realtor Magazine gives us 6 Principles to Holiday Staging which will help you and your agent prepare your house in the most welcoming way over the Holidays! 

6 Principles to Holiday Staging

Excerpts from: A Dream House After All

The following are well made points in Karl E. Case's NY Times article about why it's a good time to buy. Full article available through link below.

September 1, 2010

By KARL E. CASE

Boston

Think of it as an investment. The return or yield on that investment comes in two forms. First, it provides what is called “net imputed rent from owner-occupied housing.” You live in the house and so it provides you with a real flow of valuable services. This part of the yield is counted as part of national income by the Commerce Department. It is the equivalent of about a 6 percent return on your investment after maintenance and repair, and it is constant over time in real terms.

10 more reasons to buy now!

Wall Street Journal give us yet another 10 reasons why this is a good time to buy Real Estate.

Enough with the doom and gloom about homeownership. Brett Arends explains why owning a home is a good thing.

The ultimate weekend project - get on it folks!

FALL MAINTENANCE CHECKLIST

 

Many areas have already had a taste of fall weather, and it’s not far behind for most others. Now is the time to make sure your house and heating system are ready for winter. Here is a brief checklist to guide you through some basic tasks before real cold weather settles in and it is too late: Click here to view list.

Providence voted "Top Arts Destination" by AmericanStyle Magazine

Yet another reason to move to Providence!
AmericanStyle Magazine’s annual readers’ poll has named Providence a “Top Arts Destination” for the fifth year.  See GoLocalProv's story here.

Incredible opportunity for expansion on beautiful Jenny's Lane in Barrington- steps from the harbor!

www.44jennyslane.com

$720,000

Wonderful 3 bedroom, 1.5 bath colonial on beautiful  31,958 square foot lot just steps from the harbor on desirable Jenny’s Lane.  Fabulous new kitchen, office on 2nd (could serve as 4th br), incredible woodwork, partially finished basement.  Great attic space with stairs down into office.  Walk to schools, shops & bike path.  Tremendous opportunity for expansion in fabulous location!

PENDING!

115B Pratt Street - incredible luxury 3br 2 1/2 bath townhouse with the works & spectacular views of downtown.  Please visit www.115pratt.com for details, floor plans and photos.  $945,000

PENDING!

Last week's stats for single family houses and Condos July 2010

•          Active Single Family Listings: 6157

•          Average List Price: $ 490,000

•          Average DOM: 126

•          Single Family Sold: 93

•          Average Sale Price: $  288,000    95% sp/lp

•          Median Sale Price: $ 230,000

•          Average DOM: 69

•          1-2 Bed: 66

•          3 Bed: 67

•          4+ Bed: 70

•          Active Condo Listings: 1504

•          Average List Price: $ 334,000

•          Average DOM: 157

•          Sold Condos: 23

•          Average Sale Price: $ 414,000   94  % sp/lp

•          Median Sale Price: $ 371,000

•          Average DOM: 77

•          1-2 Bed: 83

•          3 Bed: 4

•          4+ Bed: n/a

Throw away or recycle? How to dispose of hundreds of household items in RI

Ever wondered if you should throw away or recycle all of those vinyl coated hangers, CDs, old Teflon coated pots and pans or window blinds?  This A-to-Z list created by the Rhode Island Resource Recovery Corporation is an amazing guide to help you dispose of them properly. 
http://www.rirrc.org/resident/what-goes-where-/recyclopedia-the-a-to-z-list/

Single family home sales up 11%!

http://www.riliving.com/PressReleases/Archives/2010/July/2010-07-27.asp

Luxury living in Scituate RI!

www.399bungy.com 

$795,000

3425 Square feet of living space, 4 bedrooms, 2.5 bathrooms

• One of a group of 4 post and beam houses designed and built by wood sculptor Armand Lamontagne in the early 60's

• Interior update designed and executed by interior designer Alan Reniere of Alan Reniere Interior Design.

• Appearance of houses are taken after existing "real" houses that are now museums

• This house is the Parson Capon House built in 1683 and still exists as a museum in Topsfield, MA.

• The house includes three working fireplaces, one in a great room which includes a modern kitchen

Heating includes four separate  temperature control zones. Great room is radiant heated in the floor.
Central Air-conditioning includes three separate compressor/air handler systems and four separate temperature control zones.
There are two water wells plumbed to be used interchangably. A dug well and a deep well (450 ft deep)
Full 200 amp, 210 volt electrical service with circuit brakers
House has been photographed several times and include with articles in magazines
Mature landscaping designed and installed in 1993 (17 years ago) by landscape architect Brian Gravell includes extensive perennial gardens and specimen shrubbery and trees.


Extension of the Homebuyer Tax Credit closing deadline!

Issues in the News  Congress Passes Two Key Bills:  Closing Deadline Extended for Federal Buyer Tax Credit for Those Under Contract by April 30th, 2010 and Reauthorization of National Flood Insurance Program Warwick, RI - July 1, 2010...Yesterday, Congress passed an extension of the Homebuyer Tax Credit closing deadline, the Homebuyer Assistance and Improvement Act (H.R. 5623).

IS IT BETTER TO BUY OR RENT?

In today's market many buyers ask this question.  There are certainly pros and cons to both, but if a 6 year commitment is involved the numbers may surprise you.  You can see for yourself with this advanced buy/rent calculator provided in the following NY Times article.
"The calculator keeps a running tally of the most common expenses of owning and renting. It also takes into account something known as lost opportunity costs — for example, the return you could have earned by investing your money instead of spending it on a down payment. The calculator assumes that the profit you would have made in your investments would be taxed as long-term capital gains and adjusts the bottom line accordingly. The calculator tabulates lost opportunity costs for all parts of the buying and renting scenarios."

Please - don't let this sale fall through over curtains...

Buyers and sellers I am begging you...

Buyers, in today's market it is SO important to be clear and upfront about what you are asking the seller to leave behind, whether it be the washer and dryer, light fixtures or curtains.  As a seller it is very easy to get so caught up in the emotions of negotiating price that the other seemingly unimportant parts of an offer get left behind, only to resurface after you've already signed everything.  Custom curtains are especially difficult to part with, particularly when the reality of moving is now hitting you, and the thought of someone else actually benefiting from the money and creativity you've put into them after you already feel completely beaten down in price is especially difficult.

So please, please read everything before signing ANYTHING.  This will save you an enormous amount of frustration and unnecessary emotional turmoil in the end - AND save your agent from having a large therapy bill ;-)



 

OPEN SUNDAY 12-1:30pm!

OPEN SUNDAY JUNE 20th 12-1:30pm!   
420 Benefit Street
$629,000

Wonderful Barrington House on 1.2 acres with dock/water rights

Click here for virtual tour

1.2 enclosed acres, 3140 square feet of living space, 5 bedrooms, 3 full baths, 1 powder room, sunny open floor plan, Au Pair on 1st, laundry on 1st, large living room with fireplace, expansive sun-room, eat-in kitchen, office on 1st, rec room on 2nd, beautiful hardwoods throughout, 2 car garage with attached workshop on one side, and exercise room on the other... Membership in the Harbours Association includes the right to a dinghy slip on this dock, located just around the corner on Mathewson Road. $1,075,000

An exciting and encouraging article regarding the future of Providence Public Schools

This is what we've been waiting for...
Nathon Bishop lives up to promise

Mortgage rates near record low!

The most common question I get is "How are the rates these days?"  We continue to hear that rates will still go down, but for you buyers I am loving the near record low.  See article from Inman below:

http://www.inman.com/news/2010/05/27/mortgage-rates-near-record-lows

Just listed! 443 Nayatt Road

OPEN THIS SUNDAY 5/23 from 2-3:30pm!

Barrington, RI.  Wonderful 3+ bedroom 2.5 bath Nayatt colonial.  Newly painted inside and out, new granite kitchen, beautiful updated bathrooms, large open family room off of kitchen opening to deck and back yard, lovely fireplaced living room with screened in porch, formal dining room, master bedroom & bath, large bonus 3rd floor space can be used as 4th bedroom, playroom, or office!  New roof, 2 car garage & parking for at least 8 cars on property.

Video of 97 Transit Street

Open houses this weekend!

Please join me at two very special open houses this Sunday May 16th!

87 Benefit Street East Side of Providence 11:00 - 12:30 $760,000 www.87benefit.com

Both incredible College Hill houses that have been renovated and beautifully restored & updated.  When you think about buying an older house you not only wonder about the condition of the house, but more importantly -  how have the current sellers taken care of the house and what have they done to update  it to meet the current "modern" standards of today's living?   Both of these properties have been lucky to have owners who have a love and respect for historic houses.  The renovations and upgrades are beyond a buyer's dream when it comes to buying an older house - it's all been done.  Just move right in and make the house your own!

 

97 Transit Street East Side of Providence 1:00 - 2:30 $629,000 www.97transit.com

Last week's stats for single family houses and Condos

• Active Single Family Listings: 5520
• Average List Price: $ 487,000
• Average DOM: 121
• Single Family Sold: 184
• Average Sale Price: $ 259,000 97 % sp/lp
• Median Sale Price: $ 202,000
• Average DOM: 86
• 1-2 Bed: 97
• 3 Bed: 85
• 4+ Bed: 82

• Active Condo Listings: 1488
• Average List Price: $ 335,000
• Average DOM: 150
• Sold Condos: 30
• Average Sale Price: $ 216,000 93 % sp/lp
• Median Sale Price: $ 162,000
• Average DOM: 93
• 1-2 Bed: 98
• 3 Bed: 55
• 4+ Bed: 232

Existing-Home Sales Rise on Home Buyer Tax Credit and Favorable Market Conditions

Great news for housing market in RI!

Housing Prices and Sales Increase in First Quarter

Warwick, RI, April 22, 2010 … According to statistics released today by the Rhode Island Association of Realtors, the state’s housing market showed strong signs of rebounding in the first quarter.  Sales of single family homes were up 8.5 percent from first quarter of 2009 and median price rose 7.2 percent, from $180,000 last year to $193,000 this year.  The number of distressed sales decreased to 36 percent of all sales, down from 48 percent the year prior. The price of single family properties not selling through short sale or foreclosure was $225,000.
“We’re pleased with what we’ve been seeing. Consumer confidence is growing and the tax credit has helped as well, especially in March when sales increased almost 20 percent. It’s still critically important for sellers to be realistic in pricing in order to keep this sales momentum going and achieve a balanced market,” commented Karl Martone, President of the Rhode Island Association of Realtors. 
At the end of March, Rhode Island had a ten-month supply of homes for sale.  Historically, a six-month supply has indicated an equal balance between supply and demand.  Sales statistics show a higher inventory of single family homes for sale in the first quarter compared to a year ago, most likely from sellers eager to attract buyers taking advantage of the tax credit.
Full story here

Ahhh Spring!

There is something so wonderful about the blossoming of cherry trees this time of year.  Whether they signify the welcoming of pleasant sunny weather to come, or simply remind us that winter is indeed over (even though it still looks like it's snowing),  they certainly bring joy to our senses.  This is also a reminder that if your house is currently on the market, or if you are thinking about putting it on soon, to take advantage of this time to work on your landscaping to assure your curb appeal it at it's very best.  It is also wise to take pictures while these are in bloom (even if your house is not on the market yet) particularly if you have these trees on, or near, your property.   Don't forget that 99% of buyers are searching for their house on-line,  and there is nothing better than having yours 'pop' out with these gorgeous trees in full bloom!  If your house was on the market this winter have your agent re-take the exterior photos to give your listing a fresh new look.  It's important not to let your house feel seasonally "dated" as though it's been sitting around for a while.  So, enjoy the spring and the busy spring buying & selling season!

DID YOU KNOW (Wiki): The National Cherry Blossom Festival is a spring celebration in Washington, D.C. commemorating the March 27, 1912, gift of Japanese cherry trees from Mayor Yukio Ozaki of Tokyo to the city of Washington. Mayor Ozaki donated the trees in an effort to enhance the growing friendship between the United States and Japan and also celebrate the continued close relationship between the two nations.  There are over 100 varieties of Cherry Trees in Japan.

What will my settlement costs be?

One very common question buyers ask me after signing a Purchase and Sales Agreement on a house is "What are my settlement costs going to be?".  The Federal Reserve Board offers a Consumer's Guide to Mortgage Settlement Costs which will help you prior to the buying process.  This is a great resource with helpful tips for leveraging these costs (which do add up).  This also includes helpful links and a Settlement Costs Worksheet, which allows you to compare costs by shopping among several lenders and brokers.

Staging Success!!

Chris Eramo and Paul Santos with Paul Christopher Design taught another successful RISD continuing ed class on staging techniques and practices this weekend.  The class was held at 97 Transit Street on the East Side of Providence and with 5 hardworking students Paul and Chris transformed this beautiful Victorian house,  currently on the market for $639,000.  The class uses items already found in the house, de-cluttering & re-arranging rooms by swapping furniture, window treatments, rugs & wall hangings - anything found that might make an impression.  I held an open house the following day and the house received glowing reviews from people passing through!  What a difference staging makes...  to see pictures of the house go to www.97transit.com

Tax Credit Extension expiring April 30th!

Remember, the extended home buyer tax credit ends April 30th, so keep that in mind if this applies to you or anyone you know who qualifies.

click here for information 

Why staging your house to sell is so important. Tips and tricks from the pros.

http://homebuying.about.com/od/sellingahouse/ht/homeprep.htm