57 Priscilla Av Pvd: a charming Two Unit property in the Silverlake neighborhood!
Take a look at this charming Two Unit property located in the Silverlake neighborhood of Providence. This property features two bedrooms in each unit, a brand new roof, plenty of off street parking, and lovely curb appeal! Upon entering the front entrance, the first floor unit opens up to a sun lit living room with tall ceilings and hardwood flooring throughout. The two bedrooms are spacious and feature large windows and decent closet space. The eat in kitchen has ample cabinet and counter space. The back entrance is off of the kitchen. The second floor unit also features two bedrooms, hardwood floors, lots of natural light, and tall ceilings. The primary bedroom also features a large walk in closet. The eat in kitchen has a gas stove with newer appliances. The basement has been fully parged and offers plenty of storage space. There are two electric panels, two forced hot air gas heating systems, and two hot water tanks. This property offers a small, fenced yard and ample parking for up to four cars. Don't miss your opportunity for this lovely property!
First Floor: Month to month lease; rented for $850 per month. Market rent would be $1200-1400
Second Floor: rented by a relative, month to month for $800 per month. Market rent would be $1200-1300
Roof: newly installed July 2022
Heating Systems: forced hot air, gas, age unknown
Hot Water: two tanks, one dated 2014 the other dated 2017 both are gas fired
Off Street parking for up to 4 cars
Here are some of my very favorite Rhode Island farms---ideal for picking apples & pumpkins, corn mazes, & (my favorite) Apple Cider donuts!
Barden Family Orchard
Hard Pressed Cider Co
Carpenters Farm Stand
Spring Hill Sugar House
These certainly aren't the only farms in Rhode Island. Looking for a complete list? Check out Farm Fresh RI!
Take a look at this beautiful two bedroom townhouse located in the heart of Pawtuxet Village. Featuring hardwood floors throughout, this end unit offers a bright and airy living room with a gas fireplace and glass sliders with a balcony overlooking a quiet forest and the Pawtuxet River. The kitchen area has ample cabinet storage and stainless steel appliances. The second floor features two bedrooms with generous closets and a full bathroom. This townhouse boasts a lower level garage with an additional bonus room for laundry that could also accommodate a home gym or office. This unit has it all: tasteful updates, plenty of natural sunlight, a private balcony for your outdoor retreat, and is in a prime location in a well managed complex. With just a short distance to Pawtuxet Village and Gaspee Point, restaurants, parks, and shops, you won't have to go far for anything! Enjoy all of the activities and dining that the area has to offer without having to worry about parking! Don't miss out on this great opportunity and book your showing today!
Live in the heart of the East Side of Providence in a sunny 1880’s cottage filled with charming detail. This rare single-family home is a perfect condo alternative for those seeking privacy and a garden. This cozy home features hardwood floors, original moldings, antique door knobs as well as modern updates including a custom kitchen with a fireplaced dining area, ample storage and lighting, and European stainless steel appliances. The spacious, bright living room opens into a front parlor showcasing sunset views of the State House. The first floor also features a half bath. The second floor offers three bedrooms and a full bath with a clawfoot tub and laundry. A full basement and attic provide additional storage. A French door leads from the kitchen to a garden with well-tended perennials, a raised bed for vegetables and a private firepit nook. In addition to the garage there is an outbuilding with new electrical wiring that is used for seasonal entertaining and work space, but could easily become a year-round studio, guest room or secret clubhouse! Located on a friendly, diverse, quiet block that’s an easy walk to groceries, shopping, local Y, parks, train station, Brown University, RISD, and downtown. Or stay right at home in your very own (actually featured in a storybook!) cottage!
102 Foster Center Rd Foster, RI
Welcome to this two bedroom cottage with a warm rustic charm! The spacious and bright living room welcomes you right in and features a cozy wood-burning stove. Flow over to the kitchen that has an ample amount of cabinet and counter space so you can whip up your favorite meal with family and friends with ease. Enjoy your morning cup of coffee in the quaint sunroom breakfast nook that overlooks your tranquil surroundings and has a door that leads you out into the backyard. Take advantage of the den area to create your own home office, a family room, or whatever your needs may be! Sit out on the enclosed front porch to admire the large garden area and the peace and quiet. You can appreciate the lovely nature views that every window in the home provides! The private wooded lot gives you plenty of opportunities to create your own oasis to sit back and relax in. Even with feeling completely tucked away, you get the luxury of being conveniently close to Route 6 which has restaurants, stores, shops, and everything you need. Including the town hall, library, post office, and police station within walking distance! One major upgrade includes a new roof installed in 2020. Don't miss out on this rare gem. Click on the buttons below for more info!
.We still have extremely low inventory & high demand--which is keeping prices up & increasing property values/appreciation. And there's no indication that we are headed into a situation where we would suddenly have so many homes available on the market that prices would tank----that's what happened in 2008. Bad lending practices allowed people who, by today's lending standards, would not be able to buy a home & when the recession hit there was a series of events that occurred: the buyer pool all but dried up; too many people had high debt to income plus not enough savings so if they lost their job they couldn't afford their mortgage or credit card payments & went into foreclosure, too many people panic-sold (feared a crashing market) & because there was low demand the supply of homes skyrocketed (in 2008 the National housing inventory was a 10 months supply vs the 3 months supply we have right now).
Home owners today have a lot of equity in their home & fixed interest rates that are super low. Even if we are in a recession (or head into one) the experts are not predicting that people would suddenly be in a situation where people would lose their homes through foreclosure or that they'll lose their jobs & sell---sure, some people may but not enough to even make a dent in the amount of inventory that we need. So all those folks saying the market is going to crash--don't argue, it's a waste of time, but don't get sucked in! Pay attention to the data! Or pay attention to me because you can trust that I am constantly paying attention to the data & will share my info with you!
I LOVE this new listing that I have in Providence! Hammond Street is a fabulous street to live on---you're in the heart of The West End--just steps from some of the best restaurants, shops, bars, and coffee shops in all of Providence! Yet you're on a tree-lined street with a mix of condos, single family homes, and a few multi-family properties---most are primarily owner-occupied. There's a real sense of community on this street in particular!
We're still in a sellers market, Folks! However---rather than every property going under contract within the first weekend, we are seeing some properties go through two weekend cycles. But that's only SOME properties. Those properties that are in hot neighborhoods or certain price points are still flying off the market after the first weekend & with multiple offers. Real estate, in a more normalized market, is super hyper-locally focused. We've been in a period where blanket statements were true: all houses went under contract regardless of location! But now, as interest rates have gone up & fewer buyers are shopping, we're seeing slightly lower demand which has given buyers that are shopping more options.
Do headlines have you questioning what’s going to happen with home prices? Experts forecast home prices will not fall or depreciate. Instead, they’re likely to continue appreciating, but at a more moderate, decelerated pace. This means that the rate at which home prices have been increasing will slow---in my opinion that's a good thing! We also expect inventory to go up which will also help! Buyers may go into a bit of a "hibernation mode" over the next few weeks---evaluating what's happening, this could cause us to see homes on the market longer & price decreases for some properties that over estimated the market value in their pricing strategy.
If you want to discuss what’s going on with home prices in our local market, DM me today.
#homepriceappreciation #dreamhome #realestate #homeownership #realestategoals #expertanswers #stayinformed #staycurrent #powerfuldecisions #confidentdecisions #instarealestate #instarealtor #realestatetipsoftheday #realestatetipsandadvice
June Market Update
Oh hey! Have you heard the news....
So it's a wild ride out here in the real estate market & if you know me well you know I work 24/7--especially this time of year--which is why this is coming out two weeks later than planned.... This is a much longer market report than usual---want to chat more with me? Call me!
Why are interest rates going up so quickly:
Good question & I’m getting this question a lot these days. Obviously there are a lot of complicated factors but one way the Feds are attempting to stave off a recession & combat inflation is to stop propping up Mortgage Backed Securities & enticing investors by higher returns on these securities--that return is your interest rate & they get a much higher return on 6% rather than 3%. Mortgages have been sold on Wall Street & for the past many years it’s been a safe & solid investment but with low rates the return on the investment has been low. The Fed made borrowing money easy & practically free as a safeguard for the economy during the pandemic. But that free money, coupled with supply chain & labor market shortages, has caused inflation to spike--everything has gotten expensive & the price for goods & services has soared. The Fed is trying to slow it all down by raising interest rates--it’s basically their way of saying “No dessert for you--Go To Your Room & Think About What You’ve Done.” They’re attempting to bring prices down through what they’re calling a “Soft Landing” rather than a crash & burn recession. Will it work? Time will tell…
In the meantime Sellers are going to have to be more conservative with pricing--we peaked in April. There's still high demand/low inventory so prices will still go up but the rate at which they've been going up will slow. Prices are NOT going to significantly fall---if you have any anxiety about that give me a call & I'll talk you through the data.
Sellers: Do not panic sell! If you don't have someplace to go or a plan in place to Sell + Buy, or a cheap place to rent (there aren't any cheap places to rent unless you know a guy...)--don't sell. Prices will continue to go up for at least the next 3-5 years. Get a plan in place if you want to sell---talk to me! YOU ARE NOT GOING TO LOSE VALUE.
Buyers: Make sure you are monitoring rates & understand how interest rates affect how much you qualify for.
==> Rates are going to keep going up! We're likely in this pattern for the next TWO YEARS.
There's a slight advantage right now because some people are (mistakenly) sitting on the sidelines or (sadly) are priced out. Now is when you may have more options because we have slightly more inventory & instead of 10% over asking we may be looking at 3-5% or less & you may be able to get some seller concessions---perhaps on repair requests or closing cost credits to help buy down your rate.
Share this info with your friends--they're likely seeing a lot of "advice" which is really just opinions online. My information is backed by actual data--if you want charts & specific numbers I can provide the info to you--simply reach out!
Read this for more info!
Buying or Selling? Here's some useful advice!