C. C. and Chris Wall Providence RI Real Estate

More on our first half of the year 2010 results for single family homes on the East Side of Providence. As this chart shows, the market was driven by the first time homebuyer segment, accounting for 43% of unit volume.  A full 77% of the unit volume was done under $700,000.  The over $700K segment as well as the over $1MM segment we ...

So how did the first time homebuyer tax credit impact average days on market?   In our view, it doubled the momentum of sales.  Days on market for single family homes on the East Side of Providence decreased from nearly 2 months to 3 weeks on average.  That's fast.  We can't help but think that the first time home ...

The first half of 2010 saw a 64% increase in unit volume over the same time last year.  No doubt that the first time homebuyer tax credit provided the stimulus for this increase in sales.  What we don't know is if volume that would have occurred in that later part of the year was simply moved up into the first half. Regardless, sales ...

We were recently asked some questions by a reporter for Personal Real Estate Investor Magazine.  Since I noticed I had not posted since February (yes, its been that long) perhaps this interview will make up for it!  This will be a long post and in the interest of time, I am just going to post our answers as they were asked by the ...

This is a follow-up to my last post on the $7500 tax credit for first time home buyers which has now been revised in the new Stimulus Bill just signed by President Obama. The amount of the credit has been increased to $8,000.  Here is how it works: First time homebuyers are entitled to a tax credit of 10% of the purchase price up to a ...

While I was conducting open houses this weekend, I had some interesting discussions with first time home buyers and agents about the $7500 tax credit offered by the government.  There was a bit of confusion and speculation about the $15,000 credit proposed by the U.S. Senate.  So as of today, here is an explanation of how the current ...

There was an article published in the Providence Journal yesterday that reported the results of the 4th quarter condo sales for 2008.  For closed transactions, the number of sales were down -17.4% and the median price -21.1% from $355,000 to $280,000.  Days on market increased substantially +65% to 141 days.  Not a pretty ...

What's selling in the Single Family Market on the East Side of Providence? Well, houses in good condition and priced under $450,000 - that is what's selling.  The point is that we have far too much inventory in the upper ends of the market and far too little in the lower end, first time home buyer market.  ...

So how did we do last year?   The Single Family Housing Market on the East Side of Providence experienced less severe declines than other areas of the State. In fact, for 2008, the Median Price of a Single Family Home was $486,000, up +3.8% over 2007.  From the peak of the East Side Market which was 2006, the single family housing ...

The Case for Listing Your House in the winter I am writing this as I am headed home from Los Angeles, where I spent a week in some of the most beautiful January weather they have seen there in a long time.  As I took walks in some of the neighborhoods, the air was fragrant, with flowers like roses, snapdragons, orange trees and magnolias in ...