C. C. and Chris Wall Providence RI Real Estate

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 ...

Recently we suggested that a seller who is putting their house on the market in the next few months do a pre-listing inspection.  Granted, the house is in great shape, so it came as a surprise that we would recommend this.  The current owners wondered whether or not the potential buyers would trust the report since it would be coming ...

Could Housing be close to a bottom? While I don’t like to overly dwell on National numbers, there was one statistic posted from a credible source I felt worth sharing. Business Week recently reported an interesting statistic from the Case-Shiller Home Price Index.   Case Shiller cites that in some key large cities, the price of ...

It's a good time for buyers  who have waited to purchase property. Rates are now at a 4 year low on 30 year mortgages, averaging 5.47%.  The rate has not been lower since March of 2004 when the rate averaged 5.40%.   What does this mean? For borrrowers with credit scores of 740 and above, the rate is even lower, at ...

Thinking of selling now or in the future?  Every day that goes by in a declining market, a property loses a bit of its value.  So the longer the property is on the market, the more the seller is chasing the market down.  A property must be priced right from the very beginning or risk becoming stale and simply not selling at all. A ...