SOLD! Southern RI Housing Stats

While housing markets across the country have seen double digit increases in housing sales, RI has seen only a 1% increase. RI, unlike other states was not hit as hard by the housing bubble of 2008. In southern RI the second home market and demand of homes cushioned the housing market somewhat.

From June to August 6 homes in Richmond, Charlestown and Hopkinton were sold in the price range of $100,000 to $200,000. This is the typical “bottom of the market” or first time home buyers range for these towns. This number excludes short sales.

What is interesting about these numbers is the number of days these homes were on the market. The longest was 62, the shortest was 1. Not only are homes in this price range selling, they are selling very quickly. The average was 23 days on the market.

For sellers this means pricing a home in this range may lead to an expedited sale. Good news for those who may want to move before the start of the school year, or who want to move quickly. For sellers who are priced slightly above this price range, a price reduction may help sell their home.

Buyers in this price range will have to keep up to date on this market. With homes selling quickly buyers need to be ready to view them, have their mortgage commitment letters ready and be ready to make an offer quickly.

Are you or is someone you know looking at homes in this price range? If so they need an agent who understands this market and will help them meet deadlines and get ready to put in an offer that may get accepted in this competitive market.

"It's Hot" Summer Activities

Local weather forecasts call for 3 consecutive days in the 90's. Inevitably, the proclamations "I'm hot" or "I'm bored" will be uttered by children and adults. Here is a list of some fun and cool places to take the family or friends that will put an end to those hot day statements.

Fresh Water swimming at Burlingame. The park has an active duty lifeguard from 9:00 am to 6:00 pm. There are picnic tables available and a beach. According to the State of RI Parks and Recreation, Burlingame manager parking is free at this area, but there is a $2.00 fee to use a picnic table. It is located off Sanctuary Road in Charlestown, RI.

Burlingame Swimming Area

Map Courtesy Google Maps

 

Local libraries have air conditioning and it is a great way to get a jump start on summer reading. Most have internet access and summer  programs for children. Every town in Southern RI has a library. For library links see below.

Strawberry picking at local farms. Local farms like Schartner Farm offer pick-your-own strawberries, but the season is almost over so hurry! Schartner Farms is located at One Arnold Place in Exeter, RI 02822, directly off route 2.

These activities should help anyone who has to answer, "I'm bored" or "I'm hot." There are so many summer activities in southern RI so take advantage of living here most of these activities are free or relatively inexpensive. 

Here are some great web sites for more information.
riparks.com
schartnerfarms.com
langworthylibrary.org
clarklib.org
crossmills.org

Southern Rhode Island Real Estate Buzz

Can you feel it? It is a low and underlying buzz. If you work in real estate full-time the buzz is almost deafening. Real estate is making an exciting comeback.

Buyers are getting loan approval and getting into a market that is offering a variety of housing choices. Desirable properties are getting multiple offers and some are selling for higher than the listed price. For more information on those properties see my blog post entitled, “Richmond Market Analysis Report.”

Overall the market has seen an increase in home prices with a month-to-month slight uptick. It has seen the most sales activity in 3 years. According to the National Association of REALTORS, home sales are at the highest they have been in 3 years.

For the consumer this means now is an advantageous time to get into the market. Lower home prices are great for buyers. Home prices are still below what they were at the height of the housing market, but homes that are priced properly are selling relatively quickly and may even have multiple offers.

If you would like more information about the southern Rhode Island real estate market contact me at Rebecca@browngrouprealty.com

Rural Southern Rhode Island MOO-Naure Ordinances

MOO-nure, it’s smelly, sometimes slimy, wet and dry, colorful and constant. No one likes to talk about manure, but for rural Rhode Island residents who own or tend livestock, it is a daily (sometimes twice daily, who am I kidding, multiple times a day) reality.

Cows From Behind

For those dealing with the other end of life, here in the bottom end of the state understanding town ordinances about “it,” can at the very least keep homeowners out of trouble and in their neighbor's good graces.

Believe it or not, each town has several ordinances involving the care, removal, management and storage of manure; or as I like to consider it, future compost.

According to the town of Richmond, in the manure ordinance 6.18.010, manure ordinances are for livestock . The town's definition of livestock includes such public offenders as cattle, cows, sheep, horses, ponies, mules, burros, donkeys, goats, llamas, alpacas, rabbits, chickens, roosters, turkeys, ducks, geese, guinea fowl, pea fowl, peacocks, ostriches, and emus, as an accessory use to a principal residential use.  

Meanwhile, wild animals are free to use the world as their toilet.

2 other ordinances that impact manure storage are listed below.

6.18.020 General standards.  The following standards apply to any parcel on which domestic livestock are kept. 

 

A.  Areas where domestic livestock are kept shall be managed in a manner that minimizes dust, odor, and vermin.

 

B.  Stormwater runoff from all areas where domestic livestock are kept and where manure is stored or composted shall be directed away from wetlands and wells on the parcel where the domestic livestock are kept and away from wetlands and wells on adjacent parcels. 

(Ord. dated 6-7-11)

 

6.18.030 Manure management.  Manure shall be stored or composted in the following manner:

 

A.  Manure shall be stored or composted at least fifty (50) feet from a lot line, one hundred (100) feet from a well, and two hundred (200) feet from a wetland or stormwater drainage feature.

 

B.  Manure storage or composting areas shall be visually screened from residential uses on adjacent lots.

 

C.  Manure shall be stored on an impermeable surface and shall be protected from precipitation by a cover to prevent surface runoff over and around manure piles to avoid contamination of surface and ground water.

 

Manure is not a pretty or sexy topic (I can't believe I just used the word "sexy" in this post) but for those who live in rural southern RI or those who want to, it is an everyday reality. Knowing and understanding town ordinances will hopefully keep homeowners out of trouble and in the good graces of their neighbors.

 

For more information contact the local town hall.

 

Richmond Town Hall website

Southern Rhode Island Tax Rates

While holding an open house in the town of Charlestown, RI I was talking to a couple who asked a frequently asked question, “What are the taxes on this house?” I told them and they were amazed at the difference. The couple lived in a home in West Greenwich, RI a town whose tax rate is more than double that of neighboring Charlestown

That led me to compile a list of town tax rates and have them readily available. Taxes are fluid, can and do change.

These numbers provided reflect those of towns from the year 2012. It is important to note that they are a dollar amount per thousand and that land and “improvements” are calculated separately then added together.

When purchasing a home it is important to note that taxes will be included in mortgage calculations. Principal, interest, taxes and insurance are part of the complex mortgage formula. When getting pre-qualified for a mortgage ask the lender about taxes and how much they might impact purchasing power.

Town/$ per Thousand of Assessment (Lowest to Highest)

Charlestown - $7.48
Exeter - $13.49
Richmond - $14.99
Hopkinton - $15.69
West Greenwich - $18.74