Bowen's Wharf, Newport, 10/29/12

RI FLOOD INSURANCE UPENDED

Flood risk across the country, particularly in coastal areas like Newport, RI is on the rise.  The Beggert-Waters Act of 2012, resulted in the redrawing of all flood insurance rate maps to reflect current elevated risks.  As a result, some properties that have never needed flood insurance are now in high risk zones, some properties are no longer insurable at all, and flood insurance rates are skyrocketing.

WHY IS THIS HAPPENING?

The Federal Government's flood insurance program has lost $19 billion in recent years. To continue to have a viable flood insurance program, the government plans to make those who have the risk pay for it.  As a first step, all of the flood maps are being…

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Hogan Associates’ Broker, Matt Hadfield, wanted to do something more this year than simply sponsor a family over the holidays. He wanted to do something in the spirit of giving the whole year through. Earlier this year, he came up with the idea of "Project Re-Give". The goal of Project Re-Give is to collect unwanted or duplicate holiday gifts and donate them so that resident's of Lucy's Hearth may receive presents to celebrate birthdays and other milestones throughout the year. 

How it Works: Instead of returning an unwanted or duplicate gifts, we are asking people to donate these gifts to Project Re-Give. We are not asking for anyone to go out and purchase gifts, simply to donate gifts that they may not otherwise return. Items are being…

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Thinking about a Rhode Island Condo purchase? Condos are convenient and cost effective but they come with certain fees you need to understand. Condo fees serve a purpose for property owners, even if no one likes paying them. When allocated properly, condo fees are a cost effective way to maintain and add value to your property.Newport Condominium

Here’s what they cover:

-Capital Reserves:  Some associations have minimum reserve requirements.  Your capital reserve is essentially a forced rainy day fund. It covers things like insurance deductible payments, unexpected repairs and capital improvements. It’s there to keep things running smoothly and to avoid the need for a special assessment.  The higher the association’s capital reserves, the easier the units are to sell,…

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Hogan Associates Real Estate has just reduced the price on the Seafare Residences, creating an exceptional opportunity for first time homebuyers to enter the Real Estate market and own a home of their own. Entry-level townhomes start at just $189,000. 

For the empty nester looking to downsize, the newest models will offer much sought after first floor master suites. The newly constructed condominiums feature: garages, central air conditioning, full basements, decks and fenced in patio areas.

 Work on the landscaping has just begun and soon Seafare will feature open green areas and tree lined streets. 

 For more information, please visit: www.seafareliving.com 

 

 

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The Government Shutdown may affect Real Estate over the coming weeks. Perhaps not market values, but existing transactions, and buyers looking to make offers.  Being a Realtor, I’m certainly not furloughed and neither are most other private sector jobs.  But in a community like Newport RI, it may end up affecting us more directly than we’d like.

 

Nearly 900,000 federal employees were told not to come into work on Tuesday.  That’s nearly a third of all persons being paid directly by the US.  These people include members of the DoD, National Parks, Memorial Administration, FHA and IRS.  Since 1975 there have been 17 government shutdowns, averaging nearly a week. Ranging from 1 to 21 days each.

 

How it Affects Newport County:

 

Here in Newport…

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Class A office and retail space is now available in Newport. Located in the heart of Newport's wharf district, 10 Brown & Howard residential, retail and office development is nearing completion. Marketed by Jen Pierik and Matt Hadfield of Hogan Associates Real Estate, the first office condo sale came in at full asking price prior to being put on the market. The 1750 sq ft office space is the first of the seven Office/Retail condos to be put under agreement. With a high demand for newly constructed Class A Space, it is not surprising a sale happened so quickly. Local developer, Mark Bard, who had the vision to develop the site, knew Newport needed a building like 10 Brown & Howard. Based on the response from perspective buyers, Bard was absolutely correct.…

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John Bliss House c. 1680

Historic homes abound in Newport, RI, but the John Bliss House is a real stand out, and it's FOR SALE!

Historic John Bliss House, c 1680, is widely regarded as Newport, RI’s oldest existing home – an architecturally significant Stone Ender Colonial, built by Quakers.  A true Antique! The structures’ signature feather is its Stone Ender Fireplace, a massive focal point of the interior. The Stone Ender Chimney occupies the whole North facing wall protecting the farmhouse from the cold north air. The chimney has 2 FP’s on first floor, and two more on the second floor.  There are two very larges fire places, each  8' wide, and one with a Beehive oven for baking.  These fireplaces, especially the dining room fireplace, would have burned wood 24/7 for…

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Waterfront real estate in Newport County is as good as it gets for summer vacation homes.  For many buyers, however, sticker shock can get in the way.  Don’t lose hope!  Take a step back and consider the advantages of only a water view?  Walking distance to the beach is almost as good, right?  Or maybe you’re just looking for a place to get away.  Here are a few helpful tips to help in your search and get you into a life-enhancing beach home for less!

-Search a bit further from the beaches than you typically would

            Most “beach homes” are on the water or within a ¼ to ½ mile of the beach, but these are in high demand, making them much more expensive.  But if you search just a tad further you can find a much better deal and only have to…

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Bailey's Beach215 Coggeshall Rd. Just 4 doors from Bailey's

Beach houses come in many shapes and sizes in Newport, RI.   Mansions adorn our coastline, condominiums overlook the harbor, and summer cottages line sandy roads leading to Hazards, Gooseberry and Bailey's Beaches off Ocean Drive.  While all offer the promise of lazy days on the shore, few can match the location, condition and charm of this restored bungalow on Almy Pond.

Not only is this newly renovated cottage on a pristine estuarial pond teeming with wild life, it's also just four doors away from Bailey's Beach, one of the most beautiful and exclusive beaches in the Northeast.  One part of Bailey's is a very private club, but the eastern end is a scenic stretch of sand accessible to neighbors by foot or…

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I am proud to announce I’m officially a homeowner. Finally!  I’ve been practicing real estate for nearly four years with the goal of purchasing my own
little slice of island paradise.  It was quite the experience for me to sit at the other end of the closing table; to sign that stack of papers, and feel what dozens of my buyers have undergone.  Here’s a bit about my experience:

 The Right Realtor

 I found the best realtor in town for me.  That was, of course, me, because I understand my needs and wants.  I wanted a multi family - 2 or 3 units, but at times I considered a single family I could turn around myself.  It can often be good to view products outside of your original needs and wants. This helped me realize my original decision for a two…

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