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        <title>Newport RI Real Estate Blog</title>
        <link>https://www.hoganassociatesre.com/blog/hows-the-market/</link>
        <description>Read Hogan Associate's take on real estate trends and life in Newport, RI.</description>
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    <guid>https://www.hoganassociatesre.com/blog/energy-efficient-homes-in-newport-county-theyre-not-all-alike.html</guid>
    <link>https://www.hoganassociatesre.com/blog/energy-efficient-homes-in-newport-county-theyre-not-all-alike.html</link>
        <title>ENERGY EFFICIENT HOMES in NEWPORT COUNTY: They’re not all alike</title>
    <description> <![CDATA[ 
If you’re buying a new home in Newport County, it’s important to know how much energy it will consume. After a winter like this it’s nice to see the housing industry offering a Home Energy Rating (HER) for new construction homes. The HER certificate estimates the annual energy cost for new construction homes, and buyers are wise to ask their builder how homes stack up.


HER ratings range from 0 to 500. Zero is the best rating meaning “off the grid” or not using any energy at all.  500 means, well, let’s just say it could be very expensive to heat and cool a property with such a high rating.


WHAT’S NORMAL? 


Most older homes on Aquidneck Island fall into the higher end of the HER range.  New homes with more modern materials and mechanicals are better, but truly green built by certified Green Professionals can get you much closer to zero, and that will save money, keep you comfortable and – bonus – drastically reduce the need for exterior repair and maintenance.


ARE ANY LOW-HERS HOMES AVAILABLE IN NEWPORT COUNTY?


Yes Four new construction energy efficient homes are being built on Copper Beech Drive in Portsmouth. These four bedroom homes have many Green Building features that are far healthier for your family, your budget, your neighborhood and the planet.


As a passionate, certified green builder, I’ve got lots of details to share.  Give me a call and we’ll take a tour. 
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    <pubDate>Mon, 04 May 2015 14:26:00 -0400</pubDate>
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    <guid>https://www.hoganassociatesre.com/blog/newport-real-estate-market-in-2014-and-what-to-expect-in-2015.html</guid>
    <link>https://www.hoganassociatesre.com/blog/newport-real-estate-market-in-2014-and-what-to-expect-in-2015.html</link>
        <author>jeff@hoganri.com (Jeff Brooks)</author>
        <title>Newport, RI Real Estate: 2014 Recap &amp; Expectations for 2015</title>
    <description> <![CDATA[ 
2014 was another great year in real estate, not only in the US but here in Newport Rhode Island too.  A booming economy, stock market appreciation and a surprise in the mortgage industry with interest rates returning to low levels instead of rising, were just a few highlights of 2014. Here’s a quick recap of 2014’s Real Estate Market;


US Real Estate Market Conditions


The Case/Shiller Housing Index increased 4.5 Year over Year from October 2013 through October 2014. That’s a drastic slow down compared to the 13.6 increase a year earlier. As anticipated (see last year's recap) the price appreciation slowed down. The slowdown in price appreciation had more to do with the market equalizing, than with rising rates as previously predicted.  2014 was the year both buyers and sellers realized we were out of the depths of the housing crisis, but that we still have a ways to go.  


Existing home sales have continued to stay healthy, but are slowing down. In November, NAR reported existing homes sales volume was up only 2.2 over the past 12 months.  That’s a far cry from the 7.9 change from 2012 to 2013.  The news may say this is still a low number, but we’re finally in the range of sales volume we need for a healthy market to continue.


Newport Real Estate 2014;



Single Family Homes:


Newport single family home sales were steady through 2014. The median sales price increased more than 6.9  Inventory stayed relatively flat throughout the year, with volume up only 2.13. The Sales Price to List Price discount widened over the course of the year, but finally started to contract in the 4th quarter. This was due to accelerating list prices with sellers testing the market, then accepting a lower, more marketable price from buyers.   Days on Market continues to climb as sellers continue to feel more confident in the market and hold out longer for a better sales price. But inventory priced well is selling very quickly, many in less than two weeks.



Condominiums: Condos still lagged behind the single family market in Newport.  Though the absorption rate increased to 14 months from 11 months and sales volume declined by more than 11, Median sales prices were still up over 10 year over year This is most likely due to the increase in condominium projects across town over the past 2 years, while demand for condos in town continues to grow.  As consumer confidence in real estate continues to improve, the condo market will benefit directly.  2015 will be a much better year for condominiums in Newport.





Multi Families: The Multi Family market in Newport is in flux. Sales prices over the past year sky rocketed another 27.5 This is on top of the 23.4 increase the year before. That said, the absorption rate is up to 11 months from the 7 months of inventory we had in November 2013 suggesting some weakness there. This may be the result of higher inventory and owners listing at high prices, hoping to fetch a premium. 


I see price appreciation slowing down in 2015, which we can see as a good thing, steady growth trumps booms and busts. “Good inventory” will continue to see strong demand with investors seeking assets with higher yields than US treasuries. Reasonably priced inventoyr will sell incredibly fast - often in less than a week. So if you’re a buyer in this market, be ready to jump at a moment’s notice.


2015 Predictions;


Though most economists predict higher interest rates in 2015, the housing market should remain steady with some moderation in single family price increases.  Volume will stay even. High end real estate may see a slight slowdown due to the sky rocketing dollar making homes in the US less affordable to foreign buyers. If the rising dollar causes the FED to delay an interest rate increase due to deflation fears, we can anticipate another great year for US real estate with mortgage rates under 4.25.


All in all, 2015 promises good things for Real Estate assuming no major economic or geo-political events. 2015 will be the year both buyers and sellers view the market as a “good market” with increasing consumer confidence, rising incomes and lower unemployment.  Let’s see if my predictions prove true for another year. 
 ]]> </description>
    <pubDate>Tue, 20 Jan 2015 21:31:00 -0500</pubDate>
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    <guid>https://www.hoganassociatesre.com/blog/newport-county-ri-single-family-home-sales-infographic.html</guid>
    <link>https://www.hoganassociatesre.com/blog/newport-county-ri-single-family-home-sales-infographic.html</link>
        <author>leslie@hoganri.com (Leslie Hogan)</author>
        <title>Newport County RI Single Family Home Sales Infographic</title>
    <description> <![CDATA[ 
HOME SELLER ADVANTAGE: NEWPORT



Low inventory and strong demand gave Newport home sellers an advantage in November.  Other Newport County markets remain in &quot;Buyer Advantage&quot; territory but less dramatically than in previous months.  Foreclosure activity continues at a steady pace. The total number of homes sold was up 12 over last year, but average and median sale prices declined.
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    <pubDate>Fri, 05 Dec 2014 14:05:00 -0500</pubDate>
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    <guid>https://www.hoganassociatesre.com/blog/real-estate-infographic-for-newport-county-ri-june-2014.html</guid>
    <link>https://www.hoganassociatesre.com/blog/real-estate-infographic-for-newport-county-ri-june-2014.html</link>
        <author>leslie@hoganri.com (Leslie Hogan)</author>
        <title>Real Estate Infographic for Newport County RI, June 2014</title>
    <description> <![CDATA[ 
How's Newport, RI's Real Estate market?  


Well, it was pritt-tee impressive this past June.  Though all 6 Newport County towns are favoring buyers ever so slightly, the market's much closer to parity than it's been in years.  Inventory is on the rise, but homes are moving when they're priced competitively.  Do you know what your home is worth?  We do, and we would love to taik to you about it



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    <pubDate>Sat, 19 Jul 2014 21:55:00 -0400</pubDate>
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    <guid>https://www.hoganassociatesre.com/blog/3-lessons-learned-from-warren-buffets-take-on-real-estate-investing.html</guid>
    <link>https://www.hoganassociatesre.com/blog/3-lessons-learned-from-warren-buffets-take-on-real-estate-investing.html</link>
        <author>jeff@hoganri.com (Jeff Brooks)</author>
        <title>3 Lessons Learned from Warren Buffet's take on Real Estate Investing</title>
    <description> <![CDATA[ 
Investing in Real Estate? Lets ask Warren Buffett, the infamous investor worth billions who is commonly known as “The Oracle of Omaha”.  His insight in investing I’ve always found to be a very simple, easy and straight forward. This article delves into two real estate investments he’s made. Here’s a few points I walked away with;


-Ignore the outside noise and chatter

When we were in the depths of the Great Recession Mr. Buffett was buying up companies left and right, while the rest of the market went running for the hills. His Berkshire Hathaway holding company bought Prudential Real Estate as his method of jumping into the real estate market. But years ago, he made a few real estate plays himself, ignoring the noise around him, he focused on the future and existing income and made a seemingly simple decision.


 -Look at not only existing income, but future potential


Along with a few friends (we all wish we had friends like Warren’s don’t we?) he purchased a Manhattan mixed use building. The existing tenant had reduced rent, but he knew what the real rents should be. His investment made a few decades ago pays out his initial investment regularly. If you purchased a three family today and in your retirement were able to collect the purchase price as income annually, would you worry about the surrounding present day marketplace as much? There are few investments you can rely on as heavily as a real estate investment.


 -You don’t need to be a savvy investor to be successful; you just need to be patient


If you’re looking to make a quick buck in real estate without any risk you’re going to be in for quite the surprise.  Real returns are found overtime. Especially so in real estate.  As you collect income off the property and pay off debt, you’ll experience one of the best investments of your lifetime.


Warren made out handsomely on his investments.  No investment is risk free in this world, especially when there’s reward involved. We just need to approach it with the simplicity that Warren suggests.  Present incomes don’t always justify present value. Ignore all the buzz around you and focus on the specific investment. No matter what the market does 1, 5, or 20 years from now, there will always be a finite amount land and people will need a place to live, work and play. If the potential is there and your patience can warrant it, real estate is always a great investment.


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    <pubDate>Mon, 05 May 2014 10:13:00 -0400</pubDate>
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    <guid>https://www.hoganassociatesre.com/blog/a-property-through-the-owners-eyes.html</guid>
    <link>https://www.hoganassociatesre.com/blog/a-property-through-the-owners-eyes.html</link>
        <author>emily@hoganri.com (Emily Chappell)</author>
        <title>Life on the Water: A Homeowner's View from Tiverton, RI</title>
    <description> <![CDATA[ 
We write a lot about RI waterfront homes, but sometimes it's nice to hear from people who actually live in them.  Here's one owner's take on the pleasures of living at 1601 Main Road in Tiverton - a pretty enticing deal at $895,000.


 “My husband and I bought the property at 1601 Main Road (then a summer cottage) in 1996 when two of our three children were still in high school – both avid sailors. We fell in love with its immediacy to so many things:  water play of all kinds right off our own dock – swimming, sailing, kayaking; early morning light climbing the houses and boat yard across the Basin, at night the lights of the Mt. Hope Bridge in the distance, and the Sakonnet River Bridge to the North; spectacular sunsets; and, the ability to watch the life on the Basin from within the house and the deck, which runs the length of the house 17 feet above over and above the water. As a result, we built the existing structure to make it our year-round family home in 1999.


It remains a wonderful experience first to catch a glimpse of the Tiverton Basin as we open the entry gate, then to have a 180 degree-plus vista up and down the Sakonnet greet us as we enter the front door;  guests new to our home often emit a “Wow” as they first come upon this scene.  In the late spring and summer we enjoy leaving open the French doors going onto the deck, making the deck another “room” in the house in which to sit and experience the weather and the views.  And, in the winter, no matter what blustery, cold, snowy or stormy weather is occurring outside, the house is snug and warm inside, a cocoon from which to safely observe nature’s goings-on.  The joy I, as a photographer, take in recording the changing seascape remains unabated.


Over the years this house has been a wonderful place for all sorts of social events, capable of housing throngs of people on its various levels with no sense of a crowd. Children, grandchildren, all ages, have enjoyed this unique place and all it offers.”


 
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    <pubDate>Tue, 15 Apr 2014 13:22:00 -0400</pubDate>
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    <guid>https://www.hoganassociatesre.com/blog/newport-county-ri-infographic-march-2014.html</guid>
    <link>https://www.hoganassociatesre.com/blog/newport-county-ri-infographic-march-2014.html</link>
        <author>leslie@hoganri.com (Leslie Hogan)</author>
        <title>Newport County RI Infographic, March 2014</title>
    <description> <![CDATA[ 
Newport County's Single Family Home Stats for March 2014  


One quick note:  While the market is favoring Buyers in the aggregate (Newport, Jamestown, Middletown, Portsmouth, Tiverton &amp; Little Compton), Middletown moved into Seller territory this month providing a slight advantage to Sellers.  Low inventory and high demand are pushing this metric up in Middletown.  That's a first since the market started  recovering.
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    <pubDate>Sun, 13 Apr 2014 09:24:00 -0400</pubDate>
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    <guid>https://www.hoganassociatesre.com/blog/buying-to-flip-a-few-things-to-know-for-a-diy-project.html</guid>
    <link>https://www.hoganassociatesre.com/blog/buying-to-flip-a-few-things-to-know-for-a-diy-project.html</link>
        <title>Buying to Flip: A Few Things to Know for a DIY Project</title>
    <description> <![CDATA[ 
BEFORE


 


Here’s a happy house-flipping story to start your weekend off right. 


Fixer-uppers are not for everyone, but this little gem in Middletown is a Cinderella story worth sharing:




It started with a closing on a sad little house in need of major TLC. It ended 2 months later with a 7-day listing, a full price offer and an exhausted, but happy Seller.


Time and Effort are the life blood of flips. They must look brand new. When they do, people buy them. It’s that simple. If you plan to do it yourself, get ready for some aches and pains. If you do it right, however, the rewards can be great.


Location is key for a successful flip. This one was on the Middletown Newport line near parks, restaurants and coffee shops. Once the location checked out, we calculated the cost of the work. After running the numbers we knew it could work for our Buyer, a serial do it your selfer who had the skills to do much of the work himself.


AFTER


So the moral of the story is if you’re not afraid of REALLY hard work, you have a knowledgeable agent to help you buy at the right price AND sell at the right price, you could have a happy ending too


Call us anytime. We’re good at this. Really.


 ]]> </description>
    <pubDate>Fri, 11 Apr 2014 12:43:00 -0400</pubDate>
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    <guid>https://www.hoganassociatesre.com/blog/newport-county-real-estate-infographic-january-2014.html</guid>
    <link>https://www.hoganassociatesre.com/blog/newport-county-real-estate-infographic-january-2014.html</link>
        <author>leslie@hoganri.com (Leslie Hogan)</author>
        <title>Newport County Real Estate Infographic, January 2014</title>
    <description> <![CDATA[  ]]> </description>
    <pubDate>Wed, 05 Feb 2014 19:39:00 -0500</pubDate>
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    <guid>https://www.hoganassociatesre.com/blog/newport-real-estate-market-report-2013.html</guid>
    <link>https://www.hoganassociatesre.com/blog/newport-real-estate-market-report-2013.html</link>
        <author>jeff@hoganri.com (Jeff Brooks)</author>
        <title>Newport Real Estate Market Report 2013</title>
    <description> <![CDATA[ 
Real Estate in Newport RI, much like the rest of the country, had a great year.  But how did Newport fare alongside the rest of the nation?  Here’s where we stand on 2013.  


Nationally and in Rhode Island:


The Case/Shiller National Index, an index of national home prices, experienced a 10.06 increase year over year through September 2013.  That’s the largest 12-month gain since March of 2006  Rhode Island median home prices appreciated 10.48 with an 18.9 increase in volume The increase in volume is a strong sign of a strengthening market.   


 Single Families – Newport, RI







 Newport’s median price appreciation lagged behind the national and state average with a price increase of only 2.1.  That said, Newport dwarfed the rest of the state with a whopping 25.9 increase in the number of single family homes sold since 2011. 


Multi Families – Newport, RI



Newport sales volume is up 51.8 As mentioned in my blog from last year, we’ve certainly made a turn and volume is the indicator. The increase in volume coupled with slower price appreciation shows just how strong and healthy Newport’s market is by maintaining steady prices while still increasing volume.


 The Newport Multi Family market has boomed this year with investors seeking higher yields on their money.  Volume is up only 5.9 for this year, but since 2011, volume has increased 63.3.  Median sale prices for Multi families went through the roof this year - up 23.4 It looks like investors are willing to stomach a smaller return on their investment to take advantage of cheap financing and inexpensive inventory.


 Condominiums – Newport, RI


 Newport Condominiums have been on a steady increase with a price appreciation of 16 and volume is up 12.2.  This trend suggests strong improvement in the second home market - great news for home owners here in Newport


 What to expect for 2014


While inventory was the real estate catch phrase in 2012 and 2013, interest rates will be the driving factor in 2014.  With the FED’s tapering of Quantitative Easing starting in January, interest rates will climb steadily in the near term.  This rise in rates will slow down national price appreciation but not completely stop it.  I feel volume will continue to rise as people take advantage of the still historically low rates.  While 2014 may be a plateau, it will still be an excellent time to buy, and all indications point to another great year for RI real estate  If you’d like to take advantage of market conditions now, call or email me or any one of our highly qualified agents. 




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    <pubDate>Tue, 14 Jan 2014 19:47:00 -0500</pubDate>
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