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        <title>Newport RI Real Estate Blog</title>
        <link>https://www.hoganassociatesre.com/blog/tags/market-conditions/</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/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-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. 




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