Found 2 blog entries tagged as ri real estate market.


A great 2013 Buying Opportunity in Portsmouth, RI

Everyday RI homebuyers ask, “Should I buy now, or should I wait for a better deal?"  

These days my answer is decisive: “NOW is the time.”  

Coming from a real estate broker, these words can seem like a sales pitch - a canned response suitable for any market.  I am writing today to give you facts to back up my opinion.  I hope, 10 years from now, someone who bought a house after reading this blog will thank me for pushing them over the edge.  I imagine how happy they will be with a 3.5% mortgage on a low purchase price negotiated during one of the strongest buyers' markets of our lifetime.  Ten years down the road they will have significant equity in their home, and this will give them the freedom to…

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Photo of Punxsutawney PhilPunxsutawney Phil - Correct 40% of the Time

"Is this the bottom?" the buyer asked.

"Yes." I replied. "Yes, it is, and there will be 6 more weeks of winter too." Like Punxsutawney Phil, I make predictions at this time of year. Unlike Phil, I actually consider the indicators.  I'm pretty confident I can best his 40% success rate. (source: National Climatic Data Center)

Here are a few reasons I believe we may actually be at or near the bottom - offered with WAY more authority than Phil's suggestion of a prolonged winter.

1. In 2011 outstanding mortgage balances went down $30B every month. Steady, sustained improvement means momentum. Momentum is what pulls you out of troughs like this.

2. Job gains are accelerating. January brought 243,000 new…

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