Rhode Island Bank Owned Homes

Rhode Island bank owned homes can be found in numerous towns and neighborhoods in this desirable state, from the county seat of Bristol to the coastal town of Warwick and the capital of Providence. Bank owned homes can be a great way to get exceptional value for your new home, so you can live in one of these highly sought after areas at a reduced cost.

Property typical of Rhode Island Bank Owned Homes

Rhode Island Bank Owned Homes Real Estate Stats

Average Home Price $347K
Lowest Priced Home $1K
Highest Listing Price $700K
Total Property Listings 36
Avg. Days On Market 46
Avg. Price/SQFT $238

Property Types (active listings)

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Rhode Island Bank Owned Homes Real Estate

Rhode Island bank owned homes for sale are numerous and varied, from commercial properties that can be converted into a multitude of uses to more residential homes situated in a number of areas. 

These homes provide potential buyers with the potential to live in some of the most well regarded areas in the beautiful state of Rhode Island for cheaper than purchasing from a current owner. 

Rhode Island Real Estate Information

Rhode Island is full of things to do, from its many sandy beaches and rocky shores on the coastline to the numerous historical sites inland, there’s no wonder so many people are proud to call this diverse state home. 

Consisting of numerous quiet Colonial towns as well as bustling metropolises such as Providence and Newport, Rhode Island residents love being close to some of the largest cities in the northeast United States, sitting right between Boston just an hour to the north and New York City four hours to the west. 

Rhode Island real estate is situated on miles of coastline, so it’s no surprise this area has earned itself the nickname of the “Ocean State.”

Sailing in Rhode Island

One of the most infamous pastimes of Rhode Islanders is sailing, with personalities such as John F. Kennedy famously navigated these waters in his presidential yacht.

From sightsailing, to chartered yachting, to sailing regattas, Rhode Island residents love to get on the water. 

And with so many famous bays such as Narragansett and Chesapeake, the breathtaking views of Rhode Island's coastal and beach areas are sure to entice homeowners for years after they set foot in their new home for the first time.

Are Bank Owned Homes Worth It?

The short answer to this question is that it really depends on many unique factors of each individual property. 

While many bank owned homes can save you lots of money in the long run, some can look like great investments, but turn out to be duds that end up costing you more money. 

The key to getting a great deal on a bank owned home is to make sure you’re working with experienced real estate agents that specialize in this unique property type. 

With years of experience in the Rhode Island real estate market, Hogan Associates can help alleviate some of the uncertainties of these purchases and put your mind at ease.

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