Barrington, RI Real Estate News

By Michael Dutra
(Peoples Home Loans)
Keeping you updated on the market! For the week of July 18, 2011 MARKET RECAP Are we there yet? Any parent is familiar with this repetitive question from a restive child during a long car ride. Many adults have taken to asking the same question, wondering if the three-year roller-coaster ride that has been the housing market has ended. We tend to think that the road has flattened and that the housing market is poised for a rebound. We are encouraged because prices in many markets continue to firm. The latest news on prices, from Altos Research, shows that the median national home price for the 26 markets Altos covers rose to $450,358 in June, up from $444,273 in May. In the past three months, listing prices have risen 2.3 percent. Altos also reports that inventory levels increased 3.5 ...
Comments 2
By Michael Dutra
(Peoples Home Loans)
Keeping you updated on the market! For the week of July 4, 2011 MARKET RECAP Are we looking at the making of a new trend? Last week, the FHFA home price index posted a modest gain. This week, the Standard & Poor's/Case-Shiller home price index showed that prices rose in 13 of the 20 cities it tracked in April. The index, which covers metro areas that include about 50 percent of U.S. households, rose 0.7 percent, posting the first increase since July 2010. We've often been dismissive of the Case-Shiller index when the data were negative, so we won't become overly optimistic when it is positive. The fact is that for economists, analysts, and market traders looking at macro trends in the housing sector, the Case-Shiller index might provide some value; for any particular local market, thou...
Comments 1
By Michael Dutra
(Peoples Home Loans)
  Keeping you updated on the market! For the week of June 27, 2011 MARKET RECAP When transactions are your livelihood, it can be difficult to muster a smile when there are fewer of them. There were fewer transactions in existing-home sales, which fell 3.8 percent to a 4.8 million annualized rate in May. Supply on the market, at 3.72 million units, is falling, but not enough relative to the sales pace, as inventory rose to 9.3 months versus April's 9.0 months. Price stabilization was the positive takeaway, with the median sales price rising to $166,500. Another plus is that sales of single-family homes, the central component in the report, fell at a slower rate at 3.2 percent. Floods and tornado-ravaging storms in the Midwest were mitigating factors. Blaming the weather is often the easy...
Comments 1
By Michael Dutra
(Peoples Home Loans)
    Keeping you updated on the market! For the week of June 20, 2011 MARKET RECAP It was announced this week that the homebuilders' sentiment index unexpectedly tumbled to 13 in May from 16 in April, posting the biggest drop in a year. This time around, homebuilders weren't feeling dour for the usual reasons – distressed properties and falling prices. They were feeling dour because of soaring material costs. The National Association of Home Builders reports that copper prices are up 23 percent from a year ago, insulation is up 6.25 percent, while asphalt paving and blocks are up 4.5 percent. Rising input costs coupled with increased pricing pressure isn't the most favorable paradigm for operating a profitable business. However, there are a few positive fissures forming in the homebuilde...
Comments 2
By Michael Dutra
(Peoples Home Loans)
Keeping you updated on the market! For the week of June 13, 2011 MARKET RECAP Negative equity pushed aside home price trends as the hot topic this past week. CoreLogic, which had a lot to say the previous week on prices, also had a lot to say about negative equity. CoreLogic reports that 22.7 percent of all U.S. homeowners owed more than what they owned at the end of the first quarter of 2011 (which is actually an improvement from the 23.1 percent posted in the first quarter of 2010). CoreLogic states that 10.9 million borrowers are underwater and another 2.5 million borrowers are in a near-negative equity position, defined as having less than 5-percent positive equity. We are obviously on the inflated end of the negative-equity scale, considering that CoreLogic was reporting 7.5 milli...
Comments 2
By Michael Dutra
(Peoples Home Loans)
Keeping you updated on the market! For the week of June 6, 2011 MARKET RECAP Have we really regressed to 2002? That's what we are being told by the S&P/Case-Shiller home price index, which claims national home prices have fallen to 2002 levels. According to Case-Shiller’s monthly index for March (it’s actually an average of three months), national prices have double-dipped, declining 4.2 percent in the first quarter, thus, returning us to 2002 price levels. However, have we really gone back to the future? A day after the Case-Shiller home price index was released, CoreLogic released its own home price index for April (also a three-month average). CoreLogic's index shows that home prices increased 0.7 percent between March and April – the first increase in the index since the homebuyer ...
Comments 2
By Michael Dutra
(Peoples Home Loans)
    Keeping you updated on the market! For the week of May 31, 2011 MARKET RECAP We dabbled a little in economic theory last week, noting that more inventory produces lower prices and more sales. This week, the opposite occurred: less inventory produced higher prices, but also lead to more sales. We are speaking of sales of new homes, which jumped 7.3 percent to a higher-than-expected annualized rate of 323,000 units. Strong sales drew down supply to 6.5 months from 7.2 in March. Here's the economics at work: Lower supply is firming prices, with the median price of new homes up 1.6 percent to $217,900. Year-over-year, the median price is up 4.6 percent. The lesson here is that the laws of supply and demand remain unbreakable. Pricing has been the overarching headache since the beginning...
Comments 1
By Michael Dutra
(Peoples Home Loans)
    Keeping you updated on the market! For the week of May 23, 2011 MARKET RECAP We suspect that there are a few businesses tougher than the home-building business these days, but we are hard pressed to think of any. The homebuilders likely agree, given the homebuilder index remains at a depressed 16 reading for May. Homebuilders continue to report lousy conditions. They blame competition from distressed sales, which made up 39 percent of the homes sold in the first quarter, as well as unavailability of construction credit for their woes. What's more, sales of distressed homes also pressure prices of existing homes, which means new home sales have been crimped further by buyers unsure that they will be able to sell their existing home at a favorable price in order to trade up. Homebuild...
Comments 0
By Fred Doleac, Real Estate in a Virtual World
(Fred Doleac - Bean Group)
Barrington Rhode Island Residential Market Activity - Year to Date (10/31/2009) There were 138 single family residences sold YTD in Barrington, RI, with an average sales price of $429,834 and an average days on market of 117. The selling range was a low of $115,000 and a high of $4,794,181. The number of homes sold increased since 2008 from 131 to 138 units. Virtual Homes Real Estate provides search tools to asist you in learning about the community, listing and market conditions. Click on the following links for your choice of services. Barrington RI Real Estate - Community, relocation and school information with town demographics. Barrington RI Foreclosures - Obtain a list of foreclosed and bank owned real estate and short sales Barrington RI MLS Search - View all listings in the stat...
Comments 1
By Jason Potrzeba, Mortgage Banking Officer
(Webster Bank)
Police nab pill bottle bandit in Barrington East Providence woman would go to open houses and allegedly steal medication By Josh Bickford BARRINGTON - Police say they arrested a 50-year-old woman who spent the last two to three years going to real estate open houses in East Providence and Barrington and stealing medication - mostly painkillers - from bathroom cabinets. Linda Grablink, of 214 Riverside Drive, faces three counts of larceny under $500 and one count of larceny over $500. She was charged on Sunday, June 7. Police became aware of the situation in January, when a real estate agent in Barrington said a woman came to the open house she was hosting and spent an inordinate amount of time in the home's bathroom. The individual left the open house shortly thereafter. The agent said ...
Comments 0
By Lana Drew
(RESIDENTIAL PROPERTIES, LTD.)
HI ALL! CRAZY ABOUT DOGS, BUT THIS BREED IS FANTASTIC!!!  
Comments 0
Explore Barrington, RI
Barrington, RI Real Estate Professionals