A recent Zillow analysis concluded that 14% of today's renters are in a qualified position to buy a house.This Zillow study also suggested that because of tight inventory, steep competition and higher prices many  potential buyers were remaining renters.I wonder what the other 86% of renters are up to, how can more of them shift to the qualified side and be in a position to go to a purchase and sales agreement...Perhaps looking at a multi family could make the affordability part of the equation easier to manage. Plus big picture this investment could provide cash flow for years to come, even as the buyers move on to the next property. The multi family could be something they keep.There is also a compelling reason for younger adults to stay at home with Mom and Dad for another period of ... 08/15/2016

Down payment assistance for first time home buyers in Rhode Island.There is currently a new down payment assistance program available to first time home buyers in Rhode Island available through RI Housing or through a participating lender in their network.There is 2.7 million available from the US department of treasury's hardest hit fund and for a qualified buyer and property there is up to $20,000.Income limits for the first time home buyer are $89,280 for 1-2 borrowers and the income limit for 3 or more is set at $104,160.For a property to qualify it has to be in one of the approved towns or cities and the property has to have had one of the following qualifying events... Been in foreclosure, receivership, transferred by deed in lieu of foreclosure or had been approved by short sale ... 02/24/2016

How does a rehab loan work.As a commercial mortgage broker this is a common question I hear. More specifically the question is really about how does the borrower get their funds to rehab their property. A commercial rehab loan can work several different ways.With the big picture there are two basic ways the funds are released. The loan can pay as you go or the loan can pay as you need. Depending on the borrowers financial position and cash on hand one of these options may not work, pay as you go.Pay As You Go. With this pay out method funds from the rehab loan pay out after the work has been completed and inspected to satisfaction by the lender. If a borrower does not have the cash on hand to tackle a specific rehab phase without the cash advance this could be a challenge. They would ha... 12/26/2015

What does the SBA 504 loan offer?Here is a brief summary of what the SBA 504 loan might do for you. Similar to the SBA 7(A) loan but a little more selective on what it is allowed to lend against. Purpose - Real estate purchase/construction. Purchase machinery or equipment.Loan - Up to $10,000,000.Collateral - Commercial real estate, equipment, machinery.Term - Varies, up to 25 years.Rate - Fixed or variable.Eligibility - Owner operated. (No C-stores, gas stations or hospitality).Loan to value (ltv) - Varies, up to 90%. When looking for a new commercial mortgage, consider speaking with a commercial mortgage broker who should be able to give you several loan products to think about. Jason    12/19/2015

Here is a brief summary of what the SBA 7(A) loan might do for you. Purpose - Working capital, refinance, business acquisition, real estate purchase/construction. Purchase inventory or equipment.Loan Amounts - $350,001 to $5,000,000.Collateral - Commercial real estate, inventory, FF&E (furniture, fixtures and equipment).Term - Varies, up to 25 years.Rate - Fixed or variable rate.Loan to value (ltv) - Varies, up to 90%. When looking for a new commercial mortgage, consider speaking with a commercial mortgage broker who should be able to give you several loan products to think about. Jason   12/19/2015

Has your commercial mortgage been turned down by the bank?If you've recently applied for a commercial mortgage at a bank and it was denied, there still might be a commercial mortgage out there for you.Many banks keep to strict guidelines and if your situation is unique and falls outside their guidelines, the commercial mortgage you need may require looking for an alternative to a traditional bank.The benefit of working with a commercial mortgage broker is that it gives you access to multiple lending outlets which gives you a greater chance of finding a commercial mortgage that works for you.If you are in Rhode Island, Massachussetts or Connecticut I invite you to give me a call, whatever your situation. Jason  12/19/2015

   It's an Active Real Estate Market in East Providence, RI 02914 What a huge difference a year can make! Last year the market got off to a very late start. This year has been busy since before the horrible winter snow melted away.As of today there are 71 houses on the market in East Providence, RI. Not taking into consideration Riverside or Rumford zip codes. This is just in East Providence 02914. Every weekend there are numerous open houses to be visited. Buyers have more choices now than 4 months ago. Usually during the summer we see a drop of inventory. Not this year. Although, some sellers are still holding out for higher prices. I'm anticipating those on the fence with either jump by the Fall or definitely by next Spring.If you're looking to buy or sell in East Providence, RI now ... 07/06/2015

  SUMMER EVENTS IN EAST PROVIDENCE, RI Here are a few ideas for fun this summer in East Providence, RI.2015 East Providence Recreation Department Summer Concert SeriesRose Larisa Memorial Park  700 Bullocks Pt. Avenue (end)Thursdays  6-7:30pm  -  FREE To The PublicBring Lawn Chair/Blanket.  Enjoy Beautiful Narragansett Bay! Looff Carousel  &  Blount SeafoodAll Concerts are  “ Weather Permitting” Independence Day CelebrationFriday, July 3rd-Pierce StadiumRaindate: Sunday, July 5thGATES OPEN AT 6PMConcert of donated performances by: Gina Wesley & Dream Catcher, Kicking Hole, and Crushed Velvet.  Followed by Fireworks!Free to the public * Food & Beverage Concessions Street Eats & Oldies Every Thursday of the month, May 7-July 9 at Pierce Field 5pm-dusk (Weather Permitting)FREE Admission, R... 06/24/2015

Riverside, RI Housing Market is Hot! The Riverside, RI housing market is hot right now! We have 73 homes on the market ranging in price from 99K-499K.Spring has finally sprung and more buyers and sellers are seeing that homes are flying off the market quickly.  The average days on market are under 70. After the winter we had those sellers who had been on the fence about selling have finally made their decision.If you have any thoughts about selling now is the time to talk to a professional. Find out what your home is worth on todays market and make an educated decision. The Riverside, RI housing market is hot! Are you ready to jump in? 04/19/2015

 61 Homes on the Market in East Providence, RI 02914 As of today there are 61 homes for sale in East Providence, RI. The spring market is in full swing and it seems like new homes pop up on the market daily. Those for sale are also selling quickly (depending on location and condition). Prices range between a low of $77,000 to a high of $379,000. If you are looking to buy or sell in Rhode Island now is a great time.   04/10/2015

37 Homes for Sale in Rumford, RI 02916   Currently, there are 37 homes for sale in Rumford, RI. The Spring market is just starting to poke its head out from underneath the snow and make an appearance. The phones are ringing with requests for showings and more open houses are being held on weekends. If you have been on the fence about when to enter the market to sell now would be the time. Get out there before everyone else and be that BIG fish is a smaller pond.  Information about the Rhode Island housing market can be found in my recent blog post Solid start to the year for RI home sales. If you would like to increase the number of homes for sale in Rumford, RI (or anywhere in RI) I am here to help you with that. Happy Spring! 03/16/2015

  Buyer's Are Anticipating the Spring Market in Riverside, RI.   This has been a long, snowy winter here in Rhode Island. We still have 2-3 feet of snow on the ground and more in some places. The buyers are anticipating this Spring market like nothing I've seen in recent years. This winter was tough for most of the northeast markets. Not only was it difficult to show homes or hold open houses, sometimes we had to cancel them completely due to blizzards. We've dealt with impassable roads, knee deep snow banks, and no place to park cars. What's a Realtor to do?? We deal with it the best way we know how. We shovel, we hold open houses in snow storms (yes, buyers do come out in them), and we wait for Spring. Buyers in Rhode Island do the same thing. They trudge through the snow to see the h... 03/09/2015

Wayne Gretzky said "A good hockey player plays where the puck is. A great hockey player plays where the puck is going to be". With all the snow we've had in RI and MA over these past several weeks, I know where one puck will be come spring time. Roof Repair. I have seen so many ice damns, icicles and backed up snow on homes recently that it seems that many roofs are in for some serious damage. Undoubtedly there is many a roof guy driving around town recognizing this as well with a smile on their face.   Here is one Do-It-Yourself solution... DIY Clearing Snow And Ice Dam On Roof.   Jason         02/12/2015

Riverside, RI Market is Picking Up Steam   Yesterday the housing numbers came out for December 2014 and they were very good. In my niche of Riverside, RI 02915 we had a pretty good December.  13 sales with an average sale price of $165,800 and 78 days on the market. Not too shabby for holiday time sales.   Now that the holidays over and done with the market is really beginning to percolate. There are 55 single family homes for sale in Riverside, RI ranging in price from $435,000-$81,000.  Buyers are out and about at every open house I have, and offers are coming in. 2015 looks to be a good year for real estate whether you are a buyer or a seller.   The Riverside, RI market is picking up steam. Don't miss this opportunity to buy or sell. 01/23/2015

              Homes For Sale in Riverside, RI 02915   The Riverside, RI housing market is very active this Fall. As of today we have 94  houses on the market with days on market averaging 70 days to close. Distressed sales are at an all time low of 18% of the market. There are still bargains to be had for the right price. If you are a buyer this is also a great market for you. Interest rates are still low at about 4.21% for a 30 yr fixed.  Predictions for 2015 appear to be about the same as this year. Slow and steady increases in home prices, with more buyers looking to invest in home ownership, and sellers entering the market steadily. Now, lets hope for a mild winter!           10/12/2014

Here's What's Available in Riverside, RI 02915   It's Labor Day and the market is starting to slow slightly in Riverside, RI. We had a late start to our Spring market, but it picked up in June. As we enter the end of summer and early Fall I expect a dip to come to our housing market.   As of today we have 66 single family homes listed in Riverside and our average days on market are around 75 give or take. The 30 year fixed interest rate is somewhere around 4.13%.   If you are looking at buying or selling in the near future the market is improving at a comfortable rate of 4-5% year over year for our area. For most of RI we are in a sellers market with less than 4-5 months of inventory available. Serious buyers are out there looking for homes so don't think you have to wait until next yea... 09/01/2014

  2014-2015 Back to School Calendar for East Providence, RI     It's that time of year again for the kids and parents of East Providence, Rhode Island. Next week (September 4th) they start school for the 2014-2015 school year. The East Providence School Department has provided a calendar with all the necessary dates you'll need to plan a great school year. I have also found the East Providence bus stop schedule which should also be of help to those who may have just moved to town. There is a weath of information available on the East Providence School Districts website as well. Here's to a successful and safe school year Townies!   08/25/2014

An Open House Success Story and Thinking Outside the Box     In my neck of the woods, East Providence/Riverside, Rhode Island open houses are hit or miss.  Property condition, price and location helps determine the success of an open house. Now, I have a very nice home on the market in Riverside, and I wanted to get as many people to come to my open house as possible. Exposure is everything in real estate and reaching as many people as possible will help sell a house. Here's what I've done to have my successful open house's: I took my just listed postcards and wrote the open house dates on them and dropped the cards off to local coffee shops and restaurants. I took those same cards and went around the neighborhood inviting the neighbors and handing out the cards. Lot's of social media p... 06/30/2014

Bargains Can Still Be Found in Riverside, RI 02915   Bargains on homes can still be found in Riverside, RI. Yes, we know the housing market has picked up, and yes we are aware that homes are now selling faster (usually under 90 days on market) and for more money (normally 4-6% higher than last year). With that being said, here are examples of homes to be found in Riverside, RI which I consider a bargain.   A 3 bed, 1 bath 1314 sq ft house on a small lot with central air, full basement, and walking distance to Narragansett Bay is going for under $150,000. Now, that's what I call a bargain especially in the area it is located with Narragansett Bay being almost across the street! We have some distressed properties under $100,000 which are right on the water. Everyone's talking about prices... 06/11/2014

  Great Coffee & Conversation Found at the Sage Cafe in Riverside, RI   Great coffee and conversation can be found at the Sage Cafe' in Riverside, RI. I started coming to the Sage Cafe about a month ago. I was meeting with a local mortgage person and thought this would be a nice place to discuss future business.  I didn't realize what a "gem" I have in my own neighborhood.   The Sage Cafe' is a family affair. They opened their doors in March 2013 and have been drawing new and returning customers daily. The day I was here the 10 or so tables were nearly filled and their was a buzz of various conversations going on. There were a couple of Mom's with their babies, a few college age students talking about a class, a couple of gentlemen reading their newspapers or Kindles, and a Realtor (tha... 05/09/2014