Providence, RI Real Estate News

By Rita Danielle Steele
(Steele Realty Consultants International )
"If he has a conscience he will suffer for his mistake. That will be punishment-as well as the prison." - Fyodor Dostoevsky, Crime and Punishment   Today my office was yet again put in a position to draw a line between responsibility in disclosure, accountability, and our job description. Where the line should be drawn is still unclear.   As a full service brokerage, we oftentimes  represent lessors, matching and placing well-qualified tenants into their properties. Over the past few years, well-qualified has meant, at a minimum, job history and reference verification, credit check, and confirmation of rental/home history. Our clients have been impressed with both our thoroughness and dedication to finding tenants who will care for their homes as if they themselves were the owners.     ...
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By Rita Danielle Steele
(Steele Realty Consultants International )
Everyone agrees that the I-195 land is one of the City’s, and the State’s, greatest opportunities for growth and economic stimulation. Are we up for the task?     “Providence is so beautiful,” my sister-in-law Irene gushed as we sat down to lunch overlooking Waterplace Park at Jacky’s, one of Providence’s newest hotspots.   Like Irene, other newcomers to the city are usually entirely unaware of the city center’s horridly dull “before” landscape. As Irene and I walked along the riverfront  back to my car, I told her about the Capital Center Commission’s efforts 30 years ago to rebuild the city’s core. Their ambitious undertaking included unearthing the river that 150 years ago served as Providence’s hub.   In the late 1800’s the river’s peak at Salt Pond Cove, or “the Cove,” was a busy p...
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By Ann Sabbagh, President, Sr. Loan Officer
(Seacoast Mortgage Corporation, RI (20021119LB & 20031576LL), MA (MC2107) & CT)
Short refinances should be the norm.  They keep the homeowner in their home AND they reduce losses for the lender AND they improve the economy since home ownership stimulates economic growth. A short refinance keeps the homeowner in their home, thus reducing the supply of homes on the market .  Short sales result in the homeowner losing their home; the loss of the American dream and creates economic disaster for everyone. A short refinance entails the current lender or lenders forgiving debt based upon the current market value of the home.  The homeowner then refinances the remaining debt into a new mortgage.  For example, a home is currently appraised at $200,000.  The homeowner owes $275,000.  95% of the current value is $190,000.  The difference between $190,000 and $275,000 is $85,0...
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By Kathleen Ann Pacheco-Corbett, Realtor, RI-MA, CEBA, Master, e-Pro, ABR, ABRM, GR
((FIRST Exclusive Buyer's Office Providence-RI) )
    ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Copyright photo by Kathleen Ann Pacheco-Corbett, all rights reserved and may not be reproduced without the written permission of Kathleen Ann Pacheco-Corbett, The Buyer's Choice, Lincoln, RI.  Permission granted with a link back to my website and/or blog providing site is appropriate for all ages.  Thank you.                                                                     We want to be your "Personal Realtors for Life"                                                         http://www.thebuyerschoice.com                                                                                                        KATHLEEN ANN PACHECO-CORBETT                                Office 401-725-5608     Cell 401-556-6911 ...
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By Rita Danielle Steele
(Steele Realty Consultants International )
Realtors today are often faced with this line of questioning from sellers: "Will you accept a lower commission?" It's not that the seller asking wants to undercut their realtor. The seller is asking because realtor commissions are hard to understand. In order to get a good sense of how the commission system works, let's start with the basics. The industry norm for realtor sales commissions is 5-6% of a property sales price. With a commission-based system, the person being compensated for his or her services takes a high risk in exchange for a "high" reward. For realtors, the risk is not making a sale and earning nothing, no matter how much time, money, or effort a realtor puts into the transaction. The seller is therefore paying a "high" reward in exchange for the high risk the realtor ...
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By Marjan "Mario" Tusup
(Remax Patriot Properties)
So, the other day I went to a listing presentation and prepared myself really well... With not a lack of confidence I started talking about the comps and necessary marketing in the order to sell my client's house. Of course staging and some minor cleaning to make house inviting and ready for sale was something that I always mentioning towards the end of a listing presentation! In the middle of conversation and detailed presentation I was asked, or should I say, told... some very practical fact... Well, since my client was Asian heritage, and he had a hard time expressing himself on English...he struck me all of a sudden with a question which was something like this: "You know, I have sometimes problem understanding you, since my English is not that good, and you probably have the same p...
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By Kathleen Cooper, Sposato Realty Group - Broker Owner
(Kathleen Cooper, Sposato Realty Group)
Great Day at the Circus Courtesy of Shamrock Financial  Today I had the pleasure of bringing my 4 kids to the Circus for the first time courtesy of Shamrock Financial.  Mike Dutra invited me, my 4 kids, my real estate partner Kim and her family for a fun filled day.  We enjoyed private boxed seating and all you could eat pizza, hot dogs & popcorn.   William described the event as F - A - B - U - L - O - U - S!  It was so great to spend a day with real estate friends outside of the normal business routine and to get to see our kids play together.  Had the pleasure of having a security guard find me to let me know that my oldest son and Mike's oldest son were caught red handed in the bathroom painting the mirror with soap.  LOL  Silly boys!   Thank you Mike & Shamrock Financial for the i...
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By Rita Danielle Steele
(Steele Realty Consultants International )
I recently worked with a seller on a very tight budget who was hoping to receive top dollar for his home. He wanted to know what he could do to present his home in its' best light without any serious expenditures. Without any expense whatsoever, to be more accurate. It is easy to advise a seller when they are willing to dish out some money to get their home in tip-top-shape; it is harder to do so when the budget is zero. To start him off, I gave him the following tips: A home's curb appeal gets buyers in the door. Your goal for your home's exterior is to create a clean, polished look that says that your home is valuable and well-maintained. This means that despite the season, so long as there is no snow covering up the mess that is your yard, you need to get outside and rake last fall l...
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By Ann Sabbagh, President, Sr. Loan Officer
(Seacoast Mortgage Corporation, RI (20021119LB & 20031576LL), MA (MC2107) & CT)
Yes!  It is possible! An agent was filling in for an open house for a fellow agent who was out of town.  She went into the WRONG house on the street.  She entered the wrong home through the side door and made herself comfortable.  She laid out her open house flyers and her cards and went around the house to make sure everything looked good.  Thankfully, no one was home!  Imagine her surprise and that of the occupant whom she may have surprised if there was someone home!!! When did she realize her mistake? She had an appointment with a client who wanted to see the home.  When this client did not show up, she called the client asking where he was.  He told her he was at the house!  The agent said I am here and asked what house number he was at and he told her the correct house number per ...
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By Ann Sabbagh, President, Sr. Loan Officer
(Seacoast Mortgage Corporation, RI (20021119LB & 20031576LL), MA (MC2107) & CT)
Using infra-red and bar code technology, you will be using your cell phone to charge your purchases.  Plastic cards are going the way of the dinosaur. I believe this is a GREAT step forward.  Benefits: All your cards in one convenient spot.  Quick reporting at your fingertips.  Reduced processing costs at credit card companies (will they pass on any savings?: Let's think positive!) The pitfalls?  Lose or damage your phone and lose a lot.  Can we truly eliminate the plastic?  I believe there will always be some plastic available for those who are not technology savvy.  Not everyone has cell phones and I believe there will always be those who do not wish to have cell phones.  Even if the credit card companies offer a free cell phone for just using it for credit purposes, there will be con...
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By Matt Listro, Your Credit Repair Expert
(National Credit Fixers - Matt Listro)
Credit Repair in Rhode Island National Credit Fixers: 330 Roberts Street Suite 402 East Hartford CT 06108 phone: 860-282-6181. National Credit Fixers boasts of 14 years experience repairing low FICO scores. Whether your credit has been damaged by a foreclosure, bankruptcy, slow credit, collections, judgments, repossessions, etc. we can help. We are the experts in credit restoration and credit repair. We have helped numerous residents of Rhode Island and are experts in Rhode Island credit repair. When it comes to credit repair in the state of Rhode Island - I submit that we are the best credit repair company for the job!  Give us a try and you will see! ☺  MattToll Free: 888-NCFIXER (623-4937)Toll Free Fax: 888-FAX-4020 (329-4020)Local: 860-282-6181330 Roberts Street Suite 402East Hartfo...
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By Kathleen Ann Pacheco-Corbett, Realtor, RI-MA, CEBA, Master, e-Pro, ABR, ABRM, GR
((FIRST Exclusive Buyer's Office Providence-RI) )
America's Favorite Holiday Spectacular Show comes to RHODE ISLAND "The Radio City Christmas Spectacular is an annual musical holiday stage show presented at Radio City Music Hall in New York City. The show features over 140 performers, lavish sets and costumes and an original musical score. The 90 minute revue combines singing, dancing and humor with traditional scenes in spectacular stage settings. The star performers are the women's precision dance troupe known as the Rockettes . Since the first version was presented in 1933, the show has become a New York Christmas tradition seen by more than a million visitors a year. In 2010, it will run from November 5, 2010 until December 30, 2010. They are visiting 25 cities and one of them is our own PROVIDENCE, RHODE ISLAND. For tickets and fu...
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By Ginny Gorman, Homes for Sale in Southern RI and beyond
(RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate)
Providence RI has just been ranked in the top 3 Best U.S. Cities by Travel & Leisure Magazine in their November 2010 issue.  Little old Rhody is stepping on some big toes out there around the country now! With over 35 cities from San Francisco to New York in competition on many categories, I can say with great assurance to anyone coming here- they chose their city well.  Providence RI came in at #2 for the best Theatre and Performing Arts venue after New York City- that is just amazing and wonderful... See what most people out of area do not know is that we have Trinity Repertory Company here which is renown for their stage productions.  Remembering that Brown University has an acclaimed playrighting school many of the graduate playrights remain locally and do their writing for Trinity ...
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By Rita Danielle Steele
(Steele Realty Consultants International )
I have always found it amusing that new introductions and "what do you do?"'s in Providence are always met with looks of suspicion no matter what I say. "Attorney," always receives the stereotypical reaction: I am left having to prove that I am not an egotist, swindler, or disparager. I get the worst of it, however, when I tell them that I am a "real estate broker." Respect flies out the window. While I have grown accustomed to this now, such bad reactions to my profession are alarming yet unfortunately justified. Certain members of the Providence Real Estate scene have, sadly, marred the reputation of the profession as a whole. The purpose of this blog is not to point fingers or make accusations. The point is to urge those in my field to show their clientele and their colleagues the re...
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By Kathleen Ann Pacheco-Corbett, Realtor, RI-MA, CEBA, Master, e-Pro, ABR, ABRM, GR
((FIRST Exclusive Buyer's Office Providence-RI) )
On August first I posted a blog asking the question: Who are these two sitting in front of the Brown University Library at 9pm on June 26,  2010?                    Why are they sitting here?  The two sitting  on a stone bench in front of the   Brown University John Hay Library were John Corbett, Mark Corbett and Buddy, our beagle, which you cannot see. We were guided there by our Ghost tour guide, Courtney.We were lead  by a young girl dressed in black carrying a lantern to light our way through the darkened streets of the historic East Side, sharing with us stories that will surely send a chill down your spine as it did ours.   Our 90 minute plus walking GHOST tour began at 8pm at the Prospect Park, where our founder, Roger Williams resides and stands his monument facing our city of P...
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By Kathleen Ann Pacheco-Corbett, Realtor, RI-MA, CEBA, Master, e-Pro, ABR, ABRM, GR
((FIRST Exclusive Buyer's Office Providence-RI) )
The Prospect Terrace Park Where it all began on the night of June 26, 2010 as we met at 8:00pm at the Prospect Terrace Park, also referred as Prospect Park, on the east side of Providence, RI called the Eastside, on Congdon Street (formerly known as Bowen Street). This park is located at the top of college hill because we have Brown University and the RI School of Design located on this Eastside of Providence, RI. A main attraction to this park is the 35 ft stone statue of RI's founder, Roger Williams, who history writes was kicked out of Massachusetts and he came to RHODE ISLAND. He faces and overlooks his plantation, the city of Providence, this statue was created by Leo Friedlander after Stephen Randall, Roger Williams descendant made a deed gift for its construction here since this ...
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By Kathleen Ann Pacheco-Corbett, Realtor, RI-MA, CEBA, Master, e-Pro, ABR, ABRM, GR
((FIRST Exclusive Buyer's Office Providence-RI) )
The John Hay Library Who are these two sitting in front of the Brown University Library at 9pm on June 26,  2010? Why are they sitting here? Story to follow.... ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Copyright photo by Kathleen Ann Pacheco-Corbett, all rights reserved and may not be reproduced without the written permission of Kathleen Ann Pacheco-Corbett, The Buyer's Choice, Lincoln, RI.  Permission granted with a link back to my website and/or blog providing site is appropriate for all ages.  Thank you.  We want to be your "Personal Realtors for Life"                                                                             http://www.thebuyerschoice.com                                                                                                 ...
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By Michael Dutra
(Peoples Home Loans)
Keeping you updated on the market! For the week of July 12, 2010 MARKET RECAP We may have been early, but we still think we are right. We're speaking of the impending recovery in the housing market. It's a contrarian opinion, given all the recent chatter and teeth-gnashing over delinquencies, foreclosures, shadow inventory, vacancies, and what not. But the number of data gatherers jumping aboard the better-times-ahead bandwagon is growing. John Burns Real Estate Consulting, for one, sees better times, according to Housingwire, which reports that the company sees the housing market approaching its next up cycle. Burns & Co. lays out a persuasive argument for a return to housing prosperity: improving job growth, record-low new construction, record-low mortgage rates, and the best afforda...
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By Michael Dutra
(Peoples Home Loans)
Keeping you updated on the market! For the week of July 5, 2010 MARKET RECAP We've always taken pride in going against the crowd (namely, by accentuating the positive), but we must admit that this past week has been difficult, especially after digesting the bleak news on foreclosures. On that front, RealtyTrac reported that homes in the foreclosure process sold at an average 27 percent discount in the first quarter of 2010, as almost a third of all transactions involved properties in some stage of mortgage distress. The low-lights of RealtyTrac's report show that home foreclosures set a record for the second straight month in May, with increases in every state. Bank repossessions climbed 44 percent from a year earlier and will likely set a record in the second quarter. The average pric...
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By Kathleen Ann Pacheco-Corbett, Realtor, RI-MA, CEBA, Master, e-Pro, ABR, ABRM, GR
((FIRST Exclusive Buyer's Office Providence-RI) )
I AM THE FLAG OF THE UNITED STATES OF AMERICABy Howard Schnauber I am the flag of the United States of America.My name is "Old Glory".I fly atop the world's tallest buildings.I stand watch in America's halls of justice.I fly majestically over institutions of learning.I stand guard with power in the world.Look up and see me.I stand for peace, honor, truth and justice.I stand for freedom.I am confident.I am arrogant.I am proud.When I am flown with my fellow banners,My head is a little higher,My colors a little truer.I bow to no one!I am recognized all over the world.I am worshipped -- I am saluted.I am loved -- I am revered.I am respected -- and I am feared.I have fought in every battle of every warfor more then 200 years.I was flown at Valley Forge, Gettysburg,Shiloh and Appomattox.I was...
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