why has mls#999775 been on the market for so long? does it have major defects preventing a sale?

Asked by Emmo91, Warwick, RI Tue Mar 6, 2012

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Lori Rossi, , Warwick, RI
Sat Mar 10, 2012
Hi Emmo,
As stated previously, this home has been in contract a couple of times. Not sure why the deals did not come together, but flood insurance may have been a factor. Looks like it is going into contract again since they are in a multiple offer situation now and requested highest and best offers from buyers no later than yesterday 3/9 at noon. If you'd like, I can keep an eye on it to see if it comes back on market. This home also came with a two year home warranty paid for by the seller, and one year of flood insurance also paid by the seller. As for location, It is within walking distance to Conimicut Park Beach and has water views of the cove. I live in Warwick myself and know the area very well-I was shocked to see a Realtor comment on the area. Take a drive by and let me know how "you" feel about the area, and if you would like to see other homes in this area and price range.

Lori Rossi 401-480-1973 Lori.Rossi@NeMoves.com
Coldwell Banker Residential Brokerage
0 votes
Mark McHugh, Agent, Warwick, RI
Tue Mar 6, 2012

This property was under contract a d came back on the market. I showed it three time last week after it came back on. It was totally re-modeled inside and out. They did a great job. The layout is a bit small and disjunctive, becaue the stairs for the second floor are right in the middle of the home. The wide plank pine boards are a great touch to the overall style. It is waterfront, but the tide has to be really high. At low tide it's more of a mud flat. the surrounding homes range in price from as high as $450,000, most would be in the $250,000-$350,000 range. A great little pocket of Connimicut.

I ran the flood insurance quote for my clients, and it came in around $1400 a year depending on wht the lender reqiures ffor the deductible.

The house is on town sewers and town water too, which is a big plus on the water.

Good luck in your search.


Mark McHugh 401-641-3842
0 votes
Joyce Alvern…, Agent, Bristol, RI
Tue Mar 6, 2012
Hi Emmo,

I agree with John, the house has to be for the right person. I see value in it at such a low price because of the land its on. It is part of the homesteps program which is why its been refurbished and in good shape. It would be the right house for the right person

Joyce Alvernaz
Re/Max Patriot Properties
0 votes
John Anderson, Agent, East Greenwich, RI
Tue Mar 6, 2012
Both good answers. But for the right buyer, that likes that area, water view from back yard, it is a good price to get into the market for 1st time buyers. Just need to thoroughly investigate flood insurance.
0 votes
Larry Pierce, Agent, East Greenwich, RI
Tue Mar 6, 2012
2 br homes don't typically generate great demand. The flood zone can be a deal killer for lot's of folks as well.
Web Reference:  http://www.rihomesource.com
0 votes
Cassandra Ba…, Agent, North Providence, RI
Tue Mar 6, 2012
The house is only 733 sqft, it is bank owned, and not in one of the better areas of Warwick.
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