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North Providence : Real Estate Advice

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  • Local Info2
  • Home Buying8
  • Home Selling3
  • Market Conditions1

Activity 17
Tue May 17, 2016
Gloria answered:
Im looking for a two bed room (townhome style or single family home.
I need a place that accepts a cat and with a pool.
Looking in the areas - Lincoln, Cumberland, Coventry, Smithfield, North Providence
Price from $900.00 and not to exceed $1300.00 (if I pay up to 1300 would like heat & hot water included) . Need a place ASAP (June 1) If you could help that would wonderful. My email is gdelbonis@gmail.com
... more
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Sun Mar 1, 2015
Yaw Anku answered:
For an updated list of FHA approved condos in Providence, RI see http://homebuyerwise.com/FHA-Approved-Condos/city/Providence-RI_23839. This link is available nights and weekends unlike the HUD site. You can also search for nearby cities ... more
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Wed Jul 23, 2014
My NC Homes Team answered:
If you're home is actively for sale, then your Realtor can replace the old photos with the new ones, it only takes a few minutes and is easy to do. You as the owner of the property do not have access to modify your listing but your agent does. ... more
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Fri Feb 21, 2014
charulatha13sak answered:
looking for 2BH ONLY APARTMENT TYPE..
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Tue Jul 2, 2013
Joseph, JBL Property Group answered:
It really depends on many other personal preferences and factors unique to you. Are you planning to grow your family with children in the near future? Condo living can be difficult with young children. Common grounds/yard within the typical condo complex are very limited and not as much an option when the kids want to go in and out to play. North Providence has a "Homestead Exemption" Tax break of 20% on your property taxes IF you are an owner occupant, you may want to compare that to similar valued properties in Providence or East Providence. There are ALOT of condominium developments in North Providence....I happen to sit on the Condo Board of one of them of which is greatly regarded as one of the most well kept, efficient, and "healthy" developments. You just want to be sure what kind of financial shape a condo development is in before YOU buy into it. Find out the percentage of units that are currently rented out versus owner occupants, a solid and stable development should have a very low percentage of rented units. Another thing to consider with a condo/townhouse versus a single family home is that it is usually pretty difficult to find the right condo for you AND have a garage for your vehicles! A singe family home will yield more of a normal privacy level for you than living in a condo complex where your unit will be right up against your neighbors. Common annoyances due to "closer quarters" in a condo complex are something to always consider too...(ie: noise, pets if allowed, visitor parkings, neighbors smoking, etc...). Alot to think about!!! ... more
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Sat Jun 15, 2013
brendaclermont54@gmail.com asked:
This question was asked from http://www.trulia.com/property/3087202446-14-Brook-St-North-Providence-RI-02911
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Wed Feb 20, 2013
Lori Rossi answered:
Are you thinking of selling and looking for which has better resale value? If so, I would leave as two family-especially if its in North Providence and since you have the second floor demo'd, see if you can find a way to make it a two bedroom. If you would like to email the address, I can get a better idea of what will best for you.

Lori Rossi Coldwell Banker
lori.rossi@nemoves.com
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Sat Aug 18, 2012
Christopher Cote answered:
I have two rentals right now. Feel free to call me for details. Chris @ 401.497.8233
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Thu Jun 23, 2011
William Friedman answered:
You need to call me!!!! I have sold many short sales in North Providence and can supply references. Put my 31 years of experience through three recessions and a banking crisis to work for you. Bill Friedman, Re/Max Preferred, North Providence 401-353-8500 ... more
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Mon Mar 14, 2011
x answered:
start now: many sellers are putting their houses on the market now to sell this year. the risk of waiting too long is that your house gets bought by someone else. If you don't find something now, you'll know the market well by the time you're ready to purchase and move.

you also might be able to find something now/soon; make an offer with a far away close date and a pre-qual (different from a pre-approval) as proof of funds/financing and come to agreement. some sellers might appreciate knowing their house is in agreement and that they have the summer to stay there. If you were to do this, I recommend extending the inspection period as well as mortgage contingency until it's closer time to close.

the other option is to find something, close this spring and leaseback to the seller until you're ready to move out. you could leaseback at the amount of your monthly payments or whatever is fair. the struggle on this option will be to get owner occupied financing when you do intend to leaseback for a couple months.

but with a creative mortgage broker, it seems doable.

Good Luck with the process. Have fun with it ;)
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Sat Feb 5, 2011
Paul A. DiSegna answered:
Good Afternoon
I would check with the Town of North Providence, RI and Department of Environmental Management (DEM), link is below. A lien like that would be recorded and would need to be released. Thanks and be well ... more
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Tue Jun 1, 2010
Amy Hoag, GRI, ABR,e-PRO answered:
This is a very pertinent question and a topic that anyone involved in today’s real estate market should understand. A couple of insights from working through many short sales in the Rhode Island market:

1. Short sales are not inherently good or bad. They serve as a market making tool (albeit a cumbersome and bureaucratic tool) to be used when the current value of the house no longer covers the value of the outstanding loan(s) secured by it. The key for both buyers and sellers is to help the lender(s) come to the conclusion that an accepting a given offer is a better business decision than the alternatives, such as foreclosure. This means much more analytical and detailed communications than a “typical” home and requires a Realtor who understands the financial interests of all parties involved and can facilitate communicating the business case without crossing ethical or legal boundaries. Make sure the Realtor you are working with is prepared to make this level of effort and has the necessary background.


2. Not all short sales are equal:

When considering making a short sale offer as a buyer, find out if the seller has already received “bank approval” for a price named in an earlier offer. As discussed in earlier posts, it can take 4-6 months or more to get this decision from the lender(s), but if they have already completed the analysis in response to an earlier offer that did not close for some other reason, then the most lengthy part of the short sale process has already passed and you may be able to close in the typical 30-60 days.

Second, ask if there is more than one lender involved due to a second mortgage or home equity loan on the house. Two lenders make the process more than twice as difficult because they must each decide to accept the offer and they need to decide between them how much each will get.

If you are interested in the real estate market in Newport and southern RI, visit my website for additional information and feel free to contact me via Trulia.

Happy House Hunting!
Amy Hoag
www.AmyHoag.com
Re/Max of Newport
55 Memorial Blvd., Newport, RI 02840
401-608-2906 office
401-481-5135 cell
401-849-9859 fax
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0 votes 3 answers Share Flag
Sun Apr 11, 2010
Anna M Brocco answered:
Oftentimes short sales are by no means fast sales--some banks are faster than others and there are no set standards of time, unless it was already preapproved by the lender; paying the list price unfortunately has no bearing on the time frame. Do make sure that you are aware of recently sold similar properties in the immediate area and determine if it's a fair offer--sometimes properties are priced on target for today's market or slightly below, then the possibility of multiple offers may come to play--your agent can advise you best. ... more
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Wed Aug 6, 2008
Joe M. Brown answered:
You should be able to qualify for an FHA guaranteed loan with a 3% or 3.5% down payment
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Tue Jul 29, 2008
Voices Member answered:
John,

Possibly:) What did you do before you started working at this position? You can email me at Tino.Muratore@gmail.com.

Thank you,

Tino Muratore
Allied First Bank
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