Rhode Island Real Estate on the RISE!

Yes, its true, according to the Rhode Island Association of Realtors, Home sale prices are up 5% from one year ago and we currently have a 6 month supply of properties on the market (down from the 8 month supply of a year ago). This is good news because a 6 month supply is the neutral zone for buyer and seller. (A Good market for both). Under 6 months becomes a sellers market and over 6 months is considered a buyers market.

Pristine NEW LISTING in Coventry!

FYI -
The Mortgage Forgiveness and Debt relief act has been extended until the end of this year. This means clients who shortsaled, modified their loan by principle reduction, or foreclosure will not recieve a 1099 and be required to show the shortfall as income on their taxes!

Good Housing News for the New Year