WeLoveLofts.com
Weekly Update
REMAX 1st CHOICE
|
|
Issue # 70 |
November 10, 2010 |
|
To my Loyal Loft Loving Friends and Clients,
There have been some significant price drops to properties that many of my buyer clients have gone to see over the last couple of months. Although these changes will not hit our weekly updates until next week, I will list them here and tell a little more about each below: - Unit 408 in Blackstone Landing has dropped from $129K to $119K
- Unit 201 in Mile Square has dropped from $149K to $144K
- Unit 3-H in Eagle Square Lofts has dropped from $155K to $135K
- Unit 403 in Bayley Lofts has dropped from $184,900 to $174,900
As a result of my talks with the Pawtucket Department of Planning and Development, I was introduced to the owner of "The Cube" in Pawtucket. I have listed this cool development opportunity in MLS and will put it up on my site immediately. This property represents a smaller development opportunity that might be just right for a first project. Details below. My client and friend, Liliana Fijman, has advised me of a wonderful show featuring local artists, sponsored by The Pawtucket Arts Collaborative, that is scheduled to open on November 11 at 5:30. I will post full details and a link below.
At a recent meeting of the Mile Square Condo Association, a issue that has caused significant harm to RI Condo Associations was discussed. Details below.
Lastly, I have a non-loft listing that I can't help but tell you about. The property is in Foster on 5.2 Acres with a 5 stall barn, a huge 3 bay garage and listed for $219K. I put some more details below.
Please call me when you are ready to start looking for a loft or other type of home. It is a gift to be able to help clients find homes that they love.
|
|
|
|
|
|
|
The Cube - Development Opportunity | |
Earlier this week I listed a cool commercial Building for sale.  This building could be finished as a commercial space or as a small LOFT development. The following documentation is available for review:
- Phase I Environmental Report
- Pawtucket Zoning report
- 2010 Tax Statement
- Full Set of Architectural Plans
- Pawtucket Plat Map
- Pawtucket Assessors Report
- Google Maps Photography of area
- Sellers Synopsis of project
In a nutshell, this property could be developed either 4 or 5 Loft properties with 5 parking spots inside and 5 spots outside. The Property in gutted and sand blasted clean. the windows need to be replace, but their location makes for incredible light in the spaces. There is a full basement for resident storage. This property is Listed for $350,000 but all offers will be considered. In addition, the seller may consider holding a second mortgage, over an initial $200,000 first place loan, to properly qualified buyers.
|
|
|
RI Condo Fee shortfall issue | |
I met with the condo board of Mile Square Lofts and attorney Ron Markoff last night. The board identified a state wide issue that we are going to bring to our local representatives for consideration.
At this time, when a condominium unit goes into short sale or foreclosure, the lender of record is only responsible for 6 months of back condo fees. Since the foreclosure process often takes banks 9-12 months, this often leaves condo associations well short of the amount owed. In developments with several units in short sale or being foreclosed upon, this shortfall can mean financial ruin for otherwise healthy condo associations. It is our goal to introduce a bill extending the responsibility period from 6 months to 12 months.
The issue is being brought to the attention of Mike Chippendale, State Rep - Elect for consideration. If any reader has another representative that might consider this issue as important, we would value an introduction.
|
|
Unit 408 in Blackstone Landing |
Unit 408 in Blackstone Landing has dropped from $129K to $119K. This Loft is a short sale and all offers are being considered. for a full description click on the link below:
|
|
Unit 201 in Mile Square Lofts |
 Unit 201 in Mile Square Lofts has dropped from $149K to $144K. This Loft is not a short sale and all offers are being considered. For a full description click on the link below:
|
|
Unit 3-H in Eagle Square Lofts |
 Unit 3-H in Eagle Square Lofts has dropped from $155K to $135K. This Loft is a short sale and all offers are being considered. For a full description click on the link below:
|
|
Unit 403 in Bayley Lofts |
 Unit 403 in Bayley Lofts has dropped from $184.9K to $174.9K. This Loft is not a short sale and all offers are being considered. For a full description click on the link below:
|
|
Weekly updates |
62 artists now exhibiting in 4th Annual 10x10x10 Show
Exhibit: November 1, 2010 - January 7, 2011
Opening Reception & Sale: November 11 at 5:30 pm
Lecture by TEN31 Productions: November 11 at 7:00 pm
Pawtucket Arts Collaborative Gallery at Blackstone Valley Visitor Center, 175 Main Street, Pawtucket, RI
 |
|
46 Cucumber Hill Rd, Foster RI |
OK, there must be some readers out there that are sick of lofts or want a second home in the country to keep their horses. For those individuals, please consider 46 Cucumber Hill Rd in Foster RI. This great property is priced very reasonably at $219,000 and includes a 2 bedroom home, a huge 30 x 38 three bay garage with full second floor, and a five bay stable for horses. The property is on 5.2 acres and couldn't be nicer. Click on the link below to see a YouTube Video. This is an easy show, I have the keys.
46 Cucumber Hill Road on YouTube |
|
Weekly updates |
| SMTH | 1 Tupperware Drive | 131 | $199,000 | Active | Pending | | PROV | 1 West Exchange Pl. | 2204 | $854,000 | Active | Expired | | PAWT | 10 Exchange Street | 201 | $342,900 | Active | Expired | | PROV | 119 Benefit St | 1 | $224,800 | Active | Withdrawn | | SMTH | 15 Higgins Street | 215 | $99,000 | Active | Pending | | BURR | 265 Sayles Ave | 4 | $79,900 | Pending | Back on Market | | PAWT | 300 Front Street | 514 | $129,900 | Active | Expired | | BRIS | 345 Thames Street | 302N | $699,000 | Active | Expired | | NPRO | 494 Woonasquatucket Ave | 501 | $115,000 | Active | Price Change to $99,000/new info | | WOON | 685 Social Street | 104 | $159,900 | Active | New Listing | | WOON | 685 Social Street | 210 | $159,900 | Active | New Listing | | PROV | 755 Westminster | 120 | $525,000 | Active | Expired |
|
Good luck in your search. I am usually available to help you find the home that you dream about.
Sincerely,
John Risica
In RI 401-439-3634
In MA 617-755-5564 |
|
|
