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Weekly Update REMAX 1st CHOICE
Issue #71 November 10, 2010 |
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To my Loyal Loft Loving Friends and Clients,
I just want to take this moment to thank the people that have read my LOFT articles and called me to help them find or sell a home. Even though this year has brought a less active market, I'm finding that the readship of this article and requests to see and list properties are growing weekly. I am happy to say that Unit 202 in Mile Square LOFTS has been entered into a Purchase and Sale Agreement with one of my clients and we are waiting for bank approval. We have a new listing in RiverFront LOFTS in Pawtucket. Unit 616 has the largest Skylight in relationship to the footprint of the unit, that I have ever seen. I will give more details once the listing has been entered into MLS.
We have a new listing in Pearl Street LOFTS. This unit is one of the least expensive options within walking distance of Downtown Providence (with parking) on my site. I will give more details below.
We are listing Unit 408 in Blackstone Landing for rent this week for $950 per month. This is a great single bedroom loft with a full sized washer and dryer. the owner has put considerable effort into the updating of this very stylish loft. I'll include a link below.
I'm happy to say that State Representitive-Elect Mike Chippendale has agreed to have his legal departrment look at the issue of losses being taken by Condo Association in situations of Foreclosures and Short Sales. If any other Condo Associations can document losses due to these circumstances, we would be glad to hear from you.
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.
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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.
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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.
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Unit 204 in Pearl Street LOFTS |
 Unit 204 in Pearl Street Lofts is being relisted with WeLoveLofts and the price is being dropped from $199K to $194,900K. This Loft is a great alternative to downtown. I will have all the info up in our web site by next week. Give me a call for a personal veiwing.
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Unit 616 in Riverfront LOFTS |
 Unit 616 in Riverfront Lofts is being listed for the first time with WeLoveLofts and the price is will be $199K. This Loft has a great big shylight and an upstairs mezzanine sleeping area (very lofty). I will have all the info up in our web site by next week. Give me a call for a personal veiwing.
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For RENT - Unit 408 in Blacksone Landing LOFTS |
 Unit 408 in Blackstone Landing is being listed for rent as well as for sale with WeLoveLofts. The price for sale is will be $119K OR the unit can be rented for $950 per month. This loft is super stylish and completely updated with all options. I have the keys and a showing is easy.
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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 |
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Weekly updates | |
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PORT |
125 Cory's Lane |
Heritage |
$1,495,000 |
Active |
New Listing | |
WOON |
180 Allen St |
101 |
$141,000
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Active |
Price Changed to $138,000 | |
PAWT |
28 Bayley Street |
403 |
$184,900
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Active |
Price Changed to $174,900 | |
PAWT |
300 Front Street |
215 |
$114,900
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Active |
Price Changed to $104, 500 | |
PAWT |
300 Front Street |
408 |
$129,000
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Active |
Price Changed to $119,000 | |
BRIS |
341 Thames Street |
209 S |
$545,000 |
Active
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Pending | |
Woon |
388 Vose St |
3 |
$84,900
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Active |
New Pice - $79,000 | |
NKNG |
40 Web Ave |
120 |
$138,000 |
Active |
New Listing | |
CFLS |
404 Roosevelt Ave |
202 |
$165,000
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Active |
Price Changed to $155,000 | |
NEWP |
426 Spring St |
204 |
$719,000 |
Active |
Relisted | |
NEWP |
426 Spring St |
B103 |
$269,000 |
Active |
New Listing | |
NPRO |
494 Woonasquatucket Ave |
121 |
$169,900 |
Active |
New Listing | |
CFLS |
555 Roosevelt Ave |
R01 |
$389,000 |
Active
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Withdrawn | |
WOON |
685 Social Street |
310 |
$159,900
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Active |
Price Changed to $139,000 | |
PROV |
75 Eagle St |
3H |
$155,000
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Active |
Price Changed to $135,000 | |
PROV |
79 Washington St |
202 |
$74,900 |
Active |
New Listing | |
PROV |
79 Washington St |
206 |
$129,000 |
Active
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Expired | |
Woon |
99 Allen Street |
209 |
$179,000 |
Active
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Relisted/Price Change |
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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 |
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