Weekly Update                                              REMAX 1st CHOICE
Issue #100                                                             April 20, 2010

     WeLoveLofts.com    

 

To my Loyal Loft Loving Friends and Clients,    

 

My family's search for a home continues.  We looked at a beautiful little waterfront home on rented land a couple of nights ago.  We looked at a nicely renovated cape in Cranston last week.  We hope to look at a neat 3 Bed, 3 Bath, 2 garage house on the Pawtucket/East Side line over the weekend.  Our standard play seems to be, make an offer at about 25% below asking (or appropriate to the comps in the area). The strategy being, if we can't have exactly what we want, at least we'll be getting a great deal on what we end up with.  Is it so bad that I want to live in a loft?

 

I'm meeting next weekend with clients from NYC that first reached out to me in September of 2009 to show them a couple of beautiful Providence Lofts.  This opportunity validates what we do at WeLoveLofts.com and makes the extra effort worth it.  It is the patient nurturing of clients over the long term sets us apart from much of the real estate community.  We understand that this a process, and realistically might take 6 months to 2 years.  The only thing that we ask is to "keep us in the game".  Nothing hurts more than a client that using us to educate them on the local market, spending hours in emails and conversations and visits, only to jump ship when the time comes to make an offer. 

  

I finally closed Unit 408 in Blackstone Landing Lofts yesterday.  I listed this property on October 5th of last year and it went into P&S almost immediately.  It took almost six months for the bank to execute the short sale process.  Ultimately the buyer got a great deal and the seller got to move on with his life.  I would say that it was a long but beneficial process for all involved.  If anyone out there is considering a short sale of their home, I would appreciate the opportunity to list it, and to introduce a negotiator and legal team that will help to get the job done as quickly and painlessly as possible.

    

I'm working with the owner of a small commercial building in Warwick to list his property.   It is about 9000 SqFt and in a residential neighborhood, right off Rt 37 and Post Road.  This building would be perfect to build out 3 or 4 medium sized lofts.  More to be revealed in coming weeks...

 

Pictures and info on the Eagle Square Loft rental are below.  This loft is $1250/month with all utilities included.  I've already gotten several calls, so don't wait.

 

The show of my sister's art has been officially announced.  Please put May 5th aside to come to the opening.  For details:

 

Jeanne Risica Art Exhibit 

 

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.

 
John

  

National Association of Realtors News
 

Existing-Home Sales Rise in March

Washington, DC, April 20, 2011

Sales of existing-home sales rose in March, continuing an uneven recovery that began after sales bottomed last July, according to the National Association of Realtors®.

 

Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, increased 3.7 percent to a seasonally adjusted annual rate of 5.10 million in March from an upwardly revised 4.92 million in February, but are 6.3 percent below the 5.44 million pace in March 2010. Sales were at elevated levels from March through June of 2010 in response to the home buyer tax credit. 

 

Lawrence Yun, NAR chief economist, expects the improving sales pattern to continue. "Existing-home sales have risen in six of the past eight months, so we're clearly on a recovery path," he said. "With rising jobs and excellent affordability conditions, we project moderate improvements into 2012, but not every month will show a gain - primarily because some buyers are finding it too difficult to obtain a mortgage. For those fortunate enough to qualify for financing, monthly mortgage payments as a percent of income have been at record lows."

 

 

Links to Blogs
 

I've been having some fun with my WeLoveLofts Blog. I can't say that it 100% is a loft blog, but it's 100% me.  Check it out, but please don't hold what I say or post against me.

 

WeLoveLofts Blog

 

The Jeanne Risica Fund for Art Education was created yesterday at The RI Foundation.  To read more about this fund and to make donations, please click on the link below:

 

Jeanne Risica Memorial Blog 

 

Loft Development Opportunity!! 

 

Price dropped to $273,000!  Is there anyone out there with a pulse?

629 Prospect - Full Listing on WeLoveLofts.com   

Mile Square Lofts Unit 405

 

New Pictures this week...

Mile Square Lofts Unit 405

Mile Square Lofts Unit 304

 Unit 304 in Mile Square rocks.  I'm not sure why someone hasn't made an offer on this loft, but let me say it again...1900 SqFt two bedroom loft for $149K. 

Click on the link below for the full listing:

Unit 304 in Mile Square Lofts   


 

 


    

 

Unit 8 in Ropeworks LOFTS

I expect an offer on this one in the next day or so.  Please don't tell me that you weren't warned. 

Note that this is a Visual Artist's Community and buyers and tenants must have some working interest in the arts.  Click on the link below to see more pictures and the full listing:

Unit 8 in Ropeworks Lofts

For RENT - Unit 3D in Eagle Square Lofts

  

Weekly updates

PAWT10 Exchange Court508$205,000Active 
PAWT10 Exchange Court616$189,900ActiveExpired
PORT125 Cory's LaneEndeavouir$2,475,000Active 
PROV18 Imperial Place5E$249,000PendingSold For $230,000
WOON180 Allen St105$144,900ActiveNew Listing
SMTH21 Higgins St102$173,900ActivePrice Changed to $169,900
BRIS345 Thames Street110N$1,350,000ActiveNew Listing
CFLS555 Roosevelt Ave103$167,200ActiveNew Listing
CFLS555 Roosevelt Ave104$175,200ActiveNew Listing
CFLS555 Roosevelt Ave107$151,200ActiveNew Listing
CFLS555 Roosevelt Ave201$167,200ActiveNew Listing
CFLS555 Roosevelt Ave204$215,200ActiveNew Listing
CFLS555 Roosevelt Ave205$143,200ActiveNew Listing
CFLS555 Roosevelt Ave208$199,200ActiveNew Listing
CFLS555 Roosevelt Ave209$207,200ActiveNew Listing
WOON70 North Main St1$155,000ActivePrice Changed to $144,900
WOON70 North Main St2$145,000ActivePrice Changed to $134,900
WOON70 North Main St3$164,900ActiveNew Images
WOON70 North Main St4$155,000ActivePrice Changed to $144,900
WOON70 North Main St5$128,900Active 
Woon99 Allen Street216$139,000PendingSold for $136,000
           

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