Valley Breeze

The Valley Breeze Cumberland Lincoln 07-12-2018

The Valley Breeze Newspapers serving the Northern Rhode Island towns of Cumberland, Lincoln, Woonsocket, Smithfield, North Smithfield, Pawtucket, North Providence, Scituate, Foster, and Glocester

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VALLEY BREEZE LIVING EDITION | JULY 12-18, 2018 REAL ESTATE 9 Home sellers: Can you afford complacency? With summer upon us, hous- ing inventories are tight as a drum in many popular neighborhoods. Indeed, it now takes a typical home seller less than a month to capture a deal, according to a new report from the National Association of Realtors. "Houses continue to fly off the mar- ket," says George Ratiu, a top econo- mist and the association's director of housing and commercial research. But he says current home sellers should "absolutely avoid complacen- cy" because there are a few darkening clouds starting to form over the mar- ket. The new report shows that due in large part to rising mortgage rates, home sales fell back for the second straight month in May. What's more, some properties in poor condition are languishing unsold for a lengthy period. As real estate agents can attest, a home that first goes on the market at a list price substantially over its legitimate value can take an unusually long time to sell. But even well-priced homes can linger unsold for a lengthy period if presented to the public in poor condition. "Some people just don't have the money to spend for necessary remod- eling, or they have to make a quick move for a job transfer and don't have time to make improvements," Ratiu says. Ashley Richardson, a veteran real estate agent, says a minority of sell- ers are stubbornly indifferent to the advice of their agents on necessary fix-ups, and these sellers must ulti- mately accept a sacrificial price. "In the end, a house in poor condi- tion will probably sell to an inves- tor, who will insist on a discount of between 25 and 50 percent off its potential market value. Investors usu- ally do the necessary improvements themselves and then quickly flip the property," says Richardson, who's affiliated with the Residential Real Estate Council. Here are a few pointers for sellers: • Seek an agent willing to offer some oversight of your issues. Homeowners facing financial hard- ship – such as a potential foreclosure – often lack the time and money for needed property fixes. But those with the resources to make the needed changes should do so and often ben- efit from the help of a listing agent willing to captain their project team. "The agent can screen contractors, secure proposals and help ensure the work is done right. They can also make sure that the house is kept locked up and secure in your absence," says Eric Tyson, a per- sonal finance expert and co-author of "House Selling for Dummies." Of course, not every listing agent is willing to coordinate pre-sale improvements. But others will enthu- siastically assist, realizing that they, too, would benefit from a successful sale. However, Tyson cautions that some agents – including very accomplished ones – lack the know-how to provide expert guidance on infrastructure repairs, such as major plumbing or electrical work. "Don't assume every agent is up to the task. Good bets are house aficio- nados, or people in the business who fix up houses and then sell them for a profit," Tyson says. • Recruit energetic assistance for your decluttering campaign. It's no secret that prospective buy- ers are turned off at the sight of a cluttered home. Most can't envision the size and scope of a property with overflowing bookshelves, bathroom vanities crammed with toiletries, or kitchen countertops ridden with gad- gets. Still, Mark Nash, author of "1001 Tips for Buying and Selling a Home," says most sellers find the pre-sale pro- cess of culling through their belong- ings both taxing and emotionally overwhelming. "Well over half the people who've lived in a house for 10 years or lon- ger have accumulated way too much junk. And they have a terrible time going through all those belongings in a methodical way," Nash says. Nash encourages sellers to post an ad offering to pay for help culling through their possessions –keeping those they value and casting off or giving away those they don't want. Chances are your ad will attract neighbors, including students, who are seeking part-time work for extra spending money. The person you hire should help you plow quickly through your accumulations and also help with the physically demanding side of the work. • Realize that looking back is a waste of your time. Some homeowners have for years allowed their properties to deteriorate while they've focused on other issues, such as career challenges, child-rear- ing or health problems. Others have no explanation for neglecting their homes, except inertia and procrastina- tion. Also, Nash says, many sellers resist the idea of putting money into a prop- erty they'll soon be leaving. This is especially true of cosmetic improve- ments, such as the sanding and pol- ishing hardwood floors, or kitchen upgrades. "People ... kick themselves that they didn't make the changes sooner so they could enjoy them, too," Nash says. But there's no advantage to postpon- ing needed improvements. Resistance to change can be an especially costly error if your place is already vacant and you'll have to carry two mortgage payments until it gets sold. To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com. Smart Moves ELLEN JAMES MARTIN Town & Country Outstanding Agents, Outstanding Results! 333-0020.com Lori McPheeters 333-4395 Terri Hollingworth 639-0153 Anastasia Kaufman 338-2749 Leonor DaSilva 465-5575 The Kathy Bain Farrell Team Amy, Kathy, Christine, Kim & Rich 374-1211 Patricia Elston 474-5253 2081 Diamond Hill Road, Cumberland, Chapel Four corners Search with Re/Max at www.remax.com Johnston: 11 diponte dr. Impressive 3 bed, 2 bath raised ranch. Large eat in kitchen with stainless appliances. Formal living room, cathedral ceiling and large brick fireplace in family room. Fenced in backyard. Central air, pellet stove and sprinkler system. $299,900 sMIthFIELd: 206 douglas Pike. totally renovated granite exterior ranch. natural stonework is found throughout this 4 bed, 2.2 bath home. A Carrara marble fireplace from the Vatican quarry in Italy. Marble with quartz countertops are featured in the kitchen as well as stainless appliances. $624,999 sorry! this one sold before we had a chance to advertise! List your house and see how fast it can sell! sorry! this one sold fast! Maybe it is your turn to buy or sell! CUMBERLAnd: nice townhouse style end unit with 1 car garage. dining room with sliders to patio area. hardwoods in living room and bedroom, lots of storage in basement. Complex offers in-ground pool and clubhouse. Plenty of guest parking. Close by to many amenities and easy access to 295. $179,000 woonsoCkEt: 66 social st. nicely maintained 3,100 commercial space. high traffic area, great location. Can subdivide. Michael Lambrese 447-3232 soLd soLd UndER ContRACt MARkEt InVEntoRy shoRtAgE! ContACt ME FoR A FREE, no oBLIgAtIon hoME VALUE ConsULtAtIon. LInCoLn: 32 suffolk way. 25 ft ceilings, gas fireplace & open floor plan. granite island kitchen, 3 car garage, master suite w 2 walk-in closets, bath w granite double sinks, marble flooring, & Jacuzzi. the spacious finished walkout lower with full bath, and walkout to landscaped 1+ acre property. $849,900 CUMBERLAnd: 5 Marywood Lane. Picture perfect 4 bed Colonial! open concept first floor, newly updated kitchen featuring quartz countertops, and stainless appliances; renovated lavette. Large living room with a wood burning brick fireplace and built-ins. hardwoods and tile throughout. Large lower level rec room. sliders to the outside with a multi-level deck & much more. $410,000 CUMBERLAnd: 48 Follett st. 4 bed 3 bath colonial sits on a picture perfect wooded lot. Bonus cathedral family room addition features plenty of windows and access to the near half acre of yard. Fireplaced den leads to updated kitchen with granite and stainless appliances. Full bath on the first floor. hardwoods throughout. Master bedroom has it's own renovated full tile bath; guest bath is also new on the second floor! $439,000 CUMBERLAnd: wow, great new price!! Priced below assesment. Adorable ranch in great location. Freshly painted interior with updates, featuring sun room with cathedral ceiling and skylights. sliders to deck in back. over 7,800 sq. ft. yard. great place to relax! $160,000 BURRILLVILLE: 999 Victory hwy. 4 bed, 2 bath home featuring spacious living room, kitchen and dining room and a new mud room addition 10x10. Lots of updates, including roof, hot water tank, well pump, well tank and kitchen appliances. Relax on your farmers porch or deck overlooking 4.30 acres of privacy. $279,900 wARwICk: 20 Fourth Ave. Condo, situated in the governor Francis section of warwick. Remodeled end unit, consisting of 2 bedrooms and 2 full baths. new windows, new Anderson slider and added insulation. newer kitchen with stainless appliances, hardwood floors and wainscoating in the dining area. seller leaving flat screen tV & window treatments. $174,900 noRth PRoVIdEnCE: 51 Beverly Ann dr. Pristine ranch. All brick, new roof, vinyl windows, central air, corner lot, updated electrical, new garage door. open spaced kitchen, hardwoods in 3 beds, family room with wood burning fireplace. $249,900 oPEn thURsdAy 7/12 4 p.m.- 6:30 p.m.

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