Okay, I'm back from my little vacation. Actually I have been back for 3 weeks! Blogging has taken a back burner because I have been so busy. I thought I would pop in here today and give my perspective on the Rhode Island Real Estate Market.
Lately, there have been numerous foreclosures in and around Rhode Island. The investors are out in droves looking for a good deal. And who can blame them? They are fully equipped to come in and gut a place then put it back on the market for a higher price. There is an inordinate amount of work that goes into these "projects" that I don't think the average person realizes.
What I have also found is a lot of first time homebuyers looking at rehab houses because they think its the only way they can afford to get a house.
Some of these houses are in dire need of COMPLETE rehab and there is no way someone could live in them and work "on the weekends". I find this very sad, because it means that these people cannot find a home in their price range!
There are, however, still some great Mortgage products around that not everyone knows about. I still have the belief that if you have a job for at least a year and not a lot of credit debt, then you can still own a home in Rhode Island. Sure it takes awhile to find something that you feel you would like, but it's not impossible!!!
So for all those people out there that think they can't afford a home....Call me! If there is any way possible, I will find it.