Foreclosure halts across the nation

If you are reading all the news about banks halting foreclosures across the nation due to what they call "robo-signing", you may be wondering how this affects Rhode Island foreclosures. Rhode Island is a non-judicial foreclosure state. This means that these problems will NOT affect Rhode Island foreclosures.  The 23 states that are affected are Judicial states.

UPDATED 10/08/2010

All 50 states are now being affected by BOFA and some others.
This should "not" affect short sales.

Oakland Beach Fireworks Warwick RI

Saturday Night at the Seawall at Dusk!!

Get there early for a good spot, and stop at Iggy's or the Carousel for some great food

Happy Independence Day Warwick

Investors!! Lowest priced MULTI FAMILY in West Warwick!!!

Brand new price!  This is,  as of right now,  the lowest priced multifamily home in all of West Warwick, Coventry and Warwick!! You cannot go wrong.  This must be a Cash or 203K rehab loan due to work needed. First apartment is two beds and both apartments have a rear backyard with plenty of parking and a deck. Don't be fooled by the front of the house, take a look from the rear. This would be a great rental property after you fix it up! Offered at the amazing price of $85,000!!! Must have proof of funds with offer. Property is AS IS and bank owned.    Email Karenhurst at rihome.net for a showing.

Does length of unemployment indicate the real estate sectors health?

I have always thought that the job market had a direct relationship to the Real Estate market. Below is an article that backs up my opinion. Rhode Island is once again near the top!!! (and as usual, not in a good way)

We need jobs to encourage this economy and not minimum wage jobs but good paying jobs!

The banks are now looking at potential home buyers with so much scrutiny, that it is making it nearly impossible to get a mortgage.  There are a large percentage of Rhode Islanders' that are either going through, or have just gone through a short sale or a foreclosure!  These people will not be able to buy at least for 3 years! 

The few that can afford to actually make a mortgage payment and still continue to exist need to know that they will be getting periodic raises and have some kind of security regarding their place in the job market.in Rhode Island

I am just a Realtor in Rhode Island. I do not know the answers on what to do about the job market. I do know that most of the industry in Rhode Island has disappeared. We are now a hospitality state, which would be great if the beaches remained open during the summer, at least.

Here is the article
Does length of unemployment indicate the real estate sector’s health?

Meanwhile, I am here to help people find homes. Rhode Island has the potential to be one of the nicest states around!

Photo by Karen Hurst of former Rocky Point

Memorial Day

I do not think that the phrase "Happy Memorial Day" is appropriate. This is the day we honor the soldiers who fought and died for our freedom.  It is not a happy day. It is a sad, yet proud day.

My dad fought in World War II. He still has horrible memories and he lost his brother during the war in the Fiji islands. Yes my uncle received a Purple Heart for his bravery. Of course, I never got to meet him.

So to my uncle Robert Cole and my dad George Cole, and all the soldiers whether dead or alive, fighting now or years ago, thankyou for fighting for my freedom!


Peace to all on Memorial Day!

OPEN HOUSE - COLONIAL - WARWICK RI - $200,000!!

Step back in time...Well maintained four bed colonial, perfect for large family. Enjoy the private backyard, or long summer nights on the enclosed porch. Beautiful original woodwork, moldings, pocket doors, and fireplace. Open Sunday 5/16 from noon till 2pm. 49 Barton Ave., Warwick, RI. Call for details: Sue Breslin, Stonehurst Realty 401-480-4137

Freddie Urges 12-Month Forbearance in Flood Areas

This is on an individual basis. You can find the article here.