Affordability limits continued to hamper Rhode Island home sales in the first quarter. Closed transactions of single-family homes fell 32% from 12 months prior while the Q1 median sales price rose 4% year-over-year to $390,000.
Did you have an ownership interest in a limited liability company (LLC)?
If you’re buying or selling real estate through a LLC, a corporation, other business entity or a trust, Rhode Island Commercial Licensing Regulation 230-RICR-30-20-2 requires you to disclose your ownership interest in writing to the buyer or seller on the other side of the transaction. Review these FAQs to ensure you're complying with regulations.
Sales statistics released by the Rhode Island Association of Realtors show no surprises in Rhode Island’s housing market as most trends from the last several months continued in March. Sales activity in the single-family home market remained well below that seen 12 months earlier and the median price of homes sold, while still above that of March 2022, showed continued deceleration in the rate of appreciation.
Changes have been made to the RIAR Residential Lease and Backup Addendum. These changes will be sent to forms vendors by the end of April. The exact time that you see the forms will depend on when your preferred forms vendor posts the changes.
February’s single-family home median sales price of $384,000 was 4.4% higher than that seen a year earlier according to statistics released by the Rhode Island Association of Realtors. The data, which represents all Realtor-assisted sales transacted through State-Wide Multiple Listing Service, a subsidiary of the Association, also showed a 29.4% drop in sales year-over-year, and a 21.2% decrease in contracts in progress but not closed as of the end of February.
Even in the world of texting and social media, email can still be a good way to promote your services to potential customers and other REALTORS®. But whether you’re emailing one person or thousands, make sure that your email complies with federal law.
You answer your phone, and a caller says, “Hi. I’m _______________. “Are you single? I’m going through the list of REALTORS® to find single women.” What would do if you received an unsettling call like this as one local REALTOR® did recently?
January home sales in Rhode Island continued the trends seen throughout 2022 of year-over-year gains in median price despite slowing sales. Data recently released by the Rhode Island Association of Realtors portrayed a 5.8% hike in the median price of single-family home sales and a 39.1% drop in sales activity compared to January 2022.
You receive a call from a person who has a parcel of vacant land to sell. The person is ready to list with you even though you’ve never met. But there’s just one catch: the seller cannot meet you in person because the seller claims to live out of state or in another country or is traveling.
How do you know if this seller is the true owner of the property or a scammer?
Strong photos attract buyers to a listing. Good lighting, the right camera lens, the right angle, filter, or digital enhancement, can make the difference between a gorgeous photo and an average one. But when does the use of photographic “tricks of the trade” cross the line into misrepresentation?