News

Warwick, RI – October 20, 2021 -- Residential property prices in Rhode Island continued to escalate in the third quarter, though the first signs of a slowing housing market became apparent. Data released today by the Rhode Island Association of Realtors showed that at $385,000, the median price of single-family homes sold from July through September was 15 percent higher than that of the third quarter of 2020 and reached an all-time quarterly high.

The Rhode Island Association of REALTORS® Executive Committee has approved changes to the RIAR Referral Agreement and the Post Inspection Agreement, which was previously called the Repair Addendum.  These changes will be made available to all authorized forms vendors on October 15, 2021.  Keep in mind that some vendors post changes within a week or two while others take a month or longer.

On October 1^st, FEMA began phasing in a new flood insurance pricing system called Risk Rating 2.0: Equity in Action. Through a two-phase process, rate changes took effect for new flood insurance policies on Oct. 1, 2021, and for existing policy renewals on April 1, 2022. 

On September 30th, the RI Association of Realtors hosted Speaker Joseph Shekarchi for an open discussion at RIAR on issues impacting housing in the Ocean State. The Speaker answered questions and touched on several issues, foremost among them, Rhode Island’s housing shortage.

Your acts of kindness matter, share your volunteer activities with RI REALTORS®. 

The Rhode Island Association of REALTORS® Executive Committee has approved some changes to the RIAR purchase and sales agreements.   These changes will be made available to all authorized forms vendors on September 15, 2021.   Keep in mind that some vendors post changes within a week or two while others take a month or longer.

Warwick, R.I. – September 16, 2021 --The median price of single-family homes sold in Rhode Island reached a new peak last month, according to data recently released by the Rhode Island Association of Realtors. At $390,000, the median sales price rose 17.1 percent from 12 months earlier and 1.6 percent from the previous month.  Prices have not fallen from the prior year since January 2017. 

Starting on January 1, 2022, a new Rhode Island law will require real estate licensees to complete a minimum of three hours of approved continuing education about federal, Rhode Island or local fair housing laws or treatment of individuals with disabilities before you renew your license. 

Rhode Island renters struggling to cover rent and utility payments due to COVID may qualify for up to 18 months of emergency assistance thanks to the new federal relief aid. The program can pay for rent and utilities owed back to April 1, 2020 and can also cover up to three months of upcoming rent.

It is easy to understand why some customers get confused when entering an “outside MLS” sale into Matrix. Is the transaction considered a “broker assisted sale” or a “reported for comp only sale” as contemplated by the MLS Rules and Regulations? Find out the difference.