2013 Rhode Island Housing Market

Rhode Island real estate professionals anticipate Boston´s bustling economy will spur home sales in their state. On Jan. 17, 2013, the Providence Journal reported that ¨executives with commercial real estate firm CBRE said that the Rhode Island market has stabilized and will benefit, ultimately, from continued strength in Boston. "'New economy' businesses such as Amazon, Google, Wayfair and Yahoo came to Boston because the city offers an a … [Read more...]

2012 Rhode Island Housing Market

Propelled by low mortgage rates, home sales are beginning to improve in Rhode Island almost five years after the real estate market collapsed. The growing sale of homes is being driven by a combination of lower home prices, low interest rates and housing affordability. Housing prices have been falling since the market hit its peak more than four years ago. Distressed home sales, predominantly foreclosures are pressuring home prices in all … [Read more...]

Actor Nicolas Cage Sells Estate at $9.5 Million Loss

By Kevin Chiu Movie actor Nicolas Cage sold his Middletown, Rhode Island estate at a loss of $9.5-million as the Oscar winning star of more than a dozen major box office hits suffers massive losses in the real estate collapse. Cage purchased the 27-acre estate for $15.7-million at the height of the real estate bubble in July 2007 before encountering financial problems in a series of real estate investments. The mansion sold for … [Read more...]

Home Prices Decline Less in Hardest Hit Markets

By Mike Colpitts Where home prices are still declining they are deflating at a slower rate for the second year in a row, a new Housing Predictor survey has found. The hardest hit markets in the nation, including places in California, Nevada, Arizona, Rhode Island and Florida are experiencing less deflation than in early 2010. Part of the slowdown may be attributed to fewer foreclosures coming on to the market in some sectors of the … [Read more...]

2011 Rhode Island Housing Market

Sluggish home sales and high market volatility leaves Rhode Island's housing markets in trouble even as the federal government's Hardest Hit program injects $80-million in cash into the ailing economy. High joblessness and incredibly low home sales volume are hurting the economy, but some under-employed and unemployed workers will get help from the federal government to keep the roof over families' heads. In the months following the … [Read more...]

2010 Rhode Island Housing Market

Battered by one of the highest unemployment rates in the country, Rhode Island is suffering through one of the worst housing depressions in the nation. Unemployment levels are projected to top 14%, and as more job losses occur foreclosures will follow suit. Rhode Island lawmakers are trying to come up with solutions to the long list of problems, but are having little success. Although home sales have increased with federal tax incentives, … [Read more...]