Housing
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Hit derelict property owners where it hurts
Despite signs of a real estate recovery, vacant and abandoned properties threaten to keep many capital city neighborhoods hopelessly behind the curve. To understand just how bad the problem is, consider this: A proposed ordinance designed to put some teeth into efforts to clean up such nuisance properties has the public backing of Mayor Angel Taveras and the entire 15-member City Council even before it comes to an expected vote in September! more
8/13/12
Distressed home sales hit snag
As lenders across the country struggle to sort out confused, sloppy or abusive foreclosure practices, a 2-year-old state mortgage-counseling law in Rhode Island has turned into a stumbling block for many banks trying to move distressed properties off their books. more
Nortek moves into the black in 2Q
Nortek Inc. reported net income of $18.5 million, or $1.19 per diluted share, during the second quarter of 2012, compared with a net loss of $31.9 million, or $2.11 per diluted share a year earlier, the company announced late Thursday. more
| 8/10/12
100-year-old Caboose heads to auction
One of Rhode Island’s last original cabooses, part of the original Narragansett Train Station, is to go to auction on Saturday, Aug. 18. more
Looking for an alternative to credit scores?
Do you ever get the feeling that your credit score doesn’t adequately portray your true risk as an applicant for a home mortgage? more
9/3/12
Housing starts in U.S. fall as permits reach 4-year high
New-home construction in the U.S. fell in July, while the number of building permits jumped to the highest level in four years, indicating the industry will keep improving in the second half of the year. more
Easing of city parking ban seen boosting housing
For real estate agents like Christopher Wall of Residential Properties, trying to sell or rent a house in Providence lacking off-street parking has always been a unique and often infuriating challenge. more
Abandoned Woonsocket building will be housing
WOONSOCKET – A deserted building will be turned into nine one-bedroom homes for disabled and formerly homeless men as part of a project that also aims to revitalize the neighborhood, The Associated Press reported. more
8/27/12
Entrepreneurial home-builders point the way
The good news is that from the depths of the Great Recession, Rhode Island has seen a 50 percent increase in new-home starts. Unfortunately, that still puts the state at 30 percent of the average home-construction starts registered from 2000 to 2003 (and further still from the subprime-lending-fueled peak of later years). And well short of a level that can sustain the construction industry at previous employment levels. more
8/20/12
Mortgage delinquencies rise in Providence area, drop in R.I.
The share of homeowners falling behind on their mortgage in the Providence-Fall River-New Bedford area rose .03 percentage points in June compared with the same period last year, but fell .06 percentage points in Rhode Island, Corelogic said Thursday. more
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