I’d like to update you on the current state of the market, more importantly how this affects investments here in Rhode Island. Well I have great news! The market is solid and growing stronger every day. When the financial market was on the decline we were very fortunate to not see anything more than a hiccup in our area and we quickly recovered. In fact, we are experiencing home values on the rise and low inventory making it a challenging market.
Unfortunately, not all of Rhode Island has recovered as quickly as Aquidneck Island and took a much harder hit economically with short sales and foreclosures still having an impact on the values. I attribute this to the fact that Aquidneck Island is primarily made up of second home, vacation and investment properties. The tourism and local universities have also had a very positive effect on our area. Thanks to the economic development and careful watch over how our community grows and evolves, we are becoming a very sought after destination.
I have made a conscious decision to invest here not just because of it being financially prudent, but more because of the lifestyle it offers myself and my family. We now have several new Farm-to-Table restaurants that are working along with our local growers to create healthier choices while keeping the farmers employed. There are cruise ships coming in now to extend the season for our businesses. The Queen Mary II from abroad is a regular site in our harbor. The sailing industry, Tennis Hall of Fame and Preservation Society add to the history and culture we share with our visitors.
I wanted to take the time to pass this information on and offer my services. Rates are extremely competitive and may be worth assessing your portfolio. This may be a prime time to see not only where your value is but also to consider your options for property investment on Aquidneck Island.
Feel free to call to schedule a consultation. I am backed by my team of Real Estate Professionals and we would love to assist you.
The Newport Group
Coldwell Banker Residential Brokerage
38 Washington Square
Newport, Rhode Island 02840
We Live It. We Love It. We Sell It!