April Update -South Kingstown RI Short Sale Update – Short Sale Real Estate Inventory
The number of South Kingstown short sales is remaining constant over the last few months with an uptick of
one. Some of the short sale number increases are due to the fact that homeowners are finding themselves in a financial vice due to hardships, divorce, medical expenses, loss of jobs, etc.
Some South Kingstown RI real estate home sellers are choosing to strategically default on their homes because the mortgage balance is so much higher than what the home is worth.
As this North Kingstown short sale agent knows, the short sale process can take a number of months to close. There are great RI real estate deals to be made if one has the patience, the right short sale agent for guidance and a good understanding of the process.
As I have shared before in short sale posts, a South Kingstown short sale truly begins when an offer on a home for sale is received at less than the seller’s mortgage owed on the home.
It is then presented by the seller’s listing agent to the lender and negotiated from here.
Ensure, as a homeowner, you work with a Real Estate Agent with short sale experience and one who is successful in the short sale process for clients. New HAFA (home affordable foreclosure alternatives program) rules are changing in June- make sure your Real Estate Agent knows what this means for YOU! This is a must interview point in your listing process. If you have questions about the steps, financial package that needs to be prepared and negotiating process, please call me at 401.529.7849 and we can talk confidentially.
The South Kingstown homes for sale have increased to 254 homes on the market. Of those homes, 18 of them are listed as short sales.
If you have the time to wait for a short sale home closing and want a fair deal on a home, there are great values in South Kingstown short sale real estate, as follows-
1) 34 Fagan Court, 2 bedroom cottage, 845 sq.ft., $145,000
2) 1790 Mooresfield Road, 1 bedroom Ranch, 560 sq.ft., $149,900
3) 13 Hope Court, 2 bedroom Colonial, 1099 sq. ft., $199,000
4) 130 MacArthur Blvd., 3 bedroom Raised Ranch, 1138 sq.ft., $199,900
5) 272 Middlebridge Road, 4 bedroom cottage, 858 sq.ft., $ 216,000
6) 45 Red Feather (south), 3 bedroom Cape, 1688 sq.ft., $229,000
7) 1081 Liberty Lane, 3 bedroom Colonial, 1814 sq. ft., $242,000
8) 1 Erin Drive, 3 bedroom Raised Ranch, 1276 sq.ft., $265,000
9) 7 Grey Birch, 3 bedroom Raised Ranch, 1236 sq.ft., $279,000
10) 34 South Woods Drive, 3 bedroom Colonial, 1994 sq.ft., $299,900
11) 59 Birchwood Drive, 3 bedroom Colonial, 2300 sq.ft., $374,900
12-18) 10 Fox Court, 71 Spencer Court, 1 Windsor Road, 10 Tri Pond Court, 1298 Kingstown Road, 17 Liberty Road and 1035 Mooresfield Road are all short sales with purchase and sales agreements signed awaiting a bank approval to close.
The South Kingstown short sale homes for sale are a diverse choice in homes and price ranges. If you are interested in purchasing a short sale, reach out to me for guidance in this process.
As North Kingstown short sale agents, my legal team has the short sale knowledge and experience to negotiate and close short sales successfully for sellers.
Call me, Ginny Lacey Gorman, today for a confidential discussion if you are in need of assistance in the South Kingstown real estate market or beyond at 401.529.7849. April Update-South Kingstown RI Short Sale – Short Sale Real Estate Inventory.