Buying and Selling in the Time of Covid-19

365 Boston Neck Road, Narragansett RI 02882

As a trusted real estate advisor, I thought it might be a good time to lay out some facts and circumstances if you are considering selling or buying a home during this unique period of uncertainty.

The fundamental fact to always keep in mind is that at any given time, good or bad, real estate will always be the safest and most stable investment over time compared to other investments.   Additionally, there will always be people who, according to their life stage, will need to sell or buy a home due to compelling motivations such as engagements, marriages, deaths, divorces and new additions to the family be it children or grandparents. There are more reasons, of course, but these represent the majority.

So, keeping Covid-19 in mind, if you’re wondering whether it is a good time now to sell your home, here are a few things to keep in mind:

1.      We are currently in a sellers market!  Simply put, demand exceeds supply today.  It’s a fact.  And, there are very serious, motivated buyers looking for a home like yours right now.  And while people are advised to stay home these days, the benefit to sellers is that only serious buyers will rise to the surface, and the browsers will be minimized.

2.      Buyers are taking advantage of the best mortgage interest rates ever! 

3.      What a great time to get “your house in order.”  Literally.  Why not use this social distancing time at home to make repairs, clean thoroughly, spruce up the décor, and think about staging for photography and video for when the dust settles?  (Pardon all my silly puns!).  Or consider my custom concierge services HERE .

4.      Social distancing lends itself perfectly to virtual home selling. Partnering with a Sotheby’s affiliate means you have access to state-of-the-art technology, client service, global to local marketing expertise, and a proud brand heritage.  We are uniquely poised to showcase and sell your home with professional digital photography and video, providing tools such as Live Video Walk-throughs, Live Virtual Open Houses, Virtual Staging, Video Texting, 3-D Matterport Video Tours, Drone Imaging, and much more.  Selling your home with Mott & Chace Sotheby’s International Realty will set your home  apart and command the highest sales price in the quickest time while keeping everyone as healthy as possible..

260 Beavertail Road, Jamestown RI

Looking to buy this Spring? 

1.      Buying a home leads to control and certainty in unstable times.  You will feel secure in knowing you have a fixed monthly payment with rock-bottom interest rates, an investment that will appreciate over time, tax benefits associated with home ownership, and living your dream.

2.      Get your finances in order now, and have your lender pre-qualify you so you know in advance of shopping for your dream home what your price range will be.  You will be in a much more competitive position when your offer on a home contains your pre-approval letter from a lender.

3.      There may be opportunities to buy a home now at a discounted price—perhaps creating a win-win situation by relieving a seller’s financial worries during these unstable times.

 Bottom line folks….don’t panic.  Be strategic!

And if any of the coastal properties above get you thinking about a summer move…send me a note!

Divorce is difficult.

Selling your home doesn’t need to be.

Going through a divorce brings on extreme emotions, and having to deal with selling a home is one of the last things you want. Having represented sellers going through this painful process and moving on from divorce myself I’m incredibly sensitive to those forced to navigate through the sale of a family home. I work diligently to take the burden of the home sale off their plate as much as possible.

I try to teach people to think with their brain not their heart. This is a business decision, and the decisions you make now will affect your future. How you rebound from this divorce is directly related to the decisions you make when you are in the divorce. In many of contentious divorces the marital home can become a source of revenge, strife and sometimes financial ruin. That once important financial asset to the couple now becomes a chess piece.

The sale of a house usually comes because one of the two involved can’t afford it. The same income that went to support one household is now going to two households, and the cost of divorce can be outlandish.

The cost isn’t limited to lawyers’ fees. One spouse has to find new furniture. You no longer qualify for your cell phone’s family plan. Someone has to find a health insurance plan. The list goes on and on, and the expenses can pile up.

Some sage advice…

Take care of yourself

Through all the court dates, the doubts and the anger, self-care will become very important. You need your strength and best wits about you. You also need to believe that your best days are ahead.

Believe that this too shall pass. For me to have a client call me two or three years later, I sometimes don’t’ even recognize them as a person. All that toxic hell they were living through is over.

Don’t be married to the house

Don’t remain married to the mortgage. If one person can’t refinance the mortgage, then sell the property.

You are paying a lawyer to be smart for you, but some lawyers and even judges think that if you sign off on the title then you are signing off on the mortgage. That is not true.

Don’t sabotage your own profits

Many times, one spouse does not want to sell the house, but there is a court order to do so. That anger causes the devil to come out and ruin parts of the house – or they sabotage an open house by not keeping the house clean.

Hire a stager

The showing condition of the house is very important. A lot of times in a  divorced house, there is deferred maintenance, and no one can afford or has the energy to fix things. The house is the number one form of capital in most marriages.

Many times, the couple ends up needing every penny they can get out of the house. I rarely put a house on the market if it isn’t staged to look it’s best – it can facilitate the sale, and as an Accredited Home Stager, I offer this service to my clients.

Take everything when you move out

If you are the spouse moving out of the house, take everything with you right away. Don’t necessarily think you will go back without a court order. If someone is thinking of divorcing and thinking of leaving, take everything that is yours with the anticipation that you aren’t going back. Many times the spouse comes back to get their stuff and the locks are changed, alarms are on, dogs are bought.

Make copies of everything

Before you leave the house, make copies of all the tax returns, financial bank statements, and anything else you think could be important in the selling of the house.  

Hire a real estate person familiar with divorce knowledge

It is imperative that your real estate agent establish neutrality with both sides of the couple. My goal is to remove any bias, position the home in its best light, cast a wide net to identify buyers, and sell the home for the maximum value in the least amount of time. Need some assistance? Click here to get started today.

Five great reasons why I love the holiday season (besides the free-flowing wine)

Christmas came upon us quickly this year, and while we frantically decorate, shop, wrap, cook and clean in anticipation, I decided to focus on and share 5 solid reasons why Christmas has always been so special to me.

1. Family. Nothing says Christmas more than connecting with family. I have a large, loud, spirited Italian family that comes together each year to celebrate the season. We eat as if there is no tomorrow, share memories of Christmases past, remember those gone before us, and laugh hysterically at all the zany things that have happened to each of us over the year. Sure, they can drive me nuts, but I wouldn’t trade them for the world—they are mine for always, and I am grateful.

2. Giving. I’ve learned over the years that giving far surpasses receiving. There is a special joy of selecting the perfect, strategic gift that you know, once opened, will surely bring the element of surprise and joy to your loved ones… The joy of volunteering or donating to a meaningful cause that helps those who are less fortunate. Christmastime reminds us of gratitude and empathy, and prompts us to be respectful and mindful of those in need.

3. Food. Lobster, Lasagna and Rib Roast, oh my! Those of you who know me know I love to eat good food, and between Christmas Eve and Christmas Day, our table is plentiful. The former includes Lobster with Tagliatelle Pasta, and the latter goes on forever. Mom’s bountiful antipasto platter with Italian hams, cheeses and marinated vegetables is followed by Italian “Wedding Soup” (tons of tiny meatballs), cheesy, meaty lasagna, standing rib roast with all the sides, and cookies, pies and cheesecake for dessert. If it weren’t all so scrumptious it would be obscene, and when else can we overindulge like this?

4. Warmth. Is there anything better than cozying up to a warm fire with loved ones, admiring the home decor, sipping a hot toddy or a cabernet sauvignon? It’s so indulgent, so comforting, and so nurturing. Christmas seems to entice us to nest, reflect and take inventory of that for which we are grateful in life, and bask in the warm glow of home.

5. Home decor. I’m obsessed with it! I love to notice all the curb appeal Christmas inspires around town…the tasteful and well, the not so. I admire the spirit and dedication to stringing lights, curating window boxes, decorating the tree, and filling the house with scents of pine, balsam and gingerbread cookies. The holiday hand towels, stockings on the mantle, gifts under the tree, and the myriad wreathes on the front door all make me giddy with joy, and in my business I am fortunate to be exposed to all the decor of the season.

“Winter is the time for comfort, for good food and warmth, for the touch of a friendly hand and for a talk beside the fire: it is the time for home.”- Edith Sitwell

Wishing you all a happy holiday season embraced by the warmth of family and friends, great food, and beautiful surroundings. Peace.

21 MOZART STREET, GARDEN CITY

OPEN HOUSE SATURDAY, DECEMBER 7, 2019 11AM TO 1PM. PLEASE JOIN US!

MLS #1241750

Asking $339,900

I’m please to present my new listing in Garden City! The 1700+ colonial features 3-4 bedrooms, 2 baths, and a finished basement. It has a newer kitchen and mechanical upgrades (roof, windows, water, etc), expansion possibilities, a pristine back yard pool for summer fun, and is located on a closed-end street (no traffic!).

Those of you who know me know I love to stage my clients’ homes for maximum revenue and a quick sale. Let’s face it…generally speaking, any home presents better online and in person with furniture and accessories. That said, the current status showcases the spacious rooms, hardwood floors, natural light, and new wall to wall carpeting. And, I wanted to get the listing up on the site as soon as possible. So I’ve been experimenting with a virtual staging website to layout a couple of concepts for living in the spaces. I know it isn’t perfect…but bear with me.

For a full description and additional photos click here.

Mid-Century Revival

Updated luxury condo in historically preserved building in Cranston

Royal Ridge Luxury

Apartment Complex

Circa 1965

The Royal Ridge luxury apartment building was built in 1965 at a time when the local “captains of industry” were becoming snowbirds, selling their large stately homes in Dean Estates and spending a large part of the year in warm and sunny Florida. They weren’t ready to leave their families and friends permanently, and still wanted to keep an eye on their thriving businesses, so renting luxury was the new option, and Royal Ridge was considered to be THE place.  

The Mansolillo family of builders understood their neighbors well and built the Royal Ridge luxury apartment in Glen Woods (Neighborhood of the Week, Projo 3/5/17) building to suit their needs. There was another luxury apartment building, Wayland Manor, located on the East Side of Providence, but the Mansolillo’s knew that Cranstonians were just that—loyal and committed to their community—so much so that the descendants of those “captains” continue to reside in the area today, enjoying the metropolitan suburbs of Chapel View, Garden City, Dean Estates, and Glen Woods.

The apartment building opened with a fabulous, majestic lobby with floor to ceiling windows, a grand chandelier, and hand painted murals on the walls that reflected the art of the time.  The basement of the building became a ‘social club” of sorts, with one very successful businessman building a kitchen, and filling the space with full-sized, hand painted shuffleboard areas, a pool table, dart boards and a table for some legendary card games.  His wife wouldn’t allow him to smoke his cigar in the residence, so he started the club in the basement.

Years later the building was purchased by Joseph Paolino, Sr., and in 1978 they chose to capitalize on the new trend in owning condominiums.  Every renter in the building purchased their own unit, and a professional company has managed it since, dedicated to the preservation of Royal Ridge and its rich history in the community.

The social club décor and signs of the basement games are still there, but now residents can walk out the front door to Chapel View and Garden City Center to enjoy the social aspects of the community—fine dining, boutiques, coffee shops, and a host of holiday activities and nightly entertainment.  The original murals were restored to their former glory by RISD artist, Amy Ryan, in 2017.

There are 24 units in Royal Ridge with only one of them rented.  A transformation is occurring with older residents transferring ownership to first time home buyers and downsizing baby boomers looking for all the urban lifestyle benefits but with the comfort and community of an established neighborhood.  Unit 17 is a large 2 bedroom/2 bath residence which has been completely remodeled with all of the finest finishes, and offers the modern amenities of today’s lifestyle…open floor plan and new kitchen with stainless appliances perfect for entertaining, a larger master suite with walk-in closet, and a private terrace. 

Stats:  1100 square feet, storage galore, assigned parking

Price:  $269,900, taxes $2,893, condo fee $297/mo.

Contact: Lisa Pagano, Albert Realtors, (401) 447-9505

Perfect Combo of Urban/Suburban Living in Cranston

Well folks…I know I haven’t blogged in a while. My goal after I closed on my condo project in March was to have it completely renovated in time for the Spring selling season, and showcase the before/after photos by June. I hate to be a cliche, but my contractor decided to take on more and more jobs simultaneously, and my project became his lowest priority.

So I did what I always do—took matters into my own hands, hired my own top-notch subcontractors, and while the project went over deadline about 3 months, I’m really pleased with the final result. And this luxury condo in the heart of Garden City/Dean Estates is on the market, waiting for the perfect millennial or empty-nesters looking for luxury in this perfect metropolitan suburb.

Finally, here is the transformation!

5 Ways To Stand Out This Spring Selling Season

Get Maximum Dollar For Your Investment.

 The spring selling season is often the busiest and most frantic period of real estate activity in the calendar year. And it makes sense, as the weather warms and home buyers hope to lock in a property before prices rise, those hoping to sell a home in spring can take advantage of housing market trends and walk away with a tidy profit in the spring.

 Stand out against the competition in a crowded market!  

 Spring cleaning checklist

1. Clear the clutter:

 Nothing says “unappealing” like a cluttered property when you’re trying to sell a home. And more likely than not, you have quite a bit of clutter in your house, especially if you’ve been in your home for a while. Check out this “before & after”—which is more appealing? 

• Entryway: This is the first area prospective home buyers will see, so remove coats, umbrellas, or shoes from your mudroom or foyer.

• Cabinets, pantry, nightstands, closets: Remove items (e.g. medications, tissues, etc), other than those used for decorative purposes. Closets shouldn’t be packed so much they’re bursting.  Potential buyers WILL check out closet space!

• Kitchen: Countertops should be clear of everything except for decor and essential kitchen equipment (e.g. toaster) only if you don’t have a place to tuck it away!  Create the look of SPACE!  The fridge should be free of magnets, bills, flyers, or coupons.

• Bedrooms: Beds should be made; clothes and shoes shouldn’t be on the floor.

• Furniture and electronic equipment: Keep these to a minimum. This will give the impression of a more open floor plan. Organize cords for electronics (e.g. computers, TV).

• Periodicals, photos, toys, etc: Anything that overly personalizes your home should be kept away.

• If you need to get clutter off your hands, have a garage sale, sell items online, or throw away anything you don’t need.

2. Remove personalization:

The purpose of home staging is to help prospects imagine themselves living in your house. If you display items that make them feel like it’s someone else’s home, you make it hard for buyers to imagine owning, much less living, in your property.

You don’t have to sacrifice creating a warm and inviting feel to your house, but you want to strike a balance between warm and neutral. This means focusing on areas like:

• Personal effects: Pack up family photos, sports memorabilia, trophies, figurines or artwork. In the bathrooms hide razors, deodorants, and other personal items.

• Collections: What you collect (e.g. books, religious artifacts, etc.) may not necessarily be the same things your prospects would collect. Reading material should reflect neutral subjects, such as architecture or food.

• Repaint walls: The color palette of the house should be neutral. You want buyers to project themselves onto the house, not feel like your personality is the overarching theme of the house. Use color psychology to know how each tone or color affects your buyers.

• Wall coverings: Remove or replace wall treatments that have not been changed in the past five to seven years.

3. Clean the exterior: 

If you spend all your time making the interior of your house look appealing, you’ll miss out on the profit potential of exterior curb appeal. Many buyers decide, within seconds of seeing the exterior of a home, whether a property is suitable.

•  Yards: Winter can leave your yard looking dirty. Trim shrubs, weed flower beds, and throw away leaves and garbage. Planting flowers around the yard can go a long way in raising its appeal, especially during the spring.

• Porch and patio: Springtime gives people a great excuse to sit out and bask in the weather, so make sure your porch and patio offer that. For a more appealing porch or patio, you can add potted plants along the walkway, even hang a beautiful wreath on the front door. Make sure you remedy any peeling paints,or repaint if needed.

4. Pre-inspection repairs: 

The more well-maintained your house is, the more justification you have for a high asking price. However, if home buyers see your spring real estate property needs a lot of repairs, as advised by the home inspector they will hire, this can cut into your profits.

 Before your house goes on the market, make sure all repairs are done; you can hire your own home inspector to conduct pre-inspection repairs. Among the things you would look at include:

• Plumbing

• HVAC

• Electrical

• Presence of mold and mildews

• Damp basements or crawlspaces

• Deteriorated roofs

• Non-functioning chimneys

• Structure and foundation

• Interior appliances, like smoke detectors

5. Open your home up:

 Take advantage of the fresh spring weather by opening your windows to let the fresh air and sunlight come in and make your house feel (and smell) vibrant. Bright rooms aren’t just aesthetically-pleasing, they also look bigger.

 If natural light doesn’t suffice, add floor or table lamps to areas that are darker or dimmer than others. You can even add some (subtle) air fresheners to give that springtime feeling a bit of a boost.

MAXIMIZE THE SPRING SELLING SEASON AND YOUR PROFITS!

People tend to buy, whether it be a home or a box of breakfast cereal, for emotional reasons — then back it up with logic. And this is especially true with the real estate spring selling season.

That’s because spring carries with it powerful symbolism; the feeling of renewal, a fresh start. And this can be a powerful metaphor when selling your home. But it’s key you remove any obstacles to this motivating factor. By ensuring your home is clean, free of trouble areas, and looking as fresh as possible, you might just enjoy a fantastic return on your investment this spring.

A visual celebration of my new ASP-RE Certification--10 DAISY COURT

Selling homes for more money in less time!

The Power of Design and Staging to Sell!

I'm pleased to present my recent project that combined interior design, home staging, pro-photography and proper pricing to yield a sale in less than a day.  28 Rangeley Road in Cranston was a vinyl-sided, 1,300 square foot home with two bedrooms in a lovely neighborhood. The roof was newer, the garage had been converted to living space, the home was fueled by oil through a very old cast iron baseboard system and lacked A/C, and the rooms were small, choppy, and outdated.

When I bought the home, I immediately sought to reconfigure the main living areas to create a more inviting open floor plan, and update the kitchen and bath with luxe materials, appliances, and fixtures.  Most who know me know that my signature move is to knock a wall or two down, put a support beam up, and create a space that's ideal for entertaining--my other passion!

The open design plan effectively eliminated the need for the extra 200 feet of living space in the converted garage. I felt a garage would be more appealing to buyers so I designed the space to become a bonus room (mudroom, drop zone, etc.) and a single car garage with entrance into the home--a MUST for our snowy, blustery winters!  

I designed an eat in kitchen with a large quartz island for serving and dining, forfeiting the "dining area".  The bonus room was large enough to accommodate a dining table and chairs if really necessary, and I needed the space to fit my new fabulous kitchen!

For the bathroom, I removed a closet in a bedroom that jutted into valuable bathroom space and redesigned the layout to create a more practical, larger, beautiful space that exudes luxury.  The bath is accented with spa-like tiles, sparkly chrome fixtures, and modern wall sconces.

The hardwood floors throughout the home were sanded and stained dark walnut, ready for the new furnishings and accessories--"staging", we call it.   It helps potential buyers envision themselves in the space, and where their own furnishings will sit.  And so, a lovely young couple envisioned themselves living at 28 Rangeley, and within a day made a full price offer.

Here are some before and after photos that capture the design and staging. Enjoy!

FAMILY LIVING IN GARDEN CITY!

Welcome to this elegant, classic Colonial home just steps away from the boutiques, bistros, summer concerts, and neighborhood camaraderie of Garden City. One owner, clean, updated 4 bedroom family home is built with the finest quality construction, and has been attentively maintained over the years. Spacious rooms, hardwoods throughout, newer central air and hot water tank, complete irrigation system, cedar closet, and many more amenities too numerous to mention. Move right in and start making new memories in Garden City!  Asking $399,900.