Real Estate
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Home prices rose in Rhode Island and Massachusetts and across the country in June, according to the home price index released Tuesday by residential property information provider CoreLogic. more
Capital Properties Inc. profits plummeted in the second quarter of 2013, falling 56.6 percent to $251,000, or 4 cents per share, from $578,000, or 9 cents per share, the company announced Monday. more
Rhode Island had the seventh-highest rate of foreclosure and loan delinquency in the nation in June even as the rate declined from June 2012, according the Mortgage Monitor report released Monday by Lender Processing Services. more
Hailed by both institutions as a way to better serve the community, Roger Williams University is finalizing its takeover of HousingWorks RI, the housing policy research group. more
Rhode Island’s rate of mortgaged homes in the process of foreclosure fell to 2.3 percent in June, a 0.7 percent year-to-year decrease, according to a monthly national foreclosure report released Tuesday by property information provider CoreLogic. more
Rhode Island single-family home sales rose 15 percent in the second quarter of 2013 compared with the same period last year and the median price of those sales increased 10 percent, the Rhode Island Association of Realtors said Tuesday. more
The Home Price Index in the Providence metropolitan area rose 2.4 percent year to year in May, climbing from $228,000 to $234,000, according to the monthly Home Price Index report released Monday by Lender Processing Services. more
Fewer Americans signed contracts in June to buy previously owned homes, showing rising mortgage rates are beginning to restrain the housing market. more
PROVIDENCE – The Arcade Providence last week announced a new round of retail tenants, according to Rhode Island Public Radio. more
Call it the estate-devouring, nightmare home loan you hope to never encounter: A reverse mortgage with a base interest rate of 9.95 percent, plus a 50 percent share for the lender of increases in value of the house following closing, plus another 2 percent “maturity fee” to sweeten the payout even more. On top of that, there’s a $33,000 mandatory purchase of an annuity by the homeowner that is added to the principal balance and incurs compounding interest while lessening the lender’s future payments to the homeowner. more
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