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COMMON PRACTICE: Ryan Antrop, broker-manager at Residential Properties Ltd. in Cumberland, says as long as inventory remains low, homebuyers will continue to include escalator clauses in their offers. / PBN PHOTO/RUPERT WHITELEY

Escalator clauses causing tricky situation in red-hot residential market

Escalator clauses have become so commonplace in today’s red-hot residential real estate market that real estate agents are having to navigate threats of litigation,...
POLICY ­­PERUSAL: Mary Caruso, left, director of business development at Carey, Richmond & Viking Insurance Agency in Middletown, talks with CaraMarie Costa, personal insurance account manager. / PBN PHOTO/ELIZABETH GRAHAM

As home repair costs rise, policies may need update

As Tropical Storm Henri approached Rhode Island on Aug. 22, homeowners cleared their porches of furniture and battened down the hatches, fearing the havoc...
STATELY SURROUNDINGS: The 9-acre Ker Arvor estate at 275 Harrison Ave., Newport, sold on Dec. 29 to a Silicon Valley tech executive and his wife, a novelist, for $7.3 million. / Courtesy Lila Delman Real Estate

GREAT ESCAPES: Pandemic helps fuel record-setting demand for high-priced R.I. homes

Even in a pandemic, money remains no object for the wealthy – at least for those with enough to buy one of Rhode Island’s...
NEW HOME: Michael and Phoebe Koval, with their 4-month-old son, Barry, in front of their new home. The couple was renting a one-bedroom apartment in Providence before deciding to purchase a single-family property in the city’s North End. At right is their real estate agent, Shannon Buss, broker associate at Randall Realtors.  PBN PHOTO/MICHAEL SALERNO

Pandemic sparks more investment in real estate

For three years, Phoebe and Michael Koval rented a small one-bedroom apartment in Providence before deciding to venture into the real estate market to...
Shannon BussRhode Island Associationof Realtors president;Randall Realtors brokerassociateShannon Buss is the 2020 president of the Rhode Island Association of Realtors. The association is one of the largest trade organizations in Rhode Island, with more than 6,000 members. / PBN FILE PHOTO PHOTO/MICHAEL SALERNO

Positivity leads to productivity

As Realtors, we plan for the future, but we train for the unexpected. I believe we should be sharpening our saw no matter what...
NEW HOME: Nicole Tickner with her daughter Lily, and parents George and Judy Vit. They are in front of the South Kingstown house that Tickner bought for them after they moved to Rhode Island to be closer to their granddaughter. / PBN PHOTO/ELIZABETH GRAHAM

Battling buyers: House hunters find fewer listings but overwhelming competition

Rhode Island has had a seller’s market for several years in single-family and multifamily homes, particularly for entry-level or median-priced houses. In the past...
SINGLE-FAMILY HOME SALES in Rhode Island declined by nearly a third year over year in May. / AP FILE PHOTO/DAVID ZALUBOWSKI

R.I. home sales slow in May, while prices hit record

PROVIDENCE – The median price of a single-family home in Rhode Island in May increased 3% year over year to $309,500, according to the...
SALES OF single-family homes in Rhode Island declined 9.5% year over year in April while the median price increased 7.5% in that time. / AP FILE PHOTO/DAVID ZALUBOWSKI

Home sales drop in R.I. in April amid COVID-19 pandemic; median...

PROVIDENCE – The COVID-19 pandemic appears to have impacted the rate of real estate sales and listings in Rhode Island, new data shows. Sales of...
THE MEDIAN PRICE of a single-family home in Rhode Island increased 13.7% year over year to $290,000 in the first quarter. / PBN FILE PHOTO/MICHAEL SALERNO

Median price of a home in R.I. rises 13.7% Y/Y in...

PROVIDENCE – The median sale price of a single-family home in Rhode Island increased 13.7% year over year to $290,000, the Rhode Island Association...

Five Questions With: Shannon Buss

Shannon Buss is the president of the Rhode Island Association of Realtors. She spoke to the Providence Business News about the economic impact of...
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