144 Wayland Avenue, Providence, RI 02906
508-725-0051 | paulwcutler@gmail.com

Posted by Paul W. Cutler on 10/2/2017

Sweeping economic shifts, like a rising Dow Jones or lower unemployment rates, can affect the housing market. As the number of Americans buying houses increases, the sell price that you could get for your house might go up as well. If the housing market hits booming levels, you could get nearly twice as much for your house within five to seven years of the date that you bought the property.

Rising house prices aren't always good

As a seller, there may be little better news than hearing that house prices are going up. Yet, should you be in the market to buy a new house, this upward swing could spell disaster.

What could happen if you buy a house during a housing market boom is that you could enter a mortgage agreement that has you paying more for a house than the house is actually worth. You might not realize this until after the housing market starts turning sharply in the opposite direction.

By then, it could be too late. It's this very type of housing market swing that played a key role in the development of the Great Recession. You could regret housing prices shifting too far upward even if you're a seller.

How is this possible? When housing prices rise to the point that the house prices become bloated, although you can yield a significant profit should you sell your house, you may quickly watch those profits evaporate when you buy another house, especially if every house available for you to purchase cost nearly as much as the house you just sold. This is because bloated housing costs can eventually set everyone back.

Indicators that your house is over valued

Yet, failure to yield a profit during the house sell and buy process isn't the only indicator that your house might be over priced. Following are more signs that you might have paid too much for your house:

  • Comparable housing prices show that you could get nearly double or more for your house than you paid for it less than four years ago, and yet, you have done absolutely nothing to improve your property.
  • Area houses are selling for 20% or less than what you paid for your house
  • Your house has been on the market for four months or longer
  • Lenders are not approving buyers for home loans that would cover at least 75% of the cost of homes similar to yours
  • An experienced and reputable realtor who you're working with keeps telling you that you may want to lower the price on  your house
  • The sell price on your house is above the amount of property taxes that you're liable for
  • What you're asking for your house doesn't factor in damages that your house has experienced since you bought the property

When your house becomes a money sink hole

You're not the only one who doesn't want to pay too much for a house. People shopping for homes like the one you may have just put on the market also don't want to invest more in a house than the house is actually worth.

One reason for this is that the price of the house isn't the only costs that you'll take on if you buy a home. Insurance, association fees, general maintenance, property taxes and repair costs are other expenses that you could get saddled with. Several of these additional costs are directly linked to the price that you paid for your house.

Over priced homes can also place a drag on the entire housing market. This is truly an area where greed causes extensive damage. You may have to do your homework to avoid being pulled into an inflated housing market. But, you can avoid buying a house that's over priced if you practice patience.

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Posted by Paul W. Cutler on 9/27/2017

This Single-Family in Warwick, RI recently sold for $150,000. This Ranch style home was sold by Paul W. Cutler - Keller Williams Realty Leading Edge.

65 Novelty RD, Warwick RI, 02889


Sale Price

Beds Total
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Lots of potential in this small gem on a large, corner lot with fully fenced backyard. Spacious living/dining area which opens right into the kitchen. Plenty of sight lines! With a little love & creativity, you can have this home finished & updated exactly how you'd like. Excellent price point for a starter home if you also have room in your budget to make upgrades.

Similar Properties

Categories: Sold Homes  

Posted by Paul W. Cutler on 9/24/2017

If you've bought a home that includes kitchen appliances, you may need to sell your current appliances before moving day. Fortunately, if you host a garage sale, you can sell a wide range of kitchen appliances in no time at all.

Some of the most popular kitchen appliances to sell at a garage sale include:

1. Refrigerator

In many instances, a homebuyer will request a refrigerator in a home offer. And if the seller accepts this proposal, a property buyer may need to get rid of his or her current refrigerator quickly.

Selling your refrigerator during your garage sale offers several benefits. First, you may be able to earn several hundred dollars for your refrigerator if it looks and performs great. You also can sell your refrigerator before your move, thereby eliminating the risk that you'll have to relocate this large, heavy appliance to your new address.

Evaluate the age and condition of your refrigerator prior to pricing it. That way, you can establish a competitive price for your appliance.

In addition, spend some time cleaning your refrigerator's interior and exterior. This will increase the likelihood that your refrigerator will stir up interest from garage sale shoppers.

2. Microwave

Although your kitchen microwave has served you well for many years, you likely have no need for two microwaves at your new address. Luckily, you can sell your current microwave now to earn extra cash prior to moving day.

Many microwaves are available, and as such, you'll want to learn as much as possible about your microwave. This will enable you to provide garage sale shoppers with plenty of information about your microwave's features.

Don't forget to test and clean your microwave before you add it to your garage sale inventory. By doing so, you can guarantee your microwave performs correctly and looks outstanding when you try to sell it during your garage sale.

3. Toaster

Your toaster has been a mainstay in your kitchen, but there may be no time like the present to sell it.

Remove crumbs and other food particles from your toaster as soon as possible. These particles can affect a toaster's performance, and in some instances, create fire hazards.

Furthermore, wipe down your toaster's exterior. An in-depth toaster cleaning will help you generate interest in your appliance during your garage sale.

Kitchen appliances usually are in high demand among garage sale shoppers. If you dedicate the necessary time and resources to clean and maintain these items, you should have no trouble selling them at a garage sale.

Lastly, if you plan to buy a home in the near future, you may want to consult with a real estate agent. This housing market professional can keep you up to date about new homes as they hit the market and help you submit offers on houses. Plus, a real estate agent will make it easy to plan ahead for a pre-moving day garage sale and ensure you can enjoy a seamless transition from one address to another.

Tags: kitchen   garage sale  
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Posted by Paul W. Cutler on 9/17/2017

Finding the ideal home for your family's needs is no easy task, but if you stay organized and focused, the right property is sure to come along!

One of your most valuable resources in your search for a new home is an experienced real estate agent -- someone you trust and feel comfortable working with.

They'll not only set up appointments for you to visit homes in your desired price range and school district, but they'll also help keep you motivated, informed, and on track. Once you know and have shared your requirements (and "wish list") with them, your agent will be able to guide you on a path to finding the home that will best serve your needs -- both short- and longer term.

In addition to proximity to jobs, good schools, and childcare, you'll probably want to pick a location that's close to supermarkets, recreation areas, and major highways. If you have friends or family in the area, then that would also be a key consideration.

While your immediate needs are a good starting point for creating a checklist of requirements, it's also a good idea to give some thought to what you may need in the future. Plans to expand your family, possibly take care of aging parents, or adopt pets are all factors to consider when looking at prospective homes to buy.

If you have college-age children or recent graduates in the family, you might have to save room for them in your new house. Many grads need a couple more years of financial and moral support from their parents (not to mention home-cooked meals) before they're ready to venture out on their own. Houses with a finished basement, a separate in-law apartment, or even a guest cottage on the property are often well-suited for multigenerational households.

In many cases, people tend to buy a home based on their emotional reaction to it, and then justify the purchase with facts. For example, if the price was right and a particular house reminded you of your childhood home, then that combination of elements could prompt you to make an offer on the house -- assuming those childhood memories were happy!

Sometimes prospective buyers might simply love the look and feel of a neighborhood or the fact that there's a spacious, fenced-in back yard in which they can envision their children or dogs happily (and safely) playing.

According to recent surveys, today's buyers are attracted to homes that have energy efficient features, separate laundry rooms, and low-maintenance floors, counter tops, and backyard decks. Gourmet kitchens, stainless steel appliances, a farmhouse sink, a home office area, and outdoor living spaces are also popular features. Although your tastes may differ, many house hunters also like design elements such as subway tiles, hardwood floors, shaker cabinets, pendant lights, and exposed brick.

When it comes to choosing the home that you and your family will live in for the next few years, your top priorities will probably include a sufficient amount of space, plenty of convenience, and a comfortable environment in which you and your loved ones can feel safe, secure, and happy for the foreseeable future!

Posted by Paul W. Cutler on 9/10/2017

Do you enjoy the hustle and bustle of the big city? If so, you're sure to enjoy a city home.

Ultimately, there are many reasons to consider purchasing a home in a big city, including:

1. You can enjoy quick, easy access to public transportation.

Let's face it owning a car sometimes can be problematic, and the costs associated with fuel, insurance and maintenance can add up quickly. However, you may be able to cut out some of these expenses if you live in the city.

Many cities feature public transportation systems that make it simple to travel from one location to the next. That way, you can avoid the hassles commonly associated with car ownership.

2. You can check out a broad assortment of attractions and entertainment.

The lights are always brightest in the city. Here, you can visit museums, historic landmarks and other attractions any time you choose.

For those who live in the city, you should have no trouble accessing a massive assortment of attractions and entertainment. From live theater performances to sports events, you can enjoy fun experiences in the city year-round.

3. You can visit a wide range of high-quality restaurants.

Foodies rejoice! Cities are home to some of the world's best restaurants, guaranteeing you can sample gourmet cuisine that you may struggle to find elsewhere.

Whether you appreciate traditional pub fare or elegant French dishes, you're sure to find exactly what you're looking for at a city restaurant. Plus, many city restaurants offer take-out menus, ensuring you can get first-rate cuisine delivered to your home.

How can you obtain a home in the city?

You don't need to be a millionaire to purchase a city home. In fact, here are three tips to ensure you can acquire an outstanding city house at a price that meets your budget:

1. Browse the housing market closely.

New homes reach the real estate market every day. As a homebuyer, you'll want to explore the housing market closely to find a residence that you can enjoy both now and in the future.

Examine the prices of recently sold homes in the city. Also, be sure to check out a variety of residences in-person. By doing so, you can understand what you can afford and map out your homebuying journey accordingly.

2. Get pre-approved for a mortgage.

Meet with multiple banks and credit unions before you begin your search for a city house. This will enable you to get pre-approved for a mortgage and kick off your home search with a homebuying budget in hand.

3. Work with a real estate agent.

Hire a real estate agent who understands a city's real estate market. This real estate professional will offer honest, unbiased homebuying recommendations. That way, you can accelerate the homebuying process and avoid the risk of spending too much on a city home.

Use the aforementioned homebuying tips, and you can move one step closer to securing your dream home in the city of your choice.

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