Rhode Island Real Estate and Community News

June 24, 2024

Success Story: Selling Back Bay Condo – Behind the Scenes

Introduction

We’re excited to share a behind-the-scenes look at our recent successful sale of a stunning Back Bay condo. Our team’s dedication, strategy, and attention to detail ensured a smooth transaction and a happy client. Here’s how we did it.

Property Overview

Address: 341 Beacon St, #3C, Back Bay, Boston, MA 02116
Type: 1-Bedroom Condo
Listing Price: $989,000
Selling Price: $975,000
Time on Market: 8 days

Initial Consultation and Market Analysis

Our journey began with an in-depth consultation with the condo owner,  to understand their goals and timeline. We conducted a comprehensive market analysis to determine the optimal listing price, considering recent sales, market trends, and the unique features of the property. In this case, we recognized that sales of similar units were in the $875k-925k range. We believed this listing represented a superior product, so tested the market at a list price of $989,000 or ~$1,150/sf. 

Preparing the Property

  1. Staging and Interior Enhancements:
    We partnered with a professional staging company to highlight the condo’s best features. We’ve worked extensively with Monique and her team, and they do great work at a reasonable price. We also engaged the services of our local handyman and carpenter, Mark Nescio, who added a fresh coat of paint and refinished hardwood flooring to transform the space, making it irresistible to potential buyers. Prior to sale, the seller had contracted out a full gut renovation of the bathroom, which we can’t take credit for, but certainly helped sell the property at a record setting price.

  2. High-Quality Photography and Videography:
    We hired a top-notch photographer and videographer to capture the condo’s essence, hat tip to Madore Photography. High-resolution images, floor plans, and a cinematic video provided prospective buyers with an immersive experience.

Strategic Marketing Plan

  1. Digital Marketing: We leveraged multiple online platforms, including our website, social media channels, and real estate listing sites. Targeted ads reached a wide audience, driving traffic to the property’s listing page.

  2. Open Houses and Private Showings: We hosted several open houses and private showings, ensuring the property was available for viewing at convenient times for potential buyers.

  3. Mining for Hard-to-Find Data: We made calls to other brokers in the area to “prime the pump” for active and qualified buyers who’d missed out on similar offerings prior to going on market. This ensured they had proper notice to plan to tour privately and lead to an open house with over 17 interested parties during a 90 minute showing window.

Negotiation and Closing

Our experienced agents handled all negotiations, ensuring our clients received the best possible offer. We coordinated with attorneys, inspectors, and the buyer’s agents to ensure a smooth and timely closing process. We successfully navigated a few unexpected obstacles including an unbeknownst open permit. The previous owner had opened a small permit for adding cabinets that was never closed out over 15 years ago. The buyer didn’t want to close until that permit had been successfully closed. To expedite, we worked with the city’s building inspector who quickly closed it out administratively, allowing us to close without delay. 

Client Testimonial

Here’s what our delighted client had to say about their experience:

"The team was exceptional from start to finish. Their expertise and dedication made selling my condo a breeze. We couldn’t be happier with the outcome!"

Conclusion

Selling a property in the competitive Back Bay market requires a combination of strategy, hard work, and market knowledge. Our team is committed to delivering outstanding results for every client. If you’re considering selling your property, contact us today to learn how we can help you achieve your real estate goals.

Ready to sell your property?

Contact us at (401) 307-3768 or hello@cotepartnersrealty.com to schedule a consultation. Let’s make your real estate dreams a reality!

 

Posted in Selling Your Home
June 24, 2024

Discover Your Dream Home in Fox Point, Providence

Discover Your Dream Home in Fox Point, Providence

Welcome to your new home in the vibrant Fox Point neighborhood, an ideal setting for those seeking a balance of urban convenience and a cozy, community feel. This smartly updated and spacious two-level top-floor unit is a gem in the heart of Providence, perfect for remote work, shared living, and growing families.

Embrace Spacious Living and Modern Comfort

Main Level: Comfort and Style

The main level of this charming home boasts two generously sized bedrooms, each featuring deep closets that offer ample storage space. A full bathroom, tastefully refreshed, provides modern amenities and style. The new flooring throughout the unit not only enhances the aesthetic appeal but also ensures durability and ease of maintenance. Fresh paint gives the entire space a bright, welcoming atmosphere that makes you feel at home the moment you step inside.

Second Level: Flexibility and Creativity

Venture upstairs to discover three versatile “bonus rooms” that open up a world of possibilities. These rooms have previously served as a guest bedroom and two office spaces, demonstrating the unit’s flexibility for creative use. Whether you need additional bedrooms, a playroom for the kids, or dedicated work-from-home offices, this space adapts to your needs.

Modern Amenities for Convenient Living

This home is equipped with a range of modern conveniences designed to enhance your lifestyle. The kitchen and bathroom spaces have been thoughtfully updated, offering contemporary finishes and appliances. In the basement, you’ll find dedicated storage and your very own washer and dryer, which convey with the property, adding to the convenience.

Additional Features

  • One Off-Street Parking Space: Say goodbye to the hassle of street parking with your own dedicated space.

  • Central Air Conditioning: Stay cool and comfortable during the warm summer months with efficient central AC.

Prime Location in Fox Point

Living in Fox Point means you’re just a short walk away from some of Providence’s top restaurants and shopping destinations. Enjoy the convenience of nearby Trader Joe’s for your grocery needs, and explore the culinary delights and retail therapy options right in your neighborhood.

  • Proximity to Brown University: Ideal for students, faculty, and staff looking for a short commute.

  • East Bay Bike Path: Perfect for those who love to bike or enjoy scenic walks.

Take a Virtual Tour

Watch our video tour here to get a closer look at the stunning interiors and versatile spaces this home offers. For a detailed layout, check out our floor plans.

Contact Us

This beautiful home in Fox Point won’t last long on the market. Don’t miss your chance to make it yours. Reach out now to us now for more information or to schedule a personal tour. We’re here to help you every step of the way in finding your dream home.

 


 

Fox Point is more than just a neighborhood; it’s a lifestyle. With its blend of historical charm and modern amenities, it’s the perfect place to call home. Reach out to us and discover what makes this property and community so special.

 

Posted in Buying a Home
June 20, 2024

Wayland Square: The Charming Intersection of Tradition and Modernity in Providence - Part 3

Welcome to the third installment of our exploration of Providence’s East Side neighborhoods. Following our journey through the historic College Hill, we now turn to the equally captivating Wayland Square. For those who missed Part 2 on College Hill, you can catch up here. Wayland Square effortlessly marries the quaint charm of a village with the dynamic energy of an urban center, making it a must-visit locale.

Wayland Square: A Quintessential Snapshot of Providence 

Nestled just a short stroll from the academic hubs of Brown University and the serene Blackstone Boulevard, Wayland Square embodies the perfect blend of residential tranquility and commercial vibrancy. This picturesque enclave is a microcosm of Providence’s unique charm.

Scenic view of Wayland Square

A Walk Through History 

Wayland Square, named after Francis Wayland, the influential fourth president of Brown University, is steeped in history. Although it doesn’t boast the same age-old heritage as College Hill, it has grown into a community rich in stories and architectural beauty, making it a treasure trove for history enthusiasts.

Historic building within Wayland Square

The Vibrant Pulse of Wayland Square Today 

Today, Wayland Square is a bustling hub, brimming with independent boutiques, cozy cafes, and fine dining establishments. The neighborhood is a hive of activity, from morning joggers on Blackstone Boulevard to evening diners enjoying culinary delights.

Lively scene in Wayland Square

Five Essential Experiences in Wayland Square

  • Indulge in Culinary Delights
    The culinary landscape of Wayland Square is a feast for the senses. From the artisanal pastries at Olga’s Cup & Saucer to the innovative farm-to-table dishes at Waterman Grille, there’s something to tantalize every palate.

  • Explore Unique Boutiques
    Shopping in Wayland Square is a delight, with a plethora of independent boutiques offering unique finds. Frog & Toad, for instance, features an eclectic mix of gifts and locally crafted products.

  • Savor a Coffee Break
    The cafes in Wayland Square provide perfect spots for a relaxing break. L’artisan Cafe & Bakery is particularly beloved for its cozy atmosphere and delectable treats.

  • Stroll Through Green Spaces
    The green spaces surrounding Wayland Square, such as the scenic Blackstone Boulevard, offer a peaceful retreat. Perfect for a leisurely walk or a rejuvenating jog, these areas are gems of tranquility.

  • Immerse in Local Art and Culture
    Wayland Square’s vibrant arts scene is not to be missed. Local galleries and cultural venues celebrate the creativity of Providence’s artists, adding to the neighborhood’s dynamic spirit.

Interior shot of a local gallery

Living in Wayland Square: Harmony of Convenience and Community 

Wayland Square offers residents the convenience of urban living paired with a strong sense of community. With excellent schools, inviting parks, and a friendly atmosphere, it’s a highly desirable place to call home.

Charming residential street

 

Wayland Square’s charm lies in its ability to provide contemporary conveniences while maintaining a warm, community-focused spirit. It’s not just a neighborhood; it’s a vibrant, thriving part of Providence’s fabric. Join us next time as we continue our series, delving deeper into the distinctive neighborhoods that make Providence’s East Side so captivating.

Posted in Community News
March 18, 2024

College Hill: The Historic Heartbeat of Providence’s East Side - Part 2

Embark on the next chapter of our Providence’s East Side neighborhood series as we ascend to College Hill. Read Part 1. Here, the layers of American history and the pursuit of knowledge intertwine, creating a district that is as intellectually rich as it is visually stunning.

A Walk Through Time on College Hill

College Hill's narrative is a storied tapestry woven into the nation's fabric. Home to Brown University and the Rhode Island School of Design (RISD), College Hill is more than a neighborhood; it’s a landmark of intellectual fervor and historic preservation. As you wander through the streets, you are walking alongside the footprints of America’s earliest scholars and statesmen.

Here, the past is not overshadowed by the present but celebrated through it. Eighteenth-century buildings stand proudly amongst modern-day establishments, while the spirit of the American Revolution whispers among the leaves of the ancient trees that line the historic district.

College Hill Today: A Nexus of Culture and Education

Today, College Hill is synonymous with academic excellence and cultural sophistication. The presence of prestigious institutions like Brown and RISD contributes to the neighborhood's vibrant atmosphere, attracting a diverse tapestry of students, educators, artists, and professionals.

The blend of Colonial-era architecture and avant-garde art installations makes every stroll an encounter with living history and contemporary creativity. It’s a place where the old and new not only coexist but also complement each other.

5 Quintessential College Hill Experiences

1. Immerse Yourself in the Intellectual Ambiance

Embrace the intellectual ambiance as you explore the campuses of Brown and RISD, where the future of arts and sciences is being shaped. Feel the academic buzz that's been a constant since the founding of Brown in 1764.

2. Architectural Marvels and Historic Homes

Marvel at the architectural wonders that College Hill offers. From the stately John Brown House to the Athenaeum, every building tells a story. These historical landmarks are not just structures; they are chronicles of a bygone era.

3. Literary and Artistic Exploration

Visit the Athenaeum, Providence's own “repository of knowledge,” which has stood as a beacon of literature and culture since 1836. Not far behind, RISD Museum beckons with its collections that span continents and centuries.

4. A Taste of Culinary Excellence

Indulge in culinary delights that reflect the neighborhood's character. From cozy cafés to gourmet restaurants, College Hill satisfies all palates with its diverse dining scene. In a neighborhood known for culinary innovation, Plant City stands out as a revolutionary dining concept. Conceived by the internationally acclaimed chef Matthew Kenney and local entrepreneur Kim Anderson, this 'vegan village' is a culinary oasis where sustainability meets taste. Experience a smorgasbord of plant-based delights under one roof. From the Mexican-inspired Besina with its jackfruit pastor tacos and nachos drenched in cashew crema to Double Zero’s elegant raw lasagna and truffle pizza, Plant City is a destination for foodies and environmentalists alike. And with local favorites like the Nitro Cart's nitro cold brew, every visit feels both globally inspired and distinctly Providence.

5. Panoramic Views and Serene Spaces

Find solace in the serene green spaces, like Prospect Terrace Park, offering panoramic views of the Providence skyline, or the tranquil garden of the Nightingale-Brown House.

Residing in College Hill: A Blend of Legacy and Lifestyle

To live in College Hill is to embrace a lifestyle enriched by history and driven by innovation. The convenience of modern amenities, set against the backdrop of centuries-old institutions, provides a living experience that's as enriching as it is charming.

Conclusion: The Enduring Allure of College Hill

College Hill's allure lies in its ability to nurture the legacy of the past while fostering the seeds of tomorrow. This neighborhood is not just a location; it’s a cornerstone of Providence’s identity. Join us as our series continues, unveiling the unique fabric that makes each neighborhood on Providence’s East Side a treasure of its own.

 


 

 

Stay tuned for Part 3, where we will explore the next gem in Providence’s collection of neighborhoods: Wayland Square.

Posted in Community News
March 13, 2024

Exploring Fox Point: The Vintage Heart of Providence's East Side - Part 1

Welcome to the first installment of our journey through the diverse and historic neighborhoods of Providence’s East Side. Our series begins with Fox Point, a neighborhood where the echoes of history meet the footsteps of the present, creating a uniquely vibrant community.

A Stroll Through History in Fox Point

Fox Point is not just a neighborhood; it's a mosaic of Providence's past, present, and future. Located just three miles southwest of Downtown Providence, Fox Point is one of the city's oldest neighborhoods, where colonial and Victorian homes line the streets, serving as picturesque monuments of a storied past.

This area, resting at the confluence of the Providence and Seekonk Rivers, has long been the heartbeat of Providence’s rich maritime history. From a bustling seaport in the 1680s to a haven for artists and academics today, Fox Point's evolution is as colorful as the houses that adorn its streets.

Fox Point Today: A Symphony of Old and New

In modern times, Fox Point retains its quaint charm with old-fashioned architecture, yet buzzes with a youthful energy, thanks in part to its proximity to Brown University and the Rhode Island School of Design (RISD). This juxtaposition of the historic and the modern gives Fox Point its unique character—a neighborhood that's as walkable as it is eclectic, brimming with local eateries, artisan shops, and a welcoming, diverse community.

The Top 5 Experiences in Fox Point

1. Unwind in India Point Park

India Point Park offers more than just a green space; it's a living album of Providence's maritime legacy. This scenic park boasts unparalleled views of the Providence Harbor and the Seekonk River, serving as a serene retreat for residents and visitors alike.

Walkers and joggers can enjoy the lighted pathways, which include both paved and stone dust trails that hug the water's edge. For the little adventurers, the park features a well-equipped playground complete with ropes, swings, and a sandbox. The ceremonial dock and the pedestrian bridge crossing Rt. 195 connect the tranquility of the park with the vibrant Fox Point neighborhood.

India Point Park comes alive with the spirit of the community during the annual 4th of July fireworks. Throughout the summer, it transforms into a hub of activity hosting concerts and festivals that celebrate the city's culture. Adjacent to the park, Seastreak and RIPTA ferries whisk passengers off to Newport, offering a maritime adventure of their own.

This park's roots are deeply entwined with the city's seafaring past. In the 19th century, it stood as a bustling nexus of sea commerce and was home to Providence's very first train station. The wooden pilings dotting the water are silent sentinels of the warehouses that once defined the waterfront. Over time, as the prominence of shipping waned, these docks gave way to less glamorous uses until 1974, when environmentalist Mary Elizabeth Sharpe envisioned a new future for this storied land.

Thanks to Sharpe's efforts and her successful campaign to persuade the mayor to invest in the transformation, India Point Park has been reborn. Today, it's lovingly maintained by the Friends of India Point Park and stands as a testament to the city's commitment to reclaim and cherish its historical spaces. Whether you're looking for a place to picnic, bike, or simply bask in the waterfront ambiance, India Point Park is a destination that embodies the soul of Fox Point.

2. Groceries and Goodies at Trader Joe's

Just a few blocks from most homes in Fox Point, Trader Joe’s offers a delightful shopping experience where you can find a variety of organic and artisanal products.

3. The Coffee Culture of Wickenden Street

A cup of coffee on Wickenden Street is not just a caffeine fix; it's an experience. This quirky thoroughfare is dotted with cafes that offer a respite from the everyday hustle—a perfect spot for coffee aficionados and people watchers alike.

4. Craft Beer at Narragansett Brewery

Narragansett Brewery is a testament to Providence's love affair with craft beer. Savor a pint of local brew and immerse yourself in the rich brewing history that Narragansett has to offer.

5. Al Fresco Dining at Al Forno

No visit to Fox Point is complete without tasting the iconic grilled pizza at Al Forno. Dining here means enjoying not just the food, but the art of a perfect pizza in an al fresco setting.

Living in Fox Point: A Blend of Sophistication and Simplicity

Living in Fox Point means embracing a lifestyle that combines urban sophistication with neighborhood charm. From the historic homes on tree-lined streets to the convenience of nearby amenities and the I-195, Fox Point is an ideal place for those who love the city life but appreciate a tight-knit community's warmth.

The vibrancy of Fox Point extends beyond its borders, with downtown Providence just a stone’s throw away, offering an even broader spectrum of cultural and dining experiences.

Conclusion: Embrace the Eclectic Charm of Fox Point

Fox Point stands out as a distinctive patchwork of Providence’s heritage, a place where history is not just remembered, but lived. As we continue our series on the neighborhoods of Providence’s East Side, we invite you to explore each enclave's unique story and personality.

 

Stay tuned for the next chapter, where we will uncover another gem in this crown of neighborhoods.

Posted in Community News
March 12, 2024

Discovering the Charm of Pawtuxet Village: A Hidden Gem for Homebuyers

Introduction

Nestled in the heart of Rhode Island lies Pawtuxet Village, a quaint and historic area that offers a unique blend of old-world charm and modern conveniences. This picturesque neighborhood, straddling the cities of Warwick and Cranston, is an ideal location for those looking to purchase a home in a community with rich heritage, scenic beauty, and a tight-knit atmosphere. In this blog, we delve into what makes Pawtuxet Village a sought-after destination for homebuyers.

Why Pawtuxet Village?

Historic Charm and Architectural Splendor

Pawtuxet Village is not only steeped in history but also showcases a remarkable architectural tapestry that spans several centuries. The village's streets are lined with beautifully preserved homes and buildings that offer a visual journey through time. Among these, the colonial-style homes, with their distinct clapboard facades and gabled roofs, reflect the early American spirit. The Victorian-era influences are evident in the ornate details of many houses, including decorative trim and wrap-around porches that invite neighborly conversation and leisurely afternoons.

Noteworthy is the Rhodes Place district, where architecture aficionados can admire a range of styles from Greek Revival to Queen Anne. These structures not only embody the aesthetic preferences of their time but also tell the stories of the village's evolution from a modest colonial settlement to a prosperous maritime community.

This architectural diversity provides a unique backdrop to everyday life in Pawtuxet Village, making it a living museum that residents call home. The care taken to preserve these architectural gems reflects the community's pride in their heritage and contributes to the area's charm and appeal.

A Community with Character

The village is renowned for its community spirit and engaging local events. From the annual Gaspee Days Parade, commemorating an important event in American history, to the local farmers' market, Pawtuxet Village fosters a sense of belonging and community unlike any other.

Natural Beauty and Outdoor Activities

Situated at the mouth of the Pawtuxet River, the village offers breathtaking waterfront views and numerous outdoor activities. Residents can enjoy kayaking, fishing, or leisurely walks along the riverbank and in the nearby parks. The blend of natural beauty and recreational opportunities adds to the quality of life for Pawtuxet Village homeowners.

Convenient Location

Pawtuxet Village's strategic location offers the best of both worlds: a serene, community-focused lifestyle with easy access to the amenities and job opportunities in Providence and Warwick. This balance makes it an ideal spot for professionals, families, and retirees alike.

Real Estate Opportunities

The real estate market in Pawtuxet Village caters to a diverse range of preferences and budgets. Whether you're searching for a historic home that tells a story, a waterfront property with stunning views, or a modern apartment close to local amenities, Pawtuxet Village has something to offer. The area's appeal and stable market make it a wise investment for potential homeowners.

Exploring Culinary Treasures in Pawtuxet Village

Pawtuxet Village, a gem nestled in Rhode Island, beckons with its scenic charm and a culinary scene that promises to tantalize taste buds. Here's a curated list of must-visit restaurants in the area:

  • River's Edge Bistro: Situated along the tranquil banks of the Pawtuxet River, River's Edge Bistro is a haven for food enthusiasts seeking an exquisite dining experience. Boasting a diverse menu that marries local flavors with international influences, this bistro offers everything from savory seafood delights to succulent steaks. Whether you're savoring a leisurely brunch or indulging in a romantic dinner, River's Edge Bistro promises to elevate your culinary journey. @riversedgebistro

  • Harbor House: Perched on the waterfront, Harbor House invites patrons to revel in its laid-back ambiance while relishing a delectable array of coastal-inspired dishes. From freshly shucked oysters to mouthwatering lobster rolls, each creation at Harbor House celebrates the bounty of the sea. Pair your meal with a refreshing cocktail and soak in the picturesque vistas for an unforgettable dining experience. @harborhousepawtuxet

  • Village Vineyards: For aficionados of fine wine and gourmet fare, Village Vineyards beckons with its sophisticated charm and impeccable offerings. This cozy establishment boasts an extensive wine selection curated to complement its artisanal cheese platters, charcuterie boards, and small plates. Whether you're seeking a cozy spot for an intimate gathering or a leisurely evening of wine tasting, Village Vineyards promises to delight discerning palates. @villagevineyards

Each of these culinary destinations not only serves up exceptional cuisine but also reflects the rich tapestry of Pawtuxet Village's community spirit. Dining here isn't just about satisfying hunger; it's about forging memorable experiences and celebrating the essence of local culture and hospitality.

Conclusion

Pawtuxet Village is more than just a place to live; it's a community that offers a lifestyle imbued with history, natural beauty, and a strong sense of belonging. For those looking to purchase a home in an area that celebrates its past while.

Posted in Buying a Home
March 8, 2024

2024's Top Real Estate Markets in Rhode Island: Highest Appreciation Revealed

Explore the top 5 real estate markets in Rhode Island with the highest appreciation rates in 2024. From Block Island's natural beauty to Providence's urban charm, find out which areas are leading in growth and why.

 

In this article, we delve into Rhode Island's vibrant real estate market to spotlight the top 5 markets experiencing the highest rates of appreciation year of year from 2023 to 2024. From the quiet shores of Block Island to the historic streets of Providence, join us as we explore these flourishing markets that stand out in the Ocean State for their remarkable appreciation.

 

Rank: Town: Price Increase:

#1 Block Island 55.14%

#2 Westerly 39.74%

#3 Providence 15.29%

#4 Bristol 14.29%

#5 Newport 13.64%


Block Island

A haven of tranquility and natural beauty, Block Island leads the charge with an impressive 55.14% leap in median prices, reaching $1,962,500. Known for its stunning cliffs, serene beaches, and miles of untouched landscapes, this island offers a retreat for those seeking solitude amidst nature's best. It's a world apart, where the Atlantic's whispers and the charm of small-town living meld into an irresistible allure. 

Westerly

With its median price soaring by 39.74% to $687,500, Westerly is a testament to Rhode Island's coastal allure combined with a rich tapestry of cultural offerings. This town is a blend of sandy shores, historic landmarks, and a lively arts scene, making it a cornerstone of Rhode Island's charm. The Victorian architecture and the bustling arts festivals are just the tip of the iceberg, revealing Westerly's multifaceted appeal.

Providence

The heartbeat of Rhode Island, Providence, showcases a robust 15.29% increase in median prices, weaving together the historical and the contemporary into a vibrant urban tapestry. This city's eclectic mix of colonial homes, cutting-edge culinary spots, and rich cultural sites makes it a beacon for urbanites and history buffs alike. Providence is where the old world meets new aspirations, making it a melting pot of opportunities and experiences. 

Bristol

Embodying patriotic fervor and a rich maritime heritage, Bristol's real estate market witnessed a 14.29% rise in median prices. This town is synonymous with the longest-running Fourth of July celebration in the U.S., showcasing its deep-rooted American spirit. The waterfront views, coupled with the historical downtown, paint a picture of Bristol's enduring charm and vibrant community life offering a highly walkable experience. 

Newport

A synonym for luxury coastal living, Newport saw a 13.64% uptick in median prices. Famous for its opulent mansions, sailing culture, and historic landmarks, Newport offers an exquisite blend of high society and rich American history. The Cliff Walk and bustling harbor are just glimpses into Newport's storied past and luxurious present, making it a jewel in Rhode Island's crown. 

 

These vibrant markets are the pillars of Rhode Island's real estate scene, each with its unique story and allure, offering a slice of life that's distinctly Ocean State.

 

Posted in Market Updates
Feb. 15, 2024

Top 5 Winter Activities in Warren, RI: Your Guide to Seasonal Delights

As the winter season blankets Warren, RI, in its serene and frosty beauty, the town comes alive with a unique array of activities perfect for those chilly months. Whether you’re a local looking to rediscover your town under the snow or a visitor seeking a quaint New England winter experience, Warren offers something special for everyone. Here’s a look at the top 5 winter activities in Warren, RI, including a fun indoor option that promises good times regardless of the weather.

1. Discover History with the Warren Heritage Walk

Embrace the crisp winter air with a walk through Warren's storied past on the Warren Heritage Walk. This self-guided tour meanders through historic districts, showcasing the town's rich heritage and architectural marvels. With each step on this frosty journey, you’ll uncover stories of Warren’s maritime history and its evolution over centuries. It’s a perfect blend of education, exercise, and scenic beauty.

2. Immerse in Art at the Imago Gallery

The Imago Gallery, operated by the Imago Foundation for the Arts on Market Street, becomes a cozy refuge from the cold, offering a glimpse into the local art scene. Winter exhibitions often feature works by Rhode Island artists, making it an ideal spot for those looking to explore contemporary art and maybe find a unique piece to take home. The gallery also hosts various events and workshops, providing a warm, creative space for visitors and locals alike.

3. Enjoy Comfort Food at The Square Peg

For those seeking warmth and comfort, The Square Peg on Water Street delivers with its cozy ambiance and delicious American cuisine. This beloved local eatery serves up everything from hearty burgers and seafood chowder to warm beverages, making it the perfect spot to defrost after a day exploring Warren. Its friendly atmosphere and tasty offerings make it a winter favorite.

4. Engage in Indoor Fun at Dudek’s Bowling Alley

No winter guide to Warren would be complete without mentioning the iconic Dudek’s Bowling Alley. This family-owned spot offers a throwback vibe with its classic lanes and friendly competition. It’s an excellent choice for families, friends, or couples looking for an indoor activity where fun and laughter are guaranteed. Plus, bowling at Dudek’s is a great way to stay active and socialize during those days when the winter weather keeps you indoors.

5. Explore the East Bay Bike Path

The East Bay Bike Path offers an unparalleled outdoor experience, even in winter. Stretching from Providence through Warren to Bristol, this path offers breathtaking views of the Narragansett Bay amidst a winter landscape. It's perfect for a brisk walk, bike ride, or even cross-country skiing, allowing you to appreciate the serene beauty of Rhode Island in winter.

Wrapping Up

Warren’s winter activities showcase the town’s diverse appeal, from its historical roots and artistic endeavors to its cozy dining spots and indoor entertainment options like Dudek’s Bowling Alley. Each activity offers a unique way to experience Warren during the winter months, whether you’re seeking outdoor adventure, cultural enrichment, or simply a fun day out with loved ones.

 

As you explore Warren this winter, you’ll find that the town’s charm only grows stronger with the cold, inviting you to make warm memories in this picturesque Rhode Island community. Whether you're bowling a strike at Dudek’s, exploring local art, or warming up with comfort food, Warren’s winter scene has something special for you.

Posted in Community News
March 10, 2022

Planning a Big Move to Little Rhody? Part 1: Areas Likely to Appreciate

 

Moving to Rhode Island:  A How To Guide for Families Buying Homes in the Ocean State.

 

Decision made: the family is moving to Rhode Island!

 

Now, time to narrow the search. Which towns? Which neighborhoods?

 

In last month's introduction, I made the case that prospective buyers should look at this through multiple lenses, including the potential return on the investment. For most, the purchase of a home is the most significant investment they'll ever make.

 

 

How reliably can we predict future appreciation?

 

We could ask the same question about any asset class: stocks, bonds, oil, etc. The naysayers will argue that appreciation is purely speculative. A roll of the dice. Cashflow, they'll say, is the only sure thing. And there's some truth to that, but shrewd investors know not to throw out the baby with the bathwater. Asset and wealth management is a multi-trillion dollar sector across the globe, and the wealthiest employ teams of fundamental analysts to do just this: carefully analyze available data to gain an edge on which investment opportunities hold the greatest upside for future returns.

Disclaimer: There's been a lot previously written on this topic. It ranges for the topical to overly technical. In what follows, I offer a more balanced take -- somewhere beyond conventional wisdom but short of standard deviations -- with a local context.

 

Indicator #1:Population Growth

One of the strongest drivers for appreciation is population growth. This one is pretty straightforward and noncontroversial: an increase in a market's population will increase demand and homes prices. Excluding towns with populations under 500 residents (sorry, Foster and Misquamicut), here are the towns with the highest growth rates over the last five years:

 

Kingston, RI: +6.03%

 

Cumberland, RI: +5.89%

 

South Kingston, RI: +5.23%

 

Providence, RI: +2.85%

 

Central Falls, RI: +2.53%

 

It's worth noting that as a state, Rhode Island's population has remained pretty steady overall, increasing 0.1% over the same time. The towns with the weakest growth were Woonsocket and Warwick, each declining in population by approximately 3%.

 

Indicator #2: Past Performance

Past performance doesn't always predict future success, but it's a good starting place. The following cities and towns have seen the biggest run up in median home price since 2000.

 

 

It's telling that 9 out of the 10 towns above are coastal, with the capital city being the lone exception (I guess you could make the argument for Providence). Of the waterfront-laden towns, there's a mix of tourist friendly spots (e.g. Block Island and Newport) and residential locations with well regarded public schools. Additionally, these are places where the median sale price for homes is already well above the state average, proving that that rates of highest growth aren't always with the up and coming locales.

 

Indicator #3: The Path of Progress

 

As Jay-Z once put it: “I could’ve bought a place in Dumbo before it was Dumbo / For like two million / That same building today is worth 25 million / Guess how I’m feeling? Dumbo.” If you invested in Dumbo, a then underutilized stretch of Brooklyn waterfront, you'd be a made man today. Last year, 85 Jay St. sold for $345 million to be used as a parking lot.

 

Enter Neil Bawa, real estate investing guru, who has developed a brilliant technique for modeling which areas in a town or city are likely to appreciate more rapidly than nearby neighborhoods. In a nut shell, he encourages investors to look for areas where median household incomes levels have risen ahead of home values.

 

It is my experience that home prices will always catch up to income levels.

 

Genius, right? And the data backs this up.

 

To visualize this, you can go here and search up your city or town of interest. To illustrate this concept, let's consider Providence's upper East Side. The first map (left) shows % change in median household income since 2000. The darker the gradient, the higher the growth. The second map (right) shows how median home values have changed in that same span of time.

 

The areas marked with $s are those where we would expect to see greater appreciation levels as home prices catch up to income levels over time. Obviously, there are many other factors to consider, but this framework will help direct our attention to areas with higher upside.

 

 

Local Investor Opinions

 

Which towns are likely to see above average rates of growth in value over the coming years?

 

I put took this question to a group of local buy and hold investors.

 

Several were bullish on waterfront communities that haven't yet seen the run up in appreciation of other similar town:

 

"In my opinion, I think you’ll see a great return in places like Island Park in Portsmouth, or anything with a water view in Tiverton. There are lots of older houses in these areas that people bought long ago, when there was plenty of waterfront property available." - Chris St. Peter, local investor

 

Another investor, Erika Twohig, offered this take: "I think we will continue to see a migration to RI from Boston and NY because of the water and “reduced” cost of living compared to the cities. Look at coastal towns, towns with main streets that are walkable, also semi rural towns with lots of land yet close enough to amenities."

 

Other picks included:

  • Pawtucket, especially the along the 95 corridor
  • Lincoln and Cumberland due to improving school rankings and location along 295.
  • Cranston due to its track record of being pro-business and pro-growth
  • The Elmwood, Olneyville and Silver Lake sections of Providence

 

If you're interested in my Top 5 Best Picks, reach out to me at tylercote@seybothteam.com.

Spoiler: Improving schools, proximity to water, and proximity to towns that have already seen large run ups in appreciation are the drivers I believe to be most predictive of appreciation.

 

Up Next: Schools

In our next post, we'll take a closer look at local school systems, one the most critical factor families must consider as they weigh potential landing spots.

 

Was this helpful? Way off base? Glaring omissions? Drop them in the comments section below.

 

March 9, 2022

Planning a Big Move to Little Rhody? A Home Buyer's Guide

Moving to Rhode Island: A How To Guide for Families Buying Homes in the Ocean State.

 

My first job out of college was teaching middle school Science on the northside of Houston. In Texas, it was impossible to drive anywhere without seeing bumper stickers pronouncing love for the state. Messages like “Don’t Mess with Texas” and “I wasn’t born in Texas, but got here as fast as I could.” And while Texas and Rhode Island don’t often get mentioned in the same sentence, this was proof that they share at least one thing: residents who think their state is second to none. Rhode Islanders are a proud people. And when you really think about it, what’s not to like? Miles of beautiful coastline. World class restaurants. Top ranked colleges. Del’s lemonade. And, not least of all, a capital city with more bars per capital than any other municipality in America. Those moving to Rhode Island have a lot to look forward to.

But let’s face it: The moving process can be daunting, even for seasoned travelers. These challenges are even greater when taking into account a move for a family. All at once, a move presents a long list of pressing questions that demand answers: What town or city do we move to? What are the neighborhoods like there? How are the schools? What about taxes? How do we time it with the sale of our current home?

 

As both a Rhode Island native who has moved five times in fourteen years and a realtor who has helped other families do the same, I write to share a few lessons learned. Each tip, offered here in Cliff Notes form, will be the subject of an upcoming post. 

 

Tip #1: Buy in neighborhoods likely to appreciate.

A home is the single most significant investment most people ever make. And yet, very little attention is paid to the likely return on that investment.

 

How crazy is that?

 

Consider this: the average age of a first time home buyer is 33. While there is no such thing as an “average home buyer” (everyone’s path towards homeownership is unique), let’s assume Joe, a prospective first-time home owner, is a young professional who contributes to a retirement savings account. It's unlikely that Joe's portfolio is made up a few hand-picked stocks, right? Too risky. So, Joe diversifies with a mix of mutual funds, each with built-in management fees. Or maybe he hires a financial advisor. Either way, it would seem reckless and unwise to chose these assets willy-nilly.

 

According to Zillow, the median house value in Rhode Island is right around $344,000 -- many times greater than the value of Joe’s retirement account. The town or city he buys in will impact the possible return on that investment. While ROI won't be the sole driver in his decision-making process -- at least for his primary residence -- smart home buyers must take this into account when considering a move. 

So, which towns in Rhode Island are likely to provide the most bang for the buck over the next 5, 10, 30 years? We’ll explore this topic in next week’s post. 

 

Tip #2: Do your homework on the schools.

As a former educator and school leader, it is stunning how often smart, well-intentioned parents base important decisions, like where their children will attend school, on prevailing opinions rather than facts. “Oh, I hear the school system is really good here,” they’ll say. Perception is not always reality in this case. Before narrowing your home search to a particular town, it's worth unpacking some of the assumptions. What’s the college persistence rate? How do the athletic and performing arts program compare to neighboring districts? Or, on a more current note, how effectively has the district supported learning during the pandemic?

 

In a future post, we’ll dive into the process of vetting school systems and show that there's more than meets the eye than the U.S. News and World Report ranked lists.

 

Tip #3: Walk the neighborhood (or have your realtor). 

Real estate sites like Zillow and Redfin allow buyers to access and consume lots of data about a property in a short amount of time. Paired with high res photos and now common 3D tours, buyers can get a good understanding for the condition, layout, and flow of a property before setting foot inside it. But for all the technological advancements, there are things a prospective homeowner feels that weigh heavily into the decision-making process. Is the neighborhood walkable? Is it on a quiet side street or a cut through from one part of town to another? What do you hear when you step outside? Cars? Crickets? Neighbor's barking dog? And how do these factors change as you walk a few blocks in either direction?

 

A realtor with local expertise and tools like Neighborhood Scout and Google Street View can go a long way to providing the whole picture.