Tag: High-End Real Estate Sales
Residential Properties Ltd. has announced the sale of 30 Apple Tree Lane in Barrington for $1,060,000. RPL was proud to represent both sides of the transaction, with RPL Sales Team The Friedman Real Estate Group representing the seller, and Sales Associate Stephanie Nickerson serving as the buyer’s agent.
Originally built in 1875, this beautiful farmhouse rests on over an acre of land, complete with its own tennis court and inground pool. The home itself offers the best of both old and new, blending historic architectural details with modern updates and renovations. The interior features five spacious bedrooms, three-and-a-half baths, and a open floor plan providing views of Smith’s Cove.
As the listing team, The Friedman Group includes team members Ted Friedman, Betsy Friedman, Claudia Maiorana, and Lauren Schaller. They are current members of RPL’s Barrington office and are recent recipients of the Circle of Sales Excellence Platinum Award. For more information regarding The Friedman Group or to view its current listings, please visit FriedmanGroupRI.com.
Stephanie Nickerson, the buyer’s agent, is also a member of RPL’s Barrington office. She has over 15 years of experience in the real estate industry and is an ABR Certified and Relocation Specialist. For more information regarding Stephanie, please visit her agent bio page at ResidentialProperties.com.
Residential Properties Ltd. is proud to announce the sale of 46 South Meadow Lane in Barrington for $1,440,400. The listing, which was represented by RPL Sales Associates Barbara Stamp and Elizabeth Kirk, officially closed on Friday, May 20.
This marks the sixth Barrington property to sell for over one million dollars this year, four of which have been listed by Residential Properties Ltd.
Located in Barrington’s desirable Rumstick neighborhood, this custom built home features over 5,600 square feet of living space (3,983 above grade) set upon over an acre of waterfront property along picturesque Smith’s Cove. Containing four bedrooms and five full baths, the interior of the home showcases vaulted ceilings and expansive windows to take advantage of the tranquil water views.
Barbara Stamp is a lifelong resident of Bristol and has been a multi-million dollar producer since joining Residential Properties Ltd. in 1992. Specializing in condominium sales, waterfront properties, and luxury real estate throughout the East Bay, Stamp prides herself on listening to her clients’ needs and assisting them through every step of the real estate process.
Elizabeth Kirk is also a multi-million dollar producer, as well as a Rhode Island Monthly Five Star Realtor. Always extremely active in the Barrington community, Kirk is a member of the RI Country Club and Barrington Yacht Club, while also having served on the boards of the Barrington Early Childhood Center, the Executive Board of the Nayatt School PTO, and the Barrington Education Foundation. For more information on Elizabeth Kirk, please visit her website at ElizabethPKirk.com.
I have been selling real estate in Rhode Island for thirty-four years and 2009 will probably go down in my book as the most challenging. Everyday, I work to untangle a negotiation that is stuck or a problem that needs to be solved.
Our typical spring market generally begins in March and ends in June. The high-end typically is very quiet in the city over the summer with many buyers and sellers leaving for second homes and vacation time with loved ones. In the suburbs, most clients want to be settled into their new home by June so that their children get a chance to meet the neighborhood kids before the school year begins. But this year the spring market got pushed back a quarter and the summer seems to be atypically busy.
President Obama’s housing stimulus plan has allowed first-time homebuyers the opportunity to purchase a home and receive up to an $8,000 tax credit. The closing has to take place by November 30, 2009 so agents are busy seven days a week showing properties in the lower price ranges.
So, I understand why the lower ranges in the real estate market are coming alive, but why all of a sudden in the dead of summer is the high end beginning to have activity in some areas? The East Side and Barrington seem to be showing signs of coming out of their paralyzed high-end slumber. A handful has gone under agreement and is set to close before the end of August.
Once this happens, other buyers will follow because real estate professionals will have some comparable sales to be able to price new listings against or re-price listings that have been sitting on the market. Appraisers will be able to justify sales prices for the banks because they will have comps. It will be easier for sellers to understand why the competition sold. Was it price, condition, staging, marketing or a combination of all of them?
It is too early to say that we are coming out of this unprecedented real estate cycle but the good news is that buyers and sellers understand the market better. The media isn’t pummeling us hourly with bad real estate news. Everyday, you can find an article on an area of the country that is starting to see real estate activity. I am happy to report that like Sleeping Beauty awakening from her long slumber, we may be seeing the beginning of a slow awakening too.