How bad is job market in RI ? or how good ? (Providence: short sales, real estate)

[LizzyWNC]

Would like to relocate to RI this summer; want to buy 2 or 3 bedroom modest home in safe quiet area. Will need steady part time office job in legal or real estate office. Have questions about jobs and cost of lliving?

[GermanSpy]

I can't recommend this enough:

If at all possible try to have a job lined up before you make the move. If that's not an option I'd make sure to have enough money saved away to last a few months while you attempt to find work.

The job market is in tough shape.

About the cost of living, well, what would you like to know?

[Hollytree]

I'd start with Craigslist- they have a jobs category with entries for law and real estate. I wouldn't think that secretarial work would be that hard to come by if your experience is good, but do agree with germanspy, don't move to RI (or anywhere) without a job offer. There are several other job boards for RI- just google jobs in RI.

There is more affordable housing here now than before- many communities such as East Providence, Warwick, Cranston have affordable small homes. If you have sale proceeds from out of state, you will be ahead of the game.

It's impossible to generalize about budget without knowing more about your requirements- depends on number in family and your living standards.

[LizzyWNC]

Thank you Holly Tree; will give this some further serious thought and check Craig's list etc. to get a feel for what is going on. (single, prefer house not condo). Property taxes seem verrrrry high. Auto taxes very high. This all detracts from affordability factor and cost of living seems high even though home prices have dropped. Looking between $180K and $200K.

[Hollytree]

Did you say you were single and going to work part time? Most people count on 2 full time jobs to qualify for a mortgage- unless you have a huge amt to put down?

[LizzyWNC]

Originally Posted by Hollytree

Did you say you were single and going to work part time? Most people count on 2 full time jobs to qualify for a mortgage- unless you have a huge amt to put down?

Yes. that is correct.

[nate14ri]

you do realize that the current RI unemployment rate is top 2 in the country right?

[LizzyWNC]

Yup. Great time to buy. Interest rates are the lowest they have ever been, around 4.7%; market is flooded with foreclosures, short sales plus the normal attrition and, prices have dropped. But your property taxes and DMV taxes are what's killing RI. It's becoming a welfare state. Will turn around nicely though in a few years.

[Hollytree]

Nate, actually I think we're down to 4th(?)- here's recent stats

February Unemployment Rates, by State - Real Time Economics - WSJ

[Rnrboy]

Fifth actually.