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Many of the buyers are indeed seasonal. Some retirees, many second home buyers. Cheap by comparison. You get it. These newly discovered towns are increasingly having comparatively lower taxes because the new seasonal owners don't use services. Especially the schools. Assessments rise, taxes remain stable.
The two cautions I would have if I were buying in the Westerly area is distance from the river and distance from the airport/flight paths. I realize the airport is small and regional, however, with more affluent people buying second homes, it is bound to get more busy.
The two cautions I would have if I were buying in the Westerly area is distance from the river and distance from the airport/flight paths. I realize the airport is small and regional, however, with more affluent people buying second homes, it is bound to get more busy.
Just looked up Charlestown, there's some action there, but it doesn't compare to Westerly. I would imagine topography has something to do with it. And not as much inventory.
It's true, though, RI properties near or on the water are a bargain for people looking for summer homes.
This thread reads like an infomercial - similar to your Jamestown threads.
There are particular places in Rhode Island undergoing significant increases in real estate values. It just is. Sorry knowing the " where & why" seems to offend you so much.
Last edited by independent man; 04-23-2019 at 04:10 AM..
2010 was a bad year. There's a good amount of flood video on the 'net. It's not a frequent occurrence, but still something to be aware of.
2010 is one of the rare high marks for flooding data in most of the coastal northeast. It was a 100 year or even a 500 year flooding event in some areas. However, there may be a much more frequent occurrences in the age of Climate Change. Elevation Certificates are a must. They shouldn't be read frozen in time, but assuming a more rapid rise going forward.
This thread reads like an infomercial - similar to your Jamestown threads.
redplum, I apologize if I've upset you. All I did was go to one of the RE websites (I can't post it here because it would be considered real estate advertising and violate the TOS), I went to the one that begins with an R, not the one that begins with Z. I entered Westerly, RI, then filtered for houses only, low to high. You can do this, too. Again, I'd post the string right here, but it's not allowed. What I saw was house after house, pending, pending, pending, contingent, pending, pending, contingent, contingent, pending, etc. In other words, they were under contract. Granted, there were a few that were not under contract, but only a few. And yes, some will fall out of contract for one reason or another. I get that.
I haven't seen it quite like that in all the years I've been following that market, so I wondered what was going on. Especially when there's been dire news about all the people leaving states in New England and the Mid-Atlantic (except Virginia) because of taxes and regulations and such. What I expected to see was houses languishing on the market and price drops. I saw just the opposite, at least in Westerly.
I don't have a financial interest in Westerly, just an interest. I wish I did have a financial interest there. I've always liked that area ever since I discovered it. In my youth, I knocked around all over New England. Some of my family is located in Connecticut and I myself lived in Massachusetts for a while, including on Cape Cod. Like many, I used to skip over the Rhode Island coast. When I finally discovered it, I thought I died and went to heaven. In fact I tangled right here in this forum with a former RI resident who thought I was nuts for preferring the southern coast of RI to Cape Cod. But I do, and that's the way it is. From time to time I'll post here to find out how the summer is going for people who are in the area. I really do love it and am frustrated that I can't spend more time there myself and I guess that is why the thread reads like an infomercial.
I suspect that independent man shares the same enthusiasm that I do for certain parts of Rhode Island, but that doesn't mean we're hucksters.
2010 is one of the rare high marks for flooding data in most of the coastal northeast. It was a 100 year or even a 500 year flooding event in some areas. However, there may be a much more frequent occurrences in the age of Climate Change. Elevation Certificates are a must. They shouldn't be read frozen in time, but assuming a more rapid rise going forward.
It might have been a rare event, but if a property owner or lessor was unlucky enough to have been involved in the rare event, it's still a miserable experience. Elevation is everything.
With that said, Westerly has some lovely riverfront areas, so I can see why it might be tempting to purchase a property along the river.
It might have been a rare event, but if a property owner or lessor was unlucky enough to have been involved in the rare event, it's still a miserable experience. Elevation is everything.
With that said, Westerly has some lovely riverfront areas, so I can see why it might be tempting to purchase a property along the river.
There's no way in the world I'd buy anything in a flood zone. At some point very soon, much of that is going to be uninsurable. Particularly places with velocity hazard/wave action risk.
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