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Why has Rhode Island got so many old ugly houses for twice the price of other areas of the country? Really bad
We have lived and owned property in 3 states in the past 5 years. We are now trying to return to Rhode Island. What we sold in New Mexico, Arizona, and Florida were beautiful 2000 sq ft properties..new..big master with private bath..etc for low 200000.00 ranges. In Rhode Island we are looking all over and finding few similar homes exist. Old 700 sq ft junkers in bad areas are more than our beautiful homes elsewhere. As much as I would like to be near the grandkids...I am fearing we can not afford to live our lifestyle here.
Will prices drop? To get what we want here is about 375000.00.
2 Answers
- godgedLv 71 decade agoFavorite Answer
That is typical of the era, alot of those RI homes were built when houses were meant to be practical spaces, small enough to heat efficiently in winter, one bedroom for the parents, one for the kids, one bath, etc., etc..
Prices are about as low as they are going to go, if they do go lower, it isn't going to be significant, perhaps 5% - 10% more in reduction before the housing market starts to pick back up.
Source(s): Oregon Realtor
