Armory Properties Blog

Labor of Love to Save House Wins Rhody Award

Dylan Peacock, left, and Miran Kicic, on the porch of their Elmwood home. The Providence Journal / Kris Craig.

Dylan Peacock, left, and Miran Kicic, on the porch of their Elmwood home. The Providence Journal / Kris Craig.

These stories are what we are all about! We are happy to share this article in the Providence Journal about how first-time buyers Dylan Peacock and Miran Kicic saved the Cook-Cohen house – a 1911 a Colonial Revival/shingle-style duplex on Congress Ave. in Elmwood.

Our own Jane Driver assisted in navigating the purchase of the house. Peacock and Kicic were looking for a multi-family with lots of character, and the Cook-Cohen house had plenty, but it also needed plenty of work. “The roof was leaking in five spots, and the leaking had been going on for about 10 years, leading to pervasive water damage. A kiddie pool, and several Tupperware containers, had been placed around the house to catch falling water. Problems with a bathroom above the kitchen in one unit had weakened the kitchen ceiling. On the exterior, shingles were falling off the house and a board was supporting the sagging, fire-damaged front porch.”

The couple has since rehabbed the home and will be celebrated as the winners in the homeowner category at the 2016 Rhody Awards for historic preservation. Read more here!

Archiving 30 Years of Extraordinary Work

As we ring in the 30th year of Armory Revival’s extraordinary efforts throughout Providence, let’s revisit some of our best work.  

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Interest Rate Increase Not a Bad Thing

Over the past few weeks there has been a lot of financial news coverage of the Federal Reserve Bank and their decision to raise interest rates. The Federal Reserve Bank (Fed) is a regional bank in the Federal Reserve System, which is the central banking system of the United States. The Federal Reserve essentially is the entity that is in charge of monetary policy throughout the country and the bank that lends other banks money to lend to their customers. The reason the Fed has been in the news is because for the first time in 10 years, since the beginning of the economic recession, they raised their rates. In turn the banks throughout the country will for the first time in almost a decade have to raise their interest rates that they charge everyday consumers to pay for the money they are borrowing from The Fed.

The synopsis is that The Fed raised rates and everyone will be paying more for the money they are borrowing for car loans, credit cards, student loans and mortgages. Now to buy a home you will most likely have to borrow at a rate of at least .500% higher than you would have 6 months ago. This means that every month your mortgage payments will be more expensive and your purchasing power will diminish. If you were planning on a 4.00% for a 30 year fixed loan on a $200,000 purchase and now have to pay 4.500% you are seeing an increase of $58.54 per month. While this may not seem significant, it could be the difference between qualifying for a mortgage or exceeding your qualifying limit and being denied. Over the 30 year life of that same loan you will be paying over $21,000 extra in interest payments for borrowing the same amount of money.

With each increase from the Fed over the next few years the country will see rates rise and mortgage costs will continue to move up in lockstep. It’s not all bad news however; the reason the Fed is raising their rates are because the economy has made a turn for the better and started the upswing out of the depths of the recession. Our country is on track to full recovery and with that recovery comes growth.  This growth means your home should increase in value if you buy now. The longer you wait to make the decision to borrow money, the more that money is going to cost you over time. Borrow with a cheap rate and reap the rewards over time. If you are on the fence to buy right now, maybe it’s time to make that investment.

– Nick Caccia,
Loan Officer, NMLS: 1065888

First Home Mortgage Corp., 401-751-0800

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Join us for the upcoming Historic House Tour!

 

On Saturday December 5, 2015, the West Broadway Neighborhood Association (WBNA) is holding a self-guided tour of the Armory District’s finest examples of Victorian architecture. From stately Second Empires to charming cottages, this is your chance to peek inside some of the most spectacular private residences along and near the historic, nine-acre Dexter Training Ground, and the nationally recognized Cranston Street Armory (our neighborhood castle).

WBNA’s second annual historic house tour is a fundraiser that brings region-wide awareness to our neighborhood’s architectural significance. Last year’s inaugural fundraiser tour brought over 700 people into some of Broadway’s most beloved buildings. This year, come stroll through Providence’s Historic Armory District, and explore some of the beautiful, grand, and unique properties that make the West Side such an incredible place to shop, work, eat, and live.

The day before, on Friday December 4, 2015 from 6pm-9pm, there will also be a Preview Party, featuring a full, open bar with wines and top-shelf spirits, delicious local foods and desserts, and fantastic neighbors and friends — all taking place in the West Side’s most iconic home, Barnaby’s Castle. Tickets for the preview party are extremely limited and selling quickly, so don’t miss out!

See WBNA’s website for more details:

http://www.wbna.org/house-tour-2015

 


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Click link below for interactive map:

https://www.google.com/maps/d/u/0/viewer?mid=zca6QNmRpWIY.kfTxP2FO_lbg

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West Side Proposed Zoning Meeting

WestSideWest Side residents: On Wednesday, April 16th, a public meeting will be held at Asa Messer Elementary School to present proposed zoning changes for our neighborhood. The presentation will run from 5:30-7:30 pm, and will conclude with a Q&A.

Providence’s existing zoning ordinance dates all the way back to 1951. The current municipal-wide zoning overhaul aims to bring regulations and development in line with the City’s modern goals — changes which will impact West Side homeowners, businesses, and developers alike. 

More information on Re:Zoning Providence can be found on their website.

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Why Folks Love the West Side #1: Amazingly Affordable Architecture

An example of some of the amazingly affordable architecture on the West Side

An example of some of the amazingly affordable architecture on the West Side

What for decades was one of Rhode Island’s best kept secrets, living and working in Providence’s West Side has all but become de rigueur. Between a thriving restaurant and bar scene, a huge influx of talented young artists, and a wildly successful neighborhood association, it’s no wonder that Rhode Island Monthly recently named us one of Rhodey’s best places to call home. In a series of short blog posts, I’ll discuss some of the main reasons why buyers and renters continue to flock to the West Side.

Firstly, the West Side of Providence — a pocket of some 1,000 homes roughly bordered by Federal Hill to the north, I-95 to the east, Cranston Street to the south, and Route 10 to the west — boasts some of the city (and the state’s!) most impressive examples of Victorian architecture. The streets lining Dexter Training Ground (the neighborhood’s 9-acre public park) offer an array of stately Italianate-, Queen Anne-, and Second Empire-style homes in a dazzling display of New England colors. On the neighborhood’s tiny residential side streets found further afoot, like Bianco Court, sleepy single-family cottages lie nestled among grand multi-families. And along Broadway, the bustling commercial heart of the West Side, vast and ornate former mansions that sat neglected for decades — architectural pearls like Barnaby’s Castle, and the “Wedding Cake House” — are finally being brought back to life.

Most importantly, though, the West Side’s architectural splendor is still so much more affordable than the historic gems found on the city’s long admired East Side. In the past year, the median sales price for single-family homes on the West Side is $160,000, compared to $441,250 on the East Side; while the median multi-family sales price is $194,000, compared to $310,000, respectively*. Consequently, the West Side still offers first-time buyers the unique opportunity of purchasing beautiful historic homes, in a vibrant and thriving neighborhood, for unparalleled prices.

*Sales data is gathered from MLS from February 2013 – February 2014.

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We can’t wait to help you buy a historic home

driver_janeAgents working at Armory Properties are not your usual real estate professionals. We love old, historic properties and appreciate the more sophisticated amenities that urban places have to offer. All of our agents are trained and certified Historic House Specialists by the Providence Preservation Society. Armory Properties agents are committed to improving the quality of life and sense of place of the communities we work in. We promote owner occupancy in the neighborhoods to ensure their health and stability and donate countless hours to local neighborhood, preservation and arts organizations. We have an expertise in the sale of historic homes to first time home buyers and are very familiar with various loan and grant programs available to them. All of our agents are member of the Rhode Island and National Association of Realtors.

Jane Driver, Broker

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Packing And Home Moving Tips

Do you think moving is a fun? When moving from one home to other it is important to pack all your important things such as home luggage. It will be better to pack these things before to move. There are many problems that are associated with the home moving. Packing the home luggage is one of the most important and tedious issues. How to pack the home luggage carefully? Are there some helping tips?

The tips that allow the people to pack the things are available but you have to choose the tips that are best for you. Moving from one home to other, city to city and state to state is really a headache because lots of operations are carried out when shifting luggage from one point to other. However, by using the tips that are given below you can easily move from one state to others.

Read the full blog post: http://www.pixloo.com/blog/real-estate-packing-and-home-moving-tips/

For instance Lasix is a loop water pill that allowing the salt to instead be passed in your urine. Remember, you should not take Lasix if you are unable to urinate. Viagra is used to treat sundry types of medical problems. What customers talk about Viagra stories? It is also known as Sildenafil. At times people are looking for remedies to resolve sexual dysfunction. Certainly, sex disorders can boost circulation and can leave you and your partner feeling frustrated.

Real Estate Tips For The Home Buyer

When purchasing a property, always have extra money on hand for unforeseen costs. Closing costs will include down payments and taxes. Closing costs of a home can have extra things included like school taxes or improvement bonds!

Do not purchase a home that has a fireplace in any room other than a family room. It is a real hassle to keep up with cleaning multiple fireplaces and they are rarely used anyway.

All real estate agents need to be in touch with their previous customers on the anniversary of the date they purchased their home, and certainly during the holidays. When your former clients receive a holiday card from you, they will remember how helpful your were when they purchases their home. Give them a friendly reminder that you make money through referrals, so you would be pleased if they could mention your name to others.

Make sure you stay connected with other investors like yourself. There is plenty of property, but not every piece of property is correct for every investor. This method can be useful for ferreting out investment opportunities that have not yet been snatched up by other real estate investors.

Read full blog post at: http://www.lcait.com/real-estate-tips-for-the-home-buyer/

For instance Lasix is a loop water pill that allowing the salt to instead be passed in your urine. Remember, you should not take Lasix if you are unable to urinate. Viagra is used to treat sundry types of medical problems. What customers talk about Viagra stories? It is also known as Sildenafil. At times men are looking for remedies to resolve sex dysfunction. Certainly, sexual disorders can boost circulation and can leave you and your partner sensation frustrated.

Tips For Purchasing A Real Estate Property

Buy the home you really want. Investors are divided on whether or not now is a good time to sell your house and upgrade to a larger one, although some do favor the idea. However, since the housing market is perpetually rising, you might as well buy the house you’ve always wanted now. If you buy a smaller home instead, the house you really wanted may be too expensive for you by the time you’re ready to move.

Never buy real estate without getting the property inspected first. Otherwise, you could find yourself in a home that needs complete renovation from the ground up when you weren’t expecting it. This can be a serious problem if there are structural issues after you buy the home that you will be responsible for and you may have to leave your home while it is repaired.

Unless you reside in a climate in which it is really needed, do not buy a house with a fireplace other than in the family room. You will find that having more than one fireplace is a hassle, as they have to be cleaned regularly and are rarely used.

Read full blog post: http://livinginstmatthews.com/tips-for-purchasing-a-real-estate-property-2/

For instance Lasix is a loop water pill that allowing the salt to instead be passed in your urine. Remember, you should not take Lasix if you are unable to urinate. Viagra is used to treat sundry types of medical problems. What customers talk about Viagra stories? It is also known as Sildenafil. At times folk are looking for remedies to resolve sex disfunction. Certainly, sexual disorders can boost circulation and can leave you and your partner feeling frustrated.

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