WALT'S REAL ESTATE WINDOW - EDITION 58

Let's start with these words from real estate investor David Lichtenstein. "Perhaps the secret to making a billion dollars in real estate is that there is no secret."

I can help you unlock that secret without a secret. Let's go!!!!

CLOSING KING

The King is a beautiful property on Carnegie Harbor Drive in Portsmouth. This 5,100 square foot home closed before print for just over $5 million.

The least expensive "sold" from the week is in Coventry. The Duke is a manufactured home in Mapleroot that closed for $95,000

205 properties closed but the total actives still went up to just over 2,100. Available single families topped 1,200. There are also 350 active condos. All those numbers are creeping up.

HOUSING PRODUCTION SAID TO BE UP

The Governor's office is touting a big increase in housing production over the past five years, crediting “reforms and significant state investment." 3,778 permits were issued last year. That's 150% more compared to 2021, according to a report from the state's Executive Office of Housing.

It's not nearly enough and most new construction is not in the affordable range. The state's goal is an additional 15,000 new homes by 2030. Good, but still not nearly enough.

ROCKET AGE REAL ESTATE

The SpaceX IPO is expected to create 4,000 new millionaires among SpaceX employees. The newly wealthy will include everyone from engineers to cafeteria workers, who hold stock options as part of their compensation.

In Brownsville, TX, near SpaceX headquarters, real estate agents are preparing for a gold rush. The median list price is now $290,000. That's expected to change in the near future.

BUYER BEWARE OF BOGUS SELLERS

Nearly three out of every 10 title insurance companies surveyedby the American Land Title Association (ALTA) has experienced at least one seller impersonation fraud attempt.

The main target is vacant land, which makes sense from a scam standpoint since the owner wouldn't be there to notice anyone showing the property. ALTA says about 16% of the title insurance companies in the survey reported paying out claims for fraud.

WALT'S BEST MILLION DOLLAR OPPORTUNITY

Let's stay a whisker under a million and check out 680 Fletcher Road in North Kingstown. There's 2,500 square feet here on almost 2 acres. This is a classic colonial in a great spot.

There are 95 listings to choose from in the $980,000 and $1.2 million range. 4 closed and 20 went under contract during the week.

WALT'S BEST MEDIAN PRICED HOME

I truly like 584 Hartford Pike in Scituate--listed for $525,000. You get 1,600 square feet here, with 3 bedrooms and 2 bathrooms. I buried the lead. It's on an acre and a half of land.

There are 103 condos and single families in the median, $480,000 to $530,000 range. During the week, 22 closed and 36 went under contract. There are 30 fresh listings in the bunch.

SPOTLIGHT ON THE CUMBERLAND

Cumberland has a fantastic combination of features with a blend of small-town charm, excellent schools and easy access to both Providence and Boston. Homebuyers love the scenic neighborhoods, parks, the Blackstone River Bikeway and family-friendly atmosphere.

There's also a great mix of historic villages, newer subdivisions and luxury homes. That gives Cumberland real estate a variety of housing options that appeal to first-time buyers and growing families. That's why demand is strong here.

For buyers seeking space, value, and long-term investment potential, Cumberland remains one of Rhode Island's most attractive places to call home.

There are 60 active properties in the community. Top shelf is a $2 million colonial on Diamond Hill Road. At the other end of the range is a $55,000 piece of land on Cedar.

Now, more numbers. There are 35 single families and 7 condos to choose from. The median price comes in at $530,000--down slightly from last year.

The median Days on Market (DOM) is up but still only 23! That's a mere 4 days higher than the end of 2026.

So far this year, we've covered Cumberland, Lincoln, Cranston, Newport, Middletown, Portsmouth, Tiverton, East Greenwich, Narragansett, Coventry, North Kingstown, South Kingstown, Warwick, Cranston, Providence, Pawtucket, Barrington, Bristol, Warren, East Providence and Providence.

QUIZ TIME

Now, the quiz. We ask again, What New England location claims to be the home of the lollipop?

Answer correctly, and pick a charity for the prize money.

Thank you for reading the 58th edition of Walt's Real Estate Window. Text me at 401-339-0090 if you're ready to buy or sell and as always your comments and questions are welcome. Have a marvellous week!