WALT'S REAL ESTATE WINDOW - EDITION 60

Here's some wisdom about taking a chance on a real estate investment. Author and money expert H.J. Chammas says, "You will become at least as rich as the amount of good debt you take in your life."

Borrowing to buy property is absolutely good debt. So, let's get started.

CLOSING KING

35 Battery Lane on Jamestown is crowned this week. The nearly new 4,100 square foot home with a built-in pool sold for just under $4 million.

An Echo Lake cottage is The Duke, selling for $130,000. It's a fixer upper for sure but it's across from the water. I saw this one and can verify it's a good deal.

252 properties closed and the total actives is holding steady at just over 2,100. There are 1,230 single families and 357 active condos.

NEW RECORD HIGH FOR HOME VALUE

The value of owner-occupied homes hit a new record high, increasing $810 billion from the previous quarter to $48.7 trillion. That's a new record and listen to this. Real Estate value has more than doubled since mid-2016.

Mortgage debt also reached a new high of $13.8 trillion. The annual growth was slightly faster than what was typical from 17 to 19.

REAL DISCUSSION ON AI'S IMPACT

Artificial Intelligence is having an actual impact on real estate and the pundits are discussing how to balance innovation with responsible usage. The 2026 REALTORS® Legislative Meetings brought industry leaders, technology experts and policymakers together for a forum

AI is being tabbed to streamline administrative tasks, enhance marketing, analyze data and improve customer service. Panelists also pointed out the rapid pace of growth should be watched and debated to effectively govern the systems we use.

WALT'S BEST MILLION DOLLAR OPPORTUNITY

I'm a big fan of 136 Rome Court in Cranston that's offered for a whisker under $1 million.

This one has nearly 2,300 square feet and rests nicely on nearly 7 acres in Apple Hill Estates.

There are 92 condo and single family listings between $980,000 and $1.2 million. Only 1 closed during the week, while 23 went under contract. There are 22 new listings.

WALT'S BEST MEDIAN PRICED HOME

I like 15 Stellar Way, a wonderful ranch in a 55+ community in South Kingstown. This is the perfect downsize for our boomers.

1,700 square feet with 3 bedrooms and 2 bathrooms, listed for $480,000.

There are 111 condos and single families in the median range of $480,000 to $530,000. 33 are new to the market, and during the week, 23 went under contract.

SPOTLIGHT ON JOHNSTON

Johnston is one of our most convenient communities, with just about everything you need in the town. While there are several checkerboard-type neighborhoods here, there's also an abundance of green space. Snake Den State Park, Johnston Memorial Park and miles of scenic trails come to mind.

The real estate market has an array of classic neighborhoods and newer developments, plus condos and luxury homes on larger lots. So, you have options in both price and style of life. With quality schools, convenient shopping, local restaurants, and a welcoming small-town atmosphere that's just minutes from downtown Providence, Johnston continues to attract buyers.

There are 62 actives here. The most expensive is a nearly $7 million piece of land on Plainfield Pike. A $1.3 million dollar home on Woodlake is the highest priced active. 42 of the listings are single families and there are 6 condos.

The medians? Single family price is an even $500,000. That's up by a thousand bucks compared to last year.

The median Days on Market (DOM) is now 27, only slightly longer to sell compared to last year.

So far this year, we've covered Johnston, 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

William "Billy" Thornton texted me to state unequivically that New Haven is the home of the Lollipop. Here's ther rest of the story. Around 1908, George Smith of Connecticut decided to put molten candy on sticks. Smith claimed he named the treat after his favorite race horse, Lolly Pop.

Billy asked us to donate the prize money to The Ronald McDonald House.

This week we ask, what New England city is home to the house with walls that are made out of newspapers?

Answer and I'll send some green paper to your favorite charity.

Thank you for reading the 59th 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 amazing week!