Rhode Island Real Estate Experiences a Surge in the Volume of Homes Sold

Share Article

The home-buyer tax credit has recently been extended to September 30, 2010, giving buyers of Rhode Island waterfront properties more opportunities to make smart real estate investments, report the experts at Waterfront Properties and Country Homes.

The extension is also good news for the housing market,” says McGill. "The Home Buyer Tax Credit attracted close to a million home buyers, nationwide, which contributed to increased homes sales and overall buyer/seller confidence

Congress has recently passed bill H.R. 5623, which effectively extends the home buyer tax credit to September 30, 2010, providing potential and existing home buyers increased incentive for purchasing real estate. This extension, providing $8,000 tax credit for first-time home buyers and a $6,500 tax credit for repeat buyers, presents a great opportunity for buyers looking for Washington County, RI waterfront homes. Particularly those who had ratified contracts in place since April 30, but were unable to close when the previous June 30 deadline expired, explains Steve McGill, Owner/Broker of Waterfront Properties and Country Homes, a leading brokerage firm in the Washington County area.

“The extension is also good news for the housing market,” says McGill. "The Home Buyer Tax Credit attracted close to a million home buyers, nationwide, which contributed to increased homes sales and overall buyer/seller confidence," says McGill.

In fact, according to the Pending Home Sales Index released by the National Association of REALTORS®, sales rose for the consecutive months of February to April 2010, reflecting favorable response to the tax credit as well as housing affordability conditions, which were the highest sales levels since October of 2009.

"We had concerns with the previous deadline of June 30, as some home buyers struggled to close their deals as the date approached," McGill adds "With the new extension of the home buyer tax credit until September 2010, there’s never been a better time to peruse the real estate market and invest, specifically in valued properties like Rhode Island waterfront homes for sale," he says.

With its picturesque charm and quaint small town appeal, Washington County in Rhode Island continues to attract home buyers who want to experience the irresistible combination of laid back country living and numerous recreational opportunities. Surrounded by the region's natural beauty, including verdant woodlands and pristine, sandy beaches overlooking the Atlantic Coast, Rhode Island waterfront properties are ideal for everyone from families to retirees.

Waterfront Properties & Country Homes has been a leader in beachfront and summer home sales and rentals in Washington County for over 30 years, serving the towns of Charlestown, Narragansett, Hopkinton, Westerly, Richmond, North Kingstown, South Kingstown, and nearby areas. For more information on Washington County RI waterfront homes and other choice properties in the region, contact Steve McGill and his expert team at Waterfront Properties & Country Homes now, or visit their website at Waterfrontpropertiesri.com.

# # #

Share article on social media or email:

View article via:

Pdf Print