Newsletter Date: August 23
Meeting Date: August 17
Reporter: Holly Applegate
INSPIRATION by Marco Marinelli
Let’s start doing: If it is true that thinking is important, it is even true that thinking has to fulfill a real purpose. Thinking and doing have to be interdependent.
ANNOUNCEMENTS, Etc.
This Thursday, August 27 at 5 pm is an Alternate Hour club meeting on Zoom. John McGinn will be showing a video tour of the Convention Center’s temporary converted 600 bed, standby hospital
. And Christy Clausen will have an update on the distribution of Literacy kits to Providence kids, paid for by our Summer Fun(d) and the club foundation.
The registration deadline for our first in-person meeting has been extended to Tuesday, August 25. The meeting will be held outdoors at Swan Point Cemetery on Blackstone Blvd. in Providence next Monday, August 31, starting at 11:45 AM.
Click HERE to pay online.
HAPPY BUCKS
Jim Gilcreast gave a Happy Buck because he is happy.
Don Saracen gave a Happy Buck to his daughter in law, Paula Saracen who lives in San Diego has a new job reviewing Covid-19 medical cases.
Walter Adamowicz gave 5 Happy Bucks for the successful operation done on his son in law.
Former club member Jean Patiky gave 20 Happy Bucks for coming to the meeting.
Holly Applegate gave 21 Happy Bucks for a wonderful three weeks in Little Compton.
Pres. Bryan gave 5 Happy Bucks for the recent wedding of his oldest nephew, Cody and his new wife, Brittany.
Liz Messier gave a Happy Buck to welcome Sally Lapides to our meeting as a speaker.
Karen Mueller gave Happy Bucks for two friends, one who had a successful knee replacement and the other a mastectomy.
BUYING AND SELLING HOMES
IN A PANDEMIC
Sally Lapides, president and CEO of Residential Properties, RI’s largest and most successful real estate company, reported on the state of the real estate business in Covid-19 since we went into lockdown on March 17th.
- The overall sales prices for single family homes have increased 20% attributed to an all-time lack of inventory of homes on the market.
- Luxury market has increased 2%.
- The condo market has had a 20% drop.
- The multi-family market has had an all-time high.
- The timing of the spring market shifted from April and May to August.
- The biggest challenge for buyers is the frenzy and competition created with multiple offers.
Buyers are coming here from large cities, such as New York, Boston, Chicago, San Francisco, seeking a vibrant, academic community like Providence. Contractors are very busy creating home offices in existing and new homes. There are also buyers who are flocking to the suburbs like South County, Narragansett, Northern RI to have more space inside and out for their families especially if we are forced to go back into lockdown.
Covid-19 has changed the way realtors sell homes. Marketing has shifted to on-line with virtual showings, video and Facebook tours.
Commercial real estate has been hit hard with companies not renewing their leases.
