Warwick, Rhode Island Boasts Waterfront, Transportation

Written by Posted On Tuesday, 29 March 2005 16:00

Realtors in Warwick, Rhode Island, say the city's easy access to transportation and its beautiful waterfront make it an ideal place to relocate.

"Warwick is one of the largest cities in Rhode Island," says Realtor Janice M. Hay . "It is the home of TF Greene airport, beautiful Goddard Park located on the bay, Potowomut Golf Club, and Warwick Country Club, which is delightfully set on the water. It is known for its shopping district, which includes two major shopping malls and Route 2, which is loaded with strip malls. Warwick also has its own ice skating rink, city park, indoor swimming pool, movie theaters and more. What a great place to live!"

Says Realtor Ron Phipps , "Warwick is a suburban community of approximately 87,000 people with great waterfront, and it's a transportation hub."

Phipps explains, "The market in Warwick remains strong, although inventory has increased, which in turn has presented buyers with many more choices. In 2004, 1313 single-family houses were sold. About 120 properties are pending, and 301 properties are on the market. Warwick has enjoyed tremendous appreciation over the past several years, but it is still among the best values in the Ocean State at all price ranges, and in both single family and condominium markets. The average price is lower than the state average of $262,000. Salt waterfront is among the best values in the State. Condominium sales have really developed over the last six months."

"Last year was the most active in Rhode Island's history for single-family home resales," says Realtor Marino DeLaCruz . "Existing single-family home sales increased 8.6 percent ahead of 2003's sales tally of 9,189. For the sixth year in a row, annual Rhode Island single-family home resales exceeded 9,000 units. In 2004, eight of the twelve months (February - May, July, Sept, Oct. and November) were the most active for their respective months in the history of the Rhode Island Association of Realtors. Nevertheless, experts insist that the strengthening economy, demand from baby boomers and now their children, as well as immigrants will continue to fuel the housing market in the months and years to come. Mortgage interest rates on 30-year fixed-rate loans, according to U.S. mortgage firm Freddie Mac, have averaged about the same amount during the past two years (5.8 percent), Aside from 2003 and 2004, we would have to go all the way back to 1965 to find mortgage interest rates as low as they were last year."

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