"The Daily Voicemail Hack: Elevate Your Professional Game"

In the fast-paced world of real estate, every call could be a game-changer. Commission-based professionals often find themselves tethered to their phones, living in fear of missing that one pivotal call. But what if I told you there's a way to reclaim your freedom, stand out from the crowd, and still come off as the top-notch professional you are? Enter: The Daily Voicemail Hack.

????**Why Update Your Voicemail Daily?**????

1. Stand Out from the Crowd

Every time you miss a call and the caller hears your updated voicemail, they immediately recognize your dedication and commitment. It's a clear indicator that you're on top of your game and are meticulous in your approach - a trait every client appreciates, especially in the real estate world.

2.…

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Rising Tide of Red Signs: Navigating Commercial Real Estate's Rough Waters

Alarm bells are ringing nationwide due to concerns about commercial loan defaults. Unlike residential loans, commercial loans typically operate on a non-recourse basis, allowing borrowers to simply return the keys to the bank if they can't meet their obligations. These loans usually reset every 3-5 years, and many that originated around 2018 are approaching this critical period. The prevailing concern is that numerous commercial properties won't produce sufficient cash flow, leading to a wave of defaults and property surrenders.

Thanks to data from my former company, CoStar Group, I am well-positioned to monitor the situation. Across the country, there are 1,661 properties that are either in default, bank-owned, or undergoing the foreclosure…

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How Climate Change is Reshaping Insurance and the Housing Market

The growing ferocity and frequency of extreme weather events, tied intrinsically to the rapidly changing climate, have sent shockwaves through sectors that once thrived on predictability and historical data – notably, the insurance and housing markets. Jacob Bogage’s recent Washington Post article encapsulates the urgency and gravity of the situation, focusing on how major insurers are pulling away from covering the very natural disasters that are increasing in frequency.

Insurance companies, at their core, are in the business of evaluating and pricing risk. Historically, they've spread these risks across various geographies and disaster types, ensuring that catastrophic payouts in one region are balanced by calmer conditions elsewhere. However, as…

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2023 CT Town Appreciation/Depreciation Report

The housing market in Connecticut has seen significant changes in the past several years, much like other states throughout the nation. But what in particular has been happening with Connecticut housing prices? Where is it going up and where is it going down? Understanding the drivers behind these shifts is critical for sellers and buyers alike. Factors such as median household income, local economic health, lending practices, and back-end ratios also play significant roles in the housing market's volatility.

The median household income is a key factor to consider when examining Connecticut's housing market. The median household income in a town can greatly impact the typical home value. High-income towns like Darien, Greenwich, and Westport…

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A Father-Son Voyage Creating Media for Vanquish Boats

We at Seaport frequently receive requests to assist in producing videos for neighboring enterprises. We take great pleasure in lending our support however we can. In the attached video, you'll see how my son Christian and I collaborated with Colony Video to generate media content for Vanquish Boats, a company based in New Port, Rhode Island. Not only was this a fantastic opportunity to strengthen our father-son bond, but it was also an incredibly fun experience.

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New London County Market Report

Think creatively and look for opportunities - State of the market for new buyers in New London County

It is no secret that the housing market is in a tough situation right now. The problem is that the majority of Americans, no matter where they live, cannot afford to buy a home in the cities or towns in which they work. Why is that the truth? Looking back on the market, the selling price, along with the price per square foot, were at all-time highs just before the financial crisis in 2008. 

These all-time highs eventually dropped to all-time lows around 2015, before they started to slowly climb back up. Then, we had a global pandemic that decided to take a slow climb and accelerate at an exponential pace, and the slope of median selling…

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Harmony of Luxury and Wilderness: The Ultimate Riverside Estate Experience

Crafted by an acclaimed housewright using the highest quality materials and bespoke finishes throughout, this remarkable estate is tucked away amidst the pristine wilderness that borders the tranquil Lieutenant River. It offers an unparalleled level of privacy and tranquility, with a rich tapestry of birdlife. The meticulously maintained grounds comprise formal gardens enveloped by woodlands, with no other signs of human habitation in sight – save for the occasional kayaker drifting by.

While this estate provides a haven for wildlife enthusiasts, its location is also convenient, being a mere seven-minute drive to grocery stores and I95 Exit 70, making it the perfect choice for commuters or city residents seeking the security of a second home. The…

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Unveiling Real Estate Appreciation Trends in New London County Over 24 Years

Investing in real estate is a significant decision, and understanding how property values have appreciated over time is crucial for both buyers and sellers. In this blog, we delve into 24 years of data from various towns in New London County, revealing average sales, typical home sizes, sales prices, and yearly appreciation rates. Join us on this insightful journey as we explore the real estate landscape of New London County.

1. Analyzing Appreciation Rates: Appreciation rates are a key indicator of a town's growth and desirability. Let's explore some noteworthy findings.

• Stonington: With a staggering 9.89% average yearly appreciation rate, Stonington has been a lucrative market for homeowners and investors alike. Its charm and natural beauty…

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2023 RI Commercial Mill Rates

How to Evaluate Commercial Property

Tax rates, even within a state, are not universal! In Rhode Island, commercial mill rates or tax rates are different compared to the residential rates in some towns, but the same in others. The average residential property tax for the 39 municipalities in Rhode Island is 15.65 for residential property, but 19.60 for commercial property, but only 21 of the municipalities have a higher rate! Why is there this discrepancy? What do some towns provide that makes the mill rate different? 

A higher commercial tax rate often reflects the higher level of services available within the area. But this might also reflect the degree of reliance on property tax within the municipality. Tax rates are higher within areas…

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2023 RI BASE MILL RATES & MUNICIPAL DISTRICT RATES

How to Determine the Relative Cost of Similarly Priced Properties.

When you start your home search, understand your purchase power. Although “location, location, location” is a common phrase in real estate, location also impacts the relative value of similarly priced properties in different towns.

Real estate taxes vary drastically by town in the state of Rhode Island. Unlike Connecticut which utilizes 70% of a home’s value, Rhode Island takes 100% of your home’s assessed taxable value when calculating property taxes. These property taxes are calculated using the assessed taxable value of the home and a mill rate. A mill rate (tax rate), in other words, is the amount of tax payable per dollar of the assessed value of a property.

For…

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