Pockets of Recovery

Every time we pick up the paper or turn on the news we are bombarded constantly with updates on increased foreclsores, declining sales, layoffs and tight credit. However, on page 3 of the Business Section of the local paper I saw a sign of recovery. It went unnoticed by the author of the article and probably by many who read it. It was like that wayward Robin I noticed in the yard on a wintery day in February. One of those days when Spring seems so far away and yet, if you look hard, you can find the clues that maybe, just maybe, something good is not that far around the corner.

The average price of a home in Narragansett for the month of November 2008 was 20% higher than the average price of a home in November 2007 while total units were only down by 3. I asked myself how could this happen in the middle of a meltdown when everyone was screaming that the sky was falling and the world was ending? I thought that no one had any money or a job and that banks weren't lending and everyone was going bankrupt! Where did this come from?

There is no doubt that there are areas that have been and will continue to suffer in this real estate fueled slump. However, many of the issues that drove these problems are not present in many of our coastal resort markets. We have not been overrun with foreclsoures, inventory is relatively stable, there was a relatively small amount of speculation and development in this area over this past decade. This region also has a tremendous amount of desirability, beautiful coastal beaches, interesting historic Towns, architecture and access. Those people out there who still have money, and there must be a few still out there, are focusing their interests in areas they know will continue to outshine the rest of the pack. So, before you throw in the towel on this wintry day, remember, I spotted a Robin!

The contrarian

I have been in the real estate business for almost 20 years. I first got started in the early 90's when the economy was extremely difficult and it could take years to sell a house or more! At that time in the State of RI all accounts in the credit unions were frozen and people could not get access to their funds, period. Nothing happened in this state for almost 2 years. Although the current situation is certainly not positive we can at least get what ever money we have when we want it. Additionally, mortage rates are still very attractive, 30 year fixed rate mortgages are under 6%. That is incredible. I know it is hard to believe but there are still mortgage companies and financial instiutions out there that want to loan money!

We also have sellers who are very realisitic for the first time in over a decade. Realistic doesn't necesarily mean that it is given away but it is priced where it should be and is a good value. We also still have some people who have money. I know we never hear anything but panic but I tried to get a hotel at Disney World for a small vacation in the Spring and they are all booked solid! If things are so bad where are these people coming from and how do they make any money seeing that we are all on the verge of financial ruin, or that is what the media would like us to believe!

One of my biggest harbringers of a turn around is that every media outlet, loud talk show host on the varous cable financial stations and morning show host is telling us not to buy real estate. When the Today show tells you not to buy that is the best signal ever to start looking. When they tell you it is time to buy it is too late and the market has already moved significantly and you are overpaying, why, because the savy buyer was out when everyone else was told to run away and started the momentum! It is time to stop listening to all the so called experts and take it for what it is, there is value out there now and it is a great time, if your finances permit, to look for the dream house!

Labor Day

You may remember my post from early August lamenting the transtion from July to August. That is like your 40th birthday while August to September is a little closer to the 60th. The crickets and cicadas are now in full swing and sweatshirts are now a necessity in the evening and mornings as that Fall chill creeps into the air. I looked at the weather forecast through Labor Day and it looks great but one thing stood out to me, all have highs in the 70's. Where have my 80's gone? The kids are really starting to sweat with many schools starting this week. Although the weather in September can be glorious and the crowds have all gone home there is a considerable difference between that glorious September day and a beauty in July. That drive to go to the beach is less, the projects that have been put off all summer are calling to you, the kids have transitioned into Fall sports and are now focused on practices, school work and the realitites of life. So as we head into this Labor Day weekend make an extra effort to put off all of those things that have been hanging over your head the entire summer and go out enjoy those glorious summer days as they should be one last time. We have all winter to catch up. Have a Happy Labor Day!

Block Island

One of my favorite places to visit during the summer is Block Island. To my amazement, there are people living in the State of RI that have never taken the 12 mile ride from Pt. Judith out to the Bermuda of the North! I take a vacation with my family there for a week every summer and my children start talking about our next visit as soon as we get off the ferry at the end of our stay. Many people think I am crazy taking a vacation to an Island that is about 18 miles from my house. However, those of you who have visited the Island know that it is so close yet so far from the mainland. The distance is purely psychological! Once you board the ferry the worries of home are left far behind. When you see the streescape of the Victorian Water Street appearing in the distance it is like returning to a familiarity that never seems to change. The wonderful beach with no beach passes required or fees to pay! The rolling terrain for that marvelous bike ride. Although there are mopeds available I have never and will never ride a moped or step foot in a cab. It is all about the bike, that is part of the fun.

One ofthe most beautiful strecthes in the Northeast is the bluffs that run along the southern end of the Island. At the Mohegan bluffs you can climb down a staircase of about 200 stairs to get to a beautiful and wild beach below. I could go on and on about this special place but for those of you who have not yet been to the BI get on a ferry and get over there before the end of this summer. You will not regret it!

10 things to do in Narragansett this summer!

As in my previous blog I lamented about the transition from July to August I thought it might be a good time to highlight some of the things that must be done prior to the end of the summer. I am going to focus on Narragansett although one of these lists can be made for many of our Towns and I challenge my fellow bloggers to follow up with such a list or add their favorites to my list. My list tends to have an adult slant to it but I am more than happy to hear about family favorites too! They will not be in any particular order but here they are!

1) Spend a day at chair 1 at Narragansett Town Beach.

2) Go to Galilee and take a ferry to Block Island for the day.

3) Pull a small boat up to the mouth of Narrow River at the North end of Narragansett Beach and spend the entire day there.

4) Lunch or dinner at Aunt Carrie's

5) Have at least 1 lobster roll at Twin Willow's

6) Have a cocktail on the Deck at Amalfi on a Sunday afternoon with the diverse and interesting beach crowd.

7) Have a barn fire at Sand Hill Cove beach.

8) Ride a bike to the Pt Judith Lighthouse and have a picnic there.

9) Go dancing at the Towers on a Thursday night.

10) Look for crabs under the rocks at low tide at the South end of Narragansett Town Beach.

I have probably missed all kinds of things and I would love to hear the thoughts of our readers. However, I am going to make sure that I scratch each item off of my list before the end of the summer and I hope to add some new ones too!

Endless Summer

It has been hard for me to shake that old school calender even though I have been in professional life for over 20 years. There is something about that anticipation in May and June of those long summer days that never seem to end. I often feel like one of my kids on the cusp of summer vacation. I want to jump for joy on the last day of school and let the warm summer months roll over me. My mind drifts while I am in the office of days on the beach, riding a ferry to a special place or just reading a book on a quiet afternoon. July has always been my favorite of the summer months as it is the adolescence of the summer season. It is bold, it is full of zest and the end of summer is miles away. That transition to August is always a bit of a speed bump for me. It is that first sign that summer is not forever. It is like this stranger creeping up behind you! Are the days getting shorter or is that just my imagination? I start to feel the pressure of my children's summer reading programs and I begin to focus in on all those fun summer things I haven't been able to fit in. I shake my head as thoughts of Fall projects creep into my head. I am fighting off all of those thoughts and will let that logical part of my brain take over to remind me that August is a fabulous month and we still have a great stretch of this Endless Summer ahead of us. Just keep repeating that to yourself!

A South County State of Mind

A funny thing happens to you when you move to South County, Rhode Island. It doesn't happen overnight. You can't see it coming, but it invariably strikes almost all residents of this idyllic portion of our state. Once we get here we have a hard time leaving. When I say leave I don't refer to moving away, this is purely about leaving South County for any reason at any time. I grew up in Providence and hear about all the great things that have been happening there with the renaissance of the City, etc. However, when push comes to shove, I am not interested in getting in my car and driving past the "Hannah Robinson Tower". The "Tower", which is located at the intersection of Route 138 and Route 1 has always served as the unofficial line which separates South County from the rest of the world. Everyone says that once they pass the "Tower" they can feel the cool ocean breezes. The "Tower" was originally constructed in 1938 and has glorious views from the top of Old Tower Hill but has always been tied to the sad story of Hannah Robinson due to its proximity to the old Robinson Farm.

We in South County find it hard to pass that "Tower" at any time. I find myself making a list of items to buy at the larger big box stores of Warwick and other places and making the 20 to 25 minute trip about 3 times per year and hating it every time I do it. Although there is great dining North of the "Tower" I am still very happy enjoying the great dining here in South County and when I feel I need something different I will go East to Newport as to avoid going North of the "Tower". For those of you who live elsewhere this all sounds crazy but my fellow Quahogs out there know what I am talking about. Come and spend some time, you will see what I mean!

Our special places

When we live in areas like Newport, Jamestown, Watch Hill or Narragansett it is very easy to forget some of the very unique things that drive thousands of visitors to visit our community. We can get stuck in our ruts of going to the same places and avoiding those spots that we think will swell with visitors when the tourist season arrives.

After a sun drenched weekend with my family my wife and I were thinking of taking a break from cooking and taking the family out to eat. I wanted to go to a place where you put on a lobster bib, clean up with a wet nap and enjoy the sites and sounds of a coastal landmark. One such place is Aunt Carries Restaurant in Point Judith. We arrived at 6:30 and the weather had cooled slightly so we were able to secure a table with only a few minutes wait. I then proceded to enjoy a great cup of chowder, the best clam cakes I have had in ages and some succulent lobster. I hadn't had clam cakes in years and I have to tell you that they were excellent. This eating establishment is only 10 minutes from my house but I haven't been there in years and I have no idea why. For all of us who live in these great coastal communities with a rich tradition and legacy we must always remember to stop for a moment and visit some of those fantastic spots that make our area so interesting!