Habitate for Humanity Fundraiser this Fri.

To kick off the Habitat for Humanity, East Bay RI Chapter upcoming build, we will be hosting our inaugural fundraising event June 19th at the Rotunda Ballroom on Easton’s beach in Newport.

Ticket price will include appetizers and cocktails (yes, open bar!) as well as entertainment and a silent auction.
The carousel will be open for rides and we will have a presentation detailing the upcoming build.

Tickets are $75.00 per person and are tax deductible.
Please join us in to celebrate and help out our neighbors in need!

There are a limited number of tickets available so don't wait to book your reservation.

You can make the check out to Habitat for Humanity of RI of East Bay, Inc and mail or give to me or purchase through the info below.

Please call or email me with any questions at 401-527-3264 or Danielle.braun@veritude.com

Ya Got Trouble at Bay Ridge, Middletown

I've blogged a number of times on the troubled real estate market here. We've got troubles- right here in River City. Ooops, wrong town, wrong area, wrong era; but who could resist?

I had dropped my link for the blog "Bay Ridge at Forest Ave." awhile ago as it seemed dead. Silly me. But with the condo developer now pressing for a change in residency rules, the blog has taken on a new life & even been quoted in the NDN.

My opinion? That's one baby going down. They never had much chance when they started- too late. The original owner (Franklin Simon Co.- developers out of Braintree) helped form "Bay Ridge Development" with Oldport Homes- Eric Johnson out of Portsmouth. This was financed by Brookline Bank of Brookline, MA and Bank Newport of Newport, RI. (source). So how solid is this bank? They say VERY, but profits say otherwise. BankNewport's profits are also down. The question is, how long will they wait before pulling the plug? Banks like to be repaid AND make profits.

The primary question is how firm is the current financial backing? I'm guessing not very in the current banking world. Going the senior development route never made much sense, but Simon's did get someone else to do it, didn't they? Ah, the blessing & curse of living in "interesting times."

Check out the website for updates. And remember, if they're in trouble, we'll all feel the pain. Think tax proceeds for one example.

Here is Matt Sheley's NDN article. Gee, sometimes we bloggers are downright useful, aren't we?

How Low Will Houses Go?

Housing prices just keep on a-dropping. "Home Prices Post 18% Annual Drop" screams the headlines. Housing starts at a stand-still. But not to worry, your taxes will stay the same. Nothing from the local rag-of-record. They don't like local bad news- not good for business, I guess.


Realtors are closing offices, foreclosures rates jumping, and for-sale, for-rent signs are everywhere. While mortgage rates may be a-dropping, those qualifying regs are tight. Local builders are closing up shop with lay-off's. Not good.

As my husband says, until you hear those hammers tap-tapping again--- dead economy. And it's spreading. Expect even worse with the new year.