Depending on what you consider modest? Most of the properties in Barrington are on 1/4 to 1/3 of an acre lots. You can find properties on large parcels of land as you are looking for, but those properties are upwards of 1 million. To find larger parcels you would have to go to Rehoboth, MA, Seekonk, MA , Tiverton, RI or Portsmouth, RI. I would be happy to show you properties in any of these areas.... more
Hi there, Values in Barrington, in general, actually slightly rebounded in 2009/2010, but then steadily declined... depending on your area, with a total decline averaging around 30-35% from 2006. But to answer your question, the evaluation performed as part of the Town of Barrington RI tax assessing process was done with a completely different formula than that of a true appraisal. That being said, some of the tax assessment values are actually presently inline with fair market values, BUT others are wayyy off! so try to ignore them:-)
I think the question remains, what is the appraised value on your 2 bed waterfront property? Depending on your waterway, the size, and the condition of the property, there can be quite a fluctuation. A cottage needing any structural or serios cosmetic attention will appraise in the lower end, almost simply as land value. Yet, an improved sizable two bedroom on the bay or western view in Alfred Drown or by the beach will appraise anywhere fro $600,000 to $700,000, if the improvements and square footage can be supported.
I understand that it is hard to ignore the highly automated process of Barrington, RI assessments for tax purposes, but in truth, you need to be careful about using these tax assessments to determine selling price or your competition.
As I mentioned, the prices, in general, have declined since December of 2010, both in listing and selling prices. But, as your assessment was not developed for a fair market purposes - Expect:
1. that it will remain in place for as few years as Barrington town officials and the tax collector can bare ( once they expect a market up turn, whether actual or not, there will be a re-assessment, it is the only way towns can recover from lower valuations)
2.that it is was determined simply for a more fair tax payment that reflects the delined market conditions in general, and
3. That it helps and will continue to be a means for the town of Barrington balance the budget.
I hope this helps. If you have any questions or are hoping to become market ready, I can help you decide what to do and when to enter the market...whether it be this year or even years from now. Good Luck! Julie Chalue, SRES New England Properties of Barrington... more
It would be totally dependent on your level of coverage and whether you are insuring contents or just the building. If you would like I can put you in touch with an agent who is an expert in this area and would be more than happy to put your information to market and get you some quotes.
Good luck and Happy Hunting,
Danielle, I am not a mortgage lender or broker, but a safe debt to income
ratio is 28-32 %. So if you have $200 a month in debt and you make
$2000 a month, your debt to income ratio is 10% (200/2000). This leaves
you 22% per month ($440) for a mortgage. If you make $2000/month
w/no debt, you can safely estimate you would be approved for a
$640/month mortgage. Some ratios may differ depending on the lender and
your situation. I would be glad to help you find a property and introduce
you to a lender that can pre approve you. Joe... more
If you can let me know what the property address is on those house you are interested in, I'd be happy to get that infomation for you. Were you just looking for all houses listed in Barrington?... more