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The Stephen Thibodeau Group's Blog

By Stephen Thibodeau


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New Condo/Single Family Project is Underway in Smithfield RI

by By Stephen Thibodeau



            Ridge Properties LLC has announced today that they have begun the 1st phase of Dean Pines Condominiums, a 34 unit condominium development located on Dillon Lane, off Ridge Road, in the Dean Estates Subdivision in Smithfield RI.  Dean Pines Condominiums will consist of 34 units.  This development is located in quiet, wooded surroundings that will afford maximum privacy in a community setting.

            Fifteen of the units will be lower cost units for qualified buyers.

Dean Pines will incorporate many features to provide a comfortable environment that is both aesthetically pleasing and energy efficient.  Each home is designed with both the homebuyers and the environment in mind.  Energy efficient materials and features like ENERGY STAR® appliances, LoE windows, Low VOC paint and more, resulting in lower energy consumption and lower costs for homeowners.

The development will incorporate

            - green building

            - less wood / more insulation

            - underground utilities

            - municipal water and sewer

            - bottled gas

            - lighted streets          

Supervisor of construction  will be John Thibodeau.   John has over 40 years of building experience and is committed to achieving high standards of construction excellence and homeowner satisfaction.

The Stephen Thibodeau Group of Keller Williams, with substantial experience in northern Rhode Island,  will be marketing  the project.  Stephen and his Team can be reached at or 401-965-2060.


            Ridge property is also constructing  single-family homes in the Dean Estates Subdivision. Go to, or call Stephen for more information.  The subdivision is on well its way to achieving its full potential as a peaceful, safe, and friendly area to live and to raise families in, and a positive experience for resident’s real estate investments.

Conventional loans are on the Comeback!

by Stephen Thibodeau

A small sign that the real estate market is headed in the right direction is
the fact that banks are relaxing their loan standards a bit.  Conventional mortgages are making a comback because for the first time in years they are only requiring a 5% down payment.  Before this, a buyers only option was a conventional mortgage with a downpayment minimum of 10% or the Government backed FHA program that required only 3.50%.  But recent changes in Private Mortgage Insurance (PMI) have made FHA less attractive as it once was.  The one time upfront PMI fee was reduced to 1.0%...BUT... the ongoing PMI fee has been raised to 1.15% on an annual basis!  This really increases the monthly payment for a borrower and reduces their purchasing power.

  A few other things to consider with FHA....You can't get rid of the monthly
PMI for a minimum of 5 years and you must have 12 on-time payments prior to
attempting to do so.  You also need to have 22% equity in the property in order to remove the PMI.  When the property is appraised...that appraisal stays with
the property for 6 months.  That means all FHA buyers attempting to purchase
that home within 6 months of the appraisal must adhere to the value allocate and any/all property deficiencies noted in the report.

  So weigh your options and I'd be happy to give you a referral to a great loan
originator...because a conventional loan might end up providing you with a lower payment even though the rate might be a bit higher.  If you are a buyer with a small downpayment, decent credit and decent now have more options....which is a good thing!  Happy Summer!

Should I Buy a Home Now?

by The Stephen Thibodeau Group

Should I Buy a Home Now?

I’m often asked if this is a good time to buy a home.  Some clients are concerned that home prices may fall further than they have already.  They are assuming that the best course of action is to wait for the bottom in the market and then buy.  The problem with this approach is that you don’t know where the bottom is until you see it in the rear view mirror, meaning until you’ve missed it!

Home prices are one factor in determining your cost of ownership, but so are interest rates and financing availability.  Even though interest rates have gone up in the last six months, they are still near historic lows.  Since your monthly mortgage payment is a combination of paying down your principal and paying the interest owed, if home prices come down a little further but interest rates go up, it could cost you even more to service a mortgage on an identical home!

While a home is a major investment, it is also the center of your personal life.  It’s important to live in a home that reflects your taste and values, yet is within your financial “comfort zone.”  To that end, it may be more important to lock in today’s relatively low interest rates and low home prices, rather than to hope for a further break in prices in the future.

Please give me a call if I can be of any assistance in determining how much home you can afford in today’s market.

Displaying blog entries 1-3 of 3




Contact Information

Photo of The Stephen Thibodeau Group Real Estate
The Stephen Thibodeau Group
Keller Williams Leading Edge
144 Wayland Avenue
Providence RI 02906
Fax: 401-334-2500