Spring!?

Well, it's 28 degrees out right now, and that seems balmy compared to the past couple of weeks! Even though the calendar says Jan 29th, it is indeed marching towards spring in the world of Real Estate. We generally are working 30-60 days into the future- typical timing for a closing on a new property. In the past week I personally have seen a rise in activity with regards to families thinking about buying and selling. This view is backed by what my colleagues have been experiencing as well. This is a good sign that there will be increased demand for homes in our area. Local inventory levels are declining as well- a good thing in our quest for a "balanced" market. For those considering a move when the weather turns a bit nicer this is a good time to get those ducks in order- buyers should start investigating financing and getting a general idea of what homes are available in what price ranges. Sellers should start a list of projects or improvement that they want to complete prior to putting a home on the market. A professional Real Estate agent is a good resource for deciding what should be done, and in what order. Some things can wait, and some should not be done at all!
After the snowstorm yesterday I am looking forward to a great day on the slopes with my family this weekend...finally it's supposed to be above zero outside! As always, call if I can assist or if you have questions! 802-846-7862

Stay warm,
David

Days on Market and list to sell %

We have been hearing for quite some time about how Vermont is doing quite a bit better than the rest of the country as a whole, with regards to Real Estate values holding. This is a graph based on MLS data that does indeed seem to show we are not so bad off. The days on market has definitely gone up considerably over the past couple of years, but our list price to sell price has done well! This should be encouraging news to folks who are in a postion of wanting or needing to sell, even in the downturn we are experiencing! If you have questions or would like other data please don't hesitate to call me...802-846-7862

Too cold!

So it's really, really cold outside and the kids are getting fidgety...what to do now? I have been relying on a great site, local to vermont, which has the most comprehensive list of family friendly things to do that I have found. The website is www.findandgoseek.net. You really should check it out! Remember too that Montreal is a great place to check out. The Biodome is nice and warm, like visiting the rainforest 2 hours down the road :) You can stay over for very little money, like $50- which for me is a great bargain and the kids love it. Check out www.hotwire.com to see some great rates. I then go to www.priceline.com and try to get a room cheaper than those posted on Hotwire. If you've got a year pass to the Echo center you will benefit from a reduced rate at tons of other museums, etc., including the Biodome.

Speaking of reduced rates...interest rates are ridiculously low, making refinancing or purchasing a new home a great idea. According to money.cnn.com "The 30-year fixed-rate mortgage has not been lower since Freddie Mac started the Primary Mortgage Market Survey in 1971."

Call if you would like the names of some trusted local lenders with great rates and service. -David

Vermont as a Real Estate "safe haven"!

A recently published article notes that Vermont's foreclosure rate is significantly lower than most other states, due largely to the fact that our permitting process for new construction is a bit tougher than other locations. It's frustrating when the times are good, but apparently is saving us now! The article is here, and is worth the quick read. Interest rates are super low and supply is great. I am surprised that more first time homebuyers are not flocking to get the best prices on homes in quite some time. Likewise, if you are selling in the same market you may end up selling at a lower price than you could have a year or two ago, but you are buying lower as well. If you are taking a 5% hit on the sale of your $200,000 home and saving 5% on your purchase of a $300,000 home you are making out quite well it seems.

-Stay warm,
David