Rates are great!

For those of you who have not refinanced in a while, you may want to consider it... Mortgage interest rates are in the 4.875 % range- historically low for anyone who hasn't heard or been following. I have many friends, family, and clients who are saving hundreds and hundreds of dollars a month now that they refinanced. I have a great working relationship with several excellent local lenders and would be happy to refer you to one or more...just call and ask me!

If you are thinking of buying, but are on the fence, I would be happy to run the numbers for you. One thing to make sure to remember when deciding whether to continue to rent is that when you have a mortgage, all of the interest is deductible at tax time. In the early years of the loan period much of the payment is in fact interest, making the savings quite large. Again, happy to explain in more detail if you would like.



Here is a little blurb from a website called HousingPredictor.com:



Vermont
There isn't any place else in the country like Vermont. It's a scenic wonderland covered in green vast forests and white snow in winter months. During the summer it's an outdoor paradise. Its housing market is the most sluggish in the nation that provides little appreciation or deflation. The Vermont housing market is the type investors frown upon and residents love.
In Burlington, slightly more than 100 homes sold in the last year. In neighboring South Burlington and Rutland more homes sold, but not at anything like a frenzied pace. The big national lenders never made a market to sell mortgages in Vermont, which may be this state's saving grace. There were hardly any subprime mortgages or new creative loans to obtain. As a result, there isn't a foreclosure epidemic in Vermont at all. They've dodged the national real estate crisis all together.



Happy Spring!

-David