Archive for the 'Vermont Economy' Category

This year has started out with a much different level of confidence than we had last year at this time.  According to the National Association of Realtors, less mortgages are becoming delinquent and going into foreclosure.  This bears well for our local real estate market and economy.  In Burlington, Vermont  and our surrounding area, we are experiencing a much better mortgage delinquency rate than in most other areas of the country.  Our deposits are ahead of last year and we are working with a number of people that are looking to purchase homes.  Business has definately picked up and we feel that the economy has taken a turn for the better.  Run a VT MLS Search or view new listings this week!

Brian French of Century 21 Advantage blogs about short sales and foreclosures in Burlington Vermont. Oftentimes there is assistance when hardships occur.   A couple of examples of resources to use are www.hud.gov and for people trying to get some guidance they can try www.makinghomeaffordable.gov as well. Nationwide there are a number of people going through this process and it is good to have resources that can assist you in the process.  If you would like more information on short sale and foreclosures, drop Brian a line at brian@c21-advantage.com your real estate advantage.

If you get Sunday’s newspaper check out the real estate section and notice all the price reduction banners. Prices of homes are still being reduced and now is a great time to negotiate a good value for yourself. Things seem to be moving in a positive direction which means that the buyer’s market may be a short-lived event, but for now it is still alive and well. Take the time to check things out with your favorite Realtor and see what kind of a buy you can get in this market. If you don’t have a Realtor, drop me a line. I can help you out. Brian

Now that summer is officially over with yesterday being Labor Day, I hope everyone got to enjoy it to its fullest. It definately was a shorter summer with all the rain we had in June and July. Mother Nature was kind to us these past 4 days though with no rain even predicted. With that said, the real estate market is still chugging along and the interest rates are still great. Now is the time to make that move before winter takes its toll. We bought our annual ski passes this weekend thus confirming that it is inevitable and not that far away. But for now, we will enjoy the rest of the warmer weather and look forward to the changing colors that are in our near future. If you have a real estate need, drop me a line. Brian

Recently I attended a Realtor function where I was able to talk to a number of my peers about the current market. It appears that we are seeing a resurrection of sorts for deals being done. The attorneys that we work with said that most of their business is now purchases instead of refinances and all the Realtors that I spoke with seemed to be optimistic about the current condition of the market. It has picked up and with the rates still at incredibly favorable status, it really is a great time to buy. We are starting to see multiple offers on properties that are priced properly and we are seeing more inventory that is representative of the market conditions. If you would like to see how you can plan for your future in real estate, drop me a line or give me a call. Brian French

I don’t know if you have the same problem I do, but my taxes continue to rise during a time when property values are not. How can the assessors justify tax increases when values have decreased by at least 10%? It is time to reduce our city budgets and fat from our ledgers. If we continue on this path, it will make it impossible for retirees to continue to hold onto their homes.  For all intensive purposes we are forcing our elderly to exodus our state because they can’t afford the cost of living.  We must speak up and do it now.

If you are a first-time home buyer, now is the time to get pre-approved and contact yours truly to find you a home. For only a short time left if you close on your first home by December 1st the government will give you an $8,000 tax credit when you file your taxes the next year. This is really a deal that seems to good to be true, but more importantly it is to good to pass up. I have been selling real estate for the last 25 years and this is the first time that I have ever seen anyone offer free money for purchasing a home. Tha’t s right it is free and you should all be taking advantage of it.  Especially since the interest rates are so low. But remember the clock is ticking and before you know it, this special offering will be over and my only hope is that you can say that you saw it here first and took advantage of it.  Drop me a line today. I can help.

Finally mother nature is finally showing signs of warm weather and summer like conditions.  Along with that the real estate market has warmed up these past two months as well.  There has a been a lot more activity and if it continues through the fall, this winter will be a lot easier to handle than last winter. The interest rates are still fantastic after an initial bump up into the 6% range, but they have slowly made their way down to around the 5.5% range just recently.  There are a lot of motivated sellers out there and prices have made their way down to reasonable figures.  If you are thinking about buying, now is the time before interest rates bump back up. Call me or drop me a line,  and I can help. Brian. 800-445-6298 ext 34.

It has been awhile since we talked about the real estate market in Burlington Vermont, only because there wasn’t much to talk about until now. June was a fantastic month for people putting homes under deposit. Interest rates bumped up this past month, but have slowly worked themselves back down under 5.5% in most cases. We have closed the gap for closings -time homebuyer tax rebate has helped our economy and more and more people are taking the plunge into home ownership by purchasing their first home. There are lots of deals out there if you know where to look and I can help you out with it. Just drop me a line. Brian French

We knew it would be only a matter of time before we saw things starting to take a turn for the better, and I think that is what we are seeing right now. Listings are getting more showings and the phones are ringing more and we are taking more contracts then we had in the last 4 months. It is a slow movement. One almost like a glacier that begins to thaw and move its way towards the ocean. Yes it is slow, but we will take slow verses no movement at all. People are finally realizing that this is the time to make the move. Interestingly enough, I noticed the interest rates bump up 1/2 % higher from yesterdays rates. I hope that is not a trend that is going to take place in our near future. The real estate market couldn’t handle that situation during this volatile time. If you would like some help in taking advantage of the first-time home buyer tax credit or have any other real estate needs in the Burlington area, give me a call or drop me a line.  I can help. Brian