Archive for the 'Vermont Economy' Category

Home Sales in Vermont are warming up!

According to a recent article home sales in the Northeast had slipped compared to the last time last year. In our local Burlington, Vermont area, the local marketplace seems to be heating up quite nicely due to the incredibly mild winter and warmer temperatures that we have recently experienced.

View the newest homes for sale this week.

 Mortgage Rates To Remain Low

According to a recent article, the Federal Reserve  has expressed their plan to keep interest rates low through 2014. What that will mean to people buying homes in the Burlington, Vermont area is that homes will continue to be more affordable. Over the lifetime of a loan, with a 4% interest rate, compared  to one that is at 6%, can be a difference of $50,000 over the life of the loan. Additionally, monthly payments at these lower rates can save people hundreds of dollars each month in payments.  With that said, it is a great time to buy a home when you can reduce your cash out lay so dramatically.  Get started on your Vermont Real Estate home search.

Vermont Real Estate November 2011 Market Statistics Released

According to the Northwestern Board of Realtors, there are some interesting market statistics which imply that the market is slowly starting to turn around. Currently the inventory level is down to levels not seen since 2007.  If that is the case, that may start stabilizing the prices in our area. With price stabilization comes confidence, and with confidence comes a healthier market.  We are encouraged to see that year-to-date closed sales are up compared to last year at this time.

Vermont real estate Inventory levels dropping.

The information is derived from data contained in the Northern New England Real Estate Network and covers Chittenden, Franklin and Grand Isle Counties.  New listings increased 10.2 percent in the three counties, while inventory declined 13.8 percent and has returned to 2007 levels. Pending sales and closed sales were also down in the month-to-month comparison, but continue to be up year over year to date, 2.8 and 3.4 percent respectively.

 “Inventory declines were significant and could hint at a changing market in early 2012,” said Kathleen Sweeten, executive vice president of the Northwestern Vermont Board of REALTORS®. Interest rates hovering at historical lows and a declining inventory are indicators of a healthy market to come, barring any unanticipated shocks.

 Chittenden County Real Estate Prices down 6.9%

While home prices are the most popular barometer of the real estate market, many factors play into the month-to-month data. These include purchase demand, market times, absorption rates, and the mix of homes in the market at any given time.

• The median home price in Chittenden County was $242,000 in November, down 6.9 percent over last year.
• In Franklin County, the median home price was down 10.8 percent to $182,900.
•  Grand Isle County showed the largest increase in median sales price of $254,000, jumping 31.1 percent over last year at this time.

 The Northwestern Vermont Board of REALTORS® (NVBR) is the “Voice for Real Estate,” in northwestern Vermont representing over 600 members involved in all aspects of the residential and commercial real estate industries.

Start your MLS listing search and sign up for listing updates!

 Source: North Western Vermont Board of Realtors

United Health Foundation has Vermont number one for the third year in a row  

Vermont is again ranked the Healthiest State in the Country. It doesn’t surprise me that Vermont, once again, captures attention for its healthy environment.  As a native Vermonter, I can attest to all the positive healthy attributes one might find living in Vermont. We are an active bunch and hold high standards for ourselves and our children sometimes more than other areas.  Read this article and you will find out how we won such wonderful recognition for the third year in a row.  Read the article, but don’t eat the chips.

Read more about the findings of how Vermont ranked number one according to the United Health Foundation.

10 Reasons to Invest in Real Estate  

With all the doom and gloom articles that have been published  in the last few years about the economy and the collapse of the housing market, one might think that investing in real estate might not be such a good idea. I beg to differ for a number of reasons in our local market place.

1.  Prices have dropped to the extent that now would be a perfect time to upgrade to that home that you couldn’t afford in 2006.
2. Interest rates are at some of their lowest levels which makes it more affordable to make your payments.
3. The interest is still tax deductible which can help you with finances.
4. It is a forced savings plan when you consider it is going towards something that you will eventually own.
5. You have something to show for your monthly payments.
6. You can decide when and how you want to remodel your home and not have to ask anyone else.
7. When the economy turns around, and it will, you will have a head start on building wealth for your future.
8. Real estate has always seen highs and lows and wouldn’t it be better to be buying when it is at a low?
9. You’ll get a better home.
10. It is a hedge against inflation.

If you need more ideas than this in order to convince you, let us know. We have more.

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