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It is our pleasure to inform you that Smith Macdonald Group of Coldwell Banker Carlson Real Estate has released its 2011 Year End Report, our survey of residential real estate sales in Stowe, Lamoille County and Waterbury. This report compares data based on deals that closed by the end of 2011 (January 1 through December 31) with those closed in the prior quarter and in 2010.
The momentum generated by the Stowe area real estate market last year has continued in 2011. Market-wide, sales transactions increased 23% versus a year ago. While inventory has decreased by 15% in 2011 compared to 2010.
As always, we continue to follow closely this area’s sales activity and trends in residential and land real estate, and would welcome the opportunity to answer any questions you may have about the report or the market generally.
Request your copy of the 2011 Year End Smith Macdonald Report.
Interesting article relating to commercial properties in 2012. The U.S. ranks top investment pick according to the 20th annual survey of Association of Foreign Investors in Real Estate (AFIRE) members.
While this only deals with large cities the same factors that make them appealing to investors also come into play on a smaller scale for local commercial properties. Commercial properties often take longer to sell and can remain vacant, but with a growing economy and lower jobless numbers (see up coming blog on Jan 5th regarding lower jobless numbers) they become attractive quickly. The Stowe area has many commercial options and several have started to attract new businesses to the area.
To read the full article click below:
Understanding where the other party stands during a transaction is paramount to finding common ground to get a deal done. Attitudes are often fueled by emotions and unrealistic views of the market place. Whether you are a buyer or seller it’s important to take a step back and try to understand where the other party is coming from. It helps to use a real estate broker to get a non-emotional view of the transaction and then move forward from there towards reaching a mutual goal. Click below for more information how to keep attitudes in check.
Attitudes can interfere with home sales and purchases | Real Estate Articles | Coldwell Banker
One important aspect of owning a home with children is making sure it is safe. From preventing falling down stairs to getting into chemicals, what we do to keep our children safe within the home can be life saving.
For important tips on room by room safety measure, please read more below.
This week’s edition of the Stowe Reporter featured McKee’s monthly real estate article. This month McKee explored first time home buyers. Here’s a copy of the article:
First-Time Home Buyers, looking at the facts.
It has been over a year since the expiration of the Home Buyer Tax Credit; it’s time to reexamine what statistics make up the current first-time home buyer.
According to Ron Phipps, 2011 National Association of Realtors President, “First-time home buyers fell to a 37 percent market share in the past year from a record high of 50 percent in the 2010 study.” This drop off is directly related to the expiration of the home buyer tax credit. Phipps goes on to say “Long-term survey averages show that four out of 10 buyers are typically first-time buyers.”
Who are these buyers, how do they purchase and what motivates them?
The majority of first-time buyers’ purchase in urban or suburban areas, but there are three other categories where first-time buyers do purchase that apply to the Stowe area.
How do these buyers find the homes they purchase?
The following is a more in-depth understanding as to where first-time buyers actually identify the home they ended up purchasing.
While Stowe caters to many different types of purchasers, the fact that the sub $500K price point makes up 55% of the local market, makes it clear first-time buyers remain an important part of the marketplace.
Sources: 2011 National Association of Realtors Profile of Home Buyers and Sellers; Coldwell Banker
To view the article online, click here.
McKee will be featured on a monthly basis in the Stowe Reporter in his column “On Real Estate.” Each month McKee will explore different facets of the real estate industry and market offering an in-depth analysis and opinions.
Stowe, VT offers a unique real estate experience for the New England area, it has better access to world class skiing and resort than any eastern mountain. Buying and selling in Stowe, VT requires a local expert.
Take a look at this month’s article, by clicking here.
If there are topics you would like discussed please feel free to email McKee with suggestions at mckee@mckeemacdonald.com
It is our pleasure to inform you that Smith Macdonald Group of Coldwell Banker Carlson Real Estate has released its 2011 3rd Quarter Report, our survey of residential real estate sales in Stowe, Lamoille County and Waterbury. This report compares data based on deals that closed by the end of Q3 2011 (January 1 through September 30) with those closed in the prior quarter and in the 1st three quarters of 2010.
The momentum generated by the Stowe area real estate market last year and in the first two quarters has continued. Market-wide, sales transactions increased 23% versus a year ago. This represents a 121% increase in sales volume in Q3 from Q3 in 2009, which represented the bottom of the market.
The Smith Macdonald Group ranks number one in all Lamoille County residential sales transactions during the first three quarters of 2011 and top ten statewide year to date. Additionally, Coldwell Banker Carlson Real Estate represented 31% of all sales in markets reviewed in this report more than any one office location.
As always, we continue to follow closely this area’s sales activity and trends in residential and land real estate, and would welcome the opportunity to answer any questions you may have about the report or the market generally.
Looking forward to speaking with you soon and we hope you had a nice summer.
It is difficult to understand all of the terminology that is thrown out today. Many people do not want to admit that they have no understanding of these terms or they do not understand the difference between them. Here are some short explanations that might help:
Bank owned properties take the least amount of time to close on a property. They can be listed with a real estate agent and purchasing them works just like a regular sale. The advantage to bank owned properties is the bank has no attachment to the property and they want to get it off the books as quickly as possible. Usually this results in a good deal for the buyer.
Foreclosures can be a bit problematic. Sometimes the bank or mortgage holder will auction off the property. It will be necessary to have your financing secured and a ten per cent deposit at the time of the auction. One thing to be aware of on foreclosed properties is the condition of the property you are purchasing. Many times the foreclosure process takes so much time and the homeowner might be angry that his property is being taken away. The house might not be in good condition. There may have been burst pipes, damage to the plumbing, wiring or the like. A thorough inspection by a qualified contractor should be done before the auction or a condition of the sale at auction
With short sales, be prepared for a possible wait when making an offer on a pre-foreclosure/short sale home; very few can close in 30 days or less and in my experience they take over nine months to close. If the owner has not completed a bankruptcy procedure, the bank has the right to go after the difference between what the property is selling at and what the owner owes. It is very hard to do a short sale without the cooperation of the owner. It does have advantages for everyone but a great deal of patience is required.
The reward can be an excellent property purchased at a great price, but the frustration level may be greater than the reward. Each side should have a real estate agent experienced in short sales, along with lawyers, and other professionals. Each of the steps along the way can be made easier by seeking out the experts in their fields.
Since the downturn in 2008 homeownership has been on the decline and the percent of people renting has risen. Since home prices in many markets have hit bottom or are near bottom and interest rates remain historically low it is now time to take a closer look at buying verses renting. As rents have steadily climbed many people may find they able to return to homeownership at the same cost as renting.
Click this link to examine the differences on whether to buy or rent.
