Archive for the 'Real Estate News' Category

Time to make that final push before the end of the month and summer starts.  Home clean up and maintenance is really important for selling a home.  It makes a big difference in being able to get close to your asking price and when the building inspection happens.

Curb appeal draws buyers to houses, but the curb appeal has to come through on line before they will actually go and look at the house.  Making sure your house goes through a strong spring cleaning even if it is on the market.

Here’s a great article on tips for spring maintenance from Inman News:

10 home maintenance tips for spring | Inman News.

The historic Stowe Hardware building is now on the market and available for purchase.  Having housed a hardware store for over 100 years, this property is one of a kind.  It’s prime location in Stowe Village allows for maxim exposure for any business.

This building housed the Stowe Hardware and Tin Shop from 1829 until 2011: one hundred and eight-two years of history and commerce. Restored in 1999 to reflect the character of the 1800’s, this building offers almost 9000 square feet of retail and storage space. Few buildings in Stowe offer the versatility and location as this anchor at the north end of the village. There are endless possibilities where the character and history of this building could enhance businesses. Any possibility you can create there is square footage with charm. Wine bar, bookstore, coffee shop, restaurant to retail shop, ample parking, garage or shop space, use your imagination. Own a piece of Stowe’s history and make your imprint on its future.

Exclusive: $1,500,000

Contact: Peggy Smith: 802-793-3566 or McKee Macdonald: 802-375-5009

E: info@smithmacdonaldrealestategroup.com

View Listing Here: Stowe Hardware Building

When we sit down with clients to discuss selling their homes one of the main features we review is the shape of the house.  Not just the overall condition and impression it will make on the market, but how it will be received by the market.  What we have found is there are very few home owners that don’t need to declutter on some level.  By decluttering your home you make it show and feel larger and move inviting to potential customers.

Think about how much stuff we collect over the years, how much of it just ends up taking up space in a closet or the basement.  What type of impression does that leave?  Many people may think that since you can’t keep an organized home it’s a sign of other underlining problems like you haven’t kept the house in shape.  Even if you just clean up your closets so they give the appearance of having more space that’s a start.

Recently the New York Times ran a great article dealing with decluttering your home to help it sell faster.  Please click here to read that article: Declutter That House to Sell It Faster – Market Ready – NYTimes.com.

Here’s the latest article from Smith Macdonald Group’s McKee Macdonald featured in this week’s Stowe Reporter:

Spring Cleaning for Sellers

Winter is over, albeit a short one by Vermont standards, but it’s time to refocus and use “mud-season” to your advantage.  If your home has been on the market for a while, or just coming on the market spring cleaning takes on a whole new meaning.  Buyers expect to see a property that reflects the season.  This reflection has to take place on-line as well as at the actual property.

First understand where your home is being viewed and how it reaches buyers.  Knowing how and where buyers shop allows you to meet their expectations.

• 89% of all buyers start their search on-line
• 88% go through a realtor, who use an on-line format to present your home to potential purchasers
• Buyers expect an on-line shopping experience that is similar to other on-line shopping experiences for items like clothing, cars, etc.

Since the first showing of your home happens in an on-line environment, this is one area you should focus some of your spring cleaning.  In order to meet buyer’s expectations, you should be presenting them with a complete and full listing experience on-line and at the actual home.  Here are a few questions you should be asking yourself:

• Is my home where buyers are searching and can find it on-line
• Am I presenting the property as seasonally relevant
• What do my photos convey
• Do I have video
• Does my spring clean up come across on-line
• Have I addressed winter damage

Be prepared as a seller, by examining damage that might have occurred during the winter, you can be proactive and fix issues or figure them into your new and improved asking price.  This allows for you to account for any damage and shows potential buyers that you’ve done your homework.

In addition to the cosmetic changes, examining your asking price in relation to recent sales cannot be overstated.  Sales from the winter months have established where homes are most likely to trade in the warmer months.  Using this information to your advantage will result in a faster sale at a higher price.

By making sure your listing on-line has gone through a transformation, it will help you to prepare your home for actual showings.  Spring cleaning of any home is paramount to keeping it in top shape, but for homes on the market it can be a matter of selling or not.

Click here to read the article on the Stowe Reporter’s Website.

Here we go people, we’ve been blogging, tweeting and reporting on the progress of the Cady Hill Forest Conservation Project being conducted by the Stowe Land Trust.  Let’s make the final few days of April count.  If we can raise $100K then the Stafford Family Foundation will donate $25K!

Also the Stowe Mountain Bike Club has signed on to develop and maintain the Mt. bike trails within the forest.  Check it out here.

Here’s an update on the Cady Hill Forest Project.

Welcome to the Smith Macdonald Report, our 1^st Quarter examination of the Stowe, Lamoille County and Waterbury’s residential and land real estate market.  This report uses market-wide data based on transactions that closed in the first three months of 2012 and compares them to closings that took place during the first three months of 2011.  Closings usually occur four-to-eight weeks after a contract is signed for that reason, the sales activity charted here reflects transactions that closed during and through the end of the 1^st Quarter, and does not include contracts signed that have not closed.

Winter 2012 was lacking snow and that did have an impact on the number of buyers searching for homes while here for vacation.  Although the snow was off compared to 2011, there was a 7% increase in total units sold in 1^st Quarter 2012 compared to Q1 2011.  Inventory continued to dip to 100 residential listings for a 12% decline in Q1 2012 compared to a year ago.  Although, there were three sales above $1 million during the 1^st Quarter, that majority of sales happened below $500K, which resulted in a decline of 32% in the median selling price from $555K to $377K.  Although sellers have been reducing their asking prices, buyers continue to test the market by placing lower offers.  Smart sellers and buyers are able to find common ground, but usually after both have stated their initial positions.

Lamoille County residential sales turned a corner in Q1 2012, increasing 10% in sales volume compared to Q1 2011.  Although there was an increase in units sold the median and average prices were down 5% and 1% respectively compared to 2011.  Waterbury residential sales volume had a significant drop off in Q1 2012 down 60% compared to this time a year ago.  It is important to note the Waterbury market is very small and the reduction was a result of 2 sales compared to 5 last year during Q1.  This reduction resulted in declines in both, median and average prices, 12% and 25% respectively compared to Q1 2011.

One constant theme in the current market is the difficulty transactions have from start to finish, whether it is marketing, price, inspection or financing.  We have found that without the right team working hand in hand with you it can be extremely difficult to sell or purchase a home.  Coldwell Banker Carlson Real Estate continues to be the area expert representing 38% of sellers and buyers.  Of that 38%, Smith Macdonald Group represented 49%; we are ready to provide you with unmatched expertise and advice.

Request a copy of the Q1 2012 Report today.

$100,000 Challenge Announced for Cady Hill Forest

The community is being challenged to raise $100,000 in the month of April, in order to claim a generous $25,000 gift for Cady Hill Forest from the Stafford Family Foundation.

The land trust, which has raised nearly $1.2 million toward the $1.56 million project, is urging the community to pitch in and get the job done.

For everyone who has been thinking about giving to the project, we urge you to donate before April 30^th so we can claim this gift!

Stowe Land Trust works hard to preserve the land in and around Stowe.  This is one of the many reasons Stowe remains pure and natural looking and fantastic.  Their new project will help to conserve the Cady Hill Forest for generations to come.  What the result will be is 320 acres of town forest preserved and put into use with 11 miles of multi-use trails for hiking, biking, walking the dog, snowshoeing and more.  All of this will be a short walk from the village of Stowe.  This will add to the many properties that the Stowe Land Trust has preserved and put to community use over the years like Wiessner & Kirchner Woods, H. D. Burnham Farm and Mill Trail Property.

In order to get there the Stowe Land Trust needs to raise the final $450,000 by May 30, 2012.  Help Stowe Land Trust reach this goal by donating to help preserve this beautiful land.

Visit the Stowe Land Trust site to learn more about the Cady Hill Forest and all their projects.  Donate and Learn Here.

Historic Tubbs Mill

Historically, mills in New England were built along rivers that provided power to run machinery. The Tubbs Mill is not an exception. Originally built in 1806 as a leather shop, it burned to the ground in 1881. The property was bought for the waterpower in November of 1881 and a new mill was constructed. In 1890 it was sold and the manufacturing of butter tubs began. Again in 1921 the building was destroyed by fire. The town father’s bought the property and formed the company known as “Stoweware Inc.” and began the manufacturing of high-end wooden bowls. Stowe became known for it’s “Stoweware” bowls and continued manufacturing them well into the 1970’s. After that, the “Mansfield Canoe” was manufactured in the mill and later the “Tubbs” snowshoe.

Why is the kitchen so important in a house?  For one isn’t it the central hub of your home, where families gather to cook and prepare meals.  Where you meet in the morning for that first cup of coffee.  It’s also where everyone ends up hanging out at the party!

Kitchens can make or break a home in terms of it’s appeal and selling possibility.  A nice kitchen in a home that’s seen some wear and tear can help buyers get past the work that needs to be done elsewhere.  Don’t think that you have to have the highest end kitchen to attract buyers, sometimes if your kitchen is well laid out and updated all you need to do is clean it up to make it more appealing.  Of course if your kitchen is from the 80′s or earlier than you want to consider doing some upgrades, appliances at a bare minimum.

Read more about what is possible with kitchens.

Realty Times – Kitchens Sell a House.

Realtor Magazine takes a look at the year ahead and what sections of the market will be hot and best bets.  They focus on both residential and commercial.  From the residential stand point international investors will play a large portion in the US market given the economic situation outside of the US.  Also distressed inventory in centrally located neighborhoods will continue to draw attention as well as good rental units.  On the commercial end of the market they target, office and retail space as well as warehouse space and multifamily units.

In the Stowe market we will see all of these areas take shape in one form or another.  Stowe offers opportunities in all of these categories, so it becomes attractive to buyers.

The Year Ahead: Real Estate’s Best Bets in 2012 | Realtor Magazine.