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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.
An Example of a Home in Poor Condition
We are often asked what are good projects and items to do to increase or keep the value of your home. In the following article you will see what exterior projects are the most important in terms of an investment by homeowners. Curb appeal is key, not only from the actual street, but from the web as well. If your home does not present itself well in either the likelihood it will be shown and sold is greatly reduced.
In Vermont with the weather we get it is important to take care of exterior features to maintain value. Roof’s and siding can easily fall into disrepair if they are not cared for. These are two areas we see sellers having to fix or address after a building inspection. Keeping those items up to date and in good shape will help sellers realize great returns on their homes.
To reach more about exterior replacement project, click below.
REALTORS® Identify Exterior Replacement Projects as Best Investment for Homeowners.
The FHA (Federal Housing Association) will continue to allow buyers to purchase distressed homes owned by the bank or HUD using FHA-insured financing. Interesting article, see below.
FHA Waives Anti-Flipping Rule Through Year-End to Speed REO Sales.
The harsh winters in Vermont make taking care of winter weather damage very important. If you are selling in the winter it’s smart to look over your house and identify areas that might be potential problems. If you are a buyer beware that buying in the winter poses home inspection issues that may not be visible during the summer months.
Learn more about dealing with winter weather damage, click below.
Dealing with winter weather damage | Real Estate Articles | Coldwell Banker.
In light of the historic destruction done this past fall by Hurricane Irene many of us have been dealing with what is covered by our homeowners insurance and what isn’t. It varies by company and location, but here are some common misconceptions that happen and items to look out for when you are examining your coverage.
Homeowners’ insurance misconceptions | Real Estate Articles | Coldwell Banker.
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
As we head towards the end of 2011 and gear up for 2012 one of the major questions is what is going to happen with housing. While we wish we had a crystal ball and could say with certainty, we don’t. So we look at many different sources of information and form opinions from those and try to find our way from there.
December’s issue of Money Magazine offers a positive outlook on the 2012 housing market. The main point being that most of the country will start to see stabilizing in their local housing markets. What they point out and we agree on is don’t expect prices to start to jump just because the market is on more stable ground. This is very true in the Stowe area.
Another item of note is pay attention to interest rates if you own a home or are considering buying a home. You can save yourself more money now on a monthly basis with the lower rates and purchase more home than you will be able to do if rates move up, even if home prices drop slightly.
To read the article in full click here.
Realty Times wrote a good article about home ownership. If you have the ability to purchase a home you would be hard pressed to find a better time than now. Prices are affordable and interests rates are historically lower than ever. Read more about five great things about home ownership.
Negotiating is something that must happen between a buyer and seller in order for a transaction to take place, understanding each parties starting point is paramount in reaching an agreement. Every market is local and local knowledge is what the majority of the negotiating decisions should be based on by both parties.
In today’s market the buyers often have the upper hand in making demands from the seller. It’s important for the seller to understand this and to approach every offer with an open mind, no matter how low. Seller’s don’t have to accept offers, but by closing themselves off from certain offers they may be missing a good opportunity to come to an agreement that is acceptable to them and the other party.
Whether you are a buyer or seller having an expert as your team member to help guide you through the process is important and can be deal saving.
To read more on negotiating with home buyers, click below.
