Having grown up in Stowe and attended school K to 12th grade, I can first hand tell you what an amazing school system it is.  When I graduated in 1995, I graduated in a class of 42 students.  I would say that I attended kindergarten with close to 25 of them.  One of the things that I noticed when I went away to college was that I had friendships that were deeply rooted in my life due to the smallness of the Stowe school system.  This is something I learned that a lot of kids from other parts of the country and other school systems did not experience.

School is all about learning, but not just from excellent teachers, its also from other students and the community as a whole.  Stowe offers that in spades and I for one am proud to be a graduate of the Stowe school system and proud of their achievement.

Top Vermont High Schools | Best High Schools | US News.

The rec path is 11 miles long and runs from the center of Stowe Village up towards Mt. Mansfield, ending near Topnotch Resort. The path follows the West Branch River and the Mt. Road.

It is great for biking, walking, running in the summer and cross country skiing and snowshoeing in the winter. There are plenty of swimming holes located along the path.

The path is fun for all ages and there are places to stop and eat along the way so you can fully experience all Stowe has to offer.  During the summer the Helen Day Art Center hosts Exposed in Stowe, an outdoor art exhibit along the path.

Running next to the paved Rec Path, is the Quiet Path, which is for walking and quiet enjoyment of the natural surroundings, it’s also great for walking your dog off the leash.

For more information on the path click here: Stowe Rec Path

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.

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.

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.

Come up and stay in Stowe and get those last few runs of the year.  There are many discount packages being offered at area hotels and resorts.  Email me today to see about our vacation rentals.

Purchasing a Home and Getting a Loan in Today’s Market

Although inventory in Stowe declined by 15% in 2011, this is still considered a buyer’s market, but people are buying as evidenced by the 23% increase in sales volume this past year.  For those buyers thinking about starting their search understanding the mortgage process is paramount to reaching the goal of homeownership.

Today’s lending environment has changed dramatically from before the economic downturn.  Financial institutions became extremely cautious following the downturn as reflected in their lending standards.

“Mortgage rates are near historic levels. Even though lenders have tightened up lending guidelines, with the right preparation and expectations, it is possible to take advantage of the current low rates,” according to Mark Stanton, CMP, of Primary Residential Mortgage, Inc. located in Stowe.  For a buyer taking advantage of these rates this means often being able to afford more at a lower monthly payment.

As a buyer searches out a realtor they should also be contacting a bank, mortgage broker or other financial institution to help determine what they can afford.  Key to navigating the lending process is having a strong team with good communication.

When preparing to purchase a home, here are a few items buyers should prepare:

• Check your credit score and status.  Make sure to check with each of the three major credit bureaus – Equifax, Experian and TransUnion.  Your lender can help with this.
• Prepare your documents; pull together recent pay stubs, portfolio, bank, credit card, and loan statements.
• Employment verification; have your HR department prepare an employment letter stating history and salary.  Prepare them to verify this information again as you get close to closing.
• Figure out your down payment.  To take advantage of the best rates many lenders require a 20% down payment of the purchase price.  Know how much you have to put down and where it’s coming from.
• Two Years Tax Returns.  If you are a salaried employee this helps to verify your income.  If you are self employed or receive a 1099, this will establish and verify your income.

In a recent CNN Money article, Greg McBride, senior financial analyst for Bankrate.com, even expects that lenders will ease up on borrowing requirements — marginally — in 2012.  “Instead of requiring a 740 credit score for the best rates, lenders will dip their toes into 720 waters,” he said.  Knowing your score ahead of time will help you and your team best determine the right loan and property.

Vermont has the lowest foreclosure rate in the country and that is a result of local lenders and mortgage brokers helping Vermonters find the right product.  “There are still great programs out there to help borrowers with little or no down payment.” says Jeff Teplitz, Residential Mortgage Loan Consultant with EverBank, located in Stowe.  “FHA requires a 3.5% down payment, Rural Development and VA allow for no down payment.  All three programs allow the seller to contribute up to 6% of the purchase price towards closing costs.  If you have 5% to put down, Fannie Mae and Freddie Mac are still offering very competitive products as well.”

The forecast for rates in 2012 is that they will remain historically low, this coupled with continued affordability should help the national and local markets continue to stabilize.  Locally our market is viewed as a stable market and is attractive to lenders.  For buyers, Stowe continues to be a sound place to invest in real estate.

McKee Macdonald is a broker with the Smith Macdonald Group, part of Coldwell Banker Carlson Real Estate of Stowe. Comment on this article at stowereporter.com, or email letters to news@stowereporter.com <mailto:news@stowereporter.com> .

To read the article at the Stowe Reporter click here.

Locally this holds true, Stowe and the surrounding area have continued to remain affordable for buyers.  The historically low interest rates are helping purchasers get into homes that might otherwise be out of reach.  That and the seller’s realization that by making adjustments to their asking price can result in finding a buyer.

Read the WSJ article here:

Will the Housing Market Finally Start Rebounding in 2012? – WSJ.com.

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