Burlington Real Estate

Westlake, College and Battery, Hinds Lofts, The Vermont House...Breaking Down Burlington's Most Popular Condo Buildings

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Westlake, College and Batter, Hinds Lofts, The Vermont House...Breaking Down Burlington's Most Popular Condo Buildings

Living in downtown Burlington is a great choice for many.  Why wouldn't it be?  If you pick your condo right, you can easily be just steps from the beautiful Burlington Waterfront, the popular Church Street Marketplace, plenty of parks, the Bike Path, and countless shopping and eating opportunities.  So which condo development is best for you?  Today we'll exprlore some of the selling benefits to each of the more popular projects we find buyers gravitating to; Westlake, College and Battery, Hinds Lofts, and the Vermont House.  

Now, as far as affordability and value goes, the Vermont House is the way to go.  Here you can find quaint 1 and 2 Bedroom apartments, often for the sub-$300k price point.  The higher you get in the building, and the better the views get you should expect slightly higher pricing.  Located at the Corner of Main and St Paul, the Vermont House has one of the best locations in town.  Stroll across main St to he park, or simply head a block east and find yourself right in the center of Church St.  Parking can be a problem as there is a wait list for the private parking lot for the building, but we're told the wait is only 6 months or so, depending on attrition.  http://www.vtbuyer.com/burlington-condominiums/the-vermont-house/

Just down the Street from the Vermont House, you'll find the Hinds Lofts located at 161 St Paul St.  Developed in recent years, the Hinds Lofts is an excellent example of the successful rehabilitation of an antiquated building in downtown Burlington for residential use. The developers maintained the character of the building, yet introduced modern touches and conveniences into the construction of the condominiums which offer a unique living experience. The Hinds Lofts are an easy walk to the Church St Marketplace, the Flynn Theater, and the countless other amenities within beautiful downtown Burlington. The project consisted of just 15 condominiums upon original construction, but the marketing of resale units occasionally arises.  http://www.vtbuyer.com/burlington-vt-real-estate/hinds-lofts/

Geeting a bit closer to the Lake, we'll head West and find College and Battery--of Burlington's finest condominium projects.  Ranging from 1 Bedroom Flats, to 3 and 4 bedroom units and large penthouses, College and Battery boasts not only an ideal location in the heart of Burlington, but most units have fantastic views of Lake Champlain and the Adirondack Mountains.

Enjoy walking to the waterfront, or the Church St Market place for shopping, restaurants, and all that Burlington has to offer- right from your front step.  The condominiums have reserved parking in the private garage, storage in the basement, and secured locked entrances. 

Along with being the exclusive builder for College and Battery, Dousevicz Real Estate was also one of the active brokerage firms used in the marketing of the project when it was first completed. This experience coupled with Brad’s extensive knowledge of the downtown Burlington luxury condominium market from being the marketing broker for a similar luxury condo project, The Westlake, offers Brad the level of experience you will not find in another agent.  http://www.vtbuyer.com/burlington-vt-condos-for-sale/college-and-battery-condos/

The Westlake is one of Dousevicz Real Estate’s most recent and ambitious development and construction projects to date. Consisting of 32 luxury condominiums with sweeping views of the Adirondacks and Lake Champlain, the Westlake is one of Burlington’s most desirable addresses. The condos at Westlake mostly consist of 2 Bedroom, 2 Bath open layouts that benefit from the best location and views in Burlington.  Prices generally range from the low $400k's for lower floor units to over $1,000,000 for upper floor and penthouse units.  Most of the units at Westlake were fully customized during construction so many units are unique in design and floorplan!  http://www.vtbuyer.com/burlington-vt-condos-for-sale/the-westlake/

Although we only explored four projects here today, there are plenty of other condominium projects in Burlington, depending on which location you desire.  Please call or email Brad today to help in your customized search for Burlington Condos!  

South Burlington Market Statistics for Condominiums and Single Family Homes For March 2015

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South Burlington Market Statistics for Condominiums and Single Family Homes For March 2015

One of the hottest markets in Chittenden County, and one of the overall most active markets in the entire state of Vermont, is South Burlington.  It's no surprise that locals and transplants alike flock to the City of South Burlington, located just a few miles to the South of Vermont's largest city, Burlington.  South Burlington has some of the best school systems around (although I've told clients time and time again that you really can't go wrong with any of the school systems anywhere in Chittenden County), has great shopping opportunities (Hannafords, Lowes, Trader Joes, Healthy Living, University Mall to name a few), and a fanatastic location near Burlington, Williston, Essex, and easy acces to I-89.  Nearly any home in South Burlington can be deemed "well located" when looking at accessibility to shopping, schools, and employers, but you can also find privacy in select areas or homes and condos with a more "urban" feel.  Frankly, the City of South Burlington has it all.  So, what does all of this mean for market data?  Pricing, median sales, etc?  

Let's explore the data for March, 2015 to give you a snapshop of what you can expect when you buy that next home or condo in this highly desirable location in Vermont:

There were 42 new condo and home listings and 22 sold listings for the month of March.  More importantly, there were 40 "pending" listings which means they will close in the near future, likely 4-6 weeks.  The average sales price for the month was $314,000, which was an 18% increase from the previous month.  The average sales price the same period for 2014 was only $268,000, which means the market in South Burlington active and improving.  The average days on the market was 82, which was a decrease of over 35% from the previous month.  The average days on the market this time a year ago was 85 days.  

Overall the market in Chittenden County, and specifically South Burlington, is healthy and showing improving property values as we exit the first quarter of 2015.  This type of healthy market is precisely why Dousevicz Inc is going to be launching two new neighborhoods in South Burlington the later part of 2015, totalling a combined 159 housing units.  If you would like information on buying your next home or condo in South Burlington, call Brad today at 802-238-9367 or email him at dousevicz@gmail.com.  Here's to Spring!

 

 

 

Top Cities in New England - Vermont Has It's Fair Share!

Golocalpro.com recently just ranked the best cities in New England based on such indicators as: Economics/ Prosperity, Safety, Culture, Health, and Quality of Life. It's no surprise that a Vermont town made the list--but FOUR? Wow. That's right, 4 local towns made this list. They are; South Burlington, Essex, Burlington, and Colchester. As someone who actively markets and sells homes and condos in each of these markets, along with living in Colchester myself, I can fully understand why each of these towns made the list. They each have wonderful attributes, ranging from excellent schools, access to wonderful and healthy lifestyle choices, and interesting and neat things to do around town. In addition to the criteria outlined in this analysis, the real estate has been fairly stable, and a good invest for most in each of these downs. Give a call to Brad about buying or selling in any Chittenden County town, including the ones that made this prestigious list- South Burlington, Essex, Burlington, and Colchester.

Spring Brings Showers, Showings, and Closings in Vermont this Year!

The sun is shining as I type this. Thank god. This Spring has been the "rainiest" Spring on record for Vermont, and I know I'm not the only one ready for Summer. Thankfully this hasn't stopped home buyers in Vermontfrom getting out into the marketand seeing properties, making offers, and closing deals! We at Dousevicz Real Estate have seen RECORD activity inNorthern VermontReal Estatefor our office this year, thanks in no doubt to:
  • Still record low interest rates. Rates are still hovering in the mid 4's, which are phenominal!
  • A very nice housing stock in northern Vermont. Sellers are prepping their homes how they need to- making those improvements that have been needed, keeping their homes clean and lawns kept, and eliminating clutter whenever possible. Our clients LIKE WHAT THEY SEE when visiting most homes, which is sure to generate more offers!
  • Sellers and Buyers are willing to COMPROMISE. We've worked on a few deals this Spring where both the buyer and the seller were willing to give something up, in order to get the deal done. The great deal is where everyone wins, and everyone is happy around the closing table. We're seeing this more and more- keep up the good work buyers and sellers!
Prices in Northern Vermont remain stable when compared to the previous year. What we ARE seeing is that homes in certain areas are on the market for LESS TIME. Much less than what we have seen in the previous 12 months. Specifically, we've experienced two deals for condominiums in South Burlington and Burlington where the deal we put together the condo's were on the market for less than 10 Days, and sometimes they had MORE THAN ONE offer! The lesson here? Be ready to negoatiate, come as a pre-qualified buyer, and try to make offers with minimal contingencies. Do these things and you can WIN the home and condo of your dreams in Burlington, South Burlington, Williston, Essex, or wherever your search takes you. Contact Brad Dousevicz of Dousevicz Real Estate today for the latest market data, your free market analysis for your home, or just to chat about your options. 802-879-4477 or 802-238-9367. Brad@dousevicz.com

What Taxes Should I Expect to Pay When I Buy or Sell a Home In Vermont?

We get this question quite a bit. Especially from Vermont 1st Time Homebuyers, or buyers moving to Vermont from another State. Today, we'll take some time to dive into what you should expect to pay at closing when buying a home in Vermont. In Vermont, the buyer of real estate pays the "Vermont Property Transfer Tax." (This differs from State to State, so there is the possibility you may sell a home in one state, pay your tax, and then pay a tax when you buy in Vermont!) If the buyer is going to have the residence as their primary residence, the tax is calculated as follows:

  • .5% of the first $100,000, then 1.25% for that portion of the sales price over $100,000.
The law allows for a few exemptions from this tax, and they should certainly be explored with your attorney:
  • a transfer directly to a creditor to secure a debt.
  • tansfers to a corporation
  • transfer without payment to a spouse, child, or grandparent
Usually the property transfer tax form is filled out by the SELLERS attorney, and signed by each party at closing. For Sellers, if you are selling your primary residence, and it has been your primary residence for at least 2 years, you will avoid a capital gains tax. As for property taxes, see the following link for information from Town to Town: http://www.vermontrealestatetoday.com/newsletter/2009effectivetaxrates.pdf You will notice that property tax rates vary greatly from town to town. In conducting your Vermont home search, be sure you have a firm grasp on how taxes may differ from each town you may be looking. You may be surprised at the differences from one town to the next! For more information, or to ask about your options in buying Vermont Real Estate, contact Brad today at brad@dousevicz.com!

Is it a good time to buy real estate in Vermont?

The recent economic "meltdown" has effected the housing market in various ways in the last few years. We can't seem to escape the constantflow of bad news coming from our televisions every night on the evening news, can we? Today we'll explore why it's a great time to buy real estate in Vermont, and the Burlington and surrounding areas of Chittenden county, specifically. The first thing I always remind buyers and sellers is this; Vermont real estate, like politics is first and foremost LOCAL. What's happening in Miami, Las Vegas, or Southern California doesn't really affect us up here in Vermont. Here are some major reasons why:
  1. Vermont did not experience the "Boom" those other areas experienced, and we hence have not experienced the "Valley" either. Vermont's home values, even in the growing of the housing boom, staying fairly level. Vermont has laws that prevent speculative buying, and our building community to did not over-build the available inventory to sell. This has helped maintain home values in Vermont and the more localized areas of Burlington, South Burlington, Williston, Essex, Charlotte, Colchester, and Shelburne.
  2. The current national unemployment level is hovering at around 9%. The unemployment level in Vermont, and more precisely Chittenden County, is nearly 1/2 that amount. The bottom line is that jobs in Vermont have not been nearly as affected as they have in other parts of the country. Employers like UVM, IBM, and Fletcher Allen Health Care have a long employment record in and around Burlinton. There's no reason to believe they'll go anywhere in the time-being, either. If jobs are the key to the economic recovery, and an improved housing market- we're already where we need to be.
  3. Mortgage rates remaining remarkably low. In fact, you can STILL qualify for a low rate of 4.9% for a 30 year fixed rate. This low rate, coupled with the relatively flat but somewhat lower prices than what we have seen in recent years means that homes in Vermont are more affordable than ever. See the link here to a recent Vermont affordable housing study: http://www.burlingtonfreepress.com/article/20110315/NEWS01/103150303/Study-Vermont-housing-more-affordable
Simply put, it's a great time to buy- and there are plenty of great homes to chose from. Contact Brad or begin your home search today!

Dousevicz Real Estate Featured on FOX 44 for the "Real Estate Minute"

Fox 44 Has Paired Up with Dousevicz Real Estate to offer the "Real Estate Minute"

Dousevicz Real Estate is pleased to announce that Brad Dousevicz, Managing Broker, will be featured on FOX 44 for a weekly segment called "The Real Estate Minute." The segment will air every Wednesday during Fox 44's news segment at 7:25 am, 8:25 am, and 10:10 pm.
Each "Real Estate Minute" will explore topics that buyers and sellers alike will need to know to buy or sell a home in the local Vermont real estate marketplace, such as:
  • Steps for the 1st Time Homebuyer
  • Buying New Construction
  • Prepping your home for a quick and profitable sale
  • Buying Green Construction
  • Tipsfor Buying a Condo in Vermont
  • Is it a good time to buy a home in Vermont?
  • Much More!
The "Real Estate Minute" is co-sponsored with Dousevicz Real Estate, the Law Offices of Fred Peet, and Peoples United Bank. Do you have a topic you would like to see covered on the Real Estate Minute, or have a question about local Vermont Real Estate you would like to have answered? Contact Brad today at 802-879-4477, or email him at brad@dousevicz.com!

The Art of Negotiation- Buying a home in Vermont

Successfully Negotiating the Deal Negotiating the transaction is usually the most complex aspect of buying a home. At the same time, it's the one that can involve the most creativity. That's why it's important to have an experienced and savvy REALTOR, like Brad Dousevicz, who has successfully worked through MANYdifferent transactions scenarios. That said, what follows are a few strategies for negotiating a good deal in a market like this one, all of which involve; presenting yourself as a serious buyer while at the same time, keeping your emotions in check; trying to understand and respect the priorities of the seller; being creative and, where necessary, willing to compromise to get the deal done. Strike a balance- Motivated but not too eager For you, as a buyer, it all starts before you even make an offer, the first time you see that home you think might be THEONE. It's important that you not give yourself away to the listing agent by getting too excited about your "Find." If anything, ask a few questions, maybe take a few notes, and let Dousevicz Real Estate do most of the talking. The point is that ideally you're trying to strike a balance by appearing, on the one hand, to be a qualified and motivated buyer, while on the other hand, not appearing to be too eager. You'll demonstrate that you're a serious buyer- the kind sellers look for- at the time you make the offer, particularly if you:
  • Make it clear that you're not dependant upon selling in order to buy
  • Make an all- cash offer or show that you've been pre-approved for a loan
  • Provide an attractive "earnest" deposit with the offer
  • Make a reasonable offer that still gives you rom to negotiate your price
Not only will this approach show that you're qualified and motivated, it will place you in a stronger negotiating position overall. The sellers won't want to lose you and so will be more inclined to reduce their price a little and/or make some concessions with resepect to term. Understand and respect the Seller's priorities If, through the negotiations, you can find out more about the seller's situation and priorities you'll not only improve your position, but you'll also be able to resolve any obstacles more creatively and sensitively. For instance, if a seller is adamant about the sale price they might be more flexible about taking care of a few repairs or part of the transaction costs. Or if they need a certain closing date, you might be able to get them to concede some other terms. There are no "one size fits all" approaches to negotiating. In principle, thought, the more you know about the seller's priorities, the more you'll be able to work with them in order to achieve your own priorities. Look beyond the price While a home's sale price is generally the focus of negotiations, often sellers will have needs such that the terms of purchase can significantly influence the final deal. Additionally, it is in relation to the terms- which can represent thousands of dollars in value- where you can get most creative when it comes to resolving the obstacles to transacting. Here are some elements in the purchase agreement that you might put on the table for discussion:
  • An all cash offer by you
  • The amount of earnest money deposit you provide
  • Closing and Possession dates
  • Inclusion of furniture, fixtures, etc, not considered part of the property (examples; hot tub, pool table, washer and dryer, etc.)
  • Payment of repairs required by your lender
  • Payment of taxes, utilities, and rents
  • Payment of title search and insurance
  • Payment of attorney fees
Along these lines, the key is to get all terms of purchase in writing within the agreement. These terms should then be carefully reviewed and clearly understood by both you and the seller so that you're on the same page and the negotiations move forward. Is it really THEONE? If so, Make it So! If you're really interested in buying the home you're negotiating over- if it really is THEONE- you should be willing to make some compromises to make the deal happen. If that's not the case, then you should listen to your heart and consider looking for another home- it just might be out there waiting for you... That said, here are a few basic principles of successful negotiation to consider if you're committed to completing your purchase:
  • Remember your priorities and respect the sellers- don't let the small thinkgs get in the way of your better judgement.
  • If necessary, defer until "later"- if small issues do get in the way in the midst of big ones, focus on and consolidate your agreement on the big issues and come back to the small ones later.
  • At the end of the day, if there are disagreements about relative small expenses, split the difference and smile.
The reality is that most negotiations that Dousevicz Real Estate has dealt with proceed without much problem. In the event that there are difficulties but you're committed to buying the home, remember; where there's a will, there's a way.

VT Market Activity Report - Downtown Burlington Condominiums, Homes in Essex and Essex Junction

Every time I meet with a buyer or seller of Real Estate in the local Burlington, Vermont area, I start my conversation with a brief snapshot of what is happening in the marketplace. The market isconstantly evolving, and any agent you work with should evaluate the market constantly, whether it be to price your home to sell in the least amount of time or to get the best price for a condo or home you will be purchasing. A down market is perhaps the most important time to do your research! That is why I will explore two major marketplaces today:

  • The Downtown Burlington Condominium marketplace, for the months of August-October, 2010
  • The Single Family home market place of Essex and Essex Junction of August-October, 2010

The Downtown Burlington Condominium Market

Today I will examine the downtown Burlington "Luxury" condominium market for the last few months. Typically, these are the higher priced condos in the $300,000- $1,000,000 range. To be honest, $1M sales only happen in the Burlington downtown condo market 1-2 times per year- there simply is not that great of a supply of such units that come on the market. In fact, the average sales price for condominium in the greater Burlington area for the above mentioned range for both August and Sept were $385,600 and $406,667- respectively. The average number sold for the months were: 4 in August and 3 in September. October is not over, although we have already seen 3 sales in this particular price range. The average days on the market for condos in the greater Burlington area were:

  • 71 for August
  • 120 for September
  • 98 (thus far) for October

When we compare this to the average days on themarket for similar priced homes in other parts of Chittenden County including single family homes in Charlotte, Shelburne, South Burlington, Essex, and Burlingtonpriced at the same levels, we see very similar average days on the market- 76, 116, and 101. This tells us that the Burlington luxury condominium market is performing as well as the rest of similarly priced homes in the area, albeit it is a significantly smaller segment of the market as a whole.

The Single Family Home Market in Essex

The single family home market in the greater Essex marketplace for homes priced from $300,000-$700,000 is similar inquantity of homes sold, days on the market, and average price sold as our segment just explored- the downtown Burlington Condominium Marketplace. For the number of homes sold, Essex had the following activity:

  • August- 4, with an average sales price of $385,600
  • September- 3, with an average sales price of $406,667
  • October- 3 (thus far), with an average sales price of $309,500

Average days on the market for August, September, and October were all averaging less than 110 days. This also tells us that the market in Essex is not a anomoly- it is performing as well as the greater Chittenden County Market, and lines up with even a very different market- the Luxury Burlington Condominium marketplace as well. For more information, or to explore your options, contact Brad Dousevicz at 802-879-4477 today.

Finding Great Views from Vermont Real Estate

Vermont Mountain View Homes

A Spectacular view of the Adirondack Mountains

Hands down, Vermont's most notable resource is it's beautiful landscape. Whether you are driving on a country road in Essex, Shelburne or Charlotte, or visiting a beach on the shore of Lake Champlain in Burlington, Colchester, or South Hero-- it is undoubtedly the views that you first notice. It's one of the many things that makes Vermont special to us all, and we are so very fortunate to have such a landscape to enjoy day in and day out. Buyers frequently contact my office looking for a "piece" of their own landscape - something they can enjoy from perhaps their own front porch, bedroom window, or yard. After all, a house is only as good as the location for which it is placed, and in Vermont, great views can always be related to a great location.

So where are buyers going to find great views of Vermont?

I'll explore some of those areas today.

Downtown Burlington

In addition to being the vibrant epicenter of the State, Burlington offers some of the most fantastic views of Lake Champlain and the Adirondack mountains. As the marketing agent for the recently completed Westlake Condominiums in Downtown Burlington, I constantly met with buyers from all over the world and the feedback was always the same- the views from the building were perhaps the BEST they had EVER seen! Surely, the lake coupled with Burlington's beautiful waterfront park and the neighboring Adirondack Mountains all contribute to this unique view. There are a variety of properties that enjoy such views in downtown Burlington. The first that comes to mind are a few of the luxury condominium projects- Westlake and College and Battery, for example. You can also find views on select homes within the Hill Section as well.

Shelburne and Charlotte

If you are looking for a mix of country living, and perhaps the finest views in the state, then you'll find them in either Shelburne or Charlotte. Located a short drive from downtown Burlington, Shelburne and Charlotte are conveniently located destinations where you can find rolling country landscapes, and perhaps the finest lake front in Vermont along Lake Champlain.

Essex and South Burlington

View of Lake Champlain Vermont

A Spectacular view of the Adirondack Mountains

If you are looking for a property that is located a short distance from Burlington, but with easy accessibility to local shopping and other services, AND want a view, then look in South Burlington and Essex. The main "view corridors" for these areas are easy to find, but they sometimes go unnoticed by the general public looking for real estate with a view. For example, South Burlington has great Lake Front property off Shelburne Road, and wonderful mountain and lake views from Spear and Dorset Streets. Essex is a great country community that has some of the best Mountain views in the State. Try your search for land or homes near the Route 15 Corridor, specifically the areas near Old Stage Road, or Towers Road for example. You will find great views of Mt Mansfield (and easy accessibility to skiing) and a convenient location near local shopping, schools, and restaurants. Vermont is known for it's beautiful landscape, but it is important to know that you can find your own "piece" of the beautiful countryside in many properties throughout the greater Burlington area- you just need to know where to look!