Relocating To VT

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!

 

 

 

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!

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.

Village Haven- Vermont and Chittenden County's Newest GREEN Community

Our Latest Sale- the sought after "Strafford" Design

Dousevicz Real Estate is proud to announce their latest real estate development project in Chittenden County, VT- Village Haven. Conveniently located minutes from Burlington, South Burlington, Williston, and Colchester, Village Haven is situated in the heart of the quaint Village of Essex Junction. Enjoy the ultra convenient location, and non-through street design! Walk to your favorite shops, restaurants, grocery store, and much more. As a unique benefit to those with young families, Village Haven is within WALKING DISTANCE to arguably some of the best school systems in the State of Vermont! All homes at Village Haven will be part of the National Association's Green Building Program, as well as certified with Efficiency Vermont. Dousevicz Real Estate is proud to offer our home buyers GREEN CERTIFIED homes at Village Haven. The benefits don't stop at Green Building and a Great Location! Step inside our model and you will notice the open floorplans, quality construction throughout, and extensive attention to detail. Every home offers a private master bath, a large walk in closet, and plenty of storage space above the garage. An extensive upgrade list is available including- Granite Countertops, Stainless Steel Appliances, 3 Season/ Screen Porches, and much more!

"Our Buyers are realizing they can make their home buying dreams a reality at Village Haven. With prices starting in the mid- $260's, people quickly find they can build their very own newsingle family house for the price of an existing condo at Village Haven, and save money on their maintenance costs because they are Green Certified! You won't find a unique product like this anyplace else in the greater Burlington area of Chittenden County. I guarantee it." - Brad Dousevicz, Dousevicz Real Estate

Homes at Village Haven located in Essex Vermont are selling quickly! Why buy a condo when you can have a single family home for the same price-- and the luxury of your own private yard and quality built Green Construction?

Our Latest Sale- the sought after "Strafford" Design

Contact Brad Dousevicz of Dousevicz Real Estate for more information. 802-879-4477.