Blog :: 2011
- Low inventory to chose from for rentals. You probably won't find an apartment up to your criteria, location, and quality!
- High rent amounts. Yes, very high. One bedrooms can go for up to $1300, and two bedrooms can go for up to $1700. Wow.
- Inventory- there's plenty of it, even in Chittenden County and towns like Burlington, Colchester, Essex, and South Burlington, both for condo's and homes. Competition is GREAT for homebuyers because it equates to LOWER prices--the oposite relationship to #1 above, HIGHER rents.
- Low Interest Rates. Yes, we've all heard- they are at record levels. Not just record levels people, levels we may NEVER see in our lifetime! 3.9%! Wow...that means your $ goes a loooooong way when you buy a home or condo, and overall affordability raises considerably.
Real estate agents discuss Vt market - WCAX.COM Local Vermont News, Weather and Sports-. A great day at "Day 1" of the Vermont Real Estate Conference in South Burlington, Vermonttoday. Attended two great seminars, and was able to mingle with some local colleagues. Some interesting points were made from the President of NAR, and to the strength of the local real estate market in Burlington, and the surrounding areas of Vermont. See the link above for more details! For help buying or selling real estate in Vermont, contact Brad Dousevicz of Dousevicz Real Estate today!
You've searched far and wide for a new home or condo- evaluated the market, agreed to a purchase price, and have completed all of your inspections. Financing is ready to go, and your closing for your new home in Vermont is scheduled. Well- what actually happens at your closing? On this episode on the "Real Estate Minute" as featured on Fox 44 in Burlington, Vermont, Brad Dousevicz of Dousevicz Real Estate explores what you can expect at the closing. From the transfer of title, financing, and recording of documents, Brad covers it all! See the Video HERE! http://www.youtube.com/watch?v=PjxyUqRRRX0 For help with buying or selling real estate in Burlington, South Burlington, Williston, Essex, Shelburne, Charlotte, Colchester, or any other parts of Chittenden County contact Brad today at 802-238-9367! Happy home hunting!
- understand what does and doesnt need to be repaired,
- prioritize the work you plan to do to your home (and budget or negotiate with the seller accordingly),
- get used to the constant maintenance that is part and parcel of homeownership, and
- understand the importance of having a home warranty plan.
- 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!
In this episode of the "Real Estate Minute" as featured on Fox 44, Brad explores some of the important things to keep in mind when you are buying a home in Vermont for the first time. Tips on how to narrow down your search, obtaining financing with little or no money down, and much more! The homebuying process does not need to be complicated or intimidating. Let Brad and his team help you with the knowledge YOU need to make this important investment! http://www.youtube.com/watch?v=pnhFo4W7GYo With Spring in the air, plenty of great homes on the market in Burlington, South Burlington, Essex, Williston, and the surrounding areas, and record low interest rates, it's a great time to buy! Contact Brad today to explore your options; 802-879-4477. Brad@Dousevicz.com
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.
- a transfer directly to a creditor to secure a debt.
- tansfers to a corporation
- transfer without payment to a spouse, child, or grandparent
- 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.
- 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.
- 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
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