Meet the newest member of our team, Kurt Wright of Burlington VT
It is with great pleasure, to announce that Kurt Wright has joined our team at CENTURY 21 Advantage. Because he has lived in the New North End of Burlington for over 25 years, he knows the area well. He has been a Burlington City Councilor and a State Legislator; he has had the opportunity to walk on every street and knock on every door out there, giving him a unique understanding of all of our neighborhoods.
Now, as a Real Estate agent with Century 21 Advantage, this knowledge of our neighborhoods will be incredibly valuable. The Real Estate market is very strong in the Chittenden and surrounding counties, with a great demand for housing. With our quality of life, people are very interested in buying/selling property and living here.
Who do you know that is looking to buy or sell Vermont Real Estate?
Kurt has a great reputation and being able to get the job done. His goal will be to make buying or selling property as pleasant and easy an experience as possible and his knowledge of the New North End will help expedite that process. Call or email Kurt with anyone you may know and he will help make their real estate dreams come true.
The Vermont real estate market is beating the national average for home sales by a large margin. Our local economy is proving that real estate is still a good investment with Chittenden County sales 17% ahead of last years year-to-date numbers. The national average is only 8%. Our local business is up 21% so we are beating the market.For more on this story, watch WPTZ Channel 5's recent interview with Brian French, President/Owner of CENTURY 21 Advantage.
If you would like your home sold, contact us today.
In a recent article published by Fox News the real estate report was all positive. According to their sources,nationally for the year, real estate sales are up by 3.3%. Comparing last year's April to this year shows a robust positive closing number to be up 9.9%. Additionally, the median sales price nationally in April was up 4.9% and Sales in the Northeast rose 7.7% to the highest level in a year. With interest rates as low as they are, many people are taking advantage and reducing the cost of home ownership.
Vermont Housing Market Holding Strong
According to a recent report from the Northwestern Board of Realtors,closed sales were up in Aril 7.1% from a year ago in our area. Additionally, new listings were down 9.9% and pending sales were up 37.6%. With the increased activity, came a decrease in the median sales price by 6.6% and the average days on market was 117 days which is down by over 6% as well. All in all, things are looking up in for theVermont real estate market.
Register for E-mail updates and view listings that have sold in your town. Contact us with any questions whether you are buying or selling.
CENTURY 21 Advantage in South Burlington is pleased to welcome Michael Allen to its team. He has been in the real estate business for several years. Michaels dedication to customer service in doing the right thing is evident in everything he does. He will provide you with the most up-to-date expertise, resources and technology available through CENTURY 21 Advantage.
New Construction Condominiums in Vermont - A Good Choice
With the interest rates down and the economy slowly heading in the right direction we have seen an increased interest in new construction for homebuyers. Unlike years ago, when it was difficult to find new affordable new construction opportunities, there are a number of them today. If you are starting out, or are looking to downsize as you become empty nesters,browse some of our inventory for new constructionhomes for sale in Vermont.One might make its way from on your list of things to see, to your list of things to own!
Georgia VT Condo New Construction - Model Now Open!
Property Shown isa new construction located at 196B Ledgewood Lane in GeorgiaVT.Incredibly affordable new townhouse development nestled in the woods of Georgia, Vermont! For listing details anddocuments, click here.
Mortgage Rates To Remain Low
According to a recent article, the Federal Reserve has expressed their plan to keep interest rates low through 2014. What that will mean to people buying homes in theBurlington, Vermont area is that homes will continue to be more affordable. Over the lifetime of a loan, with a 4% interest rate, compared to one that is at 6%, can be a difference of $50,000 over the life of the loan. Additionally, monthly payments at these lower rates can save people hundreds of dollars each month in payments. With that said, it is a great time to buy a home when you can reduce your cash out lay so dramatically.Get started onyour Vermont Real Estate home search.
According to the Freddie Mac Primary Mortgage Market Survey, average fixed mortgage rates have held steady in recent weeks. For five weeks in a row, average rates on 30-year fixed-rate mortgages haven't increased over the 4 percent mark. At the same time last year, the average rate on 30-year FRMs averaged 4.46. While the 15-year FRMs held steady at an average of 3.3 percent from the week before, rates are down an average of 0.51 percent from the same time last year. Adjustable-rate mortgages, meanwhile, have also fallen to record lows.
Good News for Home Buyers
The loss of percentage points is good news for home buyers. Due to these low mortgage rates, home affordability has never been higher. And it seems as if home buyers and homeowners looking to refinance are taking advantage of this opportunity. Data from the Mortgage Bankers Association's Weekly Mortgage Applications Survey shows that for the week starting November 28, mortgage applications were up 12.8 percent from the previous week.
An Increase in Consumer Confidence
The Conference Board Consumer Confidence Index improved from October to Novemberjumping from 40.9 to 56.0 percent in the span of a month. A decrease in mortgage rates and an increase in consumer confidence may help explain the recent report from the National Association of Realtors, which shows a sharp increase in pending home sales, from 84.5 percent in September to 93.3 percent in October.
Higher FHA Loan Limits
Buyers looking for a home in one of the country's high-priced housing markets just caught a break. The recent passing of a bill reinstated the former limit of $729,750 for Federal Housing Administration-backed mortgages in high-priced areas, effectively canceling the October imposition of a $625,500 ceiling. Unfortunately, Fannie Mae and Freddie Mac backed loans won't see an increase in line with the FHA.
The rise in mortgage applications and pending home sales means many people are taking advantage of these record-low mortgage rates. If mortgage rates remain at record lows, more Americans should regain their confidence in the real estate market.
Read on for information on affordability and to estimate monthly mortgage payments. Sign up for our monthly e-newsletter!
Vermont Real Estate November 2011 Market Statistics Released
According to the Northwestern Board of Realtors, there are some interesting market statistics which imply that the market is slowly starting to turn around. Currently the inventory level is down to levels not seen since 2007. If that is the case, that may start stabilizing the prices in our area. With price stabilization comes confidence, and with confidence comes a healthier market. We are encouraged to see that year-to-date closed sales are up compared to last year at this time.
Vermont real estate Inventory levels dropping.
The information is derived from data contained in the Northern New England Real Estate Network and covers Chittenden, Franklin and Grand Isle Counties.New listings increased 10.2 percent in the three counties, while inventory declined 13.8 percent and has returned to 2007 levels. Pending sales and closed sales were also down in the month-to-month comparison, but continue to be up year over year to date, 2.8 and 3.4 percent respectively.
Inventory declines were significant and could hint at a changing market in early 2012, said Kathleen Sweeten, executive vice president of the Northwestern Vermont Board of REALTORS. Interest rates hovering at historical lows and a declining inventory are indicators of a healthy market to come, barring any unanticipated shocks.
Chittenden County Real Estate Prices down 6.9%
While home prices are the most popular barometer of the real estate market, many factors play into the month-to-month data. These include purchase demand, market times, absorption rates, and the mix of homes in the market at any given time.
In Franklin County, the median home price was down 10.8 percent to $182,900.
Grand Isle County showed the largest increase in median sales price of $254,000, jumping 31.1 percent over last year at this time.
The Northwestern Vermont Board of REALTORS (NVBR) is the Voice for Real Estate, in northwestern Vermont representing over 600 members involved in all aspects of the residential and commercial real estate industries.
Start your MLS listing search and sign up forlisting updates!
Source: North Western Vermont Board of Realtors
United Health Foundation has Vermont number one for the third year in a row
Vermont is again ranked the Healthiest State in the Country. It doesn't surprise me that Vermont, once again, captures attention for its healthy environment. As a native Vermonter, I can attest to all the positive healthy attributes one might find living in Vermont. We are an active bunch and hold high standards forourselves and our children sometimes more thanother areas. Read this article and you will find out how we won such wonderful recognition for the third year in a row. Read the article, but don't eat the chips.
Read more about the findings of how Vermontranked number one according to theUnited Health Foundation.
Are you, or someone you know, upside down on your mortgage?
During these tough economic times more and more people are finding it difficult to continue making mortgage payments on their homes. With that said, with the downturn in the economy, many of their homes are no longer worth what they paid for them which makes it incredibly difficult to know what to do. The following article gives some helpful tips when you are upside down in your mortgage.
We are Short Sales Specialist Realors for South BurlingtonVTReal Estateand surrounding areas. Please call or emailand would be more than happy to answer any questions you have.
It's that time again in Vermont, when the leaves are falling and the temperature is perfect. If you're a Vermont home owner however, you know not to get too comfortable as the Winter is not far away. This means starting to think and plan for winterizing your home.
An article just published by the Burlington Free Press, called Winterize: Start preparing home for winterprovides some great tips on how to do it!
Recently, we received a report that mortgage rates in general were hovering around the 4 % mark for 30-year loans and that VHFA, a first-time home buyer program, had reached a new low of 3.5 %; making home ownership even more affordable. If you would like some help in determining your options, please contact us or browse listings in Chittenden County VT that may qualify for the VHFA loan.
"Shawn Kelley is competent, a straight forward agent that can be trusted by all parties involved in the transaction. Shawn went above and beyond his obligations as listing agent. Mine was a very difficult home to sell, not only due to the current market, but we had very unusual circumstance. He availed himself to attend court hearings and testify twice, lent me a vehicle to make quickly moving out easier." - Laurie Brown of HinesburgContact Shawn today if you are thinking about buying, selling, or simply need real estate advise or begin your own search online.
Accor ding to a recent article in the National Publication Rismedia, existing home sales in March were up 3.7 % nationwide. With that said, according to our Local Multiple Listing Service, home closings for the State of Vermont in the first quarter were down 28.31 % from the first quarter of last year.But the good news is that the average days on market dropped a bit to 129 days. For our Company comparing last years first quarter to this year we are ahead by 29.41%. Thus we are outperforming the state's real estate average by 100%. We are excited about the opportunities provided to us and our wonderful referral network that we have from our customers and clients. In this economy, hard work will determine who makes it and who doesn't. Contact usif you would like to benefit from our 30 years of experience.
CENTURY 21 Advantage in South Burlington, VT welcomes Kayla Battishill to its team! Kaylas dedication to customer service in doing the right thing is evident in everything she does. As part of the CENTURY System, Kayla will provide you with the expertise, resources and technology of the #1 real estate sales whether buying or selling. For all your real estate needs, contact Kayla today.
Today's market may be changing for first-time home buyers.
There seems to be some new guidelines to follow and financing has become much more difficult for those parties putting less money down to purchase. We have seen the financing piece become difficult not only for first-time home buyers but the move-up buyer as well. A recent article on Yahoo Finance talks about new rules that are making it more difficult to obtain financing. New Rules for First-Time Home Buyers.
Financial Future for Home Buyers
We have seen the financing piece become difficult not only for first-time home buyers but the move up buyer as well. Banks and mortgage companies have changed the game and are no longer offering unrealistic deals for buyers. It is back to the basics almost to the point that it seems like they are being too conservative with their guidelines in some instances.
If you are a first-time buyer and would like to discuss your home buying options, contact us with your questions and we'll be happy to walk you through a stress-free buying process.
March is finally here and we are anticipating a brisk real estate market this spring.
The activity is already ahead of last year's numbers and we are optimistic about the future. This past February we set a record for the amount of snow fall ever at 43 inches. Not to mention the 3rd largest snowfall on record from the storm on Monday!! Considering that and the amount of cold weather that accompanied it, we did pretty well.
The Current VT Investment Market
Right now we are working with a number of investors that feel that the real estate market still is the place to put their money with the relatively low interest rates for investment property. Interestingly enough, the supply currently is quite low for that type of property and the sellers are the ones holding the cards again for that type of property in our area.
Good Times for Investors
What may be unfortunate news for renters in Burlington, is great news for investors. Rents are of the highest in the nation but property prices are still quite reasonable. We have several clients from the West Coast where property prices are so much higher than here in the East, but rent is just as high. Take for example, this investors dream, this multi-family real estate in Burlingtonlocated at 110 North Union Street.
Real estate inventory is down in Vermont. According to recent statistics from the Northern New England Real Estate Network, residential listings for the state of Vermont in 2010 for January were at 19,627. In January of this year the number had declined to 16,383. That is a decrease of 16.5%. This could mean a number of things, but one thing in my mind is that if you are thinking of selling your home, there may be less competition this year than there was last year. If you had a home in the 250k to 300k range in 2010 there were 2648 homes on the market in January. This year for the same price range and month there are only 2193 active listings in that range. Again, less inventory can help you sell your home if you are in the market to do so.
According to the latest statistics from the Northern New Enlgand Real Estate Network, the five-year residential median average price history for VT condos for sale have seen a decrease in value just like homes. Taking a look at the numbers from 2007, the average list price for a condo for sale was $217,788 and the average sales price was $211,002. Fast forward the results to 2010, and we see that the average List price for a condo was $195,214 and the average sales price was $185,373. This represents a 12% decrease in sales price over that period of time. In the scheme of things, this loss is substantially less than what we are seeing across the country. Interested in finding out the value of your property, click here.
Vermont Real Estate Prices downward trend in the last 3 years in Vermont - According to the latest information pulled from the Northern New England Real Estate Network, there has been a decline in median prices of homes in the State of Vermont since 2007.
In 2007, the average list price of a home was $310,991 and the average sales price was $297,270 in the state at that time. In 2008, those averages declined to $289,322 list price to an average sales price of $273, 948. If we fast forward to this past year, we are showing an average list price for the state of $267,717 to an average sales price of $252,156.
All in all, our prices have been affected by the recession and Vermonters have felt the pain of the economy on the sales of their homes like many across the country; although not as bad as some of the other states. The good news is that the local Vermont real estate economy seems to be doing better than most of the other parts of the state and we are encouraged about the future. If you would like to know the value of your home, please let us know. Begin your Vermont MLS home search now.