It doesn't matter if you are buying your first South Central Vermont home or are a veteran home buyer, you will have list of ‘wants' and ‘needs' for your new South Central Vermont home. The ‘wants' are things that would be nice to have such as a gas fireplace or granite counters. The ‘needs' are things like, well a ‘bathroom' or the number of bedrooms to suit your family. It is rare that you will get all your ‘wants' and needs' in the home you buy.

The key to maximizing your South Central Vermont home investment today is distinguishing between the types of ‘wants' and ‘needs' you're better off buying as part of the property, and those you could add later without too much trouble and expense. Here's some information to help you prioritize the amenities on your list.

Location:

Location is the one thing you can't change about a property. Location is about being in a desirable neighborhood and close to (but not necessarily next to) valued amenities or planned ones -- employment opportunities, good schools, shopping, public transportation, major highways, parks and recreation, cultural activities, etc. A good location is also about not being on a high-traffic street, near noise, next to run-down properties, in a flood plain, etc.

Structural integrity:

Make sure the South Central Vermont home you buy doesn't come with a cracked foundation, pest infestation, drainage issues, mold or other problems that may be difficult and expensive to correct. A home inspection will help you determine if these items are an issue.

Size:

The size of a home is important, especially if you're just starting to raise a family. You don't want to buy a home that is perfect for the two of you, knowing you want children in the next couple of years and making the home you buy too small. 

It's easier and less expensive to reconfigure existing space (turning a basement into a family room or a garage into a bedroom, for example) than to build an addition. And, you can only add that addition if yard size and zoning restrictions allow.

Bathrooms:

It is significantly more cost effective to remodel a bathroom than to add one, so look for a home that has the number of bathrooms you really want.

Bedrooms:

Find a home with at least the minimum number of bedrooms you require, but with space (perhaps an attic or enclosed porch) that could eventually be converted to a bedroom should you need another one in the future.

Cosmetics:

Although a neon pink bathroom might make you cringe, that's exactly the type of problem you can easily and inexpensively correct. You could repaint it yourself for around $50, or hire someone else to do it for a few hundred more.

Other items:

You can change -- or add -- over time without too much effort or cost: carpeting, landscaping, appliances, hardware and fixtures, lighting, countertops, cabinets, upgraded doors, vanities, closet space, siding, windows and lots more.

Buy a South Central Vermont home with "good bones" in a good location. A home you're likely to enjoy living in for many years to come -- improving as you go. When you get ready to sell, you'll have exactly what other buyers are looking for!

Something to consider when selling your home is the Capital Gains ramifications. Will you owe Uncle Sam money after the sale of your South Central Vermont home? Capital Gains are calculated as the difference between what you paid for your property and what you sell it for. Here is how you calculate your Capital Gains. 

Calculating Capital Gains

(+) PURCHASE PRICE - Price paid for property

(+) COST OF PURCHASE - Transfer fees, attorney fees, inspections

(+) COST OF SALE - Repairs, commissions, attorney fees, inspections

(+) COST OF IMPROVEMENT - Room additions, deck, for example, though not replacing existing

(=) ADJUSTED COST BASIS OF YOUR HOME

(-) AMOUNT YOU SELL YOUR HOME

(=) CAPITAL GAIN 

A Special Real Estate Exemption for Capital Gains

Even though the above calculation may indicate you owe Capital Gains, there is a special real estate exemption. Since 1997, up to $250,000 in capital gains ($500,000 for a married couple) on the sale of a South Central Vermont home is exempt from taxation if you meet the following criteria: 

• You have lived in the home as your principal residence for two out of the last five years. 
• You have not sold or exchanged another home during the two years preceding the sale. 

NOTE: As of 2003, you may also qualify for this exemption if you meet what the IRS calls "unforeseen circumstances" such as job loss, divorce, or family medical emergency. 

Learn more about selling your South Central Vermont home by visiting ISellVermontRealEstate.com. 

Search all South Central Vermont homes for sale. 

Always consult a tax attorney regarding current tax laws.

The most important piece of a person's financial life is their credit score. Whether buying a new South Central Vermont home, applying for a job, refinancing, paying off debt, or getting utility service, your credit score will drive the outcome. One would think that Americans are all aware of what the scores are measuring and what factors play a part. But, most Americans do not know enough about the three digit rating or what is involved. Do not let these credit score myths get in your way when preparing for the purchase of your next South Central Vermont home.

Myth: Checking a credit report can either damage or lower your score.
A credit report can be conducted by you or someone like an employer as many times as desired with out having any impact on your credit score. Reviewing your credit report will never change your credit score. Just make sure that reports are retrieved through the bureaus or a legitimate score seller.

Myth: Age, sex, and income are factors that affect your score.
None of this information plays a role in determining your score. A higher income may make it easier to pay off debts, but income and net worth have no impact of credit scores.   

Myth: A credit score can be destroyed by shopping for a loan. When seeking to extend credit, too many inquiries can have a negative impact your credit score. However, when several inquiries are made by the same type of lender with in a 14 day period they only count as one inquiry against your credit.

Myth: Your score can be hurt by credit card offers.
When companies offer you their credit cards it does not have any affect on your score. Unless, your take advantage of all the offers and carelessly use all of the credit available. The number of credit cards a person manages does not matter. The important thing is maintain a low ratio of used to available credit.

Myth: Credit scores of married couples are shared.
A credit score can only belong to one person, just as one person can only have one score. A married could does not share a credit score, but their scores could have an affect each others. When opening a joint account, the information accumulated from that account's activity will be reflected on both people's credit report. If all of the couple's accounts are joint, then their scores will be somewhat similar.

Myth: Closing unused accounts improves credit scores.
Unused accounts most likely contain available credit, which is an important part of a credit score. Closing unused accounts removes available balances from the equation. This causes your ratio of used to available credit to increase, ultimately affecting your credit score.

Myth: Paying off bills is a quick way to boost credit.
Over time, a good record of properly paying bills will improve credit. Credit reports reflect your long term history, scores do not change overnight.

Learn more about how credit scores affect the amount of home you can buy at.

Search all South Central Vermont homes for sale.

Lang McLaughry Spera Rutland Office has moved to a new location.  Please come and visit me at the beautiful new office location:

85 North Main Street, Rutland, Vermont 05701

Phone, Fax  and e-mail stay the same.

In today's rapidly changing economy, many South Central Vermont home owners wonder or worry about selling their home for the best price, and terms in the shortest period of time. 

Here are 9 helpful hints if you are considering selling your South Central Vermont home:

• Be realistic, and price your home right by using market comparisons.
• Know your true bottom line for both price and time.
• As the market shifts, be prepared to evaluate your price.
• Advertising your property with yard signs, local MLS and newspapers.
• Get rid of the clutter! It makes your house appear smaller.
• Clean your walls, floors, baseboards, stove and refrigerator. Buyers will know your house is well cared for.
• Clean up outdoors! Remove tools, toys and be sure lawn and shrubs are neatly trimmed.
• Have the carpets cleaned to eliminate odors, smoke, and pet smells.
• Make minor repairs such as leaky faucets, sticky doors, etc.
• Do a walk-thru with your Realtor before listing your property.

Learn more about selling your South Central Vermont home by visiting ISellVermontRealEstate.com.

What's your South Central Vermont home worth?

New tax code changes create benefits for owners of a South Central Vermont home. For years, many people have usually turned away from considering taking on the financial responsibilities of being a homeowner. Renters and prospective home owners are well aware of all the financial stress that comes with owning a home, which makes them hesitant to make the big step and commitment. What might not be known is that homeowners are receiving more tax benefits now than ever before. The Internal Revenue Services, known as the IRS, has made owning a South Central Vermont home a more favorable option in several ways. 

Monthly house payments bring the biggest tax benefit to home owners. The interest included in the monthly mortgage payments is tax deductible as long as the loan is for less than a million dollars. IRS guidelines also allow deductions for interest on refinancing and home equity loans. However, they do put limits on how much is actually allowed to be deducted. Borrowing against the equity of your South Central Vermont home is an option renters do not have. Renters also do not have the ability to file federal tax deductions on their monthly rental payments. 

Homeowners are also allowed to deduct the points paid in order to purchase their home. If the deductions are itemized, points can be deducted the same year the home is purchased. Every point is equal to 1% of the entire loan amount. When the seller pays certain fees during the purchase, points are also deducted. 

Depending on the state, homeowners who meet specific criteria may qualify for real estate tax exemption. A portion of capital gains may also be deducted. When selling the property, the IRS allows a certain portion of the profit made to be excluded. Single taxpayers are allowed to exclude up to $250,000 in capital gains, and $500,000 for married couples. 

In 2007, the government added more to the miscellaneous tax credits receivable by homeowners. For example, the Energy Credit allows homeowners to receive $200 for home improvements that make the property more energy efficient. 

There are many benefits to owning a South Central Vermont home. Renters and hesitant prospective homeowners should take advantage of the tax breaks that are now available.

Learn more about owning a South Central Vermont home.

Selling your South Central Vermont home should be a smooth profitable transaction. But it could end up being an unsuccessful, draining experience, especially if the appropriate precautions and preparations are not observed. A majority of the time, the chance for success lies within the hands of the hired real estate expert. In order to guarantee optimal results, the sellers must be willing to cooperate and consider the professional advice of their real estate agent. Agonizing over a listing price, making the property presentable, rushing for last minute showings, answering inconvenient calls, and frazzling thoughts of not being able to sell are all stressful components of selling your South Central Vermont home. If you and your South Central Vermont home are not properly prepared there is a great risk of losing thousands of dollars in an unsuccessful transaction. Included in the following section are five of the most common, costly mistakes homeowners can easily avoid when selling their South Central Vermont home. 

Do not believe all real estate professionals are the same, choose wisely

The process of selling your home involves many tedious details and critical decisions. Real estate professionals are experts in handling these situations and offering knowledgeable guidance to sellers. It is crucial to research several professionals in order to find a suitable match with experience selling homes similar to yours. Real estate agents use different methods to sell their listings. Innovative professionals who promote listings with newer techniques to attract buyers are always more successful than professionals relying on traditional strategies. 24-7 advertising, excessive exposure and lead generation are important services agents offer to aid in selling your home. Hiring and utilizing the right real estate professional can significantly maximize the chances for a smooth, profitable transaction. 

Effects of ignoring cosmetic upkeep

The potential buyer's first impression of your South Central Vermont home is crucial. Dirty dishes piled in the sink, unkempt lawns, cluttered rooms, stained carpets, scattered soiled laundry, and disgusting odors may seem like little things, but they are big turn-offs to prospective buyers. Ignoring cosmetic upkeep leads to loosing home sales. It also never hurts to hire a staging company to assist in making the home more appealing to buyers. 

Refusing to make repairs

Another major cause in loosing home sales is the seller's refusal to make necessary repairs. In the long run, it is not beneficial to sell "as is". Instead, making needed repairs or improvements will increase the home's value. A real estate agent can decide what repairs will boost the home's value. 

Picking a price that is not too high or too low

When properties get priced too high they tend to sit on the market and eventually develop a label of a problem property. When priced too low a home could fly off the market, allowing the buyer to get a great deal and the seller with lost potential profits. Listing the home at the appropriate price could make or break a successful sale. Real estate professionals use their market knowledge and special tactics to appropriately price the property and ensure a timely and profitable sale.

Making things convenient for prospective buyers

Providing easy access to the property for showings is the key to finding the right buyer. Appointment-only showings take away from the buyer's convenience because a specific time has to be set to fit the schedules of multiple people. Using a lock box is the best way to provide easy access for showings. You are less likely to miss out on a sale when buyers are never denied a chance to view the property. 

Learn more about how to successfully sell your South Central Vermont home by visiting ISellVermontRealEstate.com.

What's your South Central Vermont home worth?

 Total Value Here - Ground Floor - 1 Bedroom condo on the Okemo Shuttle Bus Route. Minutes from Okemo - Gas Fireplace, washer/dryer in unit, A/C and heat. Granite counters, tiled and wood floors, Whirlpool bath.  Indoor Pool, Hot Tub and Exercise Room. Priced below town assesment at $99,900.00.

The number of people experiencing their South Central Vermont home entering foreclosure is steadily increasing. Also increasing, is the number of bargains just waiting for home buyers to make a move. In RealtyTrac's April 2009 U.S. Foreclosure Market Report^TM they found that default notices, auction sale notices and bank repossessions were reported on

342,038 properties during the month of April alone. The increasing numbers have contributed to the thirty two percent increase since last year's April 2008 report. The report also showed one in every three hundred and seventy four homes received a foreclosure filing in April. These statistics prove foreclosure to be a growing threat to home owners. On the other hand, the foreclosure situation is benefiting people looking to purchase real estate in this buyer's market.

The amount of foreclosure properties on the market opens the door to opportunity for buyers. One way for buyers to take advantage of the opportunity to purchase a foreclosed South Central Vermont  home is through an auction. It is important for people, especially first timers, to become educated on how to buy a home at a foreclosure auction. The first place to start would be to look up general information about the process on the internet. Then, it might be a good idea to contact a real estate agent or real estate attorney for professional help and advising. Auctions can be organized in public places or held at local courthouses. It is best to avoid auctions held at courthouses because professional investors are common competitors and there is not much, if any, time to research the physical condition and financial background of the property being auctioned. Instead, find foreclosure auction notices in the local newspaper, online, or by contacting a city official for upcoming auction dates. It is important for buyers to research the property before deciding if they will bid on it. Prior to determining your bid gather some important information about to property such as, the estimated market value, outstanding loan balances, property liens, ownership history, title information, and calculate possible monthly expenses as the future homeowner. Once a little research is done on the property, enough knowledge will be available to determine the appropriate bid.  Thoroughly looking farther in to the property can maximize your chances of getting a good bargain. 

There are also other options for foreclosure buyers to consider. Today, most foreclosure properties have large or multiple mortgages. This takes away from the likelihood of getting a bargain at an auction because banks will ask for bids that are more than the actual value of the property. The first alternative is to buy the property before it goes to auction, which is called a pre-foreclosure. To do this check the city records to find foreclosure properties. Then, contact the owners by writing a letter of interest. Follow up with a phone call and hope they are willing to accept an offer. Another route is to wait to see if the property sells at the auction. If the property does not see it will be put on the market by the bank it is owned by. In this case you will be able to buy the house just like it was regular real estate. Another benefit to this option is the ability to conduct a home inspection and get a mortgage. Remember, when considering the purchase of a  South Central Vermont home through an auction make sure plenty of research is done to maximize the potential of getting a good deal. Also keep in mind that if the odds are not looking good for the auction there are always other paths to take. 

Learn more about South Central Vermont homes for sale.

Finding ways to deal with small spaces in your new South Central Vermont home can be tricky. Everyone likes the place they call home to be somewhere they can kick back and relax. However, it is hard to relax in areas that are cluttered and uncomfortable. Strategic interior design can make a big difference when dealing with small living spaces. Colors, lighting, organization, and décor can make spaces appear smaller or larger. Here are some solutions to make your South Central Vermont home look and feel cozier. 

Organization is the first thing to be conquered when transforming a small living space. Getting rid of clutter and maximizing the use of storage space are the keys to success. Clutter will make any space appear smaller than it really is. Eliminating excessive knick-knacks is one way to reduce clutter. Multiple pieces of small, scattered furniture can also make a room look jumbled. Using a couple pieces of slightly larger furniture leads to a less cluttered look. Every inch of storage space should be taken advantage of in small living areas. Planning out storage space will allow for more walking room, functional closets, and more productive space. Use multipurpose furniture like ottomans, which can be used for storage and seating. Try installing an organizational system in the closets. These systems usually provide a perfect spot for everything. 

Colors, lighting, and decorations also affect the appearance of your South Central Vermont home. Colors play a big role in creating illusions of size. The color scheme of small living spaces should consist of light hues. Although white can be a boring color, it will ultimately maximize the illusion of a bigger space. Other colors that tend to open up space include beige, neutrals, and pastels. It is important to avoid contrasting colors. The furniture, especially larger pieces like the couch, should be in the same color family to match the color of the walls. 

Lighting makes a big difference in small spaces. Take advantage of as much natural light as possible by avoiding heavy curtains and window treatments. Although natural lighting is always the most ideal, it isn't always available. Track and recessed lighting work well as alternatives for lighting up the space. 

Décor should not take over small spaces. Using medium sized pieces of furniture can do a lot for small rooms versus one big piece or a bunch of cluttered small pieces. Mirrors compliment small spaces perfectly. Mirrors reflect light and color, creating the illusion of more space. Mirrors can be found in all shapes and sizes, with and with out frames. One large mirror or several small mirrors collaged on a wall can make a big difference in a small living area. There are tons of solutions to make a small area more livable.