Teresa's Blog

Stowe Vermont Home for Sale - Motivated Sellers!

Teresa Merelman, ABR, CRS, e-PRO, RSPS, GREEN (Stowe Realty) — Tue, 01 Dec 2009 16:29:24 -0600

Stowe Vermont Home For Sale - Very Motivated Sellers!

From time to time, a truly great buy comes along. This 2008 home has many features including 5 bedrooms each with a private bath, radiant heat, cinema room, attached two car heated garage, and an easy to care for .5 acre lot. This home also features central air conditioning (not common in Vermont), an open floor plan, and outstanding finish detail. It is located in Stowe, Vermont on the South side in an area fondly named "Moscow". This makes it ideal for commuting to Waterbury, Montpelier or Burlington. Of course, the Stowe Mountain Ski Resort is only about 15 minutes away. It also includes a silo apartment which was added in 2009.

The owners are including 6 tv's in the sale at the list price of $895,000. At a price of $1,050,000, the property can bought totally furnished. All furnishings are new in 2009.

Link to the MLS Data Sheet - includes more photos, Visual Tour, and additional information.

This home is a Stowe Realty listing. If you have interest in this Great Buy, contact me at (802) 793-5171 or e-mail me at Teresa@StoweUSA.com

Enjoy the Front Porch

Moscow Area Views

Here's a link to other Stowe, Vermont Homes for Sale priced between $500,000 and $1,700,000.

Teresa Merelman, Broker
ABR, CRS, e-PRO, GREEN, RSPS
Stowe Realty, a BCK Real Estate Co.
P.O. Box 1348, Stowe, VT 05672
(802) 253-8484 x23 - Office
(800) 639-1812 x23 - Toll Free
(802) 793-5171 - Cell
Teresa@StoweUSA.com
www.StoweUSA.com

Waterbury Vermont - Auction Property - Bed and Breakfast

Teresa Merelman, ABR, CRS, e-PRO, RSPS, GREEN (Stowe Realty) — Tue, 24 Nov 2009 12:42:10 -0600

Waterbury Vermont - Auction Property - Bed and Breakfast - DATE December 11, 2009

Another local property is up for auction. The photo below was supplied by Thomas Hirchak Company. For more information about this B&B, click on the photo.

There are other properties in Waterbury that may be of interest you. Below are Links to them:

Waterbury Vermont Homes for Sale

Waterbury Vermont Condos for Sale

Waterbury Vermont Land for Sale

Waterbury Vermont Commercial Properties for Sale

OR, maybe you want to know about Bed and Breakfast Properties for sale in the area:

Bed and Breakfast Properties in Lamoille and Washington Counties, Vermont

Let me know if I can assist you with properties in the Waterbury and Stowe, Vermont area!

Stowe Mountain Resort - Opening Day November ?, 2009 - DELAYED

Teresa Merelman, ABR, CRS, e-PRO, RSPS, GREEN (Stowe Realty) — Mon, 23 Nov 2009 18:40:43 -0600

Stowe Mountain Resort - Opening Day November 21, 2009 - Did not happen

Mother Nature did not cooperate for Stowe's Opening Day. The Mountain now hopes to open around Thanksgiving.

For up a quick source of "SNOW CONDITIONS", click here

Stowe, Vermont - Stowe Mountain Resort just announced that it will open on Saturday, November 21st, 2009. The resort has lots of snow making capacity, so hopefully there will be a good selection of trails to ski. Maybe Mother Nature will cooperate too!

To access the Resort Web Site, click on the logo to the right:

The Stowe Resort Web Site has added an interactive map:

If you aren't into skiing or snowboarding, there are plenty other activities. Stowe is famous for her restaraunts, shops, inns and New England Charm. Check out Stowe Area Association's web site below:

If you are interested in real estate at the Stowe Mountain Resort, check out current listings below:

MLS Spruce Peak Cabins for Sale - Stowe, Vermont
Located on Spruce Peak

MLS Stowe Mountain Resort Lodge Condos for Sale - Stowe, Vermont
Located at the Base of Spruce Peak
Please note that some of these properties are Fractional Ownership

MLS Mount Mansfield Townhomes for Sale - Stowe, Vermont
Located close to the Toll House Lift

MLS The Lodge Condos for Sale - Stowe, Vermont
Located close to the Toll House Lift

Give me a call at (802) 793-5171 if you'd like to see any of these resort properties or other homes in the Stowe, Vermont area.

Alright, what's the Deal with Flu Shots?

Teresa Merelman, ABR, CRS, e-PRO, RSPS, GREEN (Stowe Realty) — Tue, 17 Nov 2009 21:25:38 -0600

Alright, what's the Deal with Flu Shots?

I found out today that not only can I not get the H1N1 shot, I can't even get the Seasonal flu shot! I already knew that I did not qualify for the H1N1 because I am a healthy adult aged between 25 and 64 without health issues. Normally, I think this a good thing. Apparently, there is not only a shortage of the H1N1 vaccine but also a shortage of the seasonal flu shot in Vermont. Feeling defeated, I decided to do some research on the web to figure out what is going on. Then I decided to try and put everything in one place - thus my Active Rain blog.

H1N1 - per Centers for Disease Contral and Prevention

Who should Get It?
Pregnant women
People who live with or care for infants younger than 6 months of age
Health care and emergency medical personnel
Anyone from 6 months through 24 years of age
Anyone from 25 through 64 years of age with certain chronic medical conditions or a weakened immune system.
As more vaccine becomes available, these groups should also be vaccinated:
Healthy 25 through 64 year olds
Adults 65 years and older
Link to the 2009 H1N1 Influenza Vaccine Information Document - Dept. of Health and Human Services.

Below is a great Chart by the South Dakota Dept. of Health:

Where do you Get It?

The answer is not easy because sometimes clinics are posted but they may be by appointment only or they may run out of vaccines. In Vermont, the Vermont Department of Health has posted a list of clinics searchable by geographic location. Click on the image below to go to their web site:

How do you deal with H1N1?

Where is the H1N1 virus Geographically? I found this great map that appears to be kept up on a somewhat regular basis.

The last piece of information I needed to complete for this source of data was a Chart showing the differences between a COLD, the SEASONAL FLU and the H1N1 FLU. Many say that there are not many differences between the seasonal flu and H1N1 flu, but this chart may help one trying to decide which illness they have. Of course, a Doctor is the best resource!

Even though I can't receive any flu shots, I learned a lot. Maybe you did too!

So, stay healthy!

Stowe Vermont Area Foreclosures - Homes - Updated 11/17/09

Teresa Merelman, ABR, CRS, e-PRO, RSPS, GREEN (Stowe Realty) — Tue, 17 Nov 2009 12:43:11 -0600

FORECLOSURES or BANK OWNED PROPERTIES - Stowe, Vermont Area - Updated 11/17/09

Vermont does not have many bank owned real estate properties. However, I feel that the number has increased and will continue to increase in the next few years. Our MLS system does not allow for a simple search of such properties, but I am able to create specialized searches for bank owned real estate. The searches do not automatically update, but I will do my best to keep it current.

Buying a foreclosure, or short-sale property can be very complicated. I have been a licensed Realtor® in Stowe since 1998. I am currently studying and taking classes to obtain the National Association of Realtors® Short Sale and Foreclosure Certification, and I am an Accredited Buyer Representative. So be sure to hire a REALTOR® that is experienced, trained and can represent you as buyer. I can represent you on these properties and all other area properties as long as they are not listed by Stowe Realty. Please contact me for more information about these properties or other ones you are interested in. Hire an experienced Accredited Buyers Representative!

BANK OWNED REAL ESTATE:

Stowe Vermont Foreclosures - updated 11/17/09 - 2 Listings

Eden Vermont Foreclosures - updated 11/17/09 - 2 Listings

Morristown Vermont Foreclosures - updated 11/17/09 - 0 Listings

Hyde Park Vermont Foreclosures - updated 11/17/09 - 0 Listings

Johnson Vermont Foreclosures - updated 11/17/09 - 1 Listing

Wolcott Vermont Foreclosures - updated 11/17/09 - 1 Listing

Homebuyer Tax Credit - Vermont First-Time and Repeat Buyers

Teresa Merelman, ABR, CRS, e-PRO, RSPS, GREEN (Stowe Realty) — Sun, 15 Nov 2009 20:49:11 -0600

HOMEBUYER TAX CREDIT - First Time and Repeat Homebuyers

On November 9, 2009, President Barack Obama approved the first-time homebuyer tax credit extension. The extension is part of a $24 billion economic stimulus bill that extends the $8,000 tax credit for new homebuyers and expands the program to offer a credit of $6,500 to homeowners who have lived in their current home for at least 5 years and are seeking to relocate to a new home.

FIRST TIME HOME BUYER TAX CREDIT:

Who is Eligible? - First-time homebuyers - people who have not owned a home within the last 3 years - may be eligible. The credit is 10% of the purchase price of the home with a maximum available credit of $8,000.
All U.S. citizens who file taxes are eligible to participate.

Income Limits:
Single or Head-of-Household may claim the full credit if their modified adjusted gross income is less than $125,000.
Married couple filing a joint return - the combined income limit is $225,000.
Single or head-of-household taxpayers who earn between $125,000 and $145,000, and married couple who earn between $225,000 and $245,000 are eligible to receive a partial credit.
Single taxpayers whose modified adjusted gross income is greater than $145,000 and married couple with gross imcome greater that $245,000 are not eligible for the credit.

Types of Homes that Qualify:
All homes with a purchase price of less than $800,000 qualify - including newly constructed or resale, and single-family homes, townhomes or condominiums. The home must be used as a Principal Residence. Vacation home and rental properties do not qualify.

Effective Dates:
The homes must be purchased after November 6, 2009 and before May 1, 2010. Home purchases subject to a sales contract signed by April 20, 2010 will also qualify provided the closing occurs before July 1, 2010.

Tax Credit:
The tax credit is a direct reduction of tax liability owed to the IRS. If no taxes are owed, the IRS will isue a check in the amount of the tax credit. The credit does not require repayment unless the home, at any time in the first 3 years of ownership, is no longer the individual's primary residence.

EXISTING HOMEOWNERS

Existing homeowners who have been residing their principal residence for 5 consecutive years out of the last eight are eligible. They must purchase a home to be their principal residence. They may be eligble for up to a $6,5000 tax credit.
The Income Limits are the same as the First Time Home Buyer.
The home purchased must also be less than $800,000. The home purchase does not have to be priced higher that the home sold.

RESTRICTIONS:

A credit will not be due if:
- The home is purchased from a close relative (spouse, parent, child, etc.)
- The home is not used as principal residence.
- The Purchaser is a nonresident alien.

New Anti-Fraud Rule - In an effort to prevent Faud - the purchaser must attach documentation of purchase to the tax return.

Additional Information:

There is a wealth of information out on the internet. I have come up with the following sites that appear to offer legitimate information about the Tax Credit. Be certain to check with your tax attorney or accountant for additional details about the program and your ability to qualify within the specific timelines, purchase price, and income qualifications.

NAR - Chart RE: Homebuyer Tax Credit

NAR - Frequently Asked Questions

IRS - Homebuyer Tax Credit Information

National Associaiton of Home Builders - Tax Credit Information

Whether you are looking to buy or sell a home, call me at (802) 793-5171 or e-mail at Teresa@StoweUSA.com

MLS Search for Homes in Stowe Vermont under $800,000

MLS Search for Condos in Stowe Vermont under $800,000

MLS Search for Homes in Waterbury Vermont under $800,000

MLS Search for Homes in Morristown Vermont under $800,000

MLS Search for Homes in Hyde Park Vermont under $800,000

MLS Search for Homes in Johnson Vermont under $800,000

MLS Search for Homes in Elmore Vermont under $800,000

MLS Search for Homes in Wolcott Vermont under $800,000

Energy Saving Ideas - Vermont Home Owners

Teresa Merelman, ABR, CRS, e-PRO, RSPS, GREEN (Stowe Realty) — Fri, 13 Nov 2009 13:42:10 -0600

Energy Saving Ideas - Vermont Home Owners

Winter is coming to Vermont. Of course, this is generally good news for Vermonters. However, with Winter comes heating bills.

Below are some tips that may help you to reduce your fuel bills. Hope you find them useful!

8 Easy Ways to Seal Air Leaks Around the House

For what the typical family wastes every year on air leaks—about $350—you can plug energy-robbing gaps, start saving money, and enjoy a more comfortable home. Read
Save Money With an Insulation Upgrade

Beefing up inadequate insulation is one of the quickest energy-payback projects you can do, resulting in lower heating and cooling bills and increased comfort. Read
7 Ways to Save on Lighting Costs

Lighting eats up as much as 20% of your annual electric bill, but using energy-efficient bulbs and making other simple changes can cut lighting costs dramatically. Read
Water Heaters: 5 Tips to Save Energy

Water heating accounts for up to 25% of household energy costs, but there are inexpensive things you can do to increase efficiency and reduce energy bills. Read
Low-Flow Showerheads: How to Choose

Thanks to innovative new technology, today’s super-efficient low-flow showerheads save water, reduce your energy bills, and still feel good to use. Read

Visit houselogic.com for more articles like this.

Know Your Forms - New RESPA Closing Documents On The Way!!!

Teresa Merelman, ABR, CRS, e-PRO, RSPS, GREEN (Stowe Realty) — Wed, 04 Nov 2009 10:15:22 -0600

RESPA FORMS - New HUD-1 and GFE (Good Faith Estimate) will become effective January 1, 2010. This is an effort to simply the loan process, improve the GFE and HUD-1 Forms and create greater transparency. It is important for Sellers, Buyers, Lawyers and Realtors to be aware of the changes.

Below is a Re-Blog of a post written by Gary Woltal of Keller Williams, Texas. I found it to be well written and to the point. Links to the new forms are also included. Thanks Gary!

Via Gary Woltal - Associate Broker REALTOR® Dallas Ft. Worth (Keller Williams Realty):

Come January 1st, 2010, as a REALTOR or a consumer at the closing table things are about to change as far as the Good Faith Estimate (GFE) and Settlement Statement (HUD-1). Links below will allow you to print these out to familiarize yourself with them. Both now are three pages in length. The highlights:

Revised Good Faith Estimate (GFE)

GFE tolerances on settlement costs (1/8 point allowed to be in error)

Revised Settlement Statement (HUD-1)

Revised definitions for application, Good Faith Estimate, and Mortgage Broker

Additional definitions for changed circumstances, origination services, loan originator, prepayment penalty, third party, title service and tolerance

Elimination of 1% origination fee cap on FHA loans

RESPA (Real Estate Settlement Procedures Act) forms apply to federally insured or backed loans such as FHA/VA/Conventional and NOT cash deals. There is also a 30 day cure period to give lenders after closing the ability to meet the tolerance. The closing script is eliminated as it is contained in the revised HUD-1. Average charges can be used by service providers and is not limited to loan originators.

Bottom line is it looks like the new GFE and HUD-1 want the borrower to be as crystal clear on everything related to the loan. It looks like the fastest you could go from app to close is about three weeks. On page three of the new HUD-1 boxes compare GFE and HUD-1 costs. On page 3 of the GFE they clearly in the instructions state what charges CANNOT increase past the GFE, can increase up to 10%, and what charges can change. It is VERY clear. The only thing weird I saw on both the new HUD-1 and GFE is it never clearly says the PITI monthly payment but just principal, interest, and mortgage insurance in the loan terms.

It looks a lot different for most of us, but print yourself out a copy and take a look. January is NOT that far off.

Revised Good Faith Estimate (GFE)

Revised Settlement Statement (HUD-1)

With closings averaging 130 pieces of paperwork both the REALTOR and the consumer need to know about these documents ahead of time. One last tip for both groups in this area, be sure to show up at the table with a U.S. government issued ID with a picture and your signature. This is mandatory for identification purposes. Good luck and happy closings!!!

Stowe Vermont Area Foreclosures - MLS Information

Teresa Merelman, ABR, CRS, e-PRO, RSPS, GREEN (Stowe Realty) — Mon, 19 Oct 2009 20:22:20 -0500

FORECLOSURES or BANK OWNED PROPERTIES - Stowe, Vermont Area

BANK OWNED REAL ESTATE:

Stowe Vermont Foreclosures - updated 10/19/09

Eden Vermont Foreclosures - 10/18/09

Morristown Vermont Foreclosures - 10/18/09

Hyde Park Vermont Foreclosures - 10/18/09

Johnson Vermont Foreclosures - 10/18/09

Wolcott Vermont Foreclosures - updated 10/19/09

Vermont Short Sale Homes - Buyers - What You Need to Know!

Teresa Merelman, ABR, CRS, e-PRO, RSPS, GREEN (Stowe Realty) — Sun, 18 Oct 2009 08:58:27 -0500

Vermont Short Sales - BUYERS - What You Need To Know!

What is a Short Sale? A home is being sold below what the current seller owes on the property and the seller does not have other funds to make up the difference at a closing. Sellers sometimes get in this situation due to number of factors including job losses, aggressive borrowing against their home, declining home values, and personal hardships.

Short Sale vs. Foreclosure - A short sale is different from a foreclosure. Foreclosure is when the seller's lender has taken title of the home and is selling it directly. Homeowners often try to accomplish a short sale in order to avoid foreclosure. But a short sale holds many potential pitfalls for BUYERS. Be prepared for the risks before you pursue a short sale purchase.

You may be a good buyer for a short sale purchase if:

YOU ARE VERY PATIENT. Even after you come to agreement with the seller to buy a short sale property, the seller's lender (or lenders, if there is more than one mortgage) has to approve the sale before you can close. When there is only one mortgage, short sale experts say lender approval typically takes about two months. If there is more than one mortgage with different lenders, it can take four months or longer for the lenders to approve the sale.

YOUR FINANCING IS IN ORDER. Lenders like cash offers. If you can't pay all cash for a short sale property, it's important to show you are well qualified and your financing is set. If you are preapproved, have a large down payment, and can close at any time, your offer will be viewed more favorably.

YOU DON'T HAVE ANY CONTINGENCIES. If you have a home to sell first, or you need to be in a new home by a certain time, a short sale may not be for you. Lenders like no-contingency offers and flexible closing terms.

If you decide to purchase a short sale property, you will need expert assistance including:

EXPERIENCED REAL ESTATE ATTORNEY. A good real estate attorney who is knowledgeable about the short sale process will increase your chances of getting an approved contract. Only about 2 of 5 short sales are approved by lenders. Special provisions and language written into a purchase contract is essential throughout the negotiation.

QUALIFIED REAL ESTATE PROFESSIONAL. A qualified real estate professional will be able to show you short sale homes, help negotiate the purchase when you find a property, and smooth communications with the listing agent and lender. In Vermont, it is not always obvious a property may be in a short sale status.

Some of the other risks faces by buyers of short-sale properties include:

POTENTIAL FOR REJECTION. Lenders want to minimize their losses. If you make an offer tremendously lower than the fair market value, chances are your offer will be rejected. Or the lender could make a counteroffer, which will further lengthen the process.

BAD TERMS. Even when a lender approves a short sale, it could require that the sellers sign a promissory note to repay the deficient amount of the loan, which may not be acceptable to some financially desperate sellers. In that case, the sellers may refuse to go through with the short sale. Vermont is a Recourse State so the borrower can be liable for the deficiency.

NO REPAIRS OR REPAIR CREDITS. You will most likely be asked to take the property "as is." Lenders are already taking a loss on the property and may not agree to requests for repair credits.

To Sum It Up - the risks of a short sale are considerable. But if you have the Time, Patience, Flexibility, and Iron Will to see it through, a short sale can be a win-win for You and the Sellers.

Most of the information above is from the National Association of Realtors which I am a member of. I have added some Vermont Specific Information. Also, I am currently working on the NAR Short Sales and Foreclosure Certification a/k/a SFR. I hope to write about Short Sales as an option for Sellers but am still trying to understand the "Making Homes Affordable" Rules and Guidelines and how they apply in Vermont.

Texting While Driving - Should it be Outlawed?

Teresa Merelman, ABR, CRS, e-PRO, RSPS, GREEN (Stowe Realty) — Sat, 10 Oct 2009 13:07:53 -0500

Texting While Driving - Should it be Outlawed?

I came across a post by Rossi & Bishop on RealTalk yesterday. They referred to an article written by Jamie Nash of Montgomery County News. In the article was a YouTube Video that really stuck a nervee. I am the mother of two teenage boys. Both are actually quite good drivers, but I know the older one texts while he drives. And yes, he knows it's dangerous. I know that when I was a teenager, I thought I was immortal. When I look back at some of the things I did while driving, I am amazed I survived. In those days though we did not know what cell phones or texting were. I am actually pretty good about not using my cell phone while driving as I know how distracting it is. I can't imagine if I attempted to text while driving as I have a hard enough time texting at my desk.

I wanted to share this YouTube video with you. Maybe you have seen it before, but if not, check it out. Some feel it's too graphic, but I feel it gets the message across. Texting and Driving simply do not mix!

The National Transportation Safety Board has major concerns over cell phones and texting while driving. I already know that Vermont has no law against either. I hope that more states, including Vermont, take a proactive approach to this "accident waiting to happen".

Do you know where your state is with legislature? I found a chart posted by the Insurance Institute for Highway Safety dated October, 2009. Click on the icon for the Report by State

Stowe Vermont Foliage - at it's Colorful PEAK!!!

Teresa Merelman, ABR, CRS, e-PRO, RSPS, GREEN (Stowe Realty) — Fri, 09 Oct 2009 18:20:01 -0500

Stowe Vermont Foliage - at PEAK!

As a Stowe Resident for 22 years, I can proclaim that the foliage is at peak. It never seems to fail that Columbus Day weekend coincides with our Colorful Peak. It's been a rainy week but looks like there is some sun in the forecast for this weekend!

These are some photos I took today - October 9th, 2009.

What a pleasure it is to drive around our back roads to find such eye candy!

There are also some great events this weekend besides taking in the foliage:

Stowe Foliage Craft Show at Topnotch - October 9-11th, 2009

History of Trapp Family Lodge Tour - October 9-11th, 2009

Stowe Home Tour - October 10th, 2009

If you come up to Vermont, feel free to contact me. I'd love to show you some of the beautiful homes available for sale in the Stowe area!

Stowe Vermont Homes for Sale

Teresa Merelman, Broker
ABR, CRS, e-PRO, GREEN
Stowe Realty
(802) 253-8484 office
(802) 793-5171 - Cell

Teresa@StoweUSA.com
www.StoweUSA.com

Stowe Vermont Real Estate Market - Home, Condo and Land Sales - Statistics

Teresa Merelman, ABR, CRS, e-PRO, RSPS, GREEN (Stowe Realty) — Sun, 04 Oct 2009 16:16:57 -0500

STOWE VERMONT REAL ESTATE MARKET - STATISTICS ON HOME, CONDO AND LAND SALES - October 1, 2009

The Stowe Vermont Real Estatehas completed three quarters of sales history in 2009. So I thought it would be an appropriate time to take a look at the sales, pendings, and active listings for Stowe Homes, Condos and Land. The data was compiled from our MLS system and does not include private sales.

STOWE VERMONT HOMES MARKET:

As of 10/1/2009, there have been 23 homes sold. The average list price was $533,957 and the average sale price was $481,896. The Average Days on Market was 164. The median list price was $435,000 and median sale price was $399,000. The Median Days of Market was 151. The Average Price per Finished Square Foot Above Grade Sold was $193. There are 149 Active Homes on the market as of 10/1/09. There are 14 homes "Pending" with 5 priced between $0 - $500,000, 6 priced between $500,000 and $1.0m, and 3 priced above $1.0m. Stowe is certainly seeing an increase in home contracts.

CHART OF STOWE HOME SALES AS OF October 1, 2009

COMPARISON TO 2008: In 2008, a total of 52 homes sold. The average list price was $556,960 and average sale price was $535,481. The median list price was $492,000 and the median sale price was $445,000. The average DOM was 215 and the median DOM was 171. The average price per finished square foot above grade was $202.

COMPARISON TO 2007: In 2007, a total of 74 homes sold. The average list price was $710,000 and the average sale price was $652,098. The median list price was $499,000 and the median sale price was $450,000. The average DOM was 197 and the median DOM was 161. The average price per finished square foot above grade was $219.

STOWE VERMONT CONDO MARKET AS OF OCTOBER 1, 2009:

As of October 1, 2009 there have been 11 condos sold. The average list price was $428,727 and the average sale price was $387,420. The median list price was $299,500 and the median sale price was $290,000. The average DOM was 366 and the median DOM was 300. The average price per finished square foot above grade was $213. There are 100 condos actively on the market and there are 3 condos pending.

CHART OF STOWE CONDO SALES AS OF OCTOBER 1, 2009

Comparison to 2008: In 2008, 23 condos sold. The average list price was $326,300 and the average sale price was $294,261. The median list price was 220,000 and the median sale price was $220,000. The average DOM was 289 and the median DOM was 242. The average price per finished square foot above grade was $202.

Comparison to 2007: In 2007, 27 condos sold. The average list price was $459,530 and the average sale price was $437,752. The median list price was $399,900 and the median sale price was $387,000. The average DOM was 222 and the median DOM was 163. The average price per finished square foot above grade was $252.

STOWE VERMONT LAND SOLD AS OF OCTOBER 1, 2009

As of October 1, 2009 there have been 4 lots sold. The average list price was $627,250 and the average sale price was $511,250. The median list price was $647,500 and the median sale price was $560,000. The average DOM was 332 and the median DOM was $125. The average price per acre was $55,860. As of October 1, 2009, there were 57 lots actively on the market. There is 1 lot pending.

CHART OF STOWE LAND SOLD AS OF OCTOBER 1, 2009

Comparison to 2008: In 2008, 13 lots sold. The average list price was $472,231 and the average sale price was $412,962. The median list price was $295,000 and the median sale price was $278,000. The average DOM was 464 and the median DOM was 350. The average price per acre sold was $30,270.

Comparison to 2007: In 2007, 19 lots sold. The average list price was $577,711 and the average sale price was $498,947. The median list price was $375,000 and the median sale price was $350,000. The average DOM was 217 and the median DOM was 149. The average price per acre sold was $31,580.

GENERAL COMMENTS: As in many markets, Stowe has a higher inventory of homes, condos and land than in the past. The average and median prices have gone down, the number of sales have decreased, and the days on market has increased.

STOWE CHART OF ACTIVE LISTINGS AS OF OCTOBER 1, 2009

At this time, it appears that homes are getting the most attention from potential buyers. Stowe has many vacation, 2nd homes, and investment properties. There are some very good buys right now. You just need to know where the real value is!

Below are links to Stowe Vermont Real Estate:

Stowe Vermont Homes For Sale
Stowe Vermont Condos for Sale
Stowe Vermont Land for Sale

Feel free to give me a call whether you are thinking of buying a property, selling a property, or just want to talk about the market conditions!

Teresa Merelman, Broker
ABR, CRS, e-PRO, GREEN, RSPS
Stowe Realty
(802) 253-8484 - Office
(802) 793-5171 - Cell
Teresa@StoweUSA.com
www.StoweUSA.com

VERMONT UPDATES SEX OFFENDER REGISTRY WEB SITE

Teresa Merelman, ABR, CRS, e-PRO, RSPS, GREEN (Stowe Realty) — Sat, 03 Oct 2009 13:19:40 -0500

VERMONT UPDATES SEX OFFENDER REGISTRY WEB SITE - October 1, 2009

Beginning October 1, 2009, the Vermont Sex Offender Registry Web Site has been updated to add persons meeting any of the following criteria:

Convictions for:
Aggravated sexual assault of a child
Aggravated sexual assault
Sexual assault
Kidnapp8ing with intent to commit sexual assault
Lewd or lascivious conduct with a child
Second or subsequent conviction for voyeurism
Slave traffic
Sex trafficking of children or by force, fraud, or coercion
Sexual exploitation of a minor
Any offense regarding sexual exploitation of children
Certain federal sex crimes
A Second or subsequent conviction for sexual offenses
Individuals with an outstanding warrant for their arrest for a Registry violation
Individual who have been designated as sexual predators
Individual who have been designates "high risk offenders" by the Dept. of Corrections
Individuals who have not complied with or are ineligible for sex offender treatment as recommended by the Dept. of Corrections

For more information about the Vermont Sex Offender Registry:

The list allows for a search of offenders by name, town or county. One will be able to see photographs, physical descriptions, crimes, conviction dates, treatment status, and whether the Dept. of Corrections considers the offender as high risk. According to an article in the Burlington Free Press (written by Nancy Remsen) the expanded registry does not include the names of about 300 offenders who live in Vermont but were convicted elsewhere. Apparently a drafting glitch in the new law mistakenly exempted this category of offenders from the internet posting requirement.

To search for individuals within Vermont by name, town or county:

As I was researching the above information, I wondered where Vermont stands compared to other states in the area of crime statistics. Vermont came in number 48 - better not to be in the top 3 here. Below is a chart from the FBI Uniform Crime Reports (2007)

I also found the FBI TOP 10 MOST WANTED SITE - Yes, Bin Laden is still there! Here's quick access to it:

I applaud Vermont for updating the Sex Offender Registry! I realize that this was primarily done because of public pressure given some recent incidents. Please keep the list current and add those from out of state.

Teresa Merelman, Broker
ABR, CRS, e-PRO, GREEN
Stowe Realty
Stowe, Vermont 05672
Teresa@StoweUSA.com
www.StoweUSA.com

Search for Stowe Vermont Homes

Mortgage Delinquencies - The Coming Storm

Teresa Merelman, ABR, CRS, e-PRO, RSPS, GREEN (Stowe Realty) — Fri, 02 Oct 2009 11:34:57 -0500

VERMONT Foreclosures and Mortgage Delinquencies - As an Active Rain blogger, every now and then I find a blog worth "re-blogging". Even though Vermont still has a relatively low foreclosure rate and deliquint rate, it is obvious that the longevity of our financial situation is catching up with many. This blog submitted by Jeff Geoghan of Lancaster, PA was well written and provides great graphs. I hope it helps shed some light on "The Coming Storm"!

Teresa Merelman, Broker
Stowe Realty
(802) 253-8484 - Office
Teresa@StoweUSA.com
www.StoweUSA.com

Via Jeff Geoghan MBA - Lancaster PA Real Estate Expert (The Jeff Geoghan Realty Group, Coldwell Banker Lancaster PA):

This is one of those posts where I wish I didn't have to write it, but felt it was so important to my readers that I would be remiss not to at least talk about it.

Everyone out there probably knows somebody who is behind on their mortgage payments, looking for alternatives and likely also just finding out that their home's value has dipped below what their loan amount is. I know some within my own personal circles. It's a tough situation for me to advise them as a professional because it's such a personal challenge to their pride and self-worth, not to mention their plans and dreams for the family. The question we're asking is "when is this going to stop and where are we heading?"

I'm going to put up a few graphs that show the trends nationally with regards to mortgage delinquincies:

This chart is by quarter - Single-family mortgages set a new record delinquency rate in the second quarter of 2009, according to a quarterly survey by the Mortgage Bankers Association. Those of us in the real estate business see the foreclosure process (just visit the local Sheriff Sale docket to see the current numbers) but the looming delinqency-to-foreclosure issue is far, far larger.

The Wall Street Journal on 8/3/09 reported the following quote: “While subprime mortgages sparked the first round of housing problems two years ago, now "troubles are lurking further up the food chain," says Joshua Shapiro, chief U.S. economist at MFR Inc. White-collar job losses have accelerated while more adjustable-rate loans to prime borrowers are resetting to higher payments. ‘You put all that together, it leads me to believe that the next leg down on home prices is going to come from the top,’ he says.”

The first objection someone may have would be to say "yes, but historically those who are delinqent usually get their act together and come current on the mortgage after a while". That WAS true, but not anymore! We call that the "Cure Rate", that is the rate of delinquencies that go back to current. The Wall Street Journal reported on 8/24/09 about a Fitch analysis that found that the Cure Rate from 2000-2006 was 45% (which means about half of people fix their delinquency). However, as of July 2009 the rate had dropped to just 6.6%! That means that over 90% of delinquent customers are going to foreclosure. Take a look again at the above chart...

The next thing someone will say is "well, that's the 'sand states' and not my area". Here's the chart for all 50 states showing the same breakdown of delinquencies and foreclosures. Guess what - most states have a significant problem, especially compared to historical figures.

Now the next thing someone may say is "aren't those loans going to get 'fixed' by a loan modification?" I know several people right now who are applying for a Lancaster County loan modification but are waiting and waiting. I hope it works out for them...

In reality, loan modifications are hardly making a dent. To me, that's a burning question. Why arent banks being more aggressive in giving customers the option to extend their loan and/or reset to a lower rate? Why are they being SO difficult? The people I know don't want to be foreclosed. They CAN make payments. They just need the terms redrawn to allow them to catch & keep up. Loan modifications are not helping us get this crisis under control.

What are the causes of all these delinquencies? Here's a chart that is enlightening:

We hear a lot about adjustable rate mortgages being the culprit, but the reality is that it's the loss of jobs and the tanking real estate market that's the perfect storm. See my previous post on unemployment in the nation, the state and Lancaster County.

Keep in mind, this post is not intended to give us "good news". You may be experiencing good things in your market and that's great. My intent is to get us thinking about the challenges that aren't going away and how we're going to address them as homeowners, agents and professionals. I'd love to hear your ideas!

Vermont Foliage - Here Come the Leaf Peepers!

Teresa Merelman, ABR, CRS, e-PRO, RSPS, GREEN (Stowe Realty) — Sat, 26 Sep 2009 14:53:02 -0500

Vermont Foliage - Here Come the Leaf Peepers!

Well, it's September 26th, 20009 and Stowe, Vermont has become a haven for the Leaf Peepers. They come from all over the world - Europe, Australia, Canada, Japan and Vermont's neighbors - Massachusetts, Maine, New York, and let's not forget New Jersey.

They come by plane, by car, by bike, by motorcycle and my favorite - by bus. Buses are filled with "blue" haired folks who walk around town with ID cards hanging around their necks. For a period of about 3 weeks, Stowe and other Vermont towns become overrun by tourists. If you live here, it can be a bit frustrating because they drive differently. They stop in the middle of the road and just look at the scenery! Can you believe it? Also, the shops, restaurants, rec paths, and golf courses fill up with these leaf peepers. Since Stowe is a tourist town, this is certainly expected and welcomed.

I have lived in Stowe for 22 years. I am a flat lander and am primarily from the Washington D.C. area. You have to be born in Vermont to be considered a Vermonter. Every year, around this time, I am totally captivated by the beauty of nature. Just walking my dog is Stowe Hollow is a treat as all the amazing colors surround me. The two most utterly amazing foliage days I remember were: Snow at peak foliage - bright colors surrounded by new snow ; and Double Rainbows at full foliage - almost too much color for my eyes to take in. I guess you can tell that this is my favorite time of year.

If you decide to come up, here are some activities you can do:
Very Comprehensive Site: Stowe Area Association - includes local events, shops, plays, etc.
Go Soaring with Stowe Soaringat the Morrisville Stowe Airport
Visit Cold Hollow Cider Mill and Ben and Jerrys in Waterbury Center, Vermont
Site-Seeing Tours with Mountain View Tours

Many Stowe, Vermont visitors are happy just to walk around Stowe Village and stop in the various shops. Plus, we have a very popular Stowe Recreation Path that starts in the Village and winds along the West Branch River, up the Mountain Road, and to the Covered Bridge close to Topnotch. And best of all - it's free! I hope that when I am in my 70's and 80's, I will be one of those "blue" haired ladies from the bus tours that takes the time to appreciate the simple pleasures of nature!

Another great activity is to Look For Homes! My office is located right on the Mountain Road in Stowe. I'd be happy to show you some of the areas homes, condos, or land. You can always check out Stowe Vermont Homes on my web site. Here's a Link Stowe Vermont Homes For Sale.

Here's a photo I took today from the Stowe Realty Parking Lot. Hurry and visit Stowe before the color fades away this year. Of course, next comes Ski Season! But that's another Blog.

Teresa Merelman, Broker
ABR, CRS, e-PRO, GREEN
Stowe Realty
(802) 793-5171 - Cell
Teresa@StoweUSA.com
www.StoweUSA.com

Stowe, Vermont Real Estate Auctions

Teresa Merelman, ABR, CRS, e-PRO, RSPS, GREEN (Stowe Realty) — Mon, 14 Sep 2009 09:15:38 -0500

Stowe, Vermont Real Estate Auctions

On Friday, September 11th, 2009, I attended two real estate auctions in Stowe, Vermont. I have been a Realtor in Stowe since 1998 and have never been to a real estate auction. As a former Bed and Breakfast owner in Stowe, I used to attend many furniture auctions. They were always a lot of fun and I certainly was able to purchase some great antiques for the bed and breakfast.

In these trying times, I think we will see more properties going into foreclosure. Some on the auction block.

I decided to witness the auctions for three reasons: 1. To gain a better understanding of what happens at real estate auctions; 2. Had a potential buyer interested; and 3. I absolutely love the two properties on the block.

The photos of the auction properties were provided by Thomas Hirchak Company located in Morristown, VT and the Auctioneer of the real estate.

The first property is known as Staffords. It is located in the heart of Stowe Village. It used to be operated as a Vermont Country Store, Pharmacy, and Funeral Home. It also has 5 apartments. It has long been an icon in the Village. Many interested folks attended the auction. Most appeared to be curious locals, but there were definitely some serious buyers.

As a joke, the auctioneer started the bid at $5,000,000. Eventually, a starting bid was placed for $500,000. The auctioneers quickly picked out the serious parties and the bids went back and forth between them. It is always fascinating to watch the eye contact between the bidders and the auctioneers. Eventually, an investment group had the winning bid at $885,000. That was a hell of a good buy. Plus, it sounds like they have the right idea for the best use of the property and the desire to bring more vitality to the heart of Stowe!

The second property is known as Tandragee. It is a grand and beautifully located home in Stowe Hollow. I have had the pleasure of showing it to perspective buyers a few times and have always been awed by the views and gracious grandeur of Tandragee.

Once again, several interested parties previewed the property. The auctioneer started the bid at $500,000. Unfortunately, no one was able to match the bank's minimum. It sold back to the bank for $1,440,000. I guess we will see it back on the market at some point in time.

Another "famous" property will be auctioned off on Friday, September 25, 2009 by Thomas Hirchak Company. It is known as Winding Brook Lodge and is a 15 room lodge located on Edson Hill Road in Stowe. This one is a typical ski type lodge with lots of character. I hope the right buyer comes along and is able preserve this property's uniqueness and history.

Vermont has the lowest foreclosure rate in the country. It appears though that some property owners have become victims of the recession. And I must say that it is sad to see this...

I hope I do not have very many more occassions to attend real estate auctions in Stowe.

Teresa Merelman, Broker
ABR, CRS, e-PRO, Green
Stowe Realty located in Stowe Vermont
(802) 253-8484 Office
Teresa@StoweUSA.com
www.StoweUSA.com

Stowe Vermont Homes for Sale

Vermont Home GREEN Search - Lamoille and Washington Counties

Teresa Merelman, ABR, CRS, e-PRO, RSPS, GREEN (Stowe Realty) — Sat, 15 Aug 2009 11:36:59 -0500

Vermont Home Property Search - Properties with "GREEN" Attributes in Lamoile and Washington Counties

MLS "GREEN" Search

Many potential buyers of real estate look for properties that are "green". This concept has many level of attributes. I have just completed the National of Association of Realtors® GREEN certification two day course. As a result, I am learning about the various ways a home can qualify for levels of energy efficiency, material recycling, and green construction.

Below are Links to the MLS system based on Lamoille County (Stowe, Morristown, Elmore, Hyde Park, Johnson, Wolcott, Jeffersonville etc.) and Washington County (Waterbury, Duxbury, Moretown, Montpelier, etc) inventory.

This is an effort to help you find properties that have "Green" qualities.

For more information about Going "Green", check out "Green Resources".

LAMOILLE and WASHINGTON COUNTIES of VERMONT:

Properties with ENERGY RATED as a document

Properties with ENERGY CERTIFIED as Type

Properties with GREEN CONSTRUCTION as Type

Properties with GEOTHERMAL HEAT as a source of water heat

Properties with RADIANT HEAT as a source of heat

Properties with SOLAR HEAT as a source of heat

Properties with SOLAR WATER HEAT as a source of water heat

For more information about properties in the area or about "GREEN" Resources, feel free to contact me!

"GREEN" Resources

Teresa Merelman, BROKER
ABR, CRS, e-PRO, GREEN
Stowe Realty
Stowe, VT 05672
(802) 253-8484 - Office
(802) 793-5171 - Cell
Teresa@StoweUSA.com
www.StoweUSA.com

Stowe Vermont Real Estate

Teresa Merelman, ABR, CRS, e-PRO, RSPS, GREEN (Stowe Realty) — Sat, 15 Aug 2009 11:20:21 -0500

Stowe Vermont Real Estate

Stowe, Vermont is a four-season resort ski town. Like many resort towns, Stowe has a lot of vacation and second homes. We have a full time population of about 4,500 people, but at certain times of the year, our population swells with skiiers, leaf peepers, craft and art fans, antique car show buffs, or just folks from the "big" cities such as NYC, Boston, or Montreal who want to slow down and enjoy the beauty of a New England small town.

But also like many resort towns, the sale of real estate has been slowed down by the recession. 2009 has seen an increase of real estate inventory and a decrease in sales. However, August has seen activity from buyers that we have not seen in awhile. The Realtors® are busy showing homes again! We are even seeing multiple offers again. Although the current sold numbers don't show a dramatic gain, there are currently 10 homes under contract - 4 of which are over $500,000. So far, from Jan. 1, 2009 through August 1, 2009 the Average List Price of homes sold was $588,357 which is higher than 2008. The average Sale Price of homes sold was $521,000 - a bit lower that 2008's $535,000.

CHART - Stowe, Vermont Homes Sold between January 1, 2009 through August 1, 2009

CHART - Stowe Vermont Homes, Condos and Land for Sale - Inventory

It "feels" like the Stowe market it starting to pull out of the slump. If you have been thinking about buying here, this may be a good time to become a buyer. There are some good buys. Just so you know, Vermont has the lowest foreclosure rate in the country, so don't expect to to steal properties, but there are some motivated sellers and well priced properties. Check out the links below for properties for sale in Stowe:

Stowe Vermont Homes for Sale
Stowe Vermont Condos for Sale
Stowe Vermont Land for Sale
Stowe Vermont Commercial Properties for Sale
Stowe Vermont Multi-Unit Property for Sale

Stowe's neighbor to the North, Morristown, continues to have a relatively strong and healthy market. See my report:

Morristown Vermont Real Estate

Stowe's neighbor to the South, Waterbury, also continue to have a relative strong and healthy market. See my report:

Waterbury Vermont Real Estate

Feel free to contact me for more information about the real estate market in this area. I'd be happy to meet with about listing your property or show you properties.

Sincerely,

Teresa Merelman Broker
ABR, CRS, e-PRO, GREEN
Stowe Realty
Stowe, Vermont 05672
(802) 253-8484 - Office
(802) 793-5171 - Cell
Teresa@StoweUSA.com
www.StoweUSA.com

Stowe, Vermont Real Estate - Homes Sales Starting to Rebound!

Teresa Merelman, ABR, CRS, e-PRO, RSPS, GREEN (Stowe Realty) — Fri, 14 Aug 2009 20:54:43 -0500

Stowe Vermont Real Estate

CHART - Stowe, Vermont Homes Sold between January 1, 2009 through August 1, 2009

CHART - Stowe Vermont Homes, Condos and Land for Sale - Inventory

Stowe Vermont Homes for Sale
Stowe Vermont Condos for Sale
Stowe Vermont Land for Sale
Stowe Vermont Commercial Properties for Sale
Stowe Vermont Multi-Unit Property for Sale

Stowe's neighbor to the North, Morristown, continues to have a relatively strong and healthy market. See my report:

Morristown Vermont Real Estate

Stowe's neighbor to the South, Waterbury, also continue to have a relative strong and healthy market. See my report:

Waterbury Vermont Real Estate

Feel free to contact me for more information about the real estate market in this area. I'd be happy to meet with about listing your property or show you properties.

Sincerely,

Teresa Merelman Broker
ABR, CRS, e-PRO, GREEN
Stowe Realty
Stowe, Vermont 05672
(802) 253-8484 - Office
(802) 793-5171 - Cell
Teresa@StoweUSA.com
www.StoweUSA.com

Vermont Real Estate Taxes

Teresa Merelman, ABR, CRS, e-PRO, RSPS, GREEN (Stowe Realty) — Thu, 13 Aug 2009 21:22:31 -0500

Vermont Real Estate Taxes

Vermont, like most states, has a complex tax system. My goal is to provide a specialized tax resource for those thinking of buying real estate or selling real estate in Vermont.

The most comprehensive article I have seen on Vermont Real Estate Taxes is published by Vermont Property Owners Report. A link to the most current Special Report of Vermont Real Estate Taxes dated July 2009 is below:

The State of Vermont also has a very comprehensive site:

Some of the most requested information may be found at these sites:
Vermont Property Transfer Tax

Capital Gains Bulliten

Business Taxes

Major Vermont Taxes

Should you need specialized advice about taxes and consequences of a purchase or sale of real estate, I strongly suggest you contact either your financial advisor, accountant, or attorney.

Feel free to contact me about your real estate needs in the Stowe, Vermont area!

Teresa Merelman, Broker
ABR, CRS, e-PRO, GREEN
Stowe Realty
(802) 253-8484 - Office
(802) 793-5171
Teresa@StoweUSA.com
www.StoweUSA.com

Search for Homes in Stowe, Vermont

Waterbury, Vermont Home Sales on Track with 2008 vs. 2009 Statistics

Teresa Merelman, ABR, CRS, e-PRO, RSPS, GREEN (Stowe Realty) — Mon, 10 Aug 2009 07:03:16 -0500

Waterbury, Vermont Homes Sales on Track with 2008 Home Sales

The well located town of Waterbury, Vermont is holding it's own through the downturn in the economy. Waterbury is located just off I-89 and is in the crossroads of major communities such as Burlington, VT to the northwest, Montpelier, VT to the east, the Waitsfield/Warren Sugarbush area to the south, and the Stowe, VT ski resort area to the north.

Waterbury is also home to some major employers such as the State of Vermont, Green Mountain Coffee Roasters, and Ben and Jerrys Ice Cream.

The two charts below show in 2008, there were 30 homes which closed with an Average List Price of $324,000 and an Average Sales Price of $302,000. As of August 1, 2009, there have been 16 home sale with an Average List Price of $311,525 and an Average Sales Price of $297,822. As of August 1, 2009, there were 6 Homes Under Contract.

Waterbury, Vermont Home Sales 2008 Chart

Waterbury Home Sales as of July, 31, 2009 Chart

Waterbury Vermont Active Home Listings - August 1, 2009

Waterbury's Real Estate Inventory continues to remain healthy although there has been a slight decrease in August.

Waterbury's market appears to be following it's neighbor to the North, Morristown, Vermont.
Morristown, Vermont Real Estate Market Report

Waterbury is another area in which first time buyers could make use of the $8,000 tax credit. See my blog for more information on the $8,000 Tax Credit.

Below are links to currently available properties in the Waterbuy and Waterbury Center area:
Waterbury Vermont Homes For Sale
Waterbury Vermont Condos For Sale
Waterbury Vermont Land For Sale

Feel free to contact me about the Real Estate Market in the Waterbury, Vermont area. I'd be happy to help!

Teresa Merelman, Broker
ABR, CRS, e-PRO, GREEN
Stowe Realty
Stowe, VT 05672
(802) 253-8484 - Office
(802) 793-5171 - Cell
Teresa@StoweUSA.com
www.StoweUSA.com

Morristown, Vermont Home Sales Holding Strong

Teresa Merelman, ABR, CRS, e-PRO, RSPS, GREEN (Stowe Realty) — Sun, 09 Aug 2009 20:09:19 -0500

Morristown, Vermont is a town just about 10 miles North of Stowe, Vermont. It is a town with a strong infrastructure - especially compared to other small Vermont towns. It has is it's own school system, Copley Hospital, two large grocery stores, McDonalds, Subway, and even a Dunkin Donuts! Most of Morristown's residents are primary residents.

While some of Vermont's other towns, especially the resort towns, have suffered decreased sales and relatively lower list prices and sales prices, Morristown is on track for sales to be higher than 2008!

When you compare the sales in 2008 vs. July 31, 2009, Morristown needs 15 more closings to equal 2008. There were 8 homes pending as of August 1, 2009 so Morristown may beat 2008. Also, the average list and sale prices are about the same - a bit of a dip but not much.

Chart - Morristown Home Sales in 2008

Morristown Homes Sales at of July 31, 2009

Morristown is one of the best towns in Vermont to take advantage of the $8,000 tax credit for first time buyers. But time is running out!

Below is a summary of Morristown's active listings. The inventory went down at the beginning of August.

Morristown Active Listings

If you have a desire to learn more about Morristown, feel free to call me or e-mail.

Here are some links to Morristown Properties:

Morristown, Vermont Homes

Morristown, Vermont Condos

Morristown, Vermont Land

Teresa Merelman, Broker
ABR, CRS, e-PRO, GREEN
Stowe Realty
Stowe, VT 05672
(802) 253-8484 - Office
(802) 793-5171 - Cell
Teresa@StoweUSA.com
www.StoweUSA.com

VERMONT First-Time Home Buyers - Act Now to use the $8,000 Tax Credit!

Teresa Merelman, ABR, CRS, e-PRO, RSPS, GREEN (Stowe Realty) — Sat, 20 Jun 2009 18:01:41 -0500

Attention - First-Time Home Buyers in Vermont - Act Now to Use the $8,000 Tax Credit. You must be able to close by November 30, 2009 to use this credit!

If you are dreaming of owning home, now is a great time to buy!

Hopefully, by this time, you have heard about the recently enacted first-time homebuyer tax credit. Many buyers have used it or will be using it. If you are still not sure what it it all about, here is a synopsis as reported by Ken Trepeta, Director of Real Estate Services for the National Association of REALTORS:

1. It is available to first-time home buyers only, but that means people who have not owned a home in the past three years too. The home must be the principal residence and there is a recapture provisision if one moves out or sells before the end of three years.

2. It is lmited by income and starts to phase out for individuals at $75,000 and couples filing jointly at $150,000. The credit completely phases out at $95,000 and $170,000 respectively.

3. It expires on November 30, 2009. For existing home buyers, you must close by that date. For new construction buyers, you must occupy by thate date.

4. It is not available directly at the closing table,

5. One does not need to wait until 2010 to claim the credit. Once can claim it on their 200 taxes by filing an amended return after they close on their home. Best to contact your accountant on this.

6. There aren't many restrictions on the type of home; however, one cannot purchase a home from a close relative.

Below are links to additional information:

First Time Home Buyer Tax Credit CHART

First Time Buyer Tax Credit IRS Form

You may be wondering where to start. If you have decided to finally purchase a home, start with the banks and mortgage companies. A good place to begin is with Vermont Housing Finance Association. Click on the icon below to go to their site or go to: http://www.vhfa.org

Once you have a good of idea of what you can afford, start looking. Hire a Realtor who is familiar with the tax credit program and can work with the mortgage company. Look for an Accredited Buyer Representative - someone who will represent you as the buyer.

Here is a link to Homes in the Lamoille County Area priced between $100,000 and $400,000.

Here is a link to Homes in the Washington County Area priced between $100,000 and $400,000.

I hope this information has been helpful and that you do not hesitate to become a home owner. Feel free to contact me about purchasing properties in the area!

Sincerely,

Teresa Merelman, Broker
ABR, CRS, e-PRO, RSPS, GREEN
Stowe Realty
(802) 253-8484 - Office
(802) 793-5171 - Cell
Teresa@StoweUSA.com
www.StoweUSA.com

Stowe, Vermont Homes Sales as of June 1, 2009

Teresa Merelman, ABR, CRS, e-PRO, RSPS, GREEN (Stowe Realty) — Fri, 05 Jun 2009 22:30:08 -0500

May of 2009 was a busy month in Stowe. Home sales doubled - from a total of 4 for the year to 8! Also on the rise were the number of Active Home Listings in Stowe. This is not unusual for more properties to be listed in the Spring.

The resort areas in Vermont like many other states have certainly felt the affects of the current unstable economy. We normally have a strong second home/vacation home market. But, these days, potential buyers are more cautious and many no longer have the discretionary income they have come to expect. So we have an unusually high inventory - especially among homes above $1,000,000 and fewer sales. We have seen many price reductions from the more motivated sellers.

My advice to Sellers - if your property is being marketed appropriately, it may be time to take another look at the asking price. Talk to your listing agent and ask what he or she thinks the price should be. Make sure you really know what your bottom line is. Many times it is difficult for listing agents to tell a seller where the house should be priced, but price seems to be the most effective weapon to get your home sold.

The good news - great time to buy! Interest rates are still relatively low and there are many properties - even in the Stowe area - that may qualify for the $8,000 tax credit to first time home buyers.

Feel free to contact me for more information about homes, condos, and land in the area current available for sale. Of course, I'd be happy to discuss the numbers with you too!

Teresa Merelman, Broker, ABR, CRS, e-PRO
Stowe Realty
(802) 253-8484
Teresa@StoweUSA.com
www.StoweUSA.com

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Mortgage Delinquencies - The Coming Storm

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Stowe Vermont Real Estate

Stowe, Vermont Real Estate - Homes Sales Starting to Rebound!

Vermont Real Estate Taxes

Vermont Real Estate Taxes

The most comprehensive article I have seen on Vermont Real Estate Taxes is published by Vermont Property Owners Report. A link to the most current Special Report of Vermont Real Estate Taxes dated July 2009 is below:

The State of Vermont also has a very comprehensive site:

Waterbury, Vermont Home Sales on Track with 2008 vs. 2009 Statistics

Morristown, Vermont Home Sales Holding Strong

VERMONT First-Time Home Buyers - Act Now to use the $8,000 Tax Credit!

Stowe, Vermont Homes Sales as of June 1, 2009