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
Stowe Homes for sale 6/5/09
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