Blog

Northfield Home Goes From 0 Offers to 3 in Only a Few Weeks!

There's a lot to consider when selling a home; and It takes a great Realtor to really understand the seller’s goals and Mattie Dube did just that!

Continue reading for a (real story) of the process Amanda went through while selling her house in Northfield, VT -- and learn more of how Mattie helped her in that process. 


"Amanda had already moved on to a new home with her partner and was ready to wrap up this chapter of her life. She contacted me to help her sell her Northfield home, where she had lived for many years. Her Northfield home had a lot of sentimental value, but she knew it was time to let it go to someone new.

    When speaking with Amanda it was important to learn what her goals were with this sale and how she wanted to go about it. Not all transactions are about making the most money or doing the most work to get the house perfect for selling. Amanda was ready to move on and wanted to make enough money to pay off her remaining commitments while requiring the least amount of intervention on her end. She is a busy professional and no longer lived in the home so it was my job to get the house sold without adding too much to her plate.

    To do this, I met Amanda at her home for a pre-listing appointment. We did a walk through and Amanda told me what she loved about her time in the home, what she thought would be desirable to future buyers and I helped to give her advice about quick, easy and low-cost fixes that would make the property present better to potential buyers.

    The house was vacant but needed a little bit of love to really shine. After a few showings with no offers, I recommended that the seller paint the interior all white during her spare time on weekends while the home was listed. It was quick, painless, super affordable and made all the difference!

    100 Parsons Lane ended up having 20 showings and  3 offers (2 cash!). When we were analyzing the offers, I worked with the seller to make sure that she was getting what she wanted out of this transaction. The highest amount of money is not always the most desirable offer. The negotiation reflected the needs of my seller - make enough money to pay off her remaining bills, sell it quickly and take the offer that is most likely to close. Together we made the decision to take an offer that was cash, did not have any contingencies, and we closed in an easy peasy ten days.

           The home was sold to a contractor/inspector who had plans to bring it back to its former glory and restore the home for his son. The buyer got the project he was looking for and Amanda was able to pass her home on to someone who would breathe new life into it.

            As a Realtor it felt great to know that this transaction was smooth, low-stress and satisfying for all parties involved. Everyone worked together to deal with any hiccups and we got the deal done in record time. That’s what a successful transaction means to me." - Mattie Dube 

 

7 Ways to Increase Income From Multi Family Property | Green Light Real Estate

 

7 Ways to Increase Income From Multi Family Property

 

When it comes down to it, you own multifamily property so that you can make money. You want to make a profit each month with cash flow. You want to increase the value of the property so you can either sell for a profit, or refinance and pull equity out for other projects.

 

You’re a nice person. But you’re not investing out of the goodness of your heart. Profit matters.

 

The best way to improve the monthly cash flow is to increase income, decrease expenses, or both. Here are seven ways that you can increase your building’s income, increase your tenants’ happiness, and increase your building’s value. It’s a win-win-win!

 

#1: Market Rent

Are you charging market rent? That doesn’t mean “average rent”. If your property is below average, then you’re not going to get average rent. But you should charge enough so that you’re getting paid what the unit is worth. (If you missed the earlier Barre Multi Family Report about average rents, just email Info@GreenLightRealEstate.com and we’ll send it to you.)

 

If you haven’t increased rent in a couple years, consider doing so now. Have your expenses gone down? Not likely. I’m willing to bet your property taxes and water/sewer bills haven’t gone down.  How about at least passing along the increases that you’ve been eating. There’s probably room for higher increases than that, but at least it’s something.

 

#2: Small Improvements Go A Long Way

Can you do some improvements that make the place more desirable? You don’t have to do an entire apartment renovation to justify increasing rents. How about installing new countertops and new appliances? (Especially if the old ones were nearing the end of their lives anyway.) Or,  installing a new toilet, sheet vinyl, and a vanity in the bathroom. 

 

Call or email Green Light Real Estate 802-225-6425, Info@GreenLightRealEstate.com

 

#3: Storage! Storage! Storage!

Lots of apartments lack storage. Can you find or make storage in your units? Even enough for tire storage, holiday decorations, and moving boxes can make a big difference in quality of life for a tenant. And you can charge for it. We recommend making storage safe, secure, and simple. Remember that you might have to pay to have it emptied if the tenant “forgets” when they move out. So, consider adding something to the security deposit to cover for that possibility.

 

#4: Laundry

Everyone needs to wash their clothes. What if you added laundry hookups in the units? I’m not saying you even have to provide the machines, although that’s nice. Just having the hookups gives tenants a nice option. Or, if your building lends itself to a common laundry, coin-op might be the answer.

 

Call or email Green Light Real Estate 802-225-6425, Info@GreenLightRealEstate.com

 

#5: Arf. Purrr.

Furry friends are more and more popular. There’s an age old debate about allowing pets in rentals. The pros are that you can have more tenants to choose from, and therefore might be able to pick a better tenant. You can also charge a pet premium, and hold an additional deposit. 

 

Cons are that pets can cause damage, disturb other tenants, and could cause insurance or liability issues.

 

#6: Delivery Amenities

Do your tenants shop online?  Do they have packages delivered to their homes? Could you install a secure home delivery mailbox system for the tenants? It would give your tenants peace of mind, and also, perhaps prevent tension between tenants. You and I know that our tenants would never accidentally take a package that belongs to their neighbors. The neighbors, however, might not always think that.

 

#7: Covered Parking

Some buildings have the space and the exterior layout to allow for garages or more simple carports.  Check with zoning, and then run the numbers. What would it cost to add covered parking? What rent premium could you charge? Up to you whether the return is worth the investment of time and money.

 

Call or email Green Light Real Estate 802-225-6425, Info@GreenLightRealEstate.com

 

There you go. Seven solid, actionable ways that you can increase income in your multifamily rentals. Pick one or two, and see what the results are. 


 

Is it time to stop being a landlord, or to divest some of your holdings? 

 

Call or email Green Light Real Estate for a free comprehensive property valuation. We always have buyers that are qualified to buy. Our buyer list has people who buy:

--Turn key, mint condition prime properties

--Buildings with some deferred maintenance, and are a little dated

--Properties that are in rough shape

--Buildings with all ranges of tenants, from dream tenants to nightmare tenants

May 2021 Real Estate Market Report

So, How's the Market?

 

On the Market (Active)

Sold in April

Median Sale Price

Barre City

6

5

$205,000

Barre Town

10

9

$252,000

Montpelier

5

7

$315,000

U32

10

7

$325,000

Nfld/Wmst

11

6

$234,000

Which means there's really only a month or so of inventory in most markets. Many properties are going under contract quickly. This really is a strong sellers' market.

More About April

Drilling down a little deeper, let's look at properties that listed for sale in April. What happened to them? Did they go under contract? Are they hanging around on the market?

 

 

Listed in April

On the Market (Active)

Barre City

11

3

Barre Town

16

4

Montpelier

6

3

U32

11

7

Nfld/Wmst

15

11

(Single family homes as of 5/3/2021)

By far, the properties that listed for sale in April have gone under contract. There are always some that linger. Sometimes they're overpriced. Sometimes they're unique properties that appeal to a more narrow band of buyers. Barre City and Barre Town in particular have been smoking hot. 75% of April's Barre Town listings went into contract in April. Wow.

www.Info@GreenLightRealEstate.com

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

New Service Offered

Do you want to know if there's an actual, real live person out there who wants to buy your house? I mean, someone with a name and an address. Someone who's preapproved (or is a cash buyer). Someone who has made an offer on another house that's very similar to yours. A real buyer.

You can. We have a detailed and honest list of just such buyers.  Check out www.GLREBuyersLookingFor.com and get the full list of what buyers are looking for. Then, if you or someone you know is thinking of selling, just let us know, and we can match buyer and seller. Which is what we're very good at.

Buyers who a clear on what they want to buy, and are ready, willing, and able--you can get on this list! Then we can start actively looking for the exact property that you want, instead of just hoping and waiting that it'll come on the market on its own. And don't worry, we're not putting names out there. 

Call or email Green Light Real Estate  802-225-6425 or info@greenlightrealestate.com to get on this list and to give you an advantage in your home search. 

Here's an example:

 

Barre Town

3-4 bedrooms

Nothing fancy

Good “starter home”

$200,000

Info@GreenLightRealEstate.com

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Quote of the Month

"Why can't we just offer the asking price?

Well, we can. But we're seeing a LOT of multi bid situations, and in those cases, the asking price is really just the starting point for negotiation. The truth is that if you're the only offer, then a great way to get the property is to offer the asking price. 

Free tip! There are times when we won't know if there's more than one offer. That's when you are overwhelmed with joy that you're working with a Green Light Real Estate buyer specialist. If we can't find out for a fact that there's more than one offer, we can usually piece it together. There are clues, if you know what to look for. And we know what to look for.

At the risk of being crass, buying a house today is a bit like nature. To get an "offer" accepted in nature, animals use bright feathers, loud calls, big antlers, loud calls, and flashing abdomens. In real estate, successful offers have flexibility, limits on contingencies, easier terms, and higher probability of closing, as well as a strong price.

Info@GreenLightRealEstate.com

--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------Green Up With Green Light

Thanks to everyone across the state who helped clean up our roadways, waterways, and more on Saturday May 1!

We had dozens of people statewide who took and shared photos with #GreenUpVT21, and Green Light Real Estate is donating over $500 to Green Up Vermont.

As of this writing, the totals for trash and recycling collected and disposed of isn't published. So, let's just say a lot. There were several stretches of road where there was a bright green trash bag every 200 feet or so.

Info@GreenLightRealEstate.com

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

 Speaking of Social

For the latest information about the real estate market in Central Vermont, you've really got to connect with us socially. Like, follow, comment Green Light Real Estate on Facebook and Instagram.

That's where we put information about new listings, recent sales, contests, giveaways, helpful tips, trends, and even some funny stories. 

Info@GreenLightRealEstate.com

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

 

 

 

 

Green Up Day 2021 Contest Rules

 

Contest Rules 

  

NO PURCHASE IS NECESSARY TO ENTER OR WIN. A PURCHASE WILL NOT INCREASE YOUR CHANCES OF WINNING. ALL FEDERAL, STATE, LOCAL, AND MUNICIPAL LAWS AND REGULATIONS APPLY. VOID WHERE PROHIBITED. 

  

 1. Eligibility 

  Green Up Day 2021 (the "Contest") is open to legal residents of Vermont who are at least eighteen (18) years old at the time of entry. Employees of Green Light Real Estate and other companies associated with the promotion of the Contest, and their respective parents, subsidiaries, affiliates and advertising and promotion agencies as well as the immediate family (spouse, parents, siblings, and children) and household members of each such employee are not eligible. The Contest is subject to federal, state, and local laws and regulations. 

  

 2. Sponsor 

  The Contest is sponsored by Green Light Real Estate, located at 17 State St #101,, Montpelier, Vermont 05602. 

  

 3. Agreement to Official Rules 

Participation in the Contest constitutes entrant's full and unconditional agreement to and acceptance of these Official Rules and the decisions of the Sponsor, which are final and binding. Award of a donation is contingent upon being compliant with these Official Rules and fulfilling all other requirements set forth herein. 

  

 4. Contest Period 

  The Contest begins on April 23, 2021 at 12:00 Eastern and ends on May 03, 2021 at 01:01am Eastern (the "Contest Period"). Entries that are submitted before or after the Contest Period will be disqualified. Submissions will be accepted for the duration of the Contest using any of the following methods: 

  

Online 

  

 5. How to Enter 

  Online: This method of entry will be tagging a post on Instagram or Facebook using the hashtag #greenupvt21 and following the directions provided to fill out the entry information, and submit. 

  

  Limit one (1) entry per person, per email address, and per household for the duration of the Contest Period, regardless of method of entry. Entries received from any person, e-mail address, or household in excess of the stated limitation will be void. All entries become the property of Sponsor and will not be acknowledged or returned. 

  

 6. Prize Drawing 

On or about May 03, 2021, the Sponsor will tally the eligible entries received 

  

7. General Conditions 

  In the event that the operation, security, or administration of the Contest is impaired in any way for any reason, including, but not limited to fraud, virus, bug, worm, unauthorized human intervention or other technical problem, or in the event the Contest is unable to run as planned for any other reason, as determined by Sponsor in its sole discretion, the Sponsor may, in its sole discretion, either (a) suspend the Contest to address the impairment and then resume the Contest in a manner that best conforms to the spirit of these Official Rules or (b) terminate the Contest and, in the event of termination, award the prize at random from among the eligible, non-suspect entries received up to the time of the impairment. The Sponsor reserves the right in its sole discretion to disqualify any individual it finds to be tampering with the entry process or the operation of the Contest or to be acting in violation of these Official Rules or in an unsportsmanlike or disruptive manner. Any attempt by any person to damage the website or undermine the legitimate operation of the Contest may be a violation of criminal and civil law, and, should such an attempt be made, the Sponsor reserves the right to seek damages (including attorney's fees) and any other remedies from any such person to the fullest extent permitted by law. Failure by the Sponsor to enforce any provision of these Official Rules shall not constitute a waiver of that provision. 

  

9. Release and Limitations of Liability 

  By participating in the Contest, entrants agree to release and hold harmless the Sponsor, and each of their respective parents, subsidiaries, affiliates, advertising and promotion agencies, other companies associated with the Contest, and each of their respective officers, directors, employees, shareholders, representatives, and agents (the Released Parties) from and against any claim or cause of action arising out of participation in the Contest or receipt or use of the prize (including any travel or activity related thereto), including, but not limited to: (a) any technical errors associated with the Contest, including lost, interrupted or unavailable Internet Service Provider (ISP), network, server, wireless service provider, or other connections, availability or accessibility or miscommunications or failed computer, satellite, telephone, cellular tower or cable transmissions, lines, or technical failure or jumbled, scrambled, delayed, or misdirected transmissions or computer hardware or software malfunctions, failures or difficulties; (b) unauthorized human intervention in the Contest; (c) mechanical, network, electronic, computer, human, printing or typographical errors; (d) application downloads, (e) any other errors or problems in connection with the Contest, including, without limitation, errors that may occur in the administration of the Contest, the announcement of the winner, the cancellation or postponement of the event and/or the flyover, if applicable, the incorrect downloading of the application, the processing of entries application downloads or in any Contest-related materials; or (f) injury, death, losses or damages of any kind, to persons or property which may be caused, directly or indirectly, in whole or in part, from entrants participation in the Contest or acceptance, receipt or misuse of the prize (including any travel or activity related thereto). Entrant further agrees that in any cause of action, the Released Parties liability will be limited to the cost of entering and participating in the Contest, and in no event shall the entrant be entitled to receive attorney's fees. Released Parties are also not responsible for any incorrect or inaccurate information, whether caused by site users, tampering, hacking, or by any equipment or programming associated with or utilized in the Contest. Entrant waives the right to claim any damages whatsoever, including, but not limited to, punitive, consequential, direct, or indirect damages. 

  

10. Disputes 

  Except where prohibited, each entrant agrees that any and all disputes, claims and causes of action arising out of, or connected with, the Contest or any prize awarded shall be resolved individually, without resort to any form of class action, and exclusively by the appropriate court located in Vermont. All issues and questions concerning the construction, validity, interpretation and enforceability of these Official Rules, entrants rights and obligations, or the rights and obligations of the Sponsor in connection with the Contest, shall be governed by, and construed in accordance with, the laws of Vermont, without giving effect to any choice of law or conflict of law rules, which would cause the application of the laws of any jurisdiction other than Vermont. 

  

11. Privacy 

  Information collected from entrants is subject to sponsor's privacy policy. 

 

    Comments

    1. No comments. Be the first to comment.

    Green Up Day News!

    Green Up Day is Saturday 5/1. Now's a great time to start planning for it. 

    I don't have to tell anyone what's great about Green Up Day. Is it fun picking up trash? Actually, kind of. But more importantly, it just gets rid of it. If everyone picks up just a little bit, it makes a humongous difference. I feel like there's a kindergarten clean up song in there somewhere.

     

    This year, Green Light Real Estate is making a donation for every Green Up Day pic that's shared with the social post #GreenUpVT21 or posted to our facebook page. And, if you don't want to be all social, you can also email a pic to Info@GreenLightRealEstate.com.  The lawyers say that rules apply, so make sure to read the previous post about the rules. 

     

    I spoke with Dana Casullo at ABC 22 and Fox 44 (MyChamplainValley.com) about Green Up Day, about why it's important, and about how we're working to support it. Here's a link to the story that recently aired. MyChamplainValley.com, Green Up Day.

     

    There's some great information available to help you start planning. Go to Green Up Vermont's website to find out details about Green Up efforts in your town. You can find out where to pick up bags, how to dispose of them, routes, and more. There's even an app that's super helpful for planning what stretches of roadways are being covered. 

     

    I could go on and on about what's so great about Green Up Day. Maybe I will.

    1. Next time you're out of Vermont, take a look around the roadways. See all that litter? That's what Vermont would look like without Green Up Day. #GreenUpVT21

     

    2. Folks are folks, and I think that Vermonters are just as likely to litter as people in other states. Meaning, that in general, I really think it happens on accident. A receipt blows out the car window. Some recycling blows out of the bin when you're driving to the transfer station. So, actually, I think this is a chance to practice empathy.

    ABC 22 and Fox 44 Story

    3. Let's think about where this all comes from. Last year, on about a half mile stretch of one of the few paved roads in Middlesex, we picked up over 20 coffee cups. It got to be a joke. But what's not funny was thinking about...why? Why is there so much litter/recycling in the first place? Our family got to the question of how people view the waste stream in the first place. Single use containers get thrown away or recycled. And we just saw more than 20 of them on one stretch of road. Instead of cleaning up afterward, maybe efforts could be made to avoid using those in the first place. #GreenUpVT21

     

    4. There's rich irony in the fact that kids will get outside and pick up someone else's recycling and litter from the cold mud, in a ditch on a Saturday morning, but they won't put their clothes in their hamper.

    Green Up Vermont Website

     

    5. It's good for business. We're spokespeople for living in this area. The nicer it looks, and the deeper the sense of community, the better for business, and the better for all of us. Info@GreenLightRealEstate.com

     

    6. Seriously, if people just donate a teensy bit of time, BIG things happen. One person in an hour can make it so that thousands of people don't have to look at litter every single day over the course of years and years. Just get it done, and it's done.

      Comments

      1. No comments. Be the first to comment.

      Top Five Inspection Issues

      Every house is unique, and there's no such thing as a "passed inspection" as deemed by inspector.

      But we've been in enough (hundreds and hundreds) inspections, and worked through the post-inspection negotiations to come up with some guidelines. Here are the most common items that get called out at an inspection. Which means these are also great things for sellers to tackle early in the process.

       

      Sellers: This is exactly the kind of advance knowledge and planning that will help reduce the stress of selling a house, even in this market. Call or email Green Light Real Estate for more info and a detailed selling plan.

       

      1. GFCI Outlets

      You know, those annoying outlets that have a test/reset button, and they click off at inconvenient times. Well, turns out those are safety features. Inspectors look for ground fault circuit interrupter outlets in the kitchen, bathrooms, laundry, unfinished basement, and exterior. So, look around. If you don't have them, get an electrician, or if you're handy, start installing them yourself. 

      You can also use GFCI breakers in the circuit panel. Before you head to Barre Electric or pick up the phone, double check the panel itself to see if those circuits are already GFCI protected.

       

      2. Handrails and Rail Systems

      There are more places that need handrails than you might think. And there are more rules about them than you probably want to know about.

      Basically, anytime you have more than two steps, you're going to want a handrail. Your handrail should be "graspable", which means you can't be a cheapo and just use extra lumber you've got lying around. It's safe to use "breadloaf" style handrails. Look at porch steps, including the back porch, as well as stairs to different levels in your house. You may not want a basement handrail, but the inspector's going to call it out.

      Along the same lines, deck rails and balusters should follow certain guidelines. They should be spaced such that they're not more than four inches apart, and they should be a certain height. This goes for interior and exterior railing systems. 

       

      3. Peeling Paint

      Anywhere you've got cracked, peeling, or deteriorated paint, plan on touching it up. Common areas that come up are windows and window trim, fascia, soffits (the horizontal and vertical faces around the roof), porches, porch floors, garages, and even fences.

      Remember that if your house was build before 1978 there's probably lead paint under all the newer paint layers, and you should use lead-safe practices. In a nutshell, scrape, prime, and paint anywhere your paint is falling apart. I can see you rolling your eyes. But really, if you think about it for a second, that paint's been bugging you anyway.

      Email Green Light Real Estate with questions about selling or buying your house. Let the experts "Green Light" your house.

      4. Furnace and Boiler Service

      We all know that boilers and furnaces are supposed to be cleaned every year. But at a sale, it's actually, going to get done. We see it happen all the time where a buyer asks for a seller to have the heating service serviced after the building inspection.  The negotiations go either way.

      One argument is that servicing the boiler/furnace is just regular maintenance that a homeowner should do, and the seller should do it. Another argument is that it's part of the inspection process, and the buyer should pay for it. How about this for a solution: Sellers--get your systems serviced before every heating season because that's regular safety and maintenance. That takes care of 80% of any negotiation on this item.

       

      5. Oil Tank Inspection

      Every three years an oil tank needs to be inspected by a fuel company or other qualified professional. If it doesn't pass, the fuel company won't put oil in it. Which is a bummer when you want a house to be heated. They'll leave a statement showing that who inspected, when it was inspected, and the results. Tape that right to the oil tank so it's there for the whole world to see.

      If the tank hasn't been inspected, pick up the phone and get it inspected. Sometimes it takes weeks for a technician to be able to do the inspection. 

      Oil tanks aren't cheap. If you have to replace one, plan on it costing $2000 or more. Side note--if your furnace/boiler is pretty old, and if you don't have a metal chimney liner, replacing the whole system with one that burns propane might be something to consider. A tank and a liner could easily run $4000, and a new boiler/furnace might not be too much more than that.

       

      6. Bonus! Water Supply Hoses

      At your washing machine, replace the rubber supply hoses with braided metal supply hoses. You can buy those at Aubuchon, and they're actually very easy to replace.  Those rubber hoses aren't designed to constantly have pressurized water in them. And, unless you're the one person in Vermont who turns off the valves when not doing laundry, you're constantly pressurizing the hoses.

       

      7. Double Bonus!  Steel Lally Columns

      We see them all the time. Those steel screw jack columns in the basement. Well, those are technically supposed to be temporary. Inspectors are going to call them out. They really want to see those columns be concrete filled metal columns (without rust at the bottom, achem), and on a proper base,  or pressure treated lumber on a proper base. "Proper base" does not mean "the dirt floor".

       

       

      One of the kind of sneaky parts is that even if there's no inspection, if there's a loan, an appraiser might look at many of these items, especially 1-5. Low down payment loans such as VA, FHA, VHFA, and Rural Development will specifically task the appraiser to look for these items. And, if found, repairing/replacing these will be required before the loan is issued. There are no requirements for which party has to pay for repairs.

       

      But gee, wouldn't it be nice if, since we know what's going to come up anyway, that sellers knock some of the list down, and that buyers understand they're going to have to put some money into the house before purchase too?

       

      Email Green Light Real Estate with questions about selling or buying your house. Let the experts "Green Light" your house.

       

       

        Comments

        1. No comments. Be the first to comment.

        April 2021 Real Estate Market Report

        April 2021 Real Estate Market Report

        Also known as..."So, How's the Market?"

         

        Well, in a nutshell, the market is fast moving and prices are up. So, if you're selling, the market is good. If you're buying, you're working harder, making quicker decisions, and you probably have a little more stress in your life. 

         

        By the Numbers

         

         

        On the Market (Active)

        Sold Last 12 Months

        Median Sale Price

        Barre City

        6

        91

        $173,000

        Barre Town

        10

        113

        $225,000

        Montpelier

        5

        86

        $269,500

        U32

        10

        130

        $314,000

        Nfld/Wmst

        11

        96

        $212,750

        Waterbury

        3

        65

        $437,500

         

        Which means that everyone out there who's saying "There's no inventory" is right. Six houses for sale in Barre City? That's for sale without a contract on them. Meaning that if you want to buy a house in Barre, you have a grand total of six from which to choose. I looked back at a similar report I wrote in 2018, and there were nearly 30 houses for sale in Barre. Let's not forget that 2018 was a pretty good housing market. As my daughter says, so...yeah.

         

        Don't lose heart, buyers! Green Light Real Estate is really good at helping our buyer clients win multi-bid situations. You certainly don't want to go it alone as a buyer in this market.

         

        Email Info@GreenLightRealEstate for more info, or with any questions.

         

         

        Days on the Market

        Most homes are just not staying on the market long. I took a look at closed sales in March 2021 and compared them with March 2020. Homes are selling in roughly a third of the time it took in March 2020. Again, let's have some perspective. March 2020 sales went into contract in January-ish. So, that was pre-pandemic. That was "normal". And now we're seeing many properties go on the market in days.

        Here's kind of a typical situation. We list a house for sale, and showings begin on Saturday. We might see anywhere from 5-30 showings scheduled for the weekend. And then, we might get 1-5 offers. These are not made up numbers. We had over 40 showings on a Montpelier listing, and over 30 on a Barre City listing. Then, by Monday or Tuesday there's an accepted offer.

        But that's really only if all the work is already done. That's if a detailed, personalized valuation was completed (as opposed to say, taking a price off the internet, or multiplying some goofball factor times the assessed value). I mean real math, based on real experience, and using comparable sales that we've actually been in. It means having quality photography. It means having a well-documented listing. It means preparing sellers for what they need to do and what they can expect. 

        There's actually a LOT of work, planning, and expertise involved in getting a house ready to be on the market, and to get that kind of action.

         

        Seller Tip

        It's pretty common for buyers to have a radon test done as part of the inspection process. But we're recommending that our seller clients have radon tests done either before listing, or while their home is listed. Why? Because a radon test needs a "closed environment" for at least three days. That means doors and windows stay closed. That's fine now. It's a balmy 43 degrees as I write this. But in another month, it's going to be hot. 

        So, to keep your sanity, and to keep turning into a wilted mess, do the radon test now. Then, you can simply give the results to a buyer while you live in lovely comfort. 

        These are the little things that are really good to think about when you're selling your home in Vermont.

         

        Thinking of selling? Email Info@GreenLightRealEstate,com or call 802-225-6425

         

        Investing in Real Estate

        We've been collecting really interesting numbers about average rents, particularly in Barre. You can get the full, detailed breakdown of rents for one, two, and three bedroom apartments (heated and unheated) by address at www.BarreMultiFamily.com, or just email Green Light Real Estate and we'll send it to you.

        1 bedroom heated: $837

        2 bedroom heated: $928

        3 bedroom heated: $1098

        However, lest you think that the rental market is uniform, the rents vary pretty widely based on location and condition. Location, location, location matters just as much for apartments as it does for houses.

        Many investors have been reaching out to us to help them add to their holdings, and many have also asked us to help them value, market, and sell their multifamily properties. If you or a friend wants to buy or sell multifamily, send them our way. We can definitely help.

         

        Here's a link to recent multifamily sales.

        And here's a link to multifamily properties that are currently for sale. Yep, you can buy these!

         

         

        Green Light Real Estate News

        Two big moves that have always been part of the intermediate plan have taken shape over the past couple of months. We opened our Northfield office right on the Common, between Subway and Carrier Roasting Company, and two doors down from Good Measure Brewing. Lindsay Ericson is the managing broker of the Northfield office. 

         

        We also opened our Barre office. Located on the second floor of the Blanchard Block overlooking Youth Triumphant, and right next to City Hall and the Barre Opera House. If you haven't spent time in the renovated building, you really should. It's a beautiful space, and we've got great neighbors. Kate Root is the managing broker of the Barre office.

         

        Honestly, with both of these, the locations are tough to beat, and we know that Lindsay and Kate are going to do great things! 

         

         

         

          Comments

          1. No comments. Be the first to comment.

          2020 End of Year Report

          2020 End of Year Report

           

          Ok, I’ll just say it. 2020 was a strange year, in nearly every imaginable way. Happy to talk about the thousand other things that are on people’s minds. But, here, we’re just going to talk about real estate. Mostly.

           

          Sales were up. Sale prices were up. Land sales and $500,000 property sales were way up. It’s true that there were a lot of out of state buyers. But there were also a LOT of in state buyers.

           

          Median Sale Price

          Here’s what everyone wants to see. What the heck happened in 2020, compared to 2019. Well, it was kind of bananas. Median sale prices, and the change from year to year were through the roof.

           

           

           

          % Change 2019-2020

          Barre City 12.82%
          Barre Town 14.11%
          Montpelier 7.42%
          U32 16.42%
          Northfield/Williamstown 15.24%
          All Towns 15.53%

           

           

          The numbers round out considerably when we look at the number of sales over the past five years. In every submarket, there were more sales in 2020 than in 2019. U32 and Barre Town saw a LOT of action. For fun here, we can compare the five year trend as well as the one year trend.

           

            2016 2017 2018 2019 2020

          Barre City

          89 90 89 88 93
          Barre Town 79 109 89 86 111
          Montpelier 87 94 73 73 81
          U32 76 84 83 94 114
          Northfield/Williamstown 61 68 77 88 90
          All Towns 392 445 411 429 489

           

           

          Median Days on Market

          We thought 2019 was a great year for shorter days on the market. And it was. But 2020 sped things up even more. With the exceptions of Barre City and Montpelier, every other market saw shorter days on market in 2020 than in 2019.

           

           

          % Change 2019-2020

          Barre City 25.00%
          Barre Town -41.46%
          Montpelier 20.00%
          U32 -52.17%

          Northfield/Williamstown

          -25.71%
          All Towns -35.90%

           

          And, in real terms, this is what the median days on market numbers looked like. I find it interesting that Barre Town, U32, and Northfield and Williamstown are all so closely clustered. I’m not reading anything into that. It’s just interesting.

           

            2016 2017 2018 2019 2020

          Barre City

          88 67 42 44 55
          Barre Town 49 75 29 41 24
          Montpelier 43 35 40 10 12
          U32 68 49 60 46 22
          Northfield/Williamstown 66 54 45 35 26
          Total 61 55 43 39 25

           

           

          Multi-Family Report

          2020 was an active year for residential multi-family properties. Here we’ll focus on Barre City and Montpelier, which are the two most active multi-family towns in Central Vermont. And, truth be told, the bulk of the activity is in Barre City.

          Here the number that jumps out is the number of sales. It increased steadily from 2016-2018 and then almost doubled from 18 to 35 sales in 2019. The market held that elevated number of sales in 2020.

           

            Total Number of Sales
          Barre City

          15

          Barre Town 18
          Montpelier 18
          U32 35
          Northfield/Williamstown 31

           

          Looking only at duplex sales, there’s a clear increase in per unit sale price over the past five years. Barre City’s price per unit saw a really nice bump in 2020.

           

            Barre Price Per Unit (Duplex) Montpelier Price Per Unit (Duplex)
          2016 $66,225 $95,000
          2017 $67,750 $124,000
          2018 $41,750 $113,375
          2019 $52,500 $135,000
          2020 $63,250 $115,000

           

           

          Land Sales

          This is the first year that we’ve included data on land sales in Washington County. And, yes, it’s because 2020 was just a weird year. Historically, land sales are pretty stable. But not in 2020!

           

          Washington County  2016   2017   2018   2019   2020   % Change 2019-2020
           Number of Land Sales 85 85 85 90 151 67.78%
           Median Days on Market 176 194 223 139 137 -1.44%

          Look at the massive jump in land sales. 67%? Are you kidding me?? I figured you wouldn't need a graph to drive this point home. But you know what, why not.

           

           

           

          $500,000+ Sales

          And what would the real estate world of 2020 be without yet one more oddball data point. In Washington County, in 2020, the number of sales of properties $500,000 or higher more nearly doubled. The number of sales of $1 million properties increased by almost 50%, but that was only from 7 sales to 10 sales.

          Washington County 2016 2017 2018 2019 2020 % Change 2019-2020
          Number of Sales 30 28 39 55 104 89.09%

           

          Again, can you picture something almost doubling? 

           

           

          Gratitude

          And last, thank you to all of our clients, past clients, friends, and supporters. In 2020, Green Light Real Estate helped with more than 190 sales (not quite 200) and more than half of those came from past clients, people who know us personally, and referrals. It means a lot when people make the effort to recommend that their friends work with Green Light Real Estate!

           

           

          Breaking News: Green Light Is Opening a New Office in Northfield

          After years of being one of the leading real estate brokerages in Northfield, the time was right for us to expand and open an office in Northfield. 

          Green Light Real Estate's Northfield office is right between Subway and Carrier Roasting Company, and a couple doors down from Good Measure and Cornerstone. So, basically, we're right next to a lot of wonderful food and beverage.

          Lindsay Ericson, who has been with Green Light Real Estate since 2016, and a broker since 2018 will lead the office. She's sold more than 140 properties in that time, and has the experience and know-how to help buyers and sellers navigate transactions. In 2020, Lindsay also took an additional leadership role at Green Light Real Estate as a trainer for new agents. Her professional designations include Accredited Buyer Representative (ABR), Military Relocation Professional (MRP), Pricing Strategy Advisor (PSA), and At Home With Diversity (AHWD). We love having her on the team, and we know she's going to be successful as the "broker in charge" in Northfield.

          Northfield's real estate market is unique among Central Vermont towns. Norwich University staff and faculty, as well as students are a big component of the market. The schools, local businesses, and the proximity to Barre, Montpelier, and even the Mad River Valley also play into the desirability of living in Northfield.

          We expect to be open and running full steam by the end of January. In the meantime, we're busy helping buyers and sellers in Northfield as well as throughout Central Vermont. Whenever you have questions or just want to talk about real estate, give us a call.

          Green Light Real Estate is locally owned, and not a franchise. We're a team of highly skilled, energetic, fun, and smart real estate professionals who really like what we do. The team includes Ray Mikus (owner, principal broker), Lindsay Ericson (broker), Hannah Dawson (broker), Kate Root (broker), Lauren Gould (agent), Mattie Dube (agent), Jacob Goss (agent), Marina Carleton (agent), Kevin Casey (agent), and Maria Lamberti (office manager). Plus, there's Pistachio (our team mascot, who happens to be a wooden dog).

           

          18 Liberty Street in Montpelier For Sale Under $300,000!

          There aren’t too many houses like this, and under $300,000 is even more rare.

           

          This three bedroom, two bathroom Montpelier cape is right in the heart of the town. It’s in a desirable neighborhood where neighbors are more like friends. Liberty Street in Montpelier is super convenient to downtown, to the library, shopping, the elementary school, and the middle school.

           

          Yes, the lot is small, at .06 of an acre. But it sure seems bigger than that. It’s surprisingly private for being tucked back off the road, and the yard is level, landscaped, and gets lots of sun.

           

          Plus 18 Liberty Street has a gorgeous covered front porch, so you can hang out and enjoy the outdoors even when it’s raining. Great for morning coffee or tea, an evening socially distanced hangout with friends, or just reading a book and catching a few moments of quiet.

           

          The house has been nicely renovated, and has an open first floor layout with kitchen, dining area, and living room all flowing together. The kitchen isn’t huge, but it has new Corian countertops, new cabinets, and new appliances. Plus, it opens into the rest of the first floor, so the cook can still be part of the conversation.

          For more information, email Ray@GreenLight-RealEstate.com

          A first floor bedroom and a bathroom round out the first floor of 18 Liberty Street.

          View on Google Maps - 18 Liberty Street.

          Upstairs are two nice bedrooms, one larger than the other, a laundry room, and a flat out gorgeous full bathroom. The bathroom is bigger and nicer than you’d think, at this price point of under $300,000 in Montpelier.

           

          And of course, there’s the finished third floor! Lots of uses for this space. It could be a learning room, a studio, an office, or it could just be great storage. However you use the space, just having it is huge.

           

          18 Liberty Street is tucked between 16 and 20, and is accessed via a right of way.


          We all know that there hasn’t been much for sale in Montpelier, that’s in good condition, is in a good location, and is under $300,000. For more information or to schedule a private showing, email Ray@GreenLight-RealEstate.com, or call/text at 802-279-2403.

            Comments

            1. No comments. Be the first to comment.