Ray Mikus

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%


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


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? 




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.


    1. No comments. Be the first to comment.

    Buyers: Here's What To Expect At The Inspection


    Buyers: Here's What To Expect At The Inspection


    Congratulations! You’ve done it! You found your house, you made a solid offer, and you won the contract. 


    Photo by Tierra Mallorca


    Now, it’s time to really focus on the inspection.

    As a buyer, you may have gone through the inspection process before, but it never hurts for a refresher. And if you’re a first time buyer, you definitely need to know what to expect.

    1. The‌ ‌inspector‌ ‌is‌ ‌going‌ ‌to‌ ‌go‌ ‌over‌ ‌everything‌ ‌about‌ ‌the‌ ‌house--the‌ ‌roof,‌ ‌the‌ ‌attic,‌ ‌the‌ ‌electric,‌ ‌the‌ ‌plumbing,‌ ‌the‌ ‌windows,‌ ‌the‌ ‌basement,‌ ‌the‌ ‌heating‌ ‌system,‌ ‌and‌ ‌more.‌ ‌Everything.‌ ‌It’s‌ ‌a‌ ‌great‌ ‌opportunity‌ ‌to‌ ‌really‌ ‌get‌ ‌to‌ ‌know‌ ‌the‌ ‌house‌ ‌you’re‌ ‌buying.‌ ‌And‌ ‌it’s‌ ‌a‌ ‌great‌ ‌opportunity‌ ‌to‌ ‌ask‌ ‌questions‌ ‌from‌ ‌a‌ ‌professional.‌ ‌

    2. Plan‌ ‌on‌ ‌it‌ ‌taking‌ ‌three‌ ‌hours.‌ ‌Smaller‌ ‌houses‌ ‌may‌ ‌take‌ ‌less‌ ‌time.‌ ‌And‌ ‌houses‌ ‌that‌ ‌are‌ ‌in‌ ‌really‌ ‌good‌ ‌condition‌ ‌tend‌ ‌to‌ ‌take‌ ‌less‌ ‌time.‌ ‌But‌ ‌still,‌ ‌plan‌ ‌on‌ ‌three‌ ‌hours.‌ ‌Maybe‌ ‌even‌ ‌bring‌ ‌a‌ ‌snack!‌ ‌

    3. Some‌ ‌of‌ ‌the‌ ‌inspection‌ ‌is‌ ‌outside,‌ ‌and‌ ‌a‌ ‌lot‌ ‌of‌ ‌it‌ ‌is‌ ‌in‌ ‌the‌ ‌basement.‌ ‌Wear‌ ‌appropriate‌ ‌footwear‌ ‌and‌ ‌clothes.‌ ‌Also,‌ ‌it‌ ‌never‌ ‌hurts‌ ‌to‌ ‌bring‌ ‌a‌ ‌flashlight.‌ ‌

    4. Write‌ ‌down‌ ‌specific‌ ‌areas‌ ‌of‌ ‌concern‌ ‌beforehand.‌ ‌Even‌ ‌better,‌ ‌talk‌ ‌with‌ ‌your‌ ‌Green‌ ‌Light‌ ‌Real‌ ‌Estate‌ ‌agent,‌ ‌and‌ ‌put‌ ‌a‌ ‌list‌ ‌together.‌ ‌That‌ ‌way‌ ‌you‌ ‌won’t‌ ‌forget‌ ‌what‌ ‌you‌ ‌really‌ ‌wanted‌ ‌to‌ ‌ask.‌ ‌

    5. Much‌ ‌of‌ ‌what‌ ‌you’ll‌ ‌hear‌ ‌during‌ ‌the‌ ‌inspection‌ ‌are‌ ‌“problems”.‌ ‌That’s‌ ‌completely‌ ‌normal,‌ ‌inspectors‌ ‌have‌ ‌a‌ ‌tendency‌ ‌to‌ ‌focus‌ ‌on‌ ‌things‌ ‌that‌ ‌aren’t‌ ‌perfect.‌ ‌Don’t‌ ‌freak‌ ‌out!‌ ‌

    6. And,‌ ‌when‌ ‌you‌ ‌get‌ ‌your‌ ‌report,‌ ‌usually‌ ‌in‌ ‌2-3‌ ‌days,‌ ‌also‌ ‌don’t‌ ‌freak‌ ‌out.‌ ‌The‌ ‌report‌ ‌will‌ ‌have‌ ‌dozens‌ ‌to‌ ‌hundreds‌ ‌of‌ ‌photos,‌ ‌and‌ ‌can‌ ‌be‌ ‌100‌ ‌pages‌ ‌long‌ ‌or‌ ‌longer.‌ ‌They’re‌ ‌thorough.‌ ‌But‌ ‌stay‌ ‌calm.‌ ‌There’s‌ ‌rarely‌ ‌anything‌ ‌in‌ ‌the‌ ‌report‌ ‌that‌ ‌you‌ ‌didn’t‌ ‌see‌ ‌at‌ ‌the‌ ‌actual‌ ‌inspection.‌ ‌

    7. You’re‌ ‌the‌ ‌only‌ ‌person‌ ‌who‌ ‌gets‌ ‌the‌ ‌report.‌ ‌The‌ ‌seller‌ ‌doesn’t‌ ‌get‌ ‌it.‌ ‌

    8. After‌ ‌you‌ ‌have‌ ‌the‌ ‌report,‌ ‌there‌ ‌may‌ ‌be‌ ‌some‌ ‌re-negotiation‌ ‌with‌ ‌the‌ ‌seller.‌ ‌There’s‌ ‌nothing‌ ‌that‌ ‌the‌ ‌seller‌ ‌‌has‌‌ ‌to‌ ‌do.‌ ‌But‌ ‌if‌ ‌there‌ ‌are‌ ‌items‌ ‌that‌ ‌came‌ ‌up‌ ‌that‌ ‌were‌ ‌surprises,‌ ‌then‌ ‌it’s‌ ‌common‌ ‌for‌ ‌buyers‌ ‌to‌ ‌ask‌ ‌sellers‌ ‌to‌ ‌make‌ ‌minor‌ ‌repairs‌ ‌or‌ ‌concessions.‌ ‌Remember,‌ ‌that‌ ‌if‌ ‌it’s‌ ‌a‌ ‌hot‌ ‌market,‌ ‌and‌ ‌properties‌ ‌are‌ ‌selling‌ ‌fast,‌ ‌you‌ ‌might‌ ‌have‌ ‌less‌ ‌leverage‌ ‌as‌ ‌a‌ ‌buyer‌ ‌than‌ ‌in‌ ‌a‌ ‌slow‌ ‌market.‌ ‌ ‌

    9. Sometimes‌ ‌inspectors‌ ‌recommend‌ ‌bringing‌ ‌in‌ ‌additional‌ ‌professionals.‌ ‌Your‌ ‌Green‌ ‌Light‌ ‌Real‌ ‌Estate‌ ‌agent‌ ‌may‌ ‌have‌ ‌already‌ ‌talked‌ ‌with‌ ‌you‌ ‌about‌ ‌this.‌ ‌If‌ ‌the‌ ‌boiler‌ ‌looks‌ ‌really‌ ‌old,‌ ‌then‌ ‌you‌ ‌don’t‌ ‌need‌ ‌an‌ ‌inspector‌ ‌to‌ ‌tell‌ ‌you‌ ‌to‌ ‌have‌ ‌it‌ ‌investigated‌ ‌by‌ ‌a‌ ‌heating‌ ‌contractor.‌ ‌

    10. Inspectors‌ ‌won’t‌ ‌usually‌ ‌give‌ ‌estimates‌ ‌for‌ ‌repairs.‌ ‌However,‌ ‌we‌ ‌know‌ ‌from‌ ‌experience‌ ‌what‌ ‌a‌ ‌lot‌ ‌of‌ ‌the‌ ‌more‌ ‌common‌ ‌repairs‌ ‌cost.‌ ‌And‌ ‌we‌ ‌can‌ ‌always‌ ‌get,‌ ‌or‌ ‌help‌ ‌get‌ ‌estimates.‌ ‌

    11. If‌ ‌the‌ ‌house‌ ‌doesn’t‌ ‌have‌ ‌any‌ ‌surprises,‌ ‌it’s‌ ‌ok‌ ‌to‌ ‌simply‌ ‌accept‌ ‌it‌ ‌as‌ ‌is,‌ ‌and‌ ‌move‌ ‌forward.‌ ‌There’s‌ ‌no‌ ‌such‌ ‌thing‌ ‌as‌ ‌a‌ ‌perfect‌ ‌house.‌ ‌Just‌ ‌like‌ ‌there’s‌ ‌no‌ ‌perfect‌ ‌car‌ ‌or‌ ‌no‌ ‌perfect‌ ‌job.‌ ‌At‌ ‌Green‌ ‌Light,‌ ‌we’ve‌ ‌been‌ ‌on‌ ‌hundreds‌ ‌of‌ ‌inspections.‌ ‌Something‌ ‌‌always‌ ‌comes‌ ‌up.‌ ‌But‌ ‌they‌ ‌usually‌ ‌aren’t‌ ‌deal‌ ‌killers.‌


    We’re‌ ‌here‌ ‌to‌ ‌help‌ ‌point‌ ‌out‌ ‌what’s‌ ‌really‌ important, what you can probably live with, and what’s not a big deal at all. Remember, the goal is to get you into the house that you love, and protecting you along the way.


    Call 802-225-6425 and speak with any of our awesome agents and brokers

    Or email Info@GreenLight-RealEstate.com.

    You can also follow us on FacebookInstagram or check out our listings on www.GreenLight-RealEstate.com


    Can't get enough? We get it, that's why we also made this easy to digest Youtube video on the topic. Enjoy!




      1. No comments. Be the first to comment.

      Out of State Lenders and Title Companies

      Out of State Lenders and Title Companies

      It’s great to have choices. But sometimes there are too many, and it makes making good choices hard. Here’s an example of what happens when you try to save a buck.


      We had a property listed for sale in Barre. When the offer came in, we negotiated, worked through the inspection, appraisal, everything. Honestly, it was a pretty straightforward transaction for the first month of escrow.

      But...the buyer (not our customer) chose to work with an out of state lender, and an out of state title company. That’s where things got complicated.

      The lender and the title company couldn’t, or wouldn’t, communicate with each other. They both sent emails to the buyer’s Realtor and to me saying that they couldn’t reach the other. That made zero sense, but it led to many delays.

      After a few emails where we were told “We just need this one more thing…” everything looked ready to close. But the title company wouldn’t schedule a closing date. Days passed. A week passed, and neither the lender nor the title company would agree to a closing date.

      Then, magically, we got an email that we were closing on Friday. This was on Tuesday. So, in three days, all the documents had to  be prepped, prorations calculated, documents reviewed, travel arrangements made, clean out of the house completed, and more. (My daughters and I spent a Friday evening cleaning out the basement and throwing things away.)

      Josephine and Willoughby helping clean out the basement on a lovely Friday evening.


      Since it was an out of state operation, and since we’re doing remote closings these days, we had to figure out the logistics of signing. The seller side, which was Green Light Real Estate, had things lined up, documents signed, power of attorney in place. The title company never told the buyer how much he needed to bring to closing, or that it needed to be in a cashiers check. They didn’t give any instructions to the notary public they hired to oversee signatures.

      Since instructions hadn’t been given, the buyer showed up without funds. We worked for three hours with an out of state deposit institution, and out of state lender to get funds transferred by wire. That turned out to be an impossibility. 


      Closing started 15 minutes ago...but I was the only one here.


      Closing was delayed, and the buyer couldn’t move in until Monday. I’m not sure if the buyer saved any money on fees. He probably didn’t. But he did get to pay for a weekend of hotel, additional missed time from work, additional fees for moving, and massive stress.

      I’m not saying that things always go perfectly smoothly with local lenders, but having a three hour closing and still not closing for two more days created a huge problem for the buyers. With a local lender, we could have talked with an actual person we know, and sort out problems. A local attorney would have known how to handle the situation, and not put everything in crisis mode.


      So please, please...make things easier on yourself when you’re buying or selling real estate in Central Vermont. Use a local lender. Use a local attorney.


      Call Green Light Real Estate at 802-225-6425 and speak with any of our awesome agents and brokers

      Or email Info@GreenLight-RealEstate.com.

      You can also follow us on FacebookInstagram or check out our listings on www.GreenLight-RealEstate.com


        1. No comments. Be the first to comment.

        How Does 2020 Stack Up?

        How Does 2020 Stack Up?

        The last few months have been, shall we say, unusual.

        Let's see how 2020 compares to years past.


        Photo by Francesca Tosolini


        Why does it seem like the market is so hot? Because it is. The number of new listings is way down. But the number of houses that have gone under contract is way up. Supply and demand!


        Side note: Hey Sellers! We have been hired by MANY buyers to help them buy a house. Call us, and we can play matchmaker.


        Almost all of that shortage in new listings has taken place in April and May:



        And, almost all of the runup in houses getting into contract has taken place May 1-June 15:



        You're not going crazy. It's a REALLY tight market right now in Central Vermont. The best thing to do is to get an expert from Green Light Real Estate to help you find, negotiate, and buy in this market. And don't worry, should you get stuck in a multi-bid situation as a result of this hot market, we've got your back.


        Call our office at 802-225-6425, email Info@GreenLight-RealEstate.com or get in touch with any of our awesome agents and brokers

        You can also follow us on FacebookInstagram and check out our listings on www.GreenLight-RealEstate.com


          1. No comments. Be the first to comment.

          How to Win a Multi-Bid Situation

          How to Win a Multi-Bid Situation

          When the market is hot, which it is right now, buyers have to have a few extra tricks up their sleeves to get the house they want.

          Photo by Scott Graham


          Here are some good strategies to use to help when you’re in a good old fashioned bidding war:


          • Be prepared! Have your pre-approval letter in place. You can even get a couple letters, say in $25,000 increments. Then you can give whichever one makes the most sense with your offer. Also, it can help to be working with a local bank. Many sellers and listing agents would prefer to be working with a lender they actually know and not a cog in a wheel in a massive lending operation in Michigan or Texas (and yes, I’m talking about you--Quicken and USAA).


          • Come strong and come hard. Make your best offer, knowing that you may have to pay above the asking price. When you go on a first date, do you dress up and plan just enough to keep someone interested? Or do you go above and beyond? This not the time to do the bare minimum.


          • Reign in those contingencies. In a multi-bid situation, the fewer contingencies, the better your offer looks. You don’t have to get rid of the inspection contingency, but you could limit it in terms of the items to be “contingent”, a dollar figure, shortening the time frame, or more. 


          **Bonus tip! Don’t think that you’ll be able to do significant post-inspection negotiations. If there were three offers, it’s pretty likely that the other two are still looking for a house.**


          • Write a love letter. Hey, it helps sometimes. Tell the seller what you love about their house, and a little about yourself.


          • Show them the money. Make a big deposit. Or, make it non-refundable at a certain point. Or, how about sharing your credit score, your employment history, even some of your financial records with the sellers so they know that you’re able to buy their house. For that matter, give them your resume. They’ll get to know you. And maybe that professional network will help you.


          • Use an escalation clause. Promise to pay more than another offer. Best to talk this strategy with your Green Light Real Estate agent, because sometimes this confuses sellers and sellers’ agents. It’s not really that complicated, but still.


          • And the best...don’t have a bidding war! Your agent can just call the sellers’ agent and ask “Hey, these people want to buy the house. What will it take for the sellers go with them?” Honestly, it might be another $5000, or that the seller gets to leave the basement furniture. Big deal! If you get into a bidding war, you’re easily paying that much more anyway. Plus that bidding war is a zillion times more stressful.


          These are just a few ways to help buyers get the house in a hot market.


          For more details, more strategies, and more ways to make sure that you get your house,

          call 802-225-6425 and speak with any of our awesome agents and brokers

          Or email Info@GreenLight-RealEstate.com.

          You can also follow us on FacebookInstagram or check out our listings on www.GreenLight-RealEstate.com


          Can't get enough of this multi-bid info? We get it, that's why we also made this easy to digest Youtube video on the topic. Enjoy!




            1. No comments. Be the first to comment.

            Mortgage Help: Fannie and Forbearance

            Mortgage Help: Fannie Mae and Forbearance


            There is no denying that the slowdown / shutdown from COVID-19 is goinig to have very real impacts on people's finances. Loss of income and drawing down of savings may make it challenging for some to make their mortgage payments. And for others, who are at risk for foreclosure, the fears can be even greater right now.


            Here's a link to Fannie's website with the hows and whats of mortgage forbearance.


            Fannie Mae has made it possible to get some help with paying your mortgage. No, they won't pay it for you, but you may be able to postpone payments for up to 12 months. You actually have to be proactive to use this resource.


            Here's a link to more information and directions on what you need to do.


            The gist is that if, due to economic hardships related to COVID-19, you may be able to delay making mortgage payments, and that might really take a lot of stress out of an otherwise stressful time.


            Have further questions? Feel free to contact us via email at info@GreenLight-RealEstate.com or via phone at 802-225-6425.


            From all of us at Green Light Real Estate,

            be well, stay safe, and take care of those around you.

            We're getting through this together.


            Follow us on Facebook, Instagram or check out our listings on www.GreenLight-RealEstate.com


              1. No comments. Be the first to comment.

              COVID-19 and Foreclosures

              COVID-19 and Foreclosures


              It's always been true that one of the leading causes of foreclosure is getting sick. Another leading cause is losing one's job. 


              Combining a pandemic with an economic shutdown can cause massive strain on a family's financial position. And adding the fear of losing your house to foreclosure in the midst of all of it might just be too much.


              To help, Fannie Mae has made changes in how foreclosures are being handled: They're being paused for 60 days. We're not completely sure what the economy will be like in 60 days (for the country or for any individual household), but this can at least give some temporary assurance that people aren't going to be kicked out of their homes.


              Here's a link to more information and details from Fannie Mae.


              This doesn't mean that you don't have to pay the mortgage eventually, or that if you're on the path to foreclosure during those 60 days that foreclosure proceedings won't pick back up.


              If you think you're on the path to being foreclosed, PLEASE contact Green Light Real Estate. There may be things that can be done to help. Maybe your house is worth more than you think. Maybe there is a buyer who could move quickly with the price you need. Maybe your house is a good candidate for a short sale. We help people in situations like this all the time. You just have to ASK. And, maybe there isn't anything that can be done. Maybe the house is going to be foreclosed on. But you'll at least have done everything you could.

              You can contact us via email at info@GreenLight-RealEstate.com or via phone at 802-225-6425.


              From all of us at Green Light Real Estate,

              take care of yourself and those around you.

              We're getting through this together.


               Follow us on Facebook, Instagram or check out our listings on www.GreenLight-RealEstate.com


                1. No comments. Be the first to comment.

                Workaround for COVID-19


                Fannie and Freddie Give Appraisers

                a Workaround for COVID-19


                In a move to help move purchases, sales, and refinances through the system, Fannie Mae and Freddie Mac have issued new options for appraisers. Here's a video explaining some of the workarounds:




                Typically, appraisers would need to do an interior and exterior inspection of the house that's being bought or refinanced. The new rules allow for exterior only inspections so that appraisers don't need to go inside the house. The inspection is accompanied by "desktop underwriting" in which appraisers use other sources of information and databases to get more information about particular houses as well as the local area.


                Here's a link to Fannie Mae's site with more information.


                At Green Light Real Estate, we think this is a great idea. It is up to individual banks and credit unions as to whether they will allow this, and individual lenders may have additional requirements for this workaround. In general, this should help move transactions forward, and help prevent the inevitable backlog of appraisals and loan underwriting that will happen when the COVID-19 slowdown has ended.


                We are cooperating fully with appraisers and lenders. Honestly, we spend so much of our professional lives researching real estate, and we have several databases at our disposal to help answer questions about property. We also have great relationships with the different town clerks who are keys to getting supplemental property information. The point is, we're doing whatever we can to keep peoples' transactions moving forward. Because at the end of the day, what people really want is to get into their new house, or to finalize the sale.


                Be well, stay safe, and take care of the people around you.

                We're getting through this together.



                 Follow us on Facebook, Instagram or check out our listings on www.GreenLight-RealEstate.com


                  1. No comments. Be the first to comment.