Barre real estate market

May Market Report

May Market Report

 

Photography by Ted Dawson

  Active Under Contract Average Sale Price (last 12 mos) # of Closings last 12 mos Average Days on Market
Barre City

42

21 $137,215 88 79
Barre Town 29 13
 

$205,046

89 62
Montpelier 15 15 $263,376 72 69
U32 37 12 $238,587 83 119
Northfield/Williamstown 31 11 $212,905 78 67


 

  New Listings April 2019 Sales/12 Absorption Rate (# mos of inventory)
Barre City 16 7.33 5.73
Barre Town 6 7.42 3.91
Montpelier 8 6.00 2.50
U32 11 6.92 5.35
Northfield/Williamstown 10 6.50 4.77


Buyers are out there ready to buy, and it would be just lovely if there were a few more homes for sale. Especially in Barre Town and Montpelier. With just 2.5 months of inventory in Montpelier, and under four months of supply in Barre Town, those two are very clearly “sellers’ markets”.

 

Experts use six months of inventory as the threshold between a buyers’ market and a sellers’ market, which puts all of the Central Vermont markets solidly as sellers’ markets.

 

Buyers are being successful when they make solid offers, and when they have realistic expectations about inspection items. Even in this market, sellers need to price their homes correctly and be realistic about their home’s condition.

 

Are you in the market to buy or sell? Get in touch! Call us at (802) 225-6425

 

 

Should I buy or should I rent?

Should I buy or should I rent?

 

 

 

Ah yes, the time honored question. Should I buy or should I rent? If only it were that easy. A lot goes into that question, and a lot of it is long term, down the pike kinda thought.

 

But some of it is right in front of you.

 

The first question is...do you want to own a house or be a tenant? When you own, you have a type of freedom that renters don’t have. You can get a dog and paint the walls. You can plant your own garden and pick whatever type of towel rack you want. You can invest in energy efficient improvements and even change the layout. The list goes on and on. These are all choices that you get to make when you own.

 

Independence and Security

Many people report a sense of independence when they own. Especially, those who are first time buyers. Your entire life, you have had to ask if it’s ok to do something with your living space. That changes when you own. You don’t have to ask anyone (but if you live with at least one other person, it’s probably a good idea to at least talk about what’s happening with your house.)

 

Additionally, many renters feel a greater sense of security when they buy a house. A landlord can choose to raise rent, undergo renovations, or even sell the property. And there’s that a tenant can do about it, so long as the landlord is following the terms of the lease.

 

Sure, it can seem as if your landlord loves you. Maybe you even have a slightly below market rent because you’ve been there so long and you have a great relationship. But at the end of the day, as soon as the landlord decides to sell, you may be looking at finding a new place to live. 

 

As long as you pay your mortgage and taxes, when you own real estate you can stay there as long as you want.

 

Monthly Expenses

Which brings me to what I know you’re really reading this for. Does it make sense financially to buy a house, or is it better to rent?

 

Over time, financially, it almost always makes better financial sense to own than to rent. There are a few reasons for that.

 

Rent Check Vs. Mortgage Check

One is that if you have a fixed rate mortgage, your monthly payments will only go up as property taxes and insurance go up. In Vermont, that means that if your town votes to increase the budget, your tax bill is going to go up. So, if your property taxes went up $350, then you’d have to pay an extra $30 each month.

 

Many landlords increase by 2% to 3% (or more) each year anyway. But what happens if your landlord realizes that they could charge 10% more and still keep tenants? Your $1000 monthly rent just went up by $100. And what are you going to do about it? Well, you’re either going to pay it, or you’re going to move out. 

 

And guess what? If the place your renting should really be renting for could fetch $1100, then you’re going to have to pay that somewhere else. Either that, or you’re going to move to a place that’s not as nice, or not as desirable a location for you.

 

But when you own, no one’s going to unexpectedly jack the rent on you.

 

Maintenance, Repairs, Utilities

I’ll admit, one of the most awesome things about renting is that you’re not responsible for most repairs and maintenance, or for some utilities. It’s kind of nice to have someone else cover that for you.

 

But, ready for a dirty little secret? Most maintenance isn’t really that hard. And you can usually plan for the big things that come up (See blog post: How long do things last, and how much do they cost?)

 

You can learn to fix a toilet, change an outlet, repair handrails, and all sorts of light carpentry. And honestly, if you really don’t want to, you don’t have to. You can hire someone to bang those things out. There aren’t too many things in a house that really need to be repaired at three in the morning. (See blog post: repairs that you have to make at three in the morning, and how to avoid having to do them by planning ahead)

 

Get the furnace checked, pump the septic tank, keep an eye on the roof, hit peeling paint when it comes up. Those are normal maintenance items that you get to perform. And in return, you get...

 

Appreciation

Yeah, this is the fun part. You bought your house, and you’ve kept it up. Home values go up and down in cycles, but over the long term, residential real estate has appreciated at around 3% annually. Which means if you just kind of keep your house in decent shape, your $200,000 house is likely to be worth around $268,000 in ten years. So, in appreciation alone, you’d have an additional $68,000 in net worth.

 

If, instead, you had rented for those ten years, your real estate net worth would still be, hmmm, let’s do the math here...zero.

 

And yes, I know that you could have taken the difference in monthly payment, maintenance, repairs, etc. and put it in a savings account or invested in a mutual fund. But would you? Really? Really??

 

Mortgage Pay Down

You would also be paying down your mortgage each month. At first, just a teensy part goes to paying down principal, but those decreases add up. In those ten years, your original $200,000 mortgage would be down to $162,000 (assuming a 30 year loan at 5% interest). 

 

Which means you just tacked on another $38,000 in net worth.

 

Which also means that in ten years, your net worth increased by over $100,000. While it’s not all about money and net worth, all things equal, most people would prefer to have an extra $100,000.

 

Summary

If you can, it almost always makes financial sense to buy instead of renting. You get independence and security. You can account for the hassle of ownership by following a regular maintenance and repair schedule, or hiring someone to do it for you. Over time, market appreciation and mortgage pay down will add to your net worth.

5 Ways to Prepare for your Home Sale

5 Ways to Prepare for your Home Sale

(all under $1000!)

 

 

If you’ve got a year or two before you’re selling your house in Vermont, then go ahead and tackle some bigger projects. Update the countertops, redo the old carpeting, paint the exterior, etc. But for this post, we’re talking about things that you can do pretty quickly, and for not a whole lot of money. 

(Author’s note: This was written to people selling houses. But items 2-5 apply to homeowners as well, and you’ve probably already done the first item. These will help you enjoy your home, keep it ready for resale, and allow you to look past some relatively inexpensive cures when buying your home in Vermont.)

 

The truth is that it almost always costs a little money to get your house in top form for a quick, best -sale (bonus: these tips will help your escrow close more smoothly, meaning less stress, less uncertainty, and less “yuck” factor.)

 

1. Get a professional home inspection, including a radon test, (and, if you’re on well and/or septic), get the water tested and the septic tank pumped and inspected. Who knows what you’ll find on that report. Maybe nothing. Maybe your house is like one of those people who exercises all the time, has great genes, and eats a plant-based diet. Kind of annoyingly perfect.

 

If that’s the case, then we’d have documentation from a third party to back that up. Sometimes the report itself is enough to give a buyer peace of mind.

 

But more often, things will come up. Usually little things. Usually things that if you really think about it you might have thought needed to be addressed anyway. Then, here’s the fun part, you just get those things fixed and updated. It’s as easy as that!

 

2. Clean the H out of your house. I mean EVERYTHING. Dust the baseboards, clean the oven (there’s a button for that on the oven, so that’s not really that hard…), get rid of the cobwebs in the basement, mop the floors. Everything. And then keep it spotless. 

 

If you’re like many people, cleaning your house isn’t your favorite thing. Hire a cleaner. Simply getting some help once a week or every couple of weeks will make a humongous difference. Between cleanings, it’ll be a lot easier to spot clean or pick things up before showings

 

Plus, you’ll probably really like not having to wipe down a bathtub. And your house will look awesome.

 

3. Paint the interior. Ok, maybe you don’t need to paint every room. But if it’s been two or three years since a room or hallway has been painted, just do it. It’s stunning the difference that a coat of paint (yes, it may take only one coat, if you’re not changing colors) makes.

 

Painting is one of those homeowner skills that seems easy. Be honest with yourself. If you stink at painting, or your edges look like the silhouette of a mountain range (you know who you are!), get a professional. True, that’ll cost more than $1000, but it’s worth it.

 

And on paint...color trends change over time. Light is always a good choice. White is always a good choice. Stay away from the dark greens and dark reds that were popular in the 1990s and early 2000s. And please stay away from pastels. If white walls are boring to you, pick one wall in a room as an accent with a more fun color. But, honestly, you can liven up a room with a colorful print or painting just as easily, and you’ll be much less likely to hear a buyer say, “I just don’t know about that color!”

 

4. Update your lighting. Again, fashions and styles change. If it’s been 10 years since you have changed light fixtures, you now have permission to change them. This isn’t the place to be super cheap (says a guy who’s been called cheap before. ) Yes, I know you can buy a $10 ceiling fixture from a hardware store. But don’t. I mean, if that’s truly all your budget allows, then do it. You’ll be able to find stylish fixtures for $40-$50, or more.

 

As an exception--if your house is older and has older (but cool) lights, keep them. Here I’m talking the 1930 Craftsman lights or period wall sconces.

 

Chrome and brushed nickel are popular now. Rubbed bronze, brass, and gold look dated. Track lighting works, but not the ones from 1980. Your Green Light Real Estate agent can give you honest advice on what looks good and what needs updating. We also work with interior designers and stagers whose ideas and visions will blow you away! 

 

And while you’re at it, spend another $100 and replace any switches, outlets, and cover plates that are old or dirty. Plain white ones from the hardware store work just fine here.

 

5. Tie up any loose ends around your house. Just about everyone has a list in their head containing repair or updates they’ve always wanted to do, or projects that need to be finished. NOW is the time to do that. 

 

That might mean hiring a contractor or a handy person. Maybe you took the project as far as you could go, and then realized you were a tiny bit in over your head. (I’m looking at you, baseboards that didn’t get coped, but instead only butt jointed). 

 

Common things to fix include loose caulk, cracked tiles, dangling wires, stains on carpet, unpainted patch jobs, etc. Usually these are little things. But we’re all busy. While it might take a contractor a couple hours to finish, it might take you a full day. Which means Saturday. Which means you miss a day with your family or hanging with your friends. Which feels REALLY expensive. 

 

So, commit to doing it, or commit to getting someone to do it. Either way, that “to do list” needs to get done.

 

Taking on these five relatively inexpensive repairs and improvements will reap huge rewards when you sell your home in Vermont. Routinely, we see that homes with few inspection concerns, updated lighting and paint, no deferred-maintenance, and that are super clean sell faster. They sell for higher prices. And they are much more of a “sure thing” when they get into contract. 

 

For more information or, for a personalized pre-selling walk through with a real estate professional, call, text, or email Green Light Real Estate, right here in Montpelier.

 

 

December Market Report--Montpelier, Barre Area Real Estate

The December Market Report is Here! 

AKA: So, How's the Market?

 

By the Numbers

 

On the Market (Active)

Sold Last 12 Months

Avg Sale Price

Barre City

39

90

$136,958

Barre Town

32

92

$202,923

Montpelier

22

74

$260,053

U32

46

80

$251,853

Nfld/Wmst

35

73

$213,216

 

 

So We Can Help You Even More

In November, several Green Lighters attended the annual conference for the National Association of Realtors.

We took sessions related to getting more exposure for our seller clients, improving client service, increasing the effectiveness of buyer consultations, and of course, marijuana and real estate. Because why not! Six of us attended the conference, taking in dozens of hours of training and education from world-class presenters.

 

 

Winter is a Great Time to Buy a Home!

Because…

-Many sellers are motivated to strike a deal.

-Escrow can close faster as inspectors and appraisers are easier to schedule.

-There are fewer buyers to compete with.

-You can see the real story behind your new commute. And your new driveway.


Go to www.GreenLight-RealEstate.com and read the full article in our blog.

 

 

Green Light Real Estate has 13 core values that we live and work by.

One is “We choose to be happy and not to bring troubles to work.” This ensures that no matter what’s happening in the world, or our worlds, when we work with buyers, sellers, and each other, we choose to be happy.

We don’t let negativity bring us down, and we don’t let setbacks keep us down. That keeps transactions moving forward, and, as importantly, makes it fun to come to work each day!

 

 

Market Slice!

How long are homes taking to sell? Different towns tell different stories, but all the information is interesting!

 

 

Avg Days on Market 2018

Which was faster than 2017 by:

Barre City

80

33%

Barre Town

68

38%

Montpelier

77

-1%

U32

130

1%

Nfld/Wmst

74

28%

1/1/2017-12/1/2017, and 1/1/2018-12/1/2018

Homes in Montpelier actually took 1% longer in 2018 than 2017, but by just a tiny amount. There, there, it’ll be ok.

Easy-ish Projects For Even the Least Handy Homeowners

7 Easy-ish Projects That Even the Least Handy Homeowners Can Do

As in...me. I might not be the least handy homeowner, but I'm in the running. Having said that, here are seven projects that just about anyone can tackle in a weekend with a couple simple tools, a bit of creativity, and a few hours.

I'm grinning as I'm writing this, thinking about the removable wallpaper for accent walls!

Here's the link to the whole article, from Realtor.com. but if you don't have 45 seconds to read that short article, here's a summary. Yes, a summary of a 45 second article.

1. Update your kitchen backsplash.

2. Install a smart thermostat.

3. Create an accent wall with removable wallpaper.

4. Create extra storage.

5. Give hardware and fixtures a fresh look.

6. Swap out your showerhead.

7. Wait for it...Apply a fresh coat of paint.

Maybe I'll see you at Allen Lumber, Aubuchon, or Nelson Ace Hardware soon...

 

Four Reasons Why Winter is the Perfect Time to Buy a Home in Vermont

Four Reasons Why Winter is the Perfect Time to Buy a Home in Vermont

We've all heard it. "No one buys a home in Vermont in the winter." Well, then apparently we've all heard things that aren't true. I believe Kellyanne Conway has a term for that sort of thing, but that's a different topic altogether!

First, the facts. From December 1, 2017 through February 28, 2018 (so, last winter), 51 homes went under contract in Washington County. 51 homes sold in Vermont in winter 2017That means that 51 buyers and sellers got together with a contract and said, "Yep, we've got a deal." I want to make a fine point here--that's not 51 sales. Those properties would have closed a month or two later, after the close of escrow. But buyers and sellers came together to reach agreement in winter. (And, anecdotally, Green Light Real Estate just put one seller client in contract  in Duxbury on 11/27/18, and one buyer client into contract in Montpelier on 11/28/18. 2017 wasn't some weird flukey winter.)

Granted, spring and summer are busier. But if you were one of those 51 buyers, you were psyched. Same as if you were one of those 51 sellers! Psyched.

Now, the four reasons why winter is the perfect time to buy a home in Vermont

 

1. Motivated Sellers. Some sellers are actually more motivated to strike a deal in the winter. It can start to feel like a real drag with heating, plowing, and maintaining a home in the winter. Especially if the seller doesn't want to be there or the house is vacant. Someone selling a home in Vermont can do some quick calculations as to what it costs to carry the house each month, and that caBuying a home in winter in Vermont with less competitionn be motivating!

2. Less Competition. All those other buyers who think that no one buys in the winter may have removed themselves from the game. Fewer buyers means less competition, which again can lead to lower sales prices or some other concessions that a seller might make to entice a buyer.

 

 

3. Faster Closing. With fewer transactions working through the system, lenders, inspectors, and appraisers tend to have more time on Can Close Faster Buying a Home in Vermont in Wintertheir hands. Where it might have taken two weeks to get an inspection in June, it might only take three or four days in December. Same with appraisals. In the summer, it can take three weeks for an appraiser to get to the house, and another week or two to get the report to the lender. When there's a litttle more wiggle room in the calendar, that can take much less time. Which means that it's realistic to actually close on your Vermont home in less time!

 

4. Getting the Real Story. Seeing a house in the winter might show you the house at its worst. The driveway, the walkway, the road up to Buying a house in winter in Vermontthe house. In May when everything is warm and dry, that perfect home at the top of the hill looks dreamy. Covered in snow, it might look a little different. It can be helpful to at least think about that. True story: My wife and I made an offer on the house we live in now at the open house in May. Turns out the road had just beeng graded. We didn't think anything of it. After that first winter and mud season, we realized we needed to get rid of the two wheel drive car and get four wheel drive. 

Check out this video that I took a couple years ago going down our road in Middlesex in Mud Season. If we had looked at the house in March, we may not have bought it. But we're 100% glad that we did buy it!

 

And yes, we would have bought the house anyway, cuz it's awesome and we loved it . But we maybe would have had one less surprise!

 

There you go, four reasons why it's ok, and perhaps advantageous to buy your home in Vermont in the winter.

 

For more information, details about properties currently on the market, or those coming onto the market soon in Montpelier, Barre, Northfield, or other towns, call or email.

 

 

 

Lovely 4 Bedroom Barre City Cape for Sale--53 Camp Street

  • By
  • Posted

The tasteful and substantial four bedroom home at 53 Camp Street in Barre is something that we just don't see everyday this market.

Four big bedrooms, including three on the second floor, and one on the first floor. Great cape design (with modern design touches such as large rooms, deep dormers, and spacious closets). It was built in 1987, so we have newer electric and other systems, but that classic cape design that people love.

Big, eat-in kitchen with lots of cabinets and counter space. There's even an island to hang around at and enjoy friendly conversations, or a quick snack. Updated appliances too! For more elegant dinners, just move over to the formal dining room, complete with hardwood floors and bright windows.

There's a living room, plus a very comfortable family room that opens right up to the big and private back yard. I have a feeling you'll be spending a lot of time either in this family room or outside in the yard! 

That yard is the crowning glory of 53 Camp Street. Originally designed as four city lots, the city assessor has told the owner that two lots could be built upon. So, if you wanted to change the configuration, you could. Or, and hear me out, you could keep the .72 acre lot all to yourself. Completely ringed with trees and shrubs, it's private, flat, and grassy. It's a park just for you!

Updates include a new architectural shingled roof and a new boiler. Yes, the hard things (and the expensive things) have been replaced and updated. You get to make your cosmetic choices to make this place your own!

 

Open House! 80 Abbott Avenue in Barre. Sunday 7/10 from 11:00 to 1:00

 


   

       

80 Abbott Avenue, Barre, VT


                   
                   
OPEN HOUSE
                                    July 10, Sunday 11:00 AM - 1:00 PM
                                   
                           

               

                           

                       

               

 

                            
                           

 

                            
                           

 

                            
                           

 

                            
                           

 

                            
                           

 

                            
                           

 

                                           


           

                           

$ Click for current price
5 BEDROOMS | 3 (1 full, 2 ¾ bath )  BATHROOMS | 3537 SQUARE FEET


                           

                   

 

A house this beautiful doesn't get built accidentally. Someone thought "We want big bright rooms, big bedrooms, a private backyard. Oh, and we want something with STYLE too!" This five bedroom mid-Century has it all. Enjoy the large living room with a fireplace, and the four big bedrooms. The fifth is a normal-sized bedroom. Built-ins in most rooms, including the dining room. The layout is great for everyday life, as well as for entertaining and hosting. Spread out into the finished basement, complete with a wet bar, a half bath, and its own fireplace. Spread out even further to the private ...

 


               

                   

       

           

               
           

           

               

Presented By:


                                   

                               

                                           
                                               

Ray Mikus


                       


                            Owner/Broker
                           Green Light Real Estate
                           802-225-6425
                           Office: 802-279-2403
                           Licensed In: VT
                                                   


                                                               
  •  
  •                                                            

  •                                     Link on Facebook
                                   
  •  
  •                                                                                                                    

  •                                     Connect on YouTube
                                   
  •  
  •                                                                                                            

                                   

                Schedule a Showing/Request Info

           
 

       

                   

               

                           

           

 

533 Cummings Road--Open House! Sunday July 10 from 11:00-1:00

 


   

       

533 Cummings Road, Barre, VT


                   
                   
OPEN HOUSE
                                    July 10, Sunday 11:00 AM - 1:00 PM
                                   
                           

               

                           

                       

               

 

                            
                           

 

                            
                           

 

                            
                           

 

                            
                           

 

                            
                           

 

                                           


           

                           

$ Click for current price
3 BEDROOMS | 2 (1 full, 1 half )  BATHROOMS | 2172 SQUARE FEET


                           

                   

 

**MOTIVATED SELLER**32+ acres of private land, yet minutes to town. Fertile, well drained soil (plate work completed) make this property excellent for any type of farming. Roughly 10 open acres (in hay as well as mature nursery stock) and a hobbyist's sugar bush with sugar shack. The house is a beautifully built contemporary farmhouse with high ceilings, tons of windows, and a large front porch.  Built in 1999, it doesn’t leave much to be desired.  There is a loft area (with skylights!) and a third floor that could be completed to create a 4th bedroom or whatever else your heart desires.  The property is complete with a large equipment barn, greenhouse, and chicken coop. Equipment may be available for separate purchase. Perfect property for small agriculture, horses, livestock, pets, and more. Great opportunity to have a peaceful, private, newer home, with great fields, and close to town.

 


               

                   

       

           

               
           

           

               

Presented By:


                                   

                               

                                           
                                               

Ray Mikus


                       


                            Owner/Broker
                           Green Light Real Estate
                           802-225-6425
                           Office: 802-279-2403
                           Licensed In: VT
                                                   


                                                               
  •  
  •                                                            

  •                                     Link on Facebook
                                   
  •  
  •                                                                                                                    

  •                                     Connect on YouTube
                                   
  •  
  •                                                                                                            

                                   

                Schedule a Showing/Request Info

           
 

       

                   

               

                           

           

 

How's the Market? July 2016 Market Report

  • By
  • Posted

Real Estate Market Report for Montpelier, Barre, Northfield, U32

Green Light Real Estate

 
 

On the Market

Sold Last 12 Months

Currently Under Deposit

Barre City

70

77

15

Barre Town

49

99

18

Montpelier

35

82

25

U32

68

62

18

Northfield

24

44

5

Totals

246

364

81

IMG_2013.JPG

This is good staging. People smile when they walk into a house like this.



IMG_0905.JPG

This is bad staging. It just is.

This Central Vermont market is giving all signs of a strong sellers’ market. With an inventory ranging from 3.6 months in Montpelier to 10.9 months in Barre City we see that homes in some markets tend to move faster than in others.

 

Takeaway:

Buyers--be ready to move fast and make strong offers.

Sellers--Price right, and solve any problems beforehand. Everyone will be happy.



 

Quick Facts--Washington County

Average Days on Market 142 Days

Average List Price: $224,737

Average Sale Price: $215,033





 

Welcome to the Team!

Lindsay 2016 resized 1.jpg

Lindsay Ericson has joined Green Light Real Estate as a Buyer Specialist.

 

Lindsay has years of experience in financial services and management in Florida and Vermont, and is already getting great reviews from her buyer clients.

 

“Thanks for working hard for us. I’ve bought two houses in the past, sold one, and I haven’t had a Realtor work this hard before.   I appreciate it.”

 

We do too! Lindsay joins Brian Steinmetz, Marina Carleton, and Ray Mikus, along with Administrative Assistant Maria Lamberti.

Well, Vermont had to be in at least one category with Montana and Wyoming…(Source: National Association of Realtors)

 

Congratulations to all our buyers who took advantage of our May and June promotion. Several savvy buyers got $500 from Green Light Real Estate to pay for some of their closing costs.

 

And, a shout out to Wanda at Academy Mortgage, for matching our promotion with an additional $500 for buyers working with Academy.

The Crystal Ball: We get a lot of calls from people who don’t want to sell their homes.

 

Yet. It’s really smart to think ahead. If you're thinking that next year is the year, talk with a Realtor, make a plan, get some numbers and put yourself in a great position to sell for the best price NEXT year.

 

We can help with inspection items, appraisal issues, improvements, and staging. Give yourself all the advantages!

Call, text, email, or just stop into our office to find out how much your house is worth.

 

Or to have a FREE consultation and make a strategy for finding, and BUYING your new home.

 

Get a plan. Get a house. Pretty simple.

Green Light Real Estate is locally owned. We don’t have headquarters in Texas, New Jersey, or Connecticut. Um, actually, we don’t have headquarters. But you can stop into our office on State Street.

 

Our core values include being creative, intelligent, fun, and energetic. We’re open minded and love trying new ideas.