Blog :: 2020

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.

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    Impact of the Pandemic on the Housing Landscape in Vermont

    Impact of the Pandemic on the Housing Landscape in Vermont

    August 2020

    Photo by Mika Baumeister

     

    I was recently asked to be a presenter to Governor Scott’s Community Solutions and Local Recovery task force.  A version of this detailed report was shared with many state and local leaders, including regional planning directors, leaders of non-profits, leaders of statewide businesses, and more. 

    Figured everyone else might be interested in it too.

     

    Methodology

    First, These numbers are statewide, and come only from sales reported through the New England Real Estate Network (the MLS), and they reflect only Realtor-assisted transactions. They do not include FSBO data, as that data is VERY difficult to come by. The latest statistics, published by the National Association of Realtors, show that nationwide 89% of all sales are Realtor-assisted, so this should be representative.

     

    Second, we’re not talking about SALES here, but rather CONTRACTS. This is so that we examine market conditions in the very near past.  Similarly, we’re not talking about SALE PRICES, but LIST PRICES. It can take two months or longer for the close of escrow. Looking only at sale prices would only allow us to study buyer and seller behavior going back to April or May. Using Contracts, we can see what is happening through the end of July.

     

    And last, these numbers are for single family homes (except one section about land). It’s not commercial or multi-family properties. However, it was not possible to determine if these are going to be owner-occupied, if they will be primary residences, if they were bought by people from out of state, or why buyers bought them.

     

    Number of Single Family Homes AUC (Active Under Contract) 

    Looking at Jan-July over the past five years, the 2020 numbers aren’t unheard of. But they are significantly higher than we’ve seen since 2017. The 40% increase over Jan-July 2019 is remarkable.

     

    Drilling down a little deeper, let’s talk about what happened month by month. Comparing to 2018 and 2019, January and February 2020 contracts were up almost 20%, signalling a busy market, with lots of activity. As Realtors, we were getting ready for a great spring market.

     

     

    2020 looked exactly like the average of 2015-2019 for January and February, in terms of new contracts on single family homes in Vermont.

     

    March and April saw significant decreases in the number of contracts. In May, enough ground was gained that we were in the exact place as we were the past few years.

     

    But that steep growth curve just kept continuing. In June we were 58% ahead what we would have expected for a “normal” June. And in July we had 136% more contracts than a “typical” year.

     

     

    New Listings

    The astronomic increase in the number of contracts in June-July coincided with a dramatic decrease in the number of new listings (homes that are newly available for sale).

    January through March 2020 looked similar to the previous five years in terms of new listings. That curve is relatively flat, ranging from 1600 to 2300 new listings.

     

     

    Again, the April-July period was starkly different, representing a 74% decrease compared to the five year average. See the graph below.

     

     

    So, we had much fewer houses coming on the market for sale. And simultaneously we had many more houses going into contract for purchase. Supply and demand is doing what it does, and buyers are having a hard time finding houses. Multi-bid situations are very common, and we have a lot of frustrated home buyers.

     

    Remember that when someone sells, they usually still need to live somewhere else. So the sellers who are happy to get multiple bids often experience the same frustration and friction when they try to buy their next house.

     

    Sales by price range

    I looked at contracts written across $50,000 intervals. Over the past three years, the number and the percentage of sales across different price ranges. Across the board, the activity appears consistent.

    Until you get to properties listed at $1 million and above. Since 2015, those sales have been between .5% and 1.5% of each month’s sales (Jan-July). In June 2020, that moved to 2.2%, and in July a whopping 5.16% of contracts were for single family homes listed at more than $1,000,000. (43 out of 833).

     

     

    Another way to look at the data is that since March, the percentage of million dollar contracts has increased by nearly 300% as compared to the previous five years. Again, without going through each town’s land records, it’s not possible to say where these buyers came from, or whether they are the buyers’ primary residences. Additionally, this market activity is unlikely to be spread evenly throughout the state.

    Land sales

    The number of parcels of land that went into contract in the period Jan-Jul increased by roughly 65% in 2020 compared to the same period in 2015- 2019.

    In 2015-2019, January through July, the average number of pieces of land that went under deposit was 649. In 2020, there were 1068. Without going to each town clerk and reviewing the property transfer tax returns, it’s impossible to say if these were bought by Vermonters or out of state residents, or if they were bought by people planning on moving here.

     

     

    I also want to make clear that there’s no way of determining why there was this huge increase. There are infinite motivations. Those motivations have existed over the past five years as well. However, the Covid-19 pandemic has coincides very neatly with several huge changes in the Vermont real estate market.

     

    Out of state buyers? The elephant in the room.

    As a broker, nearly everyone I’ve talked with over the past few months has wanted to talk about out of state buyers. Everyone has a story, and there have been several articles full of anecdotes and one-offs used as examples to prove a point.

     

    The only way to know with certainty is to go to the town clerk in each town in Vermont, and search through the Property Transfer Tax Returns, or alternatively, for each town to digitize or otherwise collate that data. Incidentally, digitization of land records would reduce the need for Realtors and attorneys to do in-person title research, perhaps reducing the chances for spreading viruses.

     

    While we can’t say with certainty that there has been a surge in out of state buyers, we can say that since 2015, the average number of contracts from May-July has been 1087. In 2020, there were 1844 contracts, which is an increase of nearly 70%. This number is not explained by “pent up demand” of buyers deciding not to purchase in March and April.

     

    Anecdotally, our office in Montpelier has not seen a “surge” in out of state buyers. We always have out of staters. Now, as in the past, they remain people who had been planning a move beforehand, are moving for work, to come back to be closer to family, etc. 

     

    But all of these new buyers are coming from somewhere. It could be that they are Vermonters buying second homes, or buying single family homes as investments. It could be that there is a surge in apartment vacancies as renters are deciding to buy. But clearly, the most logical reason appears to be that there has been significant out of state activity.

     

    Further Observations and Questions

     

    Internet access as critical

    In March, when schools shut down, and people who could work from home had to work from home, it became very clear, very fast, that having reliable high speed internet was critical. We’ve heard the stories of the “digital divide” between those areas and those houses with these utilities, and those without. Often those stories describe, or allude to rural areas. Poorer areas, remote areas, and the “colder hollows” that The Eye on the Sky talks about. It’s important to remember that there are households across all income lines that either don’t have reliable cell service or high speed internet.

     

    Lack of high speed internet is actually preventing some home sales. Many buyers are immediately dismissing houses that don’t have reliable high speed internet.  Buyers are now very attuned to the present and future realities of working and schooling remotely, and are not settling for subpar internet. Gone are the days when buyers were satisfied with, “Yes, you can usually watch Netflix, except it’s a little spotty when there are clouds, or when other houses are already on.” 

     

    Now, they know they want (or need) the ability for each adult in the house, and each child in the house to be on a Zoom call at the same time. Our brokerage has started using “Zooms Per House” as an informal measurement of internet quality. And “one” or “zero” isn’t cutting it. This effectively decreases the value of property, as a direct result of the pandemic. This forfeiture of value (equity and net worth) affects the affluent who have second homes as well as the working class and poor whose only avenue for homeownership (or renting) was outside the areas with reliable, high speed internet. Property owners in communities and areas that have worse internet connectivity are going to pay a very real monetary penalty in terms of equity and when they sell their homes.

     

    Housing Market as an Ecosystem

    What will happen if the economy doesn’t recover? Will it be more difficult for purchasers in the lower ranges to qualify for loans? Will $150,000 starter homes be able to be sold? Those $150,000 sellers are the $250,000 buyers. Which free up the $350,000 buyers. But if the lower priced homes can’t sell, that will ripple through the housing market.

     

    How Will Landlords Respond to the Effects of the Pandemic?

    How will landlords respond? If economic uncertainty continues, or worsens, how will landlords weather non-payment of rents? Will they increase dependency on tenants with housing assistance to get what looks like guaranteed rent? Will they look to improve their units to attract higher income tenants (who are often information workers who can work remotely), and increasing rents?

     

    Will this change the way people think about entering into nursing homes?

    Will this change how people think of nursing homes and assisted living? If seniors are uncomfortable going into nursing homes, will they stay in their houses? How will they get the care that they need? Will that cause a choke point in the real estate market? Any choke point ultimately affects first time buyers.

     

    We know that nursing home facilities are doing great work in providing safe, comfortable care for seniors. I would be interested in knowing if there are any changes in the number of people entering into nursing homes, since the pandemic began in March. If the number has declined, then where are these seniors living? Most likely still at home. If concerns over the safety of nursing homes exists (and/or continues), and seniors put off selling their homes, that could disrupt the “normal” cycle of home sales and apartment vacancies, decreasing the supply of housing at different price points.

     

    Closing Thoughts

    Data shows us that contracts are at very high historical rates and that new inventory is coming on very slowly.  Data shows us that the number and percent of million dollar homes going into contract is three times what it has been in recent years. Contracts for land have also spiked. It’s getting harder for everyone to be able to buy a house in Vermont. As with most troubles in this world, what is an annoying inconvenience to those at the top can be catastrophic to those at the bottom.

     

    Buyers are focusing on internet access and cell coverage, which is a trend I firmly believe will continue long past the pandemic. Very few people in transactions seem to be concerned about what the near future will bring. Confidence and trust are very high, which is great for business. That also shows that people tacitly have faith that policy makers, business leaders, and community leaders can keep the economy, the housing market, communities and families and individuals strong and healthy.

     

    That was a lot of information! Any questions? Want to discuss? Get in touch.

     

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

    Or email Info@GreenLight-RealEstate.com.

    Make sure to follow us on FacebookInstagram and check out our listings on www.GreenLight-RealEstate.com

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      How Does a Buyer's Agent Get Paid?

      How Does a Buyer's Agent Get Paid?

       

      Photo by Jesus Kiteque

       

      There are two main ways that I get paid for the

      professional services and solutions that I provide.

       

      Buyer Broker Fees Paid By Seller: 

      First, when you buy a house, I get a commission. The commission is usually a percentage of the sale price, and I get that at the closing at the same time that you get your keys to your new home.If a property is listed for sale on the Multiple Listing Service, then that seller has almost always agreed to pay my fee themselves. 

       

      With a house that’s a “for sale by owner” we always start by asking the seller to pay the buyer brokerage fee. Most of the time they do. If they don’t, then you may be asked to make up a difference. Most importantly, none of this will surprise you. We’ll know what terms we’re dealing with before we have you in contract on your new home.

       

      Introductions and Referrals:

      The second way that I get paid is through introductions to people you know who are looking to buy or sell real estate. The numbers change from year to year, but on average 65%-70% of my clients come to me by word of mouth and by personal or professional referral.

       

      Benefits to You:

      When you introduce me to those people, and recommend me, then that frees me to spend more time providing top tier professional solutions to my clients, and less time calling and emailing internet leads (it might surprise you to know there are so many people named “Mickey Mouse” in Central Vermont).

       

      The more time that I’m able to spend scouting properties, negotiating, and problem solving for my clients, the happier they are.  It also shows that you care, that you wanted them to have the best experience, and not just pick someone off the internet and have them show a house.

       

      So, I’ll ask from time to time who you know that I should talk with, who could use my help.

       

      Benefits to the Community:

      Green Light Real Estate will also make a contribution to a group, charity, or organization of your choice when you introduce your friends, family, and coworkers to us. We’ve made donations to school PTOs, child care centers, the food shelf, the American Cancer Society, domestic violence relief groups, little league baseball, and many more organizations.

       

      When you recommend me, I’ll send a reminder note asking which group you’d like Green Light Real Estate to support.

       

      Have more questions about the home buying process?

       

      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

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        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!

         

         

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          Kylie Klopchin: Success Story

          • By
          • Posted

          Success Story

          Photo by Ted Dawson

           

          Being a Realtor can be a stressful job that demands your attention at almost every hour of the day. because some things will need your immediate attention, sometimes it can be hard to be a great on-demand agent when you are at home having family time, or just even just relaxing. That being said there are times that you get a phone call that is not just a potential client, but is also a cry for help. I know that “cry for help” sounds a bit extreme for a real estate related situation, but this story is in fact about a cry for help.

           

          I picked up my ringing phone and answered with my pleasant office greeting “Hello this is Kylie. How can I help you?” The voice I heard back was a woman’s voice that sounded confused. She needed help but didn’t really know where to start. So she called me. “I need help selling a house… I have a buyer but the bank is telling me it needs to be listed with an agent before I can sell it.” 

           

          She was definitely right to call Green Light Real Estate. But if she had a buyer, why would she need to list the house? Well that’s where it gets complicated. The family had filed for bankruptcy and thought for the past two years they were caught up. They thought the mortgage had been part of the bankruptcy. Turns out that there was a misunderstanding, and they were still responsible for the mortgage, but hadn’t been paying for the last year. They had no knowledge of this, and their home, which was also the childhood home, was at risk of becoming a foreclosure. 

           

          I asked them how I could help and what they needed me to do. They explained that they didn’t want this to linger any longer and that the bank needed an agent to price it at fair market value so it could receive as much as possible for the property. The home was officially in a short sale status. 

           

          I met them at the house a few days later and we talked about the hardships they had faced. This was a sad turn of events because that it is a family home, and their hopes of finally getting this off of their shoulders were fading. We agreed to stop wasting time, to get it listed, and to get going on it! 

           

          After a few days of running to the Town Clerk’s office, taking photos, pricing the home and the talking to different contact people at the bank, we were ready to get it listed. As soon as it was listed, the calls started to come in. The house was in rough shape because no one had lived there in a long time. There was definitely investment potential and flippers were interested. Because she had a buyer who had been trying to buy for a year, we received an offer almost immediately and submitted it. I was working with the sellers as well as helping the buyer, but the bank wanted the buyer to be represented. I have good working relationships with lots of area Realtors, so I was able to connect the buyer with a different agent, one whom I know, like, and trust. After a few rounds of negotiations, we were in an accepted contract. 

           

          A short sale is an entity all its own, and a complex transaction. The amount of paperwork to confirm everyone is who they are, the number of people involved, and the sheer number of documents to be precisely prepared, signed, and notarized took massive chunks of time. It took multiple trips around several towns to collect paperwork and signatures to keep the transaction on track. We were in the final process to closing. 

           

          To make a long story short, we went to closing after several months of waiting for the bank to work the numbers, hundreds of emails and countless miles driven to make this all come together. After the closing I received a huge hug from the seller. She told me that I had no clue how relieved they were and that they couldn’t have done it without me. The weight of the last few years had been lifted. They needed to work on getting their lives back on track, and now they had the opportunity to do so!

           

          Here’s what the sellers had to say following the transaction:

          “Kylie is amazing! We were in a kind of complicated situation and had pretty much lost hope but then we found Kylie. She was always very helpful and went above and beyond to help us get our house sold. I highly recommend Kylie for whatever your housing needs or situation might be. She will get the job done and will do it with a smile even when things look bleak. Kylie and her colleagues are absolutely wonderful!”

           

          Sometimes my job can just be fun finding someone a first home or selling their home to move into their forever home. However, sometimes I can actually answer a literal cry for help and get people get their lives back on track. And that feels good.

           

          Who do you know who’s thinking of making a move? They can be as complicated as this one, but they don’t have to be...Give me a call or email, and I promise to take great care of them!

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            Green Light Core Value #2

            Core Values: #2

             

            At GLRE we have a set of core values that keep us focused on why we’re Realtors, how we treat our customers, and what the community means to us.

             

             

            When I first started as an agent, in 2009, I asked a colleague, friend, and veteran Realtor (Charlie Clark) what did he like best about being a Realtor. Without missing a beat, he said it was the friendships. At the time, I thought that was just a friendly thing to say over Manhattans.

             

            But it’s true. At Green Light Real Estate, we’re not only friends (family even?) with each other, but we’ve become friends with lenders, appraisers, inspectors, contractors, Rita who delivers the mail, Sam at Pho Thai Express, and more.

             

            It’s really common for our customers and our clients to become our friends too. During a transaction, we get to know a lot about people’s lives. Which makes sense when you think about it. For those couple months, buyers and sellers spend more time with and more time talking to their Realtor than just about anyone else in their lives.

             

            Here are some recent examples of sincerely caring about the people in our community:

            We recently had buyers who were interested in keeping an AirBnB gig going, but they couldn’t because they didn’t have a property manager. Well, I happen to know someone who does just that. So, we made the introduction. That helps the buyers, the sellers, and the manager. And it comes from sincerely caring.

             

            We have another transaction where the seller’s situation changed dramatically from when she got into contract. The best thing for her to do was to not sell the house. While some real estate brokerages might have tried to talk her out of that, we changed gears and, in our client’s best interest, worked at unraveling the sale so she wouldn’t have to sell.

             

            Our company holiday party this year was at Twin City Lanes. Why? Because with kids, bowling, laser tag, and the arcade is more fun than just dinner! We’re all a big family, and all ages of the Green Light family had a great time. 

             

            Just this week we even had a company virtual happy hour. I know everyone’s lives are busy and unpredictable. Even so, many of the Green Lighters took time out of their days to have a social hang with our colleagues.

             

            The list goes on and on. It’s great to keep “good news” in mind. At Green Light Real Estate, our core value of “sincerely caring” makes sure we’re doing the right things, and we hope, makes people’s lives just that much better. 

             

            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

             

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              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

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                Lindsay Ericson: Success Story

                A Job Well Done

                Photo by Ted Dawson

                 

                Steve and Patty came to Green Light Real Estate to list their home for sale.  They had a beautiful cape in Montpelier, and were downsizing to move in with family nearby. They had seen our signs all over town and knew we were the brokerage to hire! We got together a few times to sort out the details, work through the valuation, schedule the photographer, and agree on strategy, and were excited to get their property listed on the MLS.

                 

                After a few showings, an offer was accepted and they were beyond ecstatic - but we still had some contingencies to get through. We worked together to get inspection items addressed, including some electrical work that needed to be done in order to satisfy the buyers' lender and a couple other miscellaneous items. We made a plan to get these issues resolved, and got it done.

                 

                Steve was quite handy and luckily the house had been well maintained. With the help of an electrician, everything was completed!

                 

                I work with a variety of buyers and sellers in Central Vermont. Everyone has a story and none are the same. The buyers in this transaction were organized and reasonable. They didn't have any outlandish requests and focused on the safety items that their home inspection discovered. Steve and Patty were pleased with the ending to their story in Montpelier.

                 

                Who do you know who’s thinking of making a move?

                ...Give me a call or email, and I promise to take great care of them!

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                  Lauren Gould: Success Story

                  A Job Well Done

                  Photo by Ted Dawson

                   

                  When Ariana contacted me with interest in a sweet little house with a beautiful location I was very excited.  The house spoke to me as soon as I saw it appear on the MLS, and I hoped that I’d have the opportunity to show it to a buyer.  

                  Little did I know that I’d be helping a young family move from across the country and start a new life; introducing them to a new community, showing them the house 100% virtually, putting in an offer and getting it accepted- all before meeting in person.  

                  I was careful and deliberate to describe not only the property in great detail,  but the community they would be moving into.  I wanted to give them an idea of the life they could have in our little part of Vermont, from winter driving to summer farmers’ markets.  We created not only a great working relationship but really connected on a personal level and I enjoyed every moment of getting to know her and her family.

                   We worked through the logistics of time differences, spotty internet service at the property, timing inspections with cross country visits and everything came together.  There were lots of Facetime meets, text exchanges and family email chains but we kept our “eyes on the prize”.  

                  Three months after we closed, and they had completed their move, we crossed paths and they filled me in on how happy they were in their new home. It was such a joyful reunion, like friends who had shared a common story with a happy ending. They even referred a neighbor of theirs who wanted to sell his house.  I smiled as I walked away, thinking

                  This is exactly what I love about being a Realtor”.

                   

                  Who do you know who’s thinking of making a move?

                  They can be as complicated as this set of transactions, but they don’t have to be

                  ...Give me a call or email, and I promise to take great care of them!

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                    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

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