Vermont Homes Cyberzine

September 2010Volume 1

In This Issue:

Rent or Buy?Do the same rules apply in

today’s economy?

Fall Cleaning - tips for sprucing up

Tech Tips: our favorite iPhone apps

And more!

A message from Bill Desautels:

I want to welcome you to the first edition of Vermont Homes Cyberzine, which is loaded with information on issues that impact all homes, be it condos or single family residences. During these changing economic times it seems like regulations from banking, Vermont Division of Fire Safety and town code enforcement is continuing to evolve at a faster and faster pace. My hope is that within these pages you will find these updates helpful not only for yourself but anyone considering homeownership.

As always, I welcome communication from you if you have a specific real estate question. Hopefully after 32 years in the business I’ve come across whatever situation you need an answer to. Meanwhile enjoy what remains of the summer, I must say it’s sad to see the leaves changing but thankful that we were so fortunate to have incredible weather this summer.

Until next time, take care.

Bill DesautelsThe Desautels Group

In This Issue:Features:Rent or Buy? Do the same rules apply in today’s economy? • pg 2

Fall Cleaning - sprucing up for cold weather • pg 3

In Every Issue:Green Living Tips • pg 3

Tech Tips: Our favorite iPhone apps • pg 4

Market Trends: What happened in the last 30 days? • pg 4

Hot Topics: Are foreclosures a steal? • pg 6

Properties for Sale • pg 7

1 Contact us for all of your Real Estate needs | 802.861.6217 | DesautelsGroup.com

Rent vs. Buy? Do the Same Rules apply

in today’s economy?

This week’s Time Magazine cover, titled “The Case Against Homeownership” may have surprised many people. The arguments for this point of view cite high foreclosure volume, abandoned properties and dropping home values. What the article doesn’t talk about is that we are currently seeing the lowest interest rates ever, and have a large inventory of housing to choose from at affordable prices.

Also mentioned is the fact that existing home sales in July dropped 27% from the prior month. This should not have surprised anyone. With the federal tax credit running out on June 30th, buyers under contract were scrambling to close before this deadline, therefore artifi cially infl ating what “normal” June sales would have brought us.

The Vermont housing market has seen its ups and downs but overall we have remained much more stable than other areas of the country. Overall, Vermont has seen more than a 16% increase in home sales in the last 12 months over the prior 12 months. RE/MAX North Professionals has seen an even more signifi cant increase, having sales improve 42% during the same time period.

There are still many reasons that buying a home is still the Great American Dream for many people, and in Vermont’s housing market now may be the best time to become a homeowner.

Tax Breaks – the U.S. Tax Code lets you deduct the interest you pay on your mortgage, as well as some of the costs involved with buying a home.

Appreciation – now may not be the time to buy a home thinking you’re going to fl ip it in a year or two, but for the buyer planning on being there for some time it’s a great investment. Long-term, real estate has stable growth in value. According to the National Association of Realtors, on average a home doubles in value every 10 years.

Equity & Savings – rentpayments you’ll never see again. However, paying your mortgage lets you build equity and is a built-in savings plan. When you sell a property you can generally take up to $250,000 as gain without owing any federal income tax ($500,000 for married couples).

Stability – fi nancial and social stability are driving factors for many people. While you may not know when your rent will increase, but know it will at some point, you do know what your payment will be each month on your fi xed-rate mortgage.

Continued on Page 3...

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2Contact us for all of your Real Estate needs | 802.861.6217 | DesautelsGroup.com

Fall Cleaning - Sprucing up for Cold Weather

Everyone knows about Spring Cleaning. That first warm breeze after the snow melts and windows are opened, and the winter dust and doldrums are swept out of the house.

But what about Fall? Aren’t there things we can do to spruce up, clean out, and in general prepare for the Vermont Winter ahead? There certainly is.

Here are a few ideas as the leaves start to turn and the nights get cooler to make sure you’re ready for the season ahead.

• Have your chimney inspected. Many people forget to check a chimney and this can create a potential hazard.

• Have your furnace serviced. There’s nothing worse than if

your furnace stops working in the middle of the night during the holidays.

• Clean your gutters. Especially as leaves start to fall, keeping your gutters free of debris will lower your risk of water building up in them during cold weather causing “ice damming”. It’s also a great time to install gutter protectors that keep the debris and falling leaves out of them.

• Check your attic insulation and add more if necessary.

• Have an energy audit done, this will tell you where heat is escaping your home and can help cut heating costs and save energy.

Green Living Tip:

According to the EPA, the national recycling rate is just 30%. Increasing materials recycling in the US to 60% could save the equivalent of 315 million barrels of oil per year.

Buy vs. Rent...continued from page 2

Although your property taxes and maintenance costs may change over time, your overall financial picture remains predicable. Additionally, those who own in their community are more likely to establish lasting friendships, be involved in community activities and volunteering, and lets your children remain stable in their school

Freedom – here it is, what every renter wants. To paint and decorate whenever you like? However you like? Without having to ask anyone’s permission? That alone is enough to get many people on the homeownership bandwagon.

While every person’s situation is unique, overall and especially in Vermont, homeownership is still a great value. Low interest rates, high inventory, your American Dream could be just down the street.

3

Did you know?

Most attorneys require a Fire Safety Inspection be done on a condo

prior to closing.

Contact us for all of your Real Estate needs | 802.861.6217 | DesautelsGroup.com

HinesburgNew Listings - 10Homes Under Contract - 2Homes Sold - 2High Sold Price - $347,409Low Sold Price - $310,000Average Sold Price - $328,705

HuntingtonNew Listings - 3Homes Under Contract - 2Homes Sold - 0High Sold Price - n/aLow Sold Price - n/aAverage Sold Price - n/a

ShelburneNew Listings - 5Homes Under Contract - 7Homes Sold - 8High Sold Price - $540,000Low Sold Price - $235,000Average Sold Price - $349,788

South BurlingtonNew Listings - 25Homes Under Contract - 7Homes Sold - 17High Sold Price - $745,000Low Sold Price - $175,000Average Sold Price - $364,311

UnderhillNew Listings - 8Homes Under Contract - 2Homes Sold - 1High Sold Price - $255,900Low Sold Price - $255,900Average Sold Price - $255,900

WestfordNew Listings - 3Homes Under Contract - 3Homes Sold - 1High Sold Price - $269,000Low Sold Price - $269,000Average Sold Price - $269,000

WillistonNew Listings - 10Homes Under Contract - 8Homes Sold - 7High Sold Price - $620,000Low Sold Price - $137,000Average Sold Price - $390,571

WinooskiNew Listings - 8Homes Under Contract - 1Homes Sold - 3High Sold Price - $232,000Low Sold Price - $183,500Average Sold Price - $210,833

4

Market TrendsHere’s a snapshot of what happened with condo sales in your town during the last month.

BoltonNew Listings - 0Homes Under Contract - 1Homes Sold - 0High Sold Price - n/aLow Sold Price - n/aAverage Sold Price - n/a

BurlingtonNew Listings - 21Homes Under Contract - 7Homes Sold - 11High Sold Price - $405,000Low Sold Price - $150,000Average Sold Price - $246,263

CharlotteNew Listings - 3Homes Under Contract - 1Homes Sold - 3High Sold Price - $650,000Low Sold Price - $291,000Average Sold Price - $428,667

ColchesterNew Listings - 23Homes Under Contract - 8Homes Sold - 4High Sold Price - $620,000Low Sold Price - $77,500Average Sold Price - $281,875

Essex (Town & Junction)New Listings - 18Homes Under Contract - 9Homes Sold - 11High Sold Price - $479,900Low Sold Price - $95,000Average Sold Price - $279,400

JerichoNew Listings - 12Homes Under Contract - 4Homes Sold - 1High Sold Price - $305,000Low Sold Price - $305,000Average Sold Price - $305,000

MiltonNew Listings - 12Homes Under Contract - 5Homes Sold - 8High Sold Price - $302,040Low Sold Price - $25,000Average Sold Price - $186,105

RichmondNew Listings - 3Homes Under Contract - 1Homes Sold - 3High Sold Price - 452,000Low Sold Price - $240,000Average Sold Price - $359,000

Want to know what your home

is worth?Visit

www.DesautelsGroup.com/value and fi nd out!

Not all sales involved The Condo Guy. Info from the Northern New

England Real Estate Network.

Contact us for all of your Real Estate needs | 802.861.6217 | DesautelsGroup.com

Tech Tip: Our Favorite iPhone Apps

Keeper: this app lets you store all your passwords for easy retrieval.

Shazam: trying to remember the name of the song that’s playing? Simply use this app, hold your iPhone up to the music and it will tell you!

Flixster: check out movie reviews, times, and even buy tickets through your phone.

Please note that The Condo Guy does not endorse the iPhone or any application. You should make your own judgement whenever downloading programs.

Hot Topics:Are Foreclosures

a Steal?

We’ve all heard it in the news, homes going for far less than market value due to a foreclosure. The question is...is buying a foreclosure right for you?

There are many questions to ask yourself when looking at

foreclosure property. Am I sure about the work that needs to be done? Do I have the time, skills and money to put into it?

We’ll go into a few of the things you should think about if a bank-owned property is on your list of showings.

• How long has it been vacant?The longer a home is vacant, the more problems it is likely to have. From water damage, plumbing issues and even vandalism.

• Look it over carefully.Buying sight unseen - no matter the deal - is rarely a good idea. Look over the home carefully, inside and out. What needs to be replaced, repaired or just thrown out? What’s simply cosmetic and what problems are deeper? As with any home you are considering purchasing, you should still hire a professional building inspector go through the house with you and give you their opinion on what is needed for the property.

• Was it winterized?Especially with weather like we have here in Vermont, you need to take into consideration the time of year you are looking

at the property and what may or may not have been done to prevent plumbing and weather damage through the winter.

• Don’t expect the process to be quick.Even if you’re paying cash, the process for the bank to review and accept an offer, and then the process to close can be multi-layered and time consuming. Yes, sometimes it can be quick and easy but if title issues, State or local regulation problems come up expect to practice patience.

• Work with a great agent.Lastly and most importantly, work with an agent who is comfortable with foreclosures and understands the process. Having someone working for you that will ask questions early to give you the best understanding of what you’re going to see is what you need. Our team has extensive foreclosure experience and knows how to best help you through what can be a challenging process.

5 Contact us for all of your Real Estate needs | 802.861.6217 | DesautelsGroup.com

6

Colchester $699,0004 Bedroom, 3.5 Bath

So. Burlington $143,9002 Bedroom, 1 Bath

So. Burlington $135,9002 Bedroom, 1 Bath

Bolton $105,0001 Bedroom, 2 Bath

Cambridge $154,9002 Bedroom, 1.5 Bath

Winooski $169,0002 Bedroom, 1.5 Bath

Milton $283,0003 Bedroom, 2.5 Bath

So. Burlington $269,0002 Bedroom, 2.5 Bath

FOR SALE

Essex $350,0004 Bedroom, 2.5 Bath

Westford $345,0003 Bedroom, 2.5 Bath

Milton $310,0005 Bedroom, 3 Bath

So. Burlington $239,9002 Bedroom, 1.75 Bath

FOR SALE

Hinesburg $238,9003 Bedroom, 2.5 Bath

FOR SALE

Essex $209,9003 Bedroom, 2.5 Bath

FOR SALE

Jericho $219,9992 Bedroom, 1.5 Bath

FOR SALE

So. Burlington $200,0002 Bedroom, 2 Bath

FOR SALE

Milton $425,0002 Bedroom, 1 Bath

Burlington $199,9003 Bedroom, 1 Bath

FOR SALE

FOR SALE

Burlington $157,9003 Bedroom, 1 Bath

FOR SALE

FOR SALE

FOR SALE

FOR SALE

Contact us for all of your Real Estate needs | 802.861.6217 | DesautelsGroup.com

FOR SALE

FOR SALE

FOR SALE

FOR SALE

FOR SALE

FOR SALE

So. Burlington $159,5002 Bedroom, 1 Bath

FOR SALE

FOR SALE

The Desautels GroupRE/MAX North Professionals

bill@movevermont.comwww.DesautelsGroup.com

p: 802.861.6217p: 800.639.4520 x217

f: 866.416.2714