Vermont Home & Garden Show
April 15 – 17

Get ready for spring at the Champlain Valley Expo Center and Fairgrounds. We’ll be there, along with 400 other exhibitors from around the Champlain Valley. Meet Bob from the Home Team, chat with a Home Performance with ENERGY STAR contractor, and more.

This is a great home show, I just wish it were closer to the Bennington VT real estate market.  Would you like to see a Home Show in Bennington?  If you would, let me know, and maybe we can get enough interest.

Are you considering a kitchen remodel for your home in the Bennington Vt real estate market area?

Remodeling kitchen trends are creating stylish kitchens with cleaner lines, built-in dining, and pops of color, according to a recent article in RISMedia.

Here are some recent trends in kitchens across the country.

1. Built-in dining areas. Eat-in kitchens are in high demand as more remodelers are opting for extensions in counters that resemble a table, either in lower or higher height to the countertop. The counter extension is different than bar seating because diners can sit around the edge and face one another, and not just sit in a row. The counter extension saves space, offers an extra buffet service, and more kitchen storage, says Deanna Carleton of Kitchen Design Group.

2. Dressing up the kitchen with lighting. An affordable way to upgrade a kitchen is just by switching out the lights, designers say. For example, hand-blown glass shades on pendant lights, contemporary drum shades, and chandeliers can quickly update a kitchen. Layers of light continue to be popular, such as with a ceiling lighting fixture combined with under-counter lighting as well as ambient lights behind a glass-front door, designers say. LED under-counter lighting and LED recessed ceiling lights are also popular.

3. Pops of color. Neutral colors in the kitchen is the safe preference, but more kitchens are adding bolder pops of color–such as in persimmon or pomegranate–to spice up the kitchen. Colored knobs, kitchen accessories, and even appliances are bringing in these pops of color. Designers say pops of color can also be brought in by the fabric choice in kitchen window seats, the upholstered seats, or window valances.

4. Striving for simplistic luxury. Clean lines and transitional designs are “in” while ornate Tuscan and French country kitchen styles are falling out of favor in the kitchen. Betty Nairn of Cabinet-S-Top in Granger Township, Ohio, says “simplistic luxury” is the kitchen trend nowadays.

Mortgage rates have been rising ever since November 2010, when lows of 4.42 percent were reported. Bankrate.com recently reported a rise to 5.02 percent in 30-year fixed rate loans, which is the second time in three weeks rates have crossed the 5 percent mark–many experts say signaling the end to the 4 percent mortgage rate era.

Forecasters predict mortgage rates to hover in the 5-6 percent range in 2011.

Yet, some industry experts say the rise in mortgage rates may stimulate a sluggish housing market.

The rising rates create an urgency for potential buyers. They’ll have more incentive to buy soon before mortgage rates go any higher.

After all, higher interest rates mean buyers will pay more for their mortgages. Greg McBride, chief economist at Bankrate.com, told CNNMoney.com that when rates rise 4.25 percent to 5 percent, it takes away 9 percent of the purchasing power of buyers.

Lawrence Yun, chief economist of the National Association of REALTORS®, doesn’t foresee a moderate hike in mortgage rates as a negative for the industry. Instead, he says the real mortgage challenge is getting lenders to approve creditworthy buyers for a loan.

“It’s less about rates than it is about underwriting standards … If lenders return to more normal, safe underwriting standards for creditworthy buyers, there would be a bigger boost to the housing market and spillover benefits for the broader economy,” Yun said.

Source: “Kiss 4% Mortgage Rates Goodbye,” CNNMoney.com (Dec. 30, 2010)

Here in the Bennington VT real estate market, we have already seen local banks with increased rates from what they were in late 2010.  It’s pretty safe to say that these rates will only continue to inch up over time.  With these historic lows, it’s a great time to buy a house.

Despite historic low interest rates and commercial real estate  prices, few small business owners are purchasing commercial real estate, citing liquidity  and loan qualification as key concerns. A recent study showed that many small business owners are unaware of the benefits provided through SBA loans, which offer small business owners more flexible repayment terms and easier loan qualification terms that can make purchasing a commercial property a more viable option. In the Bennington VT real estate market there are banks that can offer the SBA loan program.  Call Troy to find out who you should be talking to. See the following article from The Street for more on this.

Times are tough all over. You don’t have to remind small-business owners of that.

But with commercial real estate prices at historic lows, and low mortgage  rates right there beside them, entrepreneurs are missing a big chance to make a huge killing — and bolster their business in the process.

The CIT Small Business Commercial Real Estate Study, a report from CIT Group(CIT_), documents how small-business owners can capitalize on great commercial real estate deals, even though they apparently don’t want to.

According to CIT analysts, cheap commercial real estate is one of “the few upsides” for small-business owners trying to operate in a harsh economic climate.

But entrepreneurs aren’t taking advantage of the low prices. CIT says only 6% of small-business owners have bought one or more commercial properties, while a majority — 53% — say they “haven’t even thought about making a purchase.”

Overall, only a little over a quarter — 28% — of the 300 small-business owners interviewed for the survey say real estate is a “great” business opportunity.

The path to leveraging great commercial real estate opportunities goes through the U.S. Small Business Administration, the survey says.

“Today’s market conditions may offer a once-in-a-lifetime opportunity for entrepreneurs who want to take their businesses to the next level,” says Chris Reilly, president of CIT Small Business Lending. “To achieve this, Small Business Administration loans, with their low cost and flexible terms, offer an excellent choice for small-business owners looking to refinance their existing real estate or to acquire a new property.”

Small-business owners have their reasons for not jumping into the real estate market. CIT reports that 36% of respondents say they may not be able to qualify for a loan, given the tight lending market.

Another problem is liquidity, since 19% of business owners say they can’t afford a down payment. CIT notes, though, that SBA loans can come with lower down payments, lower monthly payments and longer “pay-off” periods than regular bank loans, which can surely address some small-business owners’ liquidity problems.

The study shows that only a tiny minority of survey respondents are aware of those benefits. The recently enacted Small Business Jobs and Credit Act “sweetens SBA loan terms for both lenders and borrowers, eliminating borrowers’ fees, raising the loan guarantee to 90% from 75%, and increases loan limits.”

Sure, CIT has a horse in this race — it wants to make loans to small-business owners. But there’s no question there has rarely been a better time for a small-business owner to buy commercial property.

Since small businesses employ 59 million people (about half of all private sector jobs, CIT says), any investment in property that solidifies a small-business owner’s financial position is good for his or her business, employees and the economy.

But entrepreneurs don’t see it that way, and they’re the ones who control the purse strings, no matter how many great real estate deals are out there.

This article has been republished from The Street.

Four years into the housing crisis, myths about foreclosure still litter the minds of even the smartest of real estate consumers. When it comes to matters as high stakes as your home, confusion can cost you thousands – or even your home. Whether you’re a buyer looking at foreclosures, a homeowner struggling to keep your home or a seller concerned making sure your home can compete with the foreclosed homes on your block, these foreclosure myths are prime for the busting, with no further ado.

Keep in mind that in the Bennington VT real estate market, not all of these comments may be applicable. It is important to consult with your bank or real estate professional to determine the best course of action for you. Remember, all real estate is local, and this commentary is more geared towards a national audience.
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Home buyers may get three more months — until Sept. 1 — to close on purchases they made prior to May 1 and still qualify for the federal tax credits.

Senate Majority Leader Harry Reid, a Nevada Democrat, introduced the proposal as an amendment to a bill that would extend jobless benefits through November. Reid represents the state with the highest foreclosure rate.

The National Association of REALTORS® has been lobbying for the extension because buyers whose purchases are delayed by slow-moving short sales and financial transactions will lose out.

“Time is of the essence,” said Lucien Salvant, NAR managing director. “It’s important for Congress to get this done, because there’s whole bunch of loans that aren’t going to close on time.”

Source: Associated Press, Alan Zibel (06/10/2010)

This may be great news for many buyers in the Bennington VT real estate market.

Convenient and comfortable laundry rooms are an increasingly popular feature among home buyers.

Tom Byrne, president of Rockville, Md.-based Chadsworth Homes Inc., says they are more popular than such features as studies and media rooms.

“In the past few years, 30 percent of the homes we build … have a laundry room with granite countertops, a single-level kitchen-style faucet, and the laundry tub will be an undercounter sink,” Byrne says.

Stephen Melman, director of economic services for the National Association of Home Builders, concurs.

“These rooms are becoming larger and more multifunctional, with organizers, a table for folding, ironing stations, and windows with a view,” Melman says.

Source: Washington Times, Carisa Chappell (5/14/2010)

In the Bennington VT real estate market, we have mostly older homes and laundry rooms are usually in the basement, but if you have the extra room to create a laundry “room” it will definitely add value to your home.

Reprinted with permission.

Whether to move or improve is a harder question to answer than it was a few years ago, but a few cost-benefit calculations can help you make the right decision.
 
What do you do when your family outgrows your house, or when the quirks you once found charming about the place just aren’t livable anymore? A few years ago, the answers were easy. With house values climbing an average of 50% from 2001 to 2005 and lenders handing out big checks to nearly anyone who asked, you could quickly unload a too-small house and use the profits to help pay for a larger one. Or you could borrow against that growing equity to fund a big home-improvement project, with the full expectation of making your investment back someday when you sold. Flash forward a few years, and the rules of real estate have changed. In this marketplace, with home equity shrinking and banks reluctant to lend, is it smarter to move or improve? Here’s some advice to help you decide.

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You’re ready to remodel but you want to make sure you get the best contractor for the job. Here’s what to ask the candidates before you decide.
 
For all of the excitement of choosing plumbing fixtures, cabinets, and tiles for a remodeling project, the most important decision you make won’t involve color swatches or glossy brochures. It’s the contractor you pick that makes or breaks the job. That choice will determine the quality of the craftsmanship, the timeliness of the work, and the amount of emotional and financial stress the process puts on you. To make sure you’re getting the best contractor for the job, here are five questions to ask the candidates.

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