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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To calculate how much remodel you can afford, follow these four steps: Ballpark the cost, establish a spending limit, make a wish list, and set your priorities.

What’s on your remodeling wish list? Maybe you’re longing for a spa-like master bathroom, a new eat-in kitchen, or a garage with space enough to fit your cars and your outdoor gear. Well, when it comes to home improvements, knowing what you want is the easy part. The tougher question is figuring out how much you can afford. Follow this four-step plan to arrive at the answer.

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Spring is time for selling, and to make your home as competitive as possible, use these simple staging and spruce up tips. For more information on what you can do to your home to make it more attractive to Buyers, contact Troy Richardson at RE/MAX Maple Leaf Realty today.
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When it comes to selling your home, cleanliness is right next to the pen that signs the contract. Make sure you make these things sparkle before putting up that Maple Leaf Realty sign in the yard of your Bennington home:

• Stove – if you can’t replace it, shine it up. Scrub the oven, replace burners, and polish those well-used burner knobs.

• Bathtub – get rid of the ring, scour soap scum, and re-caulk the edges. Do the same for the bathroom sink – the rust spots can turn off a buyer.

• Wood floors and carpets – we often forget about the floor beneath the furniture. Remove furniture, clean and polish to a lovely sheen and replace – perhaps trying out a better traffic flow while you are at it.

• Windows – pull off the screens and wash with a scrub brush or take to a car wash. A simple vinegar and water solution can give the glass a new shine. The new owners will see themselves in the surface – and in their home!

Home designers and builders speaking at the recent International Builders Show in Las Vegas say that buyers are seeking cost-effective features and rejecting things that don’t have lasting value.

“It’s all about family togetherness – casual living, entertaining and flexible spaces,” says Carol Lavender, president of the Lavender Design Group in San Antonio.

Paul Cardis, CEO of Avid Ratings, which conducts an annual survey of buyer preferences, identified these must-haves in new homes:

1. Large kitchens with islands
2. Energy efficiency, including energy-efficient appliances, super insulation, and high-efficiency windows.
3. Home offices
4. Main-floor master suite
5. Outdoor living space
6. Ceiling fans
7. Soaking tub in the master suite and/or an oversize shower with a seating area
8. Stone and brick exteriors rather than stucco or vinyl
9. Community walking paths and playgrounds
10. Two-car garages, but three-car garages are even more desirable

Source: MarketWatch, Steve Kerch (01/30/2010)

With winter upon us, how do you make your Bennington, Vermont home or business more attractive to buyers? A few simple tricks will keep your real estate on their short list:

Keep driveways and sidewalks clear of snow and ice. Be generous with the sand to avoid any slips, and pile snow away from the front of the house. Curb appeal still counts in the winter – make sure their view is nice!

Make the entrance an invitation to stay. Offer visitors a place to hang coats as well as take off snowy boots so they feel welcome to wander the house.

Turn up the thermostat. Even if you normally keep the temperature low, crank it up to a comfy level for real estate showings.

Soft background music can relax a visitor and make then feel at home.

Pick up unneeded items and stow extra sweaters or outdoor clothing.

Those often used skis and snowshoes? Either neatly display them – or closet them!