Getting ready to place your home on the market?  If it is in anything less than “like new” condition, you’ll need a little reality check before you can determine a fair asking price.  Since buyers will order one anyway, you may want to consider having an inspection performed by a licensed professional before you market your home.

Why do it now, since the buyers will pay to do it later?  Ask yourself if you like surprises!  If repair issues are identified, you have time to decide whether to pay now for the improvements, or adjust your asking price accordingly.  The old rule of thumb dictates that buyers will offer $2 less for every $1 in needed repairs, so make your decision with care.

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“Buyers market.” “Sellers market.” What does it all mean when you find yourself ready to buy or sell a home?

The basic concept behind a “Buyers market” is that there are more houses or residential properties for sale in a community than there are Buyers qualified to make a purchase. This creates increased competition among the Sellers for those fewer Buyers, and can put the Buyers in the “driver’s seat” when it comes to negotiation.

It logically follows that a “Sellers market” happens when there are more prospective Buyers than there are homes for sale. Now it is the Buyers who must compete against each other for available properties, often to the benefit of those who are selling.

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Bennington will be celebrating Winter with a festival on February 2, 3 and 4.

The Winter Festival will be a fun filled three days of fun and activites for every member of the family.

Highlights include:

• Ice Sculpture Contest – Carvers will be working all weekend, with judging on Sunday
• Student Art Show – Free admission at the Bennington Museum
• Penguin Plunge – Lake Paran in North Bennington – jump in the icy waters or cheer on the brave ones; benefits Special Olympics
• Concert – featuring Bob Stannard and Mark Toistrup at the Bennington Center for the Arts
• Chili contest and bonfire
• Wagon rides
• Dining and Shopping specials all weekend

A complete Bennington Winter Festival schedule of events is available.

Bubble, bubble, toil and trouble!  There’s no doubt that the real estate marketplace is settling down from its breakneck pace of the last few years.  There’s also speculation that the real estate “bubble” is going to burst, but it’s nearer the truth to say that the most overheated markets are losing steam, while other markets are reasonably readjusting. 

In the Bennington VT real estate market, we consider ourselves lucky to be one of the markets that is reasonably adjusting.  We don’t typically see the huge up-swings that the national media likes to talk about, so conversely we don’t have that far to fall when the market softens.  We like to think that we stick to the middle-of-the-road.

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After bottoming in the fourth quarter of 2006, existing-home sales are forecast to gradually rise through 2007 and into 2008, while new-home sales should turnaround by summer, according to the latest forecast by the National Association of Realtors.

David Lereah, NAR’s chief economist, said annual totals for existing-home sales will be fairly comparable between 2006 and 2007. “We have to keep in mind that we were still in boom conditions during the first quarter of 2006 with a high sales volume and double-digit price appreciation,” he said. “We are starting 2007 from a relatively low point, so even with a gradual improvement in sales it’ll be pretty much of a wash in terms of annual totals. The good news is that the steady improvement in sales will support price appreciation moving forward.” (more…)

Although the “real estate bubble” has yet to burst, a lot of markets are finally experiencing an “adjustment” of sorts, especially as interest rates slowly creep up and buyers are fewer and farther between. If your house is already on the market, you should ask your listing agent for a updated Comparative Market Analysis (CMA) to properly gauge whether your asking price is still competitive in the Bennington VT real estate marketplace in these dynamic conditions.

But as a buyer, how can you be sure that the asking price is on the mark, or if your offer is a reasonable one? Some sellers simply ignore current market conditions, expecting to fetch the same prices as a year ago. So you need some assurance. Particularly, you need to know how many homes are on the market now vs. a year ago, and how the average sales times compare.

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Conserving water is not only good for the environment, it’s good for your septic system. Whether you have a septic or use town water / sewer, you’ll save money by using water efficiently.

The following tips are ways you can conserve water:

• replace old appliances like washing machines and dishwashers – newer models are very water efficient, and will even save on your electic bill
• replace old toilets with “low flow” toilets that use significantly less water
• run your dishwasher and clothes washer only when they’re full
• fill your bathtub with only as much water as you need
• turn off faucets while shaving, brushing your teeth, or washing dishes
• maintain and check all plumbing to eliminate leaks
• check all faucest and make sure they are turned off completely when not in use

Categories: First Time Buyers, Buying, Environmental, Septic Systems, Bennington VT

Like the question of the chicken and the egg, homeowners planning to buy a new home must ask, “Which comes first?” Do you sell first, and then look frantically for the new home, or buy first and risk maintaining and financing two properties?

There’s more risk than just two mortgages. If you’re rushed to sell your home to purchase a new one, you might be forced to list at, or accept, a lower price than expected. If you’re pressed to buy a new home after selling your existing home, you may be forced into paying an unexpectedly higher price.

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