What is the primary objective for a buyer when negotiating the purchase of a home? Would it be fair to say that the buyers want the lowest price possible with the most liberal terms? And what about the sellers of a home? Would you agree that the sellers want the highest price possible with the terms most favorable to them? (more…)

Lighting Tips

Lighting is essential to the look and function of any room. And today there are more options in lighting your home than ever before. To help you choose the best type of lighting for your needs, we’ve provided this simple list of lighting tips.

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Attracting buyers has turned into quite the competitive sport. Once you catch a buyer’s attention with a favorable asking price, how do you encourage them to select your home from the other choices? Namely, assault their senses!Since first impressions do count, you should start at the front door. Apply a fresh coat of paint and new hardware. On the inside, paint the walls with neutral colors. Designers recommend golden beiges and sandy tans.

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Act 200 is a growth management act which went into effect in 1989 to make sure that regional and local plans are consistent with Vermont’s planning goals.  This law addresses agricultural land, forest preservation and affordable housing.

In order to receive state planning funds, a municipality in Vermont must have approved town plans .  Towns can collect impact fees from developers to help fund municipal projects made necessary by development.  Towns must have an adopted capital budget and program in order to collect these fees. Planning officials say the town plans are an aid to development because they remove ambiguity, and can speed the process and clarify expectations.

Categories: Bennington VT, Environmental

portions from Business People – Vermont, February 2007

Vermont has passed a comprehensive land-use law called Act 250. This occurred in 1970 to protect against substandard or shortsighted development and the burdens it places on water, sewer, utility, police and fire services as well as the impacts to schools and roads. Act 250 was designed to protect air and water quality, to promote soil conservation and to preserve wildlife habitats as well as scenic, historic and archaeological sites.

The following proposals fall within Act 250 guidelines, and are reviewed by one of nin District Environmental Commissions, each with jurisdiction in a particular region:

• commercial projects of 10 or more acres
• developments in elevations above 2,500 feet
• developments with 10 or more units
• roads longer than 800 feet serving subdivisions
• projects of less than 10 acres in towns without zoning and subdivision bylaws

Each development proposal is reviewed against ten criteria specified in the Act. The procedure provides for a public hearing where abutters and interested parties may voice their concerns about the proposal.

Categories: Bennington VT, Environmental

portions from Business People – Vermont, February 2007

We all know how stressful a move can be, but if pets are part of your family, there may be an added level of anxiety. Many real estate agents have practical knowledge from working with families with pets, and experience has proven that there are some simple steps you can take to alleviate the stress on your four-footed friends.First be sure that your pets are wearing current tags. It’s wisest to have your cell phone number as part of the tag’s information, so that you can be reached either here or there in an emergency.

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Recently consumers have been bombarded by news featuring a “doom and gloom” picture of the real estate market nationwide. While national statistics do show that parts of the country are experiencing a change in the market, it is important to know that all real estate is local and conditions vary. What may be happening in other parts of the country is not necessarily occurring in Bennington County or throughout Vermont.

The real estate market in our area is healthy. At the end of the second quarter of 2007 the median price for primary residential homes in Vermont, which is the largest sector of Vermont’s real estate market, was up over 7% from a year ago at the same time. Homes may be on the market a little longer, but statistics reveal that with an attractive inventory of choices real estate continues to be a great opportunity for buyers and sellers alike.

These higher inventory levels, combined with low mortgage interest rates, help create favorable market conditions for home buyers. This is especially helpful for young households who want to make the transition from renting to owning. In contrast to conditions during the housing boom home sellers in many areas are now motivated to negotiate. In these markets, home buyers have increased negotiating power, but may be unsure of how to structure the best deal – they need a professional to help guide them through the transaction.

In light of the recent changes in the mortgage industry, with lenders tightening their guidelines, a REALTOR® and mortgage lender can help sellers and buyers navigate the pre-approval process. Vermonters also are fortunate to have organizations like the Vermont Housing Finance Agency (VHFA) to help guide potential home buyers through the financial process of purchasing a home.

As the real estate market becomes more balanced between buyers and sellers, home prices have stabilized. However, most homeowners can still realize a very good return on their investment. According to the National Association of REALTORS® (NAR), consumers who bought their homes six years ago have seen more than 50 percent appreciation in their home’s value during that time.

Buying a home should be approached as a long-term investment, providing both equity accumulation and tax benefits over time. Even when temporary corrections have occurred in markets that became overheated during the most recent housing boom, most of the country has never experienced a downturn in home prices since modern record keeping began. Low mortgage interest rates, a growing number of households, strong demographic factors, economic growth and job creation have helped drive record home sales in recent years.

All real estate is local, and there are opportunities galore. REALTORS® can help interpret the data and trends and help find the right fit for a homeowner’s needs and desires. Smart homebuyers, rather than running away from homes, are taking advantage of an extraordinary real estate market.

Categories: Bennington VT Real Estate, Market Outlook, Buying, Selling

WASHINGTON, September 04, 2007 -
Would you welcome a complete stranger into your home or get into a car alone with someone you had just met? For Realtors® and other real estate professionals, these are everyday occurrences. Every job that requires interaction with the public involves some risk, which is why the National Association of Realtors® is reaching out to its 1.3 million members next week as part of its fifth annual REALTOR® Safety Week.

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As a seller, you’d prefer a nice clean, unconditional offer at full price, right? One way to encourage such confidence among potential buyers is to have an inspection report available during showings, as well as any receipts (or estimates) for repairs. Why order an inspection when the buyers will probably do so anyway?

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