Okemo Mountain Resort
Jackson Gore is Open! We'll have 37 trails with 8 lifts spinning starting at 8 a.m. Don't forget that you can get a $39 lift ticket at the clock tower ticket plaza or the Jackson Gore Archway if you donate 5 or more non perishable food items. The Rail Jam is also today-- registration is in the clock tower base lodge with the event itself in the Jackson Gore base area. Come to the Okemo area and Ski with us!
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If you are considering listing your home for sale or buying Real Estate in Southern Vermont, please give me a call at 802-353-1983, visit my website or email me at irene@isellvermontrealestate.com
Showing posts with label buying second home in vermont. Show all posts
Showing posts with label buying second home in vermont. Show all posts
Monday, January 21, 2013
Yuck, Ouch Inspections!
I just saw this sad article about a woman in Canada who bought a million dollar home. She thought that having an architect and engineer walk through the home would be enough to verify that it was safe for habitation, so she didn't get a home inspection. After closing, she discovered that the walls were totally and completely infested with mice. Yuck!
Worse still... the damage from their droppings and urine is so severe that the house has to be gutted.
Enough said, right? Here's a link to the article - don't be shy if I can help you with anything!
Best,
Irene
Irene
Saturday, March 01, 2008
The Truth about Second Home Buyers in Today's Real Estate Market.
This article is presented with permission and written by Denise Lones, M.I.R.M., CSP
Journalists are still riding the bandwagon of fear, reporting that second home purchases are going to be no more. Just last week, I heard a pundit advising people to keep their money in their primary residence because of the “impending recession”.
This is ridiculous. Nothing could be further from the truth. Contrary to popular belief, investing in a second home is—and will continue to be—a smart buying decision for many homeowners.
We live in the wealthiest country in the world. Second home buyers are not going anywhere. While the media hems and haws about all the unfortunate people who are in hard times, they completely ignore the fact that there are others who still have lots of money to invest. And what better investment than real estate—even if it’s not your primary residence?
I’m even going so far as to make a radical prediction:
Second home purchases will rise in the next five years.
That’s right—rise! Not diminish.
Here’s why:
1. As people age, they experience an increased need to have more quality of life and time away from home.
People love to get away. If they have the money, why not? They want a lifestyle change—the ability to go to a “home away from home”. Whether it’s a cottage in the mountains or a seaside shanty, there’s nothing like having a secondary place to escape to.
2. People have money and they want to invest it.
Traditionally, real estate is more stable than the stock market. This makes it a much more attractive investment for anyone skittish about putting their hard-earned money in the hands of Wall Street sharks.
In addition, the recent and dramatic drops in the Dow Jones have stirred up many valid fears among investors. For that very reason, real estate will continue to be the safer investment—guaranteeing that second-home buyers are here to stay.
Tell your clients about what’s going on. Don’t hold back. Crunch the numbers for them so that they see the incredible value of a second home.
3. People love to own real estate.
The very idea of being a “real estate investor” is enough to make some people purchase a property. Having that label is a sign of prestige, and raises people’s perception of themselves.
Whether or not you find this type of vanity attractive or repulsive, forget about how you think. Again, think like they think. It’s an undeniable fact that such people exist. They love nothing better than to go to cocktail parties and parade their wealth in front of others—describing their properties in detail.
Rather than despising these people for their snobbery—which many of us fall into the habit of doing—learn to love them for their ability to supercharge your business. With just a handful of wealthy investors as clients, a real estate agent can make a fortune.
4. Second-home communities are creating rental income possibilities for investors.
Many developers of second-home communities know that by including certain services, investors will take advantage of the additional income they may receive. Services such as having a concierge on duty 24/7. Or rental pools that encourage owners to rent during the off-season.
Developers have known for a long time that there is a huge market of second-home investors out there. By installing such services from the get-go, they maximize the potential of their community to attract them.
They know people will rent when they’re not there. Why pretend they’re not going to? Now, they encourage them instead. It’s a win-win for both the developer and the investor.
5. Having the ability to purchase a second home is an attractive trait to lenders.
Remember that second-home buyers have a solid track record being the owner of a first home. If a mortgage is all paid for and the buyer is looking to invest in a second one, then chances are this is a good client for the lender. It’s just plain easier to find financing if you already own a home.
Add in possible rental income and lenders become even more enthusiastic.
Side note: I know many of you reading this are struggling with mortgage payments of your own and can’t imagine buying a second home, especially in the current economic climate.
But in order to function best as a real estate agent, think outside of yourself. Think like an investor with a lot of capital. Where would you rather put your money—in volatile stocks or in a second home that you know will appreciate in value over the next 20 years?
As a real estate agent, what an opportunity it is to educate your wealthy clients about the value (and joy!) of investing in a second home rather than a Wall Street portfolio that has a higher chance of going bust.
Don’t listen to the media. Don’t listen to conventional wisdom. Don’t listen to people in financial trouble.
Second-home buyers are here to stay. Find them. Educate them. Help them make more money. When you do, you’ll see your own bank account grow.
Thank you Denise for allowing me to use the article
Irene
To learn more about buying a second home on Okemo Mountain VT or Ludlow VT real estate, please call me at 802-353-1983 or visit ISellVermontRealEstate.com. You may also request a relocation package by clicking here.
Journalists are still riding the bandwagon of fear, reporting that second home purchases are going to be no more. Just last week, I heard a pundit advising people to keep their money in their primary residence because of the “impending recession”.
This is ridiculous. Nothing could be further from the truth. Contrary to popular belief, investing in a second home is—and will continue to be—a smart buying decision for many homeowners.
We live in the wealthiest country in the world. Second home buyers are not going anywhere. While the media hems and haws about all the unfortunate people who are in hard times, they completely ignore the fact that there are others who still have lots of money to invest. And what better investment than real estate—even if it’s not your primary residence?
I’m even going so far as to make a radical prediction:
Second home purchases will rise in the next five years.
That’s right—rise! Not diminish.
Here’s why:
1. As people age, they experience an increased need to have more quality of life and time away from home.
People love to get away. If they have the money, why not? They want a lifestyle change—the ability to go to a “home away from home”. Whether it’s a cottage in the mountains or a seaside shanty, there’s nothing like having a secondary place to escape to.
2. People have money and they want to invest it.
Traditionally, real estate is more stable than the stock market. This makes it a much more attractive investment for anyone skittish about putting their hard-earned money in the hands of Wall Street sharks.
In addition, the recent and dramatic drops in the Dow Jones have stirred up many valid fears among investors. For that very reason, real estate will continue to be the safer investment—guaranteeing that second-home buyers are here to stay.
Tell your clients about what’s going on. Don’t hold back. Crunch the numbers for them so that they see the incredible value of a second home.
3. People love to own real estate.
The very idea of being a “real estate investor” is enough to make some people purchase a property. Having that label is a sign of prestige, and raises people’s perception of themselves.
Whether or not you find this type of vanity attractive or repulsive, forget about how you think. Again, think like they think. It’s an undeniable fact that such people exist. They love nothing better than to go to cocktail parties and parade their wealth in front of others—describing their properties in detail.
Rather than despising these people for their snobbery—which many of us fall into the habit of doing—learn to love them for their ability to supercharge your business. With just a handful of wealthy investors as clients, a real estate agent can make a fortune.
4. Second-home communities are creating rental income possibilities for investors.
Many developers of second-home communities know that by including certain services, investors will take advantage of the additional income they may receive. Services such as having a concierge on duty 24/7. Or rental pools that encourage owners to rent during the off-season.
Developers have known for a long time that there is a huge market of second-home investors out there. By installing such services from the get-go, they maximize the potential of their community to attract them.
They know people will rent when they’re not there. Why pretend they’re not going to? Now, they encourage them instead. It’s a win-win for both the developer and the investor.
5. Having the ability to purchase a second home is an attractive trait to lenders.
Remember that second-home buyers have a solid track record being the owner of a first home. If a mortgage is all paid for and the buyer is looking to invest in a second one, then chances are this is a good client for the lender. It’s just plain easier to find financing if you already own a home.
Add in possible rental income and lenders become even more enthusiastic.
Side note: I know many of you reading this are struggling with mortgage payments of your own and can’t imagine buying a second home, especially in the current economic climate.
But in order to function best as a real estate agent, think outside of yourself. Think like an investor with a lot of capital. Where would you rather put your money—in volatile stocks or in a second home that you know will appreciate in value over the next 20 years?
As a real estate agent, what an opportunity it is to educate your wealthy clients about the value (and joy!) of investing in a second home rather than a Wall Street portfolio that has a higher chance of going bust.
Don’t listen to the media. Don’t listen to conventional wisdom. Don’t listen to people in financial trouble.
Second-home buyers are here to stay. Find them. Educate them. Help them make more money. When you do, you’ll see your own bank account grow.
Thank you Denise for allowing me to use the article
Irene
To learn more about buying a second home on Okemo Mountain VT or Ludlow VT real estate, please call me at 802-353-1983 or visit ISellVermontRealEstate.com. You may also request a relocation package by clicking here.
Thursday, August 09, 2007
Sharing The Cost Of Your Dream Vacation Home in Ludlow VT
Have you dreamed about purchasing a vacation home near Okemo Mountain Resort? Pictured yourself and your family enjoying the mild summers spent exploring the beautiful outdoors, or the winters spent around the fireplace after a long day on the slopes? Perhaps you’ve pushed these visions back because you assumed you would never be able to fulfill this dream – the burden of a second mortgage for a vacation home may just seem like too much to take on.
But what if you could share the cost of your dream home with friends? You’d still get to enjoy the resort at peak times and, if you decided to put the home in the rental market, you’d still benefit from those proceeds. But the investment and monthly cost of purchasing the home could be cut in half! It seems like everyone would win in this situation.
This article, published recently in the Wall Street Journal Online, lays out the many advantages of sharing home ownership. It also provides good questions to ask yourself before moving into such an investment situation – there are pitfalls to be aware of including the willingness of both parties to delegate control of the property, the future financial stability of both parties, and the comfort level of both parties when it comes to discussing and working out financial and other differences.
I would love to help you make Okemo Mountain Resort your home away from home. Please call me at 802-353-1983 or visit www.ISellVermontRealEstate.com to get started with your search for Okemo real estate!
But what if you could share the cost of your dream home with friends? You’d still get to enjoy the resort at peak times and, if you decided to put the home in the rental market, you’d still benefit from those proceeds. But the investment and monthly cost of purchasing the home could be cut in half! It seems like everyone would win in this situation.
This article, published recently in the Wall Street Journal Online, lays out the many advantages of sharing home ownership. It also provides good questions to ask yourself before moving into such an investment situation – there are pitfalls to be aware of including the willingness of both parties to delegate control of the property, the future financial stability of both parties, and the comfort level of both parties when it comes to discussing and working out financial and other differences.
I would love to help you make Okemo Mountain Resort your home away from home. Please call me at 802-353-1983 or visit www.ISellVermontRealEstate.com to get started with your search for Okemo real estate!
Monday, June 11, 2007
Five Tips to Buyng A Second Home
Many new home buyers in Vermont are second home buyers, buying a vacation home. Vermont seasons have something for everyone...terrific skiing in the winter, perfect maple syrup making weather in the spring, warm days and cooler mountain evenings in the summer, and gorgeous foliage in the fall.
Purchasing a Vermont vacation home is an exciting venture, but there are some things to think about that are different than when you purchased your primary residence.
1. What is the travel time between your primary home and the second home location? Is it a doable drive or travel distance, or will it become a deterrent to actually enjoying your vacation home?
2. What type of activities does the vacation home location offer and are these activities of interest to you? It is a good idea to visit the vacation home location at various times of the year to get a better idea of what the area is really like.
3. If you are financing your vacation home, interest rates are generally higher and down payments larger. I am glad to put you in touch with a local lender for you to talk loans with.
4. The interest paid on the mortgage for your vacation home is tax deductible, if you don't rent it out for more than two weeks a year. But unlike your primary residence, the profit you make from the sale of the property is subject to capital gains. One way around capital gains is to sell your primary residence, move into your vacation home and live there for two years before you sell it.
5. Insurance is another consideration. Homeowners insurance in a vacation home is usually higher than on your primary residence because it is vacant for much of the time.
One of the best recommendations I have for you is to get the assistance of a well qualified Realtor who knows the area who has lived in the area for awhile. If you are thinking of buying southern Vermont vacation home, I'm your Realtor!! Give me a call at 800-659-1819 # 103 or visit my website. I am a long time resident of Vermont and a long time Realtor. I'd love to help you buy your dream Vermont vacation home!
Purchasing a Vermont vacation home is an exciting venture, but there are some things to think about that are different than when you purchased your primary residence.
1. What is the travel time between your primary home and the second home location? Is it a doable drive or travel distance, or will it become a deterrent to actually enjoying your vacation home?
2. What type of activities does the vacation home location offer and are these activities of interest to you? It is a good idea to visit the vacation home location at various times of the year to get a better idea of what the area is really like.
3. If you are financing your vacation home, interest rates are generally higher and down payments larger. I am glad to put you in touch with a local lender for you to talk loans with.
4. The interest paid on the mortgage for your vacation home is tax deductible, if you don't rent it out for more than two weeks a year. But unlike your primary residence, the profit you make from the sale of the property is subject to capital gains. One way around capital gains is to sell your primary residence, move into your vacation home and live there for two years before you sell it.
5. Insurance is another consideration. Homeowners insurance in a vacation home is usually higher than on your primary residence because it is vacant for much of the time.
One of the best recommendations I have for you is to get the assistance of a well qualified Realtor who knows the area who has lived in the area for awhile. If you are thinking of buying southern Vermont vacation home, I'm your Realtor!! Give me a call at 800-659-1819 # 103 or visit my website. I am a long time resident of Vermont and a long time Realtor. I'd love to help you buy your dream Vermont vacation home!
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