To Buy Or Not To Buy?

In a slowing real estate market, buyers often ask is it better to buy now with low interest rates or is it better to wait and see if prices will drop. If I had a crystal ball and could tell you this, I would probably be retired on a tropical island somewhere, but I can give you a couple of insights.

Interest rates have been hovering around 6.5 percent for over a year and there are no indications that this will change any time soon. The minor fluctuations in rates we have been seeing don't really effect your payment much.

Say you have a loan for $100,000. At 6.5 percent the payment on a 30-year fixed rate loan is $650. If the interest rate drops by 0.5 percent it only brings your monthly payment down $5.00. You would have to see a dramatic drop (or increase) in rates for it too effect your pocket book.

Will housing prices drop? The National Association of Realtors is predicting a rising market throughout 2007. Also, it is almost March and spring is the busiest time of year in real estate. Historically, prices increase in the spring which means gambling on a drop in prices may not be a great gamble.

Confused? Give me a call at 800-659-1819 #103. I am glad to discuss this with you further. Or visit my website. Here you can view all Ludlow, VT homes for sale.

Housing Starts Plunge But Rise In Northeast

The Commerce Department reports housing starts plunged 14.3% in January to the lowest point in ten years. This unexpected decrease off-set the gains of the previous two months.

Regionally, housing starts in January decreased by 28.5% in the West, 15.2% in the Midwest, and 11.8% in the South. Starts rose 8.9% in the Northeast.

Interested in Ludlow Vermont real estate? Contact me, 800-659-1819 #103 or visit my website to view homes for sale.

Number Of Vacant Homes Surges

MarketWatch.com has reported the number of vacant homes increased dramatically at the end of 2006 compared to the end of 2005, up 34 percent. This is an indication that housing starts need to slow even more than they ahe already.

Most of these vacant homes are new construction, but the number of vacant resale homes is up also. If a home is for sale due to a job transfer, many owners will leave it vacant if it hasn't sold, rather than have the family separated for an extended period of time.

Vacant homes don't show as well as occupied homes do. It is harder for the buyer to visualize howfurniture will fit in a room if that room is empty. Furniture in the room allows easier spacial relationships.

If you are moving becasue of a job transfer and would like to talk about how to get your home sold in the shortest period of time and not leave it vacant, give me a call, 802-226-8022. Or visit my website to learn more about Ludlow Vt real estate.

FEDs Leave Rates Alone

The Federal Reserve Board announced this week that it would keep the the federal funds rate at 5-1/4 percent.

What does this mean for Ludlow home buyers? Mortgage interest rates should remain stable. There was a slight increase in rates in anticipation of the FED announcement, but that slight increase should settle back down again.

If you are in the market to purchase Ludlow real estate and are wondering how much home you can buy at the current interest rates, give me a call. I am glad to talk with you!

Buyers Have More Buying Power

Home buyers acquired more buying power with the recent changes in 100 percent loan guidelines.

The guidelines for 80/20 and 75/25 Conforming Fixed-Rate loans now allow seller contributions up to 6 percent of the sales price or appraised value, whichever is less. Previous guidelines allowed only 3 percent contributions.

Now it’s easier to purchase the new home you deserve! Are you thinking of buying an Okemo Mountain home? Visit my website to view all real estate listings.

Tips For A Quick Sale This Winter

Selling a home in winter can have its pluses and minuses. On the plus side, there is less competition. On the minus side, days are shorter, the weather doesn't always cooperate and flowers aren't in bloom.

BankRate.com has some excellent tips to help speed up a winter sale:

1. Keep walkways and driveways clear of snow and ice. You may not have to mow the lawn or trim the shrubs, but in the winter, consider this duty your "yard work."

2. Present a warm and cozy home. Make sure the temperature is comfortable and not too cool for visitors coming in from the outside. Turn on gas fireplaces if you have them.

3. Show during "high-daylight" hours and make your home as light as possible. Clean blinds and curtains and keep them open during daytime showings. Put the highest wattage bulbs in amps and fixtures, and turn the lights on when you show. And wash your windows -- even a little bit of grime gives the impression that the home isn't well cared for.

4. Set the mood with a little soft background music and some pleasant smells. Light a few candles that give off a nice scent, such as vanilla. Just don't overdo it -- you don't want people to think you're trying to mask a bad smell.

5. Ask prospective buyers to remove their shoes or slip on paper booties over them. Doing so shows buyers that you are proud of your home and take meticulous care of it.

6. Emphasize the features of your home that make it a good place to live in the winter. If your roads are regularly plowed and de-iced, be sure to make it known.

For more information about selling Ludlow, VT real estate and Okemo Mountain real estate, visit my website. You'll be glad you did!

Vermont Ranks High In Education Survey

BurlingtonFreePress.com reports that Vermont public schools have ranked #3 in academic achievement behind # 2 New Jersey and #1 Massachusetts. this Ranking is a result of the Education Week Quality Counts survey.

Vermont ranked ninth among states on a chance-for-success index measuring demographic, economic and education attainment indicators. Virginia was No. 1 on the success meter and New Mexico was last.

The quality of education in Vermont makes it a great place to live. Are you thinking of buying a home in Ludlow, VT? Real estate here is affordable and offers an excellent quality of life. Visit my website to view all homes for sale in Ludlow and Okemo Mountain. Then, give me a call. I'm here to help!


Tags: burlington free press, education week quality count survey, ludlow vt real estate, ludlow vt home for sale, vermont public schools

Consumer Confidence Skyrockets

Consumer Confidence Index skyrocketed in December, increasing from 105.3 in November to 109.0 in December which could be an indication that the national housing slump may have ended. Full story...


Tags: consumer confidence, ludlow real estate, irene gaffigan

FreddieMac.com Reports Higher Mortgage Rates

Mortgage Rates inched higher this week according to FreddieMac.com's weekly Primary Market Mortgage Survey. The average rate for a 30-year fixed-rate mortgage is 6.18 percent compared to last week's 6.13 percent.

Rates were effected by increased consumer spending in November along with a increased new home sales causing concern over inflation. Read the full story...

BankRate.com 2007 Mortgage Tips

BankRate.com recommends 7 smart moves in 2007 for those with a mortgage or thinking about getting one.

If you would like to talk with a reputable lender about how much of a home you quailify for, please contact me. I am glad to put you in touch with a person who will provide you with excellent service and products. Also, visit my website for Ludlow, VT real estate.

Tags: bankrate.com, mortgage tips for 2007, ludlow vt real estate, irene gaffigan

Mortgage Insurance Becomes Tax Deductible

Mortgage insurance will become tax deductible in 2007 thanks to last minute passing of a law by the 109th Congress. Mortgage insurance is charged to borrowers who have less than a 20 percent down payment for govenment and private mortgages. The new law will allow mortgage insurance premiums to be treated like mortgage interest on tax returns saving Americans a considerable amount of money each year. Full story...

If youo are thinking of buying a home in Vermont or would like more information on how this new law effects your buying powewr, visit my website or give me a call. I'm here to help!

Tags: mortgage insurance, mortgage insurance tax deduction, ludlow vermont real estate, irene gaffigan

Home Renovations Less Profitable In 2006

A few years ago when the real estate market was booming and inventory was low, many homeowners decided to renovate their current home rather than sell and buy something larger that better suited their needs.

The National Association of Realtors has reported that the cost of renovations climbed in 2006, while the resale value of those renovations declined. Last year, for example, adding a master bedroom suite to a house cost an average of $75,959 nationwide and boosted the home's resale value by $64,419 - that's 84.8 percent of the cost recouped. The same job this year cost a lot more - $94,331 - and returned just $68,458, or 72.6 percent.

With the current leveling off of the real estate market, it may be time to rethink a remodel project vs buying a new home. Home sales have slowed causing inventory to increase and making it easier for buyers to negotiate contingency contracts. It used to be, a seller wouldn't think twice if you needed to sell a house prior to purchasing. But these days, sellers are thinking long and hard about working with a buyer who is also selling a home.

If you are considering a remodel vs buying, give me a call. I am glad to discuss your options with you so you can make the best decision for you and your family. Also, visit my website to view all Ludlow real estate listings.

Tags: ludlow vt real estate, irene gaffigan, home renovations costs,cost vs value

Interest Rates Decline For Fifth Consecutive Week

FreddieMac.com reports long term interest rates declined this week for the fifth consecutive week. The average rate on a 30-year fixed rate mortgage is 6.14 percent for the week ending Nov. 30. Down from 6.18 percent last week.

Rates like this make buying a new home for Christmas a great idea. Visit ISellVermontRealEstate to view all Ludlow and Okemo Mountain homes for sale.

Tags: ludlow vt real estate, okemo mountain, irene gaffigan

Holidays Kick Off In Chester

Overture to Christmas in 21st Year

Just as an orchestra warms up an audience with a taste of the music to come, so does the town of Chester with its annual "Overture to Christmas."Now in its 21st year, the event has grown to accommodate a number of holiday-themed events taking place locally. Details...

And if you are thinking you want to make Chester your new home, give me a call or visit my website. Here you can view all homes for sale, get current market values and more.

Tags: chester vt real estate, irene gaffigan

Hopes Are High For Snow!!

Mild weather is delaying opening of ski areas. The lack of snow coupled with rain and warmer-than-normal temperatures have forced even the largest ski areas in the state to delay their scheduled openings. There is a lot of cold air in Canada however it has not been able to push down here yet. Experts are watching the weather very closely in hopes of opening Thanksgiving weekend. Details

Thinking of buying or selling a vacation home in Vermont? Visit my website to view all real estate listings, get the current value of your home and more!

Tags: okemo mountain, ludlow vermont real estate, irene gaffigan

Should You Try to Sell Your Home During the Holiday Season?

A common misconception is that trying to sell a home during the holidays is a bad idea. If you are serious about selling, it can be an excellent time to list. During the holidays buyers are more serious. They have a different motivation like using vacation time to search for property. They're doing that because they have to buy, rather than want to buy. Remember Thanksgiving and Christmas is one day a piece not two months.

10 reasons why you should list your home during the holidays

1. Most November and December buyers are particularly serious and very likely facing some sort of deadline.
2. January is the biggest transfer month of the year and job transferee’s use the holidays to house hunt.
3. Many people want to buy before the end of the year for financial and tax reasons. Investors usually want to close escrow by year-end for tax purposes.
4. Most sellers wait until spring or summer to list their home. This means that during the winter months your property will have far less competition versus any other time of the year.
5. Homes show well when decorated for the holidays creating a sense of family and people are much more emotionally drawn to the house, emotion sells.
6. Many people take vacation around the holidays allowing more time to look for a home.
7. Remodeling, decorating, appliance installation and other services are more available and at less of a premium.
8. There is plenty of mortgage money available for buyers.
9. Lenders aren't as busy and can process loans faster.
10. Showings will be fewer and less intrusive, but more likely to be fruitful with motivated, qualified buyers.

Visit my website if you are thinking of selling your home.

Tags: ludlow vermont real estate, okemo real estate, irene gaffigan

Cavendish Real Estate For Sale

Cabin in the Woods

231 Lindberg Dr, Cavendish, VT

Small but in move-in condition...and room to expand, as this secluded one bedroom cabin sits on 2 wooded acres and is surrounded by 197 acres and which is part of the Vermont Land Trust.

There is a full basement with a partially finished room. A laundry room on main level big enough for small office. Also included are two out buildings...barn 48x22 with full loft storage and a 33x31 storage building.

Only 15 minutes to Okemo Mountain and close to the Black River.

Cavendish is located in the Okemo Valley and is made up of two villages, Cavendish and Proctorsville. Cavendish was created by New Hampshire Governor Benning Wentworth when he granted the land of Cavendish to sixty-six proprietors in 1761.

Cavendish population is approximately 1,500 and is a mix of residential and vacation home owners. It is the perfect spot for your "cabin in the woods." Contact Irene Gaffigan, 802-226-8022, for more information on this home. Or visit my website to view this home and all Vermont listings.

Tags: 231 lindberg, cavendish real estate, okemo mountain, ludlow vt real estate, irene gaffigan, united country farm town realty

Build Your Vacation Home At Lake Pauline

Ski, snowshoe and ice skate in the winter. Canoe, fish and swim in the summer. This is one of the last lots with water rights to Lake Pauline. Located in the town of Ludlow, VT and only 5 minutes from Okemo Mountian, it is the perfect place for winter or summer recreation. And don't forget the gorgeous fall color! Build one for you and rent the other to pay the mortgage!

State permit and septic design is approved for a duplex with 3 bedrooms each, plus a hot-tub.

Just under an acre of wooded seclusion. A place to enjoy nature at it's best and the opportunity to own Vermont real estate! For more information visit, ISellVermontRealEstate.com.

Tags: vermont real estate, Ludlow real estate,okemo mountain

Land Rover Tax Advantages

Small business owners can take advantage of accelerated tax depreciation benefits just by purchasing a new Land Rover before December 31, 2006. See your tax advisor to determine if you are eligible for this benefit. Visit landroverusa.com/taxbreak for details.

There are also tax advantages to owning Vermont real estate. The interest you pay on the mortgage for your personal residence is tax deductible. Are you thinking of buying central Vermont real estate? Visit ISellVermontRealEstate.com to view all Vermont real estate listings.

Tags:vermont real estate, central vermont real estate, central vermont real estate listings, irene gaffigan, land rover tax advantages

500 Real Estate Blogs To Watch

I'm going to take this opportunity to pat myself on the back! There are hundreds of thousands of real estate blogs out there in cyberspace...some good, some bad and some just plain ugly. This Blog one has been chosen for Pittsburgh Home Daily's 500 Real Estate Blogs To Watch.

It is an honor and a privilege to be on such a list!

And don't forget, visit my website and contact me when buying or selling a home in Okemo Vermont and the surrounding areas. On my website you can view all Vermont real estate listings, get the current market value of your home and more!


Tags: pittsburgh homes daily, 500 real estate blogs to watch, vermont real estate, okemo real estate, okemo homes for sale