Ludlow July 4 Fireworks

If part of your annual Independence Day celebration includes watching fireworks, you can enjoy them at West Hill Park in Ludlow. The fireworks display begins at dusk with children's games during the day.

Location: West Hill Park.
Time: Dusk.
Information: 802-228-5830.

See you there!

For Ludlow real estate information, visit ISellVermontRealEstate.com.

Homes That Save Buyers Money

This article by Linda Legner was posted on the Vermont Association of Realtor website and I thought you would find it informative:

More buyers are taking the environment into account when searching for a home—they’re looking for earth-friendly features that translate into lower energy bills and less pollution.
This growing trend gives you the opportunity to make your listing stand out from the rest by calling attention to all of its energy-efficient amenities, from properly-sealed windows to Energy Star appliances.

Whether your listing is a brand new condo or an old Victorian, just a bit of investigating can uncover many “green” features that will grab buyers’ attention. Use this list to identify areas of the home where energy efficiencies may be lurking:

• Appliances and lighting. From the laundry machine to the dining room chandelier, energy-efficient products are proven to save money and consume less energy. To confirm that various products outperform average standards, look for the blue-and-white Energy Star label. The U.S. Environmental Protection Agency issues this designation only to products that are among the most efficient on the market. The Energy Star Web site provides a comprehensive list of all Energy Star Qualified Products.
  
• Insulation. Air leaking through exterior surfaces—such as walls, windows, the roof, and the floor—can waste 25 percent to 40 percent of the energy used to heat or cool a home, according to Energy Star. Local building codes and the U.S. Department of Energy specify acceptable insulation, measured in R-values. The higher the R-value, the more effective the insulation. If your listing has insulation that surpasses local standards, that’s an advantage you can tout to potential buyers. Be sure to mention insulation installed in attics and crawlspaces. Also, don’t forget to point out wraps, sealants, foams, and tape installed to reduce air moving through the gaps around framing, piping, electrical wiring, and outlets.
  
• Windows. Depending on the climate and total glass area, windows account for 25 percent to 50 percent of a home’s heating and cooling needs. But technological advances in window materials mean much better energy efficiency. U-Factors rate insulating ability for windows; the lower the U-Factor, the better the insulation of the window. Typical U-Factor values range from 0.25 to 1.25. If your listing has insulated window frames or frames made of low-conductance materials (wood, vinyl, or fiberglass), you should call out these features to potential buyers.
  
• Heating and cooling systems. Efficient heating, ventilation, and air conditioning equipment consumes less fuel, emits less pollution, and generally requires less maintenance. A furnace’s heating efficiency is measured by the annual fuel utilization efficiency rating, or AFUE. The U.S. Department of Energy requires all furnaces sold in the United States to have a minimum AFUE rating of 78 percent, which means that the furnace converts 78 percent of the fuel to heat. Only ratings of higher than 90 percent earn the Energy Star label. Similarly, air conditioners should have at least a 10 seasonal energy efficiency ratio, or SEER. Energy Star requires a SEER rating of 12 or higher.
  

If the home has zoned systems that allow different areas to be heated and cooled separately, let potential buyers know that these features deliver additional operating savings. Point out programmable thermostats with timers and variable-air controls, as well as ceiling fans. Let buyers know if a fireplace has glass doors and a heat-air exchange mechanism, which returns warmed air to the room instead of letting it escape. And don’t forget to promote radiant flooring, which heats from the ground up and eliminates the draft and dust problems associated with forced air heating systems.

• Landscaping. Well-done landscaping can greatly reduce heating and cooling costs, protect the home from winter wind and summer sun, and help control noise and air pollution. Also, some species of trees, bushes, and grasses require less water than others, or are naturally more resistant to pests so they require fewer pesticides. Learn what kind of plants and trees are growing around the house and promote all of their benefits to buyers. For more details on what to look for, visit Landscaping for Energy Efficiency, an online guide from the U.S. Department of Energy.
  
• The entire house. Some new homes are rated for overall efficiency by the Energy Star program. A new home certified through the Energy Star program performs at least 30 percent more efficiently than houses built to the 1993 Model Energy Code (or 15 percent more efficient than your state energy code if that is more stringent). The Energy Star designation is verified by an accredited home energy rater and displayed on the inside of the circuit breaker.
  

Even if your listing isn’t a home that buyers would traditionally think of as being green, it is sure to have at least some eco-friendly features that will give it a marketing edge. Let potential buyers know how the home will help their energy bills and the environment, and you may be surprised at how fast you can clinch the sale.

Learn More

• Energy Star ProgramThe U.S. Environmental Protection Agency introduced Energy Star in 1992 to identify and promote energy-efficient products to reduce greenhouse gas emissions. The label is now on appliances, lighting, home electronics, and other products. It also covers new homes and commercial and industrial buildings.
  
• Glossary of Energy-Related TermsThe acronyms alone can be confusing! If you can’t recall what AFUE measures or what SEER stands for, come to this glossary for clarification. You’ll also find definitions for hundreds of energy-related words.
  
• Energy Savers: Tips on Saving Energy & Money at HomeThis site, from the U.S. Department of Energy’s Office of Energy Efficiency and Renewable Energy, offers energy-saving tips for all areas of the home, plus a variety of booklets you can download and print in English or Spanish.
  
• Energy Efficiency and Renewable EnergyThis portal site by the U.S. Department of Energy provides links to other Web sites and online information on energy efficiency and renewable energy.

Besure to visit my website for all your Ludlow VT real estate needs.

Happy Fathers Day

Father's Day is this Sunday. In honor of all the fathers and father figures, I’d like to share a short three minute movie titled: To A Child Love Is Spelled T-I-M-E. It’s one of my all time favorites, and it takes my breath away every time I watch it!

So sit back, turn up your speakers and click on the link below. And please share it with friends, family members and co-workers. They’ll love you for doing it!

Click here to watch the movie

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!

Vermont Interest Rate Update

It's time to check out interest rates, as I haven't reported on them recently. Historically, interest rates go up in the spring, but we haven't seen much movement this spring which is good news for Vermont home buyers.

Freddie Mac's weekly Primary Market Mortgage Survey reports a slight increase in rates this past week due to economic growth outside of the housing market, with a healthy consumer sector and improving business spending.

Interest rates this past week on a 30-year fixed-rate mortgage averaged 6.42 percent compared to the previous week's rate of 6.37 percent. This time last year, a 30-year fixed-rate mortgage averaged 6.67 percent.

Are you shopping for a mortgage for your Vermont home? This can be a daunting process, but I am glad to refer you to a reputable, knowledgeable and competitive mortgage lender who will take the time to explain your loan options to you. This will allow you to make an educated decision about which home loan is best for you. Just give me a call at 800-659-1819 #103. I'm here to help.

Be sure to visit my website to learn more about mortgages and the home buying process.

Freedeom Isn't Free

No, Freedom Isn't Free
By CDR Kelly Strong, USCG (Ret).

I watched the flag pass by one day.

It fluttered in the breeze.

A young Marine saluted it,

And then he stood at ease.

I looked at him in uniform

So young, so tall, so proud,

With hair cut square and eyes alert

He'd stand out in any crowd.

I thought how many men like him

Had fallen through the years.

How many died on foreign soil?

How many mothers' tears?

How many pilots' planes shot down?

How many died at sea?

How many foxholes were soldiers' graves?

No, freedom isn't free.

I heard the sound of taps one night,

When everything was still

I listened to the bugler play

And felt a sudden chill.

I wondered just how many times

That taps had meant "Amen,

"When a flag had draped a coffin

Of a brother or a friend.

I thought of all the children,

Of the mothers and the wives,

Of fathers, sons and husbands

With interrupted lives.

I thought about a graveyard

At the bottom of the sea

Of unmarked graves in Arlington.

No, freedom isn't free.

60 Minutes Attack On Realtors

I have always enjoyed 60 Minutes and thought they provided fair and unbiased reporting. But that changed Sunday night with Leslie Stahl's segment, Chipping Away At Realtors Six Percent.

The report focused on an Internet based company, Redfin, whose business model is based on rebating commissions to buyers. The company uses the very commissions Redfin criticizes Realtors for collecting to its advantage. From what I could tell, without these commissions Redfin has nothing to offer the consumer.

Much of the information presented in the segment was incorrect and the National Association of Realtors was not interviewed to give another viewpoint, even though they offered more than once.

NAR's response to 60 Minutes can be read here.

Energy Efficient Homes

As we become more aware of how fragile our environment is, we are becoming more concerned with improving the efficiency of our homes. One way to do this is to conduct a Home Energy Audit to determine how and where we can save.

If you are considering building a new Vermont home, you might want to consider working with a builder who uses Energy Star products. They use less energy, save money, and help protect the environment.

Give me a call at 800-659-1819 #103, if you want more information concerning building a Vermont home. I am glad to put my experience and expertise to work for you.

Irene Gaffigan Earns Quality Service Certification (QSC)

For the first time a standard of service and accountability is being offered to consumers in the area of the quality of real estate service delivery. Irene Gaffigan of United Country Farm Town Realty, Proctorsville office, has just completed the requirements to earn Quality Service Certified® professional recognition. Holding the Quality Service Certification® requires a sales agent to follow a well-defined and prescribed process of service, to present that process in writing to every customer and client, and to guarantee its delivery.

According to Larry D. Romito, President, CEO of Quality Service Certification, Inc., “ Irene Gaffigan has joined a growing number of real estate professionals nationwide who are committing to the delivery of a defined service process and a higher standard of accountability in service delivery and customer satisfaction. This is an industry breakthrough in the establishment of a measurable standard of care and service.” An integral part of the sales agent’s ability to maintain Quality Service Certified® status, rests with service evaluation feedback from every buyer and seller served. Following the closing of each home purchase or home sale, an independent research company sends the consumer a Quality Service Assurance Survey? asking tough questions about the details and overall satisfaction of service provided by the sales agent and broker.

“Sales associates and brokers are highly motivated to protect their Quality Service Certified® status by delivering better service satisfaction, more service value and higher accountability. The Quality Service Certified® total service system offers a predictable, accountable, reliable, and consistent service outcome.” Romito added, “The era of real estate service ‘improv’ is coming to a close. The purchase or sale of what for most of us is our most valuable asset deserves the serious attention and accountability of a defined, written and communicated service process with measurable standards and that’s exactly what a Quality Service Certified® professional must deliver.”

Quality Service Certification, Inc. of San Juan Capistrano, California is the leading firm in service process delivery and measurable quality control in the real estate industry. Company spokesperson can be contacted at (949) 481-4438 or http://www.qualitycertified.org/.

How To Sell Your Vermont Home Fast!

The number of Vermont homes for sale has increased dramatically in the last year, causing homes to stay on the market for longer periods of time. If you are selling a home and want it to sell FAST, you'll be interested in my FREE e-Book, '450 Ideas To Sell Your Home Faster'. Here you will learn tips and tricks to make your home sell faster and for more money.

Get your copy today and give me, Irene Gaffigan, a call at 800-659-1819 #103 with any questions you might have or to get a current market valuation on your Vermont home.

Second Home Tax Rules

Vermont has seen an influx of second home buyers in the past few years. Here are some second-home tax rules to keep in mind.

Mortgage interest.
The mortgage interest you pay on your second home is tax deductible just as the interest on the mortgage on your first home is.

You can write off 100% of the interest you pay on up to $1 million of debt secured by your first and second homes and used to acquire or improve the properties. (That's a total of $1 million of debt, not $1 million on each home.)

However, if you rent your second home for more than 14 days a year different rules apply. See below.

Property taxes.
You can deduct property taxes on your second home, too. In fact, you can deduct property taxes paid on any number of homes you own.

Renting.
If you rent your second home out for 14 or fewer days during the year, you can pocket the cash tax-free. The house is considered a personal residence, so you deduct mortgage interest and property taxes just as you do for your principal home.

If you rent for more than 14 days, though, and you must report all rental income. You also get to deduct rental expenses, and that gets complicated because you need to allocate costs between the time the property is used for personal purposes and the time it is rented. Taxes are based on the amount of time the house is rented and it is a good idea to talk with your accountant concerning details.

Tax-free profit.
You are allowed to take up to $500,000 of profit tax free when selling your principal residence. However if you make your second home your principal residence, you can extend this deduction.

Some retirees, for example, are selling the big family home and moving full time into what had been their vacation home. Once you live in that home for two years, up to $500,000 of profit can be tax free. (Any profit attributable to depreciation while you rented the place, though, would be taxable. Depreciation reduces your tax basis in the property and therefore increase profit dollar for dollar.)

Are you thinking of buying a second home in Vermont? Visit my website to view all Vermont real estate or give me a call at800-659-1819 #103. I'm glad to help you find your Vermont vacation home!

Vermont Interest Rates Decline

Freddie Mac has released the results of its Primary Mortgage Market Survey®. Rates have decline for the first time in six weeks due to signs of moderating inflation.

The rate for a 30-year fixed-rate mortgage averaged 6.17 percent, down from last week when it averaged 6.22 percent. Last year at this time, the 30-year averaged 6.53 percent.

This is great news for Ludlow home buyers. Historically rates inch up during the spring buying season. Now is when the most homes are available for sale and to have rates low is having your cake and eating it too.

Thinking of buying Ludlow real estate? Visit my website to view all Vermont real estate listings or give me a call at 800-659-1819 #103.

Saving The Down Payment For Your Vermont Home

Foreclosures are on the rise. Lenders are tightening their belts and their lending practices. No money down loan programs are becoming harder to find, which means Vermont home buyers need to have money available for a down payment. Here are some tips on how to come up with the down payment.

1. Ask for help.
Ask relatives if they would be willing to contribute to your down payment or give you a no interest loan with no repayment time frame.

2. Borrow from your life insurance.
If your life insurance has built up value, you can borrow against it. this does not count as a debt because you are borrowing from yourself.

3. Borrow from your IRA.
First-time home buyers can take $10,000 for an IRA to put toward a home purchase, penalty free.

4. Increase your income.
Get a second job and stash or do free lance work.

5. Change your withholding taxes.
This will give you more take-home pay, which you can start saving!

6. Consider government backed loans.
VA and FHA loans require lower down payments and there are many state loan programs available.

For more information on how to save your down payment and the Vermont home buying process, visit my website or give me a call at 800-659-1819 #103 for more personal service.

Pending Home Sales Index Declines

The National Association of Realtors reports the Pending Home Sales Index, which is based on contracts signed in February is at 109.3, down 8.5 percent from February 2006. David Lereah, the chief economist for NAR, attributese this decline to unusually bad weather in February and the problems in the subprime market. Read the full story...

For updates on Ludlow real estate market, visit my website or give me a call at 800-659-1819 #103.

Tax Deduction For Prepaid Interest

Tax Day is only a couple of weeks away. Don't forget to claim the deduction for the mortgage interest you paid at closing when you bought your home.

All mortgage interest is tax deductible. You should have received a year-end statement from your lender showing how much interest you paid for 2006. However, this statement does not include the interest paid at closing. You will need to pull out your settlement statement or HUD-1 to determine how much interest was paid at closing. This amount can then be added to the number on your lender's statement. If in doubt, provide your HUD-1 to your accountant or tax preparer.

For information about buying a home in the Ludlow, VT area, visit my website or give me a call at 800-659-1819 #103.

Ludlow Home Buyers Can Now Finance Repairs

Vermont Housing Finance Agency (VHFA) has made it easier for home buyers purchasing a rehab to borrow the money for needed repairs.

For mortgage loans that close on or after Feb. 1, 2007, VHFA will now allow the total cost of repairs to be included in the mortgage loan as long as those costs do not exceed the lesser of $25,000 or 25 percent of the purchase price which must include a 10 percent contingency. For loans that meet specific requirements, VHFA will purchase loans from lenders with an outstanding escrow for those repairs.

Eligible repair items include: items to complete the property, increase living space, construct a garage (maximum two-car), correct structural issues, bring property up to building codes or standards, correct or add needed safety features, repair or modernize mechanical and/or plumbing systems or fixtures and to repair or improve internal or external surfaces.

Contact me for more information on this program at 800-659-1819 #103

Time for a Vacation Home?

Pros and Cons of a Second Home
Buying a second home is a big step and likely your second most valuable investment. Never rush into a second home purchase. You need to consider it over time. Determine how much use your vacation home will get and how it can fit into your finances.
Don’t forget to double everything. Buying a vacation home means that you will not only have two mortgages, but two property tax bills, water bills, fuel bills etc. Two homes mean more maintenance, including two plumbing and heating systems, septic systems, and roofs. And if something breaks down in your second home, chances are you may not be there to see it. For some, this is just too stressful.
At the same time, owning a second home can be very rewarding. It can be the source of relaxation: a time to get closer to your family, a place to be a kid again, and a place to meet new friends. It can even be a place to retire.
Lastly, owning your own home is not like renting. You get to leave your stuff there to truly make it yours. You can make impromptu escapes, leaving the stress behind. And your children and grandchildren will feel more comfortable in a place they have learned to call home.
If you’re thinking about buying a vacation home, you’re not alone. The rate of second homeownership has jumped, as large numbers of Baby Boomers move into their prime wage-earning years. It is estimated that 6-10 percent of homes in the United States are second homes. That number is much higher in desirable vacation communities.
According to the U.S. Census Bureau, 32 percent of homes on Cape Cod are seasonal and prices have increased by more than 60 percent since 2000. Seasonal homes represent an even higher percentage on Cape May – 48 percent – and prices have increased by more than 70 percent since 2000, dwarfing the national average, which increased by about 32 percent.
The trend of second home ownership shows no signs of slowing. People in their 40s, 50s, 60s, and beyond are much more active than their parents. They’re seeking outlets for fun, and with two wage-earners at home who have more disposable income than ever, the trend of second home ownership will continue.
If you’re considering a second home purchase, where do you start?
► Location. Consider your personal tastes, interests, and hobbies when you’re choosing a second home. For example, if you’re the type of person who thinks anything over a two-hour ride is long, you’ll have a fairly small geographic area in which to conduct your search. If you plan to use your second home for a couple of vacations every year and long holiday weekends, then you can extend your search to a larger radius. Many second homeowners purchase properties in their favorite vacation spots because they already enjoy the area and want to spend more time there.
► How much are you willing to spend?
Prices can vary greatly. Up and coming communities are less expensive than established vacation hotspots which have seen explosive appreciation. Prices in these popular areas range from a home on the beach worth $1 million to the same-sized home a mile down the road worth half that price. Check current mortgage rates to get an idea of what your monthly payment might be. Don’t shy from jumping in the car and spending weekends looking for different vacation homes.
► Get more specific on your location.
Is your dream vacation home near the lake or on the lake? Do you want to water ski on that lake? Or do you seek a quieter spot to kayak or fish? Or is the lake in the mountains so you can combine winter and summer sports? Is it in an area that is a plane ride away, but one in which you hope to retire? This part of the process will take some time, but you can easily find the prices of second homes in your desired area without leaving your computer.
► Think about what it should look like.
Is your dream vacation home a rustic cottage near the ocean? Or is it a condominium on a golf course? Perhaps it’s a ski chalet in the woods. You also need to determine how big it should be. Is it just for your immediate family or would you like to invite your extended family and friends?
► Find a great real estate agent.
This step is absolutely critical. A terrific real estate agent can not only find you a great home, but find one in a town with moderate property taxes and fun neighborhoods for your children. They can help you with the finerpoints of owning a second home – everything from obtaining beach stickers to trash removal to finding someone to watch your second home when you’re away. And if you rent out your second home, the agent can help you determine the rental price. When you are ready visit: http://isellvermontrealestate.com
► Take your time.
It’s tough to look for a second home, even with the Internet simplifying the process. A growing number of real estate agents make both interior and exterior photos available online to narrow your search without driving back and forth. Remember - rushing into a second home purchase can be a mistake. A trailer on the lake might look good today, but thinking about your long-term goals could lead you to a cottage down the street from a lake, just a mile from the ocean. Look at a second home in the same way as your primary home. The most costly home repair projects are:
Kitchens
Bathrooms
Heating systems
Roofs
That doesn’t mean that you shouldn’t purchase a second home with an outdated kitchen. Just understand that if you can’t tolerate the current kitchen, it could cost you $10,000 to $40,000 to update. Unlike your primary home, you’ll have the additional challenge of managing a renovation project long distance with a quality contractor you can trust.
Buy a second home that suits your personality and needs. If you don’t like working on your primary residence or dealing with contractors, look for a home that needs little work. At the same time, buying the smallest second home in the best neighborhood you can afford means your investment may appreciate at a higher rate.
While rentals in your chosen area may be strong today, make sure you can afford the mortgage without any rental income when budgeting for your purchase. There are many facets of second home ownership that are out of your direct control – everything from a gasoline shortage to a hurricane.
Taking the time to choose wisely means monitoring events in your desired vacation community. Learn how long homes have been on the market to get an idea of how much room you have in negotiation. Learning the overall direction of housing values in your region also helps you make educated buying decisions.

Okemo Luck Of The Irish

Okemo Mountain is experiencing the 'Luck Of the Irish' this St. Patrick's Day weekend with new snow falling. Visit their website for some amazing spring deals.

For amazing real estate deals in Okemo and Ludlow, visit ISellVermontRealEstate.com. You'll be glad you did!

VT To Address Housing Affordability

67 percent of Vermont residents cannot afford to buy the average priced home in Vermont according to a reort released by the Vermont Housing Council and the Vermont Housing Awareness Campaign along with several other agencies and groups.

The average price of a home has risen 97 percent since 1996 to $197,000. An income of $66,000 is needed to purchase a home at this price, which is out of reach for 33 percent of Vermont residents. Home prices rose only 8 percent last year, but have risen 97 percent since 1996.

Additionally, the report reveals the cost of new housing has increased by 15 percent to $282,000, meaning that a Vermont family would need an annual income of $93,000 to afford to build a new home.

The Governor and the Legislature are both promising to address the rising cost of housing with several bills being introduced to bring relief to the affordability crisis. Let's hope this not not too little too late. Read the full story here.

If you are thinking of buying home, visit my website to view all Ludlow real estate listings or give me a call, 800-659-1819 #103. I have a network of lenders that can help you buy the Vermont home of your dreams.

Interest Rates Drop Again

The results of FreddieMac.com's Primary Mortgage Market Survey show a lowering of interest rates for the second week in a row. The average rate for a 30-year fixed-rate mortgage was 6.18% last week, down from the previous week's 6.24%.

"Mortgage rates drifted lower this week largely on the basis of new economic information suggesting a slower economy and lower inflation," said Frank Nothaft, Freddie Mac vice president and chief economist.

This drop in rates reinforces last week's post that it is an excellent time to buy Ludlow real estate. Are you in the market to buy a home? Visit my website to view all Ludlow real estate listings. Or for more personalized service, give me a call, 800-659-1819 #103.