Peggy Smith

The light is low and blue these winter mornings as the sun rises. There are other days Mt. Mansfield glows like an old time cream popsicle. The snow coats the trees like a woolen scarf. The dogs snuggle closer into the comforter hoping that I will roll over and go back to sleep. But that will not happen because I want to get to the mountain and ski before I have to go to work. Can I really be so lucky to live in a place where a coffee clutch with my girl friends means meeting in the parking lot at the mountain, throwing on my boots and heading up for the first run? Or getting to the office at 10 AM knowing I have five runs under my belt? Who can beat that? For me, ”this place I live” is paradise.

Today I woke up to large flakes drifting past my window and by the time I got to work we were in the middle of a snowstorm. It was delightful and added to the holiday spirit.

On Wednesday, December 30th I am having an open house at Adams Mill in Moscow, Vt. from 4 to 7 pm. Please come if you get the opportunity. This is a chance to see the renovations that has been done on this historic home. The owners have kept the traditional Victorian farmhouse style on the exterior but have created a truly exciting modern interior. There are two units each with three bedrooms plus an office area. The four original stained glass windows have been kept and add a touch of color to the master bedrooms and the office area. The two bay windows, a part of the original house, grace the living room areas. Each unit has its own distinct personality. Available with each unit is a one car garage in a lovely carriage house. There is a studio above the garage with kitchen and bath that is available to be purchased for $160,000 with either unit. The south side is offered at $749,000 and the river side is offered at $859,000.

Come, join us for wine and cheese, tasting some of Vermont’s world famous artisans cheeses from the Mt. Mansfield Creamery. Directions to the property are as follows:

Take Route 100 South from Stowe Village to the Moscow Rd. Turn right onto Moscow Rd. and follow the road to the first road on left, Barnes Hill Road. Bear left to the first right, Adams Mill Road. Bear right and go to the end of the road where you will see a large Victorian farmhouse.

I am very excited to have completed the short sales and foreclosure course and will be certified by January 1, 2010. I am about to begin my first short sale and have decided to keep everyone up to date with the process. This will either discourage anyone from trying it or it will at least educate people in the process. What I know so far is that you need a lot of patience and perseverance. So far I have been hung up on by an un-named lawyer who started the conversation by “I don’t mean to be rude…” and then finished by hanging up on me. However, I am a hardened real estate agent that can take rejection. Tomorrow I begin with the banks. I can already tell this is not a job for the faint of heart.

What really gets me, is how complicated it is. If the powers that be want to stimulate sales and get the economy moving they should mandate that the banks streamline this process for all concerned. There have been certain acts put in place, such as the ” Home Affordable Foreclosure Alienation Act” (HAFA) that do help those about to go into foreclosure. There really is not enough information out there in the public eye. Over 50% of the people that are about to face foreclosure have no idea where to turn. Most of these people ignore all of the notices and just wait until the eleventh hour. A foreclosure will affect your credit score by 200 points while a short sale will affect it by 50. If more people knew this they would seek professional help to accomplish this. My best suggestion is if there are people out there that are experiencing impending foreclosure that they consult with a lawyer, and an account who specializes in foreclosures, bankruptcy, and short sales. Secondly I would contact a real estate agent in your area who is knowledgable in foreclosures and short sales. Above all do not ignore the notices. There is help and solutions out there.

Stowe is holding its annual Vermont Foodbank Day this Sunday, April 19th.

Go enjoy one of the last days on the hill this weekend. Bring two canned goods and you can get a $35 lift ticket voucher! A great day to ski and support a great cause!

The America Recovery Act of 2009 is a result of the new stimulus package Obama has recently signed. I have been receiving some great information regarding this act and how it will effect 1st time home buyers, tax credits and real estate as a whole from Jeff Teplitz over at National City Mortgage in Burlington VT. I wanted to share the information with you here. Below you will find 2 files. One outlines the tax credit 1st time home buyers who purchased last year after April 9, 2008 or who purchase this year can expect. The other is more general information outlining the highlights of the Act.

I hope you find them useful!

Recovery Act of 2009 for First-time Homebuyers

Recovery Act of 2009 Highlights

Stowe Mountain is running a great ticket special for Vermont students who are now on spring break. The deal also extends to their families. A 3 day lift ticket for the price of $99! Even if you only go 2 days, you get your moneys worth.

Here are details: Adult or Child 3-Day Consecutive Lift Ticket for $99 (includes VT Sales Tax). Available Monday Feb. 23 through Friday Feb. 27, 2009. You must present a valid VT ID. This promotion cannot be combined with any other offer, promotion or discount.

For more information visit www.stowe.com or call 800.253.4SKI

I found this great blog, thanks to Jeff over at National Morgage. It is called Mortgage News Daily, you’ll find it in my blogroll moving forward.

Check out yesterday’s rate update “Wednesday 2/11…Decent Rally Yesterday in MBS” or for daily updates check out the Mortgage Watch.

Check out the latest interest rates I received from Jeff Teplitz of National City Mortgage in Williston, VT. FHA rates are slightly stronger than the conforming 30 year loan.

Paying points may be back in style. At this time the difference between the 30 year, no point loan and the 30 year 1 point is .875%.  The net savings is $54.72 per $100,000 of loan amount per month.

It will only take 18 months to realize the savings of paying the 1 point.  Well worth it to get a 5.00% interest rate.

Read the rest of this entry »

This is a great article talking about why Vermont has the lowest rate of foreclosures in the country. Something that has allowed homeowners to maintain a truer property value than a lot of other states. The article is from bloomberg.com “Vermont Foreclosures Held Off by Yankee Ways, Land-Use Laws“

By Brian K. Sullivan

Jan. 29 (Bloomberg) — Vermont is avoiding the foreclosure crisis plaguing homeowners across the U.S., perhaps owing to traditions of thrift, modesty and self-reliance — bolstered by laws that protect buyers and land.

The foreclosure rate in Vermont is the lowest in the U.S., 0.04 percent of all homes in the state, according to RealtyTrac Inc. of Irvine, California.

To read the full article click here.

The word is out in a BIG way about the Stone Hut located just off the top of the quad lift at Stowe Mountian Ski Resort. The NY Times is writing about the already hard to book Stone Hut, so if you want to get in next season, maybe submit your lottery request NOW! You can do so on the Vermont State Parks site here: http://www.vtstateparks.com/htm/stonehut.cfm

It is a great article, check it out “Spending the Night Atop Mt. Mansfield”, NY Times, 1/23/09

Image from NY Times article, Spending the Night Atop Mt. Mansfield, 1/23/09