Peggy Smith

I have had several phone calls in the last couple of months from potential customers and past clients that have asked me about building. My standard answer has been, if you can find a home you like, it is better to buy than to build. But lately I have been rethinking this.

In the latest issue of Money Magazine (April 2008) there is an article (Dream It, Build It) about building your dream home. The article makes an argument stating that” now “might be an excellent time to build that home. It says that “behind the dark clouds hanging over the houseing market is a very compelling silver lining. The cost of building your dream house is coming down.”

Why would this be? Well, there are many factors, but the main one is; the cost of raw materials has dropped and contractors are not as busy as they once were. In interviewing some modular home companies I have found that the demand for modular homes is so far down that some companies are running on a skelton crew. What this means to you the consumer is; dollars are not coming out of your pocket. Money Magazine states that framing lumber is 18% cheaper thtn 18 months ago and that drywall is selling for 40% less.

Not only are prices dropping in the construction area ,but also land prices have dropped in Vermont; in some cases 48% of the asking price from 2006. This is not as true in resort areas such as Stowe. The list price of land might not have dropped, but the actual sale of land has done so. We have seen the listing price of large lots over 25 acres being dropped while the smaller lots prices have stayed the same. Overall, large or small lots have not seen a record number of sales, and this has lead to lower sales prices.

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Check out the newest book from Amazon: The Kindle.

If you don’t have one of these you are missing the best thing ever. This was the only thing I had on my Christmas list and they are so in demand that I did not get it until the middle of February. I am an avid reader and when I go on vacation my suitcase is heavy because I take so many books. I never have enough books and many times I am in countries where it is difficult to get English books;when you do find them, they are what I call “airplane novels.”

When I clicked on Amazon.com to order books for Christmas presents last December ,the above ad was on the home page. Shortly after that, I read a review of the Kindle by someone that bought one. It compared it to the Sony E book and the Kindle came out top over all E books.

Here are a few features that I find amazing:

1. You have a large selection of font sizes for every ones preference.

2.The books are sent to you over a cell line, not an internet line. This has advantages and disadvantages. As long as you are within cell service you can receive books, newspapers and magazines. However, the cell service that Amazon uses does not work at my house, even if my cellphone does. It does work in the village of Stowe so all I need to do is drive downtown, turn on my Kindle and whatever I ordered is there.

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I have to say it has been awhile since I have written in my blog. The Fall flew by and real estate in Stowe continued to sell which shows that Vermont is somewhat insulated from the rest of the country. I thought you might find this article interesting. It gives a great perspective. I hope ou all have a wonderful holiday and the best news of all is that THERE IS SNOW IN STOWE!

I recently came across this article by Bernice Ross, it gives an outlook on Real Estate in 2008. I thought I would share it with you. Please read on…

Outlook for Real Estate in 2008 

In all the years I’ve been writing this column, I have never received such an outpouring of response as I did from the two November articles on how media coverage of negative housing news is hurting our industry.

In spite of gloom and doom of recent news reports on the state of the nation’s housing, there is plenty of good news, the most recent of which comes from the National Association of Realtors.

Laurence Yun, the chief economist for NAR, had plenty of positive news for Realtors at last month’s conference. Yun attributed much of today’s subprime mortgage problem to greed. Wall Street wanted the 10-12 percent return that subprime mortgages yielded as opposed to the smaller returns from more traditional mortgage products. His take on the Wall Street types: “They gambled. They lost.”

Yun’s outlook for 2008 sees a shift from greedy speculators to serious homeowners. 2008 will be a year of opportunity where there will be serious, healthy business. Furthermore, Yun predicted that the market returns to normal by 2009. (more…)

As a REALTOR in Vermont, I hear more and more about Green building. I recently came across an article on RISMedia addressing the issue: “Real Estate Industry Leaders, USGBC Discuss Next-Generation ‘Green Buildings’”

The sum up the issue well in this statement: “Green building has moved from a frill, to a necessity,…”

Interested in reading more? Click here to read the full article.

If you are interested in learning some of helpful points to your sell your house, I recommend you watch this video:“How to Sell Your House (in a crappy market)!“.

Sometimes it is better to listen to what experts outside of Vermont have to say. It is a quick and easy video to watch, just four minutes long. It offers good advise on selling your home in the current market. Go to How to Sell Your House and see what the experts have to say.

Also I am offering a FREE book on “Who’s the Best Person to Sell My House?”. Just make a comment on my blog and I will be happy to send you a copy

To Search the MLS check out my website: Peggysmithvt.com

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We won, we aced the competition out and we are having the Fed Cup here at Topnotch Resort in STowe, Vermont. The Fed Cup is like the World Cup of soccer. This is happening on July 14-15,2007, The Fed Cup was established in 1963 to celebrate the 50th anniversary of the International Tennis Federation. Eighty-nine countries compete in the Fed Cup. (more…)

Can you believe it just snowed another foot in the last two days. Stowe is hopping with visitors and the mountain has all of the trails groomed for the absolute best skiing. The Wintermeister is this week-end so we will be able to cheer on our favorite athlete. Everywhere else people are beginning to look toward spring but here in Stowe we are enjoying winter skiing with spring air. The sun is out, the sky is blue and it is like having our own private mountain. I went this morning and I can’t tell you how much fun it was.

The woods are showing signs of spring so cross country skiing is beautiful with pillowy puffs of snow on the pines and sap buckets among the maples.

If this doesn’t get you to Stowe I can’t imagine what else could entice you. Perhaps a new home? Don’t forget when it comes to real estate I am your expert on Stowe and the surrounding areas. Call me, we can go skiing and look at houses. What more can you ask for?

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