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.

Plus a Calendar showing the most important economic indicators and their upcoming release dates.

But, through it all, it seems the real estate market in Stowe VT is holding strong. Prices have been holding steady and buyers are still coming to the table to … buy. Just this month The Stowe Reporter had 2 articles on the topic. Check them out in the below links. If you have any questions, post me a comment or shoot me an email. I’ll be happy to give you my insight on the Stowe Real Estate market.

Stowe Reported Real Estate Articles

Prices steady, but selling property takes longer, 10/16/08
By Lisa McCormack

Stowe real estate market bucks national downtrend, 10/21/08
By Lisa McCormack

Please see the following document Coldwell Banker Mortgage Memo. If you have any questions, give me a call and I’ll be happy to answer what I can.

“Vermont is insulated from much of the housing crunch drama afflicting other parts of the nation, Allen said. Unlike some areas, especially places like Florida and California, Vermont does not have much of an oversupply of houses and condominiums for sale, Allen said. A large oversupply tends to drive prices down sharply.Also, speculators built a lot of housing in some corners of the nation, anticipating huge profits that failed to materialize, Allen said. Vermont experienced little speculative building, he noted.For those who can afford it, Allen said 2008 might be a decent time to buy. “Prices are high relative to historic standards, but there may be pockets of opportunity because the market is slow. They might find sellers more willing to make some concessions,” Allen said. Torpy of the Champlain Housing Trust said programs to encourage affordable housing should remain intact and fully funded.

But even with the high price of houses and condominiums, people with moderate incomes who are have done their research and are sure their finances are stable can buy a home, Torpy said. “If you go in the market and are an informed and wise consumer, you can find a good value,” Torpy said.

Most resort areas in Vermont have experienced a slowing of sales but the prices and the equity that people have in their houses remains stable. Properties over a million have been less affected because this buyer usually pays cash , or finances less than 50%. The slowest real estate sales areas are between $500,000 and $1,000,000. I beleive this is because that buyer would have used the equity from their primary home for a downpayment on their vacation home. Now they are reluctant to do so.

Stowe’s homeowners, in most cases, are not pressed to sell. They may desire to sell for a variety of reasons, such as down-sizing, retiring, lack of use, but it is not a necessity. If they are anxious to get income from the home, they can get very good rentals while they wait for a buyer. So the short answer to:” I want a deal ,” is “there are no deals.” But there is opportunity.

Sellers know that the real estate news is doom and gloom. Even when all the statistics will tell you that resort real estate has remained stable, or has continued to climb in price, Stowe and other resorts get lumped in with the doomsdayers and naysayers. Because there has been a slow down country wide, there are people who want to sell and will listen to reasonable offers. This is where opportunity knocks.

One of the perks that our Sellers are offering to entice Buyers is a home warranty program to our Sellers. Through Coldwell Banker they are able to put a home warranty on their house to insure against appliances, furnaces, electrical, and plumbing failures. This is a free warranty program for 18 months with no cost to the Seller until their house is sold. At the closing the home warranty is paid for by the Seller and it is transferred to the Buyer. It is good for one year. I have found that homes with a home warranty program attract buyers.

In a study done recently by Coldwell Banker Carlson Real Estate, most houses today are sold within 5% of the asking price. Several years ago, homes and land were selling at asking price, or just slightly above. In rare cases there is a 10% drop. In the $1,000,000 to $1,500,000 price range you get the best dollar value for your home. Most of these homes are selling at below replacement costs when you take in the today’s square footage prices and the current cost of land. Below I have linked to several properties where you can apply this formula.

Click here for Peggy’s Picks for Stowe Real Estate Opportunities:

http://www.vreinmls.com/ver/maildoc/a007Hh7611.html

We are still an independently owned office with all of the advantages that Coldwell Banker has to offer. It is the leading nation real estate franchise and is recognized as “the name” in real estate. There are many advantages for our clients and customers. In this day of technology it is difficult for the small agency to compete. It is important for us to offer to our clients the latest in technology and to get national and international exposure for our listings. The referral system is a global network which is available through Coldwellbanker.com.

One of the main features that is important to us is the Previews program. Previews offers marketing for the luxury properties and reaches a global audience. Coldwell Banker participated in over 50% of all luxury sales in the United States. As a certified Preview agent I am able to have access to the top luxury buyers and am able to get more exposure for my clients.

Other programs that are offered through Coldwell Banker are the Home Protection plan. This is an insurance policy that a Seller can take out on their home to cover appliances, and systems that may break in the period of the year that the house on the market. This policy can be passed on to the Buyer. Another feature of this plan is that the payment for it is not due until the closing on the house. This protection costs approximately $500.

Coldwell Banker offers a Sale Ready Home Program. We have a checklist that will make a Seller’s home ready for sale. This includes a home inspection, title search, staging the home, checking that permits are in order and current. Once the home complies with the Home Ready Program we can advertise it as a “Home Ready” property. This is an advantage to a Seller as it will make a very smooth closing process and will give the Seller an edge with buyers.

Another feature is “Lead Router”. Simply, this is a system of contacting an agent within 3 minutes after a lead comes into our web. You will be secure in knowing that if an inquiry comes in on your property there will be an agent responding to that inquiry within 3 minutes. Ninety-five percent of all potential customers have their first contact with the Internet. Lead Router is one of the best ways to make sure that these leads are not lost.

There are many advertising campaigns that Coldwell Banker runs nationally and we are able to take advantage of these through special mailings, epostcard, enewsletters and radio/tv advertising. This could never be possible as a small independent agency.

We feel that our clients and customers deserve the most up to date and best service that we can provide. After many months of research we found that of all of all the franchise companies available, Coldwell Banker offered the most comprehensive services and has the largest consumer brand recognition. What does this mean to you if you list with us? Since it is the most recognized brand. more traffic will be brought to our office and this gives you much more exposure, giving you the ability to sell your house sooner. In today’s market this is a huge asset to you.

Please stop by my office, respond to my blog, or email me at peggysmighsq@aol.com . You can also check out my website at: Peggysmithvt.com and you might be a lucky winner of one of our new Coldwell Banker products. This could even be a vacation at one of the RCI resorts offered to us through Coldwell Banker or a gift certificate at Tiffany’s. You never know what might be in my basket of goodies.

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

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