Archive for July, 2008

It’s always interesting to get peoples reaction and impression of Vermont. Whether their image of Vermont was formed by a visit here or by way of media input, everyone has an impression of Vermont that includes rich green rolling hills, mountains and fields, blue skies with white fluffy clouds and our iconic farmsteads. A quick glance through Vermont Life Magazine or spending time on the Internet tends to produce the same bucolic image of our wonderful state. And its really true, Vermont is a state of uncommonly beautiful vistas and scenery. However, to those who only visit a specific area of Vermont and to those especially surfing the web, you are not really getting the total picture of our state. Vermont has tremendous diversity in terms of geographic terrain, climate and culture. The Champlain Valley on the Western side of the state is influenced climatically by Lake Champlain. The largest concentration of farms is located in the Champlain Valley. The Northest Kingdom is made up almost entirely of small Villages and Hamlets that are scattered throughout the rolling hills. The vegetation and forests of the southern regions of the State are made up of species that are not readily found in the rest of Vermont. Just as diverse and different are real estate values. All too often we hear stories from people who have bought the ideal Vermont property, an old farmstead of 100 acres at the end of a town road with traditional farmhouse and outbuildings for a very low price only to discover that the closest restaurant of quality is an hour away or a decent bottle of wine can only be bought 35 miles away.

We all come to Vermont with images and expectations of what we want our Vermont experience to be. But use caution, Vermont is so beautiful and alluring in all regions. It is wise to spend some time traveling to different areas of the state. Check out what activities and recreation are most appealing to you. What types of cultural events are important to you. Vermont is so diverse, there is a community and town to suit most every interest and taste. Just make sure the one you choose is the one for you. Helping you make the right choice is within the scope of services of a well rounded state wide real estate broker.

Posted by Wade I. Treadway

It seems in this real estate market that buyers are hypersensitive to what they can gleen of signals from brokers and sellers. If the grass needs mowing or a fence rail is down seems to send a message to buyers that the property owners are in trouble and its time to strike. Given all the hype and misdirection the media is giving the real estate market, it’s to be expected. However, the most brazen sign of a troubled seller  to a buyer in the lowering of the price. That is a sure sign that the owner is desperate and needs out. Without question if a property has had a price reduction and a serious buyer looks at it, the interpretation is that it can keep going south in price. If the property is being represented by a responsible broker, nothing could be further from the truth. A conscientious broker always helps the seller establish a listing price on a property. Current information as to what has sold and what is currently available and its listing history are the most important tools for a broker, aside from sound experience. The key word here is current. If real estate was traded strictly as another commodity, it would have price fluctuations daily just like all other commodities. But of course it not, but an astute broker needs to stay closely in tune with market conditions and react to market conditions by way of informing the sellers of price changes. If a property is still on the market after 6 months, chances are very good that conditions have changed to where an adjustment in asking price might be appropriate. In the case of accurate and sound advice from a broker, a reduction is listing price really signals that the broker is doing their job and a new price is more in line with todays market. It has nothing to do with the financial stability or instability of the seller. As the real estate markets are changing so rapidly, it is entirely possible that regular price changes become the norm. The message to buyers is, do your homework and don’t rush to judgements that might make you look foolish.

Posted by Wade I. Treadway

Buyers and sellers in todays real estate market are getting inundated with vast quantities of market data that  make even the savviest clients perplexed at best as to what to do in todays marketplace. All it takes is the morning and evening news, a newspaper and a couple of magazines thrown in to draw into question, “what is going on?”  Here in Vermont the marketplace for real estate is varied depending on the area and seems to fluctuate wildly day to day in terms of response to advertising. But one thing is certain, all real estate brokers are working overtime to keep up with the changes. To that end, we have seen many price changes, restructuring of offerings and most importantly realistic pricing of new listings. If a broker is astute and careful, new listings will be priced to reflect current market conditions. With that said, here comes the information overloaded buyer thinking that based on everything that they have heard, that all listings can be severely discounted.  Does a weak real estate market mean that a newly listed property with a proper listing price must be heavily discounted to keep a buyer on track? Of course not, what it means is that a broker must do their utmost to ascertain the mindset of the buyer. They must educate the buyer as to what the market conditions are locally and how the property they are interested in fits the current value trends. There are definitely many buyers looking for bargains, and conditions are right for them to get a bargain. However, they must express that to their broker so the broker can focus on those listings that fit into the bargain catagory. Its a total waste of everybodys time and an insult to the sellers for a buyer to make a low offer just because USA Today says thats the way to do it. More often than not, a seller will be so put off by a low offer that further negotiating will prove quite difficult and end up costing the buyer more in the long run. 

Posted by Wade I. Treadway

Unquestionably the major reason people relocate to Vermont is the quality of life. So much is known, written and romanticized about the quality of life here, I will not digress. Many reasons exist as to why the quality of life is so apparent, not the least of which is the relative low population of Vermont. As larger metropolitan areas such as Burlington are growing in population, the more rural areas are actually declining in population. However, demographics aside, the very element that makes Vermont so attractive to visitors and residents is not so attractive to large national and international businesses that supply our basic needs. Vermont has always had a very hard time attracting and keeping health insurers. The fundamental reason is simple, we are not big enough of a marketplace to make operations profitable. And this prevailing corporate attitude extends to all areas of our daily lives.

One of the greatest boons of recent years to the development of Vermont has been the internet. Many people who have bought homes with the hope of retiring here are finding that they can make their permanent move now and continue to work by way of the internet. The diversity of businesses that are conducted out of Vermont homes is staggering.  And what a great economic boost, no impact and the ability to conduct business here. Just as the internet helped to spurn this new growth, it has been proved difficult for internet providers to keep up with the daily changes to internet business. At first we were elated to have dialup, finally we were connected. But it didn’t take long before dailup was inadequate much too slow for most of what people typically need for communications. So, we rent a space in town and drive in the have a DLS connection. A little deflating for the bucolic scene of sitting on the porch with a laptop conducting trades. Yet, a week doesn’t go by that we don’t get a flyer in the mail from Comcast, Verizon among others offering us great broadband access along with bundled phone service and television. A quick phone call confirms what we already knew, “you don’t have service available in your area”. Enter the Vermont State legislature. In a very forward thinking move, they passed an initiative for all of Vermont to have broadband connection. Simply put, they streamlined the regulatory hurdles usually associated with such projects. This has enabled Vermonters to take on the business of developing, installing and managing broadband service on their own. and if we are going to do such a thing, lets replace the existing infrastructure with the very latest, very best, a Fiber-Optic network. What is in essence a grassroots effort, Vermonters are in the process of forming their own community owned, subscriber funded state of the art network. Currently, Burlington, VT is fully connected through Burlington Telecom. East Central Vermont Community Fiber Network , is well on its way to connecting 22 towns and communities in central Vermont. I strongly recommend that you visit their website. It certainly demonstrates the resolve of Vermonters to get the job done on our own. This is not only the way of the future for Vermont in terms of telecommunications but the premise could very well set the stage for other independent projects to benefit Vermonters without needing reluctant out of state corporations.

Posted by Wade I. Treadway