Tag: vermont real estate

Is the Highest Price Offer the Best Offer?

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How difficult is it to decide on an offer on your property? It all seems so simple. You put your house on the market with your trusted real estate professional. Buyer’s Agents show you property and then submit offers. Now what? Let’s look at three considerations when assessing an offer:

1. Price

2. Terms

3. Conditions

Price: Sometimes the highest price offer may not yield the best terms and conditions. For example, you receive an offer that is “over” your list price, but the buyer has a house to sell that is in a remote part of Minnesota where it is always a buyer’s market. Of course, you would want to explore the particulars of the house sale situation but, for now, this has a contingency that may not be satisfied for a long while. While the highest price is tempting it may cost you in time and frustration waiting for the buyer’s house to sell.

Terms: In another case, the price may be right, but the terms of the offer may not be reasonable. For example, one term of the offer may be that the buyer’s financing is contingent upon a mortgage loan at an interest rate that is no longer available. It’s important to verify that the lender letter and the contract reflect the current interest rate. The buyer’s financing letter may not be updated, and, with the current interest rate, the buyer may not actually qualify for the purchase. It’s important to make sure that the buyer’s lender letter is updated before accepting an offer.

Conditions: Lastly, some of the offer conditions may not be able to be satisfied per the contract. For example, if a buyer requests that a roof be replaced, or a buried oil tank removed prior to closing and if it’s the middle of winter, then this condition may not be realistic. Evaluate the buyer’s conditions and make sure that you can meet their request.

In summary, each offer is unique. It’s important to have an experienced professional real estate agent to help you navigate offers so you can choose the buyer who best fits with your goals. If you’ve been thinking about selling, get in touch and we can discuss next steps and what to expect from the selling process.

Anxiety and Selling Your Home

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How stressful is selling your home? There are many reasons why selling your home is overwhelming. As a Realtor in Vermont I was overwhelmed with selling a family house out-of-state. The lack of familiarity with the process, the pricing, and the current buyer preferences in the area were all a mystery to me. After choosing a top agent who is a local expert in the area I realized that her job was to alleviate my stress and anxiety and guide me through the process. Let’s explore the major issues that cause anxiety and how we can help alleviate some of your fear and worries.

Here are the top 3 questions that we answer:

1. What do I have to do to my house to get it on the market? It depends. We need to visit your house to see what projects, repairs, updates, etc. would benefit you most with today’s buyers. It’s a good idea to have a budget set aside for these items and we will prioritize your “to do” list.

2. Will I be able to move by a date of my choosing? Most likely, yes. We are experts at getting you out and moving to your next destination in the time frame that works for you. Let us know your plans and we will work with your schedule.

3. How do showings work? With us, we schedule the showings with your lifestyle in mind. If you need to work at home certain days we will schedule around your meetings and work schedule. To minimize the stress of having your house “show ready” all the time we make sure you have enough time to prepare for buyers.

These are just some of the questions that we answer early in the process of selling your home. Make sure you choose a Realtor that has experience to lead you through the entire process, from prepping your house for sale to guiding you through the inspection and closing. If you are thinking about selling, contact us to get started!

3 Tips for Snowy Showings

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pexels-jill-wellington-1638660-259583Neither snow, rain, or sleet will keep us from helping you buy a house in the upcoming snowy, cold months in Vermont.

If you are looking to buy in Vermont during our snowy months of January, February, or March we want you to be “winter ready.” From weather alerts to slippery walkways and snow covered boots, we have tips and tricks to make your snow days easier.

1. Watch the weather: Sign up for VT Alerts. While we can dodge rain, snow, and sleet we can’t outrun a snow squall. The snow squall warnings are no joke – these are the most accurate of the predictions. If there is a squall we are not going out!

2. Bring indoor shoes. You will need to leave your snow boots at the door so you don’t track snow through the house. To protect your feet from frosty floors bring some indoor shoes to keep your feet warm. You will need shoes to check out the basement because if you are only wearing socks, the chill from the concrete floor will stay with you all day. We can’t guarantee that the walkways or driveways will be cleared and salted for your visit so be sure to wear boots or shoes with non-slip soles.

3. Schedule your showings during the day. As soon as the sun goes down, the walkways and steps may freeze up making them slippery and dangerous. Also you will want to see the property in the daylight to really decide if the house is a good fit for you.

If you are looking to buy in 2025, contact us to start your home search and begin the process to get qualified.

Goodbye to Pop-Tart Agents

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cff86c842404d182d2920a489434cd3acaa80df3First, who doesn’t love a warm Frosted Brown Sugar Cinnamon Pop-Tart? Alas, I digress. Back to the topic at hand, what is a Pop-Tart agent? Whenever there is a hot seller’s market, as it has been the last few years in Vermont, buyers are eager to run out and see property. This means that a buyer would call an agent, and the agent would pop up at the front door to let the buyer into the house, thus the practice of “popping up” to show a house morphed into a “Pop-Tart” showing as Pop-Tarts, well, you know, pop out of the toaster when ready.

Today, the Pop-Tart or pop-up scenario is a bit more complicated. Due to a proposed lawsuit settlement with the National Association of Realtors (NAR), real estate agents must have a signed Buyer Representation Agreement before touring properties. This ensures transparency as to how buyer’s agents are paid and your choices as a consumer. You can opt “not” to hire a buyer’s agent to represent you in a purchase and that involves dealing with the seller’s agent, who is not looking out for your best interest in the deal.

Why do you need a buyer’s agent? Basically, a buyer’s agent is your key to your success in the buying process. A good buyer’s agent provides access, advice, and expert negotiation to help you reach your goal – buying a home.

For a more detailed explanation reach out – we’re always happy to hear from you and want to make sure you have the best home buying or selling experience possible.

4 Location and Lifestyle Tips to Help You Choose Your New Home

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DJI_0738 copyNothing gets us more excited than finding the “almost perfect” house for our clients and then pointing out the highlights of their location. If you are a hiker, we like to find the closest trails. Do you love a good boat day? You’ll want a place on or near the lake. Raising a few kiddos? We keep our eyes open for the closest place to pick up milk and diapers. Not crazy about cooking? Neither are we, so we know all the places with the best food. Pizza? Hamburgers? Mac and Cheese? We’ve got you covered. Here are our favorite “tips” for choosing a spot, based on your lifestyle:

PLAY – What do you like to do after work and on the weekends? If you have last minute guests then it’s helpful to live within 10 minutes of a convenience store to pick up chips, dip, and drinks on short notice. If winter sports are your passion, you’ll want to have easy access to the mountain. If you like to walk, bike, or hike then picture yourself close to your recreation spots.

EAT – How often do you go to the grocery store? If you like to do a “big shop” that lasts a week then 20 minutes from the store should be fine. If you find yourself running out of food, ingredients, or you simply just like to get your steps in roaming the grocery store aisles, then 10 minutes should be your goal. Don’t cook? Make sure that the food delivery services go to your area. Restaurants, coffee shops? How far do you want to drive for Burger Night or your morning cold brew?

DRIVE – Always running out of gas? Whether it’s you, your spouse, or a new teenage driver, if you find your gas gauges running on empty it’s best to live near a gas station. If your lawnmower and other small engine tools require 0% ethanol, you’ll want to make sure you know where to go for that type of gas.

SHOP – Who doesn’t love retail therapy? This can be a bit further away if shopping is a special occasion. If you find yourself picking up birthday presents often then 15 minutes should be good. But if your shopping is mostly at home improvement stores then we recommend 15 minutes maximum as you will inevitably need a different size of something.

Sounds basic, but “location” is the number one factor that predicts happiness in your new home, according to our independent research. Contact us to find the ideal location for your Home Sweet Vermont.

Why You Should Never “Enter Your Address and Find Your Home Value”

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home search-polina-zimmermanWhy do some houses sell for less than their Zillow estimate? Do you think your house will sell for more than the online estimates? In our area, many of you, whether selling or buying, are a bit vexed when they search online. This may lead you to “Enter Your Address and Find Your Home Value,” which just triggers many, many phone calls from real estate agents.

Here’s how it works:

1. You enter you address and email, sometimes phone number is optional.

2. Your personal information is then sent to dozens of local real estate agents.

3. You will receive multiple calls, text messages, and emails.

Your private information, including your street address, and your intent to sell is telegraphed to random real estate agents who will do anything, including drive to your house, for your business.

Why risk your privacy just to obtain a value on your house? We know that pricing a house is both an art and a science. The online estimates on Zillow, Redfin, Realtor.com, etc. are based on complex algorithms that mainly assess on square footage and do not “sort” for types of properties such as condominiums or single family homes, for example.

What should you do if you can’t trust the internet? Stay calm and contact us! Consult with Carolyn and she will prepare a personalized home value estimate based on similar recently sold properties, similar under contract properties, and similar properties for sale. If you prefer to start online, you can fill out OUR form for your free home valuation – this information is ONLY sent to Carolyn, no other agents.

The Real House Hunters of Chittenden County

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Essex Jct - Juniper Ridge RdWe would love to write the script for a show, “The Real House Hunters of Chittenden County.” This reality show could follow a group of buyers in their search for the perfect house. Alas, no one has called us (yet) to work on a pilot, so we’ll just regale you with a few house hunting tips to save you some drama.

Episode I – Heartbreak on Hilltop Drive

Joey Jones thought he was approved for a $450,000.00 loan … after we found the perfect house on Hilltop Drive he found out that he was only qualified for a $250,000.00 loan. It was heartbreaking to see Joey burst into tears.

Real LifeTip: Make sure you are pre-approved with a mortgage lender. This sounds so basic but if you don’t take this step it will lead to unnecessary stress once you start the house hunting process. We have met with buyers who are certain that they are qualified for a certain mortgage amount and start the house hunting process with an unrealistic price point.

Episode II – Snooze and Lose on Sleepy Hollow Way

Tiffany Thomas thought she had time to think about putting in an offer on her “almost” perfect dream house on Sleepy Hollow Way. She dismissed her alarm by mistake when she should have set it to snooze. Once she emerged from her long winter’s nap she called her Realtor to put in an offer. Alas, the house just went under contract with another buyer, apparently an early riser. Tiffany spends the next week in bed mourning the loss.

Real Life Tip: Don’t hesitate to put in an offer if you think you found the “almost” perfect house. While the market may seem slow-moving and sleepy to you, there are other buyers who are searching for a similar property.

Episode III – Too much to Fix on First Street

Martin McFly thought that the photos of house on First Street fit most of his “wish list.” Once inside the house, though, he couldn’t believe how much worse the house looked in “real life.” The paint, the appliances, and the flooring all needed to be addressed to suit his particular aesthetic. Six months later he still cannot find a location or floor plan that fits his needs. He can’t move forward with his search and spends his days pricing out appliances and flooring just in case he ever finds a comparable property to First Street that may need some updating.

Real Life Tip: No house will ever fit your wish list 100%. It is good to know the cost of any updates or changes that you may want to make to a property before you dismiss it as a “fixer-upper” or needing too much “work.” We have seen some beautiful transformations on many different budgets.

If you’re frustrated in your own house hunt, get in touch to see how we can help you find your Home Sweet Vermont!

Pops of Pink: Painting Outside of Your Comfort Zone

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pink living roomHave you ever heard of a color consultant? Betsey Dempsey, Color Concepts Vermont, helps clients pick out colors for their spaces. Her role is different than an Interior Designer. One way to bring new life to your house is to change the paint colors in your rooms. Paint color trends change every few years, so if you want your house to look fresh and updated a color consultation may help transform your space.

She specializes in helping people choose paint colors. “I try to get them to think beyond their comfort zone,” she says. After all, that is why they are hiring her to show them more options other than the usual “safe” colors.

Eggshell or Matte? The type of paint matters, matte finish is washable and can be blended more easily than eggshell for touch-ups. The sheen of eggshell fades over time and it is harder to touch-up.

What is trending now for paint colors? For the past few years gray tones have dominated the color palette of interiors. According to Betsey, “the cold gray tones are now being modified with more warmth, think taupe.” She is also seeing more contrast with painted trim and complimentary wall colors. “Trim does not need to be white, we are seeing dark charcoal or medium gray trim and door colors that pair nicely with off-white walls.” It’s important to use warm and cool colors together to balance room tones.

What about pink? Surprisingly, pink is one of Betsey’s favorite colors and it is becoming very popular. She likes Benjamin Moore’s “Opal” color with soft warm pink tones in any room, even ceilings which can bring out the warmth of a room.

If you are looking for recommendations for painting your space or a color consultant, check out Betsey Dempsey’s website – colorconceptsvt.com.

Photo by: Simone Haag in Collaboration with Nathan + Jac; Photo by Eve Wilson

Is My Vermont House at Risk of Flooding?

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Vermont FloodingIn the wake of the historic flooding that resulted in Vermont being declared a Federal Disaster Area many homeowners and buyers have been asking, “Is my house at risk of flooding?” There is no definitive answer to this question, however we have some resources available to help assess risk levels. Remember, though, water takes its own “path” and what may “not” be in a flood zone or high risk area right now could turn into one very quickly depending on the circumstances.

Houses may or may not require flood insurance. If you are financing your property with a mortgage lender then they have resources for you. Some lenders will require a flood insurance binder as a requirement of the loan. If you are purchasing with cash then flood insurance is not required as a condition of the sale, however, you should assess your risk and talk to your insurance agent.

The State of Vermont provides information on designated flood hazards and river corridors — http://dec.vermont.gov and https://floodready.vermont.gov/assessment/vt_floodready_atlas.

FEMA also provides resources: https://msc.fema.gov/portal/home to do more research on your area.

Bottom line, if you are looking at a house and the street name is River Rd., Winooski St. (named after the Winooski River), Canal St., Streamside Dr., etc. then you should check out the resources above. Or, reach out directly and we will share our local knowledge regarding the historical data regarding natural disaster risk in your area.

If you want any further information or a detailed evaluation on any property in Vermont contact us to get started!

Taylor Swift Nailed It: Cruel Summer for Buyers and Sellers

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Essex Junction VTIt’s turning into a cruel summer for many buyers and sellers. Sellers and buyers are increasingly afraid that their house sale or purchase may be their next mistake.

Recently, our local Vermont real estate market has experienced some situations with pricing and buyer response that we are finding unusual. Most of my colleagues are referring to the current state of the market as “weird,” and we, also, are finding it a bit quirky. What does that mean?

In analyzing market pricing and buyer response we have concluded that shifting seller and buyer psychology has impacted some properties in certain price points and locations. Here are our 3 observations:

Bidding wars generated by multiple offers and rising interest rates are causing buyers to pause in their search. Due to our continued low inventory of available homes buyers are getting frustrated with the competition. In some cases we are seeing buyers bid $60,000.00 or higher than list price in the race to secure a residence and still “not” winning the bidding war. As a result, buyer behavior is shifting from impulsive and excitable to cautious and reserved.

Sellers are conflicted when choosing a pricing strategy. Should they price it at the suggested market analysis value? Should they price it where they want to “sell it?” Will they receive multiple offers? This conflict results in additional seller angst, “Will we have to reduce the price if we don’t receive an offer quickly?”

Buyers and sellers continue to be awed by the sale prices of properties. Some are selling “at” their listing price, others are way “over” the listing price, and in a few cases some “under” the listing price.

The predictive aspects of pricing in relation to buyer and seller behavior continue to be challenging. There is no playbook for our current real estate market.

For sellers, one of the most important aspects of selling your home is to find the “sweet spot” for pricing your house. We encourage our clients to think about a range of value while considering the potential for the highest price for their property. As far as predicting buyer behavior, we are happy to share our latest insights with you.

Whether you are thinking about selling or buying, it is always best to have a professional in your corner to guide you through this ever-changing market. Contact us today to see how we can help you achieve your real estate goals!