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2017 Home Buyer and Home Seller Trends

Home Seller TrendsHome For Sale Sign

Real estate agents help sellers market and price their home competitively, and lower the amount of time their home is on the market. According to an annual survey from the National Association of Realtors (NAR), trends for home sellers this year indicate:

  • Home sellers who used a real estate agent remained historically high at 89%.
  • For Sale By Owner (FSBO) home sales were at 8%, which has been the lowest recorded level for three years.
  • The average tenure for a homeowner is 10 years. In the past, homeowners remained in their homes around six to seven years.
  • FSBO homes generally sold for much less than homes sold by a real estate agent. FSBO homes sold at a median of $190,000 and the median for homes sold by an agent was $250,000.

Keys to HomeHome Buyer Trends

Real estate agents help buyers find the right home and negotiate prices and terms of sale. Here are some buyer characteristics from the NAR survey:

  • Home buyers who used a real estate agent remained historically high at 87%.
  • Buyers who purchased directly from a builder or previous owner declined.
  • Thirty-four percent of buyers were first-time home buyers. The historical average is 40%.
  • Buyers generally purchased more expensive homes due to increased housing market prices.
  • Eighty-five percent of buyers purchased previously owned homes.
  • A buyer typically searched for a home for about 10 weeks.
  • The most difficult aspect of the home buying process was finding the right home.

Whether you’re looking to buy or sell a home in Central Vermont, Heney Realtors can help. Contact us today!

 

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    2017 Holiday Events in Central Vermont

    The holidays are just around the corner, so it’s a great time to start making plans to attend some of the festivities in the Central Vermont area! Here are a few of the special holiday events happening this year.


    A River of Light in Waterbury
    December 2, 2017
    Waterbury

    This is the 8th annual lantern parade and it has continued to grow over the years. This year, the theme is “Ripples and Rhythms: Waves of Sound and Light". Make a lantern and march in the parade, or just enjoy watching this festive procession of professional artists and school children and an evening of music and community spirit. Click here for more information.


    Touch of Vermont Holiday Gift Market
    December 16, 2017
    Montpelier

    The 13th annual gift market is a great place to buy holiday gifts and crafts from over 45 Vermont artisans, support your community, and help raise money with a raffle benefiting the Good Beginnings of Central Vermont. Every vendor has donated a Vermont crafted item. The event is fully accessible and admission is free to all. Click here for more details.


    2017 Christmas Concert
    December 16-17, 2017
    Montpelier

    The Onion River Chorus performs 16th, 17th, and 18th-century music from Mexico and Bolivia that speaks a language that we can all move to. For more information, click here.


     

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      Experience Fall in Vermont's Capital City

      Fall is a great time of year to enjoy the outdoors in Montpelier and admire the beautiful red, orange, and yellow autumn foliage. Here are some different ways to make the most of the season in the capital city.

      Fall in Montpelier VTThe Enchanted Forest is a family-friendly celebration of autumn held in Hubbard Park. The 50-foot observation tower is lit up by fire and people enjoy hay wagon rides, storytelling, music, and more. This year, the event is being held on Saturday, October 14.

      Hike the miles of trails at Camel’s Hump and enjoy the spectacular mountain views and beautiful fall colors. On the Huntington side, the Burrows Trail is a popular shorter hike. On the Duxbury side, the Monroe Trail has an accessible loop with three locations to view the summit.

      Hubbard Park has miles of maintained trails, which are perfect for dog walkers and runners. There is an observation tower at the highest point in the park where you’ll find amazing views of the capital city and Camel’s Hump. The park also has a couple of pavilions with grills, water fountains, and picnic tables.

      The North Branch Nature Center has walking trails along the Winooski River and places to just sit back and enjoy the sights and sounds of nature. In the fall, the Center offers outdoor playgroups for parents and children, after-school programs, and other activities.

       

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        10 Ways to Upgrade Your Home with Your Tax Refund

        It’s that time of year again — the weather is getting warmer, flowers are starting to bloom, and taxes are being returned. With a little extra cash in your pocket, there are endless possibilities of what you can do with it. Why not spend some of it on updating your space? Below you will find 10 ways to update your home with your check from Uncle Sam. 

        Recaulk / Paint
        A fresh coat of paint can brighten a whole space. Even just painting baseboards (which get dirty and are often forgotten about) will make a world of difference. 

        Buy a Fabulous Rugopen living room with rug
        Rugs are a great way to tie a space together. As a general rule, the outer edges of the rug should be around 6 inches from the wall in a small room and 18 inches from the wall in larger areas. In an open-concept floor plan, area rugs are a great way to frame seating and dining areas, which will help to define the different uses of the space. 

        Upgrade Your Water Heater
        Not the most exciting purchase in the world, but buying a new water heater can save you money down the road. New models are energy efficient. 

        Upgrade Your Ceiling
        It may be time to actually / finally get rid of the popcorn ceilings in your home. Save yourself some time and a backache and hire a professional to do it. Installing crown molding or box beams can go a long way to creating a fresh look that's visually interesting. 

        Upgrade Your Lighting
        Updating an outdated lighting fixture with a new one can change the entire vibe of a space. If nothing else, you should upgrade your bulbs to LEDS — which are really affordable now, will save you energy and come in a wide variety of colors and wattages. 

        kitchenUpgrade Your Flooring
        Expect to pay between $7 and $12 per square feet for quality wood flooring, more if you have it professionally installed. Hardwood floors, which are super popular among homebuyers, can return 1.5 - 2 times its cost when you sell. 

        Add a Backsplash
        Whether it's peel and stick, or hand-painted glass times, kitchen updates have some of the highest returns on investment. Have natural woods and neutral walls? Opt for a bold pattern!

        Add Curb Appeal
        Why not update your mailbox, get new house numbers, or repaint your front door. Feeling motivated? Repaint the trim around your windows. 

        outdoor patioBuild a Deck
        Homebuyers love decks, and they really aren't that expensive these days (keep in mind price will vary based on materials and size). They typically bring in an 80% - 120% return on your investment. â€‹

        Upgrade Your Outdoor Space
        As warmer weather approaches it's a great time to really make an oasis in your backyard. Think comfy seating, a fire pit, a new grill, water features — the possibilities are truly endless. 

        8 Fun Winter Activities to do in VT That Aren't Skiing

        Vermont is certainly known as a skier and rider’s paradise during the winter months, but that doesn’t mean there isn’t more to enjoy in Vermont from November to March! Below you will find 8 fun things to try in Vermont this winter — that don’t have anything to do with skiing or snowboarding. 

        Sledding

        Two Teen Girls SleddingSledding isn’t just for kids these days! There are several sled makers in Vermont that make adult size steerable sleds. Check out Granville Gulf, between Warren and Granville. Locals recommend exploring this winding stretch of Route 100 just south of Warren. Helmets are advised. Lincoln Gap in Warren is also a popular spot. Lincoln Gap is recommended for experienced sledders. After a 30 minute hike to the top, prepare for an exhilarating 2 mile ride back down! Again, helmets are advised. There are also plenty of public sledding hills that more suitable for younger children. 

        Snowmobiling

        The state of Vermont is home to over 4,700 miles of snowmobile trails. All of which have been maintained and groomed by the Vermont Association of Snow Travelers for nearly 50 years. Most VAST trails run on private land, and are only open during the winter, giving you a truly unique perspective of Vermont. Don’t own your own snowmobile? Head to Stowe and take a tour. Snowmobile Vermont offers a two hour, 25-mile backcountry tour through Mount Mansfield State Forest. They also provide boots and helmets for the ride. 

        Hit the Spa

        Looking to warm up and forget that it’s five below outside? Why not sit inside and be pampered all day. Vermont has dozens of inn and resorts that feature full-service spas

        Ice FishingIce Fishing Huts on the Lake

        Find out for yourself why Vermonters love ice fishing. Check out the Free Ice Fishing Day Festival the last Saturday of January! Free Ice Fishing Day is an opportunity for anyone to go ice fishing without a permit (resident or non-resident). Registration opens at 11 am at Hoyts Landing in Springfield, VT. Fish and Wildlife staff and Let’s Go Fishing volunteers will have ice fishing equipment available for those who don’t have their own. Staff and volunteers will also be available to help the inexperienced learn ice fishing basics. 

        Dog Sledding Tours

        Dog sledding isn’t just for Alaskans! January and February are ideal months to enjoy dog sledding. Vermont is home to many dog sledding teams, several of which offer tours. Not only can you take a tour through the mountains, several tours include an educational piece that will teach you mushing basics. 

        Track a Moose

        Take a hike through one of the many state forests, or sign up to take a guided track with an expert! Join field naturalist Sophie Mazowita the last Sunday in January for a full-day of wildlife tracking in Huntington, VT. The adventure begins with an indoor presentation. 

        See Where it’s MadeBrewery Equipment

        From maple syrup to teddy bears, there are lots of great things made in Vermont. Take a behind the scenes look at some of Vermont’s largest companies. Take a brew tour at one of the many breweries all over Vermont, why not see how some of the most notable brands brew their beers?! You should note that not all breweries offer tours, so it’s a good idea to check ahead of arriving. There are also several companies in the state that offer organized tours. Or check out a sugarhouse in late winter to see how maple syrup gets made! Or how about checking out the Ben & Jerry’s Factory? From furniture to cheese, there's a tour for everyone in the family. 

        See a Play, Musical, Stand-up Event and More

        Vermont has always had a strong arts community. Check out the Lost Nation Theater in Montpelier to see community theater at it’s finest. Positive Pie in Montpelier serves up live music weekly. There is always something going on at Higher Ground in Burlington and the Rusty Nail in Stowe. Check out the Vermont Calendar of Events for more information about what’s currently happening throughout the state.

         

        Gorgeous 4 Bedroom Home For Sale in Roxbury Vermont

        Craftsman Character in the Heart of Vermont

        1970 Winch Hill Road
        Roxbury, Vermont 05669

         

        1970 Winch Hill Road - exterior 1970 Winch Hill Road - cathedral ceiling1970 Winch Hill Road - exposed beams1970 Winch Hill Road - Upclose exterior

        This gorgeous 4 bedroom, 4 bathroom home features a "bow" roof design and many traditional elements. Enjoy 24 private acres as well as  sweeping views of the mountains in the distance. The open floor plan lends itself to entertaining, as does the large back deck and yard. Cathedral ceilings, exposed beams, two fireplaces, built-ins, a hot tub, a one bay attached garage, a two bay detached garage with storage space, natural woodwork, and skylights give this home stunning character. This home is a gorgeous example of Vermont's craftsmanship, from its large front door featuring bullseye glass to its original doors throughout the home. You really must see this home yourself to truly appreciate the unique beauty. View the full listing hereContact Tim Heney to schedule a showing today! 

        1970 Winch Hill Road - built in1970 Winch Hill Road - back deck1970 Winch Hill Road - back exterior 1970 Winch Hill Road - pasture view

        The Numbers are in! Check Out What Real Estate Looked Like in 2014.

        2014 END OF YEAR REPORT

        2014 was a year of growth and improvement for real estate throughout Washington County. The key indicators that we looked at are the number of sales of single family residences, average sale price, and number of days a property was on the market.

        The number of transactions increased in nearly every major community as compared with the number of sales in 2013. 2014 posted the highest number of sales for any year in the last five years.

         

                                                                                  2014 SNAP SHOT

         

        TOWN

        # OF SALES

        AVG SALE $

        AVG DOM

        HIGHEST $ SALE

        Barre City

        92

        $126,575

        136

        $265,000

        Barre Town

        104

        $164,688

        88

        $445,000

        Montpelier

        86

        $243,864

        97

        $530,000

        U-32

        85

        $222,724

        125

        $692,000

        Northfield

        62

        $151,812

        137

        $415,000

        Williamstown

        30

        $132,579

        107

        $253,000

        AVERAGES

        76

        $173,704

        115

        na

         

        NUMBER OF SALES BY TOWN

        The number of sales increased in almost every major community as compared with the number of sales in 2013 and most posted the highest number of sales for any year in the last five years.

         

        NUMBER OF SALES BY TOWN

        TOWN

        2010

        2011

        2012

        2013

        2014

        Barre City

        64

        41

        55

        76

        92

        Barre Town

        55

        51

        71

        102

        104

        Montpelier

        57

        58

        61

        75

        86

        U-32

        58

        58

        51

        96

        85

        Northfield

        18

        22

        26

        48

        62

        Williamstown

         

         

         

         

        30

         

         

         

         

         

         

        TOTALS:

        252

        230

        264

        397

        459

         

         

        AVERAGE SALE PRICE BY TOWN

        Average sale price is perhaps the most talked about unit of comparison. All of the communities in Washington and Orange County are "small" towns. In any given year several exceedingly low foreclosure or distress sales can adversely influence the average significantly. Conversely a few very high sales can pull the average up. In 2014 interest rates remained deliciously low and fuel prices declined dramatically at the end of the year. Both factors contributed to improve affordability for homeownership. With this, more first time homeowners appeared on the scene. These new buyers contributed to an increased number of sales.

        AVERAGE SALE PRICE BY TOWN

        TOWN

        2010

        2011

        2012

        2013

        2014

        Barre City

        129,785

        131,568

        125,371

        132,044

        126,575

        Barre Town

        175,922

        188,845

        159,387

        170,331

        164,688

        Montpelier

        196,112

        218,808

        221,463

        239,930

        243,865

        U-32

        204,757

        213,214

        186,604

        241,047

        222,724

        Northfield

        155,857

        150,630

        207,675

        148,625

        151,812

         

         

         

         

         

         

         

         

         

         

         

         

        AVERAGES:

        172,487

        180,613

        180,100

        195,838

        181,932

         

         

        AVERAGE DAYS ON MARKET (D.O.M)

        Another number that presents a mixed picture of the market is the days on the market. That number is the number of days from when a property goes on the market to when it goes under contract. The escrow period (between accepted offer and closing) is not part of the calculation. This number should also be taken with a grain of salt for two additional reasons.

        First, some of the area sales were indicated by homeowners, and then were listed and sold with a Broker. The days on market calculation considers only the time a property was listed by the Realtor ultimately representing the property at the time of sale. Second, some of these properties may have been on and off the market over time.  Even considering these factors, this data has been compiled in a constant manner for years and do provide a valuable insight into the turnover rate in the market. As you will see below homes typically did sell much more quickly in 2014.

        AVERAGE D.O.M

        TOWN

        2010

        2011

        2012

        2013

        2014

        Barre City

        142

        158

        169

        123

        136

        Barre Town

        105

        136

        124

        152

        88

        Montpelier

        140

        110

        180

        115

        97

        U-32: Total

        159

        194

        166

         

         

        ->Berlin

         

         

         

        150

        159

        ->Calais

         

         

         

        281

        171

        ->E. Mont

         

         

         

        107

        127

        -> Middlesex

         

         

         

        185

        113

        -> Worcester

         

         

         

        125

        46

        Northfield

        258

        117

        229

        133

        137

         

         

         

         

         

         

        AVERAGES:

        165

        143

        173

        152

        119

         

        New Year's Eve in the Capital City

        For New Years Eve 2014, Montpelier decided to take a break from the usual festivities of First Night, but by popular demand, downtown Montpelier will be in full force for New Year's Eve 2015! With everthing from footraces, magic shows, concerts, great food, and fireworks, there's no reason not to be in the Capital City on New Year's Eve this year. 
         
        2:00 Central Vermont Runner's Club's Annual New Year's Eve 5-kilometer Road Race starting at the Pavilion State Office Building. (Must register at cvrunners.org)
         
        4:30-5:15 Marko the Magician (Magic show)
        5:45-7:00 Marko the Magician (Magic & Hypnosis)
        Located at the Montpelier High School Auditorium.
        Tickets will be available at the door, or you can order them ahead of time on Eventbrite.
         
        7:30 FIREWORKS SHOW! Gather at the State House Lawn for a great fireworks display.
         
        7:30 Dave Kellers New Year's Eve Extravaganza at Montpelier City Hall.
                        7:30 doors open
                        8:00-9:30 Performing: The Starline Rhythm Boys
                        10:00-1:00 Performing: The Dave Keller Band
        The Extravaganza will be held at City Hall, and tickets are available at the door for $15. Or you can buy your tickets ahead of time for $10 available at Capital Stationers or at lostnationtheater.org. Previously, the Extravaganza had over 500 people attend so get your tickets fast!
         
        9:00-1:00 "Speak Easy" costume party and live jazz music at Charlie O's. 

        Holiday Home Decorating Contest!

        Heney Realtors is holding a Holiday Home Decorating Contest! We're looking for homes in the Barre, Berlin, Montpelier, and Northfield areas that are showing their Holiday Spirit!

        Send us a picture of your outdoor decorations on our Facebook page or email it to Heney@HeneyRealtors.com by December 19th, 2014. 

        Our group of judges will be choosing the top 3 decorated homes and award them each with local prizes. 

        For those of you who have your homes for sale, this is a great opportunity for you! Get your home noticed this Holiday season with great lights and lawn ornaments! Because really, what draws your attention more...?

        No lights...OR... LIGHTS???

         

        We're excited about this contest and hope you are too! Have fun and good luck!

         

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        Building a house in Central Vermont

        Dodge Lots 2
        Dodge Farm has 5 lots for sale. Sweeping mountain views. Excellent location. Close to Montpelier, Barre, Berlin, I89. Great schools. $15,000 incentive available to first lot purchased in 2014.

        Building your Central Vermont Dream Home starts with the land. You have to find the right location: Is it convenient to work? Family and friends? What are the neighboring properties like? Is it in the school district you want? Then you have to like the lay of the land: Are you looking for something flat so you can garden? Or covered in maple trees so you can sugar? Once you find a location and topography you like you start to look into the basics: road, electric, water, septic, build site. Ideally some or all of those are in place.

        43132474
        Breathtaking views of the Worcester Mountain Range. Build your Central Vermont Dream House and enjoy.

        If you are building a house in Central Vermont consider starting with a choice piece of land:  The Dodge Farm lots in Berlin. The location is beautiful with sweeping mountain views. It is also convenient- just minutes to I89, Montpelier and Barre. The school district is considered very desirable. The lots are clear and level to gently sloping. The road in is well built with good drainage. There is underground power for each lot. The land has been perc tested and septic permits approved. There are proposed site plans. Essentially, much of the heavy lifting has been done. You can concentrate on the layout and finishes of your dream home rather than where to put the road and culverts.

        43132334
        Central Vermont Land for sale. Build ready. Berlin, VT. Great location. Beautiful views. Septic design permitted. Site plan available. Great Road. Underground electric.

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