Tim Heney

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.