Getting your Vermont Home or Condo Ready For Sale in Today’s Real Estate Market

When preparing your actual home for the real estate sales market there are things you will want to do to make your home or condo presentable for prospective home buyers. Vermont real estate home sellers know that putting your best foot forward is a must when it comes time to sell your home.

Here is a list of Vermont home buyer and home seller tips to make sure you sell your Vermont home or condominium for top dollar in any real estate market.

1. When a buyer comes to look at your house, the first thing they will see is your home’s front door! Vermont winters are tough on the exterior trim and home features. Make it look fresh and clean. Be sure your lawn and landscaping is well manicured and trim looking. Be sure the yard is free of refuse and leaves. If it has snowed, be certain the ice and snow is removed from walks and steps.
2. Faded walls and worn woodwork will reduce the appeal of your home. A quicker sale at a higher price will result by investing in fresh paint or wallpaper.
3. Open those drapes and curtains all the way. Let the buyer see how bright and cheerful your condominium home is.
4. Dripping water discolors sinks and suggests to the buyer that the plumbing may be faulty or worn out. Repair or replace faucets and plumbing fixtures. Older Vermont homes may need a little more attention in this area.
5. Take a few minutes to check to be sure that your doors don’t stick or have loose knobs on them. Don’t forget your windows and cabinet drawers.
6. Be certain stairways are clear and clean since this will avoid injuries around your home, as well as avoid distraction to the potential buyers.
7. Display your attic, basement, utility space and garage by removing all unnecessary articles. A coat of paint can do wonders if your homes basement appears dark and dreary.
8. Make closets look bigger by having them neat and well organized. Old Vermont homes tend to have small closets. Make sure to be neat and tidy in these areas to show your home has ample closet space.
9. Make sure your bathroom sparkles. Check and repair any damaged or discolored caulking in the bathtubs and showers, and be sure that the towels and area rugs are bright.
10. Keep all rooms throughout your home bright and cheerful. Remove any excess furniture. The lighter the room the better.
11. Your home’s illumination can be a “welcome sign” to that prospective buyer! Turn on all your outside and inside lights when showing your home at night and they’ll feel glowing warmth as a result of your lighting.

Vermont real estate can be challenged by a number of factors from age of a property to weather conditions varying from rain to snow. The above tips can provide a guideline for condo and home buyers and sellers in the Vermont real estate market.

posted by Bill Desautels P: (802) 655-9100 (800) 639-4520 x217 F: (802) 655-0400 E: bill@movevermont.com The Desautels Group – Vermont real estate Bill Desautels has been providing advice to buyers and sellers of Vermont real estate for nearly 30 years.

Saving Energy at Home – Tankless Hot Water Heaters

Just prior to the Christmas holiday I converted my home propane hot water heater to an on-demand propane hot water heater system. These hot water heaters are also knows as the tankless hot water heaters. I’m always hesitant to praise the newest technology but I need to share with everyone how pleased I am with this product.

The on demand tankless hot water system is manufactured by Rinnai. You may be familiar with Rinnai for their production of efficient wall unit heat systems. Many Rinnai heaters can be seen throughout homes and condos in Chittenden county Vermont and the greater Northeast as people have converted their conventional heating systems to these more efficient Rinnai heat systems.

Heating water was another issue and I was very skeptical of the Rinnai tankless hot water heater. After speaking with many buyers and sellers of Vermont real estate I learned that it was time to convert my old hot water heater system to the Rinnai tankless hot water heater. These systems have been around for a long time. In Europe they tend to be the common source for residential hot water. I’m just hearing more and more clients sing their praise.

After one month of use I have never run out of hot water. There are some adjustments to having to wait a little longer for the hot water to arrive at the kitchen sink but based on the decrease in my monthly propane bill it’s worth it.

I purchased the Rinnai tankless hot water heater from Benoure Plumbing of South Burlington, Vermont. The guys at Benoure did the installation in one day and when I returned home that evening you couldn’t tell any difference. The greatest benefit is the decrease in propane usage for my home. I would suggest having a professional plumbing contractor like Benoure assess your family’s water usage and help you determine the correct size/capacity for the tankless hot water for your home or condo.

posted by Bill Desautels P: (802) 655-9100 (800) 639-4520 x217 F: (802) 655-0400 E: bill@movevermont.com The Desautels Group – Vermont real estate Bill Desautels has been providing advice to buyers and sellers of Vermont real estate for nearly 30 years.

The Homebuyer Tax Credit $6,500 or $8,000 – Which one is for you?

I posted this blog for the Homebuyer Tax Credit in November, 2009. I have posted it again to give Buyers and Sellers of Vermont Real Estate a review of the details concerning the tax credit. Time is running out for the homebuyer tax credit.

WHO IS ELIGIBLE
• First-time homebuyers, who have not owned a principal residence in
the last three years may be eligible for up to an $8,000 tax credit.
• Existing homeowners who have resided in their principal residence for
five consecutive years out of the last eight and are purchasing a home to
be their principal residence (“repeat buyer”), may be eligible for up to a
$6,500 tax credit.
• All U.S. citizens who file taxes are eligible to participate in the program.
INCOME LIMITS
Homebuyers who file as single or head-of-household taxpayers can claim
the full credit ($8,000 for first-time buyers and $6,500 for repeat buyers)
if their modified adjusted gross income (MAGI) is less than $125,000.
• For married couples filing a joint return, the combined income limit
is $225,000.
• Single or head-of-household taxpayers who earn between $125,000
and $145,000, and married couples who earn between $225,000 and
$245,000 are eligible to receive a partial credit.
• The credit is not available for single taxpayers whose MAGI is greater
than $145,000 and married couples with a MAGI that exceeds $245,000.
EFFECTIVE DATES
• Homes must be purchased after Nov. 6, 2009, and before May 1, 2010.
However, home purchases subject to a binding sales contract signed by
April 30, 2010, will qualify for the tax credit provided closing occurs prior
to July 1, 2010.
TYPES OF HOMES THAT QUALIFY
• All homes with a purchase price of less than $800,000 qualify, including newly-constructed or resale, and single-family detached, townhomes or condominiums, provided that the home will be used as their principal residence. Vacation
home and rental property purchases do NOT qualify.
TAX CREDIT IS REFUNDABLE
• A refundable credit means that if the amount of income taxes you owe is less than the credit amount you qualify for, the government will send you a check for the difference.
FOR EXAMPLE:
• A first-time buyer who qualifies for the full $8,000 credit who owes $5,000 in federal income taxes would pay nothing to the IRS and receive a $3,000 payment from the government. If you are due to receive a $1,000 refund, you would receive $9,000 ($1,000 plus the $8,000 first-time homebuyer tax credit).
• A repeat buyer who owes $5,000 would pay nothing to the IRS and receive
$1,500 back from the government. If you are due to get a $1,000 refund, you would get $7,500 ($1,000 plus the $6,500 repeat buyer tax credit).
• All qualified homebuyers can take the tax credit on their 2009 or 2010
income tax return.
PAYBACK PROVISIONS
The tax credit is a true credit. It does not have to be repaid unless the home owner sells or stops using the home as their principal residence within three years after the purchase.

posted by Bill Desautels P: (802) 655-9100 (800) 639-4520 x217 F: (802) 655-0400 E: bill@movevermont.com The Desautels Group – Vermont real estate Bill Desautels has been providing advice to buyers and sellers of Vermont real estate for nearly 30 years.

Vermont Real Estate – First Time Home Buyer’s Tax Credit

posted by Bill Desautels P: (802) 655-9100 (800) 639-4520 x217 F: (802) 655-0400 E: bill@movevermont.com The Desautels Group – Vermont real estate Bill Desautels has been providing advice to buyers and sellers of Vermont real estate for nearly 30 years.

Winter Homeowner Challenges

Winter in Vermont can have its challenges. One of those is cleaning up after a big snowfall like we received this past weekend.

Please remember to clean out around any dryer or furnace vents that come out a side wall in your house.
If a vent becomes buried in snow or obstructed by a shrub, this may shut down your equipment – or draw exhaust fumes into your home, which can produce high levels of CO inside your house.
To prevent these problems, it’s important to remove snow around the vent approximately 48 inches in all directions, and trim any shrubs around the vent, so that your equipment can discharge exhaust.

For more information, please visit the Vermont Department of Fire Safety website, Vermont Gas website, or contact your fuel provider.
Have a safe, and warm, winter season.

posted by Bill Desautels P: (802) 655-9100 (800) 639-4520 x217 F: (802) 655-0400 E: bill@movevermont.com The Desautels Group – Vermont real estate Bill Desautels has been providing advice to buyers and sellers of Vermont real estate for nearly 30 years.

Australia Has the World’s Largest Homes

Australia has overtaken the United States to lead the world with the largest homes according to a report by the Commonwealth Bank of Australia. The Australian house size has grown on average by 10 % in the past decade to 2,310 sq ft. The average size of new homes started in the United States as of September, 2009 was 2,169 sq ft. The average US home is shrinking for the first time in a decade due to changes in the global economy.

In Europe, Denmark has the biggest homes followed by Greece and the Netherlands. Homes in Great Britain are the smallest in Europe but according to data from the Australia Bureau of Statistics Australian houses are getting bigger and so are Australian families. The number of people in each household has risen to 2.56 from 2.51, the first such rise in least 100 years.

Other factors for larger homes include conditions similar to what many families are experiencing across the globe. Children are living at home longer with their parents and more people are opting for shared accommodations. The “Generation Y” is shocked by the cost of housing, choosing to stay at home longer with parents. And parents are moving back in with their children as a cost saving factor and as a means to support their kids and grandchildren.

Maybe the global economic shift has prompted Americans to establish a new trend of smaller homes.
The US has often been a leader and model for housing trends. As Americans strive to attain the “American Dream” of home ownership they may be looking to countries that have found the dream of home ownership just in a smaller package.

posted by Bill Desautels P: (802) 655-9100 (800) 639-4520 x217 F: (802) 655-0400 E: bill@movevermont.com The Desautels Group – Vermont real estate Bill Desautels has been providing advice to buyers and sellers of Vermont real estate for nearly 30 years.

Welcome to the Boomerhood

What does your neighborhood look like? Has it changed?

Retiring Baby Boomers are snubbing the gated living housing community and calling downtown their neighborhood. Looking to have a positive mark on society and choosing to be far more active than their parent’s generation, Boomers are moving into cities and towns. As I look around the city of Burlington Vermont and some of the surrounding towns it’s hard not to notice a new defining face in these communities and their residential neighborhoods.

The smaller post WWII track homes of Burlington’s North end and South end neighborhoods are a perfect fit for the downsizing empty-nesters. These along with the numerous condominium communities that have sprung up over the last decade have strong appeal to the Boomers. Whether it’s a single family home or condo, Boomers enjoy the ease and convenience of shopping, theatre, kike & walking trails, Lake Champlain and the Church Street Market Place.

This transition in the real estate housing market is exciting as I have begun marketing a new downtown condominium midrise residence call Stratos. Stratos is located on St. Paul Street, three blocks from Burlington City Hall Park. Stratos is easy walking distance to Lake Champlain, Burlington’s Harbor, and the Church Street Marketplace. This setting makes Stratos an ideal residential address for the Boomers. And as with any downtown/city neighborhood, the community is diverse and dynamic.

The Condo Guy team has begun pre-selling Stratos condominiums. I would like to invite you to meet with me to view floor plans, building renderings, and product samples of the design features of Stratos.

Burlington’s newest and most exciting condominium property has a fantastic downtown address. Come visit Stratos today.

posted by Bill Desautels P: (802) 655-9100 (800) 639-4520 x217 F: (802) 655-0400 E: bill@movevermont.com The Desautels Group – Vermont real estate Bill Desautels has been providing advice to buyers and sellers of Vermont real estate for nearly 30 years.

New Guidelines to Speed up the Short Sales Process

The U.S. Treasury Department on Monday released a plan to speed up and encourage Short Sales as a means to help families avoid foreclosure. RE/MAX International has been offering Short Sale proposals to public officials for over a year, and although the new guidelines aren’t everything we were hoping for, they do represent a significant improvement over the current situation.

Short Sales have been difficult to close, and these new measures are a huge step in the right direction. One major highlight: A lender must give a yes or no answer to an offer within 10 days. Also included: a moving allowance, incentives for sellers and lenders, and a stipulation that releases sellers from debt liabilities.

As I’ve said throughout 2009, the key is to become experts in the process and that is why I have obtained the professionals designation of Certified Distressed Property Expert. We expect a tremendous increase in Short Sales during the coming year, and it’s vital that RE/MAX Associates continue to lead the industry in Distressed Property skills and training.

At RE/MAX International, our staff is quickly developing resources to help you understand the new Short Sale guidelines for buyers and sellers.

posted by Bill Desautels P: (802) 655-9100 (800) 639-4520 x217 F: (802) 655-0400 E: bill@movevermont.com The Desautels Group – Vermont real estate Bill Desautels has been providing advice to buyers and sellers of Vermont real estate for nearly 30 years.

Homebuyer Tax Credit Extension – April 30, 2010

WHO IS ELIGIBLE

• First-time homebuyers, who have not owned a principal residence in
the last three years may be eligible for up to an $8,000 tax credit.
• Existing homeowners who have resided in their principal residence for
five consecutive years out of the last eight and are purchasing a home to
be their principal residence (“repeat buyer”), may be eligible for up to a
$6,500 tax credit.
• All U.S. citizens who file taxes are eligible to participate in the program.

INCOME LIMITS

Homebuyers who file as single or head-of-household taxpayers can claim
the full credit ($8,000 for first-time buyers and $6,500 for repeat buyers)
if their modified adjusted gross income (MAGI) is less than $125,000.
• For married couples filing a joint return, the combined income limit
is $225,000.
• Single or head-of-household taxpayers who earn between $125,000
and $145,000, and married couples who earn between $225,000 and
$245,000 are eligible to receive a partial credit.
• The credit is not available for single taxpayers whose MAGI is greater
than $145,000 and married couples with a MAGI that exceeds $245,000.

EFFECTIVE DATES

• Homes must be purchased after Nov. 6, 2009, and before May 1, 2010.
However, home purchases subject to a binding sales contract signed by
April 30, 2010, will qualify for the tax credit provided closing occurs prior
to July 1, 2010.

TYPES OF HOMES THAT QUALIFY

• All homes with a purchase price of less than $800,000 qualify, including newly-constructed or resale, and single-family detached, townhomes or condominiums, provided that the home will be used as their principal residence. Vacation
home and rental property purchases do NOT qualify.

TAX CREDIT IS REFUNDABLE

• A refundable credit means that if the amount of income taxes you owe is less than the credit amount you qualify for, the government will send you a check for the difference.

FOR EXAMPLE:

• A first-time buyer who qualifies for the full $8,000 credit who owes $5,000 in federal income taxes would pay nothing to the IRS and receive a $3,000 payment from the government. If you are due to receive a $1,000 refund, you would receive $9,000 ($1,000 plus the $8,000 first-time homebuyer tax credit).
• A repeat buyer who owes $5,000 would pay nothing to the IRS and receive
$1,500 back from the government. If you are due to get a $1,000 refund, you would get $7,500 ($1,000 plus the $6,500 repeat buyer tax credit).
• All qualified homebuyers can take the tax credit on their 2009 or 2010
income tax return.

PAYBACK PROVISIONS

The tax credit is a true credit. It does not have to be repaid unless the home owner sells or stops using the home as their principal residence within three years after the purchase.

posted by Bill Desautels P: (802) 655-9100 (800) 639-4520 x217 F: (802) 655-0400 E: bill@movevermont.com The Desautels Group – Vermont real estate Bill Desautels has been providing advice to buyers and sellers of Vermont real estate for nearly 30 years.

NEW Changes to Homebuyer Tax Credit

posted by Bill Desautels P: (802) 655-9100 (800) 639-4520 x217 F: (802) 655-0400 E: bill@movevermont.com The Desautels Group – Vermont real estate Bill Desautels has been providing advice to buyers and sellers of Vermont real estate for nearly 30 years.