Buyer Info

Ludlow VT Real Estate Tip: Navigating Home Inspections

Home inspections are not just for new home buyers! As we have discussed in previous posts, it is extremely important to have your Ludlow VT real estate inspected professionally on a regular basis – especially if you are using it as a vacation property – to ensure you keep up with any necessary maintenance or repairs.
Home inspectors offer many types of inspections to suit Ludlow VT real estate owners’ needs – some of these include:
– Pre-Listing Inspections
– Pre-Purchase Inspections
– New Construction Inspections
– HUD/FHA Inspections
– Multiunit Inspections
– Annual Maintenance Checkup
ISellVermontRealEstate.com. You may also begin searching for Ludlow VT real estate here!

Professional home inspectors examine existing homes using professional standards as a measure to accurately report their condition to parties involved in a real estate transaction, or to the existing owners looking to repair or renovate.

When purchasing a home, it is realistic that a buyer could save thousands of dollars by having a professional home inspection performed. Moreover, in areas with extreme weather circumstances, inspectors can help locate potential problems or damage that may be hidden to the naked eye.

To learn more about Ludlow VT real estate or for a referral to an experienced home inspector, please call me at 802-3531983 or visit

Encouraging News For Ludlow VT Real Estate Vacation Home Buyers

According to the latest research by the National Association of Realtors, 1/3 of all real estate transactions in 2007 involved second or vacation homes. Although sales declined overall when compared to 2006, the proportion of vacation home sales was still near-record.

Lawrence Yun, NAR Chief Economist, said lifestyle factors and strong demographics remain positive for the vacation home market. “Investment considerations are secondary for vacation-home buyers, so there is some dormant underlying demand,” he said. “A peak of population is moving through the prime years for buying recreational property. It is welcoming to see investment sales returning to pre-boom activity.”

To learn more about investing in Ludlow VT real estate, please call me at 802-353-1983 or visit ISellVermontRealEstate.com. You may also begin receiving automated emails containing Ludlow VT real estate that matches your criteria here!

Land Loan Financing

United Country Mortgage is now offering Land Loan financing for qualified applicants. Click here to find out more.
Let me help you find the right property, then call the United Country Financing team to secure your mortgage.
To learn more about Ludlow VT real estate or market trends, please call me at 802-353-1983 or visit ISellVermontRealEstate.com. You may also sign up to receive automated emails of new listings that match your criteria here

The Truth about Second Home Buyers in Today’s Real Estate Market.

This article is presented with permission and written by Denise Lones, M.I.R.M., CSP

Journalists are still riding the bandwagon of fear, reporting that second home purchases are going to be no more. Just last week, I heard a pundit advising people to keep their money in their primary residence because of the “impending recession”.

This is ridiculous. Nothing could be further from the truth. Contrary to popular belief, investing in a second home is—and will continue to be—a smart buying decision for many homeowners.

We live in the wealthiest country in the world. Second home buyers are not going anywhere. While the media hems and haws about all the unfortunate people who are in hard times, they completely ignore the fact that there are others who still have lots of money to invest. And what better investment than real estate—even if it’s not your primary residence?

I’m even going so far as to make a radical prediction:

Second home purchases will rise in the next five years.

That’s right—rise! Not diminish.

Here’s why:

1. As people age, they experience an increased need to have more quality of life and time away from home.

People love to get away. If they have the money, why not? They want a lifestyle change—the ability to go to a “home away from home”. Whether it’s a cottage in the mountains or a seaside shanty, there’s nothing like having a secondary place to escape to.

2. People have money and they want to invest it.

Traditionally, real estate is more stable than the stock market. This makes it a much more attractive investment for anyone skittish about putting their hard-earned money in the hands of Wall Street sharks.

In addition, the recent and dramatic drops in the Dow Jones have stirred up many valid fears among investors. For that very reason, real estate will continue to be the safer investment—guaranteeing that second-home buyers are here to stay.

Tell your clients about what’s going on. Don’t hold back. Crunch the numbers for them so that they see the incredible value of a second home.

3. People love to own real estate.

The very idea of being a “real estate investor” is enough to make some people purchase a property. Having that label is a sign of prestige, and raises people’s perception of themselves.

Whether or not you find this type of vanity attractive or repulsive, forget about how you think. Again, think like they think. It’s an undeniable fact that such people exist. They love nothing better than to go to cocktail parties and parade their wealth in front of others—describing their properties in detail.

Rather than despising these people for their snobbery—which many of us fall into the habit of doing—learn to love them for their ability to supercharge your business. With just a handful of wealthy investors as clients, a real estate agent can make a fortune.

4. Second-home communities are creating rental income possibilities for investors.

Many developers of second-home communities know that by including certain services, investors will take advantage of the additional income they may receive. Services such as having a concierge on duty 24/7. Or rental pools that encourage owners to rent during the off-season.

Developers have known for a long time that there is a huge market of second-home investors out there. By installing such services from the get-go, they maximize the potential of their community to attract them.

They know people will rent when they’re not there. Why pretend they’re not going to? Now, they encourage them instead. It’s a win-win for both the developer and the investor.

5. Having the ability to purchase a second home is an attractive trait to lenders.

Remember that second-home buyers have a solid track record being the owner of a first home. If a mortgage is all paid for and the buyer is looking to invest in a second one, then chances are this is a good client for the lender. It’s just plain easier to find financing if you already own a home.

Add in possible rental income and lenders become even more enthusiastic.

Side note: I know many of you reading this are struggling with mortgage payments of your own and can’t imagine buying a second home, especially in the current economic climate.

But in order to function best as a real estate agent, think outside of yourself. Think like an investor with a lot of capital. Where would you rather put your money—in volatile stocks or in a second home that you know will appreciate in value over the next 20 years?

As a real estate agent, what an opportunity it is to educate your wealthy clients about the value (and joy!) of investing in a second home rather than a Wall Street portfolio that has a higher chance of going bust.

Don’t listen to the media. Don’t listen to conventional wisdom. Don’t listen to people in financial trouble.

Second-home buyers are here to stay. Find them. Educate them. Help them make more money. When you do, you’ll see your own bank account grow.


Thank you Denise for allowing me to use the article

Irene

To learn more about buying a second home on Okemo Mountain VT or Ludlow VT real estate, please call me at 802-353-1983 or visit ISellVermontRealEstate.com. You may also request a relocation package by clicking here.

Ludlow VT Home Buyers – Why Get A Home Inspection

Buying your Ludlow VT home is one of the most significant decisions and biggest investments you will ever make. A professional home inspection will enable you to learn a great deal about a home, help give you peace of mind and answer some important questions. Whether you are buying or selling, you will have the benefit of knowing the ins and outs of a particular home.

Homebuyer Benefits:
You will gain an education of the home, top to bottom, so that you will know exactly what you are buying.. This information will help you to buy with confidence knowing that a true professional has carefully evaluated and inspected your future home.

Home Seller Benefits:
For sellers, a pre-listing inspection can detect previously unknown problems or potential upgrades that you wish to address prior to selling your home. Being aware of issues in advance will allow for disclosure of problems, which can result in smoother transactions for all parties.

Good Hiring Practices:
1. Hire a Professional.
Confirm your home inspector is a member of American Society of Home Inspectors (ASHI) – http://www.ashi.org/ and National Association of Home Inspectors (NAHI) http://nahi.org/.

2. Obtain a printed report.
Make sure you are given a complete, written report of your inspection results, preferably with photos included.

3. Attend the inspection.There is no substitute for the being at the inspection. The report provided is only a part of the inspection. When you attend the inspection, you can ask questions, and become more familiar with your home, you’ll gain greater comfort and confidence in your buying decision.

If you are ready to take advantage of the current Ludlow VT real estate market, please begin by calling me at 802-353-1983 or visit ISellVermontRealEstate.com. You may also begin searching the MLS here.

In a Buyer’s Market, Seek Incentives!

A “buyer’s market” occurs when there are a lot of homes for sale and they are staying on the market for a long time. During times like this, home buyers are in a great position to negotiate for lower prices and incentives. IsellVermontRealEstate.com or call me at 802-353-1983. To receive a complimentary e-book on moving or preparing to sell your home, please click here!

The guidelines for buyers’ incentives vary among loan options, so make sure to get pre-qualified first so you can ask your loan officer about the allowable incentives for your loan program and down payment.

So, what can you ask for? Here are some ideas:
If you are putting ten percent or more down, you can ask for up to six percent of the price of the home. If you are putting less than ten percent down, you can ask for three percent of the price. This “cash back” could be used to cover your non-recurring closing costs (things like points and mortgage fees that you only pay one time), or to cover the cost of extensive repairs to the home, if they are needed. Most loan programs will only allow you to apply incentives toward non-recurring closing costs. Your Realtor will make sure that the incentive request is spelled out clearly and thoroughly in your offer to purchase the property.

If you are paying cash for a property, you have much more negotiating power when it comes to the selling price if you state in the offer that you will be paying cash. In a buyer’s market, sellers are generally seeking a quick and “painless” sale: i.e., one where they do not have to worry that the deal may fall through due to credit or loan problems.

When asking for incentives in an offer, it is important to make sure you do not get taken advantage of by a lender who may inflate your loan costs to “use up” the incentives you negotiated. An experienced and perceptive Realtor will be able to help make sure you are protected.

It is important to avoid “loading up” your offer with a lot of contingencies (such as offering to purchase the home, but only after your current home has sold), especially when you are pursuing incentives. Doing this makes it less certain you will actually close, so a seller will be less likely to offer financial incentives in hopes of a quick sale. The one contingency you always want to include, especially in a buyer’s market, is that your offer is contingent upon the property appraising at or above the purchase price by the lender’s appraiser.

For more information about Ludlow VT real estate, please visit

Buyers Beware When Investing in Foreclosures in Ludlow VT

We’ve been covering the hot topic of foreclosures a lot lately, because the number of homeowners defaulting on their home loans has been rising at an unprecedented rate across America. Today I want to look at the topic from a different angle.This article from RealEstateJournal.com covers some of the caveats to investing in foreclosures. If you are investing in a property with the hopes of “flipping” it for a quick re-sale, you should consult an experienced Realtor first to get a clear picture of the current real estate market in your area. Homes may not be selling quickly in your area, which means you could end up with a property that continues to sit on the market while you keep making payments on it. Also, most homes purchased at auction cannot be inspected first, so your new property may come with major structural damage, hidden liens, or utility bills that need to be paid. It is up to the potential buyer to weigh out how much you are willing to invest in improvements over and above the actual price of the property.email or call me at 802-353-1983. You can also visit ISellVermontRealEstate.com or begin searching the MLS here. I would be happy to help you invest in your future in Ludlow VT.

While there are many homeowners today who are struggling to meet their mortgage payments, there are just as many would-be investors who are eager to capitalize on the situation by investing in foreclosures and – they hope – selling them for a hefty profit.

This may seem easy on the surface, given the rising number of foreclosed properties; however, potential investors should take the time to understand what they are getting into before heading to an auction or purchasing any bank-owned property.

 

If you are thinking of investing in Ludlow VT real estate, please

How to Write Off Your Move to Ludlow, VT

Many home buyers are not aware of the fact that most moving expenses for a job-related move are tax deductible. If you want the savings, however, it is extremely important to keep detailed records of all moving expenses, including house-hunting trips, if your move is job-related.

If you are moving more than 35 miles from your current home, you can deduct all kinds of moving expenses, including but not limited to: your family’s travel expenses, including meals and lodging; the cost of transporting furniture, other household goods, and personal belongings; food and hotel bills for up to 30 days in the new city if you have to wait to move into your new home; and the costs associated with selling your old home or leasing your new home.

The IRS’s Publication 521, “Tax Information on Moving Expenses,” provides all of the details on deducting items related to your move, including limits to how much you may deduct. You can download the publication using the link above, or pick it up for free at any IRS office!

Thinking about moving to Ludlow, VT? Start by searching the MLS here, or call me at 802-353-1983 for all of your Ludlow VT real estate needs!

Vermont Homeowners Insurance & The Fire Station

So what does the location of my Vermont home have to do with the fire station?

Most insurance companies will ask the proximity of your home to the nearest fire station or fire hydrant. The closer together they are the cheaper the insurance.

The theory behind this is, if there were to be a fire, the closer the house is to the fire station, the faster the response time and the less damage done to the house.

Often, your insurance agent will ask you how far the house is from the fire station and if you are like most new home buyers, you don’t have any idea. This link shows the name and address of all Vermont fire departments. After locating the fire department for your town, you can map the distance from your house to the fire station.

For more information about homeowners insurance or Ludlow VT real estate visit ISellVermontRealEstate.com or give me a call at 800-659-1819. I’m glad to help!

Homes That Save Buyers Money

This article by Linda Legner was posted on the Vermont Association of Realtor website and I thought you would find it informative:

More buyers are taking the environment into account when searching for a home—they’re looking for earth-friendly features that translate into lower energy bills and less pollution.
This growing trend gives you the opportunity to make your listing stand out from the rest by calling attention to all of its energy-efficient amenities, from properly-sealed windows to Energy Star appliances.

Whether your listing is a brand new condo or an old Victorian, just a bit of investigating can uncover many “green” features that will grab buyers’ attention. Use this list to identify areas of the home where energy efficiencies may be lurking:

  • Appliances and lighting. From the laundry machine to the dining room chandelier, energy-efficient products are proven to save money and consume less energy. To confirm that various products outperform average standards, look for the blue-and-white Energy Star label. The U.S. Environmental Protection Agency issues this designation only to products that are among the most efficient on the market. The Energy Star Web site provides a comprehensive list of all Energy Star Qualified Products.
  • Insulation. Air leaking through exterior surfaces—such as walls, windows, the roof, and the floor—can waste 25 percent to 40 percent of the energy used to heat or cool a home, according to Energy Star. Local building codes and the U.S. Department of Energy specify acceptable insulation, measured in R-values. The higher the R-value, the more effective the insulation. If your listing has insulation that surpasses local standards, that’s an advantage you can tout to potential buyers. Be sure to mention insulation installed in attics and crawlspaces. Also, don’t forget to point out wraps, sealants, foams, and tape installed to reduce air moving through the gaps around framing, piping, electrical wiring, and outlets.
  • Windows. Depending on the climate and total glass area, windows account for 25 percent to 50 percent of a home’s heating and cooling needs. But technological advances in window materials mean much better energy efficiency. U-Factors rate insulating ability for windows; the lower the U-Factor, the better the insulation of the window. Typical U-Factor values range from 0.25 to 1.25. If your listing has insulated window frames or frames made of low-conductance materials (wood, vinyl, or fiberglass), you should call out these features to potential buyers.
  • Heating and cooling systems. Efficient heating, ventilation, and air conditioning equipment consumes less fuel, emits less pollution, and generally requires less maintenance. A furnace’s heating efficiency is measured by the annual fuel utilization efficiency rating, or AFUE. The U.S. Department of Energy requires all furnaces sold in the United States to have a minimum AFUE rating of 78 percent, which means that the furnace converts 78 percent of the fuel to heat. Only ratings of higher than 90 percent earn the Energy Star label. Similarly, air conditioners should have at least a 10 seasonal energy efficiency ratio, or SEER. Energy Star requires a SEER rating of 12 or higher.

If the home has zoned systems that allow different areas to be heated and cooled separately, let potential buyers know that these features deliver additional operating savings. Point out programmable thermostats with timers and variable-air controls, as well as ceiling fans. Let buyers know if a fireplace has glass doors and a heat-air exchange mechanism, which returns warmed air to the room instead of letting it escape. And don’t forget to promote radiant flooring, which heats from the ground up and eliminates the draft and dust problems associated with forced air heating systems.

  • Landscaping. Well-done landscaping can greatly reduce heating and cooling costs, protect the home from winter wind and summer sun, and help control noise and air pollution. Also, some species of trees, bushes, and grasses require less water than others, or are naturally more resistant to pests so they require fewer pesticides. Learn what kind of plants and trees are growing around the house and promote all of their benefits to buyers. For more details on what to look for, visit Landscaping for Energy Efficiency, an online guide from the U.S. Department of Energy.
  • The entire house. Some new homes are rated for overall efficiency by the Energy Star program. A new home certified through the Energy Star program performs at least 30 percent more efficiently than houses built to the 1993 Model Energy Code (or 15 percent more efficient than your state energy code if that is more stringent). The Energy Star designation is verified by an accredited home energy rater and displayed on the inside of the circuit breaker.

Even if your listing isn’t a home that buyers would traditionally think of as being green, it is sure to have at least some eco-friendly features that will give it a marketing edge. Let potential buyers know how the home will help their energy bills and the environment, and you may be surprised at how fast you can clinch the sale.

Learn More

  • Energy Star ProgramThe U.S. Environmental Protection Agency introduced Energy Star in 1992 to identify and promote energy-efficient products to reduce greenhouse gas emissions. The label is now on appliances, lighting, home electronics, and other products. It also covers new homes and commercial and industrial buildings.
  • Glossary of Energy-Related TermsThe acronyms alone can be confusing! If you can’t recall what AFUE measures or what SEER stands for, come to this glossary for clarification. You’ll also find definitions for hundreds of energy-related words.
  • Energy Savers: Tips on Saving Energy & Money at HomeThis site, from the U.S. Department of Energy’s Office of Energy Efficiency and Renewable Energy, offers energy-saving tips for all areas of the home, plus a variety of booklets you can download and print in English or Spanish.
  • Energy Efficiency and Renewable EnergyThis portal site by the U.S. Department of Energy provides links to other Web sites and online information on energy efficiency and renewable energy.

Besure to visit my website for all your Ludlow VT real estate needs.