2008 Ludlow VT Real Estate Predictions
Happy New Year, Ludlow! I hope that everybody enjoyed a very happy holiday season and that 2008 is off to a great start for you and your family.The National Association of Realtors
has published its predictions for the 2008 housing market, and the data looks positive so far. Most noteworthy is the trend toward improving existing home sales.
Lawrence Yun, senior NAR economist, said “Now that mortgage conditions have improved, some postponed activity should turn up in existing-home sales over the next couple of months, and I expect sales at fairly stable to slightly higher levels.”
Existing home sales are expected to rise to $5.7 million in 2008 – making it the fifth highest year on record. Existing home prices, which declined 1.9% to a median of $217,600 in 2007, are expected to go back up about .3% in 2008. As Yun noted late in 2007 “even with a modest decline in the national aggregate price this year, it’s important to keep in mind that nearly two-thirds of the metro areas in the US are showing price increases … the apparent disparity results from fewer sales in high-cost areas, so a change in the mix is dragging down the national median home price.”
To find out the latest trends in Ludlow VT real estate, please call me at 802-353-1983 or visit ISellVermontRealEstate.com. To begin searching for Okemo Mountain VT homes, please use my complimentary MLS search.
Real Estate Resolutions for 2008
I hope that everyone has enjoyed a happy and safe holiday season thus far. With the new year upon us, however, it is time to face the inevitable: the New Years Resolution. In 2008, why not make a few real estate resolutions? Here are some ideas to get you started:ISellVermontRealEstate.com or call me at 802-353-1983. To begin searching for Ludlow VT homes, please use my complimentary MLS search!
Know your credit! Make a resolution to stay on top of your credit in 2008. Begin by getting a detailed credit report so that you know where you stand as the year begins. Check again at the end of the year to see how much your credit has improved!
Keep a budget. This can be a difficult one to stick to. Many people start the year with an idealistic budget, but soon let it go out the window – oftentimes, along with any hopes of saving for real estate investment! Begin with a goal of either setting aside a certain amount for a down payment on a real estate investment or putting away enough to make one extra mortgage payment in 2008.
Research real estate web sites. Be a snoop in 2008! Use web sites like mine to keep tabs on what homes in your neighborhood are selling for, where the foreclosures near you are, and what the general market is like in your area. When you are ready to make a real estate investment, you will already have a good feel for the local market.
Out with the old! Even if you are not planning to move in 2008, it never hurts to clean out your closets, garage, or attic and donate to charity. You’ll make your home more appealing to prospective buyers if you are selling, and you’ll feel more organized if you are staying put.
Best wishes for a very happy new year – see you in 2008!
For more information about Ludlow VT real estate, please visit
Ludlow VT Real Estate Update
Attention, home sellers! Even in an uncertain real estate market, there may be good news for you – depending on where you live. The National Association of REALTORS® has published the results of its quarterly sales survey and found that the median home price continues to rise in most metropolitan areas. The median is a typical market price – meaning half of all homes sold for more, and half of all homes sold for less.
Lawrence Yun, NAR chief economist, said the data underscores the fact that all real estate is local. “Some metro areas are hot, while others are experiencing localized problems,” he said.
Moving into 2008, we will keep a close eye on the Okemo Mountain area market trends to see how prices affect sales volume. Since the market changes month to month and neighborhood to area, please contact me at 802-353-1983 or visit ISellVermontRealEstate.com to get the latest information on Ludlow VT real estate. To receive a complimentary home value analysis, please click here.
~Best wishes for a safe and happy holiday season!~
The Basics of 1031 Exchange
Many homeowners have heard of a “1031 Exchange,” but few understand the basics of what an exchange actually entails. Today I want to cover just a few of the basics of the process, as it can be an invaluable method of homeownership for investment homeowners.US CODE: Title 26, §1031. Exchange of Property Held for Productive Use or Investment
What is a 1031 Exchange?
Put simply, it is the sale of one property in exchange for the purchase another property of similar value without the required payment of capital gains tax, all performed within a specific time frame. An example of when you might use a 1031 Exchange, as opposed to selling a home and purchasing a new one outright: you want to sell your current vacation home and purchase a new, similar one that has a few better features. You have not yet owned your current vacation home for two years, so you are subject to substantial capital gains taxes when you sell it. If you were to use a 1031 Exchange, you could “exchange” your current home for a new one and be relieved of the capital gains requirement. It is this difference between “exchanging” and not simply buying and selling which, in the end, allows you, the taxpayer, to qualify for a deferred gain treatment. In a nutshell: sales are taxable with the IRS and 1031 exchanges are not.
Important Rules of 1031 Exchange
1. The total purchase price of the replacement “like kind” property must be equal to, or greater than the total net sales price of the relinquished, real estate, property.
2. All the equity received from the sale, of the relinquished real estate property, must be used to acquire the replacement, “like kind” property.ISellVermontRealEstate.com. To request more information about 1031 exchange, please click here and select the reports you would like!
1031 Timelines and Rules
Identification period – the seller has exactly 45 days from the sale of the original property to identify other replacement property(s) that he proposes or wishes to buy.
Exchange period – the period during which the seller of the relinquished property must receive the replacement property. This period ends exactly 180 days after the date on which the person transfers the property relinquished or the due date for the person’s tax return for that taxable year in which the transfer of the relinquished property has occurred, whichever situation is earlier.
If you want to learn more about strategies for buying and selling investment properties, or are interested in Okemo Mountain real estate, please call me at 802-353-1983 or visit
Make Your Ludlow VT Vacation Home Pay For Itself!
According to this MSN.com article, it could indeed be possible for a vacation home to pay for itself in the long-run.ISellVermontRealEstate.com. Or, click here to sign up to receive automated emails of new listings that match your criteria.
Investor Christine Hrib Karpinski offers these three basic rules for purchasing and managing a vacation home:
– Vacation homes need to be rented 15 to 17 weeks a year in most areas to break even.
– Internet advertising is essential. Karpinski recommends advertising your home on 3-5 web sites to ensure the maximum amount of exposure.
– Consider cutting out the middle-man and being your own rental agent.
Karpinski also suggests asking yourself these four questions before jumping into vacation home ownership:
· Are you ready to do the research to find the right home in the right area for you?
· Are you willing to give up the use of your property during peak season?
· Are you willing to put in the necessary work, including advertising and maintenance duties?
· Can you hold on if things get tough?
If you are ready to begin your search for a Ludlow VT vacation home, please call me at 802-353-1983 or visit
How to Add Light to Your Ludlow VT Home
We’ve all rolled our clocks back an hour and are beginning to adjust to the earlier onset of evening. In the winter months our homes can seem darker than usual, but there are ways to use the natural light that is available in your home to brighten things up. Money Magazine has published a list of “Do’s” and “Don’ts” for adding light to any home – among the topics covered are:click here. For more information about Ludlow VT real estate, please visit ISellVermontRealEstate.com or call me at 802-353-1983.
– Skylights (pick ones that open and choose carefully where to put them)
– Big windows (install them to showcase your best views, but don’t forget to add small windows above or below them that open)
– Window height (put windows high on the wall, but not tight to the ceiling)
– Window grouping (group several windows together, but don’t separate them with fat supports)
– Window shades (install shades in windows that face east, west, and south; avoid using UV-inhibiting coating)
Following these tips for adding light to your home will help to increase your home’s value. To receive a complimentary comparative home value analysis,
The Lowdown on Ludlow VT Vacation Home Taxes
If you are considering purchasing an Okemo Mountain VT vacation home in time for ski season, you may be curious about how you will be taxed on the prospective property.This article from Smart Money magazine explains how you can purchase a vacation home and afford to pay the taxes on it. In addition to covering timeshares and multiple residences, vacation homeownership is broken down into three main groups for tax-related purposes:ISellVermontRealEstate.com. Or click here to see my current listings!
· Use a lot, rent a lot (home is considered a personal residence but income must be accounted for)
· Rent a lot, use a little (home is considered a rental property)
· Use a lot, rent a little (home is considered a personal residence and income does not have to be declared)
If you are thinking of purchasing a Ludlow VT vacation home, please call me at 802-353-1983 or visit
Home Fire Safety in Ludlow VT
With this week’s news coverage of the devastating fires in California, home fire safety is a most timely topic. Although we may not be at great risk for wildfires here in Vermont, we do tend to enjoy cozying up by the fireplace on a winter’s night – an activity that can be a big fire hazard. An important part of responsible homeownership is being prepared to both prevent a fire in your home and to rescue yourself and your family should there be a fire in your home.This printable Fire Safety Checklist, provided by FireSafety.gov, is a great resource for determining what fire hazards may lurk in your home, how to reduce those hazards, and what to do if there is a fire. The Today Show also provided some useful tips
to ensure homeowners would be prepared to evacuate their homes with little or no notice in the event of an emergency such as fire. These tips include:
Make copies of your documents. Either put them in a waterproof and fire-proof safe, or give the copies to a trusted friend or relative. Make electronic copies, as well. Remember that valuables left in a safe deposit box at a bank could also be destroyed in the case of a widespread natural disaster.
Get your insurance information in order. If disaster strikes, make your claim right away, and be sure to take pictures of the damage.
Prepare an emergency kit. Don’t wait until it’s too late. Gather essential items such as a battery operated radio, bottled water, food, medication, blanket, first-aid kit, etc.
Come up with a family plan. Again, do it now! Make sure everyone knows where the important documents are, and agree on a meeting place in case you become separated.
Get your insurance information in order. If disaster strikes, make your claim right away, and be sure to take pictures of the damage.
Prepare an emergency kit. Don’t wait until it’s too late. Gather essential items such as a battery operated radio, bottled water, food, medication, blanket, first-aid kit, etc.
Come up with a family plan. Again, do it now! Make sure everyone knows where the important documents are, and agree on a meeting place in case you become separated.
Many of these items are tips we hear over and over again, but they never really seem useful until a disaster strikes close to home. By the time that happens, of course, it is generally too late to put the tips to use. Preparedness now can save time and, possibly, lives later.
If you are thinking of becoming a homeowner in Ludlow VT, please call me today at 802-353-1983 or visit ISellVermontRealEstate.com. You may also begin searching Ludlow VT real estate here!
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 Avoid Foreclosure in Ludlow VT
If you have a mortgage on your Ludlow VT home, you have probably been paying close attention to the latest interest rates and are aware of the ongoing rise in the foreclosure rate across America.This article from FreddieMac.com outlines the terms associated with foreclosure and gives a good starting point with steps to take if you think you may soon be unable to pay your mortgage. Some of the topics covered in this helpful article:
– What to do if you can not pay your mortgage
– What if you can no longer afford to keep your home
– Beware of scam artistshere!
What would you do if you were actually faced with the prospect of foreclosure? Would you have the information needed to make an informed decision on your financial future? Many homeowners think it can or will not happen to them, so they do not take the time to learn what the options are on the best way to move forward in a stressful situation such as foreclosure.
I would like to add to the list of steps to take when facing foreclosure – contact an experienced Realtor! Along with a reputable lender, an experienced Realtor can help explain your options and guide you through the choice that is best for you.
For more information about Ludlow VT real estate, please call me today at 802-353-1983 or visit ISellVermontRealEstate.com, I would be happy to help you. You may also begin searching the MLS