Real Estate Information Archive


Displaying blog entries 131-140 of 156, Vermont in a "short and shallow" recession

by Nancy Jenkins, CRB, CRS
There is an article in the Friday May 30th Burlington Free Press that predicts a short and shallow falloff in the Vermont Economy. Much has been reported on whether or not we are or are not in a recession- the dreaded "R" word. A recession is defined as two consecutive quarters of negative growth, and some are longer and deeper than others. It is good news that Jeff Carr is reporting on our first since 2001 that it should be short. 

Vermont in a "short and shallow" recession
By Dan McLean • Free Press Staff Writer • May 30, 2008

For the first time since late 2001, the state's economist will tell his regional counterparts today that Vermont is in a recession.

Jeff Carr, economic consultant to the Douglas administration and president of Economic & Policy Resources in Williston, said the recession is "short and shallow." He said he expects Vermont to begin to recover by the last three months of this year.

The economy will rebound relatively quickly because of the strength of the global economy, the financial health of the business sector and "the unprecedented engagement of U.S. monetary and fiscal policy," according to the "Vermont Economic Outlook" which Carr will present at the Federal Reserve Bank of Boston today.

The report, which Carr wrote with Zachary Sears, routinely refers to Vermont's economy as "sluggish" and "stalled."

Job growth for 2008 is projected to decline in Vermont by 0.6 percent -- worse than that of New England or the United States, which showed flat to minimal growth, the report said. (more)

[Updated] Vermont Foreclosures down 50% in January!

by Nancy Jenkins, CRB, CRS
Vermont Foreclosures down 50% in January!

That is actually not the headline on which is "January Foreclosures up 57%" so what is the real story and how does it affect Burlington VT and the local real estate market? Sure, the housing numbers for the US are down from the peak, however we are not experiencing the wave of foreclosures found in states like California, and Florida where the market was according to reports "overvalued".
In January 2007 there was a grand total of two foreclosure filings in the entire state, according to the article. This year the number of foreclosure filings plummeted 50% to a grand total of one foreclosure filing in Vermont. Our market is healthy, with an ample supply of well priced homes ready to buy, and interest rates that make homes today more affordable than any time in the past four years. We are not experiencing the national trend because Vermont is a conservative state, and we had the lowest exposure to the loans which are causing buyers to default in other areas.
Can you time the bottom of the market? Historically that has not been proven to be possible, either in the real estate market  or the stock market. Both have ups and downs and over time they have both proven to be great investments for the savvy investor. My team and I are here to answer your questions about the Vermont Real Estate Market. Now is a great time to invest in Vermont Real Estate.  
-Nancy Jenkins

January foreclosures up 57%

Filings saw yet another big jump last month, compared to levels a year ago; 45,327 homes were lost to bank repossessions.

By Les Christie, staff writer
Vt. foreclosures jump 23 percent

February 17, 2008

Vermont recorded 1,209 foreclosures in 2007, a jump of nearly 23 percent from the previous year when 937 foreclosures were recorded, according to state and local data.

Chittenden County, the state's most populous county, had 179 foreclosures last year, the highest in the state followed by Rutland County with 163, according to the Department of Banking, Insurance, Securities and Health Care Administration.

Foreclosure data includes both residential and commercial property. (more)

There was a story run in the December 16th Burlington Free Press on the national real estate market’s media coverage, you may find interesting.
On this same topic, I received an email from a buyer asking if housing prices in Vermont were really going to drop 30% in 2008. What he was referring to was a recent headline posted by Reuters on two markets- Punta Gorda, FL and Stockton, CA, which were the only two cities mentioned. My advice to sellers has always been that you buy and sell a home in the same market. It has never been a good strategy to try to time the market. Now is a great time to invest in Vermont real estate. 
Vermont's real-estate picture stays ahead of rising foreclosure trend

Published: Sunday, December 16, 2007
By Dan McLean
Free Press Staff Writer

Mark Chaffee, vice president of Mortgage Financial Inc. in Colchester, said he's getting frustrated with national reports of a disintegrating housing market.

"I see, in my business, that people are nervous. And they are nervous because the national press is telling them the sky is falling," he said, later adding, "I get very frustrated because it's misleading to my clients." (read more), Old maps hold value in real estate

by Nancy Jenkins, CRB, CRS
According to the Burlington Free Press, the state of Vermont has started making official maps and plotting plans available on digital files. In fact, much of the Vermont State Archives is being converted to modern digital use. This will have a positive impact on the real estate industry, which relies on accurate boundary lines to properly transfer homesteads and land parcels. No longer will the Joneses and the Smiths need comb through dusty old land records to find out whose side of the boundary line their favorite apple tree is on. It will soon be on digital records, easily available to the public.

Old maps hold value in real estate

Published: Monday, November 26, 2007
By Wilson Ring
The Associated Press

MONTPELIER -- It the mid-18th century, teams of men spread out across Vermont to map the tractless wilderness.

Measuring with long chains and other primitive equipment, they climbed mountains, forded rivers and slogged through swamps, dividing Vermont into 251 towns and then dividing the towns into lots.

Two and a half centuries later, those maps and their lotting plans remain valuable frames of reference for 21st century real estate deals. Many have disappeared or been hidden away in dusty vaults in town clerks' offices from Massachusetts to Quebec. (more), Vermont ranked #1 in health

by Nancy Jenkins, CRB, CRS

Vermonters rank as the nation’s healthiest, according to an article in today’s Burlington Free Press. Vermonters have long prided themselves as an active, outdoorsy bunch, who might be as easily found scaling a 1,800 ft cliff-side as sipping free coffee in a local rest stop. This new distinction of ‘Healthiest Americans,’ which adds much to the treasured Vermont mystique, comes as the result of the state's long-term, coordinated efforts in the areas of prenatal care, pediatric care, treatment of chronic diseases, cigarette smoking, and teen pregnancy.  


Vermont ranked #1 in health

Published: Tuesday, November 6, 2007
By Terri Hallenbeck
Free Press Staff Writer

Vermonters have a healthier way about them than anybody else in the country, a national health group declared Monday in boosting the state's health ranking from second last year to first in the nation.

Some 20 factors added up to Vermont's place on the top of the heap for the first time, including a relatively low percentage of people who smoke, are obese and live in poverty. Couple that with the state's high percentage of people who graduate from high school, have access to health insurance and obtain prenatal care, and Vermont topped the list.  (read more), There are some ways to sell your home quickly

by Nancy Jenkins, CRB, CRS
The Burlington Free Press just published an article that provides some helpful tips for getting your home sold quickly. They side column also has some great points for easing the stress of a move. The article as a whole is a good read, some key points to note are; Think like buyers, Price is critical, Curb appeal and Pets, lighting, bathrooms and smells.

There are some ways to sell your home quickly

Published: Wednesday, September 12, 2007
By Michael Perrault
Gannett News Service

There are plenty of houses for sale, and they are not moving nearly as quickly as they did during the dot-com boom of 1995-2001. So if you want your house to sell and not sit, here are some tips to consider:

Think like buyers.

“Sellers should view their home from the buyer’s perspective as if they are in the market to buy a home right now,” recommends Carlo Lombardelli, broker associate with Re/Max Real Estate Consultants in Palm Desert, Calif. “That gives sellers a clearer picture as to how their home would compete against the other active homes in the area and in their price range.” (read more), Mortgage payments hit hard

by Nancy Jenkins, CRB, CRS
The news of late is all about subprime loans, foreclosures and what the effect will be on the Vermont real estate market. The Sunday issue of the Burlington Free Press had an article which said foreclosures are on the rise, mostly due to an increase in defaults in higher risk subprime loans. What are subprime loans, and why should we care here in Burlington?
Simply put, subprime loans are offered to borrowers who may not fit a conventional financing product most buyers use. They may have some credit issues, or maybe income that is not acceptable for conventional loans. The mortgage loan closes at a higher rate (typically 2-4% above conventional rates) and are usually adjustable rate loans. When the loan adjusts, the borrowers payment increases significantly, and can result in difficulty making the increased mortgage.
Vermont has one of the lowest percentages of suprime loans versus conventional in the nation per CNN Money. An increase in foreclosure filings does not necessarily mean an increase in foreclosed homes, which remains to be seen. Stay tuned.
Mortgage payments hit hard

Published: Sunday, March 25, 2007
By Dan McLean
Free Press Staff Writer

Late mortgage bills are stacking up in an increasing number of Vermont households.

Foreclosures in Chittenden County -- where last year's median-priced home cost $269,900, nearly $64,000 more than the median-priced Vermont home -- jumped 37 percent from 2005 to 2006.

There were 158 foreclosures filed with Chittenden Superior Court in 2006, the highest number filed in Chittenden County since at least 1997, according to County Clerk Diane Lavallee. In January and February, there were 29 additional foreclosure filings, she said. If that pace continues, there will be 174 foreclosures in the county this year. (read more)
I just received an important message from VHFA (Vermont Housing Finance Agency) and wanted to pass the information on to you.
This exception is available for a limited time only.
The five counties that Borrowers are required to be a first-time buyer or not have owned a home in the past three years are: Addison, Bennington, Chittenden (Census tract 4 is exempt) Grand Isle and Windsor.
To be eligible, the Borrower must meet the veteran status as defined in 38 United States Code, Section 101. The Borrower must have served in the military, naval or air service and been discharged or released under conditions other than dishonorable or re-enlisted.
For more information contact a VHFA Participating Lender. You will find a list of VHFA Participating Lenders on our web site at under the "Homebuyers/owners" button.
Burlington Free Press reports on an article in Country Homes Magazine, that Burlington Vermont is the nations most eco-friendly city. The report used data from U.S. Census Bureau, the U.S. Department of Transportation, the U.S. Department of Agriculture, the U.S. Environmental Protection Agency, the U.S. Green Building Council, and more.  They rated environmental issues such as the use of mass transit, air and watershed qualities, organic farmers and farmers markets. Country Homes magazine has a circulation of over million, so it’s wonderful to see our little city get this great national exposure.

Burlington is nation's most eco-friendly city, magazine says
Published: Thursday, March 8, 2007
By John Curran

The city that has been named among the nation's safest, fittest and most livable has a new claim to fame -- America's most eco-friendly place.

So says Country Home magazine, which ranked Burlington tops among 379 metropolitan areas in a "Best Green Places" survey that rated cities based on air and watershed quality, mass transit use, power use and number of organic producers and farmers' markets. (read more), Housing in Vermont becomes less affordable

by Nancy Jenkins, CRB, CRS
Today’s Burlington Free Press features an article on housing affordability in Vermont with our clients who have a home under deposit. The article examines the current condition of affordability and how it has compared to past years. I’m also quoted in the article saying, “Starter condominiums ranging from $120,000 to $200,000 in ChittendenCounty are options for first-time buyers”
Housing in Vermont becomes less affordable

Published: Thursday, March 1, 2007
By Dan
Free Press Staff Writer

ESSEX -- Darlene Kelleher and her husband, Pat, described their housing search Wednesday afternoon as they sat around the kitchen table in her parents'
Essex home.

The couple is house hunting in
ChittendenCounty during the least affordable time to buy a home since at least 1994, according to Stephen Allen, a principal at Allen & Brooks, a real estate analyst firm in South Burlington. "That's pretty dramatic," he said. (read more)

Displaying blog entries 131-140 of 156




Contact Information

Photo of Nancy Jenkins Real Estate
Nancy Jenkins
Nancy Jenkins Real Estate
140 Kennedy Drive, Suite 102
South Burlington VT 05403
Fax: 802-846-4899