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Displaying blog entries 141-150 of 150

CNNMoney.com, Mortgage rates see big drop

by Nancy Jenkins, CRB, CRS
Good news for mortgage rates…..CNNMoney.com is reporting long term rates have hit their lowest level since the beginning of the year. This brings the current 30 year fixed rate down to a 6.18% national average.
 
If you been on the fence about making a Vermont Real Estate purchase, this could be your opportunity. If so, give me a call, 802-846-4888.
 
-Nancy


Mortgage rates see big drop
Long term rates hit lowest level since first of the year; 30 year fixed hits 6.18%.

November 22 2006: 1:55 PM EST

NEWYORK (CNNMoney.com) -- Mortgage rates continued their downward slide reaching their lowest point since the first of the year on slower growth in the market, according to a survey released Wednesday.

The 30-year fixed-rate mortgage averaged 6.18 percent for the week ending Nov. 22, down from 6.24 percent, according to Freddie Mac's (Charts) Primary Mortgage Market Survey. A year ago, the 30-year averaged 6.28 percent. The 30-year peaked for the year in July, at 6.80 percent. (read more)

UVM Landscape Change Program

by Nancy Jenkins, CRB, CRS
Here is a website I recently discovered and found of interest, http://www.uvm.edu/perkins/landscape/. It is The University of Vermont's Landscape Change Program, an online archive of historic Vermont photos. Many of photos are from the 1800’s and compared side by side with photos from today.
 
One that I found particularly interesting is this 1859 photo of Burlington's City Hall Park taken from the Vermont House. It’s very interesting to see the changes that have taken place in the last 150 years.
 
I hope you enjoy this website as much as I did. If you find anything of particular interest please share by adding a comment at the end of this blog post.
 
-Nancy

ABCNews.com, Existing Home Sales, Prices Off in Sept.

by Nancy Jenkins, CRB, CRS

This AP article outlines the current National Real Estate trends. The market in Vermont is improving with the number of active homes going down.  The peak in Chittenden County was over 595 and now is down to 582, and dropping.  The numbers of deposits is in line with the 2004 statistics and are showing signs of improvement.  The number of showings and offers are up and the bonus is that the Federal Reserve Board did not raise interest rates on Thursday.

How would I view the Vermont Real estate market?  “It is like spring, you can feel the sun is warmer, you can smell it in the air but you still have some time to go before it stops snowing and really warms up”.

I was speaking with Allen Domb one of the nations foremost Realtors, he and other national realtors I polled agree that the change is happening and the last two weeks have been most telling.  As Linda Sandlin, Realtor from Marco Island Florida said, “Our market certainly dropped but I feel like it has hit bottom and is turning upward”.

I did find this quote quite interesting, and certainly do agree,

"The worst is behind us as far as a market correction this is likely the trough for sales," said David Lereah, the Realtors' chief economist. "When consumers recognize that home sales are stabilizing, we'll see the buyers who've been on the sidelines get back into the market."

Good signs for things to come.

-Nancy

Existing Home Sales, Prices Off in Sept.
Sales of Existing Homes Fall Yet Again in September; Median Sales Price Drops by Record Amount

By MARTIN CRUTSINGER

The National Association of Realtors reported Wednesday that home sales fell by 1.9 percent in September to a seasonally adjusted annual rate of 6.18 million units, the slowest pace since January 2004.

The median price of a single-family home fell to $219,800 last month, a drop of 2.5 percent from the price in September 2005. That was the biggest year-over-year price decline in records going back nearly four decades. Home prices had also fallen in August and it marked the first back-to-back declines in 16 years. (read more)

Inc.com, Best & Worst/ Governor Ratings

by Nancy Jenkins, CRB, CRS

I found a few articles on the Inc.com website that you will find interesting.

The first article rates the best and worst states in the country.  You'll be interested to know that Vermont was rated the best in school spending, $11,128 per pupil. To read more, click here.

The second article rates state Governor's. Vermont's Governor Jim Douglas was given a four star rating, the best mark available in this study. Governors were judged in several areas, including: tax and fiscal policy, work force and economic development, health care, education, and regulation. To read more, click here.

-Nancy

CNNMoney.com, Help! Home for sale

by Nancy Jenkins, CRB, CRS
Another good article from CNNMoney.com.

-Nancy

Help! Home for sale
Notes from all over on the difficulties of selling real estate.

By Les Christie, CNNMoney.com staff writer

NEW YORK (CNNMoney.com) -- Home price increases have slowed nationwide and even reversed in many markets. Inventories are up and new home builders are cutting back. More and more sellers are having difficulty selling their properties. 

We've profiled some of these sellers and that has produced a flood of reader emails from other troubled sellers.

Some are from homeowners who live in one-time red-hot markets who not too long ago watched their neighbors sell for huge gains.  (more)

Burlington No. 1 in country in business outlook

by Nancy Jenkins, CRB, CRS

This is a great article in The Burlington Free Press on the positive business vitality rating for Burlington which also mirrors the positive quality of life ratings of Burlington. As people find out what a great place to live and work the Burlington area is- and why our ratings are bucking the national trend of declining economic measures.

-Nancy

Burlington No. 1 in country in business outlook

Published: Monday, September 25, 2006
By John Briggs
Free Press Staff Writer

When Burlington puts $8.5 million in bonds on sale today, investor confidence in the city will be boosted by the metropolitan area's No. 1 ranking on a 2005 national assessment of business strength in 379 metropolitan areas.

"This is enormously beneficial," Chief Administrative Officer Jonathan Leopold said. "Businesses and institutions who use this kind of service find it very important. This makes our bonds very attractive to an investor."  Read More

In Weakening Market, Vermont Appreciation Still Above Average

by Nancy Jenkins, CRB, CRS

Here is an interesting report on housing appreciation in Vermont. It compares Vermont with national trends. This article is published with permission from the Vermont Property Owners Report.

-
Nancy

In Weakening Market,
Vermont Appreciation Still Above Average

Published by:
Vermont Property Owners Report
September 6, 2006

The Sept. 5 edition of the federal Housing Price Index reports that during the second quarter, existing homes in Vermont appreciated at a quarterly rate of 2.45% (or an annualized rate of 9.8%), well above the national quarterly appreciation rate of 1.17% (or an annualized rate of 4.68%). Quarterly appreciation in the
Burlington area (1.94% for the quarter, or 7.76% on an annualized basis) was lower than in the state as a whole.

 

Vermont was the only New England state to exceed the national average appreciation rate, according to the federal report. Maine and Massachusetts actually experienced negative appreciation during the second quarter. Whether below-average appreciation rates eventually turn up in Vermont as well remains to be seen.

 

Compared to a year earlier, the index showed that house prices had appreciated 10% on a national basis (11.28% in Vermont). A federal spokesman said the data showed that the housing market is cooling in a very significant way in almost every region of the country, but more strongly in areas that have recently seen very high appreciation rates.

 

The 10% national appreciation rate over the past year is based on mortgages for both actual sales and refinancing. When refinancings are dropped from the calculation and appreciation is based on just actual purchases ­ which we think may be more reflective of the market ­ the national appreciation rate over the past year drops to 8.27%.

 

Other recent data have also described a slowing real estate market in the U.S. These reports include:

 

  • The number of existing U.S. home sales in July was 4.1% lower than in June and 11.2% lower than a year ago, according to the National Association of Realtors (NAR). The median price of an existing home sold in the Northeast in July was 2.1% lower than a year earlier, the NAR said.
     
  • The NAR¹s Pending Home Sales index for July, based on the number of contracts signed in that month and thus a leading indicator for actual sales volume in later months, was down 7.0% from June, and was 16% lower than July 2005.
     
  • The pace of new single-family homes sales in July dipped 4.3% from June, and was down 21.6% from July 2005, according to the U.S. Commerce Department. On a year-to-date basis, actual new home sales were down 14.2% compared with the first seven months of 2005.
     
  • In Massachusetts, the number of single-family home sales in July was off 25.3% compared to a year earlier, while median house prices declined 3.5% over the year, according to the Massachusetts Association of Realtors. The volume of existing home sales in Massachusetts has decreased for nine of the last ten months.
     
  • Nationally, the inventory of properties for sale has risen from 2.7 million to 3.8 million over the past year, a 39.9% increase, according to the NAR.
     
  • Mortgage applications for home purchases fell in late August to their lowest level since 2003, according to the Mortgage Bankers Association. 

It's hard to find any bright spots for property owners in the current real estate picture, but we did find two: 1) mortgage interest rates have been dropping this summer, which might bring buyers off the sidelines and 2) the number of people using the Internet search term “homes for sale” has increased 42% over the past five weeks, according to CNBC, and in the past the trend of such queries has reportedly been a good predictor of sales of existing homes in the next month or two.

 

All rights reserved. Copyright 2006 by Vermont Property Publishing, Inc.

 

Vermont Property Owners Report

P.O. Box 1564

Montpelier, VT 05601

Phone: (802) 229-2433

Fax: (802) 229-0194

E-mail: phildodd@vermontproperty.com

Web: http://www.vermontproperty.com/

 

Vermont Property Owners Report is a 28-page bimonthly printed newsletter about Vermont and Vermont real estate.  We cover the real estate market, tax and legal issues, state news and practical advice for Vermont property owners and buyers. Subscription price is $49 per year, plus 6% sales tax if being sent to a Vermont address. To subscribe, or for more information, please call (802) 229-2433 or visit www.vermontproperty.com.

 

Article on Burlingtons Five Sisters Neighborhood

by Nancy Jenkins, CRB, CRS
We found an interesting article published by CottageLiving.com about Burlington's Five Sisters Neighborhood. The article covers some history, basic demographic information, and the neighborhoods sense of community. It is an interesting read.

-Nancy


Five Sisters, Burlington, Vermont
Creativity and a sharing spirit distinguish get-involved owners.

CNNMoney.com, Realtors slash home sales forecast

by Nancy Jenkins, CRB, CRS

Here is a great article.

-Nancy

Realtors slash home sales forecast


Potential buyers are waiting on the sidelines for better deals, real estate group says.

WASHINGTON (Reuters) -- Home sales will be a good deal weaker this year than earlier thought as potential buyers remain on the sidelines waiting for better deals, a national real estate group said Thursday.

The National Association of Realtors (NAR) said sales of existing homes were likely to drop 7.6 percent this year to 6.54 million. A month ago, the group thought existing homes sales would fall only 6.5 percent to 6.61 million.

Read More Here

Welcome to my updated website!

by Nancy Jenkins, CRB, CRS

Welcome to my updated website and the new Nancy Jenkins Vermont Real Estate weblog (blog). Please bear with us as we continue to make improvements to our new fully featured Vermont Real Estate portal!

 

You will see many enhancements over the next few weeks and constant updates to our content. I hope you enjoy your visit and will browse the homes I currently have listed for sale in Greater Burlington Vermont area.

 

It is our goal to be your Real Estate resource in the Greater Burlington Vermont area and we look forward to working with you buy or sell a home. Always know that we are here to answer your questions, if you would like immediate assistance, please call my office at 802-846-4888 or toll free 888-567-4049.

Displaying blog entries 141-150 of 150

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Nancy Jenkins
Nancy Jenkins Real Estate
140 Kennedy Drive, Suite 102
South Burlington VT 05403
802-846-4888
Fax: 802-846-4899