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Vermont Real Estate Report - July 2012

by Nancy Jenkins, CRB, CRS

If ever there is a time to jump into the housing market, it is now. Prices and rates are the best we have seen in years. The number of deposits and closings are up for the first half of the year. In Chittenden County the number of closed single-family homes is up 24% over last year and closed condominiums are up 25%, both very strong indicators that the market is improving.

Our home supply is starting to shrink. We have only 663 single-family homes available in Chittenden County, which is the lowest level of inventory since 2007. Condo inventory is currently at 248, and we are seeing the average sale price inching up as the available inventory declines. If you are thinking that this is your year for a move, call us now, as this is the best market we have seen since 2007.

Summer in Vermont has so many opportunities. Take a sunset cruise on The Spirit of Ethan Allen, visit one of our many State Parks, or perhaps take a day hike on the Long Trail. Enjoy the beaches on Lake Champlain for swimming, boating, or kayaking. Support your local Farmers Market, where you can meet the people who grow the vegetables, fruit, and meat that grow our local economy.

This is the 15th year we have awarded the Nancy Jenkins Scholarship, which provides $1,000 in tuition support for two college-bound high school seniors. We were delighted to receive a record number of applications, all from teens showing a terrific determination to succeed in their life goals. Congratulations to our 2012 Winners: Joshua Dyke of Essex Junction and Beatriz Urrutia of Shelburne.


Joshua Dyke

Beatriz Urrutia


If this is your year for a move, call now! I look forward to helping you achieve your dreams.

This month, we are featuring two local Vermont businesses. Our friends at Encore Repurposed Furniture & Collectibles, in Ferrisburg, is giving away a Decorative Outdoor Metal Bird Hanger ($55 Value). The Catamount Family Center is offering 2 for 1 Area Use for hiking, riding, and running through Oct 1. 

Why It Pays to Set a Realistic Price for Your Home, from Day One

by Nancy Jenkins, CRB, CRS

In her latest article Cynthia Anderson, of the Herald Tribune, explains why pricing is still the key to successful real estate transactions.

She writes, "Never simple, the philosophy — and the psychology — of home pricing has grown ever more nuanced as markets drop and edge back up, then stabilize, only to dip again."

While most Realtors agree that price trumps other salability factors, such as condition and marketing, setting the true value of a house can prove challenging, especially in this market. This is why it is critical that homeowners committed to selling their property set a realistic price from the beginning.

Those of you who have sold your home with me and my team will recognize my "Is Your Price ON TARGET?" bulls-eye, which helps sellers use real-life data like their number of showings to date and number of offers to set and adjust their home price.

Click here to read Anderson's full article, "Setting a Listing Amount Is the Key to the Deal."

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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