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Nancy Jenkins Blogs Vermont

Nancy Jenkins, CRB, CRS


Displaying blog entries 121-130 of 151

Vermont DPS Updates Smoke Detector Laws January 1, 2009

by Nancy Jenkins, CRB, CRS

As of January 1, 2009 Vermont’s smoke detector laws have changed. All homes sold after January 1st are required to have Photoelectric Alarms. The State of Vermont Division of Public Safely has put together this handy fact sheet outlining the new requirements. For additional information, visit their website, here.


-Nancy; Mortgage rates dip to new all-time low

by Nancy Jenkins, CRB, CRS
Thirty year fixed rates are at historic lows, the lowest since Freddie Mac started its survey in 1971. Fifteen year fixed rates are the lowest we have seen since June 2003.  What does that mean to the local market? Since our market has fallen to prices we have not seen in several years, the affordability of homes and condos has improved dramatically in the past few weeks. When rates start to fall, mortgage payments decline and buyers can afford a larger mortgage for the same monthly payment. Usually when mortgage payments fall to these low levels, it can signal the bottom of a real estate market. With a great selection of homes available now, we are here to help you with your home purchase. Call Nancy Jenkins Team at 802-846-4888. 

Mortgage rates dip to new all-time low

The 30 year fixed rate fell to 5.01%, its lowest level since Freddie Mac started conducting its survey in 1971.

By Larissa Padden, CNNMoney contributor
Last Updated: January 8, 2009: 11:32 AM ETNEW YORK  ( -- Mortgage rates fell to another all-time low, declining for the tenth consecutive week.

Government sponsored mortgage lender Freddie Mac said Thursday that fixed rates on 30-year mortgages averaged 5.01% for the week ending Jan. 8th. That's down from 5.10% last week and well below 5.87%, which is where the rate stood at this time last year.

The 30-year fixed rate mortgage has not been lower since Freddie Mac started conducting the survey in 1971. (read more)

Prudential Realty Mart earns $1,000 for the Boys and Girls Club of Burlington

by Nancy Jenkins, CRB, CRS

We are pleased to report that through our volunteer efforts we have earned a $1,000 challenge grant from The Prudential Foundation for the Boys and Girls Club of Burlington.


December 22, 2008

Ms. Mary Alice McKenzie
Boys and Girls Club of Burlington Inc.
62 Oak Street
Burlington, VT 05401

Dear Ms. McKenzie:

On behalf of Nancy Jenkins and the Prudential volunteer team, The Prudential Foundation is pleased to present a $1,000 grant to the Boys and Girls Club of Burlington Inc.

This year, 30,000 volunteers worked on 800 projects in 12 countries. To date, 2,310 projects have earned Challenge Grants totaling more than $2.3 million to partner organizations.

The dedication, creativity and leadership of our volunteers have made Prudential's Global Volunteer Day program an extraordinarily impactful community service initiative. For the past fourteen years, our volunteers have worked with organizations like yours to help address the most pressing needs in our communities.

We are proud of our partnership with the Boys and Girls Club of Burlington Inc. and wish you continued success. Congratulations on being a recipient of a 2008 challenge grant.


Gabriella E. Morris
President, The Prudential Foundation, New Website Launched to Promote Healthy Homeownership

by Nancy Jenkins, CRB, CRS

This week The Department of Housing and Urban Development (HUD) launched a new website called My Money, My Home, My Future. This site is designed to help American's achieve financial security. It aims to do this by raising financial literacy awareness and by promoting healthy homeownership. I found the website to be very helpful and informative.


My Money, My Home, My Future

WASHINGTON - The U.S. Department of Housing and Urban Development today launched a new, comprehensive website to assist Americans with improving financial literacy, sustaining healthy homeownership and achieving financial security.  The My Money, My Home, My Future website provides a range of interactive resources to inform users about the importance of financial literacy, including a Self-Assessment Tool, online games and informative classes.

"It is imperative that Americans are better educated about their finances and understand what it takes to be a responsible homeowner," said HUD Secretary Steve Preston.  "The resources on the website allow families to plan ahead to make smart choices about their finances and homebuying decisions." (more); It May Be Time to Think About Buying a House

by Nancy Jenkins, CRB, CRS

I thought some of our visitors would be interested in this article.

It May Be Time to Think About Buying a House
By Ron Lieber
Published: December 5, 2008

Five or 10 years from now, when the financial crisis has ended and housing prices are up smartly once more, we will look in the rearview mirror and realize that we missed a golden age for first-time home buyers.

Then, everyone who sat on their down payment savings accounts for a few years too long will kick themselves for not taking advantage of what may turn out to be the buying opportunity of a lifetime for those who can qualify for a mortgage.

Unfortunately, we do not know when this golden age will begin, because we will be able to identify a bottom to the housing market only with the benefit of hindsight. But as it does with the stock market, the moment will probably arrive when everyone is feeling the most pessimistic. (more), 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)

Displaying blog entries 121-130 of 151




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