Real Estate Market

October 2018

October has begun and the foliage is popping into full color. The pumpkin patches and farmers markets are in full swing and we are enjoying the wonderful harvest produce. We know that the fall season is a perfect time for tourists to visit our amazing foliage. It is also an opportunity for us to take a tour of our own beautiful state and pretend to be tourists for a few days. One of my favorite drives is out through Underhill on Pleasant Valley Road through the Notch or try south through Hinesburg on Route 116 to Route 17 in Bristol and Lincoln Gap.
I am proud to be part of the Real Estate Vision group that held their conference here in Burlington in 2014. I have been attending an annual conference with this group since 1993 and this year we met in Baltimore at the end of September. Over 400 top agents from the US and Canada meet to share methods, innovation and Real Estate information.
The markets across the nation are experiencing the same conditions we are experiencing here in Vermont. Inventory has decreased over the last few years. Many of the major markets and resort markets have been experiencing high appreciation and incredible sales volume. They are seeing a slowdown in their markets with the number of multiple offers and appreciation has tracked at a slower rate. The national news is reporting a slowdown this year in pending existing homes.
In Vermont we have not experienced a fast rise in prices and sales and have been on a steady pace for the last 3 years, with 1258 single family homes closed in Chittenden County last year. I expect the coming months to be healthy for Real Estate with mortgage rates in the 4.75% range, stable home prices and business relocation moves picking up for the 2019 fiscal year.
The late fall through the early winter market is historically a slower time of the year for real estate sales. However, there are serious buyers that have a true need for a home, land for a new home to be built or a desire to pick up investment properties for tax benefits by the end of the year. Single family homes, condominiums or multifamily homes are all attractive investment vehicles. If you are thinking of selling an investment property, let us help you go over your options including a 1031 exchange to defer taxes on your sale.
Here at the Nancy Jenkins Team, we have closed or pended over 170 properties through early October and are looking forward to a strong finish to 2018.
If this is your time for a move call us today.


This Month's Coupon to Full Spectrum Salon!


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CLIENT TESTIMONIAL and THANK YOU'S

"We loved working with Patti who is a super responsive and knowledgeable agent for NJ. She was very patient and accommodating as we searched properties and was always willing to show us any home we wanted. Her expertise definitely guided us away from a few properties that didn’t make sense to us, even if we initially offer."
- Mark Labus September 20, 2018

 

Special Thanks to Friends Who Sent Us Their Friends:

Andy & Hannah Christiansen, James & Christina Brent, Jen Browe, Dan & Mary Brooks & Cheryl Kail, Angela Arsenault & Ryan Bralich

©2018 Nancy Jenkins Real Estate

 

 

Contact Information

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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