Monday, November 2, 2009

Update List of Vermont Foreclosures.

A bit overdue. Lots of new properties on the market and a few "oldie but goodies" hanging on!! I have separated out Chittenden County Listings, so there are two links below. All Properties Chittenden County only.

Happy shopping. Call or email with questions!! 802-238-0064


News from the Real Estate world

Well the Tax credit window has closed, and we are waiting to see what congress will do today. There is serious talk about a new $6,500 tax credit for NON first time buyers. The only condition that I am aware of is that you need to have been in your current residence for a minimum of five years. We will see if the FTHB credit is extended (rumor is contract by April 30th, Close by June 30th,) What new stimulus may be in store for the rest of us.

Also, I am going to get on my soapbox for a minute about Health Care reform. We are way beyond the curve with the dismal state of our current system. Please I beg you to take a stand and get on YOUR soapbox and DEMAND reform. I am talking about simply a fair equitable health care base to ensure that everyone gets basic care, and the right to a healthy life. A plan that does not allow people to lose their life savings when they get sick. That allows young couples to have care for their pre-born and new born children. A plan that allows for prevention, testing and affordable medicine. Take the power away from big business who is withholding this from us, and put it in the hands of the health care providers so they can administer care NOT BILLING.

We are a rich and intelligent nation. We are entitled to an education in this country, to a fire department to save our home when it is attacked by firre, and a police officer to respond when we are threatened by criminals or speeders who put our life in jeopardy. Why are we not entitled to care when we are attacked by viruses, and debillitated by disease? The American dream is more than owning a home. DEMAND it, speak up and make your legislators heed your call!!

Thursday, September 3, 2009

Only 45 Shopping days left!!

The First-Time Home-Buyer tax credit expires on November 30th. Which means that you need to close on a house by November 30th to be eligible for the credit. If you figure backwards, you really need to be under contract by Oct 15th. For more details on the Credit, look below for a full accounting of who is eligible, and how the program works. For more info, Give me a call or shoot me an email. Times wasting!! It is definitely, time to buy!!

Latest Foreclosure List

If you have trouble viewing this link, please email me at and I will send you the list as a PDF.

Happy Shopping. And call anytime with questions. Lora

Monday, July 27, 2009

Most Recent List of Vermont Foreclosures.

Please let me know if you have trouble accessing this link.

The Dust is Settling

It seems like we have gotten a lot of the kinks out of things lately and we are beginning to chug along "business as usual." Now things are quite old School, for example, underwriting rules are once again the sound practices of "pre-bubble" lending, prices are about the same as they were back then too (unfortunately.) But it feels good to be selling REAL estate, and not "Inflated Estate."

Seems like Vermont Foreclosures settled down for a bit, and now we are seeing a bit of activity again. I think the lull had to do with the Feds moratorium, coupled with banks frantic reaction to the the Home Valuation Code of Conduct ("HVCC") which took effect May 1st 2009.

So normal is good. I have attached here an amazing article which I highly recommend reading about the last few "bubbles" how they happened, and what the fall out has been.

It credits Goldman Sachs for a good deal of the mess, and the article is compelling in that regard. In any case, still a great time to buy. ONLY 90 days left to get under contract in time to enjoy the $8,000 tax credit. What are you waiting for?

Wednesday, May 27, 2009

Recent Active Foreclosures Listings

Here is an updated Vermont Foreclosure list.

Also check out this great affordable South Burlington Condo Listed for $159,900

Mortgage Backlash

Well, we have great home prices, we have great interest rates, AND we have the $8,000 first-time home buyers tax credit- read below for details. This has been noted as the most affordable time to buy a home since they started tracking home sales (whoever they are.) Seems like a pretty good time to buy huh? Well it is BUT you need a whole new measure of patience thanks to the banking industry.

We are advising buyers to put close dates that are 6 to 8 weeks from date of contract to compensate for the minutia scrutiny that lenders are engaging in. Plan to disclose every tidbit of your financial, work, personal and maybe sex life (don't be surprised.) This is the other end of the "no doc" pendulum and we are as high as the back seats on the upswing of the Ship ride at the fair. It is a circus.

So buy a house NOW while the market is still good. Then call your accountant, your HR Director, your children's teachers, your therapist, and your gardner (we may need some info from him or her to) and let them know you are buying a house, and they should free up their schedules to accommodate your lenders "need to know." If you keep a realistic attitude, and come to the party prepared, you will be fine. Check out the latest list of Foreclosures above.

Keep the faith.

Monday, March 23, 2009

Updated Foreclosure List

Click on the link below for the most current list of Vermont Foreclosures.

There are 32 Active foreclosure listings which I think is the most in my memory. Please let me know if you want more information on any of these, or if you want to get inside any.

Also, check out my new website at and search for Vermont Properties using Vermont's ONLY Real Estate Search Engine -Powered by Google.

Tuesday, March 17, 2009

Search Vermont Real Estate Listings.

Check out My New Website You can search for Vermont Properties using Vermont's ONLY Google powered Search Engine.

Read below for a comprehensive look at the New $8,000 First-Time Home-buyer Tax credit!

Thursday, February 26, 2009

Happy Days are Here Again, $8,000 Home Buyer Tax Credit

Here is info on the new “American Recovery and Reinvestment Act of 2009” First-time home-buyer tax incentive. Call me if you have questions.

A CONSUMER GUIDE TO THE FIRST-TIME HOMEBUYER FEDERAL INCOME TAX CREDIT As Modified in the American Recovery and Reinvestment Act February 2009



Amount of Credit

The amount of the homebuyer federal income tax credit

is the lesser of 10% of the cost of the home bought or $8,000.

Eligible Property

Any single-family residence (including a condo, co-op, or townhouse) may be an eligible property under the homebuyer income tax credit,

provided it will be used as the homebuyer’s principal residence.


This homebuyer income tax credit reduces income tax liability. The $8,000 tax credit is a clean refundable credit, unlike the one that was passed last summer, which required a repayment. If you qualify as a first-time buyer (i.e., haven't been a homeowner in the past 3 years), then you can claim the $8,000 to reduce your tax burden. If the $8,000 is greater than the tax you owe, then you will get a refund check for the difference. Example: you owe $2,000 in taxes on April 15, 2010. But if you bought a home before the stimulus expiration on Dec. 1, 2009,

then you will get a tax refund check for $6,000 from the IRS.*

Income Limit

In order to be eligible for the homebuyer income tax credit in full, the homebuyer can have an annual adjusted gross income of no more than $75,000 ($150,000 on a joint return). A homebuyer with an annual adjusted gross income above that level and up to $95,000

($170,000 on a joint return) is eligible for a reduced tax credit.
First-time Homebuyer Only

The homebuyer income tax credit is designed for first-time homebuyers, which means the homebuyer (and/or the homebuyer’s spouse) can not have owned a principal residence in the 3 years prior to purchase of the eligible property.
Revenue Bond Financing

A homebuyer who utilizes revenue bond financing

may be eligible for the homebuyer income tax credit.

Repayment and Recapture

There is no repayment of the homebuyer income tax credit by the homebuyer. However, if the eligible property is resold within three years of purchase, the entire amount of homebuyer income tax credit is recaptured on the sale.

Effective Date

The First-Time Homebuyer Federal Income Tax Credit is effective for purchases on or after January 1, 2009 and before December 1, 2009. This guide reflects a modification from the First-Time Homebuyer Federal Income Tax Credit, which remains in effect for homes purchased by eligible homebuyers between April 9, 2008 and Dec. 31, 2008.

* Seek advice from a professional tax advisor for specific tax calculations and timing for claiming the tax credit.

SOURCE: Based on information provided by the National Association of Realtors. For modifications from prior tax credit announced in April 2008, click here.

Friday, February 20, 2009

What's Hot?

I don't think anyone would disagree that 2004, 2005 and 2006 were hot sellers markets. Prices were at all time highs, and properties were selling like crazy. Multiple offers and sales over-asking-price were not uncommon. Well NOW, Vermont's sales market is undeniably a HOT buyers market in 2009. Prices have come down and buyers are out in droves. Well-priced listings are selling in record time, and multiple offers over asking price are not uncommon again.

Buyers have everything to their advantage. First low interest rates even below 5% at times. Secondly, low prices - housing prices have come down an average of about 15% in Northwest and central Vermont. Next, banks are willing to deal on foreclosure properties and short sales, and there are plenty. AND lastly, the new tax credit offers up to $8,000 to first-time home-buyers. This all takes home-buying to a whole new level! It is the perfect buying climate. Some may argue THE BEST TIME EVER to buy a house. Of course that is assuming that a few general conditions exist. You have to have a job, a little money in the bank, and a good credit score. Just like the good old days of 2002 and before.

If you meet the conditions above, you should be looking to buy. If you are a first time home buyer, (you or your spouse have not owned a home in the past three years,) you have no choice but to buy. The government will give you $8,000 to buy a home. There is talk that you may be able to use the credit towards your down payment!! Now that is hot!!

Here is a link to Vermont's latest foreclosures. Call or email me for more info on any of these listing or to learn more about the new tax credit.

Current Vermont Foreclosures.

Sunday, January 25, 2009

Wow - What a Market

I am blown away by how good things are in the Vermont Real Estate Market. Specializing in Foreclosure sales gives me a unique experience of working in many markets in many price ranges. Right now, in January 2009, I am finding perhaps the best real estate market I have seen in the pst 6 years that I have been in real estate sales.

Houses are selling and buyers are everywhere. It appears that the confluence of decreased home values, great interest rates and a distrust in the stock market has brought buyers back in force. It certainly hasn't hurt that Vermont (Burlington specifically) has been named as a Real Estate "safe haven" as well.

So here is what I have found. If you purchased a home in 2005-2008 you are best to hang on to your home. In most cases, it is best to hang onto a home for a minimum of 5 years to see a return on your investment anyway, so that really is not much of a change. But if you bought your house any time prior to that, you should see a reasonable return on a sale in this market. UNLESS, you have leveraged your equity during 2005-2006 when home prices were unnaturally inflated. In this case, you will still see a return from purchase price, but you could owe more that your home is currently worth.

Also, the massive dysfunction in the mortgage practices in 2005-2007, created an increase in "unnatural" buyers driving home prices up. Now that those buyers are out of the market, (and many are now out of their homes too,) home prices are back to experiencing normal growth as opposed to the crazy increases we saw during those years.

If you can buy - meaning you have 5-20% to put down, have good credit scores, and decent income, now is the time to buy. If you bought or refinanced between 2005-2008 hang on to your home if you can. At least until spring. Unless we have another "shoe drop" (lay offs, business closings, national or natural diaster) I predict an upswing in the market. But what do I know! Meanwhile, buy a foreclosure. Now is the time!!