June 6th, 2011 Updated Vermont Foreclosure List

Check out the new updated Vermont foreclosure list at www.justlistedinburlington.com and scroll down from the main page and you will see the link!

May 24th Updated Foreclosure List

49 Foreclosure listings. There seems to be fewer and fewer each month as expected. Seems to still be quite a few short sales on the market. If you have interest in any of these properties or a short sale contact me easily at 802-238-0064.

Okay so maybe I was wrong!!!

Well Here is the latest Foreclosure List for the state.

http://www.vreinmls.com/ver/maildoc/a004ew1689.html All Vermont

http://www.vreinmls.com/ver/maildoc/a000sm8550.html Chitteden County

At this point there are 50 foreclosure properties for sale, up 30% from last check!! My prediction has been that Vermont foreclosures are on the decline. I still believe that I am correct, but only time will tell, There are two links here. the first is ALL Vermont, and the other is Chittenden County and surrounding for my local area visitors. They are sorted by town, with Multi families at the end. Send a note, or call if you want to get inside any of them!! 802-238-0064 loravtrealtor@gmail.com

Happy Spring!!

The Beginning of Getting Back to Normal

Well as I expected, there are fewer properties now than there were at my last post. They have gone from 50 to 43 or almost 15% less. I am not surprised as I have predictd that the Vermont foreclosures would decrease in numbers before the rest of the country. Pre-Bubble numbers were about 15 to 20 on the market at any given time and fewer still around 2002-2003. So I think we are heading in the right direction. In any case, here is a list of the newest foreclosures. I recognize that these links don't last forever, so if you give it a try and it does not work, just call or email me, and I will send you the updated list.

http://www.vreinmls.com/ver/maildoc/d002Yw4171.html - All Vermont Foreclosures

http://www.vreinmls.com/ver/maildoc/a0007U5792.html - All Chittenden and Area Foreclosures

I am always available to explore the prospect of buying a home, or...staying out of foreclosure.

Updated Foreclosure list 1-18-2010

Well 50 Foreclosures currently on the market in Vermont. More than I would like to see at this point. Seems like we should be past the top of the bell curve, and the foreclosure inventory should begin to see a decrease. Not really the case though as far as i can see. I will count again in 30 days. Click on the link. It should sort by town. Scroll down to find the towns that interest you. Thanks for visiting my blog!! Call if any of the properties interest you!!!

http://www.vreinmls.com/ver/maildoc/a0001t1117.html

WOW a Great New Year

Well, a lot has changed since my last post. What you care about is the state of the local Real Estate market. As far as that is concerned, the market has really seemed to stablize. We are way up over last year at this time. November was an incredible month as all of the first-time homebuyers scurried to close by the November 30th deadline. December was slower but still over last year. Keep in mind that last year third quarter was a dismal mess on the heels of the banking crisis and failure of Lehman Brothers, AIG and other major financial institutions.

Seems like we are starting this year with cautious optimism. A variety of new lending regulations have taken effect and we will see what the fall out of those will be, but I think after a brief adjustment, we will see more lending options. Prices no longer appear to be going down, and the NEW Home-Buying incentive as well as the extension of the First-Time Home-buyer Credit, gives us hope for a robust 2010. I no longer hear the financial analysts talking unequivocally about the "second dip" that many are/were predicting. Vermont has lower than average unemployment, so we shoud be good.

The only downside is the temporary loss of 100's of Guard members recently deployed to Afghanistan. These folks are out of the market, not to mention in harms way. SInce this has been the biggest deployment since WWII, we will certainly feel both the emotional and financial loss of these men and women.

The foreclosure market is beginning to wind down now in the state and nationally. There is a glut of back logged inventory that will be coming up over the next few months, but many of those will be in such a grievous state of disrepair that they are only good for the investor/builder. I will post the latest list shortly. Email or reply to this post if you would like to comment, question or disagree. I invite your thoughts.

As for me, I have embarked on a new endeavour with my husband and some wonderful partners. We are opening a Keller Williams office in Chittenden County. More news to come. Contact me anytime. 802-328-0064

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.

http://www.vreinmls.com/ver/maildoc/b002GR6751.html All Properties

http://www.vreinmls.com/ver/maildoc/a006DM6380.html Chittenden County only.

Happy shopping. Call or email with questions!! 802-238-0064 loravtrealtor@gmail.com

Lora.

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!!

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 lora@c21jack.com and I will send you the list as a PDF.

http://www.vreinmls.com/ver/maildoc/a000iH9429.html

Happy Shopping. And call anytime with questions. Lora

Most Recent List of Vermont Foreclosures.

Please let me know if you have trouble accessing this link. lorawilson@c21jack.com

http://www.vreinmls.com/ver/maildoc/c0067C2788.html

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.

http://www.rollingstone.com/politics/story/29127316/the_great_american_bubble_machine/print

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?

Recent Active Foreclosures Listings

Here is an updated Vermont Foreclosure list.

http://www.vreinmls.com/ver/maildoc/c006tx3314.html

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

www.c21jack.info/mls/2903790

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.

Updated Foreclosure List

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

http://www.vreinmls.com/ver/maildoc/a006XZ6845.html

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 www.LoraWilson.com and search for Vermont Properties using Vermont's ONLY Real Estate Search Engine -Powered by Google.

Search Vermont Real Estate Listings.

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

www.LoraWilson.com

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

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


FIRST-TIME HOMEBUYER FEDERAL INCOME TAX CREDIT:
EFFECTIVE FOR PURCHASES ON OR AFTER JANUARY 1, 2009

AND BEFORE DECEMBER 1, 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.

Refundable

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.

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. http://www.vreinmls.com/ver/maildoc/a004uV6375.html

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!!

Most recent list of Vermont Foreclosures

This list has most but not all Foreclosures currently for sale. Keep in mind, it changes daily. If you have any trouble with this list or need more info, you can reach me at lorawilson@c21jack.com.

http://www.vreinmls.com/ver/maildoc/b002UD5496.html