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.