Importance of Home Inspections

Some homeowners might be tempted to skip getting a home inspection because of timing or cost. Buying a home could be the largest single investment you will ever make. To minimize unpleasant surprises and unexpected difficulties, you’ll want to learn as much as you can about the newly constructed or existing house before you buy it. A home inspection may identify the need for major repairs or builder oversights, as well as the need for maintenance to keep it in good shape. After the inspection, you will know more about the house, which will allow you to make decisions with confidence.

The attached article explains why getting a home inspection is one of the most important steps in the home closing process.

http://blog.coldwellbanker.com/home-tip-day-getting-home-inspection

Stowe VT Real Estate Market Report

Real Estate Market Update for the 3rd Quarter of 2014

After a beautiful, warm summer here in northern Vermont, the transition to fall has been equally as gorgeous.  The leaf peeping has been some of the best, accentuated by the crisp bright light that is cast in autumn.  We are enjoying our new location and office space; and if you haven’t had a chance to visit since we moved, please stop by and take a peek.

When looking at the last nine months of real estate sales in Stowe, you will see the continued increase in the number of residential homes that have sold.  Sales are up again, 11% in comparison to 2013.

The majority of those were still under $500,000, little changed from last year at this time, which you will see below in the 2nd graph.  Home sales in the $500,000 – $1,000,000 price range have increased though, from 32% to 40%.  And although there have not been any sales over 1,500,000 so far this year, there are currently 3 pending sales between $1,595,000 and $2,500,000.

(Click on any of the images to view full screen)

 

Stowe 3rd Qtr 2014 Line Chart Residential

 

 

Continued low interest rates, consumer confidence, and buyer demand, all continue to help strengthen residential and condominium sales,  although we’ve gone back to seeing residential inventory rise again, this time, by 20%.  Stowe condominium and land inventory have both dipped though, 9% and 27% respectively.  The median price for residential sales increased 28%, and the average went down 7%.

 

The number of condominium sales rose again at the end of the third quarter.  Not as much as after the 2nd quarter, but up 24%, nonetheless.   The median and average sales prices both dipped, nearly the same as after the 2nd quarter, 29% and 27% respectively.

 

Land sales in Stowe remain generally steady, with a slight decrease by 1 sale.  You will note that the average is way up.  This is due to the fact that there were a couple of high end sales.  One was a 27 acre parcel off of Birch Hill which sold for $565,000, and one in Robinson Springs, which is a 48 acre parcel where one house is being built.  That lot sold for $1,200,000.   The median price, in contrast was up 18%.  Inventory in the land category decreased by 27%.

 

 

Stowe 3rd Qtr 2014 Main Chart

 

 

 

Stowe 3rd Qtr 2014 Line Charts

 

 

The charts below show that the sold to list price has decreased comparatively since this time last year, except for in the $1,000,000 to $1,500,000 range.

 

 

Stowe 3rd Qtr 2014 List to Sold

 

 

The rest of Lamoille County saw little change, compared to this time last year.  As you will see below, there was no increase in the number of residential sales.  The median and average sales prices were virtually unchanged, and the inventory up, ever so slightly at 2%.  The number of land sales declined by 29%, and the inventory remained the same.  All of the sales were $200,000 and under, with the exception of one that sold at $665,000.  This is therefore reflected in the increase in the median and average prices, up 17% and 20% respectively.

 

 

Lamoille 3rd Qtr 2014 Main Chart

 

 

Prospective purchasers have recently benefited from additional home choices in Waterbury, with the advent of increased residential inventory. 7 of the sales were over $400,000, and the highest priced sale was $852,000. The number of sales, along with the median and average prices, dipped slightly.

 

Waterbury land sales increased again significantly.  Since it was an increase from 2 sales to 7, the increase shows as much as 250%.  The majority of sales were under $100,000, thereby causing both the median and average prices to decrease.  Inventory is down notably, by as much as 34%, so we may continue to see sales increase here.  There are currently 2 pending sales which are in the higher price range, one listed at $169,000, and the other at $249,000.

 

 

Waterbury 3rd Qtr 2014

 

Office 3rd Qtr 2014 National Brand

 

Coldwell Banker Carlson Real Estate – a leader in northern Vermont.

 

We look forward to the rest of the real estate year, and the upcoming winter season.  Please let me know if I can help you with any of your real estate needs.  If you have any questions about this report, or would like any additional information or statistics, please feel free to contact me at anytime.

 

Source: NNEREN.com

Foliage in Stowe, Vermont

Fall is upon us! There is a nip in the air, the first frost warning has been posted and late afternoons have that warm, golden glow. Autumn in Stowe, Vermont, voted one of the Top 10 Most Gorgeous Towns by Travel and Leisure readers to visit during foliage:  http://www.thrillist.com/travel/nation/fall-s-10-most-gorgeous-american-towns-voted-by-travel-leisure-readers?ref=facebook-869

Stowe comes alive again for foliage after a couple of quiet weeks at the end of summer. It seems as if every weekend is packed full of special events to take advantage of, as if viewing the beautiful colors is enough. Take a hike, go for a bike ride or drive the back roads then head into town to enjoy events ranging from The British Car Invasion, Pumpkin Chuckin Festival, Oktoberfest, Vermont Crafter’s Festival, Exhibits at Helen Day Art Center, Performances at Spruce Peak Performing Arts, Stowe Theater Guild or Lamoille County Players. Phew… that is just a sampling. A good resource for all events going on the are is Stowe Area Association. Here is the link to their calendar: http://www.gostowe.com/events/events-all/eventdetail/1442/-/the-vermont-pumpkin-chuckin-festival

Fall in Stowe, Vermont

Fall in Stowe, Vermont

New Office Location

Coldwell Banker Carlson Real Estate is excited to announce that we have moved our office. The new office is 4 buildings down at 91 Main Street between Plate and Ferro Jewelers.

We purchased the office condominium in April; renovations and construction were completed in early July. The new office is handicapped accessible with modern conference and office space on two levels. The new office provides an updated, modern environment while maintaining our Main Street presence.

Please stop and say hello the next time you are in the Village – everyone at Coldwell Banker Carlson Real Estate would love to show you around the new digs.

Exterior of our new office at 91 Main St, Stowe, VT.

Exterior of our new office at 91 Main St, Stowe, VT.

Real Estate Market Update Summer 2014

Real Estate Market Update
We are settling in nicely to our new Main Street location which is located in the former Staffords Building, in between Plate and Ferro Jewelers. The brand new renovation has provided a bright, modern, and efficient work environment, which we are truly enjoying. Please stop by and check it out if you are in the village.

Following a beautiful spring, summer in the Stowe area is in full swing. The July 4th holiday weekend seemed busier than ever, and there is a full slate of fantastic events on tap for the rest of the season. The weather has been great, especially on the weekends, adding to the enjoyment of all the area has to offer during this special time.

You may recall that the 1st quarter of sales this year showed a remarkable increase in the number of residential sales as compared to that of the 1st quarter of 2013. At the end of the first 6 months the sales data shows yet another increase comparatively; this time up 21%. Consumer confidence, buyer demand, low interest rates, and ongoing decline in inventory, continue to influence this trend. Although residential inventory began to increase a bit at the beginning of June, the overall amount ended up lower by the end of the 2nd quarter – down 11% – which represents a 14 month supply. The median and average residential sales prices increased, 35% and 4%, respectively.

 

 

Stowe 2nd Qtr Residential Sales
Condominium sales were up significantly at the end of the second quarter, by as much as 67%. The amount of inventory decreased slightly by 6%, leaving a 23 months’ supply. The median and average sales prices dipped 21 and 29%.

Although projections for land sales were indicating an increase, they were actually up more significantly than thought – to the highest number since 2006. The number of listings declined as much as 29%. The median sale price of $170,000 was a bit lower than last year at this time, 17%; whereas the average increased 47%.

Stowe 2nd Qtr Main Charts

 

 

The chart below shows a continued increase of home sales up to $500,000, which increased about 21%. Home sales for the 1st 6 months of the year between $500,000 and $1,000,000, represent 40% of all sales, down slightly from last year. The luxury market segment, above $1,000,000 increased slightly from 4% to 9%.
Stowe 2nd Qtr Pie Chart
In the same categories, the chart below shows the relationship of sales price to list price.

 

Stowe 2nd Qtr List to Sold
North of Stowe, the rest of Lamoille County saw an increase again in residential sales after the 1st 6 months of sales – up 11%. The majority of those sales, were again, under $200,000. The median sales price did not change and the average price was up 8%. The Inventory level remains the same after 6 months of sales, compared to last year. The number of Land sales did not increase, but inventory did by 14%.

Lamoille 2nd qtr 2014
Although the Waterbury residential market showed a slight dip in the number of sales – by 13% – the sales market there is currently very active. There are 8 homes under contract right now, which is more than there were at this time last year. The median price increased slightly by 3%, whereas the average went down 11%. Like Stowe, land sales in Waterbury increased significantly, although the median and average prices both fell. The number of land listings is down by 17%.

 

Waterbury 2nd Qtr 2014
Our office was again awarded the #1 Coldwell Banker office in sales, of its size, in the northern region comprised of 19 states. Additionally, we were awarded the #3 ranking, nationally. Budge Huskey, President and CEO of Coldwell Banker said of our office:
“Like Stowe itself, Coldwell Banker Carlson Real Estate is unique and grounded in the concept of quality first”.

 

We look forward to another busy summer of assisting all of our Customers and Clients with marketing, buying and selling properties. If you have any questions about this report, or would like any additional information or statistics, please feel free to contact me at anytime.

Source: NNEREN.com

Real Estate Sales UP for Stowe, Vt and surrounding areas!

1st Quarter 2014 Market Report 

Vermont is finally showing signs of spring beginning to emerge after a very cold and snowy winter.  While thoughts transition from winter activities, to dusting off the bikes and gardening tools, some are still skiing in the back country and on the slopes.  Buds will soon begin to blossom, as we expect the real estate market to do as well.  We’ve had an extremely busy winter with sales; and projections indicate continued growth.  Vibrancy continues in the village of Stowe as well, with the new restaurant Plate, and what is reported to be a new store keeper at Lackey’s.  

 The 1st quarter of 2014 can be characterized as one showing another marked increase in residential sales especially compared to the 1st quarter of 2013.   The number of home sales was up 60%!  That is the most significant increase we’ve seen since 2010, which at that time was around 27%.  A continuation of consumer confidence, buyer demand, low interest rates, and decline in inventory, are among the contributing factors.  Residential inventory continues to decrease – down 11% – which represents a 10 month supply which is 44% lower than the 1st quarter of last year.  The median and average residential sales prices soared 71% and 41%, respectively. 

 

Residential Unit Sales 1st Quarter - 2006 to 2014

Residential Unit Sales 1st Quarter – 2006 to 2014

 

 Condominium sales show continued strength as well – up 20% in the 1st quarter.   The amount of inventory of this category decreased as well, down 32%, leaving a 17 months’ supply.  There was little change in the median and average sales prices. 

 As for the land category, despite the inventory dropping 16%, there was no increase in the number of sales.  We believe we may have a bit more interest in land this spring and summer though, since land prices and residential inventory have both dropped.

 

 

Stowe 1st Qtr 2014 Residential, Condo and Land Sales

Stowe 1st Qtr 2014 Residential, Condo and Land Sales

Stowe 1st Qtr Units Sales - Residential, Condominium and Land

Stowe 1st Qtr Units Sales – Residential, Condominium and Land

 

Below you will see an interesting change in the selling price segments of the market.  The shift has been trending more toward home sales in the $500,000 – $1,000,000, rather than under $500,000.  The former price category has been increasing since the beginning of last year.  At this time last year 73% of the home sales were under $500,000; and 20% were between $500,000 – $1,000,000 .  The $1,000,000 – $1,500,000 dropped a little to 4%, from 7% last year at this time; as well as the last quarter of 2013.

  

Price Ranges as Percent of Market

Price Ranges as Percent of Market

 

In the same categories, the chart below shows the relationship of sales price to list price.

Sold Price to List Price

Sold Price to List Price

 

 Outside of Stowe, the rest of Lamoille County saw an increase in residential sales in the 1st quarter as well – up 38%.  This mirrors the increase seen when comparing the last quarter of 2013 to that of the year before. The median sales price increased 8%, and the average32%.  The Inventory dropped even more significantly than Stowe – 27%.  The number of Land sales was just 1 less, and the amount of inventory there remained almost unchanged.  The majority of the home sales, 53%, were under $200,000

  

Lamoille County 1st Qtr 2014 Sales

Lamoille County 1st Qtr 2014 Sales

 

 Further evidence of the Waterbury residential market continuing to be a tight one was highlighted by the consistent amount of lowinventory seen there.  Residential sales increased a small amount.  Although the median price increased 23%, the average slipped 28%.  Land sales in Waterbury increased slightly as well; and as seen in all other categories, inventory dropped there too – 21%.  A decrease in inventory is a trend we are watching which could eventually lead to an uptick in pricing, as has been seen in other parts of the country.  Our market, in general, usually trends behind other markets, particularly areas with larger populations and demographics. 

 

Waterbury 1st Qtr 2014 Sales

Waterbury 1st Qtr 2014 Sales

  

In other news, we are proud to share, that our office was recently awarded the #1 Coldwell Banker office in sales, of its size, in the northern region comprised of 19 states.  Additionally, we were awarded the  #4 ranking, nationally. 

Budge Huskey, President and CEO of Coldwell Banker said of our office:

“Like Stowe itself, Coldwell Banker Carlson Real Estate is unique and grounded in the concept of quality first”.

 

States in the Northern Region for Coldwell Banker

States in the Northern Region for Coldwell Banker

 

We look forward to another busy year of assisting our buyers and sellers with marketing, purchasing and sales; and based on the activity we have already seen this first quarter, we are confident that the market will continue to improve.

 

If you have any questions about this report, or would like any additional information or statistics, please feel free to contact me at anytime.

 

Sources: NNEREN.com

Coldwell Banker Carlson Real Estate Honored: #1 In Region and #4 Nationally!

Coldwell Banker Carlson Real Estate located Stowe, VT and their agents were honored at the 2014 Coldwell Banker Gen Blue conference in Mashantucket CT. Coldwell Banker Carlson Real Estate was named #1 in Sales in the Northern Region and #4 Nationally among Coldwell Banker offices of similar size. The Northern Region for Coldwell Banker consists of 19 states from Maine to Minnesota and as far south as Maryland and Missouri.

The office also received the 2013 Premier Office designation, highest average sales achieved for all agents in the office, which demonstrates a high level of team work and excellence among the entire office. The Premier Office Designation is awarded to only the top few of all Coldwell Banker offices. 2013 is the second year Coldwell Banker Carlson Real Estate has been awarded this designation.  

Budge Huskey, President and CEO of Coldwell Banker and McKee Macdonald of Coldwell Banker Carlson Real Estate.

Budge Huskey, President and CEO of Coldwell Banker and McKee Macdonald of Coldwell Banker Carlson Real Estate.

Budge Huskey, President and Chief Executive Officer of Coldwell Banker expressed his appreciation, “We are extremely proud of the accomplishments of all those at Coldwell Banker Carlson, both for its position as the most productive office in its size category in the northern region but also for its status as a Premier office. The company’s success is a statement of what may be accomplished when a select, dynamic team of professionals creates a culture of high expectations and a laser focus on exceptional service. Like Stowe itself, Coldwell Banker Carlson is unique and grounded in the concept of quality first.” 

Coldwell Banker Carlson Real Estate is pleased to announce that the following agents and teams were recognized for their sales achievements:

  • Jeff Beattie has been recognized as a 2013 International Sterling Society Member for the 2nd year  in a row.
  • Ellen Thorndike has been recognized as a 2013 International Diamond Society Member for the 2nd time.
  • The Smith Macdonald Group, consisting of Peggy Smith and McKee Macdonald, has been recognized as a International  Diamond Society Team for the 2nd year in a row.

Coldwell Banker Carlson Real Estate is extremely proud of the accomplishment of all of our agents the entire office!!

Home Sweet Home

What is the value of a home? Is it only the sum of the number of bedrooms, bathrooms, total square footage and granite kitchen counter tops? Or is the real value in the experiences and memories created within? What are we really heading home to at the end of the day, our 2.5 bathrooms or the feeling of comfort and peace found at home? Home is what you make of it and home is truly unique to each of us. Home isn’t always about the size and finishes but the feelings we experience when we are home.

Coldwell Banker sums up this feeling of home in the award winning commercial, “Home Sweet Home” featuring Motley Cru. Sounds like an odd combination… watch and see for yourself why this spot has been awarded Best Real Estate Commercial for 2014 and Best Real Estate Commercial ever!

 

 

 

 

Stowe, VT Area Market Report 2013

The Stowe, VT area real estate market showed significant gains in 2013. Unit sales for Stowe have returned to levels prior to the real estate decline. Sales for the rest of Lamoille County were also strong with units sales up 36% over last year. In the smaller Waterbury market there was a 9% increase in unit sales.

Stowe Residential, Condo and Land Sales

Stowe Residential, Condo and Land Sales

While units sales numbers have increased across the board and inventory has dipped, average and median home sale prices have been slow to follow. In Stowe, the months of supply in the under $500,000 price range has decreased to 7 months, a balanced market. This should translate into increased sales prices in the months to follow. The high end of the market, over $1M and over $1.5M maintain a larger supply of inventory which will need to be moved through the market before selling prices show any significant increases.

Stowe continues to lead Lamoille County in sales volume with Morristown and Cambridge having the next largest segment of the market.

Lamoille County Sales Volume by Town

Lamoille County Sales Volume by Town

The Coldwell Banker brand continues to dominate in Vermont, with significantly more market share than the competition.

Vermont Real Estate Sales by Brand

Vermont Real Estate Sales by Brand

For a complete copy of the Coldwell Banker Carlson Real Estate 2013 Market Report visit our website at www.StoweVermontReal Estate.com or contact any of our Agents at 802-253-7358.

 

Stowe VT Luxury Property Featured on Bloomberg

Coldwell Banker Carlson Real Estate’s Stowe, VT Luxury Property Featured on Bloomberg!

 

Coldwell Banker Carlson Real Estate’s mother/son team, Smith Macdonald Group had their Luxury Property, Le Château des Monts Verts, featured on Bloomberg, under luxury homes for sale with chef-worthy kitchens.

Luxury Stowe, VT Home

Luxury Stowe, VT Home

Bloomberg Article – Luxury Homes for Sale with Chef Worthy Kitchens

This elegant country property is unique in quality, luxury and style. Reminiscent of a home in the French countryside, it was designed by world class architect Bruce Anderson, it is located more than 1,000 feet above Stowe Village and from virtually all rooms enjoy exceptional panoramic views west to the Green Mountains and Stowe Mt. Resort. The property sits just below 13,000 acres of environmentally protected Putnam State Forest providing total privacy. The open main level overlooks the large deck and includes a luxurious chef’s kitchen equipped with Meile, Sub-Zero and Thermador appliances, living room, dining room and a solarium that brings the outside in during every season; this main level is ideal for entertaining. From this level one can ascend via a custom crafted grand master staircase to two master suites each with Jacuzzi baths and excellent mountain views.

The lower level has a large bath, a home theater with HD and surround sounds, a home office with custom cabinetry and a garden room for flower arranging and potting. This floor includes two very private walk out bedrooms to a large covered terrace. This terrace enters a lovely garden walk to the heated pool and cabana with a half bath and kitchenette. This is a smart house that includes a security system and a premium sound system in the main rooms and deck. This one of a kind home has finishes imported from France, Italy, Brazil and Canada, all blended beautifully with a local Vermont craftsmanship. These unique features, inside and out combine into a truly exceptional country home.

Bloomberg Homes for Sale with Chef-Worthy Kitchens.