Sold in Stowe VT!

I'm pleased to show you this home in Stowe, VT that I sold, a week ago today, to a family from Boston. It's on a private road, adjacent to Trapp Family Lodge mountain-bike and cross-country ski trails, and less than 10 minutes from Stowe Mountain Resort. This 3-level, 4-bedroom, 3½-bath home has more than 4,300 square feet of living space and is beautifully sited on five very private acres.

Photographed by my colleague Teresa Merelman

Can I help you find yours?

write or call 802.730.4343

HGTV's 15 Anniversary Dream Home will be built in...

Think this will intensify worldwide buzz about and interest in Stowe? You can count on it! Here are some strong monthly-average stats for HGTV.com in Q1 2010:

SITE METRICS

• 6.0 million unique visitors
• 203.8 million monthly page views
• 4.8 sessions per person
• 2.1 million HGTV Ideas newsletter subscribers
• 14:35 average minutes per person
• 31 pages per person
• (monthly average for Q1 2010)

You can bet every one of these site visitors knows about the HGTV program lineup and the annual Dream Home. And, soon, they'll all be very Stowe-aware. Read today's HGTV press release here.

Can I help you find your dream home?

write or call (802.730.4343)

Let the Selling Season Begin!

I'm delighted to show you this home in Stowe I just sold to a young couple from a Boston suburb. It's on a private road close to Stowe Village and Stowe Mountain Resort. This 4-bedroom, 2 bath home on 1.66 acres offers lots of privacy, great views of the Worcester Range to the south; and, distant views of the ski trails on Mt. Mansfield to the north. It was on the market for only 32 days and under contract for 36 before closing last Friday. The market is picking up!

Can I help you find yours?

write or call (802.730.4343)

Fifteen-Year Mortgage Hits a Record Low

From the Wall Street Journal
FAMILY FINANCES | JUNE 4, 2010

WASHINGTON—Home-mortgage rates were little changed last week, holding steady for the most part at or near recent lows, including a record for the 15-year fixed-rate loan, Freddie Mac said.

The 30-year fixed-rate mortgage average rose slightly to 4.79% for the week ended Thursday, according to Freddie's weekly survey.

In the prior week, the average rate was 4.78%, the lowest since December. The year-ago average for the 30-year home loan stood at 5.29%.

"The economy grew at a slower rate than originally reported in the first three months of the year … which suggests inflation will remain tame in the near term," said Freddie Mac chief economist Frank Nothaft, referring to revised data on U.S. gross domestic product.

"As a result," he said, "mortgage rates held at historic levels this week."

Rates on 15-year fixed-rate mortgages averaged 4.2%, the lowest level since Freddie Mac began tracking the mortgage in 1991, down from 4.21% in the prior week.

One-year Treasury-indexed adjustable-rate mortgages averaged 3.95%, unchanged from the prior week and the lowest level since May 2004. The one-year ARM averaged 4.81% a year ago.

The five-year Treasury-indexed ARM averaged 3.94%, down from 3.97% in the prior week and 4.85% a year ago.

Peculiarities of Realty

My friend Brad was one of the most experienced, knowledgeable, and well-liked real-estate Brokers in the Stowe area for years. And, as our across-the-street-neighbor, he was the first person Fran and I met when we found our home in Hyde Park almost seven years ago. I received this eMail from Brad a few days ago:

"I read in the online edition of the Burlington Free Press of the death of Emma Davis, Waterville.

She was a part of the Manchester clan of the upper west side of Lamoille County, and a devoted Nazarene.

She was also Waterville's Town Clerk, and I think she kind of inherited that role from her husband. As I recall, there was no real "town office" in Waterville, and she kept town records at her house.  I had little real-estate activity in that town, but occasionally I did. In one instance, I had a listing that went under contract. The seller was the estate of the property owner. The local attorney for the estate had documentation for his appointment. After a protracted period of time, it seemed that he did NOT have a death certificate, and we were on the brink of closing. He asked that I go to Waterville to get a copy of the certification. So dispatched, I appeared on Emma Davis's doorstep. I let her know what I was looking for. She was busy, and said that the death certificate should be in her back bedroom in a volume on her bureau. I discovered the appropriate book, indeed, on her bureau. There were orderly filings properly bound, and additionally, a whole bunch of loose documents shoved at the beginning, the end, and in between bound pages. I was at a loss as to how I might find the death certificate I was seeking. Ultimately, I went back to Emma's kitchen and said I seemed unable to find what I wanted. She looked up at me and said, "Look, the guy is dead. I know it, and I went to his funeral, and now I need to go."

This was before FedEx, and long before fax and email. We delayed the closing, and sent for a certified copy of the death certificate in Manhattan, where it was the Seller had died. Couple of weeks later it finally appeared. Emma was right, he was dead."

Wonderfully detailed Waterbury Village vintage home - Just Reduced to $212,900!

This vintage home still has all original wood trim, tin ceilings, switch plates, and 5-panel solid oak doors throughout. There are ceiling fans in each of the 3 bedrooms, and the original claw-foot tub in the 2nd-floor bathroom.

• 3-season porches front & rear
• New Roof 2006
• Whole house new electrical in 2008
• Ideal for 1st-time home-buyer tax credit (you'll have to be under contract by April 30th!)
• Close to Rt. 89, making it perfect for commutes to Burlington, Montpelier or Stowe

Take a look at the complete listing, with more photos at Realtor.com. Then, call me to arrange a visit!

Lake Elmore: Back on the market after a Winter hiatus

This exceptional custom lakefront 3-story home is back on the market at $589,900.

• It's 2-years new
• It's equally suitable for full-time, year round living and as a second- or vacation-home
• 25 minutes to Stowe Village; another 10 minutes up the Mountain Road to the Resort
• If you've got school-age kids, this is an important and valuable feature: Lake Elmore is a "Homeowner School Choice" town. Because Elmore doesn't have its own schools beyond elementary, residents' children can choose to go to Junior and Senior High in Stowe, Morrisville, Hyde Park; or, any other public school, worldwide! (you have to pay for the transportation to France...)
• 3 Bedrooms, 2 ½ Baths, 2,750 square feet
• 71' Lake frontage
• It's got tons of features, too numerous to list here

 See the original blog entry, with more photos here, and then take a look at the complete listing on Realtor.com.

Then, give me a call to arrange a tour -- it could be yours to enjoy this summer!

Want a VT Lakefront home only 35 minutes from Stowe Mountain Resort?

Here's my newest listing: it's in Lake Elmore, it's a custom lakefront 3-story home with traditional Lodge characteristics; and, it's new to market today at $589,900.

• It's 1-year new
• It's equally suitable for full-time, year round living and as a second- or vacation-home
• 25 minutes to Stowe Village; another 10 minutes up the Mountain Road to the Resort
• If you've got school-age kids, this is an important and valuable feature: Lake Elmore is a "Homeowner School Choice" town. Because Elmore doesn't have its own schools beyond elementary, residents' children can choose to go to Junior and Senior High in Stowe, Morrisville, Hyde Park; or, any other public school, worldwide! (you have to pay for the transportation to France...)
• 3 Bedrooms, 2 ½ Baths, 2,750 square feet
• 71' Lake frontage
• It's got tons of features, too numerous to list here

Take a look at these photos. Then, if you'd like more information, click here to see the details on Realtor.com.

Street View

Entrance View thru to Lake Elmore

Great Room from Dining Room

Kitchen

Kitchen / Dining

Master Bedroom with Private Porch

Master Bedroom is just off the Great Room

Kitchen View of the Lake

Family Room in the Loft

Great Room from the 3rd-Floor Loft

2nd Bedroom with Lake views

Rec. Room with Lake views

3rd Bedroom

Lakeside Patio and Dock

Lakeside from the dock

View of the Home (center) from across the Lake

Will 'Echo Boomers' Save the Housing Market?

Echo boomers, the children of baby boomers, will be the salvation of the housing market, Harvard University's Joint Center for Housing Studies predicts.

In its annual state of the nation’s housing study, the center says that the 75 million Americans born between 1979 and 1995 will mean plenty of demand for housing units.

"There will be 5 million more echo boomers than there were boomers when they first started swelling housing markets," says Eric Belsky, executive director of the Joint Center.

Belsky predicts that once the job market turns around, the housing market will recovery quickly because inventories are close in balance between supply and demand.

But the study warns that while echo boomers will increase demand significantly, they may not drive up prices much because their real incomes are lower than those earned by people a decade older when they entered the job market.

"While fundamentally we see what could be the foundation for long-term recovery, we still have to get through today's challenges," says Nicolas Retsinas, director of the Harvard center.

Sources: CNNMoney.com, Les Christie, and Reuters, Lynn Adler (06/22/2009)

Lamoille Area Board of Realtors Summer/Fall Buyer's Guide

You'd probably be surprised that the number of visitors to Stowe in the summer far exceeds that of winter. Despite the assumption that Stowe is 'just' a ski-resort town, the reality is that Stowe is, and has long been, a four-season destination. This buyer's guide will be everywhere in Stowe and throughout Lamoille County on July 1st. Be sure to pick one up when you're here, or take advantage of this sneak preview, and call or write to me today! 

Diverting Idle Hands (and Feet) (NYT)

YOUR SECOND HOME | THE LONG DRIVE
By Steve Bailey, New York Times, March 26, 2009

March 26 (New York Times) -- IT’S the weekend routine. Almost every Friday everyone piles into the car for the trip to the weekend house. You and your spouse or partner alternate between private thoughts, casual conversation and listening to a favorite song that has popped up on the radio.
...
The drive is never going to be the best part of second-home ownership, but it doesn’t have to be two lost hours going and two lost hours returning. And, for the back-seat crowd, it doesn’t have to be endlessly boring. Read the complete article here.

----------------------

My wife and I used to make the trek from Boston to our cabin in northern Lamoille County for more than 10 years before we moved here. We usually left the South Shore late afternoon; or, worse, after work, on Fridays. After a year of that routine, arriving up here, many times after dark, to what became inevitable surprises (like no water, any season; or, a frozen chimney damper in the winter,) we changed our departure time to Saturday morning! We live here now, so those little things are no longer a problem for us. Whether or not you're thinking of renting your vacation home, we can suggest a number of options to make sure you won't have to deal with these kinds of problems when you're not here or when you arrive. 

  

Stowe Realty, one of the top local-area vacation-rental agencies, is a one-stop shop for Stowe, Vermont residential, vacation, or commercial real estate and rental information. Whether you own a second or vacation home, or are planning to buy or rent one, we'll deliver focused first-class service and support. If I can help, write or call me at 802.730.4343

Everybody Into the Rental Pool (NYT)

By Susan Stellin, New York Times, March 19, 2009

March 19 (New York Times) -- PEOPLE who buy second homes often harbor the same fallback plan in case their purchase proves to be too much of a stretch: “Well, we can always rent it out if we get in trouble.”

So with belts tightening and the real estate market in turmoil, how is the vacation-rental business holding up?

Although there are few statistics on the national vacation-home rental market, property managers and online listings companies say that more second-home owners are trying to rent out their properties at least part-time, a trend no doubt propelled by the Internet as well as the gloomy economy.

At the same time, prospective renters, feeling the financial pinch themselves, are more likely to haggle over prices, book shorter stays (often at the last minute) and opt for destinations within driving distance. And with more properties to choose from, they can afford to be picky about amenities and discounts. ... “The fly markets like Colorado and Utah are doing poorly, ... whereas in other markets such as Vermont we’re seeing demand up 15 to 20 percent.” Read the complete article here.

Stowe Realty, one of the top local-area vacation-rental agencies, is a one-stop shop for Stowe, Vermont residential, vacation, or commercial real estate and rental information. Whether you own a second or vacation home, or are planning to buy or rent one, we'll deliver focused first-class service and support. If I can help, write or call me at 802.730.4343

Stowe Realty

On Monday this week, I updated my Stowe Patrol header photo, adding the logos for Mt. Mansfield Ski Patrol, Stowe Realty, and the NATIONAL ASSOCIATION OF REALTORS^® .

As you know, I am and have been a member of the Mt. Mansfield Ski Patrol. I am pleased to announce that I have joined Stowe Realty, where I will capitalize on my tenure at Spruce Peak at Stowe Mountain Resort as its Real Estate Marketing Manager to specialize in working with those who are contemplating or ready to make a lifestyle change. And, while I've been a Vermont licensed real-estate salesperson for some time, I am now also a member of the NATIONAL ASSOCIATION OF REALTORS^® and subscribe to its strict Code of Ethics.

For real-estate inquiries, you can reach me at 802 253-8484, toll free at 800 639-1812, or via eMail at charlie at stowerealty dot com.