The Nancy Jenkins Team Blog by Nancy Jenkins, CRB, CRS

BurlingtonFreePress.com, Vermont in a "short and shallow" recession

There is an article in the Friday May 30th Burlington Free Press that predicts a short and shallow falloff in the Vermont Economy. Much has been reported on whether or not we are or are not in a recession- the dreaded "R" word. A recession is defined as two consecutive quarters of negative growth, and some are longer and deeper than others. It is good news that Jeff Carr is reporting on our first since 2001 that it should be short. -Nancy Vermont in a "short and shallow" recession
By Dan McLean • Free Press Staff Writer • May 30, 2008 For the first time since late 2001, the state's economist will tell his regional counterparts today that Vermont is in a recession. Jeff Carr, economic consultant to the Douglas administration and president of Economic & Policy Resources in Williston, said the recession is "short and shallow." He said he expects Vermont to begin to recover by the last three months of this ..(read more)

[Updated] Vermont Foreclosures down 50% in January!

Vermont Foreclosures down 50% in January!

That is actually not the headline on CNNmoney.com which is "January Foreclosures up 57%" so what is the real story and how does it affect Burlington VT and the local real estate market? Sure, the housing numbers for the US are down from the peak, however we are not experiencing the wave of foreclosures found in states like California, and Florida where the market was according to reports "overvalued". In January 2007 there was a grand total of two foreclosure filings in the entire state, according to the article. This year the number of foreclosure filings plummeted 50% to a grand total of one foreclosure filing in Vermont. Our market is healthy, with an ample supply of well priced homes ready to buy, and interest rates that make homes today more affordable than any time in the past four years. We are not experiencing the national trend because Vermont is a conservative state, and we had the ..(read more)

BurlingtonFreePress.com, Vermont's real-estate picture stays ahead of rising foreclosure trend

There was a story run in the December 16th Burlington Free Press on the national real estate market’s media coverage, you may find interesting. On this same topic, I received an email from a buyer asking if housing prices in Vermont were really going to drop 30% in 2008. What he was referring to was a recent headline posted by Reuters on two markets- Punta Gorda, FL and Stockton, CA, which were the only two cities mentioned. My advice to sellers has always been that you buy and sell a home in the same market. It has never been a good strategy to try to time the market. Now is a great time to invest in Vermont real estate. -Nancy Vermont's real-estate picture stays ahead of rising foreclosure trend

Published: Sunday, December 16, 2007
By Dan McLean
Free Press Staff Writer

Mark Chaffee, vice president of Mortgage Financial Inc. in Colchester, said he's getting frustrated with national reports of a ..(read more)

Burlingtonfreepress.com, Old maps hold value in real estate

According to the Burlington Free Press, the state of Vermont has started making official maps and plotting plans available on digital files. In fact, much of the Vermont State Archives is being converted to modern digital use. This will have a positive impact on the real estate industry, which relies on accurate boundary lines to properly transfer homesteads and land parcels. No longer will the Joneses and the Smiths need comb through dusty old land records to find out whose side of the boundary line their favorite apple tree is on. It will soon be on digital records, easily available to the public. -Nancy

Old maps hold value in real estate

Published: Monday, November 26, 2007
By Wilson Ring
The Associated Press

MONTPELIER -- It the mid-18th century, teams of men spread out across Vermont to map the tractless wilderness.

Measuring ..(read more)

BurlingtonFreePress.com, Vermont ranked #1 in health

Vermonters rank as the nation’s healthiest, according to an article in today’s Burlington Free Press. Vermonters have long prided themselves as an active, outdoorsy bunch, who might be as easily found scaling a 1,800 ft cliff-side as sipping free coffee in a local rest stop. This new distinction of ‘Healthiest Americans,’ which adds much to the treasured Vermont mystique, comes as the result of the state's long-term, coordinated efforts in the areas of prenatal care, pediatric care, treatment of chronic diseases, cigarette smoking, and teen pregnancy. -Nancy Vermont ranked #1 in health

Published: Tuesday, November 6, 2007
By Terri Hallenbeck
Free Press Staff Writer

Vermonters have a healthier way about them than anybody else in the country, a national health group declared Monday in boosting the state's health ranking from second last year to first in the nation.

Some 20 factors ..(read more)

BurlingtonFreePress.com, There are some ways to sell your home quickly

The Burlington Free Press just published an article that provides some helpful tips for getting your home sold quickly. They side column also has some great points for easing the stress of a move. The article as a whole is a good read, some key points to note are; Think like buyers, Price is critical, Curb appeal and Pets, lighting, bathrooms and smells. -Nancy

There are some ways to sell your home quickly

Published: Wednesday, September 12, 2007
By Michael Perrault
Gannett News Service

There are plenty of houses for sale, and they are not moving nearly as quickly as they did during the dot-com boom of 1995-2001. So if you want your house to sell and not sit, here are some tips to consider:

Think like buyers.

“Sellers should view their home from the buyer’s perspective as if they are in the market to buy a home right now,” recommends Carlo Lombardelli, broker ..(read more)

BurlingtonFreePress.com, Mortgage payments hit hard

The news of late is all about subprime loans, foreclosures and what the effect will be on the Vermont real estate market. The Sunday issue of the Burlington Free Press had an article which said foreclosures are on the rise, mostly due to an increase in defaults in higher risk subprime loans. What are subprime loans, and why should we care here in Burlington? Simply put, subprime loans are offered to borrowers who may not fit a conventional financing product most buyers use. They may have some credit issues, or maybe income that is not acceptable for conventional loans. The mortgage loan closes at a higher rate (typically 2-4% above conventional rates) and are usually adjustable rate loans. When the loan adjusts, the borrowers payment increases significantly, and can result in difficulty making the increased mortgage. Vermont has one of the lowest percentages of suprime loans versus conventional in the nation per CNN Money. An increase in foreclosure filings ..(read more)

VHFA is now able to offer an exception to the first-time buyer requirement to veterans.

I just received an important message from VHFA (Vermont Housing Finance Agency) and wanted to pass the information on to you. -Nancy As part of the Tax Relief and Health Care Act of 2006, VHFA IS NOWABLE TO OFFER AN EXCEPTION TO THE FIRST-TIME BUYER REQUIREMENT TO VETERANS. This exception is available for a limited time only. The five counties that Borrowers are required to be a first-time buyer or not have owned a home in the past three years are: Addison, Bennington, Chittenden (Census tract 4 is exempt) Grand Isle and Windsor. To be eligible, the Borrower must meet the veteran status as defined in 38 United States Code, Section 101. The Borrower must have served in the military, naval or air service and been discharged or released under conditions other than dishonorable or re-enlisted. For more information contact a VHFA Participating Lender. You will find a list of VHFA Participating Lenders on our web site at ..(read more)

BurlingtonFreePress.com, Burlington is nation's most eco-friendly city, magazine says

Burlington Free Press reports on an article in Country Homes Magazine, that Burlington Vermont is the nations most eco-friendly city. The report used data from U.S. Census Bureau, the U.S. Department of Transportation, the U.S. Department of Agriculture, the U.S. Environmental Protection Agency, the U.S. Green Building Council, and more. They rated environmental issues such as the use of mass transit, air and watershed qualities, organic farmers and farmers markets. Country Homes magazine has a circulation of over million, so it’s wonderful to see our little city get this great national exposure.
-Nancy

Burlington is nation's most eco-friendly city, magazine says Published: Thursday, March 8, 2007
By John Curran

The city that has been named among the nation's safest, fittest and most livable has a new claim to fame -- America's most eco-friendly place.

So says Country Home magazine, which ranked ..(read more)

BurlingtonFreepress.com, Housing in Vermont becomes less affordable

Today’s Burlington Free Press features an article on housing affordability in Vermont with our clients who have a home under deposit. The article examines the current condition of affordability and how it has compared to past years. I’m also quoted in the article saying, “Starter condominiums ranging from $120,000 to $200,000 in ChittendenCounty are options for first-time buyers” -Nancy Housing in Vermont becomes less affordable

Published: Thursday, March 1, 2007
By Dan McLean
Free Press Staff Writer

ESSEX -- Darlene Kelleher and her husband, Pat, described their housing search Wednesday afternoon as they sat around the kitchen table in her parents' Essex home.

The couple is house hunting in ChittendenCounty during the least affordable time to buy a home since at least 1994, according to Stephen Allen, a principal at Allen & Brooks, a real estate analyst firm in South Burlington. ..(read more)

Vermont Homestead Declaration and Property Tax Adjustments

We just wanted to remind you that the Vermont Homestead Declaration and Property Tax Adjustments forms are almost due. All homeowners must complete this form by April 17th, 2007. The new form HS-122, now replaces the following three forms; HS-131, Declaration of Vermont Homestead; HS-138, Education Property Tax Payment Application; and HS-139, Property Taxes Rebate Claim. The print version of this form can be found here. To fill this form out online, click here. If you have any question, you can call the Vermont Department of Taxes Homestead Declaration department at 1-866-828-2865 -Nancy

RSVP of Chittenden County

Our Friends at The United Way of Chittenden County are looking for volunteers to help with their RSVP of Chittenden County program. RSVP offers persons 55 years of age and over personalized one-to-one help to connect with meaningful volunteer opportunities in the community. For more information please visit the RSVP of Chittenden County webpage by clicking here. -Nancy

BurlingtonFreePress.com, State ranks high in education survey

Educators encouraged as results come out. In an article published by the Burlington Free Press, on Education Week’s annual Quality Counts report, Vermont has been ranked third behind New Jersey and Massachusetts for academic achievement and ninth on a chance-for-success index. Results are based on National Assessment of Educational Progress, the federally mandated standardized test. Richard Cate, Vermont Education Commissioner states, “I think it indicated that we have been and continue to be poised to have a very successful population, a successful work force, all those things – in terms of the people that are coming out of are education system and just society in general.” To view the report, click here. -Nancy State ranks high in education survey
Published: Friday, January 5, 2007
By Molly Walsh
Free Press Staff Writer Vermont public school students perform near the top nationally and have a relatively good ..(read more)

Burlingtonfreepress.com, Vermont’s Grand List

The Vermont grand list has been released and a report has been published by the Burlington Free Press. Some interesting notes: the number of million-dollar properties has more than doubled from two years ago. And, the total Vermont property value is over $65 billion which includes 338,275 parcels. To read more and to view the report, click here.
-Nancy

Reuters.com, Minnesota deemed healthiest, Louisiana worst

Fresh off the Self.com report of our nations’ healthiest cities comes’ a Reuter’s report on the nations’ healthiest states. We are happy to report Vermont was ranked number 2, just behind Minnesota. Similar to the Self.com report, New England cities and states rank very well, while southern states tend to be found towards the bottom of the lists. Some of the factors this report was based on include; prevalence of obesity, smoking, infectious disease, cardiovascular deaths, infant mortality, child poverty, immunization rates, workplace deaths and auto deaths. Rounding out the bottom of the list is Louisiana, where Hurricane Katrina was a major factor. -Nancy

Minnesota deemed healthiest, Louisiana worst
Tue Dec 5, 2006 2:35pm ET

By Will Dunham

WASHINGTON (Reuters) - Minnesota was deemed the healthiest U.S. state for the fourth year in a row, while Louisiana slumped into last place as the least healthy in ..(read more)