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Real Estate Market Update for Southern Vermont Deerfield Valley

If you're reading this week's blog, you must be a little curious about the real estate market in Vermont, specifically the Deerfield Valley / Mount Snow area.

Since most of what I have to say is pretty dry I thought I'd open with a joke:

Reaching the end of a job interview, the Human Resources Officer asks a young loan officer, "And what starting salary are you looking for?" The loan officer replies, "In the region of $125,000 a year, depending on the benefits package."

The interviewer inquires, "Well, what would you say to a package of five weeks' vacation, 14 paid holidays, full medical and dental, company matching retirement fund to 50% of salary, and a company car leased every two years, say, a red Corvette?" The loan officer sits up straight and says, "Wow! Are you kidding?"

The interviewer replies, "Yeah, but you started it."

Windham County has seen the average sale price of a single family home increase, by 9.9% from a year ago, according to Vermont Realtors. With the average selling price of $235,743 compared to $214,534 in 2014. Condos are not faring as well dropping 9.6% in price as compared to last year.

That means there are still some great deals on condominiums this fall but you'll have to move it.  Average days on the market for a condo in July of 2015 are 125. Last July the average days on the market was 231. People are figuring it out. Take advantage of the "Buyers' Market" get a condo now, so you can enjoy the skiing that Mount Snow and the Hermitage Club this winter.

If you're thinking of selling your property remember that For Sale by Owners (FSBO's) average sale price is $208,700 compared to $235,000 (in 2014) for agent-assisted home sales, nationwide.  Also according to the National Association of Realtors, the most difficult tasks for FSBO's is understanding & performing paperwork, getting the price right and preparing / fixing up the home, to name a few.

A Realtor will:

·         Professionally market your home using the MLS (Multiple Listing Service) and countless other sources of online real estate marketing.
·         Qualify buyers before they visit your home.
·         Negotiate the best deal for you, assist with counter offers, help resolve issues and remain objective in dealing with buyer concerns.
·         Negotiate inspection results.
·         Familiarize you with closing procedures in advance and attend the even to ensure a successful closing.

 

If you would like some information to help you with pricing, we would be happy to drop off a "neighborhood market analysis" for you. This analysis will give you a good idea of what's currently on the market and what has recently sold in your area. If this interests you, then give us a call and we will get one over to you- completely free & no strings attached.

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