May 2011: Numbers. Trends. Tips. More.

May Market Report and Newsletter

Montpelier, Barre, U-32, Northfield

Here are the unofficial real estate numbers for April, 2011.

All month, it felt as if the inventory just wasn’t there.  Buyers were looking for homes, and a lot couldn’t seem to find the right one.  I thought perhaps that there just weren’t as many properties for sale as there were last year, and I thought I should do a little digging.

Now the conversation gets more interesting.  Inventory is basically the same as last year at this point.  That’s the kind of stability that’s good to see in a real estate market.  The big change over the past two years is the total number of market sales.  Down from 300 last year to 238 this year (April to April).  Are we out of the “correction” that’s been going on since 2007?  Who knows. Also, this is just one month’s report. I’m going to keep my eye on that number. Which means you are too.

Get to the Point!  If you’ve ever read through a Sellers Property Information Report (commonly referred to as the seller’s disclosure), you may have realized that a lot of what’s on those pages isn’t the information you really want to know.  So, while I always encourage the use of the property information report, I have a shorter version too. It’s only 12 questions. Go to www.MontpelierBarreRealEstate.com or to Heney Realtors on Facebook for the whole short list. You’ll find some of the most frequently asked questions that buyers have.  Why not just get these answers right from the start?  What an idea.

Green and Green: With heating oil prices coming up on $4 a gallon, energy efficiency is once again coming to the front of the minds of buyers and sellers.  You might think about getting an energy audit done, and then see what improvements are suggested.  I’ve heard people say that no one cares about energy efficiency, and that heating a house with 300 gallons of oil doesn’t translate into a higher market value. 

That’s just not true.  It matters.  It makes a difference in the operating expenses of multi-family properties, so that’s kind of a no-brainer.  But it also matters to homeowners.  It can make the difference between whether a house is affordable or not.  It can also make a home more desirable, in the same way that an updated kitchen makes a home more desirable. Buyers always ask about the utilities. Always.

Oh, you want numbers.  You’re not satisfied with my anecdotes?  That’s why I like you! I read in an appraiser’s trade publication that for every $1 reduction in fuel use, a home’s value increases $10-$25.  Even using the lowest number, if oil use dropped from 600 gallons to 400 gallons, that’s a savings of $800 per year.  There’s $8000 of value right there.

 Real Estate Quote of the Month:  “The perfect house is one that’s just out of someone’s price range.”—Anonymous.  And cynical.

Plant Sale:  Barre City Elementary and Middle School’s PTO is holding its annual Plant Sale May 21 from 7:00-2:00 at the school.  I’m told that some of the Plant Sale will be outside on the circle, and some of it will be inside the building. It’s a great opportunity to get spring’s plantings off to a good start. Plus, you can get tips, ideas, and suggestions (for anyone who’s there at 7:00, I hope you can get coffee too). All this while supporting a good cause. Contact the school at 476-6541 for more information.

Crops By Kids:  Barre Town Elementary and Middle School has been working hard on this year’s student garden.  It moved across the street last year (I have it from a reliable source that moving a garden is actually a lot of work, best performed by eager high school students).  The Crops By Kids program lets students get their hands dirty and really get involved in the gardening process.  Then, come Fall, the returning students get to enjoy their harvest. Contact the school at 476-6617 for more information.

Neither Paper Nor Plastic:  Montpelier merchants are doing their part to get shoppers to skip using disposable bags.  They’re donating 5 cents each time a shopper doesn’t use a bag.  The donation recipients rotate monthly, but recent organizations have included the Humane Society, the Children’s Literacy Foundation, and the Montpelier Food Shelf.

Sold in April:  These are the MLS sales that took place in April.  As much as I’d like to imply that our office did all of these transactions, the truth is that these are just all of the area sales.  Although we were involved in several of them…

Address                               Town                     Sale Price            Days on Market

44 Chandler Road               Berlin                  $65,000                  135

23 Eastern Ave                  Barre City            $114,000                117

207 King St                       Northfield           $119,900                 414

6 Newton St                      Barre City           $118,000                 27

77 Hill St                           Montpelier          $129,000                 122

25 Hall St                          Barre City           $145,900                 206

10 Delmont Ave                   Barre City          $148,000                 250

18 Liberty St                       Montpelier         $150,000                 19

9216 County Rd                   Calais                $165,000                250

1111 Airport Rd                    Berlin                 $150,000               256

51 Windy Wood                    Barre Town         $184,900               329

16 Towne St                       Montpelier           $293,000               116

6 Phelps Rd                         Barre Town          $379,000               20    

                                (was on for six months before)

47 Wildersburg                     Barre Town          $159,900                16

Quick Tip for Sellers:  If you’re looking to make inexpensive upgrades to help sell your house, think about the things people touch.  Replacing light switches, doorknobs, and cabinet knobs can make a subtle difference, and they don’t cost too much.

Quick Tip for Buyers:  Brace yourself for the home inspection report.  It’s going to be thorough, and it’s going to be a little daunting. Remember that the flawless house does not exist. Even brand new homes can have things show up on the inspection report.

Quick Tip for Fun:  Take the local real estate quiz on the Heney Realtors page on Facebook. See if you can nail all five questions.  While you’re there, go ahead and like it…because you know you do.

As always, if you know anyone who’s looking to buy or sell in the area, please keep me in mind.  Call or email if you know anyone who just has to get their hands on this newsletter. I’ll make sure they get it.