Century 21 Farm and Forest Realty Blog

Obama expected to sign Bill to extend First Time Homebuyer Tax Credit Deadline

noreply@blogger.com (Century 21 Farm & Forest Realty) — Fri, 02 Jul 2010 12:35:00 +0000

The Senate has passed a bill extending the timeline for first time home buyers to close and still qualify for the tax credit. With Obama's signature the deadline to close will be extended from June 30, 2010 to September 30, 2010. The deadline for buyers to get into a purchase & sales contract was April 30th, 2010 so this extension only applies for those currently under contract who met this first deadline but are waiting to close.

Correction to First Time Home Buyer Extension

noreply@blogger.com (Century 21 Farm & Forest Realty) — Thu, 24 Jun 2010 12:13:00 +0000

CORRECTION - I was informed that the first time home buyer extension may not have been passed yet. The source said they would be voting on it today. Leahy's office stated that it has but seeing this is conflicting, we don't want to mis-inform. At this point we are waiting for answers and will update you as soon as we hear more! Sorry for the confusion.

First Time Home Buyer Deadline extended!!

noreply@blogger.com (Century 21 Farm & Forest Realty) — Tue, 22 Jun 2010 20:44:00 +0000

Great News for 1st Time home buyers who are scrambling to try and close their deals by the end of the month to capture the $8K tax credit - From VAR News "Senator Patrick Leahy’s office has announced that the deadline for closings for those who took advantage of the Home Buyer Tax Credit has been extended until October 1. This would allow only those contracts that were signed before April 30 to have time to close."

Century 21 Farm & Forest Brings Home Awards

noreply@blogger.com (Century 21 Farm & Forest Realty) — Tue, 16 Mar 2010 12:46:00 +0000

On March 4th, Century 21 Farm & Forest attended The Annual Gold Awards to recognize success from 2009. The Office brought home a prestigious awards - #2 Century 21 Agency in the State of Vermont!

Our Agents also brought home the following:

Two Million Dollar Producers: Annette Dalley, Peter Lanoue & Stephen Peacock

Three Million Dollar Producers: Dan Maclure, Cindy Sanville & Constance Isabelle

Four Million Dollar Producer: Nicholas Maclure

Finally, Cindy Sanville was awarded the # 4 Century 21 Agent in the State based on Units Sold, and Nicholas Maclure was awarded the # 2 Century 21 Agent in the State based on Adjusted Gross Commission and the #1 Century 21 Agent in the State based on Units Sold.

Gift Boxes for Our Troops!

noreply@blogger.com (Century 21 Farm & Forest Realty) — Thu, 28 Jan 2010 16:28:00 +0000

Century 21 Farm & Forest Realty Inc Team put together 16 boxes for our troops in Afghanistan. The entire team worked on packing these boxes after our Tuesday Sales Meeting. Every agent provided one item for each box and local companies also made donations of goods. Some of the items shipped include maple syrup, beef jerky, lotion, shaving cream, razors, tooth paste & brushes, stationery & pens, home-baked goods, and local newspapers. The boxes contained about 10 pounds of goods, and the company provided the postage. Great job, Team! We want to continue supporting our troops. If you have a loved one overseas, email us or stop by our office with their address!

Special Thanks to:

Border Farm Maples

Dale & Joy Maple
VT Beef Jerky Co.

VT Ski Association
Jay Peak Resort

Newport Daily Expres

The Chronicle

Bag Balm Co.

Danville Dental Group

10 Reasons Why You Should Own Real Estate

noreply@blogger.com (Century 21 Farm & Forest Realty) — Wed, 13 Jan 2010 15:00:00 +0000

10. Buy real estate, enjoy your real estate, play on your real estate, work on your real estate! Harvest your retirement when the time is right and keep your profit instead of giving it to some greedy CEO. Be in control of your retirement! There won’t be a bail-out for people like us!

9. The interest you pay every month on your primary residence (home) is tax deductible! The rent you pay every month for a place you call home is not! Therefore if your income is steady you may actually be able to have less tax withheld from your paycheck and bring home more on a monthly basis.

8. Real estate investment properties can provide you with an income, and you can depreciate the building value over time, saving you thousands of dollars on your income tax. Wouldn’t you rather “Madoff” with your own money?

7. From now until June 30th, 2010, if you are a first-time homebuyer you could get up to $8,000 Federal Tax Rebate. You must enter into a Purchase And Sale Contract by April 30, 2010. There is now also a repeat homebuyer credit of $6500. Is it worth passing up this very generous gift from Uncle Sam?

6. Currently we are in a Buyer’s Market! A large real estate inventory makes this a great time to buy. Would you rather buy when prices are down and you have a lot of choices or wait until prices are high and there is a lack of choices to choose from?

5. Interest rates are at historic lows. Many of us remember the early 80’s when interest rates were 12-15% and even 20%. Rates in the vicinity of 5% are amazing! Did you know the monthly payment on a 30-year, $100K mortgage at 5% interest is only $536.80?

4. Buy a home today and watch the equity in your home grow. It’s conceivable if you purchase a home in this market to see the values of your home double in 5-10 years. What about the new car you’re making payments on? What will that be worth in 5 years?

3. The best investment on earth is earth itself and in case you haven’t heard, they aren’t making any more land. As the world’s population grows, earth remains the same size, making land one of the most important commodities. Wouldn’t you like to have a parcel of land to call your own?

2. If you have lived in your primary residence for more than two years you can sell your home and keep up to a $500k profit without paying any income tax! Do you know of anything else where you can make $500,000 and pay no tax?
1. A recent federal reserves survey states that the average net worth of a homeowner is $234K. That is nearly 46 times that of a renter who has an average net worth of $5,100. Which category would you like to be in?

Local Realtors Raise $6000 for local charities

noreply@blogger.com (Century 21 Farm & Forest Realty) — Mon, 04 Jan 2010 14:42:00 +0000

The Orleans Country Board of Realtors Hosted thier Annual Holiday Auction / Party last month. Each Realtor donates a gift to be auctioned off and the proceeds are donated to local charities. This year $1500 was given to each of the following: The Area Agency on Ageing for Northeastern, VT, The North Country Supervisory Union's Early Childhood program, and both the Orleans Federated Church and the United Church of Newport to support their food shelves. We commend our Realtors for their efforts and genorousity. Furthermore, we would like to thank the local business and community for their donations and / or coming to the event and purchasing items.

Barry Sykes Joins the Century 21 Farm & Forest Team

noreply@blogger.com (Century 21 Farm & Forest Realty) — Mon, 14 Dec 2009 13:58:00 +0000

All of us at Century 21 Farm & Forest Realty Inc would like to welcome BARRY SYKES to our team!! Barry is a native of the Kingdom having grown up on a local dairy farm. He earned a Business Degree from Lyndon State College and has concentrated on marketing and sales during the past two years. Let him put his hard-work ethic to work for you! He will be working out of both our Derby and Burke offices and can be reached via email at Barry@FarmAndForest.com. Give him a call to welcome him aboard and assist you in buying or selling your piece of the Kingdom!!

BREAKING NEWS: Obama Signs Homebuyer Tax Credit Extension

noreply@blogger.com (Century 21 Farm & Forest Realty) — Sat, 07 Nov 2009 00:42:00 +0000

RISMEDIA, November 6, 2009—President Barack Obama has approved the first-time homebuyer tax credit extension which will extend the tax credit until April 30, 2010.

The extension is part of a $24 billion economic stimulus bill that will extend the $8,000 tax credit for homebuyers who are purchasing their first home from the current November 30 deadline and expands the program to offer a credit of $6,500 to homeowners who have lived in their current home for at least five years and are seeking to relocate.

The following details apply to the homebuyer tax credit expansion:

Who is Eligible
-First-time homebuyers, who are defined by the law as buyers who have not owned a principal residence during the three-year period prior to the purchase, may be eligible for up to an $8,000 tax credit.
-Existing homeowners who have been residing in their principal residence for five consecutive years out of the last eight and are purchasing a home to be their principal residence (“repeat buyer”), may be eligible for up to a $6,500 tax credit.
-All U.S. citizens who file taxes are eligible to participate in the program.

Income Limits
-Homebuyers who file as single or head-of-household taxpayers can claim the full credit ($8,000 for first-time buyers and $6,500 for repeat buyers) if their modified adjusted gross income (MAGI) is less than $125,000.
-For married couples filing a joint return, the combined income limit is $225,000. -Single or head-of-household taxpayers who earn between $125,000 and $145,000, and married couples who earn between $225,000 and $245,000 are eligible to receive a partial credit.
-The credit is not available for single taxpayers whose MAGI is greater than $145,000 and married couples with a MAGI that exceeds $245,000.

Effective Dates
-The eligibility period for the tax credit is for homes purchased after Nov. 6, 2009, and before May 1, 2010. However, home purchases subject to a binding sales contract signed by April 30, 2010, will qualify for the tax credit provided closing occurs prior to July 1, 2010. Types of

Homes that Qualify
-All homes with a purchase price of less than $800,000 qualify, including newly-constructed or resale, and single-family detached, townhomes or condominiums, provided that the home will be used as their principal residence. Vacation home and rental property purchases do NOT qualify.

Tax Credit is Refundable
-A refundable credit means that if the amount of income taxes you owe is less than the credit amount you qualify for, the government will send you a check for the difference.
-For example: -A first-time buyer who qualifies for the full $8,000 credit who owes $5,000 in federal income taxes would pay nothing to the IRS and receive a $3,000 payment from the government. If you are due to receive a $1,000 refund, you would receive $9,000 ($1,000 plus the $8,000 first-time homebuyer tax credit).
-A repeat buyer who owes $5,000 would pay nothing to the IRS and receive $1,500 back from the government. If you are due to get a $1,000 refund, you would get $7,500 ($1,000 plus the $6,500 repeat buyer tax credit).
-All qualified homebuyers can take the tax credit on their 2009 or 2010 income tax return.

Payback Provisions
The tax credit is a true credit. It does not have to be repaid unless the home owner sells or stops using the home as their principal residence within three years after the purchase.

The www.federalhousingtaxcredit.com site is being updated. Check the site next week for more detailed information on the new tax credit.

For more information, visit www.nahb.org.

http://newsletter.rismedia.com/newsletters/preview/2028/59729/1058295

Pending Home Sales Increase for the 6th Month in a Row!

noreply@blogger.com (Century 21 Farm & Forest Realty) — Wed, 02 Sep 2009 13:25:00 +0000

RISMEDIA, September 2, 2009

"—Contract activity for pending home sales has risen for six straight months, a pattern not seen in the history of the index since it began in 2001, according to the National Association of Realtors®.

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in July, increased 3.2% to 97.6 from a reading of 94.6 in June, and is 12.0% higher than July 2008 when it was 87.1.The index is at the highest level since June 2007 when it was 100.7.

Lawrence Yun, NAR chief economist, said the housing market momentum has clearly turned for the better. “The recovery is broad-based across many parts of the country. Housing affordability has been at record highs this year with the added stimulus of a first-time buyer tax credit,” he said. “Other buyers are taking advantage of low home values before prices turn higher. Nationally, the typical mortgage payment now takes less than 25% of a middle-income family’s monthly income to buy a median priced home, with payment percentages so far in 2009 being the lowest on record dating back to 1970. As long as home buyers stay within their budget, mortgage payments will be very manageable,” Yun said.

NAR estimates that about 1.8 to 2.0 million first-time buyers will take advantage of the $8,000 tax credit this year, with approximately 350,000 additional sales that would not have taken place without the credit. Buyers have little time to act because they must complete the transaction by November 30, 2009 to qualify for the credit. Unless extended, contracts signed but not completed by that date will not be eligible- it is taking approximately two months to complete home sales in the current market.

The Pending Home Sales Index in the Northeast declined 3.0% to 78.8 in July but is 4.7% higher than July 2008. In the Midwest the index slipped 2.0% to 88.1 but is 8.1% above a year ago. In the South, pending home sales activity rose 3.1% to an index of 103.8 in July and is 12.0% above July 2008. In the West the index jumped 12.1% to 112.5 and is 20.0% above a year ago.
NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth, said Congress needs to keep the momentum going. “Even with a good recovery taking place, the market is not yet back to normal. With a gradual absorption of inventory, we are on the cusp of a general stabilization in home prices,” he said. “To ensure that housing has a broad stimulus to the overall economy and stays on sound footing, we’re encouraging Congress to extend the tax credit into 2010, and to expand it to all buyers of primary residences. The faster we stabilize home prices, the fewer families will face foreclosure and the quicker credit can be extended to other sectors of the economy,” McMillan said.

NAR’s Housing Affordability Index (HAI) stood at 158.5 in July, below the peak set in April but is still 36.0 percentage points higher than a year ago. The HAI is a broad measure of housing affordability using consistent values and assumptions over time, which examines the relationship between home prices, mortgage interest rates and family income.

Yun expects existing-home sales to rise through the fourth quarter. “Unless the tax credit is extended, no one should be surprised to see home sales drop in the first quarter of next year,” he said. “However, the fundamentals of the housing market and the economy are trending up, and we expect home sales to generally pick up in the second quarter of 2010. The buyer psychology may be shifting from, ‘Why buy now when I can purchase later,’ to ‘I don’t want to miss out on a recovery.’”

For more information, visit http://www.realtor.org/. "
Read more: http://rismedia.com/2009-09-01/pending-home-sales-on-a-roll-up-for-sixth-straight-month/#ixzz0PxJUnwVu

Pending Home Sales Increase Again!

noreply@blogger.com (Century 21 Farm & Forest Realty) — Tue, 11 Aug 2009 18:26:00 +0000

Over the past week, Century 21 Farm & Forest has put 15 properties under contract. Market activity has picked up substantially and based on the stats above and below, buyers are making their moves!

News Reported from VAR below.

PENDING HOME SALES UP AGAIN (WASHINGTON) – NAR reports pending home sales were up for a fifth consecutive month in June, rising 3.6 percent to 94.6 from May. The index was 6.7 percent above June 2008, when it was 88.7. It was the fifth consecutive month the Realtors have reported improvement in pending home sales.Chief Economist Lawrence Yun said activity had been strong in the lower-priced categories. "Because it may take as long as two months to close on a home after signing a contract, first-time buyers must act fairly soon to take advantage of the $8,000 tax credit because they must close on the sale by November 30,” he said.

AP SAYS GAP BETWEEN RENTING AND BUYING NARROWING (NEW YORK) – An Associated Press analysis of 45 metro areas has found the gap between owning a home and renting one is about $221 per month, an indication, it says, that more renters may soon make the leap to homeownership. The wire service survey found that in Cleveland, Atlanta, Indianapolis and St. Louis the gap was less than $100 per month. It predicted that with home prices still declining, that gap would narrow further. The AP noted that the $8,000 first-time homebuyer incentive plan, as well as affordability, should help the housing market improve for the remainder of the year.

Nick Maclure named 2009 OCBR REALTOR OF THE YEAR

noreply@blogger.com (Century 21 Farm & Forest Realty) — Thu, 02 Jul 2009 13:46:00 +0000

Nick Maclure was awarded the 2009 Orleans County Board of Realtors, Realtor of the Year. The title is decided by the votes of our fellow Realtors. Nick stated that he was very surprised and honored. It is nice to know you are respected by the people you work with. Nick also received the honor of being the #2 Century 21 salesman in the State of Vermont in terms of units sold for 2008.

BLOOD DRIVE - Wednesday July 8th - Newport

noreply@blogger.com (Century 21 Farm & Forest Realty) — Thu, 02 Jul 2009 13:39:00 +0000

The Orleans County Board of Realtors is sponsoring a Blood Drive at the Gateway Center in Newport Vermont on Wednesday July 8th from 11:30 to 5PM. Lunch is provided as is a coupon for a free carton of Friendly's Ice Cream. Also, enter for a chance to win 2 BOSTON RED SOX tickets. Walk-in or Appointment. Call Kristi @ 800-843-3500 ext. 3265 for appointments.

Come give the gift of life and enjoy some time on the shore of Lake Memphremagog.

BREAKING NEWS - Pending Home Sales Up for Three Months in a Row

noreply@blogger.com (Century 21 Farm & Forest Realty) — Wed, 03 Jun 2009 11:46:00 +0000

Daily Real Estate News June 2, 2009

Pending Home Sales Increase
The Pending Home Sales Index , a forward-looking indicator based on contracts signed in April, rose 6.7 percent to 90.3 from a reading of 84.6 in March, and is 3.2 percent above April 2008 when it was 87.5.

Lawrence Yun , NAR chief economist, said buyers are responding to very favorable market conditions. “Housing affordability conditions have been at historic highs, but now the $8,000 first-time buyer tax credit is beginning to impact the market,” he said. “Since first-time buyers must finalize their purchase by November 30 to get the credit, we expect greater activity in the months ahead, and that should spark more sales by repeat buyers.”

Geographical Breakdown
Northeast: The Pending Home Sales Index shot up 32.6 percent to 78.9 in April and is 0.8 percent above a year ago.
Midwest: The index rose 9.8 percent to 90.4 and is 11.1 percent above April 2008.
South: The index slipped 0.2 percent to 93.0 in April but is 3.5 percent higher than a year ago.
West: The index rose 1.8 percent to 94.8 but is 2.9 percent below April 2008.

NAR President Charles McMillan said there are numerous buyer assistance programs around the country. “Some states are offering bridge loans that allow first-time buyers to use the tax credit for downpayment and closing costs, but there are many other local government and nonprofit programs available to buyers, depending on location,” he said.

“Just last week, HUD announced that qualifying buyers can use the tax credit for closing costs on FHA loans, to buy down the interest rate or make a larger down payment. Buyers who are wondering about their options should contact a REALTOR, who can advise consumers on the housing assistance programs and resources available in a given area.”

Affordable Housing
NAR’s Housing Affordability Index is in record territory. The affordability index rose to 174.8 in April from an upwardly revised 171.9 in March, which makes it the second-highest monthly reading on record after peaking at 176.9 in January of this year. The HAI is a broad measure of housing affordability using consistent values and assumptions over time, which examines the relationship between home prices, mortgage interest rates and family income.

A median-income family, earning $60,900, could afford a home costing $296,800 in April with a 20 percent down payment, assuming 25 percent of gross income is devoted to mortgage principal and interest. Affordability conditions for first-time buyers with the same income and small down payments are roughly 80 percent of that amount. The affordable price was well above the median existing single-family home price in April, which was $169,800.

Pending Vs. Existing Sales
Yun cautions that the reporting sample for pending home sales is smaller than that of existing-home sales, so it is subject to greater variability. “In addition, the relationship between contracts on pending home sales and closings on existing-home sales is taking longer than in the past for several reasons,” he said. “Mortgage processing time has increased, it is taking many months to close on those homes requiring short sales with lender approval, and some sales are falling through at the last moment.”

The total number of existing-home sales is expected to improve but with dramatic local market variation in the timing of recovery. “The market has already bottomed in some areas, but this is an unusual housing cycle with some areas improving rapidly while others languish or decline,” Yun said.

Existing-home sales for May will be released June 23. The next Pending Home Sales Index will be on July 1.

Source: NAR (06/02/09)

$8K Tax Credit Applied to Down Payment.

noreply@blogger.com (Century 21 Farm & Forest Realty) — Mon, 01 Jun 2009 12:21:00 +0000

HUD releases details of $8,000 credit for down payment

(WASHINGTON) – Housing Secretary Shaun Donovan has formally announced details of the agency’s plan to allow first-time homebuyers to apply the $8,000 tax credit to their downpayment on FHA-backed homes.

Buyers will not be able to use the credit as their entire down payment. Buyers using FHA-approved lenders can apply the tax credit to their down payment in excess of 3.5 percent of appraised value or their closing costs, which can help achieve a lower interest rate.

“We believe this is a real win for everyone,” said Donovan. “Today, the Obama Administration is taking another important step toward accelerating the recovery of the nation's housing market. Families will now be able to apply their anticipated tax credit toward their home purchase right away.”

New Burke Location!!

noreply@blogger.com (Century 21 Farm & Forest Realty) — Thu, 02 Apr 2009 12:59:00 +0000

Century 21 Farm & Forest Realty Expands to Burke, VT.

Century 21 Farm & Forest would like to announce that Annette Dalley, formerly of the Peter D Watson Agency, has joined our team and will be operating our new Burke Office in the same location as the former Peter D. Watson Agency. We are very excited about this news. Annette is a top performing agent and is now associated with the top selling firm in the Northeast Kingdom as well as the most recognized Real Estate Brand in the world.
Century 21 Farm & Forest looks forward to expanding our coverage further into the Caledonia County and offering its residents the same high level of quality service that we have done for many years out of our Derby office.

2008 Awards Cerimony

noreply@blogger.com (Century 21 Farm & Forest Realty) — Thu, 02 Apr 2009 12:34:00 +0000

Century 21 Farm & Forest Realty Brings Home Awards.

Century 21 Farm & Forest attended Century 21’s Annual Gold Awards in Burlington, VT on March 18th. Century 21 Farm & Forest Realty is proud to announce that they placed 2nd in the state in both Adjusted Gross Commission and Closed Units. Dan Maclure, Stephen Peacock, and Connie Isabelle received Two Million Dollar Awards. Cindy Sanville received a Four Million Dollar award as well as a Masters Ruby. Nicholas Maclure also received a Four Million Dollar award as well as recognition for the number 2 agent in the state based on Closed Units. Century 21 Farm & Forest would like to congratulate the team for their performance and is looking forward to the rest of this year as it is off to a great start.

Want $8000?

noreply@blogger.com (Century 21 Farm & Forest Realty) — Thu, 19 Feb 2009 19:43:00 +0000

Wow, Now I wish I didn't already own a house. If you are considering buying a home this year you may be able to qualify for up to an $8000 tax credit (credit or refund) if you purchase a home before Decemeber 31, 2009. This is huge! There are income caps but they are quite high. Furthemore, you can't have owned a home within the last 3 years. Therefore, it is geared towards first time home buyers, but not necessarily restricted to.

With amazing interest rates, great inventory, lenders with ample money to lend, and now an $8,000 insentive, what are you waiting for? Give us a call or send us an email to find out more information on the stimulous package.

Please review the following link for more details: http://www.federalhousingtaxcredit.com/

Building Wealth with Real Estate / Real Estate Seminar

noreply@blogger.com (Century 21 Farm & Forest Realty) — Fri, 30 Jan 2009 15:16:00 +0000

REAL ESTATE SEMINAR

Building Weath with Real Estate

February 18, 2009 ~ 6:00pm-8:30pm
Eastside Restaurant, Newport VT

“90% of all millionaires became so through real estate.” – Andrew Carnegie

Everyone is welcome whether you are a first-time homebuyer wondering where to start or looking to downsize or move up in size. This seminar will help you make the right decisions. There will also be a section on becoming your own boss, purchasing your own business or income producing properties. Invest in your future.

Home Ownership

· Sue Ryan, Century 21 Mortgage** – Credit score & how to improve it
· Don Hunt, Pat Hunt Inc – $7,500 tax credit & tax advantages
· Steve Campbell, Rural Development – Available federal programs
· Ellen Stanley, Passumpsic Bank – Today’s interest rates

**You may RSVP Sue Ryan for your credit score review by calling 800.318.0823

Commercial Investments & Income Producers

· Patrick Calecas & Brandon Poginy, C.N.B.– Loan to value
· Don Hunt, Pat Hunt Inc – Tax advantages
· Steve Campbell, USDA - Government programs
· John Freeman, NCIC - Additional assistance programs

Conversations with individuals who’ve succeeded with Real Estate

Local lenders will be on hand to guide you in building wealth with real estate: Community National Bank, Passumpsic Savings Bank, Chittenden Bank, Century 21 Mortgage, MetLife Home Loan, TD-BankNorth, & others

A $10.00 donation at the door goes to the Northeast Kingdom Food Shelf. Door prizes will also be given away by each of the lenders

Sponsored by Century 21 Farm & Forest Realty
Leading the way in the Northeast Kingdom!
For more information call 802.334.1200 or email Info@FarmAndForest.com
RSVP Greatly Appreciated! Thank You!

http://www.farmandforest.com/

2008 Realtor Christmas Auction Raised $3800 For Charity

noreply@blogger.com (Century 21 Farm & Forest Realty) — Wed, 21 Jan 2009 22:18:00 +0000

The 2008 REALTOR Christmas Auction Raised $3800 for local charities.

Northeast Kingdom Human Services Received $1500
Agency on Aging Received $1500 for fuel assistance
Orleans Federated Church Food Shelf Received $400 plus non perishable food donations
United Church Newport Food Shelves Received $400 plus non perishable food donations

Thank You to all that attended this great event! A good time was had by all and the contributions really help our community! Your generosity is greatly appreciated!

Thinking about Buying???

noreply@blogger.com (Century 21 Farm & Forest Realty) — Wed, 07 Jan 2009 14:54:00 +0000

The following is an excerpt from an article that was written by a VT lender and it hits some great points!

"Mortgage rates should stay in a range of 4.5-5.5% with rates moving higher as the year moves along. In the first quarter of this year we will experience the lowest rates that we could possibly see in our lifetime. That is definitely something to think about!

With low home prices and historically low rates, buyers will be able to get once in a lifetime deals especially those who plan on staying in their home for the long term. We feel the coming year will provide much opportunity for those of us still in the business who are willing to work hard and stay positive. As Barry Habib from MMG says, 'The question is not who is going to let you be successful… it’s who is going to stop you.'"

Written By,

Michael Blanchard
Residential Loan Advisor
EXCELLENCE is OUR BENCHMARK!

164 Main Street, Suite 101
Colchester, VT 05446
Office: 802-288-1111
Mobile: 802-782-9348
Fax: 802-288-1112
Michael@NoFussLoansVT.com
http://www.nofussloansvt.com/

New Smoke / Carbon Monoxide Detector Guidelines!

noreply@blogger.com (Century 21 Farm & Forest Realty) — Mon, 15 Dec 2008 18:48:00 +0000

Regulations regarding smoke detectors are changing on January 1, 2009.

The following is a summery of the new requirements, attached are: a copy of the new certificate of compliance form which should be completed at closing, a summery of the smoke detector bill (S.226) as prepared by the Vermont legislative councils office, and links to the division of fire and safety’s website where you can find additional information.

Legislation passed last session requiring that at the time of sale of residential property Photoelectric-only type smoke detectors need to be placed in the vicinity of bedrooms with at least one on each floor, will take effect January 1st 2009. These new regulations also require that a Carbon Monoxide detector be placed in the Vicinity of bedrooms with at least one on each floor. These detection units must be installed to the manufactures requirements. For the purpose of meeting this statute Combination Photoelectric/Ionization Smoke detectors will not meet the requirements of this statute, However Combination Photoelectric/Carbon Monoxide Detectors will. This Statute will take effect January 1st 2009.

If a home is newly constructed or was constructed after 1994 the Detection units need to be hardwired into the homes electric supply. This reflects when state building codes began to require newly constructed homes be hard wired with smoke detectors. Detectors must be properly installed to the manufactures requirements. This means that for older homes built before 1994 detectors can be solely battery operated and forego the hardwiring process if installation requirements of the manufacturer are met.

For the purpose of complying with this statute Photoelectric-only-type detectors will be counted. Combination Photoelectric/Ionization detectors will not meet the requirements of this statute. Much testimony was given to the differences in response times of the detectors compared with each other, and in what types of fires they preformed best. Photoelectric detectors detect smoldering fires minutes faster than ionization detectors do. Smoldering fires happen to be the deadliest fires as well. In the interest of safety it is important people have the most amount of time to react to a fire as possible.

Combination Photoelectric/Carbon monoxide detectors will meet this statute. These units can be used in conjunction with one another. It is important to note the average healthy life span for a smoke detector is 10 years and for a carbon monoxide detector its 5 years, therefore combination photoelectric/carbon monoxide units should be replaced every 5 years.

This Act requires that at the point of sale a home must meet this statute; if it does not, the buyer has 10 days to notify the seller of the noncompliance. At which point the seller has 10 days to comply with this statute. This law will take effect January 1st 2009.

2008 REALTOR HOLIDAY AUCTION

noreply@blogger.com (Century 21 Farm & Forest Realty) — Tue, 09 Dec 2008 21:28:00 +0000

Century 21 Farm & Forest Realty would like to invite everyone to the 2008 REALTOR Holiday Auction Thursday, December 11th at the Eastside Restaurant in Newport, VT at 6:30PM! All money raised will go purchase food for local food shelves, gifts for children, and elderly support! Each Realtor & Office purchase gifts to be auctioned so it is a great chance to do your last minute holiday shopping.

Come join us for a great time and a great cause. Please bring one non perishable food item per individual! If you can't attend and would like to donate a gift to be auctioned or funds, please get them to our office before Thursday evening!

We wish you all a happy and safe Holiday season and thank you for supporting our locals!

Sincerely,

Nicholas Maclure
Broker

Winter 2009 Catalog ONLINE

noreply@blogger.com (Century 21 Farm & Forest Realty) — Tue, 09 Dec 2008 21:25:00 +0000

View our newest Catalog ONLINE at the link below:

http://www.farmandforest.com/ezstatic/data/farmandforest/FarmAndForest_08.pdf

Order your personal issue at the link below:

http://www.farmandforest.com/order_catalog/

We would like to thank all of our Customer's and Clients for keeping us the top Agency in Northern Vermont!

Mortgage Rates see Biggest Drop in 7 Years!

noreply@blogger.com (Century 21 Farm & Forest Realty) — Wed, 26 Nov 2008 15:48:00 +0000

U.S. Mortgage Rates Drop Most in Seven Years on Fed Debt Plan; Bloomberg
U.S. mortgage rates dropped by the most in at least seven years as a Federal Reserve pledge to buy $600 billion of debt succeeded where seven cuts in the central bank’s benchmark rate had failed. The average rate for a 30-year fixed mortgage fell to about 5.5 percent after starting at 6.38 percent yesterday, according to Bankrate Inc. It was the biggest one-day drop in at least seven years, said Holden Lewis, of the North Palm Beach, Florida, publishing and research firm.

Now is the time to act! Extremely low interest rates, good inventory, and a buyers market all make this a great time to get off the fence and contact your Realtor and Lender!