Century 21 Farm and Forest Realty Blog

Nick Maclure named 2009 OCBR REALTOR OF THE YEAR

nick@farmandforest.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

nick@farmandforest.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

nick@farmandforest.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.

nick@farmandforest.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!!

nick@farmandforest.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

nick@farmandforest.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?

nick@farmandforest.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

nick@farmandforest.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

nick@farmandforest.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???

nick@farmandforest.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!

nick@farmandforest.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

nick@farmandforest.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

nick@farmandforest.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!

nick@farmandforest.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!

Benefit Auction for Injured Local Hunter

nick@farmandforest.com (Century 21 Farm & Forest Realty) — Mon, 24 Nov 2008 19:51:00 +0000

Benefit Auction for
Calvin Noble
Friday, December 5, 2008
at the VFW on Hill Street in Lyndonville
Doors Open at 6:00PM auction starts at 7:00PM

Calvin was seriously injured in a hunting accident near his home in Granby, while moose hunting in October. He is still in critical condition at Dartmouth Hitchcock Medical Center. Calvin and his wife Nellie live in Granby, where Nellie is the Town Clerk. He works at Fairbanks Scales in St. Johnsbury, and is an avid outdoorsman, as well as a devoted father and grandfather.

We are seeking items to be auctioned off to help him and his family with the mounting costs. We will be selling goods and services and homemade items donated by the community. If you have items to donate please call:

Matt Young 274-0043
Tim Gaskin 274-0074
Steve Young 274-1275

Please plan to attend and help spread the word about this event, so that we can help Calvin and his family during this very difficult time.

RENTERS - FREE HOME BUYING ADVICE

nick@farmandforest.com (Century 21 Farm & Forest Realty) — Thu, 16 Oct 2008 19:32:00 +0000

Are you currently renting a home? Do you have average to good credit? Have you considered purchasing a home? Did you know that you may be able to buy a home and have more money in your pocket at the end of the year?

If you answered Yes to the first two questions, do yourself a favor and talk to a loan officer and REALTOR about purchasing a home.

Why should you buy rather than rent?

1) When you consider the tax benefits of owning a home or multifamily building your actual take home income at the end of the year may be much more than you are realizing now while renting.

2) This year there is also up to a $7500 tax credit available for qualified home buyers.

3) All of your interest payment and taxes are tax deductible.

4) Interest rates are incredibly low (under 6% in many cases)!

5) On average, most of a home owners wealth comes from their homes equity which you will not get by renting.

6) Inventory of housing is high giving you lots of home choices.

7) It is a buyers market which grants you more opportunity.

8) Don't wait as interest rates are sure to go up, home values will increase, and the current tax credit will only last so long! Contact an agent and your lender today for free advice!

Call Century 21 Farm & Forest Realty - 802-334-1200

Call Century 21 Mortgage - 888-535-4137

Use the following Rent Vs. Buy Calculator to compare which is better for you: http://www.century21.com/calculators/rentvsbuy.jsp

Consult your accountant for specific tax implications and verification.

Protect our Youth -Free Lead Based Paint Education

nick@farmandforest.com (Century 21 Farm & Forest Realty) — Thu, 16 Oct 2008 19:18:00 +0000

On November 6th from 5-9PM at the Community National Bank in Derby, there will be a FREE training session on Lead Based Paint. This class will educate you on the Essential Maintenance Practices (EMP) for dealing with Pre-1978 Homes and Apartment buildings. If you are a Contractor, Land Lord, Child Care Center Owner, Home Owner, Renter, or Parent you should consider taking this free class. Visit www.leadsafevermont.org to learn more and call 800-290-0527 to reserve a seat!

WE NOW HANDLE RENTALS

nick@farmandforest.com (Century 21 Farm & Forest Realty) — Thu, 18 Sep 2008 17:50:00 +0000

WE NOW HANDLE RENTALS!!!!
To further meet the needs of our customers and clients, Century 21 Farm & Forest has expanded our vast business to include rentals! If you are an owner looking to rent your building or if you are looking for a rental, please give Barb Rowell a call! Browse our growing inventory online at http://www.farmandforest.com/rentals/

Barb Rowell:

Office: 802-334-1200 x114

Home: 802-754-2193

Email: Barb@FarmAndForest.com

If you are looking to buy or sell, come see what makes us the Highest Selling Firm in the Northeast Kingdom.

Great Mortgage News: Fannie Mae & Freddie Mac rescued by the US Gov.

nick@farmandforest.com (Century 21 Farm & Forest Realty) — Mon, 08 Sep 2008 13:19:00 +0000

The US Government has backed Fannie Mae and Freddie Mac. This should result in more available funding and lower interest rates which will put a big boost in the current Real Estate Market! Buyers should call their lenders for an update on their available funding and terms!

Read the full article from CNN Money @ http://money.cnn.com/2008/09/07/news/economy/fannie_homeowners/index.htm?postversion=2008090718

Buying or Selling - Please Read!

nick@farmandforest.com (Century 21 Farm & Forest Realty) — Fri, 08 Aug 2008 20:40:00 +0000

The new requirement that photoelectric only smoke detectors be placed in homes at the time of sale goes into effect January 1st 2009. In order to meet this statute a home must contain one or more photoelectric smoke detectors, with at least one on every floor and in the vicinity of any bedrooms.

Because this law takes effect in January many home goods/hardware stores are trying to push their inventories of ionization smoke detectors. This is causing many folks to buy the wrong type of detection unit. We would urge you and your clients to be mindful in the coming months about which type of smoke detectors you buy, and make sure its photoelectric not ionization.

If you are making a purchase of new smoke detectors please make sure they are photoelectric and not ionization. Combination photoelectric and ionization detection units will NOT meet this statute. However, combination photoelectric smoke detectors and carbon monoxide will meet this statute. Please read this carefully and please make your purchases wisely.

SEYMOUR / MORGAN OPEN HOUSES

nick@farmandforest.com (Century 21 Farm & Forest Realty) — Thu, 24 Jul 2008 12:48:00 +0000

http://www.nnerenmls.com/nne/maildoc/a0051w8612.html
This Saturday, July 26th, from 10:00am~2:00pm, Century 21 Farm & Forest Realty will host 2 OPEN HOUSES in MORGAN. Click on the link above to view these properties.
Ed Parenteau will be at the home on Toad Pond Road. Chris Binette will be at the other on Brook Road, which has frontage on ever-beautiful Seymour Lake.
Stop by to see these lovely homes. Both are ideal as vacation getaways being near lake activities, snowmobiling, 4-wheeling, hunting, fishing, or just plain ol' nature-loving! Or enjoy their comfort all year round!
For more info email Ed@FarmAndForest.com or Chris@FarmAndForseet.com.
On behalf of Ed & Chris, we look forward to seeing you!!! :)

Interest Rates

nick@farmandforest.com (Century 21 Farm & Forest Realty) — Mon, 23 Jun 2008 13:32:00 +0000

Interest rates have been slowly creeping up so talk to your lender about a rate lock and contact one of our Sales Associates while rates are low!

BLOOD DRIVE - July 15th

nick@farmandforest.com (Century 21 Farm & Forest Realty) — Mon, 23 Jun 2008 12:03:00 +0000

The Orleans County Board of REALTORS will be sponsoring a Blood Drive Tuesday July 15th from 11:30-5PM at the Gateway Center in Newport, VT. Come give the gift of life and receive a free T-shirt and lunch right on the shore of Lake Memphremagog. Walk-ins welcome and appointments are available. Call the American Red Cross at 800-843-3500 ext 3265.

Catalog Online!

nick@farmandforest.com (Century 21 Farm & Forest Realty) — Tue, 27 May 2008 14:44:00 +0000

You can now view our full color catalog online. You will find the link on the left side of our home page or you may click on the following:

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

If you prefer a printed copy be mailed to you, please call or email our office with your name and address!

Buyers and Investors are making their moves!

nick@farmandforest.com (Century 21 Farm & Forest Realty) — Fri, 11 Apr 2008 15:20:00 +0000

Whether you are looking for your first home, a second home, an investment property, or looking to make a move, now is the time to act! Interest rates are very low and there is ample inventory to choose from. Combining these aspects may allow you to buy more real estate for less money than you could have in the past.

Renters are now seeing that they can purchase a home for less than they are renting. Why not pay your own mortgage instead of your landlord's! Not only does this generate personal pride of ownership, but it also has great tax benefits. Finally, a recent study by the National Association of Realtors conveys that "The average home owners net worth is $171,000 - that's 46 times that of a renter's, who has an average net worth of $4,800." Furthermore it states "60 percent of the average home owner's wealth comes from their homes equity." Please visit www.housingmarketfacts.com to learn more about the benefits of home ownership.

Some investors are buying now and looking to the future. Investors can purchase now and rent the property to cover carrying costs and often generate some income. When the market gets to a high point, they will then sell for a nice profit! Investors are also looking for land tracts that they can hold for future development.

Home owners that are looking to purchase a more expensive home than they are currently in are saving money. Lets say the overall housing market has come down 5% in Vermont over the past 2 years. If you sell a $150K home and purchase a 250K home, you may get 5% less on the house you are in, but you will also buy the new home at 5% less. This equates to a $6500 savings!

Yet another great tactic is to buy now at the low of the market and wait to sell your existing home until the market improves. Again, carrying costs could be offset by renting if needed!

Today's market is a market of opportunities. Don't let them pass you buy! Contact a member of our professional sales team to further investigate your personal situation.