Contingent Real Estate Sales by John Biondolillo, BCK Real Estate Company Vermont

BCK Real Estate Vermont John Biondolillo

BCK Real Estate Vermont John Biondolillo

By John Biondolillo, BCK Real Estate Vermont

BCK Real Estate Vermont has seen Sellers completely reject contingent sale offers. However, some Buyers find that a few Sellers are receptive to offers that are made contingent on the sale of another property. Sellers tend to reject contingent sale offers because they are often more risky then offers that aren’t dependent on another home selling. The worst scenario is that the Buyer will price their home too high and it will not sell at all. This would, in turn, have been a monumental waste of time for the Seller and leave them back at square one, trying to find a Buyer while there home has been off the market all the while.

            There is even less room for contingent sale offers in a Seller’s market, because while the demand for listings outstrips supply, Sellers have no trouble finding non-contingent Buyers to negotiate with. Of course if the market has slowed, Sellers have much less room to be so choosy, and are more likely to accept a contingent Buyer. Also, if the highest offer has come from a contingent Buyer, the Seller will often accept this higher risk for the higher price. With a contingent sale offer, if the Buyers’ home does not sell, they are not obliged to buy the other home. However, if the contract includes a release clause, the Buyer may risk loosing the home to another Buyer if their current home doesn’t sell in time. A release clause means that the Seller can continue to market their home until the Buyer removes their sale contingency from the contract.

            Suppose you are buying a home in Barre or Montpelier, Vermont, and the Seller decides to accept another offer; if there is a release clause, the Seller will notify you to remove your contingency within a certain amount of time (generally 72 hours), or you will have to withdraw, and the home will go to the other Buyers. This is one of the drawbacks of contingent sale buying, and often the Buyer will sell their home at a lower price then they might have gotten, in order to keep from loosing the other house.

BCK Real Estate now has Vermont Realtors in six real estate offices in Vermont and if you are looking to buy or sell a home in Barre, Montpelier, Northfield, Waterbury, Rochester and Stowe, Vermont. We are your source for Vermont Real Estate. Email us at info@BCKrealestate.com.  This blog is provided for informational purposes and not intended to take the place of a licensed real estate professional.

You can also contact our individual offices:

BCK Barre VT   86 North Main Street  Barre, VT 05641   (802)479-3366

BCK Montpelier  15 State Street     Montpelier, VT 05602   (802)229-4242

BCK Northfield    17 East Street  Northfield, VT 05663  (802)485-7400

BCK Waterbury    21 North Main Street  Waterbury, VT 05676  (802)241-2000

BCK Rochester      42 North Main Street  Rochester, VT 05767  (802)767-9900

Stowe Realty/ BCK Real Estate  - 254 Mountain Road, Stowe, VT 05672  (802) 253-8484

Rochester, Vermont The Heart of the Green Mountains By John Biondolillo, BCK Real Estate Company Vermont

BCK Real Estate Vermont John Biondolillo

BCBCK Real Estate Vermont John BiondolilloK Real Estate Vermont John Biondolillo

By John Biondolillo, BCK Real Estate Vermont

Did you know there are thirty-eight towns named “Rochester” scattered throughout the United States, almost one for every state!

Rochester, Vermont, became incorporated in 1781.

Nestled in a remote area of the Green Mountains, Rochester has the largest amount of land in Windsor County, with over 36,000 acres. Many of those acres consist of The Green Mountain National Forest and the Riley Bostwick Wildlife Management Area. The White River flows alongside the village, making its way to the Connecticut River. The surrounding mountains extend from the rocky ledges of Mt. Horrid (2,900 ft.) and the Long Trail in the west to Mt. Cushman (2,750 ft.) on its easterly border. Philadelphia Peak at 3,160 feet is the highest peak in the area. A plethora of hiking and biking trails, along with its proximity to several ski mountains, make this town a mecca for outdoor activities.

Despite a population of just 1,171, Rochester boasts a thriving business and cultural community. Once an old railroad, farming, and mining community, it has successfully converted to the digital age with several technological and publishing companies now making a home here. Arts and culture thrive in Rochester with galleries, festivals, theatre productions, concerts, and lectures. Many residents are artists, writers, and professors.

Rochester once had as many as fifteen one-room schoolhouses at one time, but now has a single Rochester School, grades K-12, that also serves the surrounding towns of Hancock, Granville, and Stockbridge. The Rochester Public Library, founded in 1801, has a wide selection of books, videos, and computers for public use.

BCK Real Estate now has Vermont Realtors in six real estate offices in Vermont and if you are looking to buy or sell a home in Barre, Montpelier, Northfield, Waterbury, Rochester and Stowe, Vermont. We are your source for Vermont Real Estate. Email us at info@BCKrealestate.com.  This blog is provided for informational purposes and not intended to take the place of a licensed real estate professional.

You can also contact our individual offices:

BCK Barre VT   86 North Main Street  Barre, VT 05641   (802)479-3366

BCK Montpelier  15 State Street     Montpelier, VT 05602   (802)229-4242

BCK Northfield    17 East Street  Northfield, VT 05663  (802)485-7400

BCK Waterbury    21 North Main Street  Waterbury, VT 05676  (802)241-2000

BCK Rochester      42 North Main Street  Rochester, VT 05767  (802)767-9900

Stowe Realty/ BCK Real Estate  - 254 Mountain Road, Stowe, VT 05672  (802) 253-8484

Central Vermont Real Estate, Spring Around Corner

Central Vermont real estateCentral Vermont real estate has home owners, home sellers, and home buyers anticipating Spring, which is right around the corner.  Although today is the first official day of Spring it is fair to say that Vermont’s Spring comes into bloom a bit later than that of the southern states.  For home owners the arrival of Spring brings the anticipation of preparing the garden and sprucing up the exterior of their homes, for home sellers there is the added stress of clearing away winter’s toll and making the outside of their homes appear fresh and inviting, for home buyers there is a feeling of a fresh start in the air.  It is a renewing time of year in Central Vermont.

Regardless of whether you are a home owner or a home seller you most likely have a desire to enhance your home’s curb appeal, which means an overall surveillance of your home’s exterior.  Typically pruning of plants, shrubs, and trees is best done in either the Spring or the Fall, so if you did not take care of your pruning needs this past Fall, now is a great time.  If you are unsure of how to accomplish pruning there are many fantastic landscapers in the Central Vermont area.  In addition the internet offers a wealth of knowledge on general gardening and landscape pointers as well as how to prune specific plants.

Spring is a fantastic time to look for a Central Vermont property.  With snow melted it is possible to see the bones of the landscaping that surrounds your potential new home.  The ability to examine what work needs to be completed to satisfy your needs can be valuable when negotiating a contract.

A Central Vermont REALTOR® can be a valuable sounding board when trying to decide what type of landscaping projects would add the most value to your home and its curb appeal.  Contact us today for all your buying and selling needs.

Click here for information on a Spring workshop series for Vermont gardeners, classes designed to enhance your knowledge and ability to make the most of your garden.

BCK Real Estate is the home of Vermont Real Estate. Click here for free access to the Vermont MLS. We represent buyers and sellers of Vermont Real Estate, specializing in Montpelier, Barre, Northfield, Rochester, Stowe and Waterbury. This blog is brought to you by Gregory Noyes, a BCK broker that can handle all of your buying and selling needs.

Gregory Noyes offers exceptional service to anyone searching for real estate in Central Vermont. Gregory Noyes is based out of BCK’s Rochester VT real estate office in but can help with all of your Central VT real estate needs.  Known for his commitment, professionalism and service, Gregory can help you with all of your Central Vermont real estate needs.

Equity Sharing/Buying a Home with Someone Else By John Biondolillo, BCK Real Estate Company Vermont

BCK Real Estate Vermont John Biondolillo

BCK Real Estate Vermont John Biondolillo

By John Biondolillo, BCK Real Estate Vermont

When the home of your dreams is out of your price range, why not buy it with someone else and share the equity. This may sound like college roommate fun, but there are many items to consider when entering into this type arrangement.

The term for co-ownership is called ‘Equity Sharing’. This is when two or more non-married people invest in a house. Sometimes one of the people does not live in the house and merely uses the property as an investment and/or to help out the other person. Sometimes both people are equally sharing the mortgage and up keep as well as living together. Regardless of the situation you will want an ‘Equity Sharing’ or ‘Partnership Agreement’. This will determine who will pay for each item from the down payment to on going repairs and upkeep the co-ownership. There are also tax benefits to coordinate. The IRS will frown on both of you writing off all the interest on your mortgage. You will need to decide how you want the title to be held, (see article called “How to Hold Title”) and what to do when one partner wants out of the property, or worse yet, dies. There are many rules already in place for spouses, but a partnership agreement is akin to a business contract and everything is negotiable.

One benefit to co-ownership is that both incomes and joint cash for a down payment can be considered in getting your loan. Make sure you have discussed at length the future possibility of one of you getting married and wanting to live in the house. Try to think of as many scenarios as possible and have as many clauses to you agreement as you need. A good real estate attorney can help you through this process.

Something else to consider is the style of home since it is being shared. There are many horror stories of good friends never speaking to each other again after they live together. Look for a home where the bedrooms are possibly in different parts of the house and that there are enough bathrooms to go around. A little privacy goes a long way.

With a little thoughtful planning shared equity could give you both more home than you could individually afford and be building equity for your futures.

BCK Real Estate now has Vermont Realtors in six real estate offices in Vermont and if you are looking to buy or sell a home in Barre, Montpelier, Northfield, Waterbury, Rochester and Stowe, Vermont. We are your source for Vermont Real Estate. Email us at info@BCKrealestate.com.  This blog is provided for informational purposes and not intended to take the place of a licensed real estate professional.

You can also contact our individual offices:

BCK Barre VT   86 North Main Street  Barre, VT 05641   (802)479-3366

BCK Montpelier  15 State Street     Montpelier, VT 05602   (802)229-4242

BCK Northfield    17 East Street  Northfield, VT 05663  (802)485-7400

BCK Waterbury    21 North Main Street  Waterbury, VT 05676  (802)241-2000

BCK Rochester      42 North Main Street  Rochester, VT 05767  (802)767-9900

Stowe Realty/ BCK Real Estate  - 254 Mountain Road, Stowe, VT 05672  (802) 253-8484

Montpelier Needs New Fire Chief by John Biondolillo, BCK Real Estate Company Vermont

BCK Real Estate Vermont John Biondolillo

BCK Real Estate Vermont John Biondolillo

By John Biondolillo, BCK Real Estate Vermont

Montpelier, the capital city of Vermont, is seeking a Fire Chief. Current Chief retiring 5/1/11 after 5 years as Chief, 10 years as Deputy Chief and 31 years with department. Department Head position which answers directly to the City Manager. Combination Fire/EMS department with 19 full time employees, 2 regular part time employees, up to 15 call force members and $1.93 million budget.

The Fire Chief is responsible for all fire suppression and prevention activities within the City and as part of regional mutual aid. Responsible for ambulance service in Montpelier and three neighboring towns (by contract). Responsible for administering local/state building/health codes including permit issuance, inspection, plans reading and enforcement. Facilities and equipment are in top condition and department has a record of excellent service and response to public. Emphasis is placed on fire prevention, education and training.

Candidate should have demonstrated experience with: all aspects of fire suppression including incident command, ambulance service delivery -including billing and collections, active fire prevention efforts, building codes and inspection systems, supervision in a unionized environment, recruitment and retention of a call force, and other aspects of departmental operation including public engagement, budgeting, purchasing, strategic planning and personnel management.

The successful candidate will have: good communication and public presentation skills, demonstrated ability to track multiple priorities and activities, ability work with tight budgets for the best public value and strong leadership skills. Applicant must have an Associates Degree, preferably in Fire Safety or Public Administration. Completion of Executive Fire Officer Program at the National Fire Academy is preferred but not required. Experience as Chief Officer or Deputy Chief Officer for a comparable department, or supervisory position in a larger department is required. Formal education requirement may be waived based on sufficient work experience. Must have, or once had, valid certifications in firefighting and EMS. Building code certifications a plus. Must have, or be able to obtain, a valid State of Vermont Driver’s License.

The City of Montpelier offers a comprehensive benefit package. Compensation based on qualifications and experience, current budgeted annual salary is $73,000. Letters of interest, resume and list of references should be received at the City Manager’s Office, 39 Main Street, Montpelier, Vermont 05602 on or before 4:30 PM on Friday, March 18, 2011. www.montpelier-vt.org

BCK Real Estate now has Vermont Realtors in six real estate offices in Vermont and if you are looking to buy or sell a home in Barre, Montpelier, Northfield, Waterbury, Rochester and Stowe, Vermont. We are your source for Vermont Real Estate. Email us at info@BCKrealestate.com.  This blog is provided for informational purposes and not intended to take the place of a licensed real estate professional.

You can also contact our individual offices:

BCK Barre VT   86 North Main Street  Barre, VT 05641   (802)479-3366

BCK Montpelier  15 State Street     Montpelier, VT 05602   (802)229-4242

BCK Northfield    17 East Street  Northfield, VT 05663  (802)485-7400

BCK Waterbury    21 North Main Street  Waterbury, VT 05676  (802)241-2000

BCK Rochester      42 North Main Street  Rochester, VT 05767  (802)767-9900

Stowe Realty/ BCK Real Estate  - 254 Mountain Road, Stowe, VT 05672  (802) 253-8484

Buying Central Vermont Real Estate, Clean Credit A must

Barre real estateWhen buying Central Vermont real estate clean credit is a must.  Anyone who has read about real estate over the past couple of years has noticed that the lending market has tightened and loans are much harder to come by.  A home buyer with steady employment and income, as well as clean credit has more opportunity to acquire a loan to buy a Central Vermont property.

How can you clean your credit?  The first step would be to obtain  copy of your credit report and clear up any discrepancies.  Don’t be intimidated by a bad score, if there are items on the report that you believe are unfair or misreported then call the individual companies and see how you can clear your report.  A past due bill could have been mailed to a wrong address, perhaps you moved, or maybe it wasn’t even your bills to begin with.

Clean credit is an important first step to buying Central Vermont real estate, be your own best advocate and clear up any mistakes and improve where you can.  Contact us today for recommendations of reputable lenders.  An experienced Central Vermont REALTOR® has a web of connections to make the entire real estate process an easier and more educated process.

Click here to read an article from House Logic titled “7 Tips For Improving Your Credit”.

BCK Real Estate is the home of Vermont Real Estate. Click here for free access to the Vermont MLS. We represent buyers and sellers of Vermont Real Estate, specializing in Montpelier, Barre, Northfield, Rochester, Stowe and Waterbury. This blog is brought to you by David Jamieson, a BCK broker that can handle all of your buying and selling needs.

David Jamieson offers exceptional service to anyone searching for real estate in Central Vermont.  David Jamieson specializes in Barre real estate.  Known for his commitment, professionalism and service, David can help you with all of your Central Vermont real estate needs.

Buying a Home with Rent Producing Abilities by John Biondolillo, BCK Real Estate Company Vermont

BCK Real Estate Vermont John Biondolillo

BCK Real Estate Vermont John Biondolillo

By John Biondolillo, BCK Real Estate Vermont

You are renting an apartment and really want a home, but you know you can’t afford what you want. You also know that every month you pay your rent is money down the drain. The only way to build equity is to buy something. One solution is to purchase a lesser home in your price range and rent it with the idea of holding the property for a few years until it you build up equity through the payments you make and appreciation. If you find the right property, the rental money you receive should cover the payments and other expenses.

Be sure and consider the maintenance on the property. Just like you call the manager for that leaking toilet, your renters will be calling you and expect the repairs. Often these lower priced rental properties are older and require more up keep and repairs. Make sure you find a happy medium between a cheap property and repair nightmare.

There are tax ramifications to consider as well. As a homeowner that occupies the house you are allowed certain capital gains tax exclusions when you sell your property. With the sale of a rental property there are no exclusions. Any profit you see will be taxed at the capital gains rate unless you put the money back into another rental property. Rental property is considered a business and the IRS does not allow the exclusion if you sell the rental property (business) and put it all into a home for yourself (personal).

Another strategy is to buy a duplex or triplex and live in one of the units. Many lenders will consider the potential rental income in qualifying you for a loan. This may allow you to speed up your plan and move in to a nicer place right away.

There are many homes with a guest suite or mother-in-law suite. Buying a home with this feature could allow you to qualify for a little higher mortgage payment if you prove to the lender the suite will be rented. These suites are often in a separate part of the house, have their own bathroom, small living area and sometime their own entrance. Always check with zoning laws pertaining to single family versus multi family when considering this strategy.

BCK Real Estate now has Vermont Realtors in six real estate offices in Vermont and if you are looking to buy or sell a home in Barre, Montpelier, Northfield, Waterbury, Rochester and Stowe, Vermont. We are your source for Vermont Real Estate. Email us at info@BCKrealestate.com.  This blog is provided for informational purposes and not intended to take the place of a licensed real estate professional.

You can also contact our individual offices:

BCK Barre VT   86 North Main Street  Barre, VT 05641   (802)479-3366

BCK Montpelier  15 State Street     Montpelier, VT 05602   (802)229-4242

BCK Northfield    17 East Street  Northfield, VT 05663  (802)485-7400

BCK Waterbury    21 North Main Street  Waterbury, VT 05676  (802)241-2000

BCK Rochester      42 North Main Street  Rochester, VT 05767  (802)767-9900

Stowe Realty/ BCK Real Estate  - 254 Mountain Road, Stowe, VT 05672  (802) 253-8484

Flood Information for Montpelier, Vermont by John Biondolillo, BCK Real Estate Company Vermont

BCK Real Estate Vermont John Biondolillo

BCK Real Estate Vermont John Biondolillo

By John Biondolillo, BCK Real Estate Vermont

As a public service to the residents, the City of Montpelier will provide you with the following information upon request:

       Whether a property is in or out of the Special Flood Hazard Area (SFHA) as shown on the current Flood Insurance Rate Map (FIRM) of the City.

       Additional flood insurance data for a site, such as the FIRM zone and the base flood elevation or depth, if shown on the FIRM,

       They have a handout on the flood insurance purchase requirement that can help people who need a mortgage or loan for a property in the SFHA.

       They have copies of completed FEMA Elevation Certificates for buildings built in the floodplain since 1991.

If you would like to make an inquiry, please tell us the street address of your property. We are open 9:00 am to 4:30 pm, Monday – Friday. Call us at (802) 223-9506 or drop by the Department of Planning & Community Development in City Hall. Anyone in the office can provide the needed information. There is no charge for this service.

If you would like to see the Floodplain Bylaw update for 2010 you can view PDF’s of the appeal resolution for the City of Montpelier, the Zoning Regulations Changes, the Planning Commissions Reporting for Municipal Bylaw Amendments and the FEMA 100-year Flood Zone map at: http://www.montpelier-vt.org/community/344/Flood-Information.html

BCK Real Estate now has Vermont Realtors in six real estate offices in Vermont and if you are looking to buy or sell a home in Barre, Montpelier, Northfield, Waterbury, Rochester and Stowe, Vermont. We are your source for Vermont Real Estate. Email us at info@BCKrealestate.com.  This blog is provided for informational purposes and not intended to take the place of a licensed real estate professional.

You can also contact our individual offices:

BCK Barre VT   86 North Main Street  Barre, VT 05641   (802)479-3366

BCK Montpelier  15 State Street     Montpelier, VT 05602   (802)229-4242

BCK Northfield    17 East Street  Northfield, VT 05663  (802)485-7400

BCK Waterbury    21 North Main Street  Waterbury, VT 05676  (802)241-2000

BCK Rochester      42 North Main Street  Rochester, VT 05767  (802)767-9900

Stowe Realty/ BCK Real Estate  - 254 Mountain Road, Stowe, VT 05672  (802) 253-8484

Pricing Your Home Effectively By John Biondolillo, BCK Real Estate Company Vermont

BCK Real Estate Vermont John Biondolillo

BCK Real Estate Vermont John Biondolillo

By John Biondolillo, BCK Real Estate Vermont

Pricing your home can be tricky; here in Vermont, we see many Sellers price too high initially, and then the home sits on the market. However, it can be very difficult to know what price it too high, and what is too low. There are many misconceptions that affect why a Seller prices wrong. This is why pricing requires an expert like the seasoned professional Realtors at BCK Real Estate.

            Many people believe that because they put so much into there home, it is now worth more then others on the market. While this may be true, pricing too high initially will cost you in the long run. Your home is the most marketable when it is first put onto the market; however homes that are priced too high will be shunned by Buyers who do not want to deal with an unrealistic Buyer, and agents are unlikely to show an over priced home. Therefore, after your home has been on the market for some time, even after you lower the price, it will be hard to generate enthusiasm. Once there is finally a Buyer interested, the price is often discounted even further because of the time it sat on the market.

            It is very important to be as objective as possible when selling your home. Your aim is to price your home so it will sell for the most money in the least amount of time. Although selling quickly makes many people uncomfortable, it is usually the homes that sell quickly that sell for the most amount of money.

            Typically, a Seller should price within 2.5 to 5 percent of what the ultimate selling price would be. Within this guideline, a home should be priced in accordance with how much price discounting is currently occurring in the area. When there is little discounting, this means that homes are selling close to there listed prices. To determine the probable selling price, you can contact us here at BCK and we can complete a comparative market analysis (also known as a CMA). This will provide you with information on properties similar to your own that have sold recently. Often in higher price ranges, the deviation between the list price and the sale price is higher, say ten to fifteen percent.

            Although it is important to pay attention to the current market, always remember pricing strategies change with the market. People often make mistakes when the market is on the rise, and yesterday’s comparables are out of date. It can be risky to anticipate appreciation, and instead of under pricing, you are now over pricing. However, to protect yourself from this, find a realistic price and expose the listing to the market before you listen to any offers with the help of experts like BCK Real Estate. Usually if your price is too low, Buyer may compete in a multiple bit and push the price up.

            A Seller must have a different approach in a soft market where prices are on the fall. In this case, it is best to undercut your competition. Again, remember that yesterday’s comparables will be out of date, and often too high for the current market. You do not want to end up continually lowering your prices, trying to catch up with the declining market values. This is called chasing the market down.

BCK Real Estate now has Vermont Realtors in six real estate offices in Vermont and if you are looking to buy or sell a home in Barre, Montpelier, Northfield, Waterbury, Rochester and Stowe, Vermont. We are your source for Vermont Real Estate. Email us at info@BCKrealestate.com.  This blog is provided for informational purposes and not intended to take the place of a licensed real estate professional.

You can also contact our individual offices:

BCK Barre VT   86 North Main Street  Barre, VT 05641   (802)479-3366

BCK Montpelier  15 State Street     Montpelier, VT 05602   (802)229-4242

BCK Northfield    17 East Street  Northfield, VT 05663  (802)485-7400

BCK Waterbury    21 North Main Street  Waterbury, VT 05676  (802)241-2000

BCK Rochester      42 North Main Street  Rochester, VT 05767  (802)767-9900

Stowe Realty/ BCK Real Estate  - 254 Mountain Road, Stowe, VT 05672  (802) 253-8484

Selling Montpelier Real Estate, Realtor Helpful

Selling Central Vermont real estateA REALTOR® is extremely helpful when selling Montpelier real estate, in fact using a REALTOR®, according to some reports, is 50% more helpful than going it alone.  In today’s stressful economic times it is easy to see why a home owner may be tempted to try to sell a home on his own, after all that way he doesn’t have to pay a commission and is able to save more of his profit. The question is, how badly does that home owner want to sell his Montpelier home?

A Central Vermont REALTOR® can be invaluable in pricing, listing, and marketing a home to sell.  Not only does a Central Vermont REALTOR® have access to a client base of his own, but through marketing has access to every other real estate professional and, subsequently, their client lists.

Glancing at statistics on Realtor.Org, there are some interesting facts in the data. Nearly 25% of home owners who decided to sell on their own (FSBO) had the hardest time pricing their homes to sell.  A Central Vermont REALTOR® has access to all the data needed to conduct a CMA (comparative market analysis), which determines a fair market value for a piece of property.  When it comes to homes that were sold in the US in 2010, 9% were FSBO.

Contact us today to learn more about the value of a Central Vermont REALTOR®.  We can help direct you on how to prepare your Central Vermont real estate for sale, offer pricing advice, and market your home in order to sell it in the most timely and efficient manner possible.

BCK Real Estate is the home of Vermont Real Estate. Click here for free access to the Vermont MLS. We represent buyers and sellers of Vermont Real Estate, specializing in Montpelier, Barre, Northfield, Rochester, Stowe and Waterbury. This blog is brought to you by David Alexander, a BCK broker that can handle all of your buying and selling needs.

Renee Dezotelle offers exceptional service to anyone searching for real estate in Central Vermont.  Known for her commitment, professionalism and service, Renee can help you with all of your Central Vermont real estate needs.

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