Outside the Village of Northfield, Vermont John Biondolillo, BCK Real Estate Company Vermont

BCK Real Estate Vermont John Biondolillo

By John Biondolillo, BCK Real Estate Vermont

Located outside of the Village are the more rustic sections of Northfield, as well as Norwich University and Northfield Falls. The Town of Northfield has six covered bridges, four of them located in “the Falls” on the northern edge of town.  These include the Slaughterhouse Bridge, which is located off of Vermont Route 12.  Nearby on Cox Brook Road are three covered bridges in close proximity .  At left is the Stony Brook Covered Bridge, also known as the Moseley Covered Bridge, which is located in the southwestern section of Northfield off Vermont Route 12A.  Also registered nationally is the privately-owned Chamberlin Bridge, which is off Stony Brook Road on Chamberlin Road .

The municipal government of Northfield consists of two elected boards.  The Board of Town Selectmen is elected by all eligible Town voters while the Board of Village Trustees is elected only by voters residing in the Village.  The Boards jointly appoint a Municipal Manager to run the day-to-day operations of the Northfield community.  The current Municipal Manager is Nanci Allard (seen at right) and she may be found at the Northfield Municipal Building, located just off the Village Common.  The mailing address is 51 South Main Street, Northfield, VT 05663.  Her phone number is 802-485-6121 and the fax number is 802-485-8426.   

The Town Clerk is elected by Town voters and is responsible for maintaining all official town records; sending out property tax bills and recording payments; supervising elections in Northfield; providing various licenses to the public; and many other duties.  The Town Clerk’s Office is in the Northfield Municipal Building (seen at left), which is located at 51 South Main Street and is open weekdays from 8:00 a.m. to 4:30 p.m.  The current Town Clerk is Kim Pombar and her phone number is 802-485-5421.   

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

Selecting the Right Real Estate Agent by John Biondolillo, BCK Real Estate Company Vermont

BCK Real Estate Vermont John Biondolillo

By John Biondolillo, BCK Real Estate Vermont

There are several ways to select a great agent that you feel confident about. Referrals from friends, colleagues and relatives who have recently bought or sold a home is one way. If you are new to the area and don’t have someone to ask, drive around the neighborhoods to are interested in and make a not of the agents who list the most property there. Another way is to visit open houses on Sundays and meet some of the agents in person. Sellers usually interview more than one agent when listing a home. Buyers are advised to do the same. However, don’t feel like you must interview several agents. Rapport between you and your agent is vitally important to a satisfactory home purchase transaction. So, when you find an agent who is knowledgeable about the area where you want to live, whom you trust implicitly and with whom you are compatible, search no more.

            While there are many emotions attached to buying a home, conduct you agent interviews in a business type fashion. Make appointments to meet with agents in their office. If you are unable to decide on an agent after one meeting, have him or her show you several homes that might suit you. This will give you a chance to assess the agent’s style and to see if it meshes well with yours. Also, the agent’s selection of homes will ell you how well he or she listened when you described your housing needs and desires.

            Finding an agent who has time for you and who is also hard working are important to you finding your dream home. Approximately 20% of all agents sell 80% of all property. The agents who sell the most property have the most experience. A well-organized agent who sells a lot of property is probably your best bet, as long as that agent takes a hands-on approach and values customer satisfaction. Once you have selected an agent don’t be shy about letting the agent know that your expectations are high.

            Once a working relationship has been established between you and your agent, you should commit to working with them exclusively. Buyers often wonder if they should work with more than one agent. Yes, if they are looking in more than one area. However, many experienced agents work multiple areas. A top agent will not try to sell you in an area he knows little about. Let your agent know that you are looking in multiple areas, they can easily refer you to someone who is experienced. Only a local specialist is going to be able to protect your interest. An out-of-area agent has no way of knowing the subtle nuances about a place that will enable you to decide which home is the best to buy

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

Real Estate Agent Interview Checklist by John Biondolillo, BCK Real Estate Company Vermont

BCK Real Estate Vermont John Biondolillo

By John Biondolillo, BCK Real Estate Vermont

At BCK Real Estate Vermont, we know how important it is to select the right Realtor to help you in your home purchase or sale.  We have put together this helpful Agent Interview Checklist to guide you in your decision making process.  Before you sign the listing paperwork or agree to work with a buyer’s broker – whether it’s with BCK Real Estate or not – we want you to ask the following questions to you prospective real estate agent.

 Does the agent:

___ Have an active real estate license in good standing? Check with the governing agency in your state if you’re not sure.

___ Have a reputation for trustworthiness?

___ Know the areas you’re interested in and regularly sell homes there?

___ Have the time to work with you?

___ Have years of experience in the business?

___ Have a professional demeanor?

___ Can the agent work with you in an agency relationship that you find acceptable?

___ Have a personality you can relate to?

___ Interview you regarding your housing needs, wants, and lifestyle?

___ Listen attentively?

___ Return phone calls promptly?

___ Answer real estate questions in a manner that you understand?

___ Provide you with a list of properties he or she is showing you?

___ Show you homes that suite your needs?

___ Have some knowledge of home construction?

___ Belong to a multiple-listing service (MLS) and/or shopping services for the area you want to look in?

___ Have the Ability to qualify you for a loan, or introduce you to someone who can?

___ Complete a closing cost estimate for you?

___ Provide you with recommendations of lenders, mortgage brokers, inspectors, insurance agents, title agents, real estate attorneys, movers etc.

___ Have any schedule conflicts that will interfere with your home hunt? If so, interview the agent that will fill in.

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

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

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

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

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

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

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

How much does is Cost to Own a Home By John Biondolillo, BCK Real Estate Company Vermont

BCK Real Estate John Biondolillo

By John Biondolillo, BCK Real Estate Vermont

Many home buyers are often mistaken in calculating the costs of their homeownership. They figure that affording the mortgage, insurance, and real estate taxes means affording a home. Unfortunately, there are still many costs to be thrown into the equation.

For instance, the expenses that a home owner will be responsible for usually consist of the mortgage payments, real estate taxes, homeowner’s insurance, homeowner’s assessments, utilities (electricity, gas, satellite, etc.), garbage collection, water and sewage, repairs and maintenance of both the interior and exterior, landscaping and grounds maintenance, and perhaps even snow removal (depending on the climate).

Some of these payments are fixed and can be predicted monthly (for example, the mortgage payment), yet some like utilities and water will vary from month to month or season to season, and can not so easily be predicted. Property taxes are another matter to be dealt with; and, although may vary from state to state, a homeowner can generally anticipate their taxes to be anywhere from one to three percent of the homes market value.

Therefore, when determining whether a home can be afforded or not, all of these expenses must be taken into account, and it is never a bad idea to put away a few thousand dollars just for those surprise repairs that could not have been anticipated.  

Your real estate agent at BCK Real Estate can help you estimate the costs of home ownership to ensure that you are placed in a home that you can afford and enjoy for many years to come.

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

5 Ways to make Home Buying Easier By John Biondolillo, BCK Real Estate Company Vermont

BCK Real Estate Vermont John Biondolillo

By John Biondolillo, BCK Real Estate Vermont

Buying a home can be difficult enough knowing everything there is to know about the process. However, there are some things that can help a home buying experience flow a little better.

First, getting pre-approved for a home loan is extremely helpful. It lets the buyer know exactly what price range they have to work with, and prevents them from wasting time looking at homes out of this range. Also, knowingly looking at a home out of a buyers price range, in hopes to talk down the cost to an affordable one is not the best of ideas, and often just creates false hope.

Second, always work with a buyer broker. A buyer often does not have to pay any money out of pocket to consult a broker, and there is really no reason to go about home buying on your own. A broker can inform a buyer about the home, the sales history of the surrounding neighborhood, the demographics, and may prevent a buyer from wasting money on the wrong home.

Third, when purchasing a home, you are also buying into the neighborhood surrounding it. It is important to get familiar with the neighborhood and town/city before making an offer on a house. What is the crime rate? How do the neighbors like living in the area?

Forth, buyers must make sure to protect themselves. Hire an attorney, make sure the contract carries the right contingencies, and buy enough homeowner’s insurance. As the value of a buyer’s home increases, so should the insurance on it.

Fifth, buyer’s expectations of a home should be kept reasonable. If investing in an older home, there are likely to be older problems, and more of them. Know going into the deal that all homes, even new, are at least on step away from perfection.     

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