If you are like most of today’s potential home-buyers, not only are you on the lookout for the perfect home, but also for the perfect rate. Surrounding you are advertisements for rates you wouldn’t have dreamed of a few years ago, but how long are these low rates here to stay? A little research will show you that forecasters are predicting that the trend will be an upward one. The following graph reflects the trends we saw in rate movement for 2009:

Click graph for larger image. Reproduced with the permission of Mortgage-X.com

As you can see, the end of 2009 has us in an up-swing. I had the opportunity to sit in on a lecture given earlier this month by Dr. Lawrence Yun, Chief Economist for the National Association of Realtors. His prediction was that interest rates could very well rise between 6 and 6.500% by the end of 2010.

Of course, this is just one prediction amongst many, but also a prediction heavily weighed on the facts we do see before us at present time. The Fed is gearing up to gear down their assistance with keeping rates low but ending their purchase of mortgage-backed securities. The hope is that the market is strong enough to sustain itself without this specific assistance.

The bright side is that that even if we hit 6.500%, this is still lower than the rates we had available to us just a few short years ago. Low rates now coupled with great home prices and tax incentives make this a true buyer’s market and a great time to consider your own home purchase!

Heather D. Myott,
Mortgage Advisor
Tel (802) 238-1704
Fax (856) 917-2188
Heather.Myott@mortgagefamily.com
Licensed in Vermont #6038

Specializing in FHA, VA, Conventional and Jumbo Mortgage Financing

Neal Charnoff of Vermont Public Radio interviews Leslee MacKenzie, President of the Vermont Association of Realtors and President/Owner of Coldwell Banker Hickok & Boardman Realty about the Vermont housing market. A reflection of 2009 and what’s in store for 2010.

The National Association of Realtors released figures this week that indicate a slowing pace of home sales.

The report shows that the number of houses under contract fell sharply in November and market analysts say this could foreshadow another downturn in real estate.

Listen to the interview here

As a real estate agent in Burlington Vermont, much of my carbon footprint comes from my car. I drive thousands of miles each year showing properties in and around the Champlain Valley. Those miles started to wear on my conscience, so I recently traded in my gas-guzzling SUV for a used 2007 Lexus Hybrid SUV and haven’t looked back.

I launched the “Realtors Driving Hybrids” Initiative as a challenge to my fellow real estate agents to consider a more environmentally friendly alternative to their traditional vehicles. Initially this initiative was for Coldwell Banker agents, but this year, we’re opening it up to real estate agents across the country.

If you’re a real estate agent and you drive a hybrid, please send me an email, or register on site and I will be sure to add you to the growing list of agents on this site.

If you have not heard, the government announced that it extended and expanded the tax credit for home purchases.  This means that First-time home buyers in Burlington and all across the country may yet be eligible to receive a credit of up to $8,000 and those moving who have owned for at least five out of the last eight years may qualify for up to $6,500.

What’s the catch?

• You must be under contract to purchase no later than April 30, 2010.
• You must close on that purchase no later than June 30, 2010.
• There are some income restrictions
• Purchase price on a home is capped at $800,000

Visit the national federal tax credit web site for more information. Or call me for the local response to the Federal Tax Credit at (802) 238-1704 for more info. I have yet to meet a person who didn’t like free money – take advantage and claim yours now!

Heather D. Myott
Mortgage Advisor
Coldwell Banker

Burlington Church Street Marketplace

Travel & Leisure Magazine votes Burlington Vermont as one of the coolest college towns in America. It’s just another reason Burlington Vermont real estate is so hot right now.

What makes Burlington the coolest college town? Maybe it’s the array of performers in the Church St Marketplace, the fact it’s a bike friendly city, or perhaps the various restaurants Burlington VT has in it’s roster. The surrounding Lake Champlain real estate can’t hurt too much either; a beautiful environment for students to study for their upcoming exams!

There are plenty of schools to chose from. Burlington VT colleges include:

• University of Vermont – Vermont state college with engaging faculty and over 90 majors to choose from

• Champlain College – One of America’s “Top Up-and-Coming Schools”

• Burlington College – Independent liberal arts college with a variety of unique programs

• Community College of Vermont – Open admissions college with affordable programs

• Saint Michael’s College – A catholic, residential, liberal arts college located right next to Burlington VT

Explore this hip college hub today. I’d love to show you what a cool place Burlington VT is, so get in contact today and schedule a tour!

This historical Burlington home has 7 bedrooms, hardwood floors, elegant architecture, and is full of history. It also is located within walking or biking distance of all local Burlington colleges.

83 Willard Street, Burlington VT - MLS #2908468

This 2-level Burlington VT condo has a gorgeous lakeview, 3-4 bedrooms, off street parking, and the convenience of being located directly in downtown Burlington.

40 College St, Burlington VT - MLS #2901442

Come experience Burlington and find out why it’s America’s coolest college town. Check out the available Brian Boardman real estate while you’re here too!

This image from Sports Illustrated captures a terrific Burlington event

We all know that Burlington Vermont is famous for exquisite lakefront real estate with Adirondack views and incredible sunsets. But this fall, Sports Illustrated has given Burlington a new claim to fame: the site of the most ridiculous competition, the Burlington Vermont Giant Pumpkin Regatta.

Yes, it is a boat race, but each boat is a carved and decorated giant pumpkin, raced like a kayak. The Giant Pumpkin Regatta & Festival is a benefit for a youth leadership program for area high school students run by Linking Learning to Life and the Lake Champlain Regional Chamber of Commerce

Burlington VT Real Estate - Dramatic Apartment near Lake Champlain

This Burlington apartment might get a great view of this terrific spectacle in Burlington Harbor on Lake Champlain (it’s walking distance to the Harbor, anyway).

The interest rates are back into the 4’s again and Burlington Vermont buyers are taking full advantage. The current 30 year fixed mortgage is at 4.875%. (4.912% APR) While the 15 Year fixed rate is currently at 4.375% (4.414% APR).

The main reason behind the rate reduction: Consumer Confidence was reporting quite a bit lower than expected for September. On this news, stocks have reversed a bit lower, helping Mortgage Bonds improve. Keep in mind that markets continue to be very volatile. Friday’s unemployment numbers could send rates down even lower. However, an improved figure could put rates back into the 5’s again.

While Vermont real estate prices do reflect the national trend of slow, steady improvement, the present low rate should inspire even more Burlington buyers.

These two Burlington listings under $500,000 certainly inspire:

Burlington Vermont home under $500 K - Classic Victorian MLS# 2910193

Burlington Vermont home under $500 K - 4 bedroom Cape MLS 297080

If the beauty of autumn on Lake Champlain is not enough to convince you to move to Vermont, Children’s Heath Magazine has just published another great reason to buy Burlington real estate. Burlington was just voted the best place in the United States to raise a family.

The magazine conducted a statistical analysis of cities around the country researching the factors that are most important to parents: safety, education, economics, housing, and health. Burlington is number one for many reasons; among them are graduation rates, per-pupil spending, and percentage of population with advanced degrees.

From the Children’s Health article: “Its population is also exceptionally healthy,” says Stephen Perrine, Men`s Health Editor at Large and Children’s Health Editor. “Burlington has the fewest fast-food restaurants per capita so it’s no surprise that the city has less obesity than anywhere else in the country.”

These Burlington Victorians are both within walking distance to great schools:

58 Bayview Street, Burlington, VT

57 North Winooski Avenue, Burlington.

It depends on whom you ask. Of course Burlington is beautiful, some consider it the most beautiful city on Lake Champlain. But if you ask the United States Centers for Disease Control and Prevention (CDC), Burlington is the nation’s healthiest city.

The Burlington City Marathon is huge, of course. And if you walk down any street in downtown Burlington, you’ll pass a yoga studio or a health club. Take a look:

Imagine that each studio employs 30 fitness professionals. That’s 510 people. Add in the colleges, sports clubs, personal trainers, and ski instructors and this number ski rockets to more than two thousand people. That’s nearly ½ % of the city’s population! 

This list doesn’t even take the marital arts, Pilates, or physical therapy into consideration. Whatever your body needs, you’ll find it here in Burlington. And you’ll find any type of class that suits your needs. Take yoga for example: there’s prenatal yoga, post-natal yoga, yoga for toddlers, yoga on the lake, yoga for kayakers, yoga for seniors, skiers, bikers, golfers, runners…You get the picture.

These Burlington homes are all within walking distance of a yoga studio or health club:
MLS # 2811788 – 673 Prospect Street
MLS #2903426 – 94 Church Street
MLS #2901442 – 40 College Street
MLS #2902570 – 161 St. Paul Street

Here are many more Burlington homes fit for the fit…

Can you imagine a better venue for Mozart than Shelburne Farms on the shores of Lake Champlain?

While the Vermont Mozart Festival does travel throughout the Lake Champlain Region and northern Vermont, Shelburne is its principal home. And from Grand Opening to Finale, the most extraordinary Mozart Festival concerts take place at Shelburne Farms. 

This year, the Grand Opening on the lawn at the Inn at Shelburne Farms featured Mozart’s Overture from Don Giovanni, the Prague Symphony, and a Haydn trumpet concerto (E-Flat Major).

The Finale will be held August 8 in the courtyard at the Farm Barn at Shelburne Farms and feature the Overture to The Magic Flute and Haydn Cello Concerto No. 2. Tickets are still available.

Listen closely from either of these Shelburne homes; you might hear music in the air:

MLS # 2904823, Forty Road, Shelburne VT
MLS# 2904469, Ordway Shore Road, Shelburne VT