Addison County house values holding their own

Seen in the Addison County Independent:

Despite nationwide gloom and doom in the real estate sector and a drop in home sales in Vermont and Addison County, there is evidence that the values of the homes that most state and local residents own have held their own.

According to information on the Vermont Department of Taxes Web site, the median value of homes on 6 acres or fewer (described as R-I homes on property transfer returns) sold in Addison County through the first nine months of 2008 is $213,500. That represents an increase of about $6,000, or 2.9 percent, from the median value over the entire 12 months of 2007.

Read the full article.

New home construction down 66 percent in Vermont

From the Rutland Herald, October 12:

MONTPELIER — The number of new homes under construction in Vermont fell sharply in the last year as credit markets constricted and a national economic downturn hit the Green Mountains.

Construction statistics reveal a sector-wide slowdown that, according to one expert, threatens the jobs of nearly 8,500 Vermont wage earners. And while Vermont has by all accounts remained comparatively insulated from the subprime lending and speculative over-building that depressed housing markets elsewhere in the country, activity here has, by some measures, fallen to levels unseen in nearly three decades.

Read the full article.

Hardwick challenges tough times with innovative enterprise

In The New York Times today:

Uniting Around Food to Save an Ailing Town
Published: October 8, 2008
Facing a Main Street dotted with vacant stores, residents of Hardwick, Vt., are betting on farming to make it the town that was saved by food.

Read the full story in the New York Times, or visit the Hardwick Chamber of Commerce site.

Vermont on the “best” lists

A few Vermont towns have made some of the top “best” lists in 2007-2008. Here are just a few examples:

Vermont as a whole was ranked 4th in the nation for energy efficiency by the American Council for an Energy-Efficient Economy (ACEEE) in 2008.

tankless water heaters: can they take the heat?

The Nelson Project, a real estate blog based out of Austin Texas, recently published an informative article about the pros and cons of tankless water heaters.

“Tankless heaters run by cleaner renewable gas (with electronic ignitions) use about 20% less energy than traditional gas run storage water heaters based on an average usage of 78 gallons of hot water a day (which is about 3 showers, 1 laundry load, running dishwasher once and the faucet 9 times). Does this reflect your typical household usage? This percentage of savings is according to the October 2008 issue of consumer reports. Manufacturers tend to claim 30%-50% energy savings, and the green guide comes in at 34% (which is the average of all claims above).”

Read the full article here.

Tankless Water Heaters by Low Energy Systems

Vermont still holding steady with foreclosure numbers

According to , Vermont’s foreclosures more than tripled in August 2008 over its July 2008 numbers. But that total of 18 foreclosures in August still keeps Vermont ranked low in the foreclosure totals nationwide. Last month, Vermont had the fewest in the nation; this month it ranks 49th out of 50.

Appraisals in Brandon, Vermont up 16.3 to 120.2 percent

According to a recent article in the Rutland Herald, a Brandon, Vermont agent states that “…statistics compiled by the National Association of Realtors indicate Vermont has been one of the quickest-recovering states from the slowdown in the real estate market.” A new appraisal in the town of Brandon has property values assessed at up to 80.1 percent over its last assessment in 2001.

Read the complete story here.

“new urbanism” a Vermont building trend

According to a recent story on WCAX, South Village in South Burlington is using Vermont villages as a building model, being designed with “narrower streets [and] buildings on smaller lots” to help create a sense of community in the development. Upon completion, there will be a total of 335 units in the development, including condos, townhouses, and single family houses. The site will also include “an organic farm and a program to eradicate invasive plant species.”

Read the full story here.

Vermont has fewest foreclosures nationwide in July

According to the lastest statistics published by RealtyTrac, Vermont led the nation in the least number of foreclosures in July 2008, an impressive accomplishment considering that foreclosure activity is up 55 percent from July 2007 across the United States. There were a total of 272,171 foreclosures in July 2008.

Rank    State           Total           1 every 1000

1       Vermont           5               61,911
2       West Virginia    38               23,100
3       South Dakota     30               11,760
4       Mississippi     190                6,534
5       North Dakota     65                4,735
6       Montana         142                3,042
7       Delaware        132                2,900
8       Maine           255                2,710
9       Iowa            498                2,651
10      Alabama         863                2,445

Statistics from RealtyTrac.

Vermont comes home to

According to a store on Business Wire,  Roost, Inc. announced the launch of its search-engine service in the New England area, extending its coverage to New Hampshire, Vermont, Western Maine and Northern Massachusetts. Roost’s database is tied directly to the MLS, and searches can be customized to sort by price range, square footage, number of bedrooms and bathrooms, neighborhood and school district features, “even which homes have granite countertops or pools.”

Read the full Business Wire release.

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