Vermont Country Properties Sotheby's International Realty's Weblog

Buyers Are Coming Back Into the Market— and Getting Great Deals

by Iyna Bort Caruso

Whether the real estate market is in turnaround is still a question, but what’s not up for debate is that some market insiders are detecting encouraging signs. One real estate agency in Savannah, GA, reports a healthier first quarter than a year ago. A suburban Detroit broker is seeing an uptick in sales volume. Even hard-hit areas of Florida, Nevada, Arizona and California are showing signs of life. In some cities, home inventory is less than half of what it was 15 months ago, and homeowners are entertaining multiple offers.

Low interest rates and attractive housing prices have lured some people back in the market. What’s holding other qualified buyers back? It isn’t financial instability or lack of liquidity. Call it market angst.

Fear of Commitment?

Celia Dunn of Celia Dunn Sotheby’s International Realty says, “fear of the unknown” is keeping some people from taking advantage of dramatic price reductions in her two markets of Savannah, GA, and Bluffton, SC. “They’re still hesitant to commit,” she laments. Yet, first quarter 2009 sales topped those of 2008, and her office is closing on multiple homes every week. Dunn represents a mix of primary and second-home properties in historic districts, waterfront areas and on islands. For those ready to dip their toes back in the water, it’s a rosy picture. A home in the Savannah Historic District that originally listed for $3.1 million just sold for $1 million. A private island off the South Carolina coast priced at $15 million is down to $10.5 million. “People can get so much more for so much less,” Dunn says.

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The Stratton Office of Vermont Country Properties Sotheby’s International Realty is pleased to announce that an extraordinary Guilford residence, represented by Kim Wohler and Sara Buckley, has been prominently featured in the most recent issue of Vermont Magazine.

At Home In Vermont
Global Mosaic
Story by Kaitlyn Pirie

The Guilford home of Paul and Vicky Simons is inspired by travels through Europe and Asia.

Nestled in the mountains of southern Vermont is a home that defies nearly every traditional style classification. Paul and Vicki Simons’ Guilford retreat was a 900-square-foot log cabin when Paul bought it in 1978. Today, a 3,900-square-foot masterpiece sits on the 20-acre piece of land.

“I chose the cabin for its potential for the view,” Paul says, “and also for the privacy.” The woods surrounding the home allow the Simons to step away from the hustle of everyday life, and careful design—both inside and outside—link the living space to the natural environment. “Most things, of course, were built to take advantage of the view,” says Paul.

The view isn’t the only attention grabber: A tour through the Simons’ three-story home is like a trip around the world. “I traveled for 20-odd years in Asia before I retired from the food business,” Paul says, “to places like Thailand, the Philippines and Indonesia. The house has many of those elements.”

As you pass through the entry and up a set of stairs, you can detour to a sunroom or continue to the living room, the heart of the original log cabin. Built in 1971, the original structure is evident in the exposed-timber walls. Small lamps attached to the beams provide warm lighting for the room, and a cream sofa and loveseat offer a place to relax. An Italian mosaic medallion above the fireplace and a large Turkish rug placed over cherry wood flooring bring the room together. Rugs from Nepal and Persia punctuate the décor in other areas of the home, all of which were purchased from A Candle in the Night, a Brattleboro store owned by Paul’s brother and sister-in-law, Larry and Donna Simons.

A stairway in the living room leads to two small second-floor bedrooms and a bathroom. A hexagonal cupola with windows on each side provides natural light for one of the bedrooms, while a unique feature of the second bedroom is a balcony that overlooks the dining room. The brick-like pattern of the balcony railing was modeled after The Jim Thompson House in Thailand. (The well-known Bangkok home, now a museum, was built in 1959 by an American silk entrepreneur.) At the other end of the house, a staircase in the sunroom leads to a second and third floor above the garage. This space contains the master bedroom suite, an office, an exercise room and another bathroom. The master bedroom suite has its own steam bath and Persian rug, plus exceptional views of the surrounding mountains.

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The Shelburne Office of Vermont Country Properties Sotheby’s International Realty is proud to announce that an in-house lakefront listing in beautiful Alburgh, Vermont, represented by Diane Felix, has been featured in the most recent issue of Money Magazine as an affordable and attractive lakefront property for sale.

Excerpt from Money.CNN.com:

Affordable oceanfront property can be hard to find. But you can buy a sweet lake house for under a million. Here are four of them on the market now.

Alburgh, Vt.
Price: $499,000

Rooms: 7 bed, 3 bath Square feet: 3,200 Taxes: $5,200 Lot size: 0.8 acre

Lake Champlain contemporary has Italian tile in the kitchen and dining room, a blue slate fireplace, two decks, and a 45-foot dock.

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INTRODUCING PHOENIX COMMERCIAL DIVISION

Manchester, Vermont —

With 5 offices throughout the State, Vermont Country Properties, an affiliate of Sotheby’s International Realty, recently acquired Phoenix Business Properties, the area’s largest commercial brokerage firm with offices in Manchester and Bennington. This acquisition represents the final link in the firm’s plan to provide complete real estate services in Vermont’s residential and commercial markets.

Phoenix Business Properties is the area’s oldest real estate brokerage firm solely dedicated to the representation of commercial real estate and businesses, including: motels, restaurants, inns and bed and breakfasts, while offering a full range of business and real estate broker services, including: guidance in buying and selling, leasing, business planning, business evaluation, tax deferred exchanges, buyer representation and refinancing consulting. The firm will be incorporated into Vermont Country Properties as the Phoenix Commercial Division, with agents Bill Colvin, Commercial Division Manager, Bob Stannard, Jerry Hart, Paul P. Hardy, and Carmen DeNatale, Managing Broker of the Bennington Office.

“Not only will our listings enjoy the enhanced exposure of Vermont Country Properties and their state-of-the-art website, we will now be part of the Multiple Listing Service with exposure on internet portals such as loopnet.com, isbysell.com and commercialsource.com,” states Bill Colvin. “This is an outstanding opportunity to launch our business to the next level with management that understands and utilizes technology and media to communicate and reach buyers beyond our borders.”

“With outstanding agents, the best marketing platform in the State and offices and marketing groups that service the majority of the Vermont real estate market, including: Manchester, Dorset, Bennington, Stowe, Stratton Mountain, Mad River Valley, Okemo Mountain, the Greater Burlington Area and the Lake Champaign Islands region, the synergies created with Phoenix Business Properties will dynamically increase the power of our brand,” states Dick Montague, founder and owner of Vermont Country Properties. “A bona fide commercial division, with real experience and expertise is the final part of our business plan. We were not comfortable with simply opening a commercial division without the necessary expertise and agents. Our firm has been a leader in our markets for one reason and one reason only; we are the best at what we do. We expect no less of our commercial division.”

Vermont Country Properties Sotheby’s International Realty is one of Vermont’s largest real estate brokerage firms, representing distinctive properties throughout the State.  Vermont Country Properties / Phoenix Commercial Division is located at 4903 Main Street in Manchester, Vermont and can be contacted by phone at (802) 362-7107 or online at phoenixbusinessproperties.com.

In over 50 communities across the State, what began as a gathering of a few local growers has grown into a community event. From the first crop of tender asparagus in the spring to September’s pumpkin harvest, you can buy it fresh from the grower. As farmers’ markets have grown, so has the selection of goods for sale. Markets typically feature fresh baked goods, specialty foods, arts and crafts, and of course a wide variety of fresh fruits, vegetables, cheese, eggs, meat and maple syrup. Many markets feature live music and activities such as sheep shearing, weaving and spinning.

Check one out this weekend!

Click to view the Harvest Availability Calendar.

View original article online at: VermontAgriculture.com.

Thursday, June 18, 2009

The Summit on the Future of Vermont Final Report is now available. The 2009 Vermont Council on Rural Development (VCRD) Summit on the Future of Vermont marked a watershed point. It turned the findings from the two-year Council on the Future of Vermont project into a challenge to Vermonters, and especially the leaders who gathered together for the day, to consider specific ways to work together to advance a positive vision for the future of the state. Over 500 Vermonters participated in the Summit process on May 11, 2009, coming from all parts of the state, from all sectors of government, business, non-profits and communities. It is exciting just to read the names (in Section VIII at the back of this report) of the diverse and dedicated team of Vermonters who devoted their energy and thinking to make the Summit a success.

Two suggestions of note from the summary below include reducing carbon emissions by 75 percent, and having 75 percent of the food bought in Vermont be grown or raised in Vermont. The full report is attached.

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Stratton Office
Juniper Lane - Stratton, Vermont
Listed By: Tim Apps and Kevin Moran
Sold By: Kim Wohler
Sold Date: June 16, 2009

MLS#: 2813184 Type: Condo Square Feet: 1903 Acres: 12 common Bedrooms: 3 Baths: 3 Full Listed Price: $620,000

Listed & sold by Vermont Country Properties Sotheby’s International Realty.  Adirondack style 3 bedroom 3 bath unit is tastefully furnished and ready for your family to move in. Stratton Sports Center Bond is included for a transfer fee.

Manchester Office
Winter Street - Manchester, Vermont
Listed By: Sue Speath
Sold Date: June 12, 2009

MLS#: 2708891 Type: Residential Square Feet: 3000 Acres: 19.7 Bedrooms: 4 Baths: 2 Half Listed Price: $648,000

Wonderful open floor plan with privacy, fabulous mountain views and 1000 foot of Battenkill River frontage. Convenient and close to town.

Stratton Office
Cranberry Hill Road - Winhall, Vermont
Listed By: Diana Stugger
Sold Date: June 11, 2009

MLS#: 2806932 Type: Residential Square Feet: 2016 Acres: 5.2 Bedrooms: 4 Baths: 2 Full Listed Price: $395,000

Immaculate Strattonwald chalet, tastefully decorated, nestled on a landscaped rise with views of Stratton Mountain. Entry level with mudroom, family room with fireplace, 3 guest bedrooms & bath, utility/laundry room. Main level with spacious living room, dining area & renovated kitchen with breakfast bar, master bedroom en suite, wraparound multi-level deck. Fieldstone south facing patio, detached two-car garage. Shuttle bus service in winter, swimming pond with beach and tennis courts in summer. Furnished.

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