May 2017 Market Statistics

The Northwestern Vermont Board of Realtors (NVBR) has released its market statistics for May 2017. The information is collected directly from the New England Real Estate Network and covers Chittenden, Franklin and Grand Isle Counties.

What we’re seeing is inventory is still very tight and it hurt closings. Compared to last year, New Listings were up 24.9% for Single-Family homes, but decreased by 9.5% for Townhouse-Condo properties. The month’s supply of inventory decreased 18.3% for Single Family units and decreased 16.7% for Townhouse-Condo units. Closed Sales decreased by 4.4% for Single-Family properties and decreased by 9.8% for Townhouse-Condo units.

The good news is we’ll see more and more Pending Sales and Closed Sales. It may be that sellers have decided to finally put their homes on the market. Pending Sales are up 9.5% for Single-Family homes and 13.7 percent for Townhouse-Condos units, which bodes well for the summer months.

Read NVBR’s full monthly Market Statistics here.

Contact Mike Conroy with any questions about buying and selling real estate at 802-363-3356 or mike@conroyandcompany.com.

Conroy & Company is a Keller Williams Vermont team of Realtors located in South Burlington, Vermont. Our mission is to serve our clients with the highest level of personal commitment to helping them reach their goals. Our focus is to bring the latest technology and marketing skills to our clients, and do so in the most personal, hands on way possible. Our collaborative, strength in numbers approach to exceeding your expectations, has helped keep us in the top 2% of Vermont agents/teams ever since 2003.

COMING SOON! 3 Bedroom Essex Condo with Upgrades Galore

The owners of this Whitcomb Heights II townhouse were lucky enough to get the last unit built on the north side of Cushing Drive – and that means there is a fantastic, long and uninterrupted green space adjacent to it – making it one of the finest sites in the Association. These are well built 3 level, 3 Bedroom Bartlett-Weaver homes with features galore.

The owners have upgraded the chef’s kitchen, the master suite is to die for and there is a walk out basement, plus first floor deck.  The location is hard to beat in Essex, and only a few of these hit the market each year, so they typically go fast.  This is one to see and it will be showroom ready soon. Call us to get in early!

Contact Mike Conroy with questions or to schedule a showing: mike@conroyandcompany.com or 802-363-3356.

Conroy & Company is a Keller Williams Vermont team of Realtors located in South Burlington, Vermont. Our mission is to serve our clients with the highest level of personal commitment to helping them reach their goals. Our focus is to bring the latest technology and marketing skills to our clients, and do so in the most personal, hands on way possible. Our collaborative, strength in numbers approach to exceeding your expectations, has helped keep us in the top 2% of Vermont agents/teams ever since 2003.

COMING SOON! 3 Bedroom Colonial in Sought After So. Burlington Neighborhood

This 3 bedroom, 2 bath, 1,589 square foot Colonial is located in one of the area’s most sought-after neighborhoods, and is waiting for your TLC. New roof, windows and back deck, right-of-way access to beach. Turn this diamond-in-the-rough into your smart investment! Home will be going into MLS on Friday, June 30, 2017 offered at $399,000.

Contact Dave Kleh with questions or to schedule a showing: dave@conroyandcompany.com or 802-363-1820.

Conroy & Company is a Keller Williams Vermont team of Realtors located in South Burlington, Vermont. Our mission is to serve our clients with the highest level of personal commitment to helping them reach their goals. Our focus is to bring the latest technology and marketing skills to our clients, and do so in the most personal, hands on way possible. Our collaborative, strength in numbers approach to exceeding your expectations, has helped keep us in the top 2% of Vermont agents/teams ever since 2003.

 

COMING SOON! Cape Cod Style Home with Private Beach on Shelburne Bay

Located in one of the area’s most sought-after neighborhoods, imagine strolling down your private path next to a babbling brook to your own sandy beach on Shelburne Bay. Take your boat out for a cruise, or kayak around the bay, or just hang out on your dock. This home has been completely remodeled and expanded.

This 3-4 bedroom Cape Cod style home has a very open first floor with hickory hardwood throughout, remodeled kitchen and dining area, and a living room with a bar for entertaining. The first floor also has a bedroom and a full bathroom and laundry room. Upstairs is where you will find your master suite and additional bedrooms. This is truly a rare find. Book your eternal vacation today! Home will be going into MLS on Friday, June 30, 2017 offered at $899,000.

Contact Dave Kleh with questions or to schedule a showing: dave@conroyandcompany.com or 802-363-1820.

Conroy & Company is a Keller Williams Vermont team of Realtors located in South Burlington, Vermont. Our mission is to serve our clients with the highest level of personal commitment to helping them reach their goals. Our focus is to bring the latest technology and marketing skills to our clients, and do so in the most personal, hands on way possible. Our collaborative, strength in numbers approach to exceeding your expectations, has helped keep us in the top 2% of Vermont agents/teams ever since 2003.

2017 Vermont Summer Bucket List

Now that school is officially over and summer is upon us, we’ve compiled this “Vermont Summer Bucket List”. It’s sure to have something for everyone to keep you (and the kids) entertained for the next 8 weeks of summer vacation.

1. Watch a Sunset from the Burlington Waterfront

2. Visit the Ben & Jerry’s Waterbury Factory and Try a New Flavor
Take the tour and try a flavor of ice cream you’ve never tried before. It will be difficult to not go for their top 3 flavors: (1) Half Baked, (2) Cherry Garcia, (3) Chocolate Chip Cookie Dough – but you need to try something different!

3. Visit 5 Vermont Covered Bridges
There are over 100, so this should be fairly easy. In for a little bit of a spook? Visit Emily’s Bridge in Stowe at night… it’s haunted. Click here for a complete list of bridges.

4. Visit Dog Mountain and the Dog Chapel in St. Johnsbury
Dog Mountain and the Dog Chapel was created by renowned artist Stephen Huneck in St. Johnsbury, Vermont. “Dog Mountain is set on 150 acres on a private mountaintop spot in St. Johnsbury, Vermont. The grounds are always open to people and their dogs. Stephen Huneck and his wife, Gwen, bought the property in 1995. They turned the barn into studio space. After Stephen’s unique visionary experience, the Dog Chapel soon followed. The Dog Chapel opened its doors Memorial Day weekend of 2000. The unspoiled haven is covered with hiking trails and dog ponds. Wildflowers abound in the summer and snow-shoeing is a favorite activity in the winter. Year after year, the Dog Chapeland the Stephen Huneck Gallery get more and more visitors from all over the world. There is no leash law on Dog Mountain. Dogs are not just welcome here, they are cherished! Dogs are free to run, play, swim and best of all meet other dogs! It’s great to hear from tourists and local residents alike how much Dog Mountain means to them and their dogs.”

5. Go to the Sunset Drive-in
The Sunset Drive-in on Porters Point Road in Colchester has been a local landmark for nearly 70 years. There’s no better way to watch a movie than being as comfortable as possible; Sunset Drive-In allows you to enjoy the latest movies in the comfort of your own vehicle. They offer stadium style-seating, 4 colossal screens playing double features of the latest movies with all night entertainment, and snack bar. “Sunset Drive-In is perfect for date nights or family nights by offering entertainment under the stars from the comfort of your cars.”

6. Swim at the Alburgh Sand Dunes
The Alburgh Sand Dunes are a 625-acre state park and may be one of Vermont’s best kept secrets. “It is named for the sand dunes near the center and western end of the south-facing, natural sand beach. This beach is amongst the longest beaches on Lake Champlain. The beach and dunes together make up what is known as a barrier island, geologically similar to coastal formations more common along ocean shorelines. At Alburgh Dunes, the sand has come from a layer of glacial till- the soil that was left atop the low bluffs southeast of the beach when the last glacier melted. The bluffs have eroded over thousands of years, and the soil carried off by lake currents. Sand from that soil settles out in the pocket between the rocky “Point of Tongue” to the east and “Coon Point” to the west, forming the beach. ” Click to learn more

7. Visit ECHO Aquarium
Located on Burlington’s Waterfront, ECHO is a nationally acclaimed lake aquarium and science center. ECHO houses more than 70 species of live animal ambassadors in Vermont’s first LEED certified building. The innovative science center and aquarium displays life in the Champlain Basin and inspires visitors to positively impact the world around them. Check out the current exhibit on display

8. Visit Hildene
Hildene, the Lincoln Family Home is the former summer home of Robert Todd Lincoln and his wife Mary Harlan Lincoln, located at 820 Hildene Road in Manchester, Vermont. The estate, now a museum, and gardens are breathtaking. It is the quintessential Vermont destination. Click to learn more

9. Visit Jay Peak Resort
There’s a plethora of things to do at Jay Peak this summer! The Pump House Indoor Waterpark is a place where you can surf, climb, float, slide, or leisurely swim. Back for the 4th year, the Jeezum Crow Festival will be held at the Stateside Amphitheatre July 14th & 15th. They’ll have 9 bands across 2 days! Additional Jay Peak activities include the Championship Golf Course, Disc Golf Course, Raised Jay Summer Camps, Raised Jay Wilderness Camps. Click to learn more

10. Hike Mount Philo
Mount Philo State Park is a 237-acre park. Climb Mount Philo for amazing views of Lake Champlain and the Adirondack Mountains to the west.

11. Explore one of Vermont’s National Historic Landmarks – The Ticonderoga at Shelburne Museum
The steamboat Ticonderoga was built in 1906 and operated as a day boat on Lake Champlain, serving ports along New York and Vermont shores until 1953. Today, the remarkable Ticonderoga is on display at Shelburne Museum and portrays life on board in 1923 with guest rooms, table settings, newspapers, cars and more. Take a 3D interactive tour created by 3D Vermont

12. Attend a State Fair
State fairs are sometimes just what you need on a warm summer night – the Ferris wheel, fried dough, live music, and the dunk tank!

13. Play with Animals at Your Local Shelter (or Donate)
Stop by your local Humane Society or shelter and see if they have any animals who could use some play time or cuddling. If not, they usually have a “wish list” on their website with items that they need donated. You could drop a couple items and feel good about helping.

14. Take a Stowe Gondola SkyRide
For an amazing view and fun ride, take a Stowe Gondola SkyRide. From the top of Mt. Mansfield, you can access hiking trails, shop at the Summit gift shop, or enjoy lunch at the Cliff House Restaurant. Click to learn more

15. Make a Summer Scrapbook
There are so many apps that make it easy to order photos right off of your phone, but Costco is incredibly easy as well. You can print 100 photos for under $15.

If you have any questions about buying and selling real estate contact Mike Conroy at 802-363-3356 or mike@conroyandcompany.com.

Conroy & Company is a Keller Williams Vermont team of Realtors located in South Burlington, Vermont. Our mission is to serve our clients with the highest level of personal commitment to helping them reach their goals. Our focus is to bring the latest technology and marketing skills to our clients, and do so in the most personal, hands on way possible. Our collaborative, strength in numbers approach to exceeding your expectations, has helped keep us in the top 2% of Vermont agents/teams ever since 2003.

 

4 Essential Reasons to Consider Purchasing a Duplex

The vacancy rate in Chittenden County has dropped from 4.4% in December to 2.7% in May, according to Allen & Brooks’ latest market report. With a rate this low, it is an investor’s market! Very low vacancy rates may cause rental prices to dramatically increase with demand.

If you are looking to start building equity, owning a duplex offers the perfect blend of both personal and business investment. The clear advantage over single family home ownership is the income revenue stream that a duplex generates. Here are Mike Conroy’s 4 essential reasons to consider purchasing a duplex:

1. Own a home AND have some cash flow!
A duplex allows you to occupy one side and gives you the ability to create a cash flow source. Investment and utility all in one.

2. Home equity FASTER!
Use your rental income to leverage your mortgage payments. Use the rental income as an extra monthly payment on the mortgage and effectively half your mortgage term. You’ll reduce the interest paid and accelerate your home equity- which can be borrowed against if needed.

3. A unique living situations for caregivers
If you need to take care of someone in your family who needs close supervision, but both parties prefer a bit of privacy, the space a duplex is a simple solution.

4. Future rental options.
After owner occupying your unit for some time you can build equity and when you’re ready to move to your next property, you’ll have a rental property. By that time, you’ll completely understand running a property and have perspective as both the landlord and tenant.

Browse a sampling of duplexes for sale:
Chittenden County
Franklin County
Grand Isle County
Addison County

Contact Mike Conroy with any questions about buying and selling real estate at 802-363-3356 or mike@conroyandcompany.com.

Conroy & Company is a Keller Williams Vermont team of Realtors located in South Burlington, Vermont. Our mission is to serve our clients with the highest level of personal commitment to helping them reach their goals. Our focus is to bring the latest technology and marketing skills to our clients, and do so in the most personal, hands on way possible. Our collaborative, strength in numbers approach to exceeding your expectations, has helped keep us in the top 2% of Vermont agents/teams ever since 2003.

11 Common Home Seller Mistakes

Selling your home can be difficult. It’s often times an emotional, stressful, and time-consuming process. We’ve put together this list of costly seller mistakes to help you if you’re thinking of selling your home.

1. Incorrectly Pricing Your Home
It is important to have access to the latest comparables on the market, have an unbiased approach, and price the house competitively. Homes that are priced too high end up sitting on the market for a long period of time and typically result in multiple price reductions and lower offers from buyers who feel less urgency.

2. Underestimating Curb Appeal
“You never get a second chance to make a first impression”. Make sure to keep the lawn mowed, leaves raked, gardens and walkways weeded, sideway cleared, and bushes trimmed. Paint window trim, plant some bright flowers, and be sure to pick up any trash or debris that might have dropped or blown on your property.

3. Being Too Emotionally Involved
Sellers need to emotionally detach from the house when selling their home. This is a real estate transaction, and they need to think like a businessperson, with a financial perspective.

4. Bad Photos
According to Realtor.com, 92% of homebuyers begin their search online; they begin their search with images. Sellers should not rely on iPhone photos or taking their own pictures. A good real estate photographer doesn’t just photograph rooms – they capture the home’s character, personality and charm.

5. Postponing Repairs
A home that has little to no differed maintenance is more likely to get a higher priced (or full priced offer) than a home needing obvious repairs. When sellers don’t take the time to repair problems prior to the home going on the market, they typically get a lower offer and the buyer asks for money back at closing to go toward repairs.

6. Not Taking the Time to Prepare the Home for Sale
Take some time to de-clutter, tackle the honey-do list, clean, and depersonalize your home so buyers can imagine themselves in your home. See our Top 10 Tips for Prepping Your Home for Sale

7. Attending All Showings
Buyers need to be able to imagine themselves in a space and they can’t always if the sellers are home. Additionally, buyers are less likely to give honest feedback directly to the seller so not to hurt any feelings.

8. Refusing to Negotiate
Sellers should always start with a fair and competitive price, but also be flexible for negotiating.

9. Not Disclosing Everything Upfront
Disclose everything about the home in appropriate disclosures upfront. If you’ve had pests, water in the basement, or even a leaky toilet for the past month. When buyers uncover issues that weren’t disclosed – through the inspection or after the sale – it can often times turn into an expensive problem (or lawsuit) for the seller.

10. Not Hiring a Realtor
There are many different layers to selling a house. Hire a skilled professional who can help you with preparation, pricing, marketing, negotiating, and to be your advisor during this process. Transitions often times get complicated once they’re under deposit, depending on the various types of contingencies that have to be met.

Selling your home with an agent could net you $60,000 more on the sale of your home. The National Association of Realtors 35th anniversary edition of the Profile of Home Buyers and Sellers report indicates homes sold with an agent or broker received a median of $245,000 in 2016 compared to the median selling price of $185,000 for For-Sale-By-Owner (FSBO) home sales. The price drops even lower to $168,300 when the FSBO knew the buyer. Selling For-Sale-By-Owner could cost you $76,700 (1). Hire a professional.

11. Selecting a Realtor for the Wrong Reasons
People often times feel obligated to work with a family member or friend who is Realtor, as opposed to selecting an based on their sales experience. Real estate is usually our greatest asset, and it should be trusted to someone most qualified.

Want to find out how much your home is worth? Visit here or contact Mike Conroy at 802-363-3356 or mike@conroyandcompany.com.

Conroy & Company is a Keller Williams Vermont team of Realtors located in South Burlington, Vermont. Our mission is to serve our clients with the highest level of personal commitment to helping them reach their goals. Our focus is to bring the latest technology and marketing skills to our clients, and do so in the most personal, hands on way possible. Our collaborative, strength in numbers approach to exceeding your expectations, has helped keep us in the top 2% of Vermont agents/teams ever since 2003.

Source:

(1) Riggs, Amanda. “Homes Sell For More With A REALTOR® Than If You Sell Solo, Research Says.” Economists Outlook. N.p., 2016. Web. 07 June 2017.

Helping First Time Home Buyers with the Process (An Interview)

Buying a home for the first time can be stressful. In the following interview, Dave Kleh, Realtor at Conroy & Company – KW Vermont Real Estate, provides some of the advice he gives his first time homebuyers when they’re going through the process as well as his advice to them for the future.

What is it like working with buyers who are purchasing for the first time?

Buyers may know what’s on their wish list such as “location, number of bedrooms, and a garage.” However many first time homebuyers don’t know about the important things like the roof, windows, and furnace. I want to make sure they know if they’re going to buy an old house with old windows, they need to have a budget to replace them. That’s the type of thing that they really look to a professional like me for. A lot of people don’t realize there are different types of heating systems – forced hot air, baseboard, radiant… and even different types of heat like gas, electric, or propane.

A lot of education is involved. I often times feel like a teacher or a parent to some of my buyers. I do everything I can to make sure they don’t buy a house that may have too many unforeseen repairs that they can’t repair.

What advice do you give first time homebuyers about their future?

I always consult with them about their exit strategy. If they’re finding issues with a house, for instance, if it’s next to a busy highway, chances are, you’re going to have issues with buyers when you go to sell it. The average American family moves every 7 years. Start with something small, built up some equity, and build up to your next house.

On average, how long does it take to buy?

It all depends on the buyers. Some folks buy right away while others take a bit longer. I’ve had some buyers lose their job mid-search and they called me 2 years later when they were able to begin looking again. It’s rewarding to be a part of their journey.

What should buyers do prior to beginning a home search?

They should first meet with me to consult about the home buying process. They then should go to a bank and get pre-approved so they can find out how much they can afford.

What to you like most about working with buyers and sellers?

The best part is when the closing is done and the people own a house. They’re euphoric – they have butterflies. They’re happy and excited to be starting a new life in their new home. All along the way, I’m their “property manager”, “psychologist”, Realtor, etc… but at the end of the day, when they’ve gotten their keys and deed, it’s just the nicest feeling when you’ve helped them get to that point.

How did you get into real estate?

I owned a local business, Pizza Putt, for 13.5 years and decided to do something different at 47 years old. After I sold the business, I acquired my real estate license. I was always interested in real estate, and several friends encouraged me to become a Realtor. I got the study books, took the tests, and passed both the national and state tests with high 90’s.

For over a decade, Dave has been selling real estate in the Greater Burlington area. He began selling real estate in 2005, joined KW Vermont in 2010 and Company & Company in 2012. You can ask Dave any of your real estate questions at dave@conroyandcompany.com or 802-363-1820.

Conroy & Company is a Keller Williams Vermont team of Realtors located in South Burlington, Vermont. Our mission is to serve our clients with the highest level of personal commitment to helping them reach their goals. Our focus is to bring the latest technology and marketing skills to our clients, and do so in the most personal, hands on way possible. Our collaborative, strength in numbers approach to exceeding your expectations, has helped keep us in the top 2% of Vermont agents/teams ever since 2003.