Foote Farm II : Just minutes from Middlebury College Campus.............................. but miles away .

Foote Farm II is a planned residential community of 22 homesites in the heart of the Champlain Valley of Vermont. Located in historic Cornwall, just three miles west of Middlebury College and mid-way between Burlington and Rutland, Foote Farm is situated on one of the most beautiful tracts of land in the Middebury area. Lake Champlain and the Adirondack Mountains are ten miles to the west; the Green Mountains five miles to the east.

The homesites and common areas of conserved land were part of a farm that had been in the Foote family for over 200 years. Foote Farm homeowners have common use and ownership of 112 acres of open farmland, a large protected wetland and deep hemlock forests, preserved in perpetuity through a partnership with the Middlebury Area Land Trust.

Each site is fully permitted and ready to build in the traditional style of New England. Underground utilities and a state-of-the-art community septic system are in place and stubbed to the entrance to each lot.

Twenty of the original 22 lots were recently acquired by an existing Foote Farm homeowner and are offered for sale at prices up to $50,000 below original listing prices — making this desirable community even more appealing and affordable.

22 secluded building lots in a pastoral setting
Off Route 125 - minutes from Middlebury College
Over 100 acres of common-use conserved land
Each building site unique; covenants in place
Wildlife corridor through dedicated natural areas
Enjoy the cultural, culinary, athletic and social opportunities of a "college town" community.



Questions? Would you like to schedule a visit to Foote Farm?
Contact Chris von Trapp. 802-846-9525 (o), 802-343-4591 (c). www.chrisvontrapp.com

Buying an Old Vermont Home: Truth 5

Truth#5: Vintage Homes are a great value: While often viewed as a “money pit”, older homes can offer you the most home and square footage for the money and here are some of the reasons why. When a new home is built buy the new home owner, the first part of the process involves finding a suitable lot, at today’s market value. Then you have to contract with an excavator to install the driveway, bring the utilities into the site and to the new home, do the site work, foundation hole, backfill, construct the septic system, all at today’s prices. The home is then built, once again, at market prices for materials and labor costs. At the end of the process, the bills are tallied and the total cost for the home can range for a low of $200/ square foot to $400/sq ft.

When an older existing home is priced for re-sale, it is compared to recently sold homes on the market with the appropriate corrections made for major differences in size and amenities. You never go back and start the valuation of an existing home by determining the current value of the lot in today’s market and then add the cost to reconstruct the existing home. In fact the land value in a comparative market analysis of an existing home is virtually discounted to zero. In the case of older homes with much of the original woodwork, built in’s, solid wood doors and hard or softwood flooring, the price to reproduce the finishes is not only exorbitant but in some case impossible. In the final analysis, a pre-existing older home of restorable quality is most often priced far below the underlying land and construction value of the same home if built new. While the restoration of the structure and updating of the mechanical and electrical systems can be expensive, when completed you will have that special one of a kind family home to enjoy and remember forever.

So take heart and if you have always dreamed of owning a Vermont Vintage home with all of the warmth and charm that only an older home can offer, go for it. By understanding the pro’s and cons and not setting unreasonable expectations, you can find that great older home perfect for you and your family.

Should I Take My Home Off the Market During the Holidays?

When you look at your November and December calendars you may find the months already overloaded with seasonal obligations -- shopping, entertaining, children's pageants, charity work, decorating the house, and so much more. If you are also trying to sell your home, you are under extra pressure to keep your home in "showtime" condition. And that could be the last thing you need before the holiday spirit is broken. It is understandable why you would be tempted to take your home off the market during the holidays. And the list of justifications is long. If you are too busy, buyers may be also, and you may find your efforts unrewarded by enough showings. And what if you do get an offer? You may be faced with the possibility of packing and moving during the busiest time of the year. Besides, you can give your house a rest, and it will have better momentum after the holidays. Better to just pack it in and start fresh in January, right? But wait! Most top Realtors agree that taking your home off the market during the Christmas season is a mistake. The house sure isn't going to sell off the market! What is the advantage of that? So you're busy. Let your Realtor do the work. You can leave in the morning, go to work, go shopping, and let your Realtor take care of things. The holidays are a wonderful selling period. Why? Because most people take off work sometime during the season. The husband and wife are both off and want to see houses. Most agents like the holidays because the buyers have more time, and they can look at homes together.

Before you take your home off the market, consider the following points:

• Although buyer activity may appear to slow down, the buyers who are actively looking during the holidays are that much more serious. Agents believe the home market is no more affected at Christmas than during other "busy" periods. If that were so, the market would shut down throughout the year as families concentrate on spring weddings, June graduations, summer vacations, and autumn back-to-school activities.
• Many buyers deliberately choose to shop for a home after the busy spring and summer rush. They know that it will be easier to look, and that negotiations will be less stressful. They may not have children, or they may have grown children, so moving to accommodate the school year isn't a consideration. Finding the right home at the right price, however, is.
• Relocating families often don't have a choice when they can leave for their new destination. Although 68% of transferring families have children, many families have to transfer during the middle of the school year. These families are that much more motivated to get their families settled in before either the January semester begins, or to arrange for the move during spring break in March. If you sign a contract by New Year's Eve, the timing couldn't be more perfect.
• At Christmas time, our culture focuses on family and the home. Preparing for the indoor activities of winter is one of the most enjoyable periods of family life. Allowing buyers to view your home during this most hospitable of seasons lets them better picture their own family life in the attractive environment you have created.
• When is your home ever more beautiful and inviting? You have cleaned and decorated, and your home looks like a picture postcard. If the results are good enough for family and friends, they will surely be good enough to impress your buyers. Get the family team on board to do a five-minute blitz pick-up every morning to keep holiday messes to a minimum.
• With reduced inventories and motivated buyers, you will have all the members of the MLS on your team. You may find you have more showings than you would if you marketed your home during a busier time of the year.
• If you do get a contract, you can arrange the terms to suit your needs. If moving during the holidays isn't an option, you can put in the closing date of your choice. Most people can close 30 to 60 days after a contract is written, so there is plenty of time. Possession and closings are very negotiable.

Written by Blanche Evans - Realty Times

Safe Havens in Real Estate

Here is a great article that was passed onto me from a coworkers. It just helps to show that real estate in local and not national. Vermont is a great place to buy.

With foreclosures skyrocketing and home prices plummeting, real estate has had a tough year. But in certain pockets across the country the damage has been minimal -- if nonexistent.We found six cities with slow, steady growth, using data from Fiserv Lending Solutions, a home-price research company. These cities' local economies have kept unemployment and foreclosure rates below average. Plus, their affordability index -- a measure of home prices versus family income -- is low.

Burlington, VT
Population: 145,360
Median home price: $250,000
12-month change in home value: +1%
Affordability index: 4/10
Homes sold this year: 592
Home value vs. national average: +21%
Top employer: IBM
On the shores of Lake Champlain, Vermont's largest city focuses on retaining its high standard of living rather than growing its population. Strict zoning standards make homebuilding difficult and discourage speculators. Burlington's small-town mentality ensures that home lenders maintain personal relationships with their clients and help them stay within their spending means. Technology, health care, and education drive the local market.

By Louis Jones, Kiplinger.com
Nov 21st, 2008

Click on the link to read the entire article: http://realestate.yahoo.com/promo/safe-havens-in-real-estate.html

Buying an Old Vermont Home: Truth 4

Truth #4: Older homes take full advantage of their site. It occurred to me a number of years ago that one of the art forms that have really been lost over the years is the proper siting of a new home. With the dawn of the planned subdivision and the dreaded cul-de-sac, homes have become nothing more than playing pieces on a Monopoly board. You divide the land, create the lots, (all nice equal rectangles or squares) and you place the homes on them in the center of the lots facing the new streets. Gone are the days of walking the land, observing the sun patterns through the seasons, noting the prevailing fair weather wind and the gales that accompany any storms, observing the natural windbreaks and landscaping all before sighting your new home. The native Vermonters lived on and made their living from the land. The thoughtful sighting of their homes and farmstead was a matter of survival. It affected the heating of their homes, the productivity of the farms and in short the well being of their entire family. It was an extremely important part of the pre-construction preparation and was often done to perfection. This is one of the best reasons to explore older homes and is the one that is most often overlooked.

Buying an Old Vermont Home: Truth 3

Truth#3: Not All Older homes are worth fixing up. I think there is a major misconception out there in the market place that all old homes are worth restoring. For the most part that is true. However I have found in my travels that there are two kinds of old farmhouses, those built by prosperous farmers with a good work ethic and pride in ownership and the other kind. Sometimes the actual historic period in which it was built will reflect in the original quality of the construction. Don’t assume that just because it was built back in “the day” by an old Vermont Farmer that the Old Vermont Farmer knew what he was doing , or was prosperous enough to be able to afford to do it right. Some of the best and the worst engineered homes that I have seen were old Vermont Farmhouses. You have to remember that “back in the day” you did not need a building permit to build; there was no building code and no building code enforcement. Having said that, there is no doubt that the finest examples of Architectural integrity and solid Vermont engineering can be found in these vintage homes and often times in parts of the house where you least expect it. So, do your research, learn about the construction methods of the day and start your search. With the right mix of persistence and knowledge, the perfect vintage home is out there just waiting for you and your family to enjoy.

Buying an Old Vermont Home: Truth 2

Truth #2: Older Homes Tend to be close to the road: It is rare to find an old vintage home that is not located within a close proximity to the edge of the road upon which it is located. The reason for this, if you think about it, is that back when many of these homes where built, let’s say 1850 or earlier, the fastest thing that was going to pass by was a horse at a full gallop. Cars, traffic, tractor trailer trucks and road noise had not been invented yet and neither had the snow plow. How convenient would it have been to build your brand new 1800th century farm house a mile and a half from the town road only to have to navigate your way to the road without the assistance of modern conveniences every time you had to leave the farm? There are occasions when you Can find older homes that are now “off the beaten path” due to historic changes in traffic patterns but on the average, if you want an older home be prepared before you pull up for the first visit to deal with it’s proximity the road. Often the perception is worse than the reality, especially in the case of older brick or stone homes. These structures seem to wear the road noise well and except in warm summer months with the windows open, can be remarkably quiet in spite of their location. Whatever you do , do not discount a home due to it’s perceived proximity to what you have decided is a busy road, go see it and spend some time there before passing judgment. Go at different times of the day and weekends as well as week days. It would be a shame to pass up a classic charmer only because of the road, without at least giving it some serious consideration.

10 Real Estate Myths Debunked

I found this on one of my favorite websites and thought it was worth sharing.

Enjoy!!!!


RISMEDIA, Oct. 29, 2008-With mortgage meltdowns, plummeting home prices and soaring foreclosure rates constantly in the news, it’s no wonder people are wary of the housing market these days. But contrary to popular belief, things are not as dismal as they seem, according to Lawrence Yun, chief economist of the National Association of Realtors. Yun debunks 10 commonly held beliefs about the current housing market, and http://www.frontdoor.com/ offers 10 related tips.

1. Peak-to-trough home price declines to date have been about 20%. Wrong. Measurements of home price declines can be skewed depending on which homes in which markets are being measured. For instance, the Case-Shiller Index, which indicates that home prices are down 20%, is heavily skewed towards homes with subprime loans and other distressed home sales. These troubled homes have experienced a steeper decline than home prices in general, says Yun, adding that both government data based on loans backed by Fannie Mae and Freddie Mac and data from the National Association of Realtors suggest much more modest price declines. TIP: If you’re selling your home, the best thing to do is price your home right.

2. The much smaller number of new homes now under construction indicates the dismal outlook for the housing market. Wrong. The inventory of homes on the market is very high, so the last thing we need now is more new homes being built. Home builders have cut back sharply on production, which will help lower inventories and stabilize prices. The builders have done exactly what market forces are dictating under current conditions, Yun says. TIP: With many new homes completed but not sold, you can find great opportunities.

3. Even when the housing market recovers, home price growth will be only 4 to 6% per year — much less than historical average returns for the stock market. Most buyers put less than 20% of their own money into a home purchase; this borrowing power can translate to a greater rate of return. This is how Yun explains it: Home price appreciation historically has been about 1 to 2 percentage points higher than consumer price inflation, which translates into about 4 to 6% per year. But this growth rate cannot be viewed as a rate of return like the stock market. The reason is that most people do not buy a home for all cash, instead making a cash down payment and borrowing the rest. The leverage this borrowing creates can magnify returns — and losses. If price growth returns to historic norm, the price growth of 4% can easily turn into 20 to 30% rate of return if the home buyer makes a down payment of 10 or 20%. TIP: Get the fundamentals right when investing in real estate.

4. Impending baby boomer retirements and moves to small homes will cause a glut of homes on the market. Wrong. The first edge of the baby boomers has reached 60 years of age and the massive bulk of that generation will soon go into retirement, but far from trading down, many of these older homeowners are keeping their homes or moving to ones of comparable size. And even if more boomers do sell their larger homes in the years ahead, Yun points out, the rapidly growing U.S. population should absorb the inventory of existing homes on the market. TIP: Active seniors can find a retirement community that caters to their needs and interests.

5. The federal government takeover of secondary mortgage companies Fannie Mae and Freddie Mac is a bailout that will cost taxpayers bundles. Too soon to tell, says Yun. It’s conceivable that taxpayers may have to cover some losses. It’s also possible that the government takeover will result in no loss of taxpayer dollars. Even if taxpayer funds are used, the bailout would be preferable to the global economic problems that would have occurred if Fannie and Freddie had gone belly up. TIP: Uncle Sam is “bailing out” homeowners facing foreclosure. Find out more about the Hope for Homeowners plan.

6. The Federal Reserve controls mortgage rates. Wrong. Yun explains: The Fed’s activities influence mortgage rates but don’t directly control them. What the Fed sets is a very short-term interest rate called the Federal Funds Rate. Mortgage rates are determined by global savings as well as credit spreads and inflationary pressures. Over the past two years, the Fed has raised the Fed Funds Rate to 5.5%, and then cut it deeply to around 2%. All the while, the 30-year mortgage rate has averaged in the 6 to 6.5% range. TIP: Today’s rates don’t look bad compared to the 10% we saw in the early ’90s and 17% in the ’80s.

7. It’s the wrong time to buy. Wrong. All real estate is local. For those who are financially and mentally ready to buy, there has never been a better time to be a buyer in many markets. An abundant selection of homes and historically low interest rates give buyers an edge over sellers. The recently passed $7,500 federal tax credit for first-time home buyers creates an added incentive. For someone with a long-time horizon, Yun says, there is very little worry about home values since homes have historically provided a solid foundation for wealth accumulation. TIP: Compare the pros and cons of renting vs. buying to see what makes sense for you.

8. It’s the right time for everyone to buy. No. All real estate is local, and everyone is unique. Someone who is not emotionally or financially ready should not be forced or induced to join the rank of homeowners, even when a market presents good buying opportunities. Potential homeowners clearly need to understand that the decision to move up to ownership requires sacrifices, like saving up for down payment and elevating their credit scores. Homeowners who lose their home to foreclosure serve no one’s interest, Yun adds. TIP: Take a good hard look at your financial status and create a homeowner’s budget to see if you’re ready to buy a home.

9. It’s a terrible time to sell. Wrong. In markets where home sales are picking up strongly, a seller can easily get an offer if the property is priced correctly. Also, Yun says, for those looking to trade-up, selling low on an existing home is more than offset by buying the new move-up home at a lower price. When the market recovers, home price appreciation on the traded-up home will bring bigger bang for the buck. TIP: Homebuyers want bargains in this market. If you price your home much lower than your competition, you might end up with a bidding war.

10. With the advent of the Internet, more and more homes are being sold by owners (FSBOs), and real estate practitioners are becoming obsolete. Nope. According to Yun, the share of home sellers who choose to go it alone when selling their home has actually decreased from about 20% in the late 1980s to about 12% today. Even after these sellers successfully complete a transaction, only 4 in 10 say they would sell their next home without the assistance of a real estate professional. TIP: You don’t have to sign a listing contract to talk to a Realtor. Ask family and friends for referrals and interview a few. You might even get some free advice.

Buying an Old Home in Vermont: Truth #1

Vintage or Antique Homes are one of my personal weaknesses and one that I succumbed to in 1997 when I purchased my very own 1820 Center hall Colonial Farmhouse on two acres. I think I can blame my parents for this love affair with architecturally significant and historic homes as they bought there first home in 1948, a 1780 Center Hall Colonial, where my mother still lives to this day.

For those of you out there who share this passion, there are some basic truths that you have to embrace in order to purchase one of these homes with confidence. I will be posting these truths over the next couple of weeks and hope that you find them helpful in deciding whether or not you really are an old house buyer.

Truth #1: Lead Paint: Yes there is most likely some lead paint located on the painted surfaces in all old homes that you may encounter. Unless they have been gutted to the studs and all of the original wood work removed, a Cub Scout armed with a camping knife and 15 minutes of un-supervised exploration time will find lead paint. If you would prefer an older home that has been gutted and replaced with all new surfaces then I would suggest buying a reproduction or totally new home of the style that you prefer. In my opinion, most of the charm of an older home is the old woodwork, trim, flooring, ceiling etc and most buyers are willing to put up with the older plumbing, wiring and mechanicals that often accompany the charm, in order to have it. To buy an older home with the old plumbing, wiring and mechanicals and the new interior may not be a wise decision and a new home may be a better choice.

The danger posed by lead paint in the vintage home is most often a factor of the condition of the paint. If the paint is in poor condition and some family member decides to dine on the loose paint chips, or worse, takes to chewing the window sills as a form of entertainment, lead poisoning is the result. Neither of these activities is advisable and will result in elevated levels of lead in the blood stream. Sanding, scrapping or stripping older painted surfaces if done haphazardly can put lead dust into the air to be inhaled with the same result. In short, if buying an older home, know that lead paint is located somewhere in the home. Don’t eat the paint or remodel without taking the proper precautions and you should be relatively safe.

While Buyers Sit on the sidelines, Interest Rates Rise to Keep Them Out of the Market

Thought I would share this article with you all. Many buyers have been sitting on the sidelines hoping the price of their favorite home will drop before they make an offer. In the mean time, interest rates are volatile and on the rise, pushing many qualified buyers into lower and lower purchase price levels. The reality is, the effect of a 1 point rise in the mortgage rates will more negatively effect your future monthly mortgage payment than will paying a little too much for your dream home. It may actually knock you out of the buying arena completely without you even realizing it.

With sellers' motivation at an all time high and winter right around the corner, the best strategy is to get pre-approved, or better yet pre-qualified, with your favorite lender and start actively looking for the perfect home for you. Once you find it, don't sit on the sidelines. Double check with your lender to be sure of the amount you still qualify to borrow( it could be changing every week or by the day!!) , and make an offer based on a sound evaluation of the market. You will be surprised at the amount a motivated seller will agree to sell for even they have have been reluctant to lower their asking price.

Mortgage Rates on Roller coaster Ride; Rise Again after Coming Down in Late October
Posted By Paige On November 4, 2008 @ 4:31 pm In Finance and Economy Comments Disabled
RISMEDIA, Nov. 5, 2008-Mortgage rates rose last week, with rates for 30-year fixed mortgages increasing to 6.26%, up from 6.00% the week prior, according to the Zillow Mortgage Rate Monitor, compiled by leading real estate website Zillow.com(R). Rates for 15-year fixed mortgages rose to 6.01%, up from 5.64% and 5-1 adjustable rate mortgages rose to 5.81% from 5.64%.
Rates for 30-year fixed mortgages appeared to be up slightly on Monday evening with the average rate on Zillow Mortgage Marketplace at 6.33%.
At a state level, the 30-year fixed mortgage rate in Michigan saw the biggest increase, rising from 6.03% to 6.48%. Rates on 30-year fixed mortgages were lowest in the states of Oregon (6.12%) and Georgia (6.14%), while Michigan (6.48%) and Massachusetts (6.40%) had the highest rates.
The Zillow Mortgage Rate Monitor is compiled each week using thousands of mortgage rates quoted on Zillow Mortgage Marketplace (http://www.zillow.com/mortgage) by mortgage lenders to borrowers who have submitted loan requests. State-level data is gathered for the top 20 states with the highest quote volume on Zillow.
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Restored Stone Farmhouse on 13 acres with Views

This 181oc. Farmhouse is one of my personal favorites and if I didn't already live in a restored farmhouse.......... well, you know. This property had not been inhabited for almost 20 years when the current owner purchased it from the estate of the last owner and went to work. She began by assembling a crew of local artisan tradesman schooled in every discipline, from masonry and slate work to electricians and plumbers. The crew than began a methodical peeling back of surfaces that could be restored and gutting others to the bare post and beam supports in preparation for a full restoration effort that resulted in this beautiful home. The thing one has to understand about this ," Old House" , is that the structure and all the finishes have been restored while the mechanicals, electrical, plumbing, heating and septic system where all installed new and in such a way as to not compromise the original finishes. In short, this home looks and feels like it is 200 years old but the next owner will not be inheriting any old or antiquated systems in the process.

In any event, this property is situated on 13 acres and is surrounded by hundreds of acres of conserved farmland that will never be developed. The views to the east are of the spine of the northern ridge of the Green Mountains. You can literally see the four highest peaks of Vt from the front yard, Mt. Mansfield, Camel's Hump, Mt. Ellen and Mt. Abe as you scan the horizon from north to south. The home has four levels of finished space within the stone portion of the structure as well as a two story 20'x40'unfinished post and beam Ell. The kitchen has a raised Panton Stone hearth and a 5' high firebox. There is an identical fireplace located in the walkout basemen level " office space" that could be easily transformed into an authentic keeping room style tavern. All of the original doors, floors, woodwork, and hardware are intact and functional throughout the entire house. The second floor has had the most extreme renovations done with the creation of a full sized master bedroom and bath as well as a shared 3/4 bath for the other two bedrooms on that floor. The entire house is a restored work of art and yet still retains the cozy inviting charm of a home you would love to really "live" in.

To top it all off , the property is located just 5 minutes drive from Vergennes which has fast become one of the most desirable and sought after Vermont towns in which to live. The main street business district has been totally revitalized over the past ten years with a number of restaurants, shops and services all within walking distance of the central core of the town. Historical Otter Creek cascades over the falls located above the basin and the creek flows 8 miles through the country side and out to Lake Champlain , passing within walking distance of this very property. Burlington Vt and the International Airport are a 35 minute drive away and offer all the amenities and conveniences you would expect from Vermont's largest city.

So don't let this one pass you by. You can see more pictures and a full virtual tour by clicking the photo above. You can also get all the data at my website, http://www.chrisvontrapp.com/

451 Sunset Ln, Ferrisburg

This is a really magical Victorian Camp that was actually built as a duplex "back in the day". It is two identical three bedroom , two story units under one Victorian roof. Built around 1902, it is located just north of The Basin Harbor Club on the shores of Lake Champlain. Follow the link to Basin Harbor Club to get more information about it. The neet thing is the Basin Harbor Club is actually open to the public and local folks get a Seasonal Social Membership that costs around $700 a year. It entitles you to the use of the waterfront beach and swim area, tennis courts, swimming pool and general use of the 700 acre resort. For an extra fee, there is an 18 hole Golf Course and motorized water sports. For the aviators out there, the have a nicely maintained grass airstrip.
Getting back to the " cottage", this is a great opportunity to establish a family, extended family or friend and family lake shore compound. This building lends itself perfectly to shared, multi-ownership, or timeshare style ownership. It has two spacious units with third floor expansion possibilities. The front of the building has a full length old fashioned porch big enough for a barn dance. The gently sloping lawn wend at the top of a field stone retainer with built in stone steps down to the real sand beach; Not pea stone, or shale or slab of ledge, but a real sand beach. The concrete dock extends out from the beach into deep water with a swim ladder built into the end. This whole package is situated in a protected cove with great mooring spots and huge views to of the Adirondack Mountains just across the lake. It truly does not get any better than this.

So check this out, call your friends and get together a group of six people or so and give me a call. With two units, six families could each enjoy a month on the lake in one of the signature lake shore properties in Ferrisburg, VT for a little more than $200,000 each.

Check in again soon where I will feature another truly unusual Vermont property.