Addison County Market Update

I do not consider myself much of a bean counter but I do keep my eye on sales statistics as a tool to measure market activity as well as to help my selling clients understand what to expect with regards to the current buying activity. So, let’s take a look at market activity in Addison County. Addison County sales year to date (11/2/09), compared to last year sales are off about 16%, the average sale price has dropped 12% and the average days on the market is up 27%. While the market is not as stagnant as it feels at times, you do have to be reminded that all of the sales figures were off when comparing last year to the year before. The two year sales comparison shows that the total drop in sales for the two year period was 22%. The statistic that I find most interesting is that we actually had about 2% fewer listings this year than last. If you asked most people on the street, they would tell you that there were many more homes on the market than in prior years. Perception is not always reality.

If you look at the Land Sales data, you’ll see much more of a dramatic drop— with total number of lots sold down 50%, average sale price down 35%, and average days on the market up 37%. Clearly, these numbers reveal the sobering fact that the slowdown in the building industry is directly effecting the marketability of building lots. Once again, in spite of the sluggish sales, there are actually 6% fewer lots currently on the market than there were during the same time last year.

In spite of the grim statistics, I do have to report an increase in both phone call volume as well as e-mail inquiries in all sectors with a marked increase in what I call discretionary real estate purchases such as lakeshore, second homes and, yes, building lots. This increase in activity has been in the last 30-45 days and it is not necessarily tied to the first time home buyer’s credit. It seems that the buyers in this category have determined that the sky is in fact not falling and they are beginning to plan for the future and getting on with whatever plans they had put on hold last August. So stay tuned. I will be doing a year end re-cap after the first of the year which might be helpful for you to plan your next real estate move.

Wishing you all a very Happy Thanksgiving. - Chris


* Graph- As Reported by VREIN for Addison County, YTD 1/1/09— 11/2/09 vs. 1/108—11/2/08.

GREAT NEWS FOR FIRST TIME BUYERS & THOSE LOOKING TO MOVE UP!

The Worker, Homeownership, and Business Assistance Act of 2009 has extended the tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence by April 30, 2010. It also authorized a tax credit of up to $6,500 for qualified repeat home buyers who have owned their primary residence for 5 of the last 8 consecutive years.

Click here for more details!

$8000 Credit May Be Extended !!

I had this article sent to me by my favorite mortagage originator . Check it out!!

Nelson Says Senate to Extend, Reduce Homebuyer Credit (Update1)
By Ryan J. Donmoyer and Dawn Kopecki \

Oct. 26 (Bloomberg) -- Senate leaders are negotiating to extend and gradually reduce an $8,000 tax credit for first-time homebuyers through 2010, Senator Bill Nelson of Florida said.
“We should be able to extend that later this week,” Nelson, a Democrat, told reporters traveling today with President Barack Obama on Air Force One to a speech in Jacksonville, Florida.
Senate Majority Leader Harry Reid of Nevada and Senate Finance Committee Chairman Max Baucus of Montana, both Democrats, may seek to add the homebuyers extension to legislation extending unemployment benefits that may be debated as early as this week, according to Regan Lachapelle, an aide to Reid.
Lawmakers are under pressure from real estate agents, mortgage brokers, and homebuilders to extend the $8,000 credit before it expires Nov. 30.
Baucus and Reid made a proposal last week to Senate Republicans that would extend the homebuyer credit through 2010, Lachapelle said. First-time homebuyers who close before April 1 would get the full $8,000, and the credit’s value would be reduced by $2,000 in each successive quarter until expiring at the end of the year.
The proposal was intended to counter one by Senate Banking Committee Chairman Christopher Dodd, a Connecticut Democrat, and Senator Johnny Isakson, a Georgia Republican and former realtor, to extend the full $8,000 credit through next June, and to expand it to all couples earning $300,000 or less. The Baucus- Reid proposal would continue limiting the benefit to first-time homebuyers, Lachapelle said.
Business Tax Break
Baucus and Reid also proposed an extension of a business tax break that allows companies with losses in 2008 and 2009 to amend tax returns for any of the previous four years to get a refund of taxes paid. Without the benefit, companies would have to wait years to apply those losses against future profits.
A version of the benefit was included in last February’s economic stimulus bill, though it was limited to companies with receipts under $15 million. A lobbying effort by business groups, including the Washington-based National Association of Manufacturers, to extend the benefit to all companies failed at the time; the Obama administration has since proposed a broader benefit in its budget.
The terms for extending the homebuyer tax credit are still being negotiated, Lachapelle said.
To contact the reporters on this story: Ryan J. Donmoyer in Washington at rdonmoyer@bloomberg.netDawn Kopecki in Washington at dkopecki@bloomberg.com Last Updated: October 26, 2009 13:33 EDT

Take advantage of the tax credit. Time is running out!

Rose are Red, Violets are Blue....

I just got done trying to convince my daughter, who is a senior in college and an creative writing and poetry major , of the power of the internet. I have encouraged her to start her own blog and to share all of her great essays, poems and short stories. When you consider the age and cultural difference between a 54 year old and 21 year old you might expect these roles to be reversed.

In any event, I have decided to post some of my own poetry as an illustration of the power of the internet and how she could be using it to her advantage. So here goes a short and quick poem for you all to enjoy. Comments would be welcome and appreciated.

Gone is the day
the sun says it's last goodbyes
wisps of orange pink clouds hang
like gosimer wings
Tomorrow brings a new sun
another day

Are you hoping to take advantage of the First Time Homebuyer Tax Credit?

In order to be eligible for the Tax Credit you must close by November 30,2009. In order to close by November 30, 2009, you will need to have you home under contract by October 15, 2009.

Call me today to help you being your home search!

If you have any questions about the tax credit or the real estate market, please give me a call.

Chris

Huge Lake Champlain and Adirondack Views from this fully permitted 3.2 Acre Lot!!!

In my practice of selling real estate , I happen to list and sell a number of building lots; Many more than , most agents in my market. I am always asked by buyers to contact them when and if I ever come across a permitted building lot with views of Lake Champlain and the Adirondack Mountains. Well, it just so happens that right before the big " downturn" in the real estate market, I was fortunate enough to be asked by the current owner to help him sell this great, once in a lifetime lot. It is located on the south west side of Charlotte, VT and has some of the best lake and mountain views I have ever seen. In addition, it is easily accessed off of a town road, has power, cable and telephone lines within 50 ft of the best building site and has a three bedroom state approved septic design.

If not for the market slump and drop in construction starts, this lot would have sold a year ago. Don't let it get away!! Call me today or e-mail me for more information.

P.S. I hope you enjoy my attempt at a video tour of this lot.

New Program with a Little Assurance

While it's true that our local real estate market has not experienced the declines other markets across the country have experienced - there is one common theme across the country: buyers are cautious. The reality is this is a great time to buy. Mortgage rates are low; inventory is good; and some buyers are eligible for an $8,000 federal tax credit. But still, buyers remain somewhat cautious.
Coldwell Banker Hickok & Boardman Realty has designed a program to give home buyers peace of mind and protection during the first year of home ownership called The Buyer Assurance Plan. Coldwell Banker Hickok & Boardman Realty is the only company in our market offering this Plan!
This plan combines a Home Mortgage Protection plan in the event of a job loss and/or a Home Warranty on many major appliances and systems in the home for one year.
As a Seller, you may choose to provide this coverage for a Buyer, distinguishing your home from others on the market. The Plan will provide a cash payment to the Buyer for up to 4 months and as much as $1500 per month in the event the Buyer loses their job. The Buyer Assurance Plan may also include Home Protection, covering the repair or replacement of many of the most frequently occurring breakdowns of home systems and appliances. There is no sign up fee for you to add this marketing program to your home and premiums are paid at time of closing. Like any insurance plan, some restrictions would apply - so we encourage you to read the FAQ's provided by the two carriers. http://hickokandboardman.com/bap_faq
As a Seller, here are a few benefits of this program to you: 1. Peace of Mind Protection - addresses the fear of job loss by paying a cash benefit directly to the home buyer if their income stops due to job loss 2. Marketing this plan differentiates your home from others on the market 3. Encourages buyers to make a positive purchase decision 4. No sign up fee's 5. No premium payment is due until your home closes! Coldwell Banker Hickok & Boardman Realty has bundled these two separate insurance plans together. However, the plans may also be purchased separately. The combined cost of the Plan is $754 for a single family home or $714 for a condominium (due at closing). I believe this program is worth considering. Please contact me with questions or to receive additional information. If you are interested there is a simple opt-in agreement I would be happy to send you.

Spring has definitely arrived! The grass is growing, daffodils blooming, the swallows have returned to Capistrano and yes, even the buyers seem to be slowly wading back into
the waters and looking at homes to purchase. The new Stimulus Package is the cause of some of this activity as the buyers realize they have a once in a lifetime advantage to get an $8000 tax credit, get a low mortgage rate and buy a new home at a fair price. As the first time homes are purchased, those sellers will hopefully become buyers of larger more expensive homes and the “ trickle up” theory will kick in, with more homes being sold as a result.
If you hoped to sell your home in 2009 and you were waiting until Spring to arrive, it is here and the time to act is now. In considering things you need to do to get your home
ready for this very competitive market, staging your home’s interior has become a must as you will often only get one chance to make a good first impression.
With spring upon us, you need to also apply the same concept to the exterior of your home. You want to be sure the lawn is mowed; the flower beds are properly edged and weeded. Perhaps this is the year to splurge on some extra special annual flowers to add color and interest to your existing foundation planting. But be careful, don’t go overboard. Too much garden space can be overwhelming to the nongardening buyer. So keep it simple, colorful, and be sure to pick plants that will give you flowers through the entire season. If you need help in deciding exactly what you should be doing inside and out, give me a call and I would be glad to give you some pointers. Our “Home Services” tab at www.HickokandBoardman.com has a group of service providers who have aligned with us to help you get your home ready for sale and get you the highest price in the shortest amount of time. Give me a call and I would be happy to do a full Comparative Market Analysis which will give you up to date statistics on the market and how our home
would compare.

The Stimulus Package & Buying Up in a Down Market

So here you are, living in a home that no longer meets your needs and you want to know if it makes any sense to make a move “in this market.” If you have a home or condominium that is now too small for you and your family you should keep reading. Let’s set up the following scenario. Two years ago, when you did not want to sell, you might have gotten $250,000 for your home. Now, two years later, your house is not getting any bigger, and your home is worth $225,000. If you do sell, you are planning to stay in the area, or moving to an area that has had housing prices that have fallen far more dramatically than here in VT. In either case , you will be buying a bigger, more expensive home. Two years ago that home would have cost you $375,000 but now you see that homes of that size are now selling for $325,000. As an added bonus, the interest rate has dropped from 6% to 5% or less. Under these circumstances, assuming your employment situation has not changed, you have a better opportunity than ever to buy up for less total purchase price and at a lower interest rate.
The difference in your monthly mortgage payment will be far less than it would have been 2 years ago. In addition, that larger house that you just bought at a bargain price is now going to appreciate in value at a higher rate and out perform the appreciation of the home your currently in during the next up swing in the market. Although there is more inventory available in the 0-$250,000 price range, the rate of sales year to date actually results in a shorter market time for the house you will be selling than price range you will be buying into. With longer market times at the higher price ranges, you will have time to sell your home in order to buy the next one and the sellers may be more flexible on price. And this is where the stimulus package starts to work for you. As the deadline of December 1, 2009 approaches, more and more first time home buyers will recognize the opportunity and make their first home purchase driving the market for your home and others like it. As a result, we should actually see the market time for the first time home shorten as demand increases which will further improve your chances of you achieving your goal. In short, if you are looking to step up into a larger home, now may be the time to make the move.

Homebuyers Fair

Home Buying Made Easy! A Free Semiar Hosted by Seven Days!

Presented by Chris von Trapp, Coldwell Banker Hickok & Boardman and Jay Vallieres, Mark Chaffee Group of Mortgage Financial

Find out everything you need to know before buying a home — from loan pre-approval to closing.
*PLUS get information about the 2009 First Time Home Buyer Tax Credit — up to $8000 in your pocket!
Thursday, March 26, 6-8 p.m.
ECHO Lake Aquarium & Science Center
5:30 Check-in, light dinner provided
RSVP required http://www.sevendaysvt.com/

Do you qualify for the First Time Home Buyer Tax Credit included in the Stimulus Package?

Now that the Stimulus Package has been signed into law, buyers are asking a lot of questions and want to know if they qualify and what it may mean to them for there first home purchase. Here are some resources that may help.

Enjoy,

Chris

WCAX-TV helps explain how the First Time Home Buyer Tax Credit can benefit you when purchasing your first Vermont home
The National Association of Home Builders has provided a list of frequently asked questions related to the $8000 First Time Home Buyer Tax Credit
Use this chart to understand the difference between the previous $7500 tax credit and the current $8000 tax credit passed by Congress
Related Links
Open HouseVisit an Open House this Sunday from 1 - 3Know Your TermsReal Estate Glossary Free Credit Consultation
Vermont Real Estate Tools
Mortgage CalculatorAffordability CalculatorColdwell Banker Video LibraryLearn more about

Sleeping Burlington Vt Market Stirred by Stimulus

Here is a bit of good news for buyers and sellers alike. The Stimulus Package was just signed into law last week and seems to be having an immediate effect here in the Burlington VT area. This impression is not based on any sound scientific study or empirical data, so take it for what it is worth. It is based on a "boots on the ground" observation I made over this past weekend. Here is the story.
I am helping a family relocate here from out of state and they had a schedule that required us to be out seeing all we could see yesterday, Sunday. I had attempted to make an appointment at one particular property, along with several others, and we were asked if we could come by during the Open House from 1-2pm rather than disturb the occupants in the morning of the same day. With a little bit of re-schedule we were easily able to accommodate the request and agreed amongst ourselves to see it at 1:30pm.
I arrived a little early and thought I would pop in and get a quick preview as I had only seen the home on the Internet. As I approached the house I observed cars lining the street and one in the driveway that was not the Realtor's car who was holding the Open House. Car count was four at 1:30pm. I parked on the street and went in too take a look. As I was entering , two parties left. I dropped my shoes at the door and began to look around. In the next 15 minutes four more parties showed up and then the family I am working with. Counting my clients, there were eight showings of this one home in the first hour of the Open House.
This home was built in the late 1960's but has been well maintained with new paint and carpet and other improvements. It is not a foreclosure nor is it owned by a relocation company or being offered in a short sale. All of these issues might be the cause of a high traffic count but this was not the case in this situation. This house has been on the market since last August so it was also not new to the market. The REALTOR holding the Open House was overwhelmed since she had been holding Open Houses since the beginning of the year in similar homes and always brought other work to do as she as she sat there with no viewings.
Maybe this is an isolated case or the Denny's at the foot of the street was offering free Grand Slam Breakfasts for all attendees. What ever the case, the renewed interest in buying real estate by those viewing this house felt invigorated and fresh. So if you are selling your current home , take heart as there appears to be the beginning of a Spring real estate market taking shape.
If you are a buyer and you have been sitting on the sidelines waiting for all the stars to line up, this could be it. The pricing has adjusted, sellers are motivated and want to get on with their lives. The interest rates are hovering just below 6% and I have heard of some 5% quotes to buyers from some lenders, depending on credit scores. The inventory in and around Burlington that is affordable priced is low and once these looking buyers act, it will not last long. The good news is if the sellers who have been sitting on the sidelines, sense that they may get a fair price on their home this Spring , you will see more inventory enter the market and replace the homes that are purchased.
What this market needs is some active and motivated buyers who are well positioned to get off the fence and get this market moving again.

Stimulates the First Time Homebuyer but You Have to Buy to Win!!!

I was sent this this morning from our in house mortgage loan originator. I thought it might add some clarity for the first time home buyer.
Enjoy!!

Chris

By Les Christie, CNNMoney.com staff writerFebruary 16, 2009: 5:38 PM ETNEW YORK (CNNMoney.com) --
There's a nice windfall for some homebuyers in the economic stimulus bill awaiting President Obama's signature on Tuesday. First-time buyers can claim a credit worth $8,000 - or 10% of the home's value, whichever is less - on their 2008 or 2009 taxes.
A big plus is that the credit is refundable, meaning tax filers see a refund of the full $8,000 even if their total tax bill - the amount of witholding they paid during the year plus anything extra they had to pony up when they filed their returns - was less than that amount. But there has been a lot of confusion over this provision. Adam Billings of Knoxville, Tenn. wrote to CNNMoney.com asking:
"I will qualify as a first-time home buyer, and I am currently set to get a small tax refund for 2008. Does that mean if I purchased now that I would get an extra $8,000 added on top of my current refund?"
Not exactly. Billings won't get $8,000 on top of his current refund, but he would turn that small refund into a much larger one. If his total tax liability came to $6,000, but he had $7,000 withheld from his payroll, he would normally receive a $1,000 refund. With this credit, his refund would total $8,000. If the credit were non-refundable, as was originally proposed in the Senate version of the stimulus package, he would have only received $6,000, or the total amount he paid in.
To qualify for the credit, the purchase must be made between Jan. 1, 2009 and Nov. 30, 2009. Buyers may not have owned a home for the past three years to qualify as "first time" buyer. They must also live in the house for at least three years, or they will be obligated to pay back the credit.
Additionally, there are income restrictions: To qualify, buyers must make less than $75,000 for singles or $150,000 for couples. (Higher-income buyers may receive a partial credit.)
Applying for the credit will be easy - or at least as easy as doing your income taxes. Just claim it on your return. No other forms or papers have to be filed. Taxpayers who have already completed their returns can file amended returns for 2008 to claim the credit.
Lukewarm reception
The housing industry is somewhat pleased with the result because the stimulus plan improves on the current $7,500 tax credit, which was passed in July and was more of a low-interest loan than an actual credit. But the industry was also disappointed that Congress did not go even further and adopt the Senate's proposal of a $15,000 non-refundable credit for all homebuyers.
"[The Senate version] would have done a lot more to turn around the housing market," said Bernard Markstein, an economist and director of forecasting for the National Association of Homebuilders (NAHB). "We have a lot of reports of people who would be coming off the fence because of it."
Even so, the $8,000 credit will bring an additional 300,000 new homebuyers into the market, according to estimates by Lawrence Yun, chief economist for the National Association of Realtors.
The credit could also create a domino effect, he said, because each first-time homebuyer sale will lead to two more trade-up transactions down the line. "I think there are many homeowners who would be trading-up but they have had no buyers for their own homes," Yun said.
Who won't benefit, according to Mark Goldman, a real estate lecturer at San Diego State University, are those first-time homebuyers struggling to come up with down payments. The credit does not help get them over that hurdle - they still have to close the sale before claiming the bonus.
Instead, many may look at the tax credit as a discount on the home price, according to Yun. A $100,000 purchase effectively becomes a $92,000 one. That can reassure buyers apprehensive about purchasing and then watching prices continue falling, he added.
And it provides a nice nest egg for the often-difficult early years of homeownership, when unexpected repairs and expenses often crop up. Recipients could also use the money to buy new stuff for their home - a lawnmower, a rug, a sofa - and, in that way, help stimulate the economy.

Historic Colonial with Studio/Workshop

This stately home was purchased nine years ago and lovingly painted, repaired and rejuvenated form top to bottom all the while retaining the original charm. Most of the woodwork has been brought back to it's original condition or replaced with perfectly matched new wood. The exterior porches have all been re-built and the slate roof has been repaired as needed. All of the interior surfaces have been painted in period colors and the exterior is a classic yellow, with cream trim and dark green windows and mutton's.

In short, all the work has been done and it is now ready for you to enjoy. If you an old home lover , this home will really catch your attention, as it has all the positive qualities of a center hall colonial of that era, large center hall with stairway, large four square floor plan, large windows, wide pine floors and understated, but classic, window and door trim details. Speaking of doors, the interior six panel doors in on the two front rooms are a full 36" wide, something I have never seen in any other home of it's kind.

Some people have questioned my classification of the house as a center hall colonial due to the Italianate Exterior roof trim and the hip roof design. The answer for that is that around the turn of the century , this house was on a different part of this two acre lot, and for some reason , it was moved one winter over the hard frozen ground by a team of oxen and placed on it's current foundation. I believe at that time, the roof was replaced with the current hip roof and the Italianate features added along with the porches and most likely the attached portico and studio.

Speaking of the portico, this is my absolute favorite aspect of this truly wonderful home. This covered patio connects from the north kitchen door and the west porch to the studio/workshop. In the summer it functions as a large open and airy patio that is protected from foul weather and the hot summer sun by a post and beam supported slate and metal roof. Fully opened sides on the east and the west allow for the cool breezes to flow through and make this area a truly magical one all summer long.

Directly across from the kitchen door and at the end of the breezeway is the studio or workshop. This space was originally an unfinished barn but the current owners have transformed it into a radiant heated fully insulated cabinet shop. With it's large windows and open story and a half interior, this would make a terrific studio for any artist, or a fantastically private in home office . I could see this space lined with bookshelves from floor to ceiling and into the half loft that runs along the east wall. With the double french doors to access from the drive, this is space could easily be transformed to accommodate any hobby or work interest.

2008 Real Estate Market Summary

Office Market Share- 2008 Chittenden County-Sides sold*


2008 proved to be a year of market adjustments; not only in the real estate market but for the nation's financial markets as well. As REALTORS® serving Chittenden County and the surrounding areas, the question we are often asked is "How is the real estate market - really?" There is no such thing as a national real estate market. It is critical to know that market conditions vary, not only from county to county, but also town by town.
Despite a slowing in appreciation of the average sales price of a home over the past 2-3 years, there has been a substantial increase since 2003. Unlike the financial markets, we have not see substantial drops in value. This drives home the point that real estate remains an excellent investment for the long term.
In 2008, the number of property sales declined as compared to 2007 and in most cases declined from the 6 year average number of home sales. However, in reviewing the 6 year snapshot, it mightbe concluded that 2008 was an exception to the relatively stable number of property sales throughout the years.
Increased inventories and decreased transactions add up to a strong buyer's market. Coupled with historically low mortgage interest rates, some buyers will be scrambling to purchase their first home or "move up" to a larger home in 2009. Sellers who have their homes well maintained and priced competitively can close in less than 90 days on average.
If you have any questions or would like to talk about your specific neighborhood -please don't hesitate to give me call.
(802) 846-9525
Chris@ChrisvonTrapp.com

*Soure: Vermont Real Estate Information Network (VREIN)

Chittenden County Lakeshore on Lake Champlain VT

Working your way north towards Chittenden County, the first lakeshore town that you come to is Charlotte, VT. This town is the home of one of my personal favorite summer lakeshore community: Thompsons’ Point. The land that is Thompson’s Point is still owned by the Town of Charlotte and leased for 20 year terms to the individual "camp" owners. There are no year round homes allowed by the terms of the leases and community water system is turned off by Thanksgiving and back on in May to insure that the rules are adhered to. The south side of the point has original homes that were built back in the 1800’s when Thompson’s Point Rd ended at the town steamer dock were the old post office and tavern turned camps still stand today. The North shore was developed during the 1920’s to the 1950’s and tends to have more modest structures with more abrupt and hard to access shorelines. Roughly a half dozen camps are made available for sale on either the North or South Shore areas and the prices range from $500,000 to over $1,000,000 depending on size and shoreline quality. While that may be a lot of money for only seasonal use, those who have experienced the magical environment of this summer community from another time, do not question the value.
I have rented various camps by the week from their owners in past summers and still hold fond family memories from those treasured but all too brief stays. My favorite is the Annual Forth of July Parade complete with hand pulled red wagons, participants of all ages banging pots and carrying on as they march to the old steamer dock for an appropriate speech delivered by one of the "Old Timers" followed by rousing version of the National Anthem. Good clean fun!!

Addison County Lakeshore Homes on Lake Champlain

So now that you are ready, let me give you some key towns to explore and what you can expect to find there. The Lake to the south has one major landmark that is often used as a point of reference, the Crown Point Bridge. Located in Addison Town, Addison County Vermont, it links the central part of that county to New York State, Ticonderoga and provides the quickest access south by virtue of NY Rt #87 or the Northway. Lake Champlain to the south of the bridge, while still very wide by most standards, starts to behave more like a river with a defined channel for navigation and broad expanses of shallower bays and natural marshland. North of "the Bridge" the Lake is totally navigable from bank to bank and one of the most unused parts as far north as Basin Harbor on the Vt shore and Westport on the New York side. The homes you will find both south and north of the bridge will be either seasonal and very rustic in nature, with some old style summer cottage communities , to full fledged year round homes but mostly modest in size and price. The towns you want to include in any search of this area would be Shoreham, Bridport, Addison, Panton and Ferrisburgh.
Located in Ferrisburgh, you will find Basin Harbor Club, named after the small protected harbor by the same name. It is the center of summer activity and a real attraction for year round and seasonal homeowners alike. Though it’s name makes the place sound exclusive and closed to the public, it is actually a very open resort offering reasonable family social memberships for complete us of their water front , pool, and tennis courts. For an additional fee you can also play their 18 hole golf course complete with cart. For the few members of the flying public there is a well maintained and often used grass air strip for quick day trips in and out or extended stays. Boaters can also reserve dock space by the day, week or season and North Harbor has a mooring field for transients and seasonal users alike. As you might imagine, all residences within a few miles of this great resort carry a higher value when offered for sale and the extra premium for this location is well worth it for the added summer fun and activities. Many families purchase multiple properties along this part of the lake to create an informal family compound kind of situation for all generations to enjoy. Assisting buyers in this quest during the summer is truly one of my favorite things.
As you leave the Basin Harbor area, the natural and expansive marshland formed by the confluence of Otter Creek as it empties into Lake Champlain forces you inland and through the City of Vergennes. One of the most historic cities in Addison County, it was instrumental in the US victory during the War of 1812 and the birthplace of the small armada of ships built by Admiral McDonough to take on the British. Once through Vergennes, the next significant lakeshore communities you come to is Long Point. Originally settled as a seasonal lakeshore community for the local Vermonters at the turn of the century, this area is populated by over 70 camps and cottages from rustic to completely updated all nestled in a mostly wooded enclave. While 12 of these homes are permitted for year round use, the majority are strictly for summer use only and offer a quiet lazy summertime spot at an affordable price.

Buying Lakefront Homes

When Buyer’s think of owning a year round or seasonal waterfront residence, Vermont is not often the first state they look. But those who do, soon discover what a natural wonder and under utilized resource Lake Champlain is. From the long winding channels and locks that serve as your approach from the Hudson River to the multiple "gunk hole" anchorages throughout the Lake Champlain Islands, sailing, kayaking, fishing and boating this wonderful waterway is as varied and diverse as the homes that you will find scattered along its shores. Many of these "homes" started as seasonal cottages or "camps" as they are called by the locals. The origin of the term camp most probably originated from the fact that the original use of the lakeshore lots that these structures now occupy was nothing more than a camp site with a tent platform to provide a dry level spot for your trusty war surplus canvas tent. While you won’t find any tent platforms for sale these days, the homes that are offered will run the spectrum from seasonal, un-insulated cabins with little or no luxuries to large year round luxury homes complete with all the amenities you could imagine.
Just as the structures and homes will vary - so will the quality of the lakeshore itself. Some homes, while located on lots that go right to the waters edge, will have such steep banks that there is literally no way to get from the house site to the water without negotiating the bank on your hands and knees or installing an actual staircase to the water. The depth and quality of the lake water off the shore line can also be different from one bay or beach to another. True sand beaches, as you would normally picture them, are rare and hard to find. More likely the "beach" being offered in any advertisement will be horizontal slabs of ledge or "skipping stone" quality rocks mixed with large to sand size particles. Once you have re-adjusted your definition of beach, this wildly diverse lake offers everything from shallow slow flowing marshland teaming with waterfowl to extremely well protected deep water mooring spots. All of these things are possible; you just have to know where to look.