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

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/