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PAGE  2  â&#x20AC;&#x201D;  A  Special  Publication  of  The  Addison  Independent,  Monday,  July  9,  2012

Balance (Continued  from  Page  1) own  a  home  for  a  smaller  monthly  payment   than   ever   before.   Renters   are   therefore   looking  to  buy,  and  with  them  the  interested   pool  of  buyers  has  shot  up  in  recent  months,   giving  homes  on  the  market  more  attention. This   is   clearly   good   news   for   sellers.   According   to   the   Northern   New   England   Real   Estate   Information   Network,   the   sales   of   single-­family   homes   are   up   8.75   percent   from   last   year   during   the   spring   period   (April  through  June). These  same  factors  also  make  the  current   market  rosier  for  sellers. Although   this   may   seem   like   a   drastic   change   from   the   dull   prospects   of   previous   years   in   the   real   estate   market,   the   current   buying   and   selling   climate   is  a  product  of  the  nature  of   â&#x20AC;&#x153;The market is real  estate,  experts  said.   Bonnie   Gridley,   owner   dynamic. of   RE/MAX   Champlain   Valley  Properties,  said  that   Many FRQVWDQW Ă&#x20AC;X[ LV RQH DVSHFW people the   market   that   many   donâ&#x20AC;&#x2122;t un- of   people  forget. derstand â&#x20AC;&#x153;The  market  is  dynamic.   Many   people   donâ&#x20AC;&#x2122;t   that evunderstand   that   every   ery time time   a   house   comes   onto   a house the   market   or   one   goes   comes under   contract   and   sells,   the   market   changes,â&#x20AC;?   said   onto the Gridley.   â&#x20AC;&#x153;The   availability   market of  money  and  loans  and  the   or one lending  climate  contributes   goes un- to   the   market,   as   well   as   the   local   job   market   and   der conof   the   area   ...   as   tract and economy   well  as  the  country  and  the   sells, the world.â&#x20AC;? In  light  of  these  constant   market changes,   it   is   important   changes.â&#x20AC;? for  both  buyers  and  sellers   â&#x20AC;&#x201D; Bonnie to   note   market   strategies.   Gridley, Gridley   said   that   the   best   owner of move   for   buyers   starting   RE/MAX the  process  is  to  work  with   Champlain a   lender   to   take   advantage   Valley RI WKH FXUUHQW ÂżQDQFLDO Property situation   and   understand   their  buying  potential. For   sellers,   brokers   agree   that   it   is   worthwhile   to   invest   in   minor   updates   and   time   to   clean   and   freshen   the   home   before   it  is  listed.  They  said  sellers  should  be  also   realistic   about   the   listing,   always   price   to   sell,   and   welcome   any   opportunity   to   show   the  property.   Information   like   this   can   be   crucial   in  

THE  CURRENT  COUNTY  market  is  improving  and  offering  positives  for  both  buyers  and  sellers,  according  to  local  experts.  Low  inter-­ est  rates  and  growing  demand  for  properties  are  contributing  to  favorable  conditions. Independent  photo/Andrea  Warren

avoiding   stressful   found.   It   can   be   very   â&#x20AC;&#x153;I think more and more and   exhausting   home   disappointing   for   a   buying   or   selling.   people will rely on and use EX\HU WR ÂżQG WKH ULJKW Bill   Martin   of   Green   technology in their everyday home   only   to   have   Tree   Real   Estate   real estate transactions than someone   else   get   it   attributes   buyersâ&#x20AC;&#x2122;   ever before. Our profession in because   you   were   not   and   sellersâ&#x20AC;&#x2122;   recent   Addison County needs more prepared.â&#x20AC;? success   to   increased   Martin   predicts   that   knowledge   of   the   way   young tech-savvy people to there   will   be   a   steady   real   estate   works,   plus   become involved.â&#x20AC;? increase   in   the   local   â&#x20AC;&#x201D; Century 21 Jack Associates real   estate   market,   preparation.   broker Neil Mackey with  gradual  increases   â&#x20AC;&#x153;More   than   ever   buyers   are   educated   in   value.   He   believes   about  the  home  buying   that   Vermont   and   process,â&#x20AC;?  said  Martin.  â&#x20AC;&#x153;The  vast  majority  of   Addison   County   in   particular   are   desirable   buyers  have  also  listened  to  Realtorsâ&#x20AC;&#x2122;  advice   places   to   live   and   will   work   to   boost   a   to   be   pre-­approved   with   a   lender.   Both   of   market  upturn. these   are   good   for   the   buyers   so   that   they   As   the   market   changes   over   the   months   will   be   ready   when   the   right   property   is   and   years,   so   do   the   ways   transactions   are  

handled.   Current   technologies   can   make   it   easier   for   parties   involved   to   buy   or   sell   KRPHV ZLWK HIÂżFLHQF\ &HQWXU\  -DFN Associates   broker   Neil   Mackey   said   that   the   trends   in   technology   would   continue   to   motivate  market  changes  in  the  future. â&#x20AC;&#x153;I   think   more   and   more   people   will   rely   on  and  use  technology  in  their  everyday  real   estate   transactions   than   ever   before,â&#x20AC;?   said   Mackey.  â&#x20AC;&#x153;Our  profession  in  Addison  County   needs   more   young   tech-­savvy   people   to   become  involved.â&#x20AC;? In   sum,   while   the   buying   and   selling   process  is  complex,  it  can  be  made  easier  by   knowing   the   current   real   estate   market.   At   the  moment,  there  are  advantages  for  buyers   and  sellers  alike,  and  becoming  educated  in   WKHVHLVWKHÂżUVWVWHSWRVXFFHVVIRUERWK

Prospect Appraisal, LLC Alyth Hescock, Certified General Real Estate Appraiser

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A  Special  Publication  of  The  Addison  Independent,  Monday,  July  9,  2012  —  PAGE  3

PAGE  4  â&#x20AC;&#x201D;  A  Special  Publication  of  The  Addison  Independent,  Monday,  July  9,  2012

Editorsâ&#x20AC;&#x2122;  note

Dream  house

For   all   the   prospective   home   buyers   out   there,   take   a   minute   to   look   at   these   interest  rates  â&#x20AC;&#x201D;  homebuyers  today  can  get   a  mortgage  for,  in  some  cases,  less  than  4   percent   interest.   According   to   the   Federal   Home   Loan   Mortgage   Corporationâ&#x20AC;&#x2122;s   mortgage   market   survey,   these   rates   are   some  of  the  lowest  on  record  in  the  last  two   decades.   Which   means,   for   those   whose   work   and   family   situation   is   fairly   secure   for   the   next   few   years,   it   may   be   a   good   time  to  buy  a  house.  A  conversation  with  a   ÂżQDQFLDOFRXQFLORUFDQKHOSWKRVHZKRDUH thinking  about  buying  determine  if  now  is   the  time. And  for  those  selling  a  home,  real  estate   professionals   are   telling   us   that   that   while   the   market   has   not   returned   to   the   glory   days   of   a   decade   ago,   it   is   certainly   more   active  than  it  was  two  our  three  years  ago   in  the  depths  of  the  recession.  The  National   Association   of   Realtors   recently   reported   that   the   number   of   people   who   signed   contracts  to  buy  previously  occupied  homes   rose   in   May,   matching   the   fastest   pace   in   two   years.  Another   real   estate   trade   group   currently   tracking   the   market     says   that   sales   of   single-­family   homes   in   Northern   New  England  this  past  spring  were  up  8.75   percent  from  the  same  period  last  year.   We  hope  readers  will  use  this  supplement   as   a   guide   to   get   started   with   buying   or   selling  a  house  while  interest  rates  are  low   and   the   market   continues   to   turn   around.   Talk  with  family  and  friends  who  have  been   through   the   process,   and   donâ&#x20AC;&#x2122;t   forget   that   many  real  estate  professionals  have  years  of   experience  and  resources  that  can  help  you   buy  or  sell  a  home. â&#x20AC;&#x201D;  The  editors

(Continued  from  Page  1) KDUGWRPDLQWDLQKRSHWKDWWKH\ZRXOGÂżQGVRPH-­ thing  perfect.  They  were  on  the  search  for  a  mod-­ HUQKRPHWKDWZRXOGUHĂ&#x20AC;HFWWKHLUVW\OHRIOLYLQJ Moving  into  an  old  home  did  not  seem  comfort-­ DEOHIRUWKHP$WÂżUVWJODQFHPDQ\RIWKHSURSHU-­ ties  they  looked  at  seemed  like  great  deals,  but   after  calculating  repairs  and  renovations  needed   WRPRGHUQL]HWKHPWRÂżWWKHLUOLIHVW\OHWUHQGVWKH resulting  total  cost  suddenly  fell  from  reach.   When  looking  at  houses  built  at  the  turn  of  the   last  century,  they  were  unsure  of  the  return  those   properties  would  yield.   â&#x20AC;&#x153;Say  the  house  is  listed  for  $230,000,  you  get  it   for  220  or  225.  That  may  seem  like  a  pretty  good   deal,â&#x20AC;?   Colby   Benjamin   said.   â&#x20AC;&#x153;But   then   youâ&#x20AC;&#x2122;re   looking  at  closing  costs,  a  new  roof,  a  new  foun-­ dation,  potentially  other  things  that  you  want  to   change  â&#x20AC;Ś  to  me  I  was  looking  at  those  houses   and  going  â&#x20AC;&#x2DC;Market  value  is  225,  I  have  to  sink   50,000  or  60,000  into  it  to  get  it  up  to  where  I   want   the   house   â&#x20AC;Ś   is   it   ever   going   to   be   worth   310  or  315?  Am  I  ever  going  to  make  that  money   EDFN"Âś'HÂżQLWHO\QRW´ When  they  saw  their  current  home,  Benjamin   says  he  knew  right  away.   Âł,W ZDV WKH ÂżUVW OD\RXW WKDW ZH FRXOG SLFWXUH ourselves   living   in,   and   it   was   a   price   that   we   could  afford,â&#x20AC;?  he  said. They  moved  quickly  to  put  in  a  bid,  and  got   it.  With  an  offer  in  only  a  couple  of  days  after  of   seeing  it,  they  had  a  contract  the  next  week,  and   closed  on  the  property  six  weeks  later.   Looking  back  at  the  process,  Benjamin  recalls   WKH GLIÂżFXOW WLPHV EXW DOVR UHFRJQL]HV WKH KHOS that  friends  and  family  provided  along  the  way.   As  a  son  of  a  general  contractor,  and  with  more   WKDQÂżYH\HDUVRIFDUSHQWU\H[SHULHQFHKLPVHOI Benjamin  had  many  guides  as  a  home  buyer.  The  

THIS   HALLADAY   ROAD   home   proved   to   be   just   right   for   homebuyers   Monica   and   Colby   Benjamin,   who   found   it   after   over   a   year  of  searching  in  Addison  County. Independent  photos/Christy  Lynn

most  helpful  advice  he  was  given,  he  said,  was  to   â&#x20AC;&#x153;make  sure  we  were  buying  a  house  because  we   actually  wanted  to  live  here,  and  not  just  buying   a  house  because  we  wanted  a  house.â&#x20AC;?   It  sounds  simple,  but  Benjamin  says  that  once   they  were  able  to  answer  â&#x20AC;&#x153;yesâ&#x20AC;?  to  that  question,   they  were  able  to  get  serious  about  buying.   Benjamin  also  recalls  their  decision  to  buy  a   (See  Benjamins,  Page  12)

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KEEP IT LOCAL

A  Special  Publication  of  The  Addison  Independent,  Monday,  July  9,  2012  â&#x20AC;&#x201D;  PAGE  5

Vermont (Continued  from  Page  1) percent  increase  from  last  year.  The  median  sale   last   year.   More   homes   have   been   introduced   price  of  homes  in  the  area  is  $185,900,  which  is   to   the   market   in   recent   months,   generating   a  13.5  percent  decrease  from  last  year.  Despite   the  fall  in  home  prices  so  far,  experts  do  expect   greater  activity. Broker   Neil   Mackey   of   Century   21   Jack   them   to   rise   this   year   due   to   the   low   interest   Associates   said   that   one   consequence   of   this   rates  and  growing  demand.   In   spite   of   some   negative   trends   in   the   increase   in   options   is   that   local   buyers   have   regional   and   national   markets,   higher  expectations. 9HUPRQW KDV FRQWLQXHG WR EHQHÂżW â&#x20AC;&#x153;The  buyers  have  more  inventory   â&#x20AC;&#x153;I expect from   the   recently   lower   costs   of   to   choose   from,â&#x20AC;?   said   Mackey.   â&#x20AC;&#x153;I   recently   had   buyers   that   looked   the market mortgage   funds.   In   April,   Federal   Reserve   policy   makers   said   they   at   18   different   properties   before   may slow to   keep   interest   rates   low   making   an   offer   that   went   under   in the next intended   for  the  foreseeable  future.   contract.â&#x20AC;? Due   to   factors   like   mortgage   Mackey   said   challenges   could   few years DULVHIURPWKHFRQĂ&#x20AC;LFWLQJQHHGVDQG as interest rates   and   the   general   economy,   the   Addison   County   market   has   seen   a   wants  of  buyers  and  sellers.  He  said   while   sellers   usually   expect   to   get   rates start sudden   spike   in   activity.   However,   not   all   experts   predict   it   will   grow.   more   than   their   property   is   worth,   to climb Geri   Reilly   Real   Estate   agent   Jill   buyers  are  looking  for  bargain  prices.   back up.â&#x20AC;? Fraga   interprets   this   spring   as   Bringing   these   two   sides   together   â&#x20AC;&#x201D; Geri Reilly â&#x20AC;&#x153;stableâ&#x20AC;?   and   believes   that   the   local   determines  the  fair  market  value  and   Real Estate area  market  is  not  necessarily  on  the   â&#x20AC;&#x201D;  if  it  happens  at  the  current  rate  â&#x20AC;&#x201D;   agent Jill Fraga rise  because  rates  may  not  stay  low   boosts  creates  a  more  active  market. forever  as  demand  rises.   Higher   selling   activity   can   â&#x20AC;&#x153;I   expect   the   market   may   slow   in   the   next   be   partially   attributed   to   Vermontâ&#x20AC;&#x2122;s   low   unemployment   rate.   Vermont   boasts   the   few   years   as   interest   rates   start   to   climb   back   lowest   jobless   rate   among   New   Englandâ&#x20AC;&#x2122;s   six   up,â&#x20AC;?  said  Fraga. While   Fraga   has   a   slightly   less   optimistic   states,   and  Addison   Countyâ&#x20AC;&#x2122;s   relatively   stable   economic   situation   has   boosted   real   estate   outlook,   she   also   says   that   area   trends   have   demand,  according  to  the  experts  and  the  stats.   been   positively   focused   around   sustainable   Addison   Countyâ&#x20AC;&#x2122;s   pending   listings   have   risen   living.  More  and  more  attention  has  been  paid   by  29  percent  this  year,  and  homes  have  spent   to  sustainable  aspects  in  homes  and  has  become   an  average  of  64  days  on  the  market,  a  dramatic   a  popular  point  of  interest  for  buyers  in  the  area,   something  that  may  offer  another  positive  view   decrease  from  last  yearâ&#x20AC;&#x2122;s  average  of  211  days. According   to   Coldwell   Banker   Hickok   and   of  the  current  state  of  our  state. â&#x20AC;&#x153;Buyers  seem  to  be  paying  more  attention  to   Boardmanâ&#x20AC;&#x2122;s   Northwest   Vermont   early   spring   2012  market  report,  Addison  County  recorded   HQHUJ\HIÂżFLHQF\ZKHWKHULWEHLQWKHIRUPRI 65  residential  sales  from  January  to  April,  a  14   size,  age  or  systems  of  the  home,â&#x20AC;?  said  Fraga.  

Straightforward Advice from Real Estate Professionals  

Choose  the  Right  REALTORŽ A  Realtor  with  experience  and  knowledge  will  be  able  to  provide  you   with  the  guidance  you  need  to  make  informed  decisions.  Make  sure   you  choose  wisely.

Location

   

Prioritizing  Your  Needs  List

The  Right  Questions  to  Ask  A  REALTORŽ

 When  people  decide  to  start  looking  for  that  perfect  home,  most  have   a  vague  idea  of  what  they  want.    While  itâ&#x20AC;&#x2122;s  helpful  to  not  have  things   set  in  stone,  it  will  be  a  plus  for  you  and  your  Realtor  to  make  a  list  of   what  features  you  have  to  have  in  your  next  home.

How long have you been in the business? Experience  is  key  when  hiring  a  Realtor,  especially  when  it  comes  to   guidance  during  negotiations.  When  selling  a  home,  A  Realtorâ&#x20AC;&#x2122;s  con-­ tacts  are  invaluable  and  can  reduce  the  time  your  home  is  on  the  mar-­ ket.  When  buying  a  home,  A  Realtorâ&#x20AC;&#x2122;s  knowledge  of  the  marketplace   can  save  you  time  and  help  you  avoid  looking  at  homes  that  donâ&#x20AC;&#x2122;t  meet   your  needs.   Whatâ&#x20AC;&#x2122;s your best strategy to help me achieve my goals? If  youâ&#x20AC;&#x2122;re  selling:  How  will  you  sell  my  home?  What  tools  will  you  use  to   approach  the  sale  of  my  home?  Will  you  focus  on  one  form  of  market-­ ing,  or  is  your  approach  to  marketing  multi-­faceted?   If   youâ&#x20AC;&#x2122;re   buying:   How   will   you   help   me   during   the   Purchase   pro-­ cess?  What  services  can  I  expect?

Location,  location,  location!  How  many  times  have  you  heard  this?  It   still  holds  true,  and  always  will.  You  can  re-­model,  re-­design  and  land-­ scape  but  you  canâ&#x20AC;&#x2122;t  change  the  location.  Where  you  buy  the  home  is   just  as  important  as  the  home,  if  youâ&#x20AC;&#x2122;ve  got  appreciation  of  value  in   mind.

Is  the  kitchen  the  center  of  your  universe  at  home?    If  it  is,  a  great  kitch-­ HQZLWKDOOWKHHIÂżFLHQFLHVDSSOLDQFHVDQGFRQYHQLHQFHVLVDPXVW'R you  spend  a  lot  of  time  outside?  Youâ&#x20AC;&#x2122;ll  want  to  have  some  outdoor  living   space  such  as  a  deck  or  patio.  Love  to  work  out?  Youâ&#x20AC;&#x2122;ll  need  space  for   your  exercise  equipment.

Home  Inspections

Once  you  know  what  you  can  and  canâ&#x20AC;&#x2122;t  live  without,  prioritize.  What  if   the  house  doesnâ&#x20AC;&#x2122;t  have  the  perfect  indoor  gym  space?  Is  there  room   to  create  it  or  is  this  a  compromise  youâ&#x20AC;&#x2122;re  not  willing  to  make?  Once   you  have  the  list,  communicate  with  your  Realtor.  They  can  make  your   wants  and  needs  a  reality  with  a  little  help  from  you!      

A  home  inspection  is  a  sound  investment  â&#x20AC;&#x201D;  it  could  save  you  thou-­ sands  of  dollars!  A  professional  home  inspector  will  examine  structural,   mechanical,  electrical,  plumbing  and  heating  as  well  as  other  systems,   and  can  help  you  make  informed  decisions.

Your  Lender  and  Your  Loan

Choose  your  lender  wisely  and  make  sure  the  loan  program  is  appro-­ SULDWHIRU\RX$JRRGOHQGHUZLOOWDNHWKHWLPHWR¿QGWKHORDQWKDWœV best  for  you.

Buy  a  Home  You  Can  Afford

Use  a  lenderâ&#x20AC;&#x2122;s  guidelines  and  your  family  budget  to  decide  how  much   house  you  can  afford.  You  want  to  get  the  most  house  for  your  money   without  over  extending  yourself.

Buy  a  Home  You  Like

Buying  a  home  can  be  an  emotional  decision  for  you  and  your  fam-­ ily.  Think  it  through  and  weigh  the  pros  and  cons.    Itâ&#x20AC;&#x2122;s  OK  to  garner   input  from  family  and  friends,  just  remember  that  youâ&#x20AC;&#x2122;re  the  one  that   KDVWKHÂżQDOZRUGEHFDXVHRQO\\RXNQRZZKDWÂśVEHVWIRU\RX  

Do you have references, and would you be willing to let me con-­ tact your former clients?    Ask   former   clients/customers   what   their   experience   with   the   Realtor   was   like,   how   they   handled   details   and   how  their  team  worked  together. What havenâ&#x20AC;&#x2122;t I asked you that I need to know? There  will  always  be  questions.  How  a  Realtor  answers  them  can  tell   you  a  lot  about  their  knowledge  and  how  you  will  interact.  You  want  a   Realtor  who  hears  you,  addresses  your  concerns  and  deals  head-­on   with  any  questions  you  may  have.

Ingrid Punderson Jackson Real Estate 44 Main Street Middlebury, VT 05753 802-388-4242

www.middvermontrealestate.com

PAGE  6  â&#x20AC;&#x201D;  A  Special  Publication  of  The  Addison  Independent,  Monday,  July  9,  2012

Low  rates,  programs  seen   helping  many  homebuyers By  LAUREN  DAVIDSON 0,''/(%85<²$VUHFHQWIDFWVDQG¿J-­ ures  demonstrate,  individuals  in  the  home-­ EX\LQJPDUNHWPD\EHLQOXFN6RIDU has   proved   to   be   beneficial   to   Addison   &RXQW\KRPHEX\HUV The  Addison  Independent  recently  VSRNH ZLWK 6DUDK$ 3 &RZDQ VHQLRU vice  president  and  loan  de-­ SDUWPHQW PDQDJHU RI WKH 1DWLRQDO %DQN RI 0LGGOHEXU\ WR JHW KHUWKRXJKWVDERXW the   current   area   real   estate   mar-­ NHW 7KH VKRUW question   and   answer   outlines   WKH EDQNLQJ SHU-­ spective   on   home   EX\LQJ LQ $GGLVRQ &RXQW\ Q:   What   have   you   no-­ ticed  about  the  real  estate  mar-­ NHWLQ$GGLVRQ&RXQW\" $ -XVW GULYLQJ LQ WKH DUHD \RX FDQ VHH WKHUHDUHDORWRI³)RU6DOH´VLJQV7KHUHDUH FXUUHQWO\  SHQGLQJ FRQWUDFWV RQ KRPHV ZKLFKLVDVLJQRIDQLQFUHDVHLQPDUNHWGH-­ PDQG7KLVLVYHU\JRRGQHZVDQGUHIOHFWV DSRVLWLYHFKDQJHLQWKHHFRQRP\ Q:   A   tax   credit   was   available   for   first-­ WLPHKRPHEX\HUVLQSUHYLRXV\HDUV:KDW LIDQ\H[LVWLQJWD[FUHGLWVDUHLQSODFHWKDW PDNHQRZDJRRGWLPHWREX\" A:   I   am   not   aware   of   any   current   tax   EUHDNV IRU SHRSOH ORRNLQJ WR EX\ KRPHV

+RZHYHU WKHUH DUH VSHFLDO SURJUDPV WKDW have  been  around  for  a  while  available  for   ILUVWWLPHEX\HUV 1RWH 0DQ\ EDQNV RIIHU ILUVWWLPH KRPHRZQHU JUDQW SURJUDPV $W WKH 1D-­ WLRQDO%DQNRI0LGGOHEXU\JUDQWVRIXSWR DUHDYDLODEOHWREHXVHGIRUDGRZQ SD\PHQWDQGHOLJLEOHFORVLQJFRVWV

Q:  In  the  past  months,  what   is   there   new   and   different   LQ UHDO HVWDWH ILQDQFLQJ DW WKH 1DWLRQDO %DQN RI0LGGOHEXU\" A:  There  has  been   D ODUJH LQFUHDVH LQ purchase   and   re-­ ILQDQFLQJ WUDQVDF-­ tions   and   extremely   KLJK YROXPH RI FRQ-­ VWUXFWLRQ ILQDQFLQJ 7KLVLVDYHU\JRRGVLJQ DOWKRXJK , PXVW VD\ WKDW this  observation  is  relative  to   WKHSDVWIHZ\HDUV,QWKHSDVWWKH DPRXQWRIWUDQVDFWLRQVKDVEHHQKLJKHUEXW ULJKWQRZZHDUHLQFUHGLEO\EXV\ 4+RZLVWKLVDJRRGVLJQWKDWWKHPDU-­ NHWKDVWDNHQDQXSZDUGWXUQ" $7KHVHDUHDOOVLJQVWKDWWKHFRQGLWLRQ RI WKH UHDO HVWDWH PDUNHW LV JHWWLQJ EHWWHU 3HRSOH DUH QRZ DEOH WR VHOO KRPHV PRUH TXLFNO\EHFDXVHSHRSOHDUHQRZDEOHWRDI-­ IRUGEX\LQJDQHZKRPH7KLVLVSDUWO\GXH WRPRUWJDJHUDWHVEHLQJDWDQDOOWLPHORZ 7KH\ KDYHQ¶W EHHQ WKLV ORZ VLQFH  7KLV LV UHDOO\ KHOSLQJ WR UHVWRUH SHRSOH¶V FRQILGHQFHLQRXUHFRQRP\

Q & A

THE  BENJAMINS  ENJOY  the  kitchen  in  their  new  home.  The  open  layout  and  mod-­ ern  design  of  this  10-­year-­old  home  was  one  of  many  selling  features  for  this  young   couple. Independent  photo/Christy  Lynn  

Delightful Country Home

c. 1830 Stone Manor

The Blake House between Rutland and Middlebury. Myriad architectural details of historical significance, but also new custom kitchen, updated bathrooms, and new furnace. 6 picturesque acres. It is gracious, spacious, altogether gorgeous and offered at the reasonable price of $565,000. Call Betty Ann Martin 802-747-7100 877-208-0222 toll free

Green Mountain Realty

A  Special  Publication  of  The  Addison  Independent,  Monday,  July  9,  2012  —  PAGE  7

PAGE  10  â&#x20AC;&#x201D;  A  Special  Publication  of  The  Addison  Independent,  Monday,  July  9,  2012

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ZHHNORZ    

Decorative Concrete Turn your drab concrete into something Beautiful

Rainbow Acres Landscaping 802-373-5759 / 802-759-2225

Landscaping Lawn Mowing Lighting Stone Work Paver Cleaning & Sealing and More!!!

www.rainbowacreslandscape.com

A  Special  Publication  of  The  Addison  Independent,  Monday,  July  9,  2012  â&#x20AC;&#x201D;  PAGE  11

Champlain  Valley  Properties 101  Court  Street,  Middlebury  VT www.midvthomes.com Outstanding  Agents Outstanding  ResultsŽ

R P ed ric uc e   ed !

Ferrisburgh  â&#x20AC;&#x201C;  Cozy  3  Br  2  bath   country   Cape   on   a   very   nicely   landscaped  .5  acre  lot  with  a  2  car+   detached   garage   and   large   west   facing  deck.  Conveniently  located   QHDU5WIRUDQHDV\FRPPXWH1 RU6)DPLO\URRP EDURQORZHU level   is   perfect   for   entertaining.   &DOO%RQQLH*ULGOH\ or   e-­mail   bonnie@midvthomes. com                                                          

Panton  â&#x20AC;&#x201C;  Beautifully  maintained   %5 %$ KRPH RQ  DFUHV Extras   include   a   horse   barn,   single   detached   garage,   large   attached   garage,   gorgeous   sun-­ URRP H[SDQVLYH ORZHU OHYHO )5 ZÂżUHSODFH  VR PXFK PRUH Convenient   to   Vergennes.   Call   %RQQLH *ULGOH\  or   e-­mail   bonnie@midvthomes. com  $265,000

Middlebury   â&#x20AC;&#x201C; 6SDFLRXV  %5 2-­1/2   bath   home   w/lots   of   space   on  a  2  acre  lot  w/beautiful  maple   WUHHV ODUJHODZQ.LWFKHQRSHQV to   a   large   DR,   spacious   family   URRP/5Z)3RIÂżFHPXGURRP dry  basement  plus  storage  above   the    2    car    garage.      Call      Nancy )RVWHURUHPDLO n a n c y @ m i d v t h o m e s . c o m     

Brandon  Village  â&#x20AC;&#x201C;  Enjoy  all  that   village   living   has   to   offer.   Walk   to   stores,   restaurants,   library,   EDQN  PRUH IURP WKLV EHDXWL-­ IXO EULFN  %5  EDWK KRPH $ ODUJH OLYLQJ URRP ZÂżUHSODFH formal  DR,  many  built-­ins,  great   ZRRGZRUNÂżQLVKHGUGĂ&#x20AC;RRUDQG a   detached   barn/garage.   Contact   %RQQLH*ULGOH\RU bonnie@midvthomes.com       

New   Haven   Horse   Farm   â&#x20AC;&#x201C;   %HHFK +LOO )DUP LV RQ  acres  of  pastures/conserved  crop-­ land   with   a   22   stall   main   barn,    VWDOO DFFHVVRU\ EDUQ LQGRRU ULGLQJ DUHQD KHDWHG HTXLSPHQW EDUQ RIÂżFH  VSHFWDFXODU $G-­ LURQGDFN YLHZV 7KH IDUPKRXVH KDV  %5ÂśV  %$ÂśV &DOO %RQ-­ QLH *ULGOH\  RU email   bonnie@midvthomes.com     

Middlebury   â&#x20AC;&#x201C;  A   charming   3BR   1  bath  Cape  conveniently  located   RQ D QLFH $ ORW WR DOORZ IRU a  variety  of  uses;Íž  small  business,   RIÂżFH RU UHVLGHQFH :RQGHUIXO IHDWXUHV LQFOXGH ZRRG Ă&#x20AC;RRUV ORWVRIEXLOWLQVDÂżUHSODFHDQGD large,  private  yard  w/space  to  gar-­ GHQ&DOO1DQF\)RVWHU RUQDQF\#PLGYWKRPHVFRP $165,000

Middlebury   â&#x20AC;&#x201C;   Charming   3   BR,    ò EDWK KRPH RQ D ODUJH  DFUH ORW 0DQ\ WHUULÂżF IHDWXUHV include  an  oversized  2  car  garage   w/room  for  a  workshop,  spacious   family   room   w/woodstove,   PRXQWDLQ YLHZV  HYHQ FHQWUDO $& &RQWDFW 1DQF\ )RVWHU DW  RU QDQF\# midvthomes.com.    

Bristol  Village  â&#x20AC;&#x201C;2QHRI%ULVWROÂśV ÂżQHVWKRPHVLVRQDODUJHDFUH ORW LQ D FRQYHQLHQW  KLJKO\ desirable   location   in   the   heart   of   the   village.   Spacious   sunny   URRPV  ÂżUHSODFHV  %5ÂśV   baths   grace   this   historic   center   hall   colonial.   Contact   Bonnie   *ULGOH\ DW  RU e-­mail   bonnie@midvthomes.com     

Middlebury   â&#x20AC;&#x201C;   Spacious   well   maintained   3   BR,   2   bath   home   on  a  lovely  landscaped  1  acre  lot.     &XVWRPFUDIWHGNLWFKHQZTXDUW] FRXQWHUV QHZ URRI LQ  ODUJH IDPLO\ URRP  RYHUVL]HG 2   car   garage   w/workshop   VSDFH  &RQWDFW 1DQF\ )RVWHU DW  RU QDQF\# midvthomes.com    $250,000

R P ed ric uc e   ed !

East  Middlebury  â&#x20AC;&#x201C;    Immaculately   maintained  3  BR  2  bath  home  on   DODUJHEHDXWLIXOO\ODQGVFDSHG acre   lot.   3   car   garage/workshop,   ÂżOWHUHG ZDWHU V\VWHP JHQHUDWRU  SRWHQWLDO IRU PRUH %5ÂśV  D EDWK LQ WKH XQÂżQLVKHG XSVWDLUV &DOO 'LDQD %HUWKLDXPH DW   RU HPDLO GLDQD# midvthomes.com    

R P ed ric uc e   ed !

Bristol  â&#x20AC;&#x201C;  Vermont  farmhouse  w/   FXVWRP UHQRYDWLRQV DQG  %5ÂśV   EDWKV 3ULYDWHO\ ORFDWHG by   the   New   Haven   River   yet   a   short   distance   from   the   charm-­ ing   village   center   with   its   many   VWRUHV  VRFLDO DFWLYLWLHV 2SHQ /5'5 ZYDXOWHG FHLOLQJV +: Ă&#x20AC;RRUV DQG TXDOLW\ GHWDLOV throughout.  Call  Bonnie  Gridley   RUHPDLOERQQLH# midvthomes.com    

R P ed ric uc e   ed !

Salisbury   â&#x20AC;&#x201C;   Beautifully   con-­ structed  5  star  energy  rated  home   RQ  DFUHV  ZSULYDF\  YLHZV RIWKH$GLURQGDFN /DNH&KDP-­ SODLQ0DQ\TXDOLW\IHDWXUHVOLNH KDUGZRRGĂ&#x20AC;RRUVVWRQHÂżUHSODFH Âś FHLOLQJV ORYHO\ PROGLQJV ZDONRXW EDVHPHQW  KLJK HI-­ ÂżFLHQF\ KHDWLQJ V\VWHP &DOO 1DQF\ )RVWHU  RU e-­mail    nancy@midvthomes.com   $565,000    

R P ed ric uc e   ed !

Middlebury  â&#x20AC;&#x201C;  Charming  one  BR   home  perfect  for  the  person  who   is  feeling  like  he/she  has  paid  rent   ORQJ HQRXJK 0DQ\ XSJUDGHV include   a   custom   kitchen,   new   windows  and  vinyl  siding.  There   are  2  spacious  sheds  for  storage.   :DON WR HYHU\WKLQJ GRZQWRZQ &DOO1DQF\)RVWHU or   e-­mail   nancy@midvthomes. com  

R P ed ric uc e   ed !

R P ed ric uc e   ed !

R P ed ric uc e   ed !

R P ed ric uc e   ed !

Middlebury  â&#x20AC;&#x201C;  3  BR  2  bath  home   w/the  charm  of  old  beams,  wide   SODQNĂ&#x20AC;RRUV)3ÂśV VODWHURRI yet  the  comfort  of  a  15  year  old   meticulously   built   house.   2   liv-­ ing   spaces   w/cathedral   ceilings,   SULYDWH SRUFK EHDXWLIXO \DUG  short   walk   to   downtown.   Call   1DQF\ )RVWHU DW  or   nancy@midvthomes.com     

R P ed ric uc e   ed !

Â&#x2021;

LAKE  FRONT  Orwell    â&#x20AC;&#x201C;  Tradi-­ tional  NE  fully  dormered  cape  w/ screened   porch   with   panoramic   YLHZV RI /DNH &KDPSODLQ 7KLV 3BR,   2   bath   home   on   1.5   acres   LV RSHQ VSDFLRXV  VXQ ÂżOOHG 0RGHUQ  ZHYHU\WKLQJ XS WR GDWH )XOO ZDONRXW XQÂżQLVKHG basement   awaits   your   custom   WRXFKHV&RQWDFW%RQQLH*ULGOH\ DWRUHPDLO b o n n i e @ m i d v t h o m e s . c o m     

PAGE  12  â&#x20AC;&#x201D;  A  Special  Publication  of  The  Addison  Independent,  Monday,  July  9,  2012

Benjamins (Continued  from  Page  4) home  that  was  move-­in-­ready,  rather  than  to  buy   a  home  that  needed  more  serious  work.   Âł,I\RXÂśUHJRLQJWREX\DÂż[HUXSSHUEHSUH-­ SDUHGWRVSHQGDORWRIPRQH\DQGVSHQGDORWRI time,â&#x20AC;?  he  said.   $VDOZD\VLWÂśVRQHWKLQJLI\RXKDYHWKHUH-­ VRXUFHVIRUWKHMREEXWLWÂśVQRWDOZD\VJRLQJWR VDYH\RXWKHPRQH\\RXWKLQNLWZLOO%HQMDPLQ said.   Âł$QGVRPHWLPHVLWFDQJHW\RXLQDORWRIWURX-­ EOHZKHQ\RXÂśUHH[SHFWLQJLWWREHDTXLFNSURM-­ ect,  and  it  turns  out  to  be  a  nightmare,â&#x20AC;?  he  added. 7KH%HQMDPLQVZHUHFDUHIXOWRPDNHVXUHWKDW WKH\ZHUHEX\LQJDKRPHWKDWWKH\FRXOGDIIRUG DQGWKDWZDVQRWJRLQJWRULVNSXWWLQJWKHPLQWR XQPDQDJHDEOHGHEWRUKDUGVKLS Âł<RXFDQÂśWMXVWORRNDWZKDW\RXUPRUWJDJHLV´ %HQMDPLQVDLGÂł<RXÂśYHJRWWRORRNDWHYHU\WKLQJ that   goes   into   owning   a   house   and   make   sure   WKDW\RXKDYHHQRXJKPRQH\WRSXWDZD\VRWKDW when   your   furnace   breaks   down,   or   something   KDSSHQV\RXFDQFRYHULW%HFDXVH\RXGRQÂśWDO-­ ways  know.â&#x20AC;?   )RUJHWWLQJ WR FDOFXODWH FORVLQJ FRVWV LQVSHF-­ WLRQUHSDLUVDQGPRYLQJH[SHQVHVFRXOGFRVWD KRPHEX\HUDORWRIXQH[SHFWHGPRQH\WKDWPD\ have  to  go  onto  a  credit  card  with  a  high  interest   UDWHLI\RXÂśUHQRWFDUHIXO Âł,WÂśVZRUWKGRLQJWKHUHVHDUFKWDONLQJWR\RXU 5HDOWRUDQGUHDOO\ÂżJXULQJLWDOOLQ´%HQMDPLQ VDLG Âł.QRZ ZKDW \RXÂśUH JHWWLQJ LQWR DQG SODQ for  it.â&#x20AC;? In   the   end,   it   seems   to   have   been   worth   the   ZDLWIRU&ROE\DQG0RQLFD%HQMDPLQ Âł,W ZDV D SDLQVWDNLQJ SURFHVV´ &ROE\ %HQMD-­ PLQVDLGUHFDOOLQJWKHORQJDQGDWWLPHVGLVFRXU-­ aging   search,   â&#x20AC;&#x153;but   it   was   fun,   too.  And   now   it   IHHOVJUHDWWRJRKRPHDQGUHDOO\HQMR\LW´

THE  BENJAMINSâ&#x20AC;&#x2122;  NEW  pool  offers  a  great  summer  refuge  as  the  weather  stays  warm  in  Addison  County.   Independent  photo/Christy  Lynn

Check  Out  This   Bristol  Gem! Vintage Village Greek Revival. 3  bedroom,  high  ceilings,   ZRRGĂ&#x20AC;RRUVVSDFLRXVURRPV:DONLQJGLVWDQFHWRVKRSV restaurants  &  schools.  Great  backyard,  plenty  of  off-­street   parking.   Currently   used   as   a   2-­family   w/   upstairs   apt.   rental.  MLS#4150962 $204,999

VINYL SIDING & ROOFING

Lake  Dunmore  â&#x20AC;&#x201C; Camp  Winona Camp Winona,  one  of  the  original  cottages  of  the  famous   Lake  Dunmore  Hotel.  Renovated  with  an  upstairs  kitchen   and  living  area.  Direct  river  frontage,  deeded  land,  lake   frontage   directly   across   the   road.   Lake   and   mountain   views   from   upper   deck   and   screened-­in   lower   porch.   Some  furnishings  included.  Currently  being  used  as  a  2   family  cottage.  MLS  #4156428,  New  price $329,500

Susan Gulrajani,  Realtor 802.989.9717 SusanG@HickokandBoardman.com

MyHomeinVermont.com

Al LeMay :LQGRZVÂ&#x2021;'RRUVÂ&#x2021;3DLQWLQJ 5HSDLUV 3UHVVXUH:DVKLQJ ALSO TREE WORK +DYHEXFNHWZLOOWUDYHO ,QVXUHG 1R-RE7RR6PDOO

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A  Special  Publication  of  The  Addison  Independent,  Monday,  July  9,  2012  —  PAGE  13

Vermont: Greater  Burlington,   St.  Albans,  Middlebury,   Vergennes,  Fairlee,   Londonderry,  Lyndonville,   Manchester,  Norwich,   Rutland,  Woodstock

New Hampshire: Hanover,  West  Lebanon,   Grantham

PANTON 2  br,  2  bath  home   on  .85±  acres $529,000  MLS  4144775

CR EE K OT TE R

PR IC E

FERRISBURGH 3  br,  1  bath  home on  .10±  acres $525,000  MLS  4158512

VERGENNES 6  br,  3  bath  home   on  4.129±  acres   $379,000  MLS  3071034

FERRISBURGH 3  br,  3  bath  home   on  2.1±  acres   $349,000  MLS  4152760

NEW HAVEN 3  br,  2  bath  home   on  1.1±  acres   $335,000  MLS  4155672

VERGENNES 5  br,  4  bath  home   on  .45±  acres   $329,000  MLS  4051260

FERRISBURGH 2  br,  2  bath  home  on  .5±  acres $212,000  MLS  4153229

BRISTOL 3  br,  2  bath  home on  .92±  acres $189,950  MLS  4070538

ADDISON  3  br,  2  bath  home on  10.09±  acres $187,500  MLS  4109391

TW O

BR AN D

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FERRISBURGH 4  br,  3  bath  home on  20.13±  acres   $749,000  MLS  4138598

NE W

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Opening New Doors Every Day™

ADDISON 3  br,  2  bath  home   on  5.01±  acres $254,900  MLS  4163897

VERGENNES 5  br,  3  bath  home   on  .18±  acres $242,000  MLS  4113935

ADDISON 4  br,  3  bath  home on  5.07±  acres $229,000 MLS  4081282

ADDISON 3  br,  2  bath  home on  1±  acres   $185,000  MLS  4084225

VERGENNES 3  br,  2  bath  home   on  1.14±  acres $184,900  MLS  4151138

ADDISON 3  br,  2  bath  home   on  10.10±  acres $177,800  MLS  4140565

ADDISON 6  br,  5  bath  home   on  71.79±  acres $895,000  MLS  4143347

BRIDPORT 3  br,  3  bath on  11.46±  acres $692,500  MLS  4164501

ADDISON 3  br,  3  bath  home   on  12.3±  acres $595,000  MLS  4154979

CORNWALL 4  br,  4  bath  home   on  12.6±  acres $529,000  MLS  4124501

MIDDLEBURY 4  br,  3  bath  home on  .3±  acres   $409,000  MLS  4144782

NEW HAVEN 4  br,  4  bath  home   on  15.45±  acres $398,000  MLS  4081508

BRIDPORT 4  br,  3  bath  home on  20.21±  acres   $398,000  MLS  4139510

NEW HAVEN 6  br,  3  bath  home on  3.45±  acres   $395,000  MLS  4141197

WEYBRIDGE 2  br,  2  bath  home   on  13.68±  acres $395,000  MLS  4018459

MIDDLEBURY 4  br,  2  bath  home on  .21±  acres   $379,900  MLS  4146168

WALTHAM 4  br,  3  bath  home   on  7.84±  acres $379,000  MLS  4164205

MIDDLEBURY 3  br,  2  bath  home   on  2.52±  acres $329,000  MLS  4126217

CORNWALL 4  br,  2  bath on  23.10±  acres $324,900  MLS  4116292

MIDDLEBURY 4  br,  3  bath  home   on  .86±  acres $292,000  MLS  4163316

SHOREHAM 3  br,  2  bath  home   on  .61±  acres $267,500  MLS  4123916

VERGENNES 4  br,  2  bath  home on  .4±  acres   $249,000  MLS  4160503

LA KE

VI EW S

LA KE

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FR ON T

FR ON T

VERGENNES 3  br,  2  bath    home   on  .3±  acres $279,000  MLS  4062117

LEICESTER +LJKWUDI¿FDQGYLVLELOLW\ convenience  store $320,000  MLS  4135845

VERGENNES Commercial/Residential on  Main  Street $199,000  MLS  4035962

NEW HAVEN 14  guest  room  motel   near  Middlebury $649,000  MLS  4128837

FERRISBURGH Light  manufacturing/retail   space  on  Route  7 $448,346  MLS  4151761

BRISTOL +LJKWUDI¿FGRZQWRZQ UHWDLORURI¿FHVSDFH $299,900  MLS  4093611

BRIDPORT 2  br,  2  bath  home   on  11.44±  acres $245,000  MLS  4098134

VERGENNES Turn-­key  ice  cream   shop  with  rental  space $449,000  MLS  4028157

BRISTOL 4  br,  3  bath  home   on  .75±  acres $236,900  MLS  4084345

COMMERCIAL PROPERTIES

Lang McLaughry Spera Middlebury Connie  Houston Manager  Broker

January  Stearns REALTOR®/Broker

Courtney  Houston REALTOR®/Broker

0LGGOHEXU\2IÀFH

9HUJHQQHV2IÀFH

66  Court  Street

268  Main  Street Vergennes,  Vermont  05491 802-­877-­3232 800-­577-­3232 802-­877-­2227  (fax)

Middlebury,  Vermont  05753 802-­388-­1000 800-­856-­7585 802-­388-­7115  (fax) Richard  Esty REALTOR®

Karen  Merrill REALTOR®2I¿FH

John  Nelson REALTOR®

Christine  Fraioli REALTOR®

Nancy  Larrow REALTOR®

Donna  LaBerge Nancy  Ryan REALTOR®/Broker REALTOR®/Broker

Liz  Marino REALTOR®

Karla  Huinzenga REALTOR®

PAGE  14  â&#x20AC;&#x201D;  A  Special  Publication  of  The  Addison  Independent,  Monday,  July  9,  2012

National  market  picks  up $3  ² $PHULFDQV DUH ¿QDOO\ JDLQLQJ IURP$SULO WR D VHDVRQDOO\ DGMXVWHG DQQXDO FRQ¿GHQFHLQWKHKRXVLQJPDUNHW¿YH\HDUV UDWHRIKRPHV(YHQZLWKWKHJDLQV DIWHULWFROODSVHG WKH DQQXDO VDOHV SDFH LV OHVV WKDQ KDOI WKH 6DOHV RI QHZ DQG SUHYLRXVO\ RFFXSLHG WKDWZRXOGEHFRQVLGHUHGQRUPDO KRPHVDUHXSIURPWKHVDPHWLPHODVW\HDU Â&#x2021; +RPHSULFHV+RPHSULFHVURVHLQ$SULO +RPH SULFHV DUH ULVLQJ LQ PRVW PDUNHWV IURP 0DUFK LQ  RI WKH  FLWLHV WUDFNHG $QG KRPHEXLOGHUV DUH VWDUWLQJ E\WKH6WDQGDUG 3RRU¶V&DVH PRUHSURMHFWV 6KLOOHUKRPHSULFHLQGH[7KDW¶V Americans 7KHPDUNHWVWLOOKDVDORQJZD\ bought new WKHVHFRQGVWUDLJKWPRQWKSULFHV WRUHJDLQIXOOKHDOWK%XWWKHGDWD KDYHULVHQLQDPDMRULW\RI86 VXJJHVW WKH ZRUVW LV RYHU DQG D homes in May FLWLHV$QGDPHDVXUHRIQDWLRQDO at the fastest SULFHV URVH  SHUFHQW LQ$SULO PRGHVWUHFRYHU\LVXQGHUZD\ +HUH¶VDORRNDWUHFHQWKRXVLQJ pace since IURP0DUFKWKH¿UVWLQFUHDVHLQ LQGLFDWRUV VHYHQPRQWKV%DVHGRQWKH April 2010, Â&#x2021; 3HQGLQJ KRPH VDOHV 7KH according to FLW\LQGH[SULFHVDUHQRZDERXW QXPEHU RI SHRSOH ZKR VLJQHG the Commerce ZKHUHWKH\ZHUHLQHDUO\ FRQWUDFWV WR EX\ SUHYLRXVO\ Â&#x2021; +RXVLQJ VWDUWV 86 RFFXSLHG KRPHV URVH LQ 0D\ Department. EXLOGHUV VWDUWHG ZRUN RQ PRUH PDWFKLQJWKHIDVWHVWSDFHLQWZR Sales rose VLQJOHIDPLO\KRPHVLQ0D\IRU \HDUV 7KH 1DWLRQDO$VVRFLDWLRQ 7.6 percent DWKLUGVWUDLJKWPRQWKDFFRUGLQJ RI5HDOWRUVVDLGLWVLQGH[RIVDOHV in May from WR GDWD IURP WKH &RPPHUFH DJUHHPHQWV LQFUHDVHG WR  April to a 'HSDUWPHQW $QG KRPHEXLOGHUV LQ 0D\ IURP  LQ $SULO $ UHTXHVWHG WKH PRVW SHUPLWV WR seasonally UHDGLQJDERYHLVFRQVLGHUHG VWDUW SURMHFWV LQ  \HDUV adjusted KHDOWK\ 2YHUDOOKRXVLQJVWDUWVIHOOLQ0D\ Â&#x2021; &RPSOHWHG KRPH VDOHV annual rate WR D VHDVRQDOO\ DGMXVWHG DQQXDO &RPSOHWHG VDOHV RI SUHYLRXVO\ of 369,000 UDWH RI  %XW WKDW ZDV RFFXSLHG KRPHV IHOO LQ 0D\ WR homes. HQWLUHO\ EHFDXVH RI D SOXQJH LQ D VHDVRQDOO\ DGMXVWHG DQQXDO YRODWLOH DSDUWPHQW FRQVWUXFWLRQ UDWH RI  PLOOLRQ DIWHU QHDUO\ 6WLOO WKH UDWH RI FRQVWUXFWLRQ WRXFKLQJ D WZR\HDU KLJK WKH SUHYLRXV DQG WKH OHYHO RI SHUPLWV UHTXHVWHG UHPDLQ PRQWK7KH1DWLRQDO$VVRFLDWLRQRI5HDOWRUV URXJKO\KDOIWKHSDFHFRQVLGHUHGKHDOWK\ VD\VVDOHVKDYHULVHQSHUFHQWIURPD\HDU Â&#x2021; 0RUWJDJHUDWHV7KHDYHUDJH86UDWH DJR6WLOOVDOHVDUHZHOOEHORZWKHPLOOLRQ RQD\HDU¿[HGPRUWJDJHIHOOLQODWH-XQH D\HDUUDWHWKDWHFRQRPLVWVFRQVLGHUKHDOWK\ WRSHUFHQWWKHORZHVWVLQFHORQJWHUP Â&#x2021; 1HZKRPH VDOHV $PHULFDQV ERXJKW PRUWJDJHVEHJDQLQWKHV7KHUDWHRQ QHZKRPHVLQ0D\DWWKHIDVWHVWSDFHVLQFH WKH\HDUORDQKDVEHHQEHORZSHUFHQW $SULO  DFFRUGLQJ WR WKH &RPPHUFH VLQFH 'HFHPEHU DFFRUGLQJ WR PRUWJDJH 'HSDUWPHQW6DOHVURVHSHUFHQWLQ0D\ EX\HU)UHGGLH0DF

How  does  Vtâ&#x20AC;&#x2122;s  education   property  tax  system  work 7KH 7RZQ RI :HVW 2YHUVKRH LV SODQQLQJ WR UHDSSUDLVHIRUWD[\HDUEXWIRUWD[\HDU WKDWFDPSLVDVVHVVHGDW :LWKRXW WKH &/$ \RX ZRXOG EH WD[HG DW WKHVDPHUDWH<RXZRXOGSD\ <RXU :HVW 2YHUVKRH QHLJKERU ZRXOG SD\ :LWKWKH&/$\RXVKRXOGERWKSD\ WKHVDPHDPRXQW ,WLVXVHIXOWRWKLQNRIWKH&/$DVDGMXVWLQJ WKHOLVWHGYDOXHRIWKHSURSHUW\WRIDLUPDUNHW YDOXHWRHQVXUHIDLUQHVV7KH:HVW2YHUVKRH FDPS LV DGMXVWHG E\ WKH FRPPRQ OHYHO RI DSSUDLVDO WR EULQJ LWV OLVWHG YDOXH LQWR OLQH ZLWKWKHPDUNHW $VVHVVHG 9DOXH   · &/$    $GMXVWHG 9DOXH   1RZ WKH WD[HV SDLGE\WKHWZRFDPSVZRXOGEHWKHVDPH How  does  the  spending  level  voted  in  my   town   affect   the   homestead   education   tax   rate? 7KHWD[UDWHOHYLHGRQKRPHVWHDGSURSHUW\ LV DGMXVWHG XSZDUG LI WKH UHVLGHQWV RI WKDW VFKRRO GLVWULFW VSHQG PRUH WKDQ WKH ³EDVH HGXFDWLRQ VSHQGLQJ´ DPRXQW 7KH EDVH LV  SHU SXSLO IRU WD[ \HDU  )<  +HUH¶V DQ LOOXVWUDWLRQ RI KRZ WKH UDWH LV DGMXVWHG 6D\\RXUORFDOVFKRROEXGJHWSURYLGHVIRU VSHQGLQJRISHUSXSLO 7 K H KRPHVWHDGWD[UDWHRIZLOOEHDGMXVWHG ,WZLOOEHDGMXVWHGKLJKHULQSURSRUWLRQWRWKH DPRXQW \RXU YRWHUV GHFLGHG WR VSHQG RYHU SHUSXSLO,QWKLVH[DPSOHWKHGLVWULFW VSHQGLQJDGMXVWPHQWLV /RFDOO\ $SSURYHG SHU 3XSLO 6SHQGLQJ   (See  Property  taxes,  Page  15)

Editorâ&#x20AC;&#x2122;s  note:  In  Vermont,  the  state  sets  the   education  property  tax  rate,  along  with  local   school  boards.  All  homeowners  pay  property   tax   to   pay   for   public   schools   based   on   the   value   of   their   home   and   land,   and   many   receive  a  discount  based  on  their  income.  The   Department  of  Taxes  provided  this  FAQ  about   the  education  property  tax  rate. How  are  the  education  tax  rates  set? )RU WD[ \HDU  )<  WKH EDVH HGXFDWLRQWD[UDWHIRUKRPHVWHDGSURSHUW\LV ,WLVDGMXVWHGE\WKHGLVWULFWVSHQGLQJ DGMXVWPHQW DQG E\ WKH VFKRRO GLVWULFW¶V FRPPRQ OHYHO RI DSSUDLVDO NQRZQ DV WKH &/$ )RU WD[ \HDU  )<  WKH EDVH WD[ UDWH IRU QRQUHVLGHQWLDO SURSHUW\ LV  ,W LV DGMXVWHG E\ WKH VFKRRO GLVWULFW¶V FRPPRQ OHYHO RI DSSUDLVDO 7KH QRQUHVLGHQWLDO WD[ UDWHLVQRWPXOWLSOLHGE\WKHGLVWULFWVSHQGLQJ DGMXVWPHQW What  is  the  purpose  of  the  common  level   of  appraisal? 7KH DGMXVWPHQW E\ WKH FRPPRQ OHYHO RI DSSUDLVDO &/$  HQVXUHV WKDW \RX DQG \RXU QHLJKERU LQ WKH QH[W WRZQ SD\ WKH VDPH DPRXQW RI HGXFDWLRQ WD[ RQ SURSHUWLHV RI HTXDO YDOXH 7KH &/$ LV XVHG WR HTXDOL]H HGXFDWLRQWD[HVVWDWHZLGHE\UHÃ&#x20AC;HFWLQJORFDO YDULDWLRQV WKDW RFFXU EDVHG RQ UHDSSUDLVDO VFKHGXOHVDQGRWKHUIDFWRUV ([DPSOH /HW¶V VD\ \RX KDYH D FDPS LQ (DVW 2YHUVKRH WKDW LV ZRUWK <RXU OLVWHUVGLGDFRPSOHWHUHDSSUDLVDOIRUWD[\HDU DQGWKH\¶YHDVVHVVHG\RXDW 7KHUH¶V D FDPS DFURVV WKH WRZQ OLQH LQ :HVW 2YHUVKRH WKDW LV DOVR ZRUWK 

Kittredge Land Surveying, PLLC Seth W. Kittredge, L.S.

Boundary  Retracement    â&#x20AC;&#x201C;    Subdivisions Boundary  Line  Adjustments   )(0$)ORRG&HUWL¿FDWLRQV Replacement  of  Missing  Corner  Monuments Vermont  Land  Records  Research   Expert  Witness  Services Topographic/Site  Surveys     Construction  Layout

Phone: 802-870-7028 Cell: 802-989-1625 28 Thomas Circle - Vergennes, Vt. 05491 email: kittredgelandsurveying@gmail.com

George Brewer

Mirjam Brett

Brian Valley

Friendly & Comprehensive Service for Buyers & Sellers in Addison County and Beyond 2337 Rt. 7 South Middlebury, VT

www.acrevt.com

A  Special  Publication  of  The  Addison  Independent,  Monday,  July  9,  2012  â&#x20AC;&#x201D;  PAGE  15

Property  taxes (Continued  from  Page  14) $13,900  per  pupil. =  (District  Spending  Adjustment)  1.55050  or   The  homestead  tax  rate  will  be  $1.4182.  Thatâ&#x20AC;&#x2122;s   155.050%. $0.89  times  the  district  spending  adjustment. (Locally   Approved   per   Pupil   Spending)   The  effective  homestead  tax  rate  is  now  calcu-­ $13,900 lated  in  the  following  way: á  (Base  Education  Spending)  $8,723   (Base  Homestead  Rate)  $0.89   =  (District  Spending  Adjustment)  1.59349 x  (District  Spending  Adjustment)  1.55050   =  (Effective  Homestead  Tax  Rate)  $1.3799. (Base  Homestead  Rate)  $0.89   x  (District  Spending  Adjustment)  1.59349   If   the   CLA   in   your   town   is   90.00%,   your   =  (Effective  Homestead  Tax  Rate)  $1.4182. homestead  education  rate  to  be  applied  to  home-­ stead  properties  becomes  $1.0409. The  nonresidential  tax  rate  is  $1.38.   (Effective  Homestead  Rate)  $1.3799   á  (CLA)  0.9000   Of  course,  both  these  rates  would  then  be  ad-­ =   (Tax   Rate   Paid   by   Homestead   Properties)   justed  by  the  CLA. $1.5332 ,V WKHUH DQ DGGLWLRQDO DGMXVWPHQW IRU Keep  in  mind  that  some  town  districts  are  also   VFKRROGLVWULFWVZKRVHSHUSXSLOVSHQGLQJLVD PHPEHUV RI XQLRQ VFKRRO GLVWULFWV RU XQLÂżHG ORW PRUH H[FHVV VSHQGLQJ  WKDQ WKH DYHUDJH school  districts.  In  those  instances,  the  tax  rate  is   VWDWHZLGH" a  combination  of  the  individual  rates  of  the  dif-­ Yes.  If  a  town  has  â&#x20AC;&#x153;excess  spending,â&#x20AC;?  then  the   ferent  districts  of  which  you  are  a  member. Department   of   Education   includes   that   excess   Is   the   nonresidential   tax   rate   of   $1.38   ad-­ twice   in   the   computation   of   its   district   spend-­ MXVWHGWRUHĂ&#x20AC;HFWVSHQGLQJRYHUWKHÂłEDVHHGX-­ ing  adjustment.  Excess  spending  means  the  per-­ FDWLRQSD\PHQW"´ pupil  spending  (less  eligible  construction  costs)   No.  The  rate  for  nonresidential  property  is  the   is  in  excess  of  125  percent  of  the  excess  spend-­ same  for  all  property  in  Vermont.  It  is  adjusted   ing  base.  For  tax  year  2012  (FY13),  the  excess   only   by   the   common   level   of   appraisal.   If   the   spending   base   is   $11,873.   So   the   threshold   is   CLA  is  90.00%  the  rate  becomes: $14,841   (1.25   x   $11,873).   Letâ&#x20AC;&#x2122;s   look   at   an   ex-­ (Nonresidential  Tax  Rate)  $1.38 ample: á  (CLA)  .9000   Your  school  district  spends  $15,500  per  pupil.   =  (Effective  Nonresidential  Tax  Rate)  $1.5333. The  excess  spending  base  is  $11,873.  125%  of   :LOOWKHUHEHWRZQVZKHUHWKHQRQUHVLGHQ-­ $11,873  is  $14,841. WLDOWD[UDWHLVORZHUWKDQWKHKRPHVWHDGWD[ Your  per-­pupil  spending  exceeds  the  threshold   UDWH" by  $659.  ($15,500  â&#x20AC;&#x201C;  $14,841.  This  is  your  school   Yes.   In   towns   with   per   pupil   spending   in   districtâ&#x20AC;&#x2122;s  excess  spending. excess   of   $13,526   the   homestead   rate   will   be   The  district  spending  adjustment  is:   KLJKHUWKDQWKHQRQUHVLGHQWLDOUDWHIRUÂżVFDO\HDU [(District  spending)  15,500  +  (Excess  spend-­ 2013.  Consider  a  school  district  with  spending  of   ing)  659]

For Sale by Owner

Middlebury Cape Convenient and well-kept three bedroom house in Middlebury. In-town on spacious .41 acre lot. Easy walk to schools, downtown. Hardwood floors, bay window, brick fireplace with wood stove, finished basement with workshop, two-car garage. Recently renovated kitchen and upstairs bath, lovely new back porch. $310,000.

Contact Steve Abbott: (802) 377-7762 or abbott@middlebury.edu.

JIPNER HOME INSPECTIONS, LLC A HOME INSPECTION SERVICE COMPANY

Inspecting fine homes since 2000

VAUGHN JIPNER

LICENSED, INSURED & CERTIFIED

(802) 373-4123

jipnerinspections@gmail.com JIPNERHOMEINSPECTIONS.COM Easy to read computerized electronic reports â&#x20AC;&#x201D; PDF Format. 8BUFS5FTUJOHr3BEPOJO"JS5FTUJOH

á  (Base  Spending)  8,723   =  1.85246 Rate  becomes:   (District  spending  adjustment)  1.85246   x  (Base  rate)  $0.89) á  CLA If  the  CLA  is  85%,  the  homestead  rate  is:   (District  spending  adjustment)  1.85246   x  (Base  Rate)  $0.89) á  (CLA)  .85 =  $1.9396 In   this   example,   the   excess   spending   adjust-­ ment  adds  about  7  cents  to  the  homestead  rate. 0\ WRZQ LV FRPSOHWLQJ D UHDSSUDLVDO IRU WKH$SULO   JUDQG OLVW 8VLQJ WKH FRP-­ PRQOHYHORIDSSUDLVDOWRDGMXVWWKHWD[UDWHV GRHVQœW VHHP IDLU 2XU FRPPRQ OHYHO RI DS-­ SUDLVDOZDVEDVHGRQODVW\HDUœVJUDQG OLVW7KHWD[ELOOVIRUWKLV\HDUZLOOXVHDJUDQG OLVWWKDWLVDWRIPDUNHWYDOXH:LOOWKH WD[ UDWHV EH DGMXVWHG WR DFFRXQW IRU UHDS-­ SUDLVDOV" Yes.  In  those  towns  that  have  reappraised  for   2012,   the   common   level   of   appraisal   used   to   calculate  the  rates  will  be  the  ratio  of  the  reap-­ praised  2012  education  grand  list  to  the  equal-­ L]HG HGXFDWLRQ JUDQG OLVW FHUWL¿HG -DQXDU\  2012.  The  Director  of  PVR  is  charged  by  statute   with  determining  whether  a  reappraisal  has  oc-­ curred  that  warrants  a  new  CLA.. 7RZQV DOVR OHY\ WD[HV IRU KLJKZD\V DQG RWKHUPXQLFLSDOVHUYLFHV$UHWKHUHGLIIHUHQW UDWHVIRUKRPHVWHDGDQGQRQUHVLGHQWLDOSURS-­ HUWLHV" No.   Municipal   taxes   that   pay   for   highways   and   other   municipal   services   are   levied   on   the   municipal  grand  list.  With  the  exception  of  the   few  communities  that  have  different  rates  in  ac-­ cord  with  their  charter,  municipal  taxes  are  not  

VXEMHFWWRWD[FODVVLÂżFDWLRQ The  selectboard  determines  the  amount  to  be   UDLVHGIURPWD[HVDQGGLYLGHVWKDWÂżJXUHE\WKH total  municipal  grand  list  established  by  the  list-­ ers.  There  is  no  adjustment  for  the  common  level   of  appraisal  as  there  is  no  need  to  adjust  the  mu-­ nicipal  values  to  a  single  point  in  time.  This  is  not   a  state  tax  requiring  equalization  across  towns. ,W VD\V RQ PDWHULDO ZLWK P\ WD[ ELOO WKDW VRPH SHRSOH DUH DEOH WR SD\ WKHLU HGXFDWLRQ WD[EDVHGRQLQFRPHUDWKHUWKDQRQWKHYDOXH RIWKHLUSURSHUW\+RZGRHVWKDWZRUN" There  is  a  property  tax  adjustment  worksheet   on   the  Tax   Department   website.   It   can   used   to   estimate  the  property  tax  adjustment  credit.  Visit   the  link  below: www.state.vt.us/tax/propertyadj.shtml 7KH FODVVLÂżFDWLRQ RI SURSHUW\ DV KRPHVWHDG assures   that   a   Vermont   resident   will   not   pay   more   than   the   statutorily   established   percent-­ age  of  household  income  for  property  taxes  on   his  or  her  housesite  (house  and  up  to  two  acres).   The  difference  between  the  taxpayerâ&#x20AC;&#x2122;s  property   tax   bill   and   the   property   tax   based   on   house-­ hold  income  is  paid  by  the  State  in  the  form  of   a  property  tax  adjustment  credit.  The  money  is   paid   directly   to   the   Town.   The   Town   then   is-­ sues  the  homeowner  a  property  tax  bill  for  the   net  due.  The  property  tax  adjustment  calculation   uses  prior  year  household  income  and  prior  year   property  taxes. :KRGR,FRQWDFWLI,QHHGPRUHLQIRUPD-­ WLRQ" Call   the   Taxpayer   Services   Division   at   802-­ 828-­2865   or   toll   free   in   Vermont   at   866-­   828-­ 2865. You  can  also  send  e-­mail  to:  schooltax@state. vt.us.

BillBeck.com CURIOUS ABOUT THE MARKET? Much has been written about the real estate market over the past five years. While the number of sales has decreased, values in Vermont have not decreased by double digits as they have in other parts of the country. If you would like a CURRENT MARKET EVALUATION of your property reflecting recent sales in Addison County, please contact us to schedule a complimentary analysis with no obligation. Coldwell  Banker

Bill  Beck   Real  Estate

802-­388-­7983 Email:  cbbeckre@sover.net

PAGE  16  —  A  Special  Publication  of  The  Addison  Independent,  Monday,  July  9,  2012


Addison County Real Estate - Summer 2012