 Tom Thompson
(802)861-6212Each Office is Independently
Owned and Operated
| |  | "Custom crafted real estate services... dovetailed for you" in all Burlington, Essex, Colchester and Williston neighborhoods of Chittenden County
Your Burlington area real estate source for MLS access, buyer representation and home selling excellence.
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| Call Me Today
Tom Thompson -Tom's Team Vermont
RE/MAX North Professionals
875 Roosevelt Highway, Suite 210
Colchester, VT 05446
(802) 861-6212 Office
(802) 655-0400 Fax
Email: tom@tomsteam.com
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Homes currently on the market or recently sold
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| Test drive our great new home search site at
www.tomsteamvermont.vermonthomesnow.com
Check out my blog at activerain.com
$8000 TAX CREDIT FOR FIRST TIME BUYERS!!!
Are you a first time buyer or one who hasn't owned a home in 3 years? You may be eligible for this new program if you buy or bought after January 1 of this year or before December 1 of this year. The tax credit is for 10% of the home's purchase price up to a maximum of $8,000. Single individuals making up to $75,000, modified gross adjusted income(MAGI), or married couples making up to $150,000(MAGI). There is a proportional phase out as the incomes go to $95,000 and $170,000, respectively.
For details call your accountant or check the government site at www.federalhousingtaxcredit.com
For a home or condo call us today!
802-861-8212
January 2009
NEW SMOKE DETECTOR REQUIREMENTS
$7500 FEDERAL TAX CREDIT
2008 MARKET OVERVIEW
Vermont's NEW SMOKE DETECTOR REQUIREMENTS -- EFFECTIVE 1-1-09
For all new homes and homes sold after Jan 1st of this year, new photoelectric-only type of smoke alarms are required to be installed in the vicinity of any bedrooms on every level of a dwelling.
The law allows the use of photoelectric and carbon monoxide combination alarms but it does not allow combination ionization/photoelectric alarms to be used for these specific locations.
For more detail please go to www.dps.state.vt.us/fire/
******$7500 FEDERAL TAX CREDIT******************
First time home buyers who have bought between April 1, 2008 and July 1, 2009 are eligible for up to $7500 in Federal Tax Credits. There are income limitations and repayment requirements but this could provide a timely boost to your bottom line right now.
For more detail you can go to www.federalhousingtaxcredit.com
+++++++++ A LOOK BACK AT 2008 +++++++++++
The real estate market in Chittenden County faired much better than what we have heard is happening around the rest of the country. Overall the number of single family homes sold was down over 22% while the average and median home prices were down 3.8%.
There were some interesting deviations from these trends that seem to defy the laws of supply and demand. For example, in Burlington the number of sales was DOWN over 34%(from 181 to 118) while the average sales price was UP 9.5%. Charlotte sales volume was down 50% while prices went up over 18% to $842,850.
Bucking the trend, Essex sales volume was UP 9.5% while average price was DOWN 9.5%. Other towns values varied but in general we now have a greater number of homes available at lower prices with interest rates near all time lows, making 2009 a great time to be looking for your home in the Burlington area.
!!!!!!! Burlington named one of 5 "Safe Havens in Real Estate" by Kiplingers' December issue!!!!!!!!!!!
Based on a 1% average sale price increase, that's right INCREASE, in the average price of a single family home in Burlington for the year ended in June 2008, Burlington has been picked by Kiplingers as a safe haven. The number through the end of November for single family home sales in Burlington, year to year, is actually higher than that.
Another reason why to make the Burlington area your home.
Burlington named "Healthiest City in America"
November 2008
It's true. The CDC has named Burlington the healthiest city in America. This was based on 92 per cent of Burlingtonians admitting to good or great health, being amongst the best in exercise, low obesity and diabetes and other measures of ill health. Just another reason why real estate values have remained remarkably strong compared to most of New England and the rest of the country.
LOOKING TO BUY OR SELL REAL ESTATE IN THE LAKE CHAMPLAIN VALLEY AND THE GREATER BURLINGTON AREA?
Over 1500 families have relied on Tom Thompson and his team since 1977 for results based on enthusiasm, hard work and integrity. Earning the position as the top-selling RE/MAX Team in the Burlington area for 2007 is a confirmation of Tom's Team's commitment to that work ethic and to their clients.
Having lived in Essex and Colchester, taught school in South Burlington and been a flight instructor over all of the region, and having sailed Lake Champlain for 25 years Tom knows the Champlain Valley from many perspectives.
Whether you are looking to buy a first home, a condo or your dream home you have found your access to multiple listings of homes for sale. If you are looking for real estate in Burlington, Colchester, Essex, Williston, South Burlington, Jericho, Grand Isle, South Hero or other Chittenden County towns, Tom's Team will put your needs first, working seamlessly to make your housing search as enjoyable and as smooth as possible.
Home sellers will find Tom's Team's proven marketing plan is continually being upgraded for maximum results and to meet the changing needs of our dynamic real estate market.
Both Tom Thompson and Karin Ericson are Accredited Buyer's Representatives, Tom having worked representing buyers since the early 1980's. His track record and references are a tribute to his commitment to his clients. Tom is also a Certified Residential Specialist and a member of the RE/MAX Platinum Club and Hall of Fame.
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MID-SUMMER MARKET UPDATE JULY 15,2008
The Burlington area real estate market remains strong compared to many areas around the country. While prices have dropped just over 3% through the middle of July from year previous numbers, the actual number of sales of homes and condos is down over 19%. The number of single family homes on the market continues to increase and is now at 672, compared to 622 at this same time last year.
EARLY SPRING UPDATE 08 4.30.08
After a steady market through '07(see below), the first 3-1/2 months of '08 have shown us that Vermont is not immune to the national slowdown; it's just not a major impact.
PENDING SALES: Last year at this time our numbers for Chittenden County showed 176 single family homes pending. This year that number is down to 117, a 33.5% drop.
ACTIVE LISTINGS: This year we have 612 homes on the market versus 517 a year ago.
SOLD PROPERTIES(BOTH SINGLE FAMILY AND CONDOS as of 4.18.08)
324 have sold so far this year compared to 387 last year, a 16 % drop.
BUT WHAT IS REALLY IMPORTANT? THE PRICES: The average price for all residential properties sold this year so far is $274,520 compared to $284,396 last year at this time, a little more than a 3% drop.
So prices are holding up well and inventory is growing. It makes for a solid market to buy in and a reasonable market to sell in. For a more detailed breakdown of what might be happening in your town don't hesitate to call Tom at 861-6212.
PRIVACY POLICY
Tom Thompson is the sole owner of information collected on this site. Tom Thompson or RE/MAX North Professionals will NOT sell, share, or rent this confidential information to others.
CONTACT POLICY
By submitting personal information such as name, address, phone number, email address and/or other data, the real estate customer/prospect consents to Tom Thompson or Tom's Team contacting the customer/prospect by phone, U.S. Postal Service or email whether or not customer/prospect is participating in a state or federal or other "do not contact" program of any type
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Each Office is Independently Owned and Operated.
Each Office is Independently Owned and Operated.
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