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Montpelier, VT Real Estate News

By Ray Mikus, Green Means Go!
(Green Light Real Estate)
Well, it was bound to happen.  There has been a spate of break-ins of vacant properties in the Montpelier area, with the crooks stealing copper piping.  I still don't quite get how that's a profitable crime to commit, but, well, I guess I'm just inexperienced in stealing things. Single family homes and multi-family homes in Montpelier, Calais, and other towns have been the targets.  The Montpelier Police Department has a suspect, and they are currently trying to determine if all, some, or none of the crimes can be attributed to this one suspect. Moral of the story:  If you have a vacant building, make sure it's locked, and check in on it from time to time.  You might want to let a neighbor know to keep a lookout for cars (or pickup trucks in this case) parked in front.  
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By Ray Mikus, Green Means Go!
(Green Light Real Estate)
In Vermont, Realtors have a two year licensing cycle.  During those two years, all Realtors are required to complete a certain number of continuing education hours. I just want everyone to know that, while being something of a procrastinator, I have finished my continuing ed requirements for the 2008-2010 license renewal cycle.  That's 16 hours of coursework. When I was a kid, my parents used to take my brother, my sister, and me out for ice cream when we did well on our report cards.  I'll be expecting similar treatment from my loyal readers.  Besides, Village Pizza now sells cremees, and they're RIGHT across the street.
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By Ray Mikus, Green Means Go!
(Green Light Real Estate)
Negotiating When Buying or Selling in Montpelier Or anywhere, really.  I'm seeing this a little more lately, and I have to admit, it drives me nuts.  Offers are put in, and sellers will sometimes simply not respond.  No counter, no nothing. Technically, there are timeframes within which offers need to be responded to, and the offers become void once those timeframes pass.  So, it is a way of rejecting an offer on a home for sale in Montpelier. Realistically, however, doesn't it make more sense to at least make a counter?  You can come down $1000 and set the tone that the price is sticky.  Granted, there's a good chance that'll end the negotiating. Sellers:  You don't have to "split the difference" between an offer and your asking price.  If that were the case, everyone would offer zero,...
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By Ray Mikus, Green Means Go!
(Green Light Real Estate)
Best Slice in Montpelier, VT I told the guy behind the counter that Village Pizza in Montpelier, VT has the best slices in town.  He asked me, "According to whom?"  According to me! What I like best is that you can actually buy slices.  It's right across the street from my office, and sometimes I run out of lunch (or forget to pack--yes I'm that thrifty!) There's a pool table, a few video games, and a salad bar.  It's not organic.  It's probably not from locally produced meat, cheese, or vegetables.  And you know what?  That's fine with me.  Every now and then, even here in Montpelier, people just need good ol' social-conscious-free pizza. Plus, it was 2 for 1 when I stopped by Saturday afternoon.  Maybe that was because I declared it best slice in Montpelier.
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By Ray Mikus, Green Means Go!
(Green Light Real Estate)
Just totally NAILED the first unit in my continuing ed.  Granted, there are 10 more units, but hey, I nailed the first one. When I was in school, my parents would take us out for ice cream cones if we had good report cards.  It's 10:45, the 3 year-old is sound asleep, the one-year old just woke up (thankfully, briefly), and I'm going to take a raincheck on my ice cream. But let this serve as a warning to the last 9 units: I'm coming for you!
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By Ray Mikus, Green Means Go!
(Green Light Real Estate)
Montpelier Caravan It being the 2nd Tuesday of the month, today was the Montpelier Caravan.  The caravan is a showcasing event for new listings of homes for sale Montpelier for all the different agencies. As a seller, it's a great chance to get a lot of high quality exposure for your house.  I mean, it's a quick way to get several agents and brokers to preview your house.  It's easier to sell the house if you've actually been in it. Here are my picks from the caravan: 11 Dunpatrick at $279,000 plus a $15,000 concession to put in a state of the art multi-zone propane baseboard hot water system.  4 bedrooms, 3 baths, and a finished basement on more than an acre in Montpelier?  Wow. 72 Barre Street at $475,000.  Big, stylish office space with an apartment and lots of parking right in Montp...
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By Ray Mikus, Green Means Go!
(Green Light Real Estate)
Free installation of Corian countertops in Barre and Montpelier I don't know if this is a nationwide event, or if this is something the local lumber yard (Allen Lumber) has worked out with its suppliers.  And I don't really care that much. What I do care about is that if you've got a tired or dated kitchen, this might be a good chance to completely change its look, and at a good price.  For more details, visit www.MontpelierBarreRealEstate.com, or visit www.AllenLumberCompany.com. All I'm saying is that if you've been thinking of updating your kitchen, the countertop's as good a place to start as any, and if you can save a few bucks, that's even better.  Unless you think that buyers are as enamored with the 50 year old formica as you are... Have fun.  And no, I don't get paid for passin...
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By Ray Mikus, Green Means Go!
(Green Light Real Estate)
You've got to love it when sellers think outside the box a little.  We've got a commercial property with 2 nice office spaces in it for sale in Montpelier, and the seller just let it be known that seller financing is an option. As a buyer or investor, this could potentially make the property just that much more attractive.  A seller-held 20-25% second could help this one fit into someone's formula for success.  What this means, practically speaking, is that a buyer can avoid going to a bank altogether.  With some cash (but not the full purchase amount), an attractive financing package can be put together outside the realms of a bank.  There's added flexibility in lease terms, appraisal issues (maybe not even have to do an appraisal), and others. I'm just glad to see a seller who looks a...
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By Ray Mikus, Green Means Go!
(Green Light Real Estate)
By the time buyers are at the point of making an offer, they obviously want the house.  But they're not going to pay more than they think it's worth.  Besides, even if they did want to pay more than it's worth, the bank-ordered appraisal's going to undermine that masochism. So...prices are going to trend toward reality. I just had an instance where my market (I represent the buyers) was more than 10% less than the asking price.  We talked about what a good price might be, and made our initial offer keeping in mind a series of hypothetical counters that would cause us to arrive at the "good" price. That's part of the strategy I use when I work as a buyer's agent in Montpelier.  I mean, negotiation and price strategy are both part of the game, right? But the other agent thought differentl...
Comments 6
By Ray Mikus, Green Means Go!
(Green Light Real Estate)
Playing Fair When Selling? One of the great parts of working in the Montpelier real estate market is that there are some great people in the field.  Agents cooperate all the time, bringing buyers, keeping deals together, etc.  I've had a couple of people ask how that cooperation works with respect to the commission.  While it may be different in different parts of the country, in the Montpelier real estate market, usually the commission is paid by the seller, and it's split evenly between the cooperating brokers.  That means, for example, that if a house is listed by Heney Realtors, and someone from Ajax Realtors brings a buyer, the commission is split 50-50. It sort of makes sense.  I mean, both realtors are going to work their tails off keeping everything on track. There are over 60 a...
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By Ray Mikus, Green Means Go!
(Green Light Real Estate)
The reports of a dead January in Montpelier and Barre are greatly exaggerated.  Ok, it's maybe not as hectic as in June and July, but even so, Fred and Charlie in our office were out on appointments all day, as was Tim.  Me?  I had a showing in the morning, ran out to meet with an appraiser, came back to the office to scarf down some bean soup (I made it myself, thank you very much), and then was out to another listing appointment in Montpelier. Don't believe that things are picking up?  Check out RayMikus.com to see the listings, and explore other local real estate lore This isn't a dead time.  What I'm seeing is that by keeping in touch with buyers and sellers throughout the year, even the typically slower times can still be busy...ish.  And I'd sure rather be busy...ish than blame th...
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By Ray Mikus, Green Means Go!
(Green Light Real Estate)
After a perfectly reasonable period of due diligence, and with considerable input from fellow Active Rainers, I went ahead and pulled the trigger on getting my own website.  Some agents here in Montpelier and Barre have their own sites, but most do not.  I'm just trying to set myself apart a little more, and provide more exposure. They weren't the cheapest, but I went with RealPro.  The sites are very classy, and the customer service (I'm sorry, "Client Care") people have thus far been very responsive.  Charlee was very patient with me as I asked a kazillion silly questions. And, one of the best features is that I'll have an easy link to my Active Rain blog (which is seeing more and more readers!).  So, I'll be able to continue blogging on AR, as well as on my own site. I have registere...
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By Ray Mikus, Green Means Go!
(Green Light Real Estate)
See, here's the deal:  I REALLY enjoy my job.  Today I enjoyed it even more than usual.  As some of you may know, I have a remote 100 acre camp listed for sale in Worcester, VT (just north of Montpelier).  In the winter, the only way up to the camp is on snowshoes or on a snowmobile. Last week, another agent in our office, Jane Eakin, went for the bucolic snowshoe approach. My buyers today wanted to burn a little gas.  So, up we went. I haven't been on a snowmobile since I was in Junior High, and my friend's parents went to bed way too early to properly supervise us.  But that was almost 25 years ago (Eesh?  Really?).  And I have to say, it was pretty darn fun.  Plus, it was a heck of a lot easier getting up the "road" on the snowmobiles than in a car. There are a couple of points I wan...
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By Ray Mikus, Green Means Go!
(Green Light Real Estate)
I rediscovered one of Montpelier's best restaurants--Royal Thai Orchid.  Didn't even have a menu, but as I talked to the owner about what sorts of flavors I was looking for, he hooked me right up.  I'm still not even sure what it was that we ordered, but we just kept saying, "This is SO good!" Years ago, someone nearly ruined Pad Thai for me by telling me that the "secret sauce" was ketchup.  Yeah right, I thought...but it tastes a lot like ketchup!  Haven't enjoyed Pad Thai since then. Until yesterday.  Next, I'm going to have to try the family's second restaurant in Waterbury, although, truth be told, when I'm in Waterbury, I always make a point of going to The Alchemist... Ok, as I said in the title, totally unrelated to real estate.  Unless, of course, someone wanted to give their f...
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By Ray Mikus, Green Means Go!
(Green Light Real Estate)
True Story:  Fred in our office ran into another agency's market analysis that simply took the city of Montpelier assessed value, and divided it by .6 to get the market value.  Huh?  Well, it's easy to check how accurate that method is.  Just take some sold houses (that are comparable), multiply by .6 and see if that's the assessed value.  Guess what?  They weren't even close. Very bluntly, a market analysis is used to find out how much someone's house is likely to sell for.  Unfortunately, it's as much art as it is science.  But, basically, here's how it's done-when it's done correctly. •1.        A Realtor takes a good, long, careful, and detailed look at a house-noting not only the number of bedrooms, but the overall level of finish, the feel, the flow, everything.  Then, since we're...
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By Ray Mikus, Green Means Go!
(Green Light Real Estate)
Well, here's my unofficial summary of 2009 multi family sales in Barre, VT and Montpelier, VT.  To me, the most interesting number is the total inventory of available properties in Barre, compared to the number of sales in 2009. Closed Multi-Family Properties: Barre:  8 Average Sale Price: $122,238 Average Price/Unit:  $34,187   Montpelier:  9 Average Sale Price:  $185,322 Average Price/Unit:  $79,402 Interestingly, only 2 of the sales in Barre were duplexes, but 6 of the Montpelier multi-families were duplexes.  Some of them were really "in-law" situations.  There was also a very wide range of "price per unit", including one ridiculously low 3-unit in Barre that went for $20,000.  Honestly, I never saw the inside of it, and I'm pretty sure I don't want to.  There was also an 11-unit on...
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By Ray Mikus, Green Means Go!
(Green Light Real Estate)
I love Montpelier.  Here's yet another reason why:  The Montpelier Capital Area Neighborhoods is asking the residents (remember, there are only around 7000, so participation is key!) to capture 1/10/10 on film (or bits).  Montpelier CAN wants people to take pictures of "a day in the life" on that particular day. I love it! True Confession:  I don't actually live in Montpelier--I live in Middlesex, but own properties in Montpelier.  I may have to submit my photos in a sneaky fashion.  You know, have a bona fide townie drop them off.  Or, I could develop them and put them in an unlabeled manilla envelope. Who am I kidding?  I'm just going to email them.  In a town of 7000, I suspect the officials may be inclined to skim over some of the details.
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By Ray Mikus, Green Means Go!
(Green Light Real Estate)
Of all the places to visit over Christmas, I went home to Michigan.  No sandy  beaches, no glorious historical architecture, and worst of all, no optimism.  Ok, a little optimism. I was asked again and again by wave after wave of relatives and friends, "Must be tough in real estate these days, eh?"  Well, maybe it is, and maybe it isn't.  That's not really the point.  The point is that I have had so much fun this year as a Realtor, that I can't imagine doing anything else...and I get paid for it! I told those waves of disbelieving relatives that I get to do pretty much whatever I want.  Want to target a particular neighborhood?  A particular price point?  Do online advertising?  Write a blog?  Send postcards?  Have coffee and donuts in the office for Saturday office hours?  Yup, yup, yu...
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By Ray Mikus, Green Means Go!
(Green Light Real Estate)
Although Montpelier is the capital, it's still a pretty small town of 7000 people.  The other towns in the area are small too.  And each one has its own feel, its own vibe, its own reasons that people want to live there. Let me clarify what local means here in Central Vermont.  When people call in, walk in, or visit the website, they usually want specific locations.  As examples, some people want to buy a home in Montpelier, some want to buy a home in Barre, some want to buy a home in the U-32 school district, etc.  It does happen sometimes where sellers or buyers contract with agents from outside the area to help.  It's just not usually the best way to do it.  Obviously, local Realtors know the market better than distant Realtors.  I know plumbers, electricians, handymen, contractors, ...
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By Ray Mikus, Green Means Go!
(Green Light Real Estate)
I couldn't put it off any longer.  It just wasn't fair to everyone else in the office. It's happening. We're loading four agents from our office into my Toyota RAV 4 and heading up the "road" to a 100 acre camp just north of Montpelier, in Worcester, Vermont.  This place is waaaayy up the road.  And when I say road, picture a Jeep commercial.  There have been many inquiries into the property, and it's time that everyone in the office knew the truth about the location. Here's the truth:  It's a gorgeous secluded piece of 100 acres,  It's not going to be a primary residence, but it's going to be a killer snowmobile, four wheeling, hunting, and hiking getaway.  The road's a real bear, but it's doable.  Having said all that, if we're not back in the office tomorrow morning, call out the sea...
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