"I will provide the best service possible for every client I represent... I will always remember that to have a winning relationship with my clients, we must always have a mutual goal. I will never lose sight that my integrity, loyalty, understanding, accountability and creativity are what make me stand out from the real estate masses."
Nancy Jenkins, CRB, CRS
PRUDENTIAL REALTY MART
120 Kimball Ave., Suite 110
South Burlington, VT 05403 |
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The difference between ordinary and extraordinary--is that something extra.
Vermont is up and running! The predictions for 2005, nationally and locally, are optimistic
and exciting. The median family income is expected to be higher in 2005 exceeding the
peak year of 2000. We expect 2005 to be a very good year to invest in Real Estate.
Interest rates are historically low, and the Federal Reserve is returning to a “neutral bias”
which means a gentle rise in mortgage rates over the next 12 months. Now is a perfect
time to find just the right home for your family, or to increase your Real Estate portfolio.
Vacation home sales in Vermont and the nation are also on the rise.
2004 THE YEAR IN REVIEW • Average Single Family Home Prices by County
| Chittenden County |
$276,371 |
up 8.4% (from 2003) |
| Addison County |
$224,499 |
up 16.6% |
| Franklin County |
$170,083 |
up 10.1% |
| Lamoille County |
$303,192 |
up 6.8% |
| Grand Isle County |
$238,914 |
up 38.1% |
The highest average sales prices were again recorded in Charlotte (at $509,798),
followed by Ferrisburg (at $481,187), and Shelburne (at $400,119), where lakefront sales
and larger homes draw up the values. The suburban markets of South Burlington (at
$302,837), Williston (at $282,227), and Essex (at $280,555), remain strong. The average
condo price in Chittenden County increased 14.3% to $186,747. First-time buyers and
empty nesters are finding this market their niche.
Appreciation, according to our local appraisers, has been steady with an average of 6%
to 10% increase shown in most areas. Smart Money magazine again notes that the
Burlington area is “fairly valued,” meaning that home sales are in line with family
incomes (unlike some areas which are “overvalued” by 15-20%). Kiplinger’s magazine
notes the Burlington-area median home price was $192,262 and appreciation rates were
12.2% for last year, 28% for 2001-2003, and 50.4% for 1999-2004.
My outlook for 2005 is for continued steady sales volume, and—typical for Vermont—
moderate appreciation. We are seeing a strong influx of relocation and desire-based
moves due to the number of Vermont families downsizing, upsizing, and moving from
the country to town or from town to the country.
The Jenkins Team has had another record year assisting 279 families with their moves
in 2004. Our closed-sales volume was up an amazing 52% over 2003. We expanded our
Team to bring you unmatched service and most importantly, delivered the technology
and web presence you demand. We recognize that each of our clients’ needs is unique,
and we are committed to fulfilling those needs with both continued cutting edge
technology and “The Best Marketing Available.”
If you need Real Estate assistance or information—or if 2005 is your year for a move,
investment purchase, or vacation home—please give us a call. We look forward to
working with you, your friends, co-workers, and your family.
Our best wishes for a safe, happy and prosperous 2005!
Nancy & The Jenkins Team
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TOLL FREE: 888-567-4049