"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 – the perfect summer retreat. Our summer weather has been reported as one of the best in the past 50 years. We have enjoyed the boating, hiking, and biking available to us, and so have many folks who have come to Vermont as second home owners. I noticed an article in the Boston Globe raving about our affordability as a second home location. In July, a New York Times reporter called to interview with me and also a few second homeowners. The goal of their article was to connect the affordability of flights from New York City to the increase insecond home ownership here.
Vermont Property Owner’s Report August – September 2005 reports the second home market is strong with the median price up a whopping 26.7% in the March to June time period compared to last year. VPOR is also noting an increase in inventory beginning to dampen the market. VPOR notes a significant decrease in the appreciation rate for condos compared to the appreciation rates for the previous two years.
Herein Chittenden Country, there has been a sharp inventory increase in single family homes with over 300 homes available according to VREIN. We have not seen this many homes available since late in 2002! Another troubling statistic is a decrease in the number of homes sold year-to-date. The total closed volume is down and inventory is up; we must address the facts and note a softening of the market. An interesting side note shows that the average price of single family homes is still climbing up 12.5% to $315,044 over year end through July.
What do all these statistics tell us to expect? I believe we will see a softening of prices with a downward pull on property values and appreciation. I expect a strong fall based on the National Economic News, historically low mortgage rates, and low inflation. Based on current trends, the Federal Reserve should not need to tighten interest rates too severely over the next six months. The price of gas and oil should continue to act as a drag on consumer confidence.
Bottom line – the Vermont Real Estate Market always seems to regulate itself. We tend to pull in just enough to keep rampant appreciation at bay and to keep our market grounded in reality. As I have always said, Vermont’s real estate market is most always steady. Sometimes a little slow on the upside based on other national markets, but with much less downside volatility. This makes our values more grounded and keeps a great place to buy or sell your first home, vacation home, or investment property.
Here at the Jenkins Team, we’re always working at bringing in new and exciting properties to the market and matching you with your special new home.
Call today. It will be our pleasure to help you with your real estate needs.
Sincerely,
Nancy & The Jenkins Team
CLIENT TESTIMONIAL
The quality, professionalism, and integrity of the Jenkins Team for both the purchase of our new home and the sale of our old one was unparalleled excellence from showings to closings. The Jenkins Team worked efficiently and expertly in meeting our goals in our real estate transactions. From seeing our dream home, making an offer, to putting our home on the market and receiving an offer on our property...an unbelievable two weeks! The Jenkins Team worked tirelessly and often into the night to make our experience worry and stress-free. All involved in customer service could take a lesson from the Jenkins Team; they work with integrity and dedication, from experience. Our needs always came first and were met with speed and smiles. The 110% effort shown by Nancy, Patti, Judy, Carol, Erica, Kendra and others allows us to recommend The Jenkins Team with 110% confidence and without reservation.
-CHRIS & TERE GADE • 6-21-05
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