It’s summer in Vermont and no one needs to be told that today’s real estate market is turbulent. It seems like every time you turn on the news or read the paper someone is doling out more ‘expert’ advice on the current state of the real estate market. One-minute things are on the rebound and the next, it’s time to jump ship. What are you supposed to believe? This kind of contradictory reporting is exactly the kind of thing that puts the real estate market into a deep freeze. Nobody wants to buy a new home if the price is going to freefall the next month and no one wants to put their home on the market when prices are at their lowest.

Vermont’s Market?
Read the rest of this entry »

The infamous Greek philosopher Heraclitus once said, “The only constant is change.” In other words, change is inevitable. We see changes being made every day and in almost every aspect of life. The way we communicate, shop, travel, etc. is drastically different than in years past. And with these changes comes adaptation. Here in the real estate world, we are making every effort to ride the waves of change to better suit our clients here in Vermont.

A recent article from realestaterama.com shed some light on exactly how real estate agents are dealing with change, particularly in marketing. The days of putting ads in the Sunday paper and waiting for phone calls are virtually over. Today’s Realtors needs to utilize the art of social networking via the Internet. Whether it be Facebook, Twitter, or Zillow, mastery of these social mediums is quickly becoming a “must.”

Omega now on Facebook and Twitter

We are proud to say that Omega Real Estate is well aware of the changes and keeping right up with the curve. You can find us on Facebook and Twitter and our personal website has thousands of listings in towns like Burlington, Williston, Essex and the rest of Vermont. Our listings are also equipped with easy search engine tools to make finding everything you’re looking for that much easier.

Despite the changes we face in technology, one thing that will always stay the same is our desire and willingness to work face to face with our clients. That’s a form of communication the Internet can never replace in the real estate world. So even though change is inevitable, the quality of work we provide to our clients will always stay the same.

The deadline is here. The federal homebuyer tax credit opportunity will almost surely be gone by the end of the business day tomorrow (June 30^th). Despite pushes by states like Massachusetts and organizations like the National Association of Realtors® (NAR) to once again extend the tax credit, it is unlikely that Congress will make such an amendment.

 According to the NAR, up to 180,000 home buyers will miss out on the tax credit. NAR President Vicki Cox Golder told LoanSafe.org that these buyers will miss the June 30^th deadline through no fault of their own. “These are not buyers who just entered into the market. These are buyers who previously met all the qualifications for the tax credit, but find themselves at the mercy of a workflow jam with lenders or other delays…” said Golder. “It would be a tragedy for them not to be able to complete the purchase in time to claim the credit.”

 The NAR is pushing hard for Congress to quickly pass some legislation to extend the tax credit deadline, but many believe they will not be inclined to do so. The Massachusetts Association of Realtors is asking for a 90-day extension, giving buyers until September 30 to finalize their deals. But the Wall Street Journal is reporting that although Congress did extend the tax credit last fall, they feel it is unlikely to happen this time.

So how is this affecting us locally? Well according to NAR estimates, approximately 400 home sales in the state of Vermont will miss the deadline. That inevitably means that some folks here in the greater Burlington area, Chittenden County, and the rest of Vermont are going to be affected. And although we won’t know for certain until the end of the business day tomorrow, it appears June 30^th will be the final deadline.