Archive for the 'Omega Real Estate News' Category

Consider Purchasing a Summer Camp for Equity

This camp in St. Albans is for sale - what a GREAT Get-away

By now, cabin fever has hit me full force.  I wistfully look at my friend’s pictures of St. Maarten and desperately want to plunge my toes in the sand.  I even tried plunging my feet into the snow on my deck, but alas, the sensation just wasn’t the same.

So to keep me placated until the snow melts, I started remembering summer camp.  My folks rented a camp for a week on Lake Champlain and it was one of the best summers I’ve ever spent.  With the economy the way it is, many families are looking for ways to make their vacations pay for themselves and owning a great getaway is not only a treat for yourself, but an obvious equity builder.  Here are some tips when shopping for your summer retreat and how to rent it out to ensure a tidy profit at the end of the season.

1)  Location, location, location.  This is a no-brainer, but still, people will look at the “great deal” and neglect the essentials.  You want to make sure your retreat is close to entertainment, hiking, biking, kayaking. Is it easy to find?  Is it in a desirable spot?  Does it overlook the lake or a swamp?  Remember, you get what you pay for.
2) Accessible – Sometimes, summer camps aren’t plowed out in the winter.  Make certain you know who takes care of the plowing, road maintenance, and how often it’s done.  You don’t want to book a December get-away if your guests can’t access the driveway.
3) Year-Round or Seasonal Retreat – If it’s seasonal, what exactly does that mean?  What maintenance needs to be performed each winter to protect your investment?  Are there other vacation properties rented out close by and what’s their rate of fulfillment?
4) Show Me The Money – Check with the local town zoning laws to make sure you can even rent it out in the first place.  A top-notch real estate agent will go to the town clerk’s office to check over the deed, zoning, etc to make certain your intentions can be followed through on.  NEVER go blindly into the deal assuming you can just “do it under the table.” 
5) Right-of-Ways – If you’re getting a summer lakefront camp, make sure you know who has the right-of-way not only to the driveway, but to the dock, beach and lake access.
6) Water and Septic – Some summer camps may have a shared well or septic.  A good realtor will have already done their homework and can tell you what the story is with the property.
7) Get an Inspection – Especially with a 3 season property, you’ll want to make certain maintenance has been done to avoid headaches down the road.
8) Tax Impact – Make certain you know the state tax laws concerning second homes and see if it outweighs the equity you’ll be building over time.

So if you’re still suffering the throes of cabin fever, snap yourself out of it by checking out this beauty of a summer camp right on the lake.  If you’d like to view it, we’d love to show it to you (we get cabin fever too!)  Just contact us for a viewing.

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.

North Beach Burlington

Summer is officially upon us here in Vermont, and what a beautiful start we’ve had. Most will remember that the summer of 2009 was one to forget with rainy days most certainly dominating the forecast. And even though I’m at the risk of speaking to soon, so far 2010 has brought record temperatures and plenty of warm and sunny days to the Green Mountain State. Vermont has so much to offer during the summer months, when the weather provides it with the opportunity to do so, and vacationers know that if you’re looking for hiking, boating or dining with a view, Vermont is a great destination.

And if you have ever thought to yourself that it might be time to find a permanent vacation spot in Vermont, you won’t find a better time than NOW! According to the Vermont Property Owners Report, vacation homes and condominiums are experiencing a dramatic decline in price. Despite the uncooperative weather in 2009, vacation home sales in Vermont saw a surprising increase. Vacation home sales processed in July through October were up 61.6% compared to 2008.

So with vacation homes in Vermont showing an 18% price decline in 2010, we can expect a great number of sales this summer as well. Buyers, you’ve been presented with a great opportunity to finally get into that perfect Vermont vacation home you’ve been holding out for. Prices are down, the weather is up, and now is a great time to buy!