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.

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!

Let the fun begin!

love the topics this time of year…taxes, taxes, taxes!  This tax issue has to do with all the Vermonters who have lived in a ‘homestead’ for all of 2009 and whose net household income is less than $97,000.  I’m sorry I can’t define the ‘net household’ part for you, but that’s why tax season is so much fun.  We all get to do a whole lot of esoteric figuring and then wait to  hear back from the tax department to see what we got wrong.

First of all, let’s get the terminology straight.  The prebate is formally known as a property tax adjustment.  It came from act 60 in the early part of the 2000’s.  What it attempts to do is redistribute education tax money we all send to the state so that children, no matter what town they live in (property rich vs. property poor), have better access to an equal education.  Now, I don’t know the numbers, but based on the $97,000 threshold and the fact that the average household income in Vermont is way less, many Vermonters get some prebate factored into their tax bill (yea!).  It could be as low as almost nothing, up to $8,000!  Most people would not get the higher amount, but the reason I’m telling you all this is the effect this prebate has on the real estate transaction between 4/1 and July 1.  April 1 of each year, as Vermonters know by now, is the date we establish whether a home is a primary residence which is taxed at a lower rate than if a home is not considered a primary residence, and qualifies us for a possible prebate.  Prebates are received as equally divided credits on our tax bills throughout the year.

"Considering the tax shelter"

In Colchester, for instance, property taxes are due in August, November and March (March 15, to be exact).  If a transaction closes between March 15 and April 1, that’s easy because the seller has already received back all the prebate they are due.  The prebate doesn’t affect the transaction.  Any other time during the year, the prebate is a predetermined cost to negotiate between a seller and buyer.  EXCEPT, between 4/1 and 7/1, every year, the prebate can only be estimated by the seller since the state won’t have the exact number available until 7/1.  Many times, this isn’t a huge deal if the seller’s tax situation hasn’t changed much from the year before (a ball park figure can be helpful).  To be more accurate, it’s best if the seller completes a worksheet, available at the VT Dept. of Taxes website.  You’ll need to have your forms HS 122 and HS 144 completed to fill out the worksheet.  Confused yet?

Why does this matter to anyone anyway?  Well, since I’m a Buyers Agent, I definitely want to know if my buyer is going to have shell out some extra coin to factor into the transaction BEFORE closing (like, way before closing).  And, my buyer would rather not wait until halfway through the closing process to find out, either.  Remember, no surprises before or during a closing is a good thing.  I hope you’ve enjoyed this simplified explanation.  It’s time for another cup of joe.

Well, summer is finally in full swing (kind of), and summer in Vermont is Real Estate season. The phones are ringing again and our cars are getting a welcomed workout.  In fact, things got so crazy around here that the Omega Real Estate team has added a new member.

We are proud to welcome Buyer Specialist, John Sortor, to Omega Real Estate Associates’ team.  Having enjoyed a diverse career in financial services (insurance and retirement planning), John has parlayed his experience into a successful real estate career.  Since 2006, he has specialized in the residential market as a buyer’s agent, and enjoys helping first time and experienced homebuyers navigate the ever-changing landscape of buying a home.

John spent his formative years outside of Boston, Massachusetts, graduated from Colby College in Waterville, Maine, and has lived in Vermont since 1993. Outside the marketplace, John enjoys the time with his wife, Denise, and two daughters, staying healthy through a variety of sports and home maintenance!

So enjoy summer while it lasts! Get out there and see some Real Estate. There are some amazing deals out there and we have just the man for the job…

Start your home or commercial property search at http://omegarealtyvt.com

It’s a beautiful location even when it’s frozen, and the price is great for a lot with lake frontage in Burlington.  Still, I don’t think it was shown once this winter.!!

The Setting sun on the frozen landscape makes me think of what is on its way in the very near future.

The lake is back to liquid (in most places) and the sun hangs high in the sky well past the drive home.  The sun is indeed setting on this frozen, barren real estate market and before we know it, both this property and the rest of the Burlington, VT market will emerge from the mud and will once again be warm, green and buzzing with activity. Are You Ready?

Speaking with a friend the other day (when it was warm), he said,

“You know, every year at around this time I get the feeling that I’m living the wrong kind of life. I find myself wishing I lived up on a wooded hillside with a nice sugar bush and a sugar house with a rusted metal roof.”

Personally, I can’t think of a worse time to move to the country. All I think of are potholes and mud.  But I know where he’s coming from. For me it’s the beach at the beginning of summer.

Anyway, it got me thinking about those fine folks who produce the maple syrup that I slather on everything from ice cream to sweet potatoes. I’ll put it on anything really; the food is just a vehicle to get the syrup into my face as efficiently as possible. I would use a spoon but I feel frivolous and somehow guilty.

As I was saying, I find myself wondering how many of those folks started out sugaring as a result of that very same feeling my friend gets every spring.  I wonder how many of them were stockbrokers or real estate agents who came up to Vermont (from NYC no doubt) for a little weekend getaway and found themselves stuck in Vermont.

As a real estate professional, I also find myself wondering about finding these folks a home with a sugarhouse and the acreage to support it.  It must have been a tough gig before the Internet.  Imagine not being able to search for keywords on the MLS?  Real Estate must have been so much harder.                                            (Maple Cell Phone)

I was up at one of our listings on Osgood Hill Rd. in Westford the other day and almost got sucked into the mud on the side of the road. It’s a fairly heavily traveled dirt road, so it gets rutted up pretty bad this time of year. Imagine having to cart someone around all day on the back roads without a cell phone and GPS?  No thank you!!

In the spirit of spring, technology and all things maple syrup, we have painstakingly scoured the Vermont MLS to find you all of the property listings in the area with an existing sugarhouse, sugar bush, or a view of Sugarbush ski area. Apparently there is no way to explain to the search engine that I didn’t want results pertaining to the ski area. Oh well, it’s better than getting stuck in the mud!

Click here for a Sweet Deal! Sorry, I couldn’t resist

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