Life Long Friends Through Real Estate

I first met Joe and Cheryl when I helped them find a home in Vermont. We had lots of lunches together and enjoyed seeing houses until we eventually found the perfect home. We just clicked. And we became friends.

I met one of their daughters, Jessica, during the house buying process. I loved her wise cracking personality and her love of life! Then I found out she was in recovery from breast cancer that she discovered at 21. When she found out she had cancer, she was an undergraduate at UNH and went through chemo and radiation and then graduated in the nursing department.

Jess became a nurse at Fletcher Allen in Burlington, ran a marathon to show she had beaten cancer, and married Riley. She and Riley enrolled in Nurse Anesthetist School in Maine. Then her cancer came back.

This past Saturday, July 23, I ran in the Susan G. Komen Race for the Cure in Manchester, VT. This race encourages participants to raise money to help cure breast cancer. This was the 8th year I participated. Last year, I ran in honor of Jessica. This year I raced in memory of Jessica. She passed away last November at 26.

In real estate we sometimes have relationships that are only professional. We help people buy or sell homes. And sometimes we become friends and they let us into their lives and we in ours. Cheryl and Joe will always be my friends.

This is why I love what I do every day.

The "I gotta have it" Factor

Most buyers want a market analysis to determine the value of the house they want to buy. The analysis looks at similar sold properties and properties that are actively for sale or pending sale. We adjust for square footage, number of bedrooms and baths, size of the lot, condition of the property and more. Sometimes the property is priced just right, sometimes it is underpriced (really!) and sometimes -- much of the time -- it is overpriced.

We bought a slightly overpriced house because we fell in love with it, were going to live here for many years to come, were buying in a down market, and saw the opportunity ahead of us to make a profit in the future. The other reason? I said "I gotta have it!"

When we walked in the front door, we knew this was the one. The house had great character from the warm color of the aged hardwood floors, to the fir woodwork, glass door knobs, and wainscoting. We bought the house and are still living in it. We LOVE it!

We understand that most buyers do not want to overpay for a house, and your mortgage company wants to loan you money on the value of the house. But if you are not sure if the house is worth the asking price but you "gotta have it", let the appraiser determine the value. Awhile ago, appraisals seemed to come in exactly at the purchase price, but not so much anymore. Appraisers have to justfy their appraised value to the banks. Then the underwriters get a chance to review the appraisal. Usually, if an appraisal comes in lower than the purchase price, the sellers will lower the sales price to meet the appraised value.

So, get a market analysis, discuss comparables with your REALTOR, and decide on the price that works FOR YOU. If there is an "I gotta have it" factor, so be it.

2010 vs 2011 -- The First Six Months

We have been busy in 2011 and our sense has been that the market is improving. But until we actually ran the numbers and compared average and median home sales prices from year to year, we had no confirmation.

Good news! The average and median prices for both single family homes and condos has gone up when comparing the period of January to June of 2010 to the same period in 2011. This data is taken from the Multiple Listing Service.

In 2011, the average sales price for a single family home in Chittenden County was up from $304, 229 in 2010 to $315,156 in 2011. This represents a 3.5% increase. The median price was up also, from $267,250 to $275,000 in 2011, or a 3% increase. Condo prices were up 2% on average and the median sales price was up 1.2%.

Days on market increased slightly in single family home sales from 94 average days on market in 2010 to 102 in 2011. Selling condos took significantly longer in 2011 -- 103 days compared to 79 days in 2010. It is important to remember that the tax incentive for first time buyers was in effect in 2010 and people were scrambling to make the buying deadline. Although the average and median prices increased in 2011, there was a decrease in number of sales compared to 2010, but that could possibly be attributed to the tax incentive.

There is also good news for Grand Isle County. Average sales price is up a whopping 14% from $247,356 in 2010 to $288, 459 in 2011. Median price is up 8.5% from $215,000 in 2010 to $234,900 in 2011. Interestingly, the average days on market increased significantly. It took 130 days average in 2010 and 185 in 2011. Of note is that the data is taken from 33 sales in 2010 and 37 sales in 2011. In 2006, there were 50 sales during the first six months and the number diminished through 2009. Currently, there are 199 homes listed in Grand Isle County, priced between $39,900 and $3,900,000!

For our friends in Franklin County, we looked at the following towns: Fairfax, Georgia, Highgate, St. Albans town and city, and Swanton. The average price was up 4% and the median was up 5%.

All in all, we are feeling good about the market. Sellers still need to pay close attention to pricing and have property showing ready. We say, "It's a price war and a beauty contest!" Buyers have many properties to choose from so it is important for property to look its best.

"Spider Tai Chi" in Old Basements

First of all, I've lived in old houses most of my life. I live in a 1927 house in Burlington right now and it has its faults but I love it just the same. This was a record wet spring in 2011 and in our basement, we had riverlets of water running from the back wall to a depression in the floor on the front wall. We pumped it out, ran a dehumidifier, and mopped the floor. That's just the way it was. And we accept that. We want our buyers to go into a house with eyes wide open too.

We see a lot of basements. Frankly, I think in an old house, it might make sense to go straight to the basement. Our buyers can fall in love with an old house and all its charm, details, nooks and crannies, and then the basement sinks the deal. So, why not find out up front? But this is not the way buyers want to see the house, looking at the ugly aspects first. So, we go all around the first floor and then to the second, all ooh-ing and ahh-ing.

Then it's time for the basement.

Here's how it can go with any one or all of the following scenarios: We open the basement door and we are hit with a musty smell. We crinkle our noses anticipating what we are going to find. "Smells wet," the buyer says. We cautiously go down stairs that are at an angle and have no railing to hold onto. The basement is dirt and muddy. Or there is a concrete floor and standing water. The foundation is stone and stones are falling out with crumbling mortar. There are signs of dry rot. We walk into a seldom used area and walk straight into a face full of spider webs. Yuck!

Here's how I deal with the spider/cob webs because I really hate getting them in my face. I take my hands and I wave them in front of my face. I "wave hands like clouds" as if I am doing Tai Chi but I do the waving in front of my face as I walk forward, not sideways like the Tai Chi movement. My clients think it is hysterical. I call it Spider Tai Chi. And it works. I actually prefer to do it with a file folder or paper in my hand as that catches the spider webs and not my hands. Cobwebs can be removed, but it sure gives us a creepy feeling when we walk into an invisible wall of them!

I love old houses, but I do not like old houses with wet basements, dry rot, standing water, or spider webs that wrap around my face when I walk through them!

Sellers -- check your basements for spider webs. Here's how to get rid of them: Take a broom and cover the bristle end with panty hose after cutting off the legs. Brush the broom around the basement ceiling, walls, and into what may appear like empty space. Then fold the panty hose over itself and take it off the broom and throw the hose away.

Buyers -- try to see past the spider webs and look at the most important parts of a basement: structure, electrical, plumbing and heating,and dryness. Your inspector will give you a good evaluation of the systems and structure if you choose to buy the house. Don't let the spider webs discourage you.

And check out the internet for Wave Hands Like Clouds -- spider Tai Chi works!

Seeing Old Clients -- Competitive Water Skier!

I love seeing old clients in social occasions.

In a client relationship, we look for houses or condos, sometimes for months, and our experience is built around buying a new home. We crunch numbers, look in damp corners of basements and the tops of hot attics, check out wells and septic systems, and put in offers to buy. We often get a lunch or two out, but our relationship is business. We often find out important personal details of their lives, but not always, since we are focusing on buying a home. Don't get me wrong -- we have lots of fun -- but we are assisting people in the largest investment of their lives, so we must always retain a professional relationship first.

After the home is purchased, we stay in touch with emails, letters and calls. But occasionally, we get to see our clients at parties and other social events. And we often find out interesting facts that we didn't know when selling them a home.

Last night we saw our clients Susyn and Denis at a party. They bought their home in Essex five years ago. Over the years we've talked about improvements to their home, gardens planted, rooms painted. They love their home and it was a great move. Then last night I found out that Susyn was a competitive water skiier! Not only did she compete, she competed in pyramid skiing! Yes, she climbed on the legs and then shoulders of her brother and father and skied around the lake! She can do trick skiing too -- spinning around in circles while on skis or on one ski. Wow! What a great fact to learn about a client. It brings us closer together because now we know more about Susayn and we can enjoy our relationship in a brand new dimension!

This is what I love about real estate. It is a business, yes, but it is an opportunity to make new, life long relationships. And every once in a while, find out that a client was a competitive water skiier!

Water in the basement? I'm Grateful.

Today there was a terrible downpour with a scary dark sky and lightning. All the time we were driving through the rain, I wondered if our basement was getting wet again. But then I realized I have a home and it is for the most part dry. The poor people living by the lake have been dealing with waves splashing against their homes (I saw this in Alburgh) and mold growing on sheetrock. This has been going on for months. So if I have a wet basement, I'll cope. The important items are up high. I'm grateful that it's just a wet basement.

Floor Plan Thoughts

I showed a property today that was a hillside ranch. The first floor was open and spacious with a master bedroom and fabulous bath with tiled floor, jacuzzi style tub and tiled shower. The problem was that the other bedrooms and full bath were on the lower level. Not only were they on the lower level, you had to walk through the living room, kitchen and hallway to get to the door to the lower level! This is a great floor plan for people who want their guests or teenage children far away, but not so great if someone has small children.

It made me think that when building a house, builders and designers should make the floor plan as flexible as they can for as many different household configurations. Masters on the main floor are very popular but I think there should always be the potential for a really nice master on the other floor also. Makes for more options.

For the same reason, having a bedroom on a third floor makes for a difficult floor plan unless it is for teens and guests. It's hard to think of all scenarios when designing a house, but be sure to ask your REALTOR about floor plans that sell.

Curb Appeal Made Simple -- or Complicated!

Here's the complicated way to create curb appeal:

I love my little cottage-style house in Burlington, VT. One of the reasons we left Grand Isle was the size of the property we had to take care of. We had 1.5 acres in Grand Isle and now .09 acres in Burlington. Not a misprint. It is really small.

I wanted to have as many flowers as I could on this property and make a good first impression to people visiting. First, we cut down the huge crabapple in the front yard that hid the beautiful lines of the house. ( I hated rolling around on the apples) Then all the scrubby bushes that hid the house were dug out. We rototilled all the grass and removed the turf. Then we dumped compost onto the front yard. A contractor installed a white picket fence and an arbor to walk through.

Then I planted the heck out of the yard.

Pathways meander through the small front yard and pass an herb garden. The path has creeping thyme growing between each bluestone step. Roses climb over the arbor and along the picket fence. there is a butterfly garden with bee balm, butterfly bush, and milk weed. Close to the house we planted a tree hydrangea, a bush hydrangea, and a variety of other interesting shrubs.

How did I do this on a budget? I asked everyone I knew to give me plants. Gardeners are happy to share and they always have to split their plants. I received an enormous number from my friend Marcia who lives in Jericho, VT. She has an acre of gardens and has many unusual species. She amazes me -- she knows the Latin names of flowers as well as the common names. She also knows to plant in odd numbers of three or more. So she gave me three of everything. I also bought flowers at Lowe's. The prices are low (no pun intended!) and easy on the budget.

Plant close together the first year as the garden will look full. You can share with others at year three. That's what I am doing now.

That is the complicated version of curb appeal.

The simple version? Put pots of geraniums lining either side of your walk way and more pots of annuals going up the stairs to the front door. Add hanging pots of annuals -- as big and full as you can find them -- from hooks by the front door. On either side of the front steps, plant some big, showy annuals. And then as soon as chrysanthemums are in the store, substitute the biggest ones you can find. If the front yard is large, put a nice chair under a tree and place a little table next to it. You can find these at a yard sale. Set this up as a little reading area.

The flowers will lead the buyer to the door and the chair and table under a tree will make them feel this is home. Think flowers, flowers, flowers! There can never be too many flowers!

Easy version or complicated? You decide!