Kathy O’Brien http://blog.kathyobrien.com Vermont Real Estate & Lake Champlain News Wed, 06 Apr 2011 19:27:10 +0000 en hourly 1 http://wordpress.org/?v=3.3.2 Vermont Real Estate Sales Look Bright in 2011 http://blog.kathyobrien.com/lake-champlain-real-estate-trends/vermont-real-estate-sales-look-bright-in-2011/ http://blog.kathyobrien.com/lake-champlain-real-estate-trends/vermont-real-estate-sales-look-bright-in-2011/#comments Wed, 06 Apr 2011 19:27:10 +0000 Kathy O'Brien http://blog.kathyobrien.com/?p=111 Vermont  real estate values were not immune to the economic recession of 2009,  but sales continue to recover this year.  Despite a roller coaster of changes in consumer confidence and the national real estate market over the past seven years, property sale prices in Chittenden County had a net increase of 27.3% during that time period. Lake Champlain real estate turned out to be a safe investment, even through the financial crisis.

In talking to my clients and colleagues, I have found that Vermont buyers and sellers are becoming more confident in the market day by day, and are really starting to negotiate and do business again. I am very excited about the 2011 real estate market. I look forward to meeting new buyers who are once again following their dreams of owning property in Vermont.

I recently worked with a young family from Massachusetts. They had always had Vermont in the back of their minds as an ideal place to settle and eventually retire. What may have seemed like a far-off dream soon became reality once they took action. After years of imagining, it only took four months and a few visits to decide to buy property now. A great choice of inventory, favorable interest rates, and some creative financing made the journey to closing a smart choice. With two kids just heading off to college, this couple has many years to enjoy their new property as a second home before retiring here. Why waste any time? There is so much of Vermont and Lake Champlain to explore and enjoy right now!

]]> http://blog.kathyobrien.com/lake-champlain-real-estate-trends/vermont-real-estate-sales-look-bright-in-2011/feed/ 0 Lakefront Property at its Best… Take it from a Survivor! http://blog.kathyobrien.com/lakeside-living/lakefront-property-at-its-best-take-it-from-a-survivor/ http://blog.kathyobrien.com/lakeside-living/lakefront-property-at-its-best-take-it-from-a-survivor/#comments Wed, 16 Mar 2011 20:15:32 +0000 Kathy O'Brien http://blog.kathyobrien.com/?p=90 More than any other property on the market right now, Harbor Island in Grand Isle reminds me of the awesome, life-changing experiences I had on Survivor. I felt lucky being invited back to participate in Survivor All-Stars. Imagine the lifetime of adventure and enjoyment that awaits the buyer of this unique island property.

You don't have to travel to the tropics to find paradise.

This four-acre island in Lake Champlain is connected to the shore by a causeway, offering a year-round living opportunity. With over 1650 feet of private lake shore including beaches and docks, summer will be blissful. An Adirondack-style home with large porches and stunning 180-degree views of the Green Mountains provides a cozy retreat in wintertime.

Northern Vermont and Lake Champlain have so much to offer. Downtown Burlington, Vermont, where you will find fine dining, shopping, and theater on the Church Street Marketplace is only 30 minutes away from this private island retreat. Traveling north, you could be in Montreal in an hour. Both Burlington and Montreal offer easy airport access for business travel or inviting guests to your new home.

Don’t miss this unique opportunity. Let me show you this amazing property and maybe you can invest in your own Survivor experience!

Kathy competes in the Final Challenge.

]]> http://blog.kathyobrien.com/lakeside-living/lakefront-property-at-its-best-take-it-from-a-survivor/feed/ 0 Invest in Lake Champlain Real Estate and Reap the Rewards http://blog.kathyobrien.com/lakeside-living/invest-in-lake-champlain-real-estate-and-reap-the-rewards/ http://blog.kathyobrien.com/lakeside-living/invest-in-lake-champlain-real-estate-and-reap-the-rewards/#comments Fri, 11 Mar 2011 19:31:17 +0000 Kathy O'Brien http://blog.kathyobrien.com/?p=81 Lake Champlain real estate is back in 2011! And prices are more reasonable than ever—finally! I’ve noticed that sellers are finally pricing their lakefront homes realistically after reading and hearing bad news over the past 24 months—even hearing stories at cocktail parties about the neighbor who took a loss on the sale of his home. But was it really a loss? Perhaps not! If you have lived in your home for over seven years, you have gained a profit; the declines only occurred in 2009 and 2010.

Like the stock market, real estate investments are cyclical. Prices go up and down, and if you stay in your house, just like owning a stock for 20 years, you’ll make some good money. The only avenue to speculate on real estate is through niche property, such as waterfront homes, bought at a good price. And this year, along with the next two to four years, will be an excellent time to buy a property on Lake Champlain or a lake-view home close to Burlington or in the Champlain Islands. Hang on to the lake property for 10 to15 years—either live in it or perhaps rent it—use the property tax as a straight line tax deduction, and you will reap a profit. I have seen it after 18 years in the business.

Real Life Success Stories

I had a client that bought a small cottage for $80,000 ten years ago and built an additional small, energy-efficient house on the three acres. Now the year-round property is worth approximately $500,000. The property needed a new septic ($20,000) and construction was approximately $200,000.

Ten years ago, another client bought a small summer cottage for $125,000 and it is now valued at $350,000.

In another prime example, a summer lakefront cottage on Thompson’s Point in Charlotte sold for $120,000 in 1996 and sold last year for $550,000 with renovations, but I don’t think the renovations were more than $100,000!

These opportunities still exist on Lake Champlain and on other lakes in Vermont. And it is a joy to experience a Vermont summer on a peaceful lake. Even if you only make it to Vermont for a couple of weekends a year, the rents on Thompson’s Point in Charlotte can be as high as $1,200 per week. A great investment!

Another worthy investment strategy is to find a short sale or foreclosure on Lake Champlain. The South Hero property was a short sale. This property was on the Broad Lake and had enough road frontage to build a small cottage on the three-acre southern portion to bring in rental income. Under normal conditions this house would have sold for $680,000, but sold at $525,500 in this case.

It’s a gift to live on Lake Champlain…

]]> http://blog.kathyobrien.com/lakeside-living/invest-in-lake-champlain-real-estate-and-reap-the-rewards/feed/ 0 Lake Champlain, Burlington’s Hill Section, and historic shipwrecks http://blog.kathyobrien.com/lakeside-living/lake-champlain-burlington%e2%80%99s-hill-section-and-historic-shipwrecks/ http://blog.kathyobrien.com/lakeside-living/lake-champlain-burlington%e2%80%99s-hill-section-and-historic-shipwrecks/#comments Mon, 10 Aug 2009 15:34:28 +0000 Union Street Media http://blog.kathyobrien.com/?p=35 The Lake Champlain Quadricentennial brought some renewed attention to the lake’s many shipwrecks. These Lake ChamLake Champlain Viewsplain, particularly Burlington, shipping disasters must have been easily viewed from Burlington’s Hill Section, where many of the historic homes here still feature “widows walks.” From these roof-top perches, captains could view their ships at anchor in Burlington Harbor and captains’ wives could view the safe return of their spouses.

Lake Champlain with Over 300 Historic Shipwrecks

Lake Champlain is home to more that 300 historic shipwrecks! A recent Vermont Public Radio series details these historic shipping disasters on Lake Champlain (History Under the Waves).

Lake Champlain Shipwrecks are a Historic Part of Lake Champlain

The Steamship Phoenix Burning

This fascinating series describes the sinking of several ships including one of the first steamboats in the United States. The Phoenix was a side-wheel steamer active during the early 1800s. It sank engulfed in flames after a pantry fire spread throughout the ship on September 5, 1819.  The ship sank just north of Burlington at Colchester Reef.

Burlington Lake View Homes are a Huge Part of Vermont Real Estate

Burlington Lake View Home

The tale of this disaster includes casualties, a theft, a lifeboat shortage, and the bravery of a substitute captain (the ship’s captain was home with the flu, his son filled in for him on this momentous occasion).  Learn more about the Phoenix here.

While none of these Burlington homes existed that fateful night, they do afford great views of the lake:

MLS No. 2907366 Burlington Lake View Home

MLS No. 2907238 Burlington Lake View Home

]]> http://blog.kathyobrien.com/lakeside-living/lake-champlain-burlington%e2%80%99s-hill-section-and-historic-shipwrecks/feed/ 0 What’s for dinner? You’ll find it at the Burlington Farmers’ Market. http://blog.kathyobrien.com/burlington-vt-historic/what%e2%80%99s-for-dinner-you%e2%80%99ll-find-it-at-the-burlington-farmers%e2%80%99-market/ http://blog.kathyobrien.com/burlington-vt-historic/what%e2%80%99s-for-dinner-you%e2%80%99ll-find-it-at-the-burlington-farmers%e2%80%99-market/#comments Thu, 30 Jul 2009 19:22:35 +0000 Union Street Media http://blog.kathyobrien.com/?p=8 Carrots Burlington Farmers MarketAugust 2-8 is National Farmers Market Week and the best place in all of Vermont to celebrate this organic occasion is the Burlington Farmers Market. This market is right downtown in Burlington’s City Hall Park. The food here is unparalleled in quality and freshness. From Digger Mirth Collective arugula to Jericho Settlers’ Farm grass-fed beef, you’ll find the best tasting food in the Champlain Valley right here in downtown Burlington.

The Farmers’ Market happens every Saturday 8:30 am – 2:00 pm (May 9 – October 31) and features crafts, prepared foods, and the freshest produce.

Farmers’ Markets are heralded for supporting farmers, strengthening local economies, and generally helping people stay healthy. The Burlington Farmers’ Market does all this with the flare of a European style street market.

Burlington Downtown - Five Sisters NeighborhoodHere are a few downtown Burlington homes
that are walking distance to the Farmers’ Market:

MLS No. 2908468 Burlington Downton
MLS No. 2908 Burlington Downtown
MLS No. 2907679 Burlington Downtown

]]> http://blog.kathyobrien.com/burlington-vt-historic/what%e2%80%99s-for-dinner-you%e2%80%99ll-find-it-at-the-burlington-farmers%e2%80%99-market/feed/ 0 Lake Champlain Quadricentennial has energized Vermont http://blog.kathyobrien.com/lakeside-living/lake-champlain-quadricentennial-has-energized-vermont/ http://blog.kathyobrien.com/lakeside-living/lake-champlain-quadricentennial-has-energized-vermont/#comments Wed, 15 Jul 2009 16:56:54 +0000 Kathy O'Brien http://blog.kathyobrien.com/?p=7 You will be enchanted to attend any or all of the events celebrating Lake Champlain. I admire and respect this lovely body of water. Many times I fly in over the lake and feel the peace and calm the waters give to our small city of Burlington, Vermont.

I’ve sailed on Lake Champlain for 25 years and still marvel at the beauty of the high peaks of the Adirondacks on the west and the distant view of Camel’s Hump and Mt. Mansfield on the east. Where else in the US do you have a fresh body of water 120 miles long and only 3 miles wide with mountains clinging on the horizon?  I am a huge fan.

You should participate in the celebration – this weekend July 17 & 18 in Vergennes – French Heritage days at the restored Opera House will be terrific.  And the Otter Creek Basen and other areas in and around Vergennes will be hopping with activities.  Check it out  at www.champlain400.com

And if you fall in love with the lake – take a peek at these properties on Lake Champlain!

Lakefront in Colchester – private!

Updated camp in Charlotte!

Champlain Islands!

]]> http://blog.kathyobrien.com/lakeside-living/lake-champlain-quadricentennial-has-energized-vermont/feed/ 0 Has the economic bubble hit Vermont Real Estate? http://blog.kathyobrien.com/lakeside-living/has-the-economic-bubble-hit-vermont-real-estate/ http://blog.kathyobrien.com/lakeside-living/has-the-economic-bubble-hit-vermont-real-estate/#comments Sun, 19 Apr 2009 23:16:45 +0000 Kathy O'Brien http://blog.kathyobrien.com/?p=5 The price category under $350,000 is active – not great – but active. And the homes over $550,000 are having a tough time. Buyers just keep waiting. And of course – the banks are toughon lending. But why don’t buyers simply write up offers? I don’t get it…..give it a try – sellers are anxious and it is a GREAT time to buy. The Bubble has not hit us – thanks to conservative building policies in Vermont. But sales are down by 20% in Chittenden County and sellers MUST be prudent about their list price if they want to sell in a timely fashion. BUT – Buyers – “go for it” – Trade and throw out some offers – you would be surprised – sellers will negotiate – they want to sell!!!

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