See the latest Northwestern Vermont real estate market report presented by NVBR below.
Mortgage interest rates ticked a bit higher in February, but remain below their February 2020 levels. Interest rates may rise a bit further in coming weeks, but according to Freddie Mac chief economist Sam Khater, “while there are multiple temporary factors driving up rates, the underlying economic fundamentals point to rates remaining in the low 3 percent range for the year.” With rates still at historically low levels, home sales are unlikely to be significantly impacted, though higher rates do impact affordability.
New Listings decreased 16.6 percent for single-family homes but increased 19.6 percent for townhouse-condo properties. Pending Sales increased 21.1 percent for single-family homes and 18.0 percent for townhouse-condo properties. Inventory decreased 62.5 percent for single-family homes and 66.1 percent for townhouse-condo properties.
The Median Sales Price was up 20.3 percent to $329,000 for single-family homes and 7.0 percent to $264,000 for townhouse-condo properties. Days on Market decreased 39.8 percent for single-family homes and 48.6 percent for townhouse-condo properties. Months Supply of Inventory decreased 63.0 percent for single-family homes and 66.7 percent for townhouse-condo properties.
For homeowners currently struggling due to COVID-19, government agencies are continuing efforts to help those in need. The Federal Housing Finance Agency announced they will allow homeowners with loans backed by Fannie Mae and Freddie Mac to receive an additional three months of forbearance, extending total payment relief to up to 18 months. Qualified homeowners must already be in a forbearance plan as of the end of February.
Looking for something to do during the colder winter months? From extreme winter sports to tranquil lower impact exercises, the Champlain Islands have an abundance of recreational activities waiting for us to try. When heading out on the ice always take precaution and check conditions before!
1. Ice Fishing
Lake Champlain is home to Vermont’s premier fishing destination and has many ice fishing opportunities. The shallow waters near the Sandbar causeway are a hotspot for northern pike! Whether you’re a seasoned pro or just out fishing for fun, this family fun winter activity is enjoyed by all ages.
The ice conditions near the causeway make for the perfect spot to try out this new extreme winter sport. Kite Wings are handheld wing sails for sailing on low friction surfaces such as ice or snow, strap on skates or skis and get ready for an epic workout.
When the weather sets up just right the ice on Lake Champlain especially at the sandbar makes for great skating! Whether you are figure skating or out playing pond hockey this serene scene takes it to the next level! Also, consider checking out if the rink in North Hero's City Bay is set up by Great IceVermont! This is located right on the frozen shore across from Hero's Welcome.
On a sunny day, take to the lake and blaze your own trail! Try snowshoeing or cross-country skiing and carve out your own path on the frozen shores of Lake Champlain.
Image source: Annie Gardiner
5. Sled the Sandbar in Style
Get your adrenaline pumping and sled Lake Champlain on your snow machine of choice. Be sure to check and make sure the ice is thick enough to safely support the vehicle you are using to explore the frozen lake.
6. Walk the Island Line Trail
The Island Line Trail is a 14-mile trail that spans across Lake Champlain from Colchester to South Hero. Bundle up and head to the Lake Champlain Causeway for a peaceful winter stroll. Walk the beautiful and historic path while enjoying panoramic views of Lake Champlain, the Green Mountains, and the Adirondacks. Better known as the Bike Path, you can access this trail from Colchester or South Hero.
7. Snowkite on the Frozen Lake
Weather permitting, snowkiting is an epic winter sport with opportunity for major air!
Looking to get your steps in? Knight Island is just a 40 minute walk from the North Hero Village! Knight Island State Park is located just around 1.7 miles from the North Hero Village on Lake Champlain’s Inland Sea. You can walk, grab your snowshoes, or strap into cross-country skis to reach the destination!
Image Source: Annie Gardiner
9. Warm up with a Sunset Bonfire
Grab your buddies and some local brews for an evening by the fire. We recommend trying out Kraemer and Kin or the newest addition to town, Two Heroes Brewery.
Last minute trip up to the mountain anyone? Luckily, by living in the Champlain Islands we have world renowned ski resorts right at our fingertips! While this last activity is not located in the Islands, Bolton Valley Ski Resort, is only a 45 minute drive from South Hero. Plus, they even have night skiing and riding!
Its incomparable state parks, close knit community and countless outdoor activities make the Champlain Islands region a wonderful place to enjoy year-round or seasonally. Learn more about life in the Lake Champlain Islands here.
March's hidden home went on the market in mid-February, just 8 days later it was under contract! Perched on 11 acres of mixed hardwood trees this Custom designed Contemporary Hillside Chalet is secluded on North Hero's Savage Point. The incredible Island home is located both covertly and conveniently, as it's only a five minute walk to reach Lake Champlain and the North Hero Village!
The property includes lovely seasonal views of Lake Champlain, a Beaver Pond, and deeded lake access in North Hero, Vermont. The energy-efficient 4000+ sq ft home features 3 large bedrooms plus a bonus room & 2.5 baths.You will love the open layout of the great room with western red cedar cathedral ceilings, Brazilian cherry floors, and rustic stone faced wood burning fireplace. The spacious well appointed kitchen includes new quartz countertops, island, stainless Kitchen Aid appliances, cherry cabinets, and walk-in pantry. Enjoy an inside look at this hidden Champlain Islands home.
At Coldwell Banker Islands Realty we feel very grateful to be a part of such a close knit community filled with individuals and organizations that go above and beyond for one another. As we know, the pandemic has brought a number of unforeseen challenges and many families in Grand Isle County have been impacted in some way.
We are proud to support organizations such as the Champlain Islands Empty Bowls and CIDER who are working to eradicate food insecurity in Grand Isle County. We urge you to join the fight and lend a helping hand to your fellow Island neighbors in whatever way possible. Listed below is a guide of local food organizations that currently are asking for donations or have volunteer opportunities.
1. Virtually Support Champlain Islands Empty Bowls While we surely missed the annual raffle, dinner, and handmade bowls, you can still help to decrease food insecurity in Grand Isle County. The Empty Bowls fundraising efforts have gone virtual this year however, the need is still great! During the month of February they were collecting funds for food organizations such as, CIDER, Food for Thought, and Grand Isle Food Shelf. That being said, there is no deadline to donate, just make your checks out to the Congregational Church of South Hero with "Empty Bowls'" on the notation line. You can send the check to Margaret Nowak, the Congregational Church of South Hero or drop the check or cash off at CIDER.
2. Drop off items at Food for Thought The Congregational Church of South Hero's Food for Thought has a Little Free Pantry set up outside the church on South Street for people to take what they need and leave what they can but are asking that you omit items that are in glass containers and canned goods during the cold months. Get Directions
Image source: Kaight Althoff 3. Volunteer at CIDER CIDER is in need of drivers! They are looking for help to deliver their "Neighborhood Meals" specifically with a demand for drivers north of the drawbridge. They also are relying on direct mail fundraisers since their typical personal fundraising can’t take place this year. Donate Today
Image Source: Annie Gardiner
4. Join the Grow for a Neighbor Campaign The South Hero Land Trust has launched the Grow for a Neighbor campaign! You can get involved by volunteering as a gardener or donating to buy seedlings. The produce yielded will be donated to a local food shelf and the seedlings are bought from local farms and will be used for the volunteer gardeners and to create potted plant packets for families at risk. Volunteer or Donate Today
5. Volunteer at Healthy Roots Collaborative If monetary donations aren't in the cards for you, consider volunteering at Healthy Roots. This collaborative works to strengthen the local food system in Northwest Vermont and serves Grand Isle County. They are seeking volunteers to harvest in the fields and deliver produce to the food shelves. Volunteer Today
Image Source: Healthy Roots Collaborative 6. Drop off goods at a Food Shelf in Grand Isle County CIDER has compiled a great resource with a list of the local food shelves throughout the Champlain Islands. If you are in need of food or are dropping off items we recommend contacting the pantry ahead of time to coordinate and gain insight on any COVID-19 restriction they may have. Find a food shelf near you
Image Source: Alex Rosenberger
Please consider getting involved by donating or volunteering to assist these food organizations that are providing relief to so many members of our community!
There are small changes that you can make inside your home to make it more appealing to potential buyers. While it may seem like a minor detail, investing your time to take care of the nitty gritty aspects such as, decluttering and rearranging pays off. Here are a five quick ways to revamp the interior of your home:
1. Ambient Lighting
Depending on the mood you are aiming for, think about the types of light bulbs you may be using. Try swapping your current lightbulbs out for warm, incandescent light bulbs for a homey feel. If you are trying to attain a bright and clean atmosphere in your home LED light bulbs will provide ample cool light.
Image Source: Coldwell Banker Islands Realty
2. Give your windows and curtains some attention
Consider replacing heavy curtains with a sheer curtain alternative. If new curtains aren’t in your budget, just be sure to open them to allow more natural light. While doing this, take a moment to observe your window panes. Have a great view? Make sure to wash your windows to enhance visibility and brighten up your interior space.
Image Source: Coldwell Banker Islands Realty
3. Declutter and depersonalize
Minimalism is key when preparing a home for a showing, start by removing any objects that might distract a home buyer. This includes clearing off your countertops, reorganizing any busy shelves, and removing personal photos. By depersonalizing the home, it allows potential buyers to visualize the space with their own belongings.
Image Source: Coldwell Banker Islands Realty
4. Staging your home
While staging doesn’t have to be extravagant there are many small tricks that can help the sale of your home. Try adding fresh flowers to the entryway, setting the dining room table, or rearranging the living room furniture to open up the space. Don’t exhaust yourself trying to make every room perfect, prioritize the most important areas and features of your home.
Image Source: Coldwell Banker Islands Realty
5. Capitalize on the senses.
Create an atmosphere through visuals and aromas that might resonate with a potential buyer. Begin by neutralizing any odor with a deep clean, then consider burning a candle or baking fresh cookies before a showing.
Image Source: Coldwell Banker Islands Realty
We hope you found these tips helpful! Consult your Realtor on additional techniques to help make sure your home is showcased in the best light possible.
.jpg)
.png)
-min%20(2).jpg)
%20V2%20(1).png)
-min.JPG)
.jpg)
