Vermont Realtors Say War-Weary Homebuyers Seek Country Comforts
by Blanche Evans
Rural Vermont areas such as the Upper Valley, Waterbury, and Rutland County are attracting city-tired homebuyers, who find they can relax in the country, yet hit the highways and be close to city amenities when they want. Upper Valley "The Upper Valley includes some Windsor County communities like Hartford, Norwich, Windsor, Sharon, Vermont," says Realtor Hal Sheeler. "We have the natural beauty of gorgeous wooded landscapes, mountains, and rivers. Upper Valley communities also enjoy close proximity to Dartmouth College/Hanover amenities, to Killington and Okemo ski areas, and many recreational opportunities. He explains, "You can still find a home where you can't see a neighbor or live in a Hartford condo and be only 10 minutes from Dartmouth. Interstates 91 and 89 can get you "anywhere" - up to Montreal or down to Massachusetts. It's a wonderful place to live. The further away that you get from the Hanover/Dartmouth area, the better your chance of finding that dream farm, land, or home at a reasonable price. That seems to be changing, however. The stock market declines and war concerns sent a lot of people out looking for their rural roots, for places to escape urban jitters and find peace, and for investment. Professionals working in Hanover or Lebanon often live in other Upper Valley towns, finding not only that the prices are still a little lower, and they may be able to get wondrous views and a little more land." Waterbury "Located in between Stowe, Burlington and Montpelier on I-89," says Realtor Teresa Merelman, "the Waterbury area has seen increasing prices and strong demand. Waterbury's location right off I-89 has continued to make it a sought-after town. According to the 2000 census, Waterbury has a population of 4,915. Waterbury has 51.35 square miles of land. Currently there are 23 active listings. The average list price is $434,752 and the median list price is $369,000. Between 1/1/04 and 5/17/04, there have been 13 residential closings. The average sale price was $243,877 and the mean sale price was $247,500. The average days on market was 61." Rutland County "Located in Central Vermont, stretching from the spine of the Green Mountains in the east to the Lakes Region in the west, from Manchester in the south, to Middlebury in the north, Rutland County and the vicinity has a very active real estate market this spring," says Realtor Margaret Henkel, "With mortgage rates still at near all-time lows, buyers can get more for their dollar than ever. Homes priced to accurately reflect today's market values, that are in good condition, sell very quickly. Today's buyers are looking for homes that are well maintained and ready to move into. Because prices have risen eight to 10 percent each year for the last three years on average in the county, very few buyers are willing to purchase homes that look "tired" or in need of repairs." Henkel suggests, "We don't foresee interest rates rising until after the election in November. Furthermore, property in Central Vermont has not appreciated enough in the last three years to have created a "real estate bubble" as has happened in other parts of the country. When interest rates finally do rise in the future, real estate prices are not expected to go down in our area. For this reason, Vermont real estate continues to be an excellent investment and we are seeing a lot of investment purchasing." |
