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Dear Friend of The Ericson Team |
 Greetings! Once again we hope this newsletter finds you and your family well. With daylight savings time our days are getting longer! We love having more daylight time and we know that spring will be here soon. Spring is traditionally a great time to sell a house and this year isn't any different. Contact us if you would like a free market analysis.
~ Karin & Dave |
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Market Update |
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How's The Market?
This is a question we are always asked when people find out we are REALTORS. We look at monthly, quarterly and yearly data to determine the health of the market. We also look at specific counties.
Looking at February of 2013 compared to 2012, grouping condos and single family homes together, Chittenden County is looking great. We don't say that lightly. The average sales price for February is up 13% over last year and the median price is up 15%. When we do the quarterly figures next month we will have a better picture of the market.
We also like to consider how many months of inventory are currently on the market - how long it would take to "absorb" all the houses and condos for sale on the MLS. That figure is about 5 ¼ months indicating neither a buyers' nor a sellers' market. However, the percentage increase in median and average sales price is hopefully a good sign of things to come.
The data in Grand Isle County is just too small for us to evaluate and form an opinion on the health of the market in the Islands. We will look at that county when we do our quarterly report next month. The Franklin County towns of Fairfax, Georgia, Highgate and St. Albans City and Town showed a decrease in the median sales price and an increase in the average. Days on market increased from 113 in 2012 to 137 in 2013. Our quarterly report will give a clearer picture in those towns as there is not significant data to draw conclusions.
When people ask us how the market is, we are going to say, "We are optimistic!"
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Mortgage Interest Deduction Cap Threat |
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From the Vermont Realtors call to action, requesting that we contact our legislators about the proposed Mortgage Interest Deduction Cap: "The House Ways and Means Committee is considering changes to Vermont's personal income tax that would cap the Mortgage Interest Deduction (MID) at $10-$15 thousand per year. The proposed MID cap would place a tax burden of nearly $8 million on Vermont homeowners each year.
In an effort to protect homeownership in Vermont, I am urging you to NOT support this proposal. Capping the Mortgage Interest Deduction would be financially detrimental to existing and potential Vermont homeowners who depend on the Mortgage Interest Deduction to make homeownership affordable. This year, Vermont homeowners are facing an increase in their property taxes. The proposed MID cap would be another significant tax burden on these very same homeowners. "
On Thursday, March 14, 2013, fifteen REATORS including Karin, descended upon the Vermont State House to discuss our feelings about the proposed cap. Karin was able to speak to Representatives Kesha Ram and Chris Pearson of Burlington. Kesha sits on the House Ways and Means Committee. In addition, she spoke with Louis Porter, the Secretary of Civil and Military Affairs, who spearheads the administration's agenda at the Vermont State House. All were exceedingly open to her views of the damage this cap would do to the already fragile housing situation.
Government Affairs Director for the Vermont Realtors, Chris MacDonald, discusses the efforts against the cap on his Facebook page. You may also email him at Chris@VTrealtor.com and he will advise you on how to get in touch with your Legislator.
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The Ericson Team of RE/MAX North Professionals is dedicated to making your real estate experience, whether buying or selling, a positive, rewarding and fulfilling one. Karin and Dave, along with their client specialist, Jean Ward, are ready to give 110% attention to helping you exceed your real estate objectives. 
