Real Estate Agent Vermont - Lauri Bessey - Dark Horse Realty - Dana Waters, Broker

Houselogic

2010-12-19T15:15:00.002-05:00

Thinking of selling your home? Or are you contemplating a home purchase? The National Association of Realtors has created a site to help you. Check it out and call me at Dark Horse Realty, I'll gladly help with your purchase or sale. http://www.houselogic.com

What you need to know before you apply for a mortgage

2010-05-13T20:52:00.002-04:00

Lender Checklist: What You Need for a Mortgage
- W-2 forms — or business tax return forms if you're self-employed — for the last two or three years for every
person signing the loan.
- Copies of at least one pay stub for each person signing the loan.
- Account numbers of all your credit cards and the amounts for any outstanding balances.
- Copies of two to four months of bank or credit union statements for both checking and savings
accounts.
- Lender, loan number, and amount owed on other installment loans, such as student loans and
car loans.
- Addresses where you’ve lived for the last five to seven years, with names of landlords if
appropriate.
- Copies of brokerage account statements for two to four months, as well as a list of any other major assets of
value, such as a boat, RV, or stocks or bonds not held in a brokerage account.
- Copies of your most recent 401(k) or other retirement account statement.
- Documentation to verify additional income, such as child support or a pension.
- Copies of personal tax forms for the last two to three years.

5 Factors That Decide Your Credit Score
Credit scores range between 200 and 800, with scores above 620 considered desirable for obtaining a mortgage.
The following factors affect your score:
1. Your payment history. Did you pay your credit card obligations on time? If they were late, then how late?
Bankruptcy filing, liens, and collection activity also impact your history.
2. How much you owe. If you owe a great deal of money on numerous accounts, it can indicate that you are
overextended. However, it’s a good thing if you have a good proportion of balances to total credit limits.
3. The length of your credit history. In general, the longer you have had accounts opened, the better. The average
consumer's oldest obligation is 14 years old, indicating that he or she has been managing credit for some time,
according to Fair Isaac Corp., and only one in 20 consumers have credit histories shorter than 2 years.
4. How much new credit you have. New credit, either installment payments or new credit cards, are considered
more risky, even if you pay them promptly.
5. The types of credit you use. Generally, it’s desirable to have more than one type of credit — installment loans,
credit cards, and a mortgage, for example.
For more on evaluating and understanding your credit score, visit www.myfico.com.

Reprinted from REALTOR® magazine (REALTOR.org/realtormag) with permission of the NATIONAL ASSOCIATION OF REALTORS®.
Copyright 2008. All rights reserved

FAQ's for Sellers

2010-03-28T11:08:00.005-04:00

A Frequently Asked Question by our listing clients:

“What should I fix, replace, or change in my home before I put it on the market?”

Chances are there are a couple of minor repairs and slight improvements you should do before we place a For Sale sign on your lawn. There are many ‘no-cost’ and ‘low-cost’ changes you can make.

The use of your home changes when you decide to put it on the market. Instead of that “lived in” look that we all have, the home needs to send a different message. You know what I am saying. I love my bright red guest room/office, but it’s not about me. It’s about the next owner of the home. A fresh coat of neutral colored paint will attract the buyer’s eye. This type of project is low cost and not overly time consuming.

In keeping with changing the use of the home from ‘yours’ to ‘theirs’, it is a very smart idea to begin packing. I know it may seem silly, but I am talking about packing any items you don’t use that often. Clearing out extras in your cabinets, closets and drawers gives a spacious organized look to your home. Make several piles. Donate, Storage and Toss. Now, GET MOVING. Taking down some of the keepsakes and family photos is also a good idea. Again these are no cost or low cost changes that can lead to a quick sale.

Some sellers ask, should I just disclose an issue that needs repair and let the buyers take care of it? Or should I fix it? In making that decision, you need to keep in mind that making the repair ahead of the sale may result in a higher sales price of the home. Buyers love to hear the words “recently updated” and/or “new” as they tour a home. Whether it’s a new appliance, energy efficient window, etc., this gives the impression that the home has been cared for.

Most home buyers are requiring a home inspection prior to closing. This clause in a purchase and sales contract, if worded properly, can allow the buyer to terminate the contract if the home inspection is not satisfactory to the buyer. Issues found in a home inspection can also cause buyers to ask for price reduction. Why chance it? If your home needs a few minor repairs (cracked window pane, leaky pipe, noisy bathroom fan) take care of it ahead of time.

Sellers have an obligation to repair or disclose any issues regarding health or safety.

Visit our site next month for a continuing discussion of how to get it sold!

Attention First Time Home Buyers

2009-06-13T19:20:00.009-04:00

Don't miss out on the $8000 First Time Home Buyer Tax Credit......did you know that you may be able to use this money as a downpayment if you utilize certain mortgage programs? Call your local banker today to find out which program is right for you.

First Time Home Buyer Tax Credit

2009-03-28T10:33:00.001-04:00

The homebuyer tax credit is one of 10 key provisions of the American Recovery and Reinvestment Act signed by President Obama into law on Feb. 17, 2009.

The bill provides for an $8,000 tax credit that would be available to first-time home buyers for the purchase of a principal residence on or after January 1, 2009 and before December 1, 2009. The credit does not require repayment. Most of the mechanics of the credit will be the same as under the 2008 rules: the credit will be claimed on a tax return to reduce the purchaser's income tax liability. If any credit amount remains unused, then the unused amount will be refunded as a check to the purchaser.

This should be a no brainer for folks just starting out. First time home buyers need to take advantage of this tax credit.

Click here to download the First Time Home Buyer Tax Credit form 5405

And here's just the home to use your credit on!

Nicely maintained 4 bedroom 2 bath home on Rush Meadow Rd. Long brook frontage on Willow Brook. Large, comfortable rooms. Enjoy the babbling brook from the enclosed porch. Major updates include: Siding, roof,furnace, windows, electric. Inexpensive to heat. Ready to enjoy.

It's the Time to Buy - Have you Heard?

2009-03-28T08:05:00.002-04:00

Finally! The reports are coming in. Interest rates are at an all time low, there is plenty of inventory, sellers are ready to talk, the local banks have money to lend, first time home buyers are looking at an $8000 tax credit. Now is the time to buy!

The phones are ringing here at Dark Horse Realty with both buyers and sellers coming out of winter hibernation.

One of our local banks has a 30 year fixed rate mortgage, zero points, 4.875%, that results in a qualified borrower being able to get a $185,000.00 mortgage for a monthly mortgage payment of only $979.04.

Check out this property......it is perfect for a growing family. Give me a call today to schedule a tour.

4 Bedroom Cape, Reading, Vermont
http://www.darkhorserealty.com/

Lauri Bessey
802-484-0195
Lauri@darkhorserealty.com

Those Pesky Heating Bills

2008-11-11T08:35:00.000-05:00

It's not a surprise that the first question most buyers I have met with lately are asking is "how much does it cost to heat this house?".

We are all pleased that oil prices have gone down a little bit......but I have been looking around my own home to see just where I can save a little on my electric and heating bills.

Here are a few thoughts my husband and I came up with:

replacing the air filter in your furnace frequently not only keeps your furnace working efficiently, but will also cut down on the dust blowing through the air vents
insulating the heating ducts keeps the air warm and will cut down on leaks while air is transferred from the ducts in to the rooms of your home
are your air vents or baseboards blocked by furniture or curtains? Keeping heating vents exposed will help the warm air circulate through the house
how old is your furnace? how old is your hot water heater? Our hot water heater was more than 15 years old. There have been such energy efficient changes in these products it is a good idea to see if you can get one or both replaced and START SAVING MONEY and the ENVIRONMENT!
I find myself sounding very much like my parents when I say, if you are chilly, PUT ON A SWEATER! I remember growing up in Claremont, NH, my father would keep the thermostat on 62 degrees. He'd always remind us that when it's 62 outside we all run around in shorts and t-shirts. So set that thermostat to a lower temp.....and put on a sweater if you are chilly! Who knew Dad was so smart.
Solar gain........Mark and I cut down a couple of trees that were blocking the sun coming in to our living room. We have achieved some wonderful solar gain. The house stays very warm during the day....not to mention we got a cord or two of wood to burn over the winter. We replaced the trees with some nice, but shorter, shrubs.
Weather stripping.......of course we can all check the weather stripping around our doors and windows.....re-caulking can be done if necessary. Check out your local hardware store for those window insulation kits.

These are just a few things everyone can do. How many more can you think of?

What to look for in a Realtor

2008-10-23T20:09:00.000-04:00

What should you be looking for in a Realtor when buying or selling a home?

First of all, is your agent a REALTOR® ? REALTORS® subscribe to a strict code of ethics and are expected to maintain a higher level of knowledge of the process of buying and selling real estate. An independent survey reports that 84% of home buyers would use the same REALTOR® again (according to the National Association of Realtors).

When selling your home, your REALTOR® can give you up-to-date information on activity in you market area and the price, financing, and condition of like properties. These are key factors in getting your property sold at the best price, quickly and with minimum hassle.

If you are buying a home your Realtor can refer you to reputable lenders, appraisers, and home inspectors in your area. Your REALTOR® can help you determine your buying power -- that is, your financial reserves plus your borrowing capacity.

Call me, I'd be happy to put these skills to work for you.

Summer in Vermont

2008-07-14T21:03:00.000-04:00

Where has the time gone? It is the middle of summer already.

The gardens are colorful and sweet smelling.

This sure is a great time to be buying a home in Vermont.

Check out this listing at the Orange Lake Ascutney Resort in Brownsville:

MLS # 2732544

Are you looking for an immaculate, comfortable home that is easily maintained? This is your home! Every detail has been thoughtfully taken care of, inside & out. 4 Bedrooms, 3 full baths, spa room, large laundry room, peaceful front porch, professionally landscaped gardens with irrigation system. So many great features I can't fit it all in! Call me today for a private viewing.
802-484-0195.

March

2008-03-02T11:57:00.000-05:00

I can't believe it is March 2nd already. Although, I have to say I am more than ready for Spring! I am not a skier or snowmobiler, however, I truly love the winter months. This morning is particularly beautiful here in Vermont. Bright blue skies and all the purest whitest snow covering fields, trees and roof tops.

Speaking of roof tops - Seems like everywhere you look folks are up on the roof trying to lighten the snow load and prevent ice build up. It's a must do this year. There have been a couple of news stories in our area about cave ins.

So, please, take care of the snow on your roof - and easy does it...........it's a dangerous undertaking.

Did you Know? The Truth About Underground Oil Tanks

2008-02-13T08:41:00.000-05:00

Underground Oil Tanks

Over the last few months, I have heard that more and more insurance companies are refusing to issue homeowner's insurance polices for properties that have an underground oil tank.

Several insurance agents have mentioned to me that the day may come when it is impossible to get such coverage.

The tanks, usually made of steel, are prone to rusting. Rusting leads to leakage which can lead to pollution of groundwater and wells. A huge concern for all of us.

Due to the potential problems with the tanks, many home buyers are putting a contingency in their purchase and sales contract requiring the seller to have any underground oil tanks removed before closing (this happened during a sale of mine last June in Weathersfield, Vermont). It was not insurmountable, but did take some extra effort to coordinate.

Any tank that is out of service for more than one year must be permanently closed.

The cost to remove a tank can cost anywhere from $1,000 to $2,500 depending on the location.

The State of Vermont does have a program which provides a grant of $1000 to qualifying homeowners to have these tanks removed. The program has a $100,000.00 limit per year beginning on July 1st. I am told the funds run out quickly.

The State of Vermont maintains a list of contractors who will remove the tanks.

For more information about the grant program or to get a list of contractors, you can contact the Vermont Department of Environmental Conservation at (802) 828-3888.