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Steve Lipkin

City Market Moving Forward with Plans for South End Store!

Burlington City Councilors unanimously voted to send necessary zoning changes to the Ordinance Committee which would allow City Market/Onion River Co-Op to open up a 2nd store on the corner of Flynn Avenue and Briggs Street in the South End of Burlington near Oakledge Park. The main reason for opening another store in the same city is to alleviate the pressure in the busy downtown store which opened in 2002 and has limited parking. The co-op's general manager says they hope to break ground in June 2016 and open the new store in June 2017. The new store will be 1/3 larger than the downtown store and they expect $12 million in sales during their first year. 

Check out the full story on burlingtonfreepress.comhttp://bfpne.ws/1OItvwh

Check out City Market here: www.citymarket.coop

We at Lipkin Investment Properties are very excited for the new City Market store to open as it will be located just a few blocks from our Hickok & Boardman Realty office and will give us another lunch and quick grocery stop option!

Looking to move to the Burlington area or sell your Burlington home, condo, or multi-family property? LipVT is the #1 real estate team for sales in Burlington for 3 years in a row now! Visit us at www.LipVT.com, call 846-9575, or email Steve@LipVT.com with any questions about Burlington Vermont Real Estate. 

 

 

 

 

 

VHFA 1st Time Home Buyer Down Payment Assistance Program!

Vermont Real Estate VHFA First Time Home Buyer Down Payment Assistance ProgramVHFA Vermont Housing Finance Agency

Governor Shumlin recently joined leaders from VHFA, the Vermont Legislature and the business community to launch a bold new effort to help the state's first-time home buyers. Each qualified buyer will receive up to $5,000 for down payment and closing costs. There is mounting evidence that the escalation of these costs in recent years, combined with other economic hardships lingering from the recession, are preventing many young Vermonters from buying their first home.

The new program will provide first-time home buyers who use a VHFA mortgage with up to $5,000 that needs repayment only if the home is sold or refinanced. "Because our typical customer is buying their first home and is eight years younger than the average home buyer statewide, VHFA is a great vehicle for reaching those households struggling most to save for a home," explained Sarah Carpenter, VHFA's Executive Director. Nationally the recession reduced homeownership rates by 15% among young people (aged 35-44) - far more than among older age groups, according to the Census.

View the full article here: http://www.vhfa.org/news/blog/governor-kicks-off-new-down-payment-assistance-program

This is an amazing opportunity for 1st time home buyers! For more info about the new down payment assistance program (called the "ASSIST loan"), please visit www.vhfa.org. There you will also find a list of participating lenders such as Vermont Federal Credit Union, Northfield Savings Bank and Union Bank.

This is also a great time for SELLERS if you have a home you think might make a good "Starter Home" for these lucky buyers! Contact us for a FREE Market Analysis to help determine the value of your home!

We at LipVT are your local experts when it comes to home buyers making their very 1st investment in real estate! Please visit us at www.lipvt.com or give us a call at 802-846-9575 to learn more about this dynamic marketplace and the terrific opportunities for buyers and sellers.

 

Champlain Housing Trust Gets DRB Approval for Old North End Development

Burlington’s Development Review Board (DRB) gave final zoning approval to a proposal by Champlain Housing Trust (CHT) for a new 42-unit development in the city’s Old North End, Burlington Free Press staff writer April Burbank reported on October 29th.

The unanimous vote was cheered by CHT’s director of real estate development Amy Demetrowitz, “I think it’ll just really improve the aesthetics of the neighborhood, and it’ll bring just some really critical needed affordable housing to Burlington.”

According to the Free Press article, “The project represents a significant redevelopment of the area between Bright Street and Archibald Street by adding a three-story apartment building, two duplexes, a building with three units and a total of 44 parking spaces….The project will be organized as a co-op with one-to four-bedroom units…”

The project will involve the demolition of three existing buildings on Bright and Archibald Streets. CHT expects to begin construction in May of 2015.

http://www.burlingtonfreepress.com/story/news/local/2014/10/28/housing-co-op-approved-old-north-end/18073937/

http://www.getahome.org/news/bright-street-co-op

Looks like more big and exciting changes to Burlington’s Old North End, (O.N.E.). As always feel free to reach out to Lipvt.com with any questions or comments!

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    Adopt-A-Drain Program Comes to Burlington

    As part of an ongoing effort to improve the city's stormwater management system, Burlington's Department of Public Works is trying an outside-the-box approach. Part community crowdsourcing, part old-school stewardship, the city will ask "Drain Defenders" to make sure a storm drain of their choosing is kept clear of debris, ice and illegal dumping. In exchange for their vigilance and elbow grease, Drain Defenders will be allowed to name the drain (Burlington's website stipulates only that the names be appropriate). 

    With over 2,000 storm drains inside the city limits, residents should have their pick. According to a Burlington Free Press article from October 24th,2014, approximately 10 drains had been adopted as of the afternoon of Thursday October 23rd.

    An overwhelmed stormwater system can contribute to property and infrastructure damage, pollution, and other public health concerns. I hope this innovative city project will help to free up the time and resources of Public Works so they can keep our great city running smoothly.

    What other applications could Adopt-A-Drain be applied to? What if the Bike Path was opened to a similar program?

    http://www.burlingtonvt.gov/DPW/ADOPT-A-DRAIN

    http://www.burlingtonvt.gov/public/adopt-a-drain/

    http://www.burlingtonfreepress.com/story/news/local/2014/10/23/burlington-seeks-storm-drain-watchdogs/17785287/

    As always, please reach out to the Lipkin Team for all your Real Estate needs!

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      Advice for Pricing Your Home

      Although it's great to do your homework before selling your home, don't rely on popular tv shows and websites to come up with your home's sale price. Pricing a home is not an exact science, there are many factors to consider. Your best bet is to "leave it to a professional" - a real estate agent or an appraiser. The process of determining your home's value involves several steps including a thorough walk-thru, a detailed comparative analysis and extensive market research. To learn more on this topic read "Pricing Your Home for What it's Worth" from the Sunday Boston Globe.

      The LIPKIN TEAM is happy to help you with this process and is here to answer any questions you have regarding Burlington area real estate.

      Potential Burlington Waterfront Developement

      What's the best use for the waterfront near downtown Burlington? Do you think it would be best used for restaurants, hotels, shops, a park and a scenic place to stroll or how about a 9-acre rail yard? As you know, we currently have the latter. A Seven Days article by Kathryn Flagg [2/29/12] on the subject makes it clear that this is no new discussion - nor are we any closer to a plan of action. One major problem: what to do with the rail yard? You can't just pick up and move that kind of infrastructure.
      BTV TrainYard

      BTV TrainYard

      Vermont Rail System (VRS) operates 350 miles of track and Burlington is the northern terminus. It's a very important hub for freight in the county and north. It would not only be expensive to move, but it would need a suitable place. Some places that have been proposed are Williston, Shelburne and the airport industrial park. The new Burlington mayor, Miro Weinberger, was quoted as saying, "You've got a use there that's not just going to disappear overnight." He went on to say that it would be a huge investment and chances are that's not going to happen at a time like this when finances are tight. There are plenty of other issues, too. Neighboring property owners  say the area is a maze of unclear property lines, easements and leases. Defining who owns what will be a challenge. How to develop the waterfront is another issue. Should it just be a park? Should condos and hotels be allowed that would block the lake view? Mayor Weinberger has suggested a top-notch, four-season marina with an expanded boardwalk, shops and boat slips. Other cities such as Chicago, Toronto and even Plattsburgh have moved their rail yards to develop waterfront areas. Moving the railroads out creates very valuable land. What will Burlington do and how will it affect property values? Let us know if you have any questions or comments. If you have any Burlington area real estate questions, be sure to contact us.

      Enjoy the Burlington Waterfront!! Multi Family Property with Year Round Water Views!

       Weve had a great summer in Burlington with some fantastic events and festivals down on the Burlington Waterfront. Everything from the 4th of July Fireworks to the Dragon Boat Festival to the recent Concert Series including Grace Potter. We are very fortunate to have such a wonderful place to hold these events; the waterfront park is such a huge asset to Burlington.
      From the boat launch & docks at Perkins Pier to waterfront drinks and dining at Breakwaters and Splash the Burlington waterfront is truly a magical spot.
       For Buyers wanting to be a short stroll to the waterfront park or downtown; with great views of the breakwater and Moran plant; look no further than our very Affordable Duplex listing at 50-52 North Ave. Live in one of the 3 bedroom apartments and collect rent from the other 3 bedroom apartment! A terrific investment with a wonderful waterfront view!
       

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      Why We Created a Website for Lipkin Investment Properties!

      As Ive worked on this Website, many clients, business associates, and friends have asked me the same question: Why create a real estate website focused on Burlington area Multi-Family Investment Properties, and why now? In my first blog post, I want to explain the goal of my site and how I hope it may assist current clients and future real estate buyers and sellers. When I joined Coldwell Banker Hickok & Boardman in 1998, I quickly realized that I enjoyed working with Multi-Family Buyers and Sellers. Specializing in investment properties allowed me to combine several aspects of my pre-real estate career capital equipment finance and restaurant owner/manager with my interests and background in construction. Ive been so fortunate over the past decade to work and live in a city I love, and to be able to help hundreds of clients achieve their real estate goals. My goal for this site, then, is not only to provide buyers and sellers with information on the latest listings, but also to provide resources for investors. This website (lipvt.com) was created to help investors analyze properties and keep informed on issues ranging from tenants regulations to zoning and code enforcement issues. As for the why now part of the question, I felt it was the right time to debut a Burlington-area Website with a focus on multi-family properties. The local market has weathered the 2008 slowdown, and appears poised to resume the steady solid growth of past decades. I believe the timing is excellent to invest in Burlington area real estate. So whether you are a first time buyer or a seasoned investor looking to shift/adjust or add to your portfolio the time to invest in Burlington area real estate is now. Thats not to say that Lipkin Investment Properties doesnt work with clients who are buying or selling single-family homes. My business partner Luke Clavelle and I have a passion for real estate and homes for sale, regardless of whether they are single-family homes or investment properties. Please take a look at our site, and if you have questions or would like more information on a topic, please contact me.