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Blog :: 06-2017

South End residents seek calmer crossing at Howard Street

SOUTH END RESIDENTS SEEK CALMER CROSSING AT HOWARD STREET

Residents in the South End are pushing to make one of their busiest interections safer for all .The three-way intersection of South Winooski and St. Paul and Howard streets has long been a treacherous one for motorists, but the risk is even greater for pedestrians and bicyclists who have no safe way to cross. The Burlington Free Press reports that "there have been 33 crashes at the intersection in the past five years," according to Burlington-based engineer Corey Mack. To read more about how residents efforts to make the neighborhood safer, click here.

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    Burlington Prices Rise while Inventory Slumps

    “It’s just super stressful that there’s not anything out there to look at. If you say, ‘I want to be in this neighborhood’, then you might wait six months.” Nic Anderson explained to The Nest about the current Real Estate market in Chittenden County. Homes for sale have dropped more than 24% country wide in the last year. In Burlington, the number of single family homes for sale remains low but not far from last year with 41 single-family homes available in April compared to 43 that were available in April of 2016.  While inventory is low in Burlington, the average sale prices are rising high, 37% higher than last year to be exact. The median price was also up 35% from last year. Steve Lipkin stated, “Disparity between high demand and low supply is unusually severe right now, particularly for home buyers looking to spend $200,000-$400,000. “Under half a million [dollars] is as tight as I’ve seen it in the past 20 years.” The recession made people warier of taking on mortgages they couldn’t afford which has caused less buyers to be looking at huge houses with price tags over $1 million. For the luxury market, there are more listings than buyers and the homes that are on market are sitting for longer. Steve points out “buyers who are willing to drive a litter farther from Burlington can often find decent deals in Franklin County and can stay close to interstate 89 for commuting.” The average sale prices in Franklin County decreased almost 5% in the last year.  “You’ve got to think outside of the box in this market, if you’ve got a buyer.” Steve said, which is exactly what he did for his buyers Nic and Amy Anderson who were having trouble finding a home that suited their needs within their price range. There are about 2,000 new homes being proposed and built but most are to be rental properties not condos for sale. The new apartments will help keep renting affordable in the Queen City and hopefully can ease up the market for single family homes but it won’t be in the next year. If you’re hoping to move, you need a Realtor like Steve Lipkin, to think outside the box to get you into your dream home. As always, if you’re wondering about the current market or thinking about buying or selling, visit us at www.lipvt.com

    The Nest- Full Article 

    AirBnB regulations stall in VT Senate

    AIRBNB REGULATIONS STALL IN VT SENATE

    A bill that would have required AirBnB operators in the state to conform to regulations covering similar short-term rentals has stalled in the Vermont Senate, according to the May/June issue of the Vermont Property Owners Report. SB 113, proposed by Ginny Lyons and Michael Sirotkin, would have subjected AirBnB rentals to "other state regulations...including health, safety and sanitation" requirements that currently cover hotels, motels, bed and breakfasts and similar lodging properties. Some groups, including the Vermont Chamber of Commerce, believe AirBnB rentals receive an unfair advantage when they operate outside the regulations that face their competition. Burlington lead Vermont AirBnB rentals in 2016 "with 24,110 guest arrivals accounting for more than $3.1 million" in short-term rental income. 

    The full story can be viewed as a PDF by clicking here.

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      Cottonwood Crossing development to begin Williston build

      COTTONWOOD CROSSING DEVELOPMENT TO BEGIN WILLISTON BUILD

      A new mixed-use development will break ground in Williston this summer, atop 17 vacant acres near the intersection of U.S. Route 2 and Vermont 2A. The site was formerly a golf driving range. The Williston Observer said in a May 25th article that landowner Allen Brook Development will complete the project over five separate building phases, which in total "will consist of roughly 70,000 sq. ft. of commercial space and 200 residences" and include underground parking and a central square of green space. The full story can be read online here.

      Contact Steve Lipkin and the LipVT Team at 802-846-9575 or Steve@LipVT.com for any Chittenden County real estate questions or concerns.

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