Relocating. Moving Up. Downsizing. Moving On …

Local vs. National Real Estate News

The first rule of real estate is: All Markets are Local. That means … if you saw it on the national news, that doesn’t mean it translates “exactly” to the Burlington and Chittenden County marketplace. National trends OF COURSE have an impact on our market … but in real estate, as in so many other ways, Burlington, and Vermont, are truly unique. That’s what makes this place so special … In addition to all the other ways in which Burlington stands out from the crowd (healthiest city, fittest city, best college town, best downtown, greenest state, great place for entrepreneurs … the list goes on), here are a few things to keep in mind when browsing national real estate news. Consider:

Vermont maintains the lowest foreclosure rate in the country. When national news proclaimed the foreclosure debacle and warned of neighborhoods decimated by crashing prices — falling by double digits, with homes losing as much as half their values in some major markets … Burlington’s price declines held in the single digits, and the worst case in Vermont would be the absolute envy of homeowners in Nevada, San Francisco, and Florida. (If you are reading the market updates on the home page of this blog, you already know that Burlington and Vermont are experiencing “recovery” ahead of the national curve .

Burlington (and Chittenden County) is considered one of the top markets to watch for signs of recovery. The first quarter of 2011 already brings evidence of a strengthening market, with average prices beginning to climb in Chittenden County and in particular in Burlington.

At left are some tools for keeping abreast of the national economic and real estate picture … but don’t forget to get the local perspective. I can provide you with an up-to-the-minute look at your town, your price-range, or your specific neighborhood’s real estate trends and activity — just call or email to ask me whenever you need to know.