Vermont Life Magazine Youth Exodus? » Vermont Life Magazine

Posted by nelrealty

Sep 27, 2013 4:28:38 PM

Vermont Life Magazine Youth Exodus? » Vermont Life Magazine.

For a long time the myth has been that young people are leaving the state, leading to economic, social, and cultural downfalls. Recently, Vermont Life Magazine has painted a different scene and with ample research found that, "Universally, the young people we spoke to said they prize Vermont’s intimate scale and interconnectedness, its natural beauty and easy access to the outdoors, its down-to-earth priorities and its indefinable vibe. Vermont has a bright future. Vermont is also admired. People want to live here, and with the Web and telecommuting, more and more of them can." They do point out that indeed many young people are leaving, but they are also returning to the state with the wealth and knowledge gained from travel and life experience. They said, "The youth-flight narrative, with its aversion to nuance and context, overlooks the flow of people who return in mid career."

If more young people are going to stay in the state, they need to be able to thrive in their career and find a home to match their lifestyle. Vermont Life Magazine looked at the case of Dealer.com, "everybody’s idea of what Vermont needs to stop young people from leaving the state." Dealer.com is, "a fast-growing business that provides digital marketing systems for the automotive industry, in a setting, with about 750 other employees, that has all the toys and perks of Silicon Valley culture: brightly colored warrens of open cubicles, organic café with espresso, on-site gym, rooftop solarium with putting green and a renovated building that, it almost goes without saying, is a model of green design." Sean Hurley, director of advertising and social products for Dealer.com said that, "It’s a mistake for anyone to think that there aren’t real businesses here making real money." In fact there are many examples of thriving local business in Vermont in order to keep young people in the state engaged and challenged within their careers. Luckily, there are also many opportunities to help first-time home buyers settle in the state.

With all of these opportunities at an arm's-length away, what young person wouldn't want to make a home in Vermont?

 

Please contact us for more information on buying a home in Vermont or consult the following information meant to educate first-time home buyers.

 

Further information for first-time home buyers:

"First-timers now represent nearly 30 percent of all existing home purchasers," said Ray Brousseau, executive vice president of a nationwide lender. "That's a big percentage, but it could be a lot higher because there are many ways first-time purchasers can finance with little down and little hassle."

The big barrier for many first-time buyers is cash. It takes cash for a down payment, and it takes cash to close. Lenders are generally looking for buyers with 20 percent down, but given that the typical home sells for more than $200,000, there are a lot of first-time homebuyers who have not accumulated the $40,000 or more that lenders prefer. The good news: There are many ways around the 20 percent requirement with traditional loan options. "It doesn't take a lot of up-front cash to buy a home today," said Brousseau. "FHA and conventional financing are all available with little down, while VA borrowers can qualify for mortgages that require no down payment." The way such programs work is that they substitute insurance for the 20 percent down that lenders would otherwise want.

Mortgage Assistance Plans

According to DownPaymentResource.com, there are more than 1,500 assistance plans administered by more than 1,000 agencies nationwide for would-be buyers, many aimed specifically at first-time purchasers. In looking at these programs it's important to understand what the term "first-time buyer" means. It typically does not mean someone who has never owned a home; instead the usual definition for program qualification purposes is someone who has not had title to a home during the past three years. This definition is important because it provides a way for people to re-enter the housing marketplace.

"Another important point about mortgage assistance programs is that many are specifically designed to encourage local home purchases by public-sector employees such as teachers, police, firefighters, nurses, and corrections workers," said Brousseau. "There are millions of people who qualify for such assistance."

The benefits available through mortgage assistance plans vary. For instance, borrowers may be able to get financing at below-market interest rates. Down payment grants may be available, essentially meaning that little or nothing down will be required. Another approach includes programs that offer tax credits. Mortgage interest is generally deductible, but a "tax credit" is arguably more valuable. With what are called "mortgage credit certificates" or MCCs, borrowers can deduct directly from their actual tax bill. For instance, if you have $8,000 in mortgage interest you might be able to directly reduce your taxes by $1,600 while the remaining $6,400 can be treated as an itemized deduction.

"Given low interest rates and a firming housing sector, this is a terrific time to consider entering the real estate market," said Brousseau. "With today's financing choices, many buyers can own their own home a lot quicker than they might have thought."

Reprinted with permission from RISMedia. ©2013. All rights reserved.

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Topics: Business, Vermont culture/events, Travel

Arianna Huffington's Secret to Success: Sleep

Posted by nelrealty

Jul 10, 2013 11:23:16 PM

[ted id=1044]

"Shut your eyes and discover the great ideas that lie inside us. Shut your engines and discover the power of sleep." According to Huffington, this is what's best for our personal health and well-being as well as what's best for the condition of the world. As a small business we are always looking for ways to improve the health of our employees and the community and if sleep is one simple step in the right direction then we will embrace Huffington's secret to success. Through doing so we hope to foster new and innovative ideas, engage with the local community and grow.


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Topics: Business

Hotel Vermont Vision

Posted by nelrealty

Jun 28, 2013 12:08:55 PM

[vimeo http://www.vimeo.com/69096731 w=400&h=300]

Burlington's new Hotel Vermont embraces the local surroundings and creates a place for visitors to feel at home. Their vision:

Vermonters are known for being independent, together. And like Vermont, Hotel Vermont is full of compatible contradictions. Located in downtown Burlington near the shores of Lake Champlain, we’re rustic and modern, local and global, natural and sophisticated, hand wrought and high tech. We give you space to yourself and room to gather. And we’re here to help you explore like a local, relax like it’s your job, and soak in every detail. From food fresh from the farm to your plate, to the glorious sunsets across the lake and ideas for exploring off the grid, we hope you’ll discover and enjoy our beautiful state as much as we do.

(http://www.hotelvt.com)


Feature image courtesy of: www.vtbrewfest.com
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Topics: Business, Travel