Blog :: 05-2006

Stay up to date on Killington real estate activity with regular updates and information on sales activity

Great family Killington ski home for sale

Have you been thinking about finally buying that perfect family ski home?  Here is a great opportunity to own a very special property, privately located at the end of a dead end, yet in the heart of the Killington basin.  This home was originally built as a modest family ski house, then expanded and modernized to become a wonderfully spacious up to date resort property. 

The house features 4-5 bedrooms, 3 of which with en-suite baths, granite kitchen, expansive deck, fenced in yard area, 2-car oversized heated garage, two additional out buildings, gazebo, and beautifully landscaped grounds.  The basement provides an enormous amount of storage space, as well as a great cedar closet.  New heating system, new roof, new gas fireplace, and expanded deck are just a few of the upgrades completed in the last two to four years. 

For more information and pictures of this property, check out this link to MLS #263785.

To view all properties currently for sale in the Killington Real Estate market, visit the website for Prestige Real Estate of Killington, representing the Realtors who are committed to providing "unrivaled customer service!"

Will I get my money back? - To remodel or not to remodel

Many sellers prior to listing their property ask, "Should I replace my appliances, cabinets, and or countertops?  Should I replace my carpet or flooring?  Should I paint?"  The real question is whether or not these efforts and investments will result in a faster sale or in obtaining a higher sale price for the home.  A flat answer of yes or no is impossible. 

There are so many variables involved in a buyers decision to make an offer and what that offer will be.  One of the key factors is the availability and condition of "competing" properties.  In a market where supply exceeds demand, the answer to many of the questions above is, "yes!"  If you, the seller, think the work may need to be done, it probably does.  You, most often, don't have the most critical eye.  After all, chances are you've lived with the condition of the property for some time and have become accustomed to it.  The reverse is true of a buyer approaching your property for the first time, especially when that buyer may be looking at many properties in the same price range.  That buyer will have a far more critical eye.

So, what work really should be done?  How much investment is appropriate?  Again, there isn't a clear cut answer.  The position I represent here reflects my recent impression of buyers' reactions when looking at "competing" properties. 

  1. Pay attention to "curb appeal" - The buyer's first reaction and interest in your property begins as they approach the outside.  Remove debris from your yard and/or driveway.  Keep the lawn mowed and keep the gardens weeded.  Flowers can make a great first impression.  These efforts are relatively inexpensive and will always payoff.
  2. Ensure your front door and exterior finish are in good condition - The exterior condition of your home is the buyer's first indication of your attention to general home maintenance.  This should be one of the first places to invest your "fix up" dollars and is likely to have the greatest impact on the sale price of your home.
  3. Remove clutter and clean your home - Leave your counters, shelves and furniture tops as clean and as clear as possible.   Leave as much space as is physically possible between pieces of furniture.  Remove some furniture if you have to.  You will need to expend this effort when vacating your home anyway and these efforts will make your home appear larger and more spacious.  In addition, buyers will focus on the space and not your personal items.  This is a "no brainer."  Do it now!
  4. Color makes an immediate impression - Does your home's color pallet reflect what was popular when it was installed and is that color pallet still popular today?  The answer may be yes if you selected relatively neutral tones that seem to stand the test of time.  However, many times colors are selected that are indicative of the year (or decade) they were chosen.  Do you remember, for example the popularity of "Harvest Gold" in the early seventies, or mauve in the eighties?  If your home sports fad colors that are no longer common, it implies to a buyer that perhaps you haven't maintained less visible operational items like plumbing, electrical systems, or heating systems in your home in many years as well.  Paint is a relatively inexpensive item in the spectrum of updating.  If you're not sure if your home needs a change, take some time and visit New Construction model homes or Design Centers and compare your color scheme with what is shown currently.  How does your home look now?
  5. Kitchen and bath modernization - This is one of the toughest "nuts" to swallow because of the expense involved.  However, these are some of the most noticed areas of the home and the easiest to compare with other properties.  I was recently told by a buyer who was browsing through pictures of condos for sale on the internet that one property looked much more updated than the other.  The truth of the matter is that both properties were refurbished with new appliances, furniture, window treatments, and carpet at approximately the same time.  The difference was that one had replaced their mid 80s vintage formica cabinets with wood and the other had not.  The result was that the buyer bought the unit with the updated cabinets.  The trouble with this update is its expense and no one can assure you that you will recoup your investment.  What is likely is given a scenario where a buyer is on the "fence" between more than one property, the one that made the updates is likely to get the first offer.

So, does remodeling pay off?  In many cases, yes, especially in a competitive market.  You may not recoup your entire investment but your property is more likely to sell than the seller who didn't make the changes.

For information on what's available on the real estate market in Killington, Vermont visit Prestige Real Estate of Killington's website and continue to watch this blog for further buyer and seller tips.


The Woods at Killington - latest real estate sale

Prestige Real Estate is responsible for the lastest sale at The Woods Resort and Spa in Killington, Vermont.  A two bedroom two and a half bath condo sold Friday, May 12, 2006 for $235,000.  This was the first sale of a two bedroom unit at The Woods since December 2005.

For information about other Woods units available, check out the listings at Prestige Real Estate of Killington.

Killington Real Estate Sales - 1st quarter 2006

The number of property sales in Killington in the 1st quarter of 2006 was down significantly from the same period last year with the greatest decrease in the condo market.  The average selling prices, however, rose in all sales categories, lessening the total market revenue impact.  The total market value of condo sales took the greatest hit (down 40%) while the value of home sales remained at about the same level as last year and the value of land sales increased (about 130%).

April and May are traditionally strong for new listings in Killington and that trend is continuing this year.  Already there are many more properties available to the buyer than in previous years and we believe that there could be an inventory of 150 or more properties listed in Killington when the summer selling season commences.  Therefore it is absolutely critical to list all properties in the most competitive manner possible.   Unlike the past several years, buyers may now have several properties to choose from.  Specific details concerning the property become more critical.  For example, if there are three similar size condos listed for sale in the same development, the buyer will focus on points like relative location, parking, and unit condition.  If differences are not perceivable, the lowest priced unit gets the offer first.   The Realtor's job is to get the seller the best price possible in the shortest period of time.  That starts by recommending how to best prepare the property for sale.  Then, establishing the right asking price is key. Improperly (i.e., overly ambitious) priced properties are likely to sit on the market and become stale.  Choosing the right Realtor becomes most critical in challenging markets.  Beware -- the right Realtor may not be the one that flatters you by recommending the highest asking price!

For more information about the Realtors in Killington who offer the best customer service, visit the website for Prestige Real Estate of Killington.

Lowest priced Woods unit on the market - MLS 258572

If you want to own at Central Vermont 's premier destination resort & spa, check out this 2-bedroom 2-bath condo located right across from the Spa building and tennis courts.  The Woods Resort & Spa offers the best amenities available in Killington, Vermont and this unit, priced at $189,000 is the lowest priced Woods unit on the market.  To see this unit, Woods V41 as well as other available Killington condos for sale, visit Prestige Real Estate's website.

The Woods Resort & Spa Killington - real estate sale

A three bedroom three and a half bath town home recently sold at The Woods Resort & Spa in Killington, Vermont.  The property sold for $295,000.  Prestige Real Estate of Killington is proud to be the selling agent for this three bedroom condominium sale.  For listing information for other three bedroom Woods Resort units see MLS 260435.