Wednesday, December 29, 2010

First Night in Burlington Vermont

This New Year's Eve, celebrate First Night in Burlington Vermont! If you haven't been to a First Night in Burlington yet, keep it in mind this year. Where else can you pay $18 to get into so many, many venues? Okay, a few of the choice concerts at the Flynn Theater added $3 more to the night per person per event but it's laughable how much fun can be had for such a modest outlay.

For a brief history, First Night originated in Boston Massachusetts in 1976 by a small group of artists who sought an alternative way of celebrating New Year's Eve, creating an event where the consumption of alcohol is banned. First Night is an indoor/outdoor artistic and cultural celebration which occurs from afternoon until midnight. The intention of First Night is to celebrate that community's local cultures often showcasing music, dance, art, comedy, parades
and fireworks.

For more information including schedule, list of events, and to buy your buttons go to: First Night Burlington Vermont

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If you are considering buying Burlington Vermont real estate (or surrounding areas), please give me a call on my cell at 802.238.5256 or email me to discuss our real estate market and your options.

Thursday, November 11, 2010

National Real Estate Market Slow; Vermont MLS Volume Up

Burlington Vermont Real EstateI was interviewed last week for my views by the reporter from the VPOR. Below is the article in full...

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NATIONAL REAL ESTATE MARKET SLOW; VERMONT MLS VOLUME UP

National reports on property sales and prices tell a familiar story for the last months of the summer: a market varying from month to month and location to location, but in no hurry to recover from the market plunge of recent years. By comparison, Vermont’s market still looks better than most.

The National Association of Realtors (NAR) offered the most optimistic report, announcing on October 25 that sales of existing homes nationally rose in September by 10% over August (by 10.1% in the Northeast), “affirming that a sales recovery has begun.” However, the national median existing-home price for all housing types was 2.4% below a year ago, the NAR said (the median fell 1.4% in the Northeast).

As the previous article discusses, foreclosures – and homebuyers’ wariness of them – threaten to further suppress the market, according to the Associated Press. It reported that 23% of the Realtors it surveyed had clients who were declining to consider foreclosed properties, out of a concern that such purchases might be challenged on the basis of flawed foreclosure practices.

The Federal Housing Finance Agency reported on October 26 that U.S. housing prices rose 0.4% from July to August. But on the same day, Standard & Poor’s announced that home values overall had decreased from July to August, according to its Case-Shiller index of 20 major markets. An S&P spokesman called the report “disappointing,” noting that “home prices broadly declined in August.”

If these inconsistent, sometimes contradictory, reports prove anything, it is to substantiate Burlington-area Realtor Chris Hurd’s maxim that, like politics, “All real estate is local.”

Hurd, proprietor of Akin Associates, deals in residential properties in Chittenden, Addison, and Grand Isle counties, with a focus on Burlington, Shelburne and Charlotte. To his surprise, he said, 2009 turned out for him to be “a very strong year,” one of his best as a Realtor. 2010 has been a different story; he expects that when all is said and done it will turn out to be an average year, but deals are taking an unusually long time to gel.

Normally he’s wrapping things up in the fall after a busy summer – and the summer of 2010 was, indeed busy. “But this year,” he says, “everything is late. It’s primarily because people have spent months and months testing the market, testing the sellers, waiting for the fall and getting close to winter to see if they can eke out every last dollar from the seller.”

The sellers are in no hurry, either. “Vermonters are a funny group,” Hurd said. “They tend to hunker down and wait. They’re not going to give away the store.” The result is a kind of stasis.

Statewide, the real estate market has shown some signs of improvement this year. The number of single-family homes, both primary and vacation, sold by Realtors from January through September this year is up 7.7% from the same time period in 2009, according to the statewide MLS system. The single-family median price has edged up from $199,000 last year to $200,000 in 2010, according to the same report.

But, in his work, Hurd has seen a big change in the focus of market activity. He said that not long ago he was selling homes for $600,000, routinely. Now “the bulk” of his market comes in at $300,000. “If you get a buyer over that, it’s an anomaly,” he said.

Because of Vermont’s relatively better economy and relatively smaller foreclosure problem, Hurd sees prices remaining stable. But he does not think a robust recovery in Vermont’s real estate market is imminent. Historically, Vermont has had a tendency to lag behind the economic trends of the rest of the country, Hurd said, so he expects it to be some time before the market emerges from this depressed cycle and regains its former vitality.

Reprinted with permission from
Vermont Property Owners Report

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If you are considering buying Burlington Vermont real estate (or surrounding areas), please give me a call on my cell at 802.238.5256 or email me to discuss our real estate market and your options.

Thursday, October 28, 2010

Burlington Vermont Events for October 28 - October 30

Below are a few upcoming events coming up in the Burlington Vermont area...

Nightmare Vermont - South Burlington, VT

October 28, 29, and 30, 2010. 7 p.m. (and every half-hour through 10 p.m.) — The young whippersnapper in the walk-and-be-scared sweepstakes is Nightmare Vermont, which creates its nightmare not on Elm Street but on Picard Circle in South Burlington. Shows continue at the same times Thursday, Friday and Saturday nights. $10. 1-888-830-0888, www.nightmarevermont.org.

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The Wiyos and Red Molly -- Burlington, VT

October 29, 2010
Red Molly has consistently brought concert-goers to their feet with stunning three-part harmonies, crisp musicianship and warm, American roots music. They'll be joined by the Wiyos,a NYC band who really know how to spread the musical happiness quotient. Location: UVM Recital Hall, 384 South Prospect Street. Time: 7:30 p.m. Cost: $25. Information: 802-656-4455 or visit www.uvm.edu/laneseries.

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Lar Lubovitch Dance Company -- Burlington, VT

October 30, 2010
One of America’s most highly acclaimed choreographers and a part of the Flynn’s 1982 inaugural season, Lar Lubovitch famously broke new artistic ground with his pioneering use of the minimalist scores of Philip Glass and Steve Reich in the 1970s in works that influenced a whole generation of choreography and led to an appreciation of this new music. Lubovitch’s 1978 masterpiece North Star is possibly the most notable of these works. Glass’ swirling score of the same name provides an aural palate for Lubovitch’s abstract fantasia in a constellation of joined yet independent human bodies. Location: Flynn Center, 153 Main Street. Time: 8 p.m. Cost: $27 - $45. Information: 802-863-5966 or visit www.flynntix.org.

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If you are considering buying Burlington Vermont real estate (or surrounding areas), please give me a call on my cell at 802.238.5256 or email me to discuss our real estate market and your options.

Monday, September 27, 2010

Burlington Vermont Events for September 30 - October 3

Below are a few upcoming events coming up in the Burlington Vermont area...

State of Craft Showcase -- Burlington, VT - Now through September 30, 2010. Frog Hollow State Craft Center was the first designated state craft center and has served as a leader in the field. This exhibit chronicles trends in Vermont’s contemporary studio craft movement and the evolution of a state craft center through representative artists’ work. Location: 85 Church Street. Time: Monday - Thursday, 10 a.m. - 7 p.m.; Friday, 10 a.m. - 8 p.m.; Saturday, 9 a.m. - 8 p.m.; Sunday, noon - 2 p.m. Cost: free. Information: visit www.froghollow.org.

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The Khmer Arts Ensemble -- Burlington, VT - October 1, 2010. The Khmer Arts Ensemble—a 30-member company with 18 dancers, four singers, and eight musicians—upholds Cambodia’s profoundly moving and aesthetically complex dance tradition, an art form that was almost eliminated by the brutal purge of artists by the Khmer Rouge. The Lives of Giants is a testament to the human spirit and the universal urgency of art that tells the story of Reap, a 10-headed giant king of the Reamker Epic (the Cambodian version of the Ramayana). Location: Flynn Center, 153 Main Street. Time: 8 p.m. Cost: $23 - $38. Information: 802-863-5966 or visit www.flynntix.org.

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Built to Spill -- South Burlington, VT - October 3, 2010. Built to Spill were one of the most popular indie rock acts of the '90s, finding the middle ground between postmodern, Pavement-style pop and the loose, spacious jamming of Neil Young. Location: Higher Ground Ballroom, 1214 Williston Road. Time: 7 p.m. Cost: $17 - $20. Information: 802-652-0777 or visit www.highergroundmusic.com.

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If you are considering buying Burlington Vermont real estate (or surrounding areas), please give me a call on my cell at 802.238.5256 or email me to discuss our real estate market and your options.

Friday, September 17, 2010

Burlington Vermont Events for September

Below are a few upcoming events for September happening in the Burlington Vermont area...

National Street Rod Association Northeast Nationals

Date: Sept. 17-19, Friday 8:30 am - 5 pm, Saturday 8:00 am - 5 pm, Sunday 8:30 am - 2 pm
Admission: $14 Adults, $5 Children 6-12, Under 6 Free ($12 for NSRA members, Military Personnel w/ID and Seniors 60+)

More than 1600 rods, customs and collector cars will be on hand for the 17th Annual Northeast Street Rod Nationals Plus Sept. 17-19. In addition to the collection of vehicles, several commercial vendors and automotive experts will be on hand. Also, enjoy a trade show, arts & crafts fair, vintage auto parts swap, and daily entertainment. For more information about the NSRA, visit www.nsra-usa.com.

More Information: http://cvexpo.org/

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Mayhem 4 MMA & Thai Boxing

Date: Sep 18 Time: 7pm to

Location: Memorial Auditorium Price: $25-$50

United Fighting Arts Institute, LLC Presents Mayhem 4 MMA & Thai Boxing Premium Ringside $50.00 Back Ringside $35.00 Front Balcony $35.00 General Admission Bleachers $25.00 General Admission Balcony $25.00 (General Admission Balcony seats are the last 3 rows only). Prices Include 9% Tax, $1.00 Facility Fee, and $2.00-3.25 BO Surcharge Note: There will be no East Ringside Section at this event. Instead – there will be a beer garden right there by the ring! Vermont's premiere MMA & Thai Kickboxing event is back! Live, Sept. 18th, 2010 @ the Burlington Memorial Auditorium. Doors open at 6pm, fights start at 7pm. This event will feature an action packed split MMA & Thai Boxing Fight Card with the VMTA 155lb Title on the line! Fight fans, for the 1st time; this event will also feature the "Ringside Beer Garden"! Just what is the Mayhem all about? Answer: Fast paced, exciting, non-stop, full contact Mixed Martial Arts & Muay Thai action! The best MMA & Muay Thai fighters from across the U.S. will compete in this exciting event!– Doors open at 6:00pm, event starts at 7:00. Mixed martial arts: (MMA) is a full contact combat sport that allows a wide variety of fighting techniques and skills, from a mixture of martial arts traditions and non-traditions, to be used in competitions. The rules allow the use of both striking as well as grappling techniques, both while standing and on the ground. Such competitions allow martial artists of different backgrounds to compete. With the recent notoriety of MMA in the U.S. and it’s growing fan base around the globe it has earned the title of the fastest growing sport in the world today! Thai Boxing: (Muay Thai) is has long been the premiere form of stand up martial art. From its fierce roots as a battlefield martial art in Thailand, today it has bloomed into the country’s National Sport. Today Thai Boxing is practiced around the globe and attracts a huge fan base, it enjoys the title of the most exciting “stand up” ring sport in the world. It’s hard hitting, fast paced, action that no one should miss out on…come witness the Mayhem! Mayhem 4 is presented by United Fighting Arts Institute, LLC and all bouts fall under the direction of the Vermont Muay Thai Association. This event is Sanctioned by the USMTA. For More Information: http://www.mayhemvt.com


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Latino Festival Boat Cruise

Date: Sep 18 Time: 9:30pm to 12am

Location: Spirit of Ethan Allen III at the Boathouse Price: $15.50/adult, $11.25/children 10 & under Burlington Parks & Recs/Hermanos Productions Presents the Latino Festival Boat Cruise. Boarding Begins at 9:30 PM, Boat Departs at 10 PM and returns at Midnight. Every individual regardless of age requires a ticket - Open Seating Caribbean Cruise with 3 Decks - 3 djs dj Craig Mitchell/dj Papo Lopez/dj Hector Salsa* Merengue*Bachata*Reggaeton*Caribbean Mix*Latin Mix

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If you are considering buying Burlington Vermont real estate (or surrounding areas), please give me a call on my cell at 802.238.5256 or email me to discuss our real estate market and your options.

Wednesday, July 14, 2010

Burlington Vermont Fireworks - July 3, 2010

The Fireworks show in Burlington Vermont this year were spectacular!

Earlier in the evening (around 8:20) there was a special stunt air plane show which ended with some daylight fireworks. The stunt pilot dived repeatedly while releasing bright-colored smoke and the fireworks went up in the smoke.

As usual the main Burlington fireworks show started at around 9:30 and it was quite a show. I think the Burlington Fireworks show gets better each year.

Apparently they cost $40,000 for this year's show, $5,000 more than last year. The good news is that it doesn't cost Burlington Vermont taxpayers a dime as it's sponsored by 3 major sponsors: Pomerleau Real Estate, Price Chopper and Chittenden Bank. A big thanks to them for an excellent show!

As usual, there were many possible places to watch this year's show. Some places are:
  • Waterfront park
  • North Beach
  • Perkins Pier
  • The Boathouse
  • Oakledge Park
  • Battery Park
I personally prefer the Boat House in order to get as close as possible to get the best view, but you can get a good view at any of these Burlington locations.

Below are 2 videos of Burlington Vermont's 2010 Fireworks show...







Burlington Vermont Fireworks 2010

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If you are considering buying Burlington Vermont real estate (or surrounding areas), please give me a call on my cell at 802.238.5256 or email me to discuss our real estate market and your options.

Wednesday, June 23, 2010

Top Ten List for Burlington Vermont

A purely personal list subject to change (guaranteed!) of my favorite things to do in Burlington Vermont throughout the year:

10. Summer picnic pilgrammage to enjoy a sunset at Waterfront Park on Lake Champlain,

9. A show at the Flynn Theater followed by profiteroles for dessert at the "Trat",

8. An evening stroll down Church Street,

7. Finding a parking spot,

6. JazzFest in June,

5. First Night,

4. Burlington Bike Path,

3. Coming in by boat to the Community Boat House to hang out on the docks for a sunset, dinner, drinks or all 3,

2. Christmas Lighting Ceremony on Church Street,

1. 4th of July fireworks on the waterfront.

If you would like to add a comment or add your favorite Top Ten list, please do so by posting a comment here

If you are considering buying Burlington Vermont real estate (or surrounding areas), please give me a call on my cell at 802.238.5256 or email me to discuss our real estate market and your options.

Wednesday, April 21, 2010

10 Steps To Hunting for Burlington Vermont Real Estate With A Well Trained Eye

Monday, March 22nd, 2010

Burlington VT Real Estate

It sounds like a great listing – in your price range – in a good neighborhood – with features you’re looking for. First impressions mean a lot – but you find the bushes are overgrown, the front hallway is covered with tacky foil wallpaper, the kitchen cabinets are painted dark brown, the living room rug smells musty, and the hardwood floors have black water marks on them.

Should you head back out the door? Maybe. But to fully determine whether you should cross this house off of your list you’ll need to gather more information, and perhaps look past the blemishes to get a full picture of this house’s potential. How do you do that? Follow these 10 steps.

Keep them straight

Looking at a bunch of houses? With digital photography making it easy and inexpensive to record images, be sure to take a digital camera along, first taking a picture of the listing sheet so you can remember which pictures go with which home, and then key elements of each home.

Also, make a checklist before you visit the first house so that you can keep each of them straight. Here is a list of items you’ll want to include (rank each as either excellent, good, fair, needs repair soon, needs repair now).


  • Kitchen
  • Bathroom(s)
  • Roof
  • Windows
  • Furnace
  • Air conditioning
  • Floors (rate by each level of home)
  • Closet/storage space
  • Plumbing
  • Electrical (does it have 60, 100 or 200 amp service?)
  • Basement
  • Master bedroom
  • Siding
  • Garage

Then customize the list with your own “must haves,” for example, fireplace, master bath, walk-in closet, two (or three) car garage, dining room, open floor plan, eat-in kitchen, screened-in porch, large (or small) yard.

When narrowing down your home search, consider the following:


  1. Start with emotion, but end with facts. Buying a home is an emotional process. You often find yourself trying to determine if this is where you want to spend the next 10, 20, or 30 years of your life (and perhaps raise a family). It’s OK if your initial impression is an emotional one. But because the purchase can be the largest you’ll ever make, it is essential that you gather all of the facts necessary to make an educated decision.

  2. Look for good bones. Don’t get hooked on the decorating. The town or towns you are targeting for your home search likely have a handful of builders who have built a majority of the homes. Get to know the reputation of these builders. Then, before going to look at a home, find out who the builder was. You’ll want to be careful when looking at homes built by those with less than stellar reputations. Then, you need to learn to look past the furniture, wall colors, window treatments, and other decorating, and just look at the home layout and flow. New cherry cabinets and granite counters matter little if they are in the galley kitchen and you have a family of five. At the same time a family room with black walls featuring a mural of the moon on one side also matters little if it is big enough for your needs. Aesthetics are relatively inexpensive to fix – major construction is another matter.

  3. When looking at room layout, corners are key. Rooms with doorways in the middle of walls flow better than rooms that open in a corner. Remember that when looking for your dream home.

  4. Make sure the most expensive stuff works. The two most expensive rooms in a home to renovate are kitchens and bathrooms. If you’re stretching to be able to afford a home and still eat, make sure these two rooms don’t need renovating anytime soon.

  5. Take an inventory of what needs fixing. Good news: With more houses on the market than in the past several years, you’ll likely be able to look at more houses before making a decision to put in a bid. Bad news: That means it can get quite confusing to remember the details of each. Develop a list of things you like in the house as you walk through each, and also make a list of things that might need fixing (see "Keep Them Straight", right).

  6. Is there room for expansion? You might not be concerned with adding onto the home you’re viewing today, but what about tomorrow? Don’t necessarily exclude those that don’t have the room and a logical place to expand, but do understand that you will be limited in your options down the road.

  7. Does the basement leak? If you’ve been lucky enough to live in a house with a dry basement (or perhaps without a basement) it’s hard to imagine the havoc a wet basement can bring to your life. If you’ve ever lived in a house with a leaky basement or hate the thought of a foot of water surrounding your furnace, you’ll likely be sure to check that the basement doesn’t leak, or has a system that automatically removes water from it.

  8. What’s the condition of the home’s exterior? Does it need painting, or is it sided? Does it have painted brick that’s peeling? Is the aluminum siding chalking? Improving the exterior can be costly. Check the exterior walls carefully before putting in a bid.

  9. Landscaping: Does it look like a park or a landfill? Landscaping not only includes the grass, bushes and any gardens, but also the hardscape – the sidewalk, deck and/or patio. People are spending more time than ever outdoors and you’re likely no different. Landscaping improvements can be costly, but is one area in which homeowners often tackle projects themselves. If you have the time, energy, and expertise you can save money by doing some landscaping improvements. But costs can add up here – be sure to factor that into your decision and/or bid.

  10. Check the zoning, nobody likes surprises. Too often homeowners are horrified to learn that their tranquil neighborhood is being invaded by multi-family housing, a big commercial business, or a 24-hour convenience store. Before you put a bid on a house, go to the town hall, city hall, or county register of records and find out the zoning of all contiguous properties.

If you are considering buying Burlington Vermont real estate (or surrounding areas), please give me a call on my cell at 802.238.5256 or email me to discuss our real estate market and your options.

As always, post any thoughts and comments here on Hurd's The Word.

Thursday, March 18, 2010

Should I Get Prequalified When Buying A Home?

Wednesday, March 17th, 2010

Burlington Vermont

Why get prequalified and then preapproved for a mortgage before you begin your search for a home? Because there are people who will benefit from your preapproval: You, your Agent, and the seller from whom you eventually buy a home!

You: The most important beneficiary, of course, is you. One of the most common questions we get from users of this site goes something along the lines of "Please let us know how much house we can afford." We're stumped! Why? There are simply too many variables--credit history, income, debt, special mortgage programs and variations in qualifying guidelines between different mortgage types--to answer that question. The only sure way of getting the question answered is through prequalification. The mortgage prequalification step is a relatively simple one, but it is an important one. It begins the process of formally applying for a mortgage, and it gives everyone involved--especially you--a clear sense of the direction they should be headed.

Your Agent: By knowing what your financial parameters are, your Agent can spend more time looking for houses that "fit" and less time pursuing dead ends. No matter how much you might want a 4000 square foot home for $275,000, if your qualifications say $125,000, your qualifications say $125,000. When it comes to mortgages, "yes, but" doesn't carry much weight!

The Seller: Want to strengthen your bargaining position? Get prequalified. Want your offer to stand out in a case of multiple offers for the same house? Get prequalified. Look at it from the seller's perspective. If you had 2 offers on the table for your house, one from a fully prequalified buyer and the other from an "I'll get around to that soon" buyer--to which offer would you devote the most attention? Even if the prequalified buyer's offer was $1000 less, would you take the chance on the buyer that perhaps may not be qualified? When it comes to a seller evaluating offers, "a bird in the hand..." definitely applies.It is important to remember that the amount of mortgage you will qualify for is the maximum. It is the amount that the lender feels you can afford, but it is not necessarily the amount that you want to pay. It sometimes is advantageous to be conservative here. For example, if you qualify for a $100,000 mortgage and you have $15,000 available in cash for downpayment and closing costs, you are qualified to buy homes with a maximum selling price of $115,000. So as to not push yourself to the limit, you may want to look at homes that sell in the $100,000 to $110,000 range. Too many buyers simply rush off to the $115,000 level and some find themselves strapped when it comes time to purchase necessary items (such as draperies, additional furniture and lawn and garden tools, for example) or when they forget to factor in increases in monthly expenses (for example utilities and maintenance and repair costs).

If you need a referral to a professional local lender who can prequalify you in preparation for purchasing a home, please call or email me. I would be delighted to assist you. I can be reached on my direct line at 802.238.5256 or email me at Chris@ChrisHurdVT.com

If you are considering listing your home for sale or buying a home, condominium or other real estate in Burlington, Vermont or in Chittenden County, please give me a call on my cell at 802.238.5256 or email me to discuss our real estate market and your options.

As always, please feel free to post any thoughts and comments right here on Hurd's The Word.

Wednesday, March 17, 2010

Update: Home and Condo Values in Chittenden County, Vermont

Tuesday, March 16th, 2010

Burlington Vermont

Tha age old factors of condition, price and location are influencing our market more so now than in recent memory.

Just a few years ago, Sellers were enjoying multiple offers in all price ranges. Today, the part of the market that is humming along is everything essentially under $300,000. That is the sweet spot in the market for sure.

In Burlington, Charlotte, Colchester, Essex Junction, Essex Town, Milton, Shelburne, South Burlington, and Williston sales for all of 2009 show the average sale to list price ratio being at or above 95%. Of course, much depends on the three factors listed at the outset of this article but on average 95%.

Recent data compiled by Vermont Real Estate Information Network (VREIN), shows the condo market on average across all the towns comprising Chittenden County (i.e. Burlington, Bolton, Charlotte, Colchester, Essex Town, Essex Junction, Hinesburg, Huntington, Jericho, Milton, Richmond, St. George, Shelburne, Underhill, Westford, Williston) have shown prices increasing by 10.8% between the period from February 2009 until last month.

Conversely, single family homes on average across all the towns comprising Chittenden County have fallen 6.6%. The data shows that in February of 2009, the average sale price was $319,024. In February 2010, the average sales price had fallen to $297,874 with sales picking up.

Conventional wisdom suggests that the recent surge in activity has come as a result of pent up demand, low interest rates, and the tax credits made available to first time homebuyers ($8,000) and for repeat homebuyers who have not bought or sold their primary residence in the past 5 years ($6,500).

Against the national and regional averages Vermont continues to hold its own.The Mortgage Bankers Association's National Delinquent Survey found 4.8% of mortgages in Vermont were seriously delinquent or in foreclosure during the last quarter of 2009. Compare that to the national average at 9.7% or the New England region at 8%.

Vermont ranked 46th out of 50 states with fewest delinquencies and foreclosures initiated during the last quarter of 2009.

Of course, location weighs heavily on the average sale price figures. It is important to compare prices in the town and immediate neighborhood you are considering purchasing to best understand what a given house should sell for. The age old adage "all real estate is local" remains the watch word.

If you are considering listing your home for sale or buying a home, condominium or other real estate in Burlington, Vermont or in Chittenden County, please give me a call or email me to discuss representing you, our current market conditions and your needs/wants in a new home and community. I would be delighted to assist you. I can be reached on my direct line at 802.238.5256 or email me at Chris@ChrisHurdVT.com

As always, please feel free to post any thoughts and comments right here on Hurd's The Word

Armed with solid numbers, buyers and sellers alike can manage their expectations and the current realities of our local market.

Tuesday, February 16, 2010

Why Use A Buyer's Agent When Buying Vermont Real Estate?

February 15th, 2010

Burlington Vermont

To answer this question, let me begin by asking a question. When you are in a legal proceeding, would you have the lawyer representing the person sitting across the table from you represent you as well? The answer is so simple. Of course not.

Why then when buying a house or property which for many people represents one of the largest financial decisions of their lives would you utilize the Realtor who represents the Seller(s) to safeguard your best interests as the Buyer(s)?

In Vermont, we do not have "dual agency." Some states do allow this (where one Realtor represents both sides of the transaction while maintaining "neutrality") but for the life of me I do not understand why. It makes absolutely no sense whatsoever. There are simply too many places for conflicts of interest to rear their head.

In Vermont, Realtors must represent only one side of the transaction - either the Buyer(s) or the Seller(s). Often, Buyers aren't clear on this point. They see a sign in front of a house for sale or a listing online. Call that Realtor and utilize that Realtor to facilitate the negotiations of price, terms and conditions when that Realtor represents the Seller(s). Do you see where this is completely problematic? Be sure to ask if the Realtor you are speaking to is the Listing Agent. If so, thank the Agent and tell them you want representaion, hang up and find another Realtor who can represent you and your interests. Keep in mind, good listing agents are experts in finding out information from prospective buyers without you even being aware of it. They can ask questions that ultimately compromise your negotiating position. Thank them politely. Hang up and find a Realtor to be your Buyer's Agent.

When Sellers agree to list their property they agree to a commission which is paid to both the Realtor who lists the Seller's property and the Realtor who brings the Buyers to the table. A typical Realtor commission these days is either 5 or 6%. Thus, this commission is split in half (i.e. with either 3 or 2.5% going to the buy side Realtor). Buyers should not think because I am represented by a Buyer's Agent I am incurring an additional expense to pay their commisssion. The commission is already taken into account by the Seller(s) in their Listing Agreement with their Listing Agent. All Sellers are willing to split the commission between the Realtor representing them and the Buyers Agent representing the Buyer(s). Sellers do this to facilitate the transaction and in this market they are happy as can be to have buyers brought to them.

Let me further clarify. If there is no Buyer's Realtor involved, the Listing Agent consumes the entire commission of 6 or 5% with no split whatsoever. Now do you see why listing agents so love it when buyers call them directly? On a house that costs say $300,000 with a 6% commission, the Listing Agent would receive an $18,000 commission. If there is a Realtor representing the buyer(s), the listing agent would have to split their commissions.

There are many other reasons why you would want to utilize a Buyer's Agent when buying real estate in Vermont. Here they are:

  • Full Access To Our Regional MLS - Until you have made it clear to your Realtor you want to be represented by a Buyer's Agent and entered into that Agreement in writing the realtor you are communicating with is ALWAYS representing the Seller(s). They cannot give you information that otherwise comprimises the Sellers ability to get the most money for the sale of their home or property. This could include the number of days on the market as a great example. These days this is a critical number to know. Further, listing agents have this game they play when the "re-list" thier listings it sets the odometer back to zero for "days on the market" accuracy. Only a Buyer's Agent representing your interest will research the history of the property you are interested in buying to let you know exactly how many days that property has been on the market and with whom.

  • Negotiating Power - As your Buyer’s Agent, I will run a Comparative Market Analysis (CMA) to determine a prospective home’s Fair Market Value (FMV). In simpler terms, as your Realtor I will look at similar homes in the same neighborhood that have sold recently. This way, you will know whether or not the seller has their home priced fairly. If the home is priced over Fair Market Value, your Buyer’s Agent can present your “under asking price” offer with plenty of firepower – and a greater chance that the offer will be accepted. In addition, the terms and conditions of your offer are important as well.

  • Representation - As your Buyer’s Agent, I am there to make sure YOUR best interests are accounted for. With your Buyer’s Agent in your corner, you can rest assured that you’re on, at least, even ground with the home seller. Similarly, Listing Agents enter into a legally binding agreement that require them to ALWAYS act in the best interest of their seller(s). They are the seller’s “coach” and will make sure that their clients’ best interests are looked after.

  • Industry Contacts - It takes a lot of people to close a real estate transaction – Buyer’s Agent, Listing Agent, Loan Officer, Home Inspector, Property Appraiser, Insurance Agent, General and Sub-Contractors, and sometimes more! A good agent will come with a strong, professional closing team that has performed in the past, and will continue to perform. A transaction is only as strong as its weakest link – with your Buyer’s Agent & their closing team, you can rest assured that you will have plenty of support to make the buying process as smooth as possible.

  • Maximize Your Time - While driving neighborhoods is an excellent idea to help you decide which locations you prefer, it’s not a very efficient way to find your new home. Gas is expensive, and your time is valuable. Your Buyer’s Agent will listen to your needs, make fantastic suggestions based on your likes & dislikes, and provide you with a list of homes and communities that ALL match your wants & needs. Your Buyer’s Agent has helped MANY new homebuyers through MANY purchases, and will help you better organize your search & decision making process – saving you valuable time.

If you are considering listing your home for sale or buying a home, condominium or other real estate in Burlington, Vermont, please give me a call or email me to discuss representing you, our current market conditions and your needs/wants in a new home and community. I would be delighted to assist you. I can be reached on my direct line at 802.238.5256 or email me at Chris@ChrisHurdVT.com

As always, please feel free to post any thoughts and comments right here on Hurd's The Word

Thursday, February 4, 2010

2009 Year End Foreclosure Report for Burlington Vermont Real Estate

February 4th, 2010

Burlington Vermont

Vermont continues to have the lowest foreclosures of any state in the entire United States. Recent information reported by Bloomberg BusinessWeek indicate that Vermont has suffered the least with ONLY 143 foreclosures in the entire state for all of 2009!

RealtyTrac, in its monthly report from December 2009, reported that only 6 homes in all of Chittenden County (includes 17 towns around and including Burlington VT) went into foreclosure or 1 in every 10,479 housing units.

Put another way, The Vermont Housing Finance Agency (VHFA.org) reported from the Bloomberg.com website that as of January 29th, 2010, Vermont had the lowest foreclosure rate in the country at 0.04% of all homes in the state. The Bloomberg article went on to report that Vermonters are avoiding the foreclosure mess in part owing to traditions of "thrift, modesty and self-reliance - bolstered by laws that protect buyers and land".

In addition, the article went on to say "state and local laws discourage the kind of speculation that spurred development in some states, said Robert Hill, executive vice president of the Vermont Association of Realtors in Montpelier. "If a site for home construction is found to be on prime agricultural soil, the project is halted. The house must be built elsewhere, other land must be purchased and put in a trust as an offset, or the builder must go to court to seek clearance," he said.

Hill continued saying, “The permitting process is extremely difficult to maneuver in Vermont.” “Any developer or builder has to make a significant investment of time and effort. You just can’t come in here and throw stuff up overnight.”

Whatever the reasons, tiny Vermont (pop. 621,270) leads the nation in a category we can be extremely grateful for. With stringent environmental and zoning laws on the books for decades supply has been kept low. This enraged developers looking to make a fast buck during the go-go years. Hill added, as a result, "demand has outstripped the supply of housing. With no surplus of homes, prices didn’t collapse (like in many other states) when buyers decreased," Hill said.

If you are considering listing your home for sale or buying a home, condominium or other real estate in Burlington, Vermont, please give me a call or email me to discuss the market and your options. I would be delighted to assist you. I can be reached on my direct line at 802.238.5256 or email me at Chris@ChrisHurdVT.com

Armed with solid numbers, buyers and sellers alike can manage their expectations and the current realities of our local market.

As always, please feel free to post any thoughts and comments right here on Hurd's The Word

Friday, January 29, 2010

Shelburne Vermont Real Estate Annual Market Data & Trends for all of 2009

January 27th, 2010

Shelburne VT

Based upon information provided by the Northwestern Vermont Board of Realtors (NVBR) as of today for all of 2009, there were 85 single family residential and condominium units sold within Shelburne Vermont with a total sold volume of $34,810,350.

These numbers represent a 16.44% INCREASE in the number of units sold from the same time period one year earlier (1/1/09-12/31/09). Divide this number by the units sold (85) and you get an average sale price of $409,534. These numbers represent a 2.20% increase in the average sales price from the same time period one year earlier (1/1/09-12/31/09).

Average days on the market for all these 85 properties was 127 compared to 96 one year earlier or 32.29% longer on the market.

If you are considering listing your home for sale or buying a home, condominium or other real estate in Shelburne, Vermont, please give me a call or email me to discuss the market and your options. I would be delighted to assist you. I can be reached on my direct line at 802.238.5256 or email me at Chris@ChrisHurdVT.com

Armed with solid numbers, buyers and sellers alike can manage their expectations and the current realities of our local market.

Call me at 802.238.5256, email me at Chris@ChrisHurdVT.com or post your comments here at Hurd's The Word

(These figures include sold numbers for single family residential and condominium only in all the towns which comprise Chittenden County, Vermont only. All information deemed reliable but not guaranteed by Vermont Real Estate Information Network which supplies these figures.)

Charlotte Vermont Real Estate Annual Market Data & Trends for all of 2009

January 27th, 2009

Charlotte VT

Based upon information provided by the Northwestern Vermont Board of Realtors (NVBR) as of today for all of 2009, there were 29 single family residential and condominium units
sold within Charlotte Vermont
with a total sold volume of $19,493,197.

These numbers represent a 61.61% increase in the number of units sold from the same time period one year earlier (1/1/09-12/31/09). Divide this number by the units sold (29) and you get an average sale price of $672,179. These numbers represent a 10.84% decrease in the average sales price from the same time period one year earlier (1/1/09-12/31/09).

Average days on the market for these 29 properties was 137 compared to 106 one year earlier or 29.25% longer on the market.

If you are considering listing your home for sale or buying a home, condominium or other real estate in Charlotte, Vermont, please give me a call or email me to discuss the market and your options. I would be delighted to assist you. I can be reached on my direct line at 802.238.5256 or email me at Chris@ChrisHurdVT.com

Armed with solid numbers, buyers and sellers alike can manage their expectations and the current realities of our local market.

Call me at 802.238.5256, email me at Chris@ChrisHurdVT.com or post your comments here at Hurd's The Word

(These figures include sold numbers for single family residential and condominium only in all the towns which comprise Chittenden County, Vermont only. All information deemed reliable but not guaranteed by Vermont Real Estate Information Network which supplies these figures.)

Burlington VT Real Estate Annual Market Data & Trends for all of 2009

January 27th, 2010

Burlington VT

Based upon information provided by the Northwestern Vermont Board of Realtors (NVBR) as of today for all of 2009, there were 276 single family residential and condominium units sold within Burlington Vermont with a total sold volume of $70,919,923.

These numbers represent a 26.03% increase in the number of units sold from the same time period one year earlier (1/1/09-12/31/09). Divide this number by the units sold (276) and you get an average sale price of $256,956. These numbers represent a 11.16% decrease in the average sales price from the same time period one year earlier (1/1/09-12/31/09).

Average days on the market for all these 219 properties was 74 compared to 75 one year earlier or 1.33% longer on the market.

If you are considering listing your home for sale or buying a home, condominium or other real estate in Burlington, Vermont, please give me a call or email me to discuss the market and your options. I would be delighted to assist you. I can be reached on my direct line at 802.238.5256 or email me at Chris@ChrisHurdVT.com

As always, please feel free to post any thoughts and comments right here on Hurd's The Word

Armed with solid numbers, buyers and sellers alike can manage their expectations and the current realities of our local market.

(These figures include sold numbers for single family residential and condominium only in all the towns which comprise Chittenden County, Vermont only. All information deemed reliable but not guaranteed by Vermont Real Estate Information Network which supplies these figures.)

Chittenden County Real Estate Annual Market Trends 2009

January 27th, 2010

Burlington VT

Based upon information provided by the Northwestern Vermont Board of Realtors (NVBR) as of today for all of 2009, there were 1410 single family residential and condominium units sold within all the towns which comprise Chittenden County in Vermont with a total listed volume of $398,226,858. Compare that number to the actual volume of total sold properties at $383,158,490. The List-to-Sell Variance is $10,687 or last year's List-to-Sell Percent is 96%. The average sale price for all of Chittenden County was $271,744. These numbers represent a 1.00% increase in the average sales price from the same time period one year earlier (1/1/09-12/31/09).

Average days on the market for all these 1410 properties was 93 compared to 91 one year earlier or 2.2% longer on the market.

Armed with solid numbers, buyers and sellers alike can manage their expectations and the current realities of our local market.

If you are considering listing your home for sale or buying a home, condominium or other real estate in Burlington, Vermont, please give me a call or email me to discuss the market and your options. I would be delighted to assist you. I can be reached on my direct line at 802.238.5256 or email me at Chris@ChrisHurdVT.com

As always, please feel free to post any thoughts and comments right here on Hurd's The Word.

(These figures include sold numbers for single family residential and condominium only in all the towns which comprise Chittenden County, Vermont only. All information deemed reliable but not guaranteed by Vermont Real Estate Information Network which supplies these figures.)

Tuesday, January 26, 2010

Appletree Point is a Great Neighborhood in Burlington VT (Real Estate)

Burlington Vermont Real EstateJanuary 25th, 2010

Burlington VT

No other neighborhood in Burlington Vermont can boast about the infrastructure and amenities that Appletree Point and its Association provide. Not one.

Price points range from over a million to be right on the lake with a single family home, to the $350,000 to $600,000 range for single family homes not right on the lake, to high $200's for a townhouse. Appletree Point also has a well run Association with affordable cost effective association fees.

The list of amenities is long for this neighborhood. Sandy private beach on Lake Champlain with a gradual descent into the lake make it ideal for swimming or launching kayaks/canoes. Two swimming pools set at either end of the neighborhood cater to families during the summer months. The City of Burlington has a public park which includes a baseball diamond, several hardcourt tennis courts, a basketball court and toddler playground.

Appletree Point is located off North Avenue about 2.5 miles north of downtown Burlington. The road into this neighborhood is not a "through road." Coming into Appletree Point is THE destination. Thus, the vast majority of people coming into this area are its residents not people commuting through or just driving around.

The area is within a half mile of the Burlington Bike and Recreation Path which runs along Lake Champlain for cycling, rollerblading, running and walking in the milder months and walking, snow shoeing and cross country skiing in Winter.

If you are considering buying in Burlington be sure to consider this fantastic neighborhood.

If you are considering listing your home for sale or buying a home, condominium or other real estate in Burlington, Vermont, please give me a call or email me to discuss the market and your options. I would be delighted to assist you. I can be reached on my direct line at 802.238.5256 or email me at Chris@ChrisHurdVT.com

As always, please feel free to post any thoughts and comments about downsizing right here on Hurd's The Word.

Sunday, January 24, 2010

Free Home Energy Assessments Coming to Charlotte VT and Shelburne Vermont

January 22nd, 2010

Shelburne VT and Charlotte VT

The Vermont Community Energy Mobilization (VCEM) Project sponsored conjunction with the Charlotte VT Energy Committee, the Shelburne VT Energy Committee, Transition Town Charlotte and Transition Town Shelburne have ALL joined arms to provide free in home energy assessments. The goals of the project are to:

  • Achieve quantifiable reductions in home energy use;

  • Increase awareness and understanding by Vermonters of home energy savings opportunities and resources; and,

  • Demonstrate that a community-based, volunteer program can be a successful model for achieving home energy savings and raising awareness of Vermonters on home energy savings.

Last night around 30 volunteer (of which I am one) residents of Charlotte and Shelburne met for an evening of training at the Charlotte VT Senior Center. Efficiency Vermont is providing all energy saving measures free of charge. Energy saving measures will include offering compact fluorescent lightbulbs (cfl's), low-flow showerheads, water aerators for faucets, electric hot water tank wraps and pipe insulation.

Efficiency Vermont trained the volunteers last night to assist homeowners in identifying whether their home's heating is inefficient.

Lastly, the visit will include a "kitchen table talk" about energy saving opportunities and resources - specifically about energy conservation behavior and explaining referrals to services that are currently available. Efficiency Vermont offers several incentive programs, appliance rebates, and low-interest financing for additional energy efficiency measures of which most Vermonters are unaware of these savings opportunities.

If you are interested in receiving this free energy assessment service (only 80 will be available initially for both town so contact us soon!) or have additional questions, please email Suzie Hodgson of Charlotte at suzyhodgson@gmavt.net or Judy Raven of Shelburne at ravenvt@msn.com so we can put you on our schedules. Assessments will begin in mid-February and continue through April.

If you are considering listing your home for sale or buying a home or condominium in Burlington, Shelburne or Charlotte, please give me a call or email me to discuss the market and your options. I would be delighted to assist you. I can be reached on my direct line at 802.238.5256 or email me at Chris@ChrisHurdVT.com

As always, please feel free to post any thoughts and comments about downsizing right here on Hurd's The Word.

Wednesday, January 20, 2010

Burlington Vermont Real Estate - Downsizing Our Homes???

January 19th, 2010

Burlington VT

I was having lunch at the Brick Store in Charlotte Vermont the other day and overheard several conversations about residents considering whether to downsize their homes. I overheard others having this discussion while waiting for my latte at the Shelburne Wine and Coffee Shop in Shelburne VT a day later.

It's not uncommon to hear people talk of downsizing their homes at all these days. In fact, I think it's on a lot of people's minds.

Usually, people take this step once kids are off to college and the need for all that extra space diminishes. In addition, as we get older, we look for homes that are smaller or that fill our needs as we near retirement (i.e having the master bedroom on the main floor should a health impairment prevent climbing stairs.)

Moreover, I hear people contemplating the size of their homes as though they have some newly discovered social or moral awakening. "How much space do we need?", they ask. What is our 4,000 square foot home's carbon footprint? Is it wise to live in the country so far from services? Can I walk to the stores or the bank? How much time do I spend in my car each day driving back and forth to everything? Should we downsize to reduce our expenses? Should we downsize into a condo and buy a 2nd home in a warmer climate for winters?

And that list goes on and on and on...

Of course, determining what suits you is a process unto itself. It requires careful consideration. Particularly, in this real estate market.

If you are considering listing your home in and around Burlington Vermont for sale and downsizing into a smaller home or condominium, please give me a call or email me to discuss the market and your options. I would be delighted to assist you in this important next step of your life. I can be reached on my direct line at 802.238.5256 or email me at Chris@ChrisHurdVT.com

As always, please feel free to post your thoughts and any comments about downsizing right here on Hurd's The Word.

Thursday, January 14, 2010

The State of Burlington VT's Business Sector

January 13th, 2010

Burlington VT

What is the future for Burlington Vermont and business development? This and many other questions were raised and addressed recently.

Last week, I attended the 8th annual Business Summit sponsored by the Burlington Business Association (BBA) hosted at Champlain College. The summit brought business people from across the area together to hear three lecturers discuss the past, present and future for our city and to brainstorm in breakout sessions what needs to be done to keep Burlington vibrant, creative and growing.

Several statistics presented at the outset bear repeating and amplification. The unemployment rate in Burlington VT stands at 5.4% compared to the national average which stands at 10%. I found that to be a startlingly positive number. In addition, the vacancy rate for homes and residential rentals stands at 3.08% (amongst the lowest in the USA - AOL Real Estate). These figures are simply outstanding at a time of great difficulty faced by scores of other communities across the United States.

As the keynote speakers concluded, one in particular stood out above the rest for her outspoken and positive take on what is going on at the "street level" in Burlington and in the State of Vermont.

Liz Robert is the CEO of Terry Precision Cycles, a company which has pioneered several innovations aimed at improving the quality of cycling for women. Robert's list of business accomplishments is deep and she spoke with great confidence and reverence for what attracted her to very recently relocate her company from Rochester NY to Burlington VT.

Robert recited in short order a list of reasons why such a relocation at first blush made no sense financially. The costs of doing business in Burlington were significantly higher. She cited higher home prices, medical insurance premiums and tax rates as obstacles yet she continued to ask herself "should I relocate my company to Burlington?".

In the end, Robert concluded that Burlington VT offered a climate of "creative energy" that simply did not exist in Rochester NY. She added "people are passionate in Burlington about what they do both from a work, play and socially concious center. People here like to engage in debate as a community and ask the tough questions to help derive better answers and results. She continued underscoring that there is a "powerful visual aesthetic" that adds to the exceptional quality of life. People here have a greater sense of "purpose, mission, tolerance and an independent mindset" that is lacking in other places.

Lastly, Robert concluded her remarks by saying "moving to Burlington makes you work hard. You end up working more than just for the almighty buck. It makes you willing to defy the odds of taking a startup to success."

When asked about Burlington and the state of Vermont's reputation for lack of incentives for business owners she emphatically decried, "It's simply not true. The business community here has a really well-oiled machine at its disposal. The state of Vermont really steppped up to the plate to help get us here."

All of these factors, she reasoned, would help her attract and retain quality employees much more so than the vibe which existed in Rochester.

"Rebuilding economies is about entrepreneurship," said Robert. "It's about entrepreneurs taking the initiative and working with regulators. It's up to us. It's up to businesspeople like ourselves to step up to the plate to do the hard work."

Stay tuned here at Hurd's The Word for more information from the breakout sessions from the Burlington VT Business Summit as additional details are forthcoming.

As always, please feel free to post your thoughts and any comments about The State of Burlington VT's Business Sector right here on Hurd's The Word

If you are interested in purchasing a home in and around Burlington Vermont, please call me on my direct line at 802.238.5256 or email me at Chris@ChrisHurdVT.com

Wednesday, January 6, 2010

Burlington Vermont Celebrates First Night

January 6th, 2010

Burlington, Vermont

New Year's Eve celebration (called First Night ) in Burlington Vermont rocks! If you haven't been to a First Night in Burlington yet, keep it in mind to check it out next year. This year was the 27th year Burlington's First Night has been celebrated and it was better than ever. Where else can you pay $15 to get into so many, many venues? Okay, a few of the choice concerts at the Flynn Theater added $3 more to the night per person per event but it's laughable how much fun can be had for such a modest outlay.

For a brief history, First Night originated in Boston Massachusetts in 1976 by a small group of artists who sought an alternative way of celebrating New Year's Eve, creating an event where the consumption of alcohol is banned. First Night is an indoor/outdoor artistic and cultural celebration which occurs from afternoon until midnight. The intention of First Night is to celebrate that community's local cultures often showcasing music, dance, art, comedy, parades and fireworks.

This year's relatively mild weather brought out lots of revelers. Snow covered streets, sparkling Christmas lights twinkling on Church Street, smiles on passersby scurrying to their next event while chatting up what they had just witnessed created an energy of joy and community. You just couldn't help but feel it. All events are suited to young ones and the young at heart too. There truly is something for everyone.

This year my gang and I saw an amazing comedy act from a guy from Hardwick. Hardwick? Hello! This fellow was a former Cirkus Smirkus clown. He was wonderful. His act was really funny as he involved members of the audience from little kids to a coupla dads in his acts. Charming and hilarious with a bit of daring, he received a standing ovation.

From there we went down to the Flynn Space to hear Gregory Douglass. Unfortunately, the sound wasn't great and it was hard to hear him so that felt a little disappointing.

Next, we popped into Ali Baba's Kabob Shop for some felafel to take the edge off our hunger. The place was jam packed and the food was absolutely yummy.

Onward, we went to the Main Stage at the Flynn Theater to watch Kilamanjaro and the Unknown Blues Band with Sondra Wright kick it into high gear. Once that swing beat locked in, my sweetheart and I could contain ourselves any more and we danced five smokin' songs in the aisles. How much fun is that?

Hot and sweaty, we left the Flynn to take a Brazilian dance lesson with Sambudacada drummers who wrought their wild South American beat upon us. I was dripping. It was so much fun to see so many smiling faces, young and old side by side, all having such a great time.

Last, we wandered back into the refreshing cold air to ready ourselves to hear the Bluegrass Gospel Project. This group is amazing. Guitar, mandolin, bass, banjo, harmonizing vocals and a female lead singer with an alto voice as sweet as honey. She and they were so phenomenal it was hard to believe and they received two standing ovations. There were some folks behind me from Los Angeles California who were in utter disbelief at how great this band sounded.

All in all, we had tuckered ourselves out, felt satiated and ready to head home. But what a great way to have rung in 2010! Great memories. Ran into lots of familiar faces throughout the afternoon and evening. And best of all, no hangover to start the New Year.

Take my advice. Give First Night in Burlington Vermont a try next year (First Night buttons make great stocking stuffers). Dress warmly and in layers. You won't regret it one bit.

As always, please feel free to post your thoughts and comments about First Night here on here at Hurd's The Word or go to my website at Burlington Vermont Real Estate.

If you are interested in purchasing a home in and around Burlington Vermont, please call me on my direct line at 802.238.5256 or email me at Chris@ChrisHurdVT.com