Blog :: 03-2013

Bidding War - SOLD in just 3 days! $925,000 - Austin Rd, Woodstock VT

We are delighted to announce that Snyder Donegan sold this fabulous residence just 3 days after listing it.  Two serious buyers expressed interest in the house listed at $950,000.  When the dust settled 5 hours later, we produced a $925,000 cash offer from a highly qualified buyer with no contingencies and 25 day closing.   Since the seller had other life-obligations and could not return to VT, we arranged for a property manager to oversee the move-out and final clean-up.  The house sold/closed in under a month with no glitches.  Needless to say, our seller was thrilled with the property marketing by Snyder Donegan Real Estate Group.

Mary Ellen McCue, was the listing broker for Snyder Donegan Real Estate Group.

If you are considering selling your property in the Greater Woodstock VT area, please give us a call.  We would be happy to consult with you.

 

 

Rising stock market and a low VIX will be good for Luxury Vermont real estate

With the SP500 and Dow approaching all-time highs, I thought it was a good time to revisit my favorite indicator of investor confidence, the VIX.  The VIX measures the forecasted volatility that is priced into options on the broad stock market.  What I like about the VIX is that it directly measures embedded vol in live/actual market prices of traded instruments, not some "theoretical" measurement, using statistical estimations based on past data to project risk forward.  When investors price out options to buy or sell the market in the next 30-60 days, the key part of that pricing is how volatile they think the market will be.  If they think the market will be volatile, then these VIX options get priced with a very high expected near-term volatility.  So when we are in a crisis, or people think things near-term for the stock market are likely to be more volatile, then the VIX goes up.  When investors are more confident that near-term the market is likely to be somewhat stable and unlikely to make a sharp move up or down, then the VIX goes down.  So a low VIX indicates that the "smart money investors" on "Wall Street" are feeling pretty confident about things.

So - you might be asking - what does this have to do with luxury vermont real estate?  Pretty simple: buyers of luxury homes are more likely to buy if they think their wealth is steady (safe) but also rising, and therefore are more likely to buy a luxury property or estate in Vermont or wherever else they are looking to have a second or retirement home.  While many of them do not even know about the VIX, they do know the market - and their wealth - has been steadily going back up, they know there have not been any big scary sell-offs in a while, and they do talk to their "smart money advisors" in New York, Boston, etc, who should be well aware of the VIX.  I would add to this that year-end layoffs were done as usual in December, and everyone still standing just had their bonuses paid in February.

A combination of near-record highs on the stock market, combined with a low VIX is a good harbinger for an improving climate for luxury homes in VT.  The economy is on the mend, markets are forecasting that, so in our view, it is not a question of IF high end buying will pick up, but a matter of when.

If you are looking to buy or sell luxury vermont real estate, give us a call.

- John Snyder

 

VIX 2013 03 05

 

 

SOLD! 1670 Church Hill Road, Woodstock $665,000

We are pleased to announce the sale of this beautiful and preserved 79 acre property and partially converted 1930 barn-house in Woodstock.  This is the second property we have put under agreement within weeks of listing, indicating both an improving buying climate in the greater Woodstock real estate market, and the effectiveness of our Company's marketing approach - which combines the personal competence of our agents with cutting edge world-class online marketing of our clients' real estate properties.  The buyer, a wonderful family from the Boston area - with several childrenand a love of outdoor hiking, snowshoeing, skiing and nature-watching - are excited about their ideas for completing the renovation of the barn-house while also enjoying the absolutely magical walking trails, fens, ponds, and fields - just 1.5 miles from the Woodstock village green.  Meanwhile, our seller is moving on to the next thing in her own fascinating and ever-evolving life adventure.  The property was originally listed at $695,000 and sold/closed in 11 quick weeks at $665,000.  Can't say I've ever had such an enjoyable time around a closing table, which felt more like a Thanksgiving dinner gathering than a legal transaction in a lawyer's conference room, with extended discussions about 1965 Ford Mustang convertibles, 1960s adventures in VW busses with Christmas tree out the top, and Austin Healey 3000's.   "Those were the days my friend..."

[John Snyder, Owner/Principal Broker of Snyder Donegan Real Estate Group, was the listing agent on this sale]

Trail View of Mt Ascutney