ODE TO SPRING                                                                                        May 6, 2007

by Anna Whiteside

Spring has happened here in its usual spectacular fashion. Every day the same scene is a new scene. I never tire of spring in Vermont -- my absolute favorite time of year. It happens just before the black flies and after the snows have finally melted. The woods are seen as if for the first time -- it will never be this clear again. It is a pleasure to walk through them -- no berry bushes to scratch one’s legs and arms as there will be, starting soon. A few weeks ago accompanied by my canine companion, Summer, I snowshoed a long path behind my house. A few days ago we walked it, and it was still quite wet. Today it is very dry, and I am concerned that a forest fire could easily start. And I think, "Am I on the same path as the other day?" It all looks so different. Each time it is lovely and each day reveals new gifts, tiny light blue flowers, soon the May flowers, fiddlehead ferns, lamb's ear -- those variegated green leaves that are delicious in salad if one has the patience to pick them. Spring reveals itself quickly, and I go out to meet it each day with renewed energy and exhilaration.

WHAT’S HAPPENING IN OUR VERMONT MARKET                                   February 2007

I’ve been meaning to touch base with all my clients on an individual basis, but so much of the information I want to pass on is important to all of you so I thought I would just do an update on our website.

It’s no secret that we are going through a tough time now especially on a national level with the war in Iraq and our elected officials trying to get to a common ground.

On the national economic level the real estate sector is in the midst of the correction that everyone knew had to happen sooner or later. As expected those areas that have realized the largest increase in prices are the ones that are feeling it the most. Florida for example had so much demand and it responded with many, many new projects being constructed. As it generally takes at least a year and sometimes two to get all the permits and approvals, and the demand had already subsided, Florida is now experiencing excess inventory which in turn is driving down prices as there are always those who have to sell.

Up here in our neck of the woods where prices neither go up that high or down that low we are experiencing a less severe market correction with many prices coming down at least 5% and in some cases as much as 10%.

The late arrival of snow and the less than optimum snow conditions over the holiday season meant that many people who would have been exposed to the valley for the first time never made it up. Primary residence sales and interest in the lower price ranges seem to be picking up. Interest in condominiums also continues though at a slower pace and at somewhat reduced prices.

One of the salespeople here at VARE is of the opinion that this valley is so grossly undervalued that he has a hard time adjusting to the differences of what one gets for the same dollars here than in certain markets where property is so overpriced. I happen to agree with him. Yet, we also agree that it is a balancing act as it is always a question of supply and demand and so many of us moved here because of the quality of life – much of which has to do with less traffic and fewer people and a high regard for the environment. It is also true that those buyers who are attracted to the valley share those same values for the most part.

We are fortunate to have the three ski areas -- Sugarbush South, Mount Ellen and Mad River in the valley. Owners of both Sugarbush and Mad River reflect the values of the residents here and since Win Smith and company purchased Sugarbush and Mount Ellen, the three areas are even more in sync and residents are happy with their philosophy as well as the physical improvements.

Stay tuned in for our next report.

Anna Whiteside