What is a Real Estate Appraisal?

A real estate appraisal is the process of determining the value of a newly build property, the resale value of a residential property, or evaluating properties for investment purposes. The appraisal is a report of many crucial details about the subject property and creates comparisons to similar ones in the neighborhood.

How Do Real Estate Appraisals Work?

When an individual applies for a mortgage, the lender will require the property to be appraised by one of their certified appraisers. The cost, normally around $300 or higher depending on the property, is usually paid by the buyer outside of closing.

The appraiser will start the appraisal with a thorough physical inspection of the property inside and out. Also, they will look at courthouse records, recent real estate reports, and other numerous sources for more information on the subject property.

There are two different methods for conducting appraisals for residences:

The sales comparison approach is based upon comparing the subject property with a few similar homes that have been recently sold in the neighborhood. These are often referred to as the comparables. Analysis will focus on comparing specific bits of information, such as the square footage, style, age, lot size, and various other features of the homes.

The cost approach is mostly used for homes that have just been built and based upon the reproduction costs. This analysis will involve the appraiser estimating the cost to cover replacement of the property if it were to be destroyed. Land value and depreciation can also be added in to determine the value.

What is Included in an Appraisal Report?

The real estate appraisal report will contain:

1. An explanation of the method through which the appraiser ended up with the property’s value


2. Description of the size and condition of the house, along with any improvements that have been made recently and permanent fixtures


3. Accounts of any serious structural problems that were found through the inspection


4. Information about the surrounding neighborhood and recent market trends in the area


5. Comparisons with other residences surrounding the subject property that will support the market value appraised


6. Photographs, maps, or sketches of the subject property and its land

Overall, a real estate appraisal is more than just another cost or hassle added to the buying process. It is protection that will help everyone make informed decisions, so that a fair and reasonable price for market value can be formed.

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Ethan Allen Homestead Offers An Intimate Look At One Of Vermonts Founders

If there is one local attraction that is worthwhile for residents and tourists alike to take the time to explore, it is the beautiful Ethan Allan Homestead, located just a short drive from downtown Burlington. This well preserved 18th century estate was the home of Vermont’s flamboyant founder and folk hero, Ethan Allan, who shared the home with his wife Fanny after building it in 1787.

Ethan Allan is possibly the most influential figure in the development of Vermont and was among the earliest inhabitants of the region when it was still known as the New Hampshire Grants. As a backwoodsman, Allan joined the Revolutionary forces against Great Britain and led the Green Mountain Boys to victory as they captured Fort Ticonderoga during the Revolutionary War. Many Vermont citizens today honor Ethan Allan as a true folk hero, a self-taught philosopher and Deist who grew beyond his humble beginnings to become one of America’s most influential citizens during the birth of this great nation.

The Ethan Allan Homestead which served as his primary residence between 1787 and his death in 1789 offers an exciting and up close look at what life was like for Vermont settlers in the 18th century. Visitors can begin their tour of the property in a recreation of an authentic tavern from Colonial times, prior to moving on through the Allan House to get a good sense of the variety of skills that intrepid settlers such as Ethan and Fanny Allan had to possess in order to survive and thrive during Colonial times.

Guests are invited to try their own hand at some of the skills that the Allans had to use daily in order to make their lives both safe and comfortable. Throughout the tour, visitors are welcome to learn a bit more about Allan’s philosophies that led him to publish “Reason, the Only Oracle of Man” in his senior years.

The Ethan Allan Homestead also contains historical as well as archeological exhibits in addition to a variety of nature trails to enjoy a walk in the crisp and clean Vermont air. No trip to the Burlington area is complete without investigating this unique folk hero and his quaint 18th century homestead which preserves a fascinating slice of life as Vermont’s founding father Ethan Allan actually experienced it.

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The Flynn Center for Performing Arts Is A World Class Theatre in Burlington, VT

One of the many gems that make the community of Burlington such a desirable place to call home is the Flynn Center for Performing Arts. Since its early days as a home for travelling Vaudeville acts and a refuge for a community disheartened by war and depression, the Flynn Center for Performing Arts has been a true treasure for the artists and art lovers of Burlington, as well as a world-class venue for performers throughout the nation.

Class Acts

Throughout the year, the Flynn hosts performances by the world’s leading musicians and shining stars of the performing arts world. Catering to myriad tastes and genres, Flynn Presentations run the gamut from classic Broadway adaptations to folk music and contemporary jazz concerts. The not-to-be-missed event at the start of each summer is the Burlington Discover Jazz Festival, proudly presented by the Flynn.

Community Cinema

The Flynn’s rich history extends back to the era when “talkies” were just beginning to usurp silent films. At a time when people were searching for an escape from economic stresses during the Great Depression or eagerly awaiting news about loved ones fighting in World War II, the Flynn’s big screen was a portal for the Burlington community. Today the Flynn partners with public television to offer screenings of PBS’s award-winning series Independent Lens. Members of the community enjoy the privilege of viewing cutting-edge, socially current documentaries and films a full week before they air on television. The best part is that it’s all for free.

Arts Education

Not only is Flynn Center committed to enriching the Burlington community through arts education, but for more than two decades they have extended their support for the national arts scene. Since 1991 they have been affiliated with the Kennedy Center for the Performing Arts as a partner in their Partners in Education network. Through this partnership art teachers in local schools across the country enjoy arts education classes to further hone their craft. If you are a budding actress, singer, dancer or even an aspiring stand-up comic, the Flynn offers opportunities for you to learn, grow, and express your artistic side through classes and workshops.

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What Burlington Home Owners Should Know Before Refinancing Their Mortgage

Although refinancing a mortgage is seen as a good thing in a general sense, there are actually many details that should be considered before an individual or a business owner should think about refinancing a piece of real estate. In some cases, simply refinancing without learning these details can actually be bad financial advice. Below are a few things that Burlington home owners should consider before they pull the trigger on a transaction that large and final.

1. Will the real estate refinancing actually improve the financial standing of the borrower over the long term?

For the most part, a good refinancing deal will help the long term financial record of a home owner. However, the home owner must be able to keep up with the new payments. Also, creating a time frame that is too long can actually lower the long term credit score of a borrower if the probability of paying back the loan decreases within the mind of the computer that is doing the calculation.

2. What is the refinancing for?

Are you using refinancing in order to free up capital in order to start a business? Perhaps you are trying to extend your home. Maybe you need more money for school. However, you should understand if the finances that will change around be enough for your new endeavor.

3. What are the short term ramifications of refinancing?

There are short term financial burdens that a borrower must take on in order to refinance. Perhaps the most debilitating is the lump sum fee that will most likely be incurred when the refinancing takes place. If this short term payment places a burden on the home owner, then it might benefit the person to wait until he or she does not have to borrow the money to pay that fee.

4. What is the macroeconomic condition and is there a better time to refinance?

There are buyer’s markets as well as seller’s markets in the market for refinancing and simply by waiting a few months a home owner may actually receive a better deal from a bank.

via http://michaelblanchard.benchmark.us/2013/09/17/what-burlington-home-owners-should-know-before-refinancing-their-mortgage/

L’amante Ristorante Offers Superb Italian Fare In Downtown Burlington

A visitor to Burlington looking for good Italian food could do worse than L’amante Ristorante. Actually, it’d be pretty tough to do better: L’amante Ristorante was recently rated one of the best Italian restaurants in the United States, let alone downtown Burlington. The restaurant has a classic upscale atmosphere, with beautiful hardwood floors and white tablecloths in a clean, well-kept setting. The large windows open onto College Street in downtown Burlington, creating a well-lit setting.

It’s not the atmosphere that makes L’amante Ristorante a must-visit destination, though. In truth, it’s the food that keeps customers coming back. The restaurant’s chefs learned to cook in Tuscany and other cities in Central and Northern Italy, and their cuisine reflects these influences. Visitors to L’amante Ristorante should try the squash blossom fritters, grilled calamari, and potato crusted sea bass. Pizza lovers should try the margherita pizza, a thin crust pizza topped with tomato, fresh mozzarella, and basil leaves. Burlington natives often name this the best pizza in Burlington, and not without cause.

Besides the pizza, the squash blossom fritters are probably the most popular item on the menu. Stuffed with cheese, battered, fried, and then coated with truffle oil and honey, these fritters are a delicious melding of flavors. The contrast between the light, crispy outside and the delicious melted cheese inside is a taste that simply must be experienced. The squash blossom fritters are an appetizer, so they’re light and tasty without being overwhelming.

The chefs rotate their offerings every month or two because many of the ingredients are locally sourced. This means you can get a taste of Burlington as the seasons pass, and no visit is likely to be the same. The most popular items, such as those mentioned above, are offered year round. That means that you don’t need to worry about missing them when you visit.

L’amante Ristorante’s other claim to fame is its impressive wine list, composed mostly of wines from Italy. The restaurant owners are experts on wine, and you’ll find that they’ve put a lot of thought into selecting quality wines that pair nicely with their cuisine. The wine list does change frequently, likely because the producers are so small that they only produce a small number of bottles for each vintage.

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Scare Up History With The Queen City Ghostwalk In Burlington, VT

With Halloween fast approaching, a haunted history tour becomes a good idea. Everyone loves an occasional thrill and scare, and Burlington, Vermont offers up enough of them with its ripe history of spooky folklore. Follow a trail of ghosts, specters and haunted buildings that covers the entire town; follow along on the Queen City Ghostwalk.

In 2001, paranormal author Thea Lewis took a trip to Salem, Massachusetts, a town of eerie fame. In the 1690′s, a witch scare overtook its residents, and a hunt was on, culminating in the now famous Salem Witch Trials that saw the burning of several innocent men and women. Such was a place to inspire someone bent toward the scary side of things, someone like Thea Lewis.

She went on to create the Queen City Ghostwalk, a haunted tour of Burlington, Vermont, a town with its own supernatural claims to fame. Lewis introduces tourists and the morbidly curious alike to local history and legend and folklore, exploring the downtown area, waterfronts, cemeteries, and even the University of Vermont. Meet former students who fell victim to suicide, the spirit of a college student stalker, apparitions from the 18th-century, and even suspected UFO sites. Explore the mysteries of the Hermit of Champlain, the White Lady’s home, University of Vermont’s most deadly student, Vermont’s first private investigator, and Vermont’s most haunted restaurant.

The Queen City Ghostwalk manages to be more than entertainment alone, however; a tour through the supernatural history of Burlington touches on the overall history of the town as well. You therefore have an attraction for historical buffs, in addition to fans of the spooky.

Visitors and tourists can follow one of four paths at a time: the Darkness Falls Tour, the Wicked Waterfront Tour, Graveside Gatherings, and the Ghosts of UVM Tour. Advance tickets cost only fourteen dollars, and walk-up admission sits at a small sixteen. The Queen City Ghostwalk then makes for an inexpensive way to explore the city – a great day out for friends and family.

With her Queen City Ghostwalk, Thea Lewis brings us the spooky, eerie, and creepy side of Burlington, Vermont. Allowing children on the tour, it is one of the best family activities to undertake while visiting. As a historic tour, those brave enough to embark on the Walk receive both the fun of a fright, and education on a town ripe with history, mystery, and thrill.

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The Burlington Food Tour Wraps Up October 31!

Whether you are new to the area, or have lived here your entire life, chances are, you still have a lot to learn about Burlington and Vermont, in general. If you are looking for a fun and educational way to learn as much as possible about the area, the Burlington Food Tours are one of the best places to start.

You may already know that Vermont is one of the best places to live for enjoying local food, but participating in one of these tours will expose you to a huge variety of different, local foods that you may not even know about. Every Saturday between now and October 31, the tours meet at 12:30 at the East Shore Vineyards Tasting room located at 28 Church Street. As the tour begins, it will journey down to the Burlington Farmer’s Market where you will get to try homegrown produce and locally prepared cheeses, among other things. Make sure to leave room though, because the next stop is one of Burlington’s premiere gourmet restaurants where you will have the opportunity to try the chefs own special creation. In addition to tasting new foods, the local vendors and chefs are more than happy to take time out of their day to explain how their products are made and answer any questions that you may have.

The Burlington Food Tours are about more than just tasting locally grown and prepared foods, they are also a great way to introduce yourself and your family to the diverse culture we have right here in our own backyard. Joining one of these tours will be fun, educating, and an event that you will remember for years to come. The tour guides are local residents who know the area very well and, won’t restrict themselves just to introducing you to the taste of Burlington, but will also share with you some of the rich history that is unique to this area.

Make sure to come hungry and ready to walk, as the tour generally last about two and a half hours. General Admission tickets start at just $45 and Children ages 5-12 start at just $25 and should be purchased in advance, as the tours have a tendency to book up fairly quickly.

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Buying A Home After Bankruptcy In Burlington , VT

Beautiful Burlington is a city of immense culture and history. A freedom of spirit pervades the city, and you’ll see this light and joy in the residents. With an array of activities from ghost tours to theater shows and a host of different residents, you’ve decided that you want to move to this area. However, you have, at some point in the past, declared bankruptcy. What do you need to know about purchasing a home in this state?

First, you should realize that the road is going to be a bit challenging, and you should prepare yourself as thus. You also need to work on repairing your financial situation as much as you can. Bankruptcy is going to seriously affect your credit score, so you’ll need to look at the other factors that go into purchasing a home. Work to save up as much of a down payment as possible. If you have a very large down payment, you can still potentially be an attractive lender to loan entities.

The other factor in the equation is the amount of money that you make. Of course, many people wish they had a magical wand to increase their income! Still though, you can take some small steps to try to increase that total. For example, you might pick up extra work on the weekends or take on some shifts at fast food chains at night. Having this extra money can make you a better lender as well.

You should also look into programs that are specifically designed for you. Generally, you will have to wait one-and-a-half to two years before you are able to apply for a mortgage. However, some programs do exist for individuals who are in bankruptcy. Starting to consult with lenders now can mean that you have a clearer and more direct path in the future too. A professional credit repair agency could be of assistance, but you want to ensure that this step does not cause your score to plummet even more.

When you start to get serious about a house, you need to be reasonable with your expectations. You may not be able to live in a huge house in the nicest neighborhood right now. You should also be prepared to pay high interest rates because your credit score is low. Hopefully, you can refinance in the future when you are in a better state of financial affairs

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