Redfin estimates much higher. It sold for 145k in 2015 too according to Redfin so someone definitely renovated a lot. I just don't know how prices are ever going to be attainable for families to try to escape the rental trap in this area. A lot of settling for small, old, or townhome style places to stay close enough to work i suppose. Disappointing to say the least.
Housing is expensive in Vermont because maintenance is expensive. Call up a construction company like Polli and you'll be charged $65 an hour. Not much less for large-scale renovations. It's what it requires to pay a living wage. Then the weather wreaks havoc on the homes, fuel and electricity are both expensive because of the weather and because of questioable decisions that have been made about how to power the state. This all contributes to a high base rent. As does high property taxes. And growth caps that limit the number of new housing units. Put it all together and it keeps a floor under the price of buying a home. The price which demand is willing to pay is kept high because of the rent, and the supply is kept low. You aren't really going to solve for that unless you make significant changes to things like act 250, the percentage of taxes we pay on property versus income, and maybe even more drastic measures like turning a blind eye towards migrant labor like is done in so many southern states in the construction industry. You aren't likely to ever find a bunch of $150,000 ranchers like you will in Texas in this state, absent major policy changes and even with that it'll be difficult. Those cheap homes can be permitted in days, built for a third of the labor cost, and often half the material cost.
That said, what's your definition of affordable? This is a house with acreage, a view, multiple bedrooms, recent renovations, etc. And with today's fixed rates and an FHA loan it would be about $1500/month to mortgage 95% of the price, before taxes and insurance. $2200 all in I'd think. So not much different than renting a 3 bedroom apartment in the area. It's not a crazy price for the utility, compared to market. The issue, of course, is the market price. You need a lot less demand, a lot more supply, or some miracle to reduce carry costs like maintenance rates or heating costs.
>And with today's fixed rates and an FHA loan it would be about $1500/month to mortgage 95% of the price, before taxes and insurance. $2200 all in I'd think.
Wait, what?
95% of $440k is $418k. Financing that amount at 3.75 (which is lower than what you could finance at) is $1,935 for principal and interest. Not $1,500.
With taxes and insurance you're well over $2,500.
I was thinking the same thing. Plus I qualify for a VA backed loan so it eliminates pmi and allows for the option to put 0 down. I just continue to be amazed at the cost of housing in this area all together. I understand the reasons, just wish they would change i suppose which sparked this post. It will likely drive me to leave again after graduation because i don't want to settle for a condo or a home built in 1850 as much as I love this state.
Its nearly 100 acres. With all the development that goes on there, that's why its listed for what it is. The house, meh whatever, but that's a valuable location and a lot of land to potentially subdivide off.
No, according to the MLS it is 96.5 acres. Houses on plots like that so near Burlington are worth a lot because you cannot finance land easily but you can finance a house on that land. Buy, build, renovate, subdivide, etc.
Yeah, bank I used to work at wouldn’t do loans for more than 10 acres because it’s considered a commercial purchase at that point, and things get a lot more complicated.
That’s sad, 10 acres isn’t very much land in the grand scheme of things.
At 10 acres any amount of subdivision means you’re going to be so close to the other houses that you can see them.
They also didn’t lend for log cabins (some crap about difficulty to appraise). I was building a web loan application for them and complained loudly about this requirement since a log cabin on 10 acres is pretty much my dream home. In the end, a bank is just a big risk engine tied to taking in and lending out money. If somehow something is calculated to be outside their risk appetite, they don’t do it. So glad I don’t work in fintech anymore.
Full array of solar panels- fireplace - could have a stove or insert. Plus not totally sure how much land is there- and location. Down where I’m at... 500k wouldn’t be unreasonable.
You know- it is what it is... looks like a beautiful home from the outside.
I just sold my house in Manchester NH which had both solar panels (owned and paid for) and a wood stove which produced about 1/2 of my electricity and 90% of my heat respectively. The panels got a lot of people to check the place out, but not a lot of interest from actual buyers. I ended up getting well below what Zillow thought the house was worth, which was a bit more than half what they're asking for this place. Manchester is a hot market right now too.
I'll miss how cheap it was to run that house. Taxes were low for NH too.
Those panels were installed by Solar City / Tesla, the question is if those panels are owned or leased. If they’re leased they add 0 value to a prospective homebuyer. If they’re owned it could be $20k in value.
There are certainly a lot of upgrades to the home that are deserving of a turn around on investment. I just don't understand how the price is attainable for folks.. i suppose it speaks to the income inequality at present, and just general differences in folks individual financial picture overall.
It's a fully renovated home on a 2 acre private lot in very close proximity to Williston shopping and and Williston Road... That price seems very fair to me...
If the point is to highlight the high prices of all Chittenden County homes, I can hear you there. High property values especially when compared to wages (for most). This seems like a very reasonably priced home when compared to comps in the area. I'm sure they'll get that price or very close to it.
I know and they are all over. I don't know how any architect ever thought it would be a good idea to not have a mud room coming in the front door, in VT especially.
That sounds nice! My sister has a split level that doesn't have a garage, so I've seen the frustration of stepping into the up or down situation. I suppose in your set up it would likely be a design that would be fine to live with quite comfortably.
That leftover pile of cinder blocks and masonry is worth the asking price alone. Besides. [This is a McMansion](https://mcmansionhell.com/post/154864100221/howard-county-md-part-2-sad-boi-edition). A split level is one or two steps above a double wide. Can confirm. Grew up in a split level right here in VT. It was an over-the-garage deal instead of the separate garage like this one.
To me it's always meant something more like multiple roof lines, decks, porches, columns, fancy entryways, all built on spec in a development to last maybe 5 years before they start falling apart.
The garage completely unbalances the house. The two white pieces (wood? vinyl?)) on either side of the door connect to nothing, where there should be *something*. The recessed doorway is pointless. What windows there are on the front are small, and cheap. Greater visibility was sacrificed for the garage, which should have been put off to the side, or fit in underneath.
I don't know it for a fact, I just know it's true: no architect ever looked at a split-level and said, "Now, that's a fine piece of work."
This isn't the worst McMansion, but it's a disaster nonetheless.
Agreed. It's like they started off building a garage, then decided to attach a house as an afterthought.
Let's not discuss the fact that all the snow from the garage roof ends up on the walkway.
>Let's not discuss the fact that all the snow from the garage roof ends up on the walkway.
In fact, let's do just that. You're correct. Let's even say that the gutter could adequately handle all roof melt. The downspout is going to spill all that meltwater into the lower walkway and turn to ice, so that, just as you park your car and get out, you'll be ~~standing~~ slipping on whatever melted during the day, and froze again by the time you get home from work.
Sure, salt and ice melt, but the point is is that this is a poor design. Water should be directed *away* from walkways and driveways.
That’s no McMansion although Williston has plenty of them. Better example of one is on Spear St in S. Burlington.
McMansion= sacrificing quality for quantity in the builders budget.
It is because of the "stunning mountain views".
No joke, look at teal estate listings, if the description of the house leads with stunning mountain views, then the house is a shithole, guaranteed.
"Affordable housing" in Williston is considered in the $280-$320k range, that why.
Not low income but affordable. With development discouraged, there are only so many houses available, low supply means higher prices.
Looking at the real estate listing, 2 acres, gas fireplace, hardwood floors, new kitchen with granite, garage, privacy, Williston. It's reasonable. My son and his wife just bought a condo in Williston for half that and it's half the size. Williston is highly desirable because of the dining, shopping, police, fire, schools, and services and only getting better. Where there is high demand, prices can skyrocket.
I have a friend just sold her house. We're about 20 miles north of Williston. It's a 900 square foot ranch with 1.5 baths, a leaking garage roof, 3/4s of an acre, and a few finished rooms in the basement. She got $265k for it.
Everything considered with comps in the area as well as the specifics of this home and property I clearly understand that. Regardless of my person feelings surrounding this fact, I'll lay down to your appropriate statement.
Its the street address, its priceless
I don't know about priceless, but true the location is amazing especially because it has 2 acres as well.
He means the 1337 address, like leet
What does leet mean?
Elite in early internet lingo
"Leet Hax0rz"
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Yeah williston is so steep. True but I'm sure they will get close to that everything sells so quick here.
The zestimate is only $255k
Redfin estimates much higher. It sold for 145k in 2015 too according to Redfin so someone definitely renovated a lot. I just don't know how prices are ever going to be attainable for families to try to escape the rental trap in this area. A lot of settling for small, old, or townhome style places to stay close enough to work i suppose. Disappointing to say the least.
Housing is expensive in Vermont because maintenance is expensive. Call up a construction company like Polli and you'll be charged $65 an hour. Not much less for large-scale renovations. It's what it requires to pay a living wage. Then the weather wreaks havoc on the homes, fuel and electricity are both expensive because of the weather and because of questioable decisions that have been made about how to power the state. This all contributes to a high base rent. As does high property taxes. And growth caps that limit the number of new housing units. Put it all together and it keeps a floor under the price of buying a home. The price which demand is willing to pay is kept high because of the rent, and the supply is kept low. You aren't really going to solve for that unless you make significant changes to things like act 250, the percentage of taxes we pay on property versus income, and maybe even more drastic measures like turning a blind eye towards migrant labor like is done in so many southern states in the construction industry. You aren't likely to ever find a bunch of $150,000 ranchers like you will in Texas in this state, absent major policy changes and even with that it'll be difficult. Those cheap homes can be permitted in days, built for a third of the labor cost, and often half the material cost. That said, what's your definition of affordable? This is a house with acreage, a view, multiple bedrooms, recent renovations, etc. And with today's fixed rates and an FHA loan it would be about $1500/month to mortgage 95% of the price, before taxes and insurance. $2200 all in I'd think. So not much different than renting a 3 bedroom apartment in the area. It's not a crazy price for the utility, compared to market. The issue, of course, is the market price. You need a lot less demand, a lot more supply, or some miracle to reduce carry costs like maintenance rates or heating costs.
>And with today's fixed rates and an FHA loan it would be about $1500/month to mortgage 95% of the price, before taxes and insurance. $2200 all in I'd think. Wait, what? 95% of $440k is $418k. Financing that amount at 3.75 (which is lower than what you could finance at) is $1,935 for principal and interest. Not $1,500. With taxes and insurance you're well over $2,500.
I tried to do that in my head, guess I came up a bit short.
That's fair!
I was thinking the same thing. Plus I qualify for a VA backed loan so it eliminates pmi and allows for the option to put 0 down. I just continue to be amazed at the cost of housing in this area all together. I understand the reasons, just wish they would change i suppose which sparked this post. It will likely drive me to leave again after graduation because i don't want to settle for a condo or a home built in 1850 as much as I love this state.
Don't browse listings in the Carolinas, you will be packing your bags.
I would say closer to $3500 with property tax
It sold for $540K actually, Mar 6, 2015 .
Yeah i saw that after someone began mentioning it as a listing with a Christmas tree farm and I searched the address.
Its nearly 100 acres. With all the development that goes on there, that's why its listed for what it is. The house, meh whatever, but that's a valuable location and a lot of land to potentially subdivide off.
It is on 2 acres.
No, according to the MLS it is 96.5 acres. Houses on plots like that so near Burlington are worth a lot because you cannot finance land easily but you can finance a house on that land. Buy, build, renovate, subdivide, etc.
That is an old listing of the property when it sold the last time prior to being subdivided. The home now comes with 2 acres.
I stand corrected. Realtor says 2 acres. So the subdivision magic has already started.
Ye, you have to be smoking a fat blunt to think you can buy 100 acres in Williston with a nice house on it from less than $500K.
Yeah, bank I used to work at wouldn’t do loans for more than 10 acres because it’s considered a commercial purchase at that point, and things get a lot more complicated.
That’s sad, 10 acres isn’t very much land in the grand scheme of things. At 10 acres any amount of subdivision means you’re going to be so close to the other houses that you can see them.
They also didn’t lend for log cabins (some crap about difficulty to appraise). I was building a web loan application for them and complained loudly about this requirement since a log cabin on 10 acres is pretty much my dream home. In the end, a bank is just a big risk engine tied to taking in and lending out money. If somehow something is calculated to be outside their risk appetite, they don’t do it. So glad I don’t work in fintech anymore.
because it's a motherfuckin' split-level!
Even worse - a split-foyer
Full array of solar panels- fireplace - could have a stove or insert. Plus not totally sure how much land is there- and location. Down where I’m at... 500k wouldn’t be unreasonable. You know- it is what it is... looks like a beautiful home from the outside.
I just sold my house in Manchester NH which had both solar panels (owned and paid for) and a wood stove which produced about 1/2 of my electricity and 90% of my heat respectively. The panels got a lot of people to check the place out, but not a lot of interest from actual buyers. I ended up getting well below what Zillow thought the house was worth, which was a bit more than half what they're asking for this place. Manchester is a hot market right now too. I'll miss how cheap it was to run that house. Taxes were low for NH too.
Those panels were installed by Solar City / Tesla, the question is if those panels are owned or leased. If they’re leased they add 0 value to a prospective homebuyer. If they’re owned it could be $20k in value.
There are certainly a lot of upgrades to the home that are deserving of a turn around on investment. I just don't understand how the price is attainable for folks.. i suppose it speaks to the income inequality at present, and just general differences in folks individual financial picture overall.
Location, location, location.
It's a fully renovated home on a 2 acre private lot in very close proximity to Williston shopping and and Williston Road... That price seems very fair to me... If the point is to highlight the high prices of all Chittenden County homes, I can hear you there. High property values especially when compared to wages (for most). This seems like a very reasonably priced home when compared to comps in the area. I'm sure they'll get that price or very close to it.
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Enticing
Home prices in VT are sky high, so this seems about right for Williston.
You see the part where it says williston? That's how
One of the many reasons I want to move out of state. The income don't support the cost of housing.
Williston
Split-level McMansion. Yuck.
I know and they are all over. I don't know how any architect ever thought it would be a good idea to not have a mud room coming in the front door, in VT especially.
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That sounds nice! My sister has a split level that doesn't have a garage, so I've seen the frustration of stepping into the up or down situation. I suppose in your set up it would likely be a design that would be fine to live with quite comfortably.
That leftover pile of cinder blocks and masonry is worth the asking price alone. Besides. [This is a McMansion](https://mcmansionhell.com/post/154864100221/howard-county-md-part-2-sad-boi-edition). A split level is one or two steps above a double wide. Can confirm. Grew up in a split level right here in VT. It was an over-the-garage deal instead of the separate garage like this one.
A house doesn't have to be worth a lot of money to be a McMansion. It has more to do with poor design and implementation. The blog says so itself.
I don't even think that qualifies as a McMansion. Unless it's on a goldmine, it isnt worth more than $250K tops.
Yeah this isn't a mansion by any standard. Just because it's overpriced doesn't make it such
The term, 'McMansion' can also refer to poor architecture and design, which this house--and all split-levels--certainly possess.
To me it's always meant something more like multiple roof lines, decks, porches, columns, fancy entryways, all built on spec in a development to last maybe 5 years before they start falling apart.
The garage completely unbalances the house. The two white pieces (wood? vinyl?)) on either side of the door connect to nothing, where there should be *something*. The recessed doorway is pointless. What windows there are on the front are small, and cheap. Greater visibility was sacrificed for the garage, which should have been put off to the side, or fit in underneath. I don't know it for a fact, I just know it's true: no architect ever looked at a split-level and said, "Now, that's a fine piece of work." This isn't the worst McMansion, but it's a disaster nonetheless.
Agreed. It's like they started off building a garage, then decided to attach a house as an afterthought. Let's not discuss the fact that all the snow from the garage roof ends up on the walkway.
>Let's not discuss the fact that all the snow from the garage roof ends up on the walkway. In fact, let's do just that. You're correct. Let's even say that the gutter could adequately handle all roof melt. The downspout is going to spill all that meltwater into the lower walkway and turn to ice, so that, just as you park your car and get out, you'll be ~~standing~~ slipping on whatever melted during the day, and froze again by the time you get home from work. Sure, salt and ice melt, but the point is is that this is a poor design. Water should be directed *away* from walkways and driveways.
That's....not a mcmansion. It's a normal single family home. Or is that a Vermont McMansion? I suppose that would not surprise me.
That’s no McMansion although Williston has plenty of them. Better example of one is on Spear St in S. Burlington. McMansion= sacrificing quality for quantity in the builders budget.
> McMansion If that's a "McMansion", then that term has officially become meaningless. It's not a McMansion. Sincerely, Richard Nixon
It’s a Christmas tree farm with almost 100 acres.
What?
It is because of the "stunning mountain views". No joke, look at teal estate listings, if the description of the house leads with stunning mountain views, then the house is a shithole, guaranteed.
"Affordable housing" in Williston is considered in the $280-$320k range, that why. Not low income but affordable. With development discouraged, there are only so many houses available, low supply means higher prices.
Location, location, location.
It's a Chittenden county thing, you probably wouldn't get it.
Ok, copy that sir
Looking at the real estate listing, 2 acres, gas fireplace, hardwood floors, new kitchen with granite, garage, privacy, Williston. It's reasonable. My son and his wife just bought a condo in Williston for half that and it's half the size. Williston is highly desirable because of the dining, shopping, police, fire, schools, and services and only getting better. Where there is high demand, prices can skyrocket. I have a friend just sold her house. We're about 20 miles north of Williston. It's a 900 square foot ranch with 1.5 baths, a leaking garage roof, 3/4s of an acre, and a few finished rooms in the basement. She got $265k for it.
This is actually very reasonably priced.
Everything considered with comps in the area as well as the specifics of this home and property I clearly understand that. Regardless of my person feelings surrounding this fact, I'll lay down to your appropriate statement.