Members of the Vermont Association of Realtors® (VAR) have elected officers to serve on the 2024 VAR Board of Realtors®. These new leaders will be installed at the VAR 78th Annual Meeting on November 1-2 at The Lodge at Spruce Peak in Stowe, Vermont.

Mike Hickey, broker/owner of Hickey & Foster Real Estate, will be the NAR Director. This appointment is a testament to Mike’s dedication to real estate. As part of the VAR’s governing body, Mike will be a key influencer and voice for Vermont’s real estate community, handling strategic direction and policies. Mike will shape the future of the industry and advocate for the interests of real estate professionals and homeowners.

This year’s VAR Annual Meeting is artfully themed “We R the Brand,” a tribute to the enduring spirit of Realtors® and their unique value proposition in the real estate market. The event promises to be an enriching experience, packed with insightful workshops, dynamic discussions and networking opportunities.

Mike Hickey
Cell: 802-523-2162
Email: mike.hickey@kw.com

JUST SOLD! Michael’s on the Hill Restaurant

4182 Waterbury-Stowe Road, Waterbury Center, VT 05677

Listed by Steven Foster and Ken Libby

Sold by Jessie Cook (Coldwell Banker Hickok & Boardman)

Closed: 9/19/2023

Michael’s on the Hill, the award-winning, landmark restaurant located in the Waterbury/Stowe area for 20+ years, sold for $1.2 million. This highly visible property on Route 100 is a meticulously restored and decorated 1820s farmhouse with multiple intimate dining spaces for up to 82 guests.

The sale included a loyal customer base, inventory, 4 acres, furniture, equipment, website and intellectual property.

Congratulations to new owners Don Jones and Andrew Kohn, who also run Stowe’s Brass Lantern Inn. We can’t wait to see how your vision adds to this incredible culinary enterprise.

We also extend our best wishes to former owners Laura and Michael Kloeti as they embark on an exciting next chapter!

In the news:

• “Michael’s on the Hill in Waterbury Center Sold to New Owners,” by Melissa Pasanen, Seven Days
• “Michael’s on the Hill restaurant purchased,” by Aaron Calvin, Stowe Reporter
• “To Our Dear Friends, After many incredible years of serving our community, we have made the heartfelt decision to pass the torch to new owners...” (Michael’s on the Hill Facebook page) 

•••

5-star Google review from Laura Kloeti:

“We recently sold our business with Hickey & Foster Real Estate. There were many moving parts to this sale, and Steve Foster was really wonderful. He was very knowledgeable, with a clear understanding about what we might expect throughout the process and he was extremely helpful assisting us in navigating through the complicated issues. We always felt that we had an ally in him and would recommend him any time!

When we had to deal with a fire inspection issue with our staircase, requiring an immediate professional opinion, Mike Hickey, who has a builder background, came right over to check things out for us.

Steve also has a calming spirit which is something that we truly appreciated. The sale of a business can often become personal and very stressful. He kept things clear, acted as an excellent liaison between us, the sellers and other parties, was always available to us, and did it all in a kind, respectful manner that we appreciated very much. In the end, we left feeling that we not only sold our beloved business, but made some new friends at Hickey & Foster!”

We’re celebrating today! KW Vermont is ranked No. 1 in the state for Units Sold YTD!

We’re so proud of our fellow agents, team leaders and support staff for their rock-star dedication and hard work that contributed to this amazing ranking!
 

Also from the post...

This incredible achievement is a testament to our agents unwavering dedication, expertise, and commitment to their clients. We want to extend our heartfelt gratitude to our amazing agents, without whom this achievement would not be possible.

Here’s why KW Vermont agents are the top choice for all your real estate needs:

• Expertise: Our agents are industry experts, with an in-depth knowledge of the local market, providing you with the best advice.

• Exceptional Service: We take pride in delivering top-notch customer service, ensuring a smooth and stress-free experience for every client. Your satisfaction is our priority, and we go above and beyond to meet your unique needs.

• Proven Results: We consistently close deals efficiently and effectively, helping our clients achieve their real estate goals.

• Integrity: Trust and honesty are at the core of our values, ensuring you receive transparent and ethical service.

If you’re considering buying, selling, or investing in real estate, choose KW Vermont. Experience the difference for yourself and let us help you turn your real estate dreams into reality.

Selling your home before buying a new one has several advantages (and can be a smart financial move), including:

1. Knowing your budget: When you sell your current home first, you will know exactly how much money you have to put towards your new home. This can help you avoid overextending yourself financially and ensure that you buy a home that fits within your budget.

2. Avoiding the risk of carrying two mortgages: If you buy a new home before selling your old one, you may end up carrying two mortgages at once, which can be a significant financial burden.

3. Having more negotiating power: When you are a cash buyer, you may have more negotiating power when it comes to buying your new home. This is because sellers prefer cash buyers who can close quickly and don't have to worry about financing falling through.

4. Reducing stress: Selling your current home before buying a new one can help reduce the stress and uncertainty that comes with juggling two transactions at once. It can also give you more time to find the perfect new home without feeling rushed or pressured.

•••

Selling your home before finding your next home can also create logistical challenges. Here are some steps you can take to make the process smoother:

1. Determine your financial situation: Before you sell your home, it's important to understand your financial situation. This includes how much equity you have in your current home, how much money you need to buy your next home, and how much you can afford to spend on temporary housing if needed.

2. Prepare your home for sale: To sell your home quickly and at the best price, you should take the time to prepare it for sale. This may involve cleaning, decluttering, and making any necessary repairs or upgrades.

3. Work with a real estate agent: A good real estate agent can help you navigate the home selling process and provide valuable advice on pricing, marketing, and negotiating with buyers. They can also help you find temporary housing if needed.

4. Consider temporary housing options: If you sell your home before finding your next one, you may need to find temporary housing. This could include staying with friends or family, renting an apartment or house, or using a short-term rental service like Airbnb.

5. Be prepared to move quickly: When you sell your home, you may need to move out quickly to accommodate the buyer's timeline. This means having a plan in place for packing, moving, and storing your belongings if needed.

Overall, while there are some risks associated with selling your home before buying a new one, it can often be the best strategy for homeowners who want to minimize their risk; but it requires careful planning and preparation to ensure a smooth transition. Working with a qualified real estate agent can help you navigate the process and make the most of your home sale.

Information courtesy of Keller William Realty New England Region

When interest rates are higher, the cost of borrowing money to purchase a home increases, which means that the monthly mortgage payments will also be higher. However, there are still several reasons why someone might choose to buy a home when interest rates are higher:

1. To lock in a fixed rate: When interest rates are higher, buyers may want to lock in a fixed rate on their mortgage to protect themselves from future rate increases.

2. To take advantage of the market: While higher interest rates may make buying a home more expensive, they can also mean that there are fewer buyers in the market, which can create an opportunity for buyers to negotiate a lower price.

3. To invest in the future: Buying a home is often seen as a long-term investment, and buyers may be willing to pay a higher interest rate in order to own an asset that is likely to appreciate in value over time.

4. To enjoy the benefits of homeownership: Homeownership offers many benefits, such as the ability to customize your living space, build equity, and establish roots in a community.

Ultimately, whether or not it makes sense to buy a home when interest rates are higher depends on a variety of factors, including your financial situation, your long-term goals, and the state of the real estate market. It is important to carefully consider all of these factors before making a decision.

Information courtesy of Keller William Realty New England Region

Owning a home instantly increases your net worth and it can grow from there. That’s where we come in! 

We’re hosting a FREE Virtual First Time Home Buyer’s Seminar on Saturday, March 25, at 10:00 a.m., in partnership with Movement Mortgage.

No matter what the market looks like, buying your first home will always be the right choice when you have the proper tools and guidance, including how to find the right house, shop lenders and loan options, submit an offer, negotiate a closing, and more.

If you’re a first-time home buyer, tune into this helpful seminar for more information and materials on taking these initial steps.

Whenever you decide to make a move, the team at Hickey & Foster Real Estate is here for you.

To register: https://form.jotform.com/230644285314049

(Register by Friday at 3:00 p.m. You will get an email on Friday with Zoom instructions.)

Our team at Hickey & Foster Real Estate is proud to announce we have a NEW website - with a NEW look, BETTER features and MORE real estate information to help you buy or sell in Vermont! You’ll see expanded agent pages, so you can really get to know our dedicated team members; updated community guides, so prospective buyers can explore north-central Vermont towns; extensive property marketing information, the how-to of listing, pricing, marketing and showcasing your home; current and sold listings; and a new year-in-review section, so you can be on the pulse of Vermont real estate trends.

When you are looking for Vermont real estate services, choose the award-winning team of Hickey & Foster Real Estate, providing "All The Best In Real Estate Services!"

Thank you for visiting our website!