Blog :: 07-2008

Taste of Stowe Arts Festival

Taste of Stowe Arts Festival

Looking for something to keep you busy this weekend? I will be attending the Taste of Stowe Arts Festival, put on  by the Helen Day Arts Center. Shap, my husband, is on the board at the Helen Day, so of course we will get out to support the event, but that is not the only reason why, they actually have great stuff! Who could think of a better combination of events than all the finest restaurants from the Stowe Area and fine crafts from all over the area. It is my idea of heaven. We are big fans of the Stowe Craft Fair in October, but this new Art Show is proving to be a good competitor.

Hope to see you there!

FHA Changes: They might effect you when buying in Stowe

I receive newsletters from Jeff Teplitz, a Mortgage Consultant for National City Mortgage in Burlington VT. I found this one to be of particular interest, so I thought I would pass it on. If you are looking for more information, Jeff's contact information is below.

FHA Changes:

The following changes look like they will take effect with the passing of the FHA bill in Congress. 1. Minimum Investment will increase from 3% to 3.5% with the current maximum loan amount calculations being simplified. This money does not have to come from the borrowers own saved funds. It can still be a gift.

2. The down payment assistance program which currently allows the seller to donate money to a non profit which in turn gifts the money to the purchaser in essence allowing for no money to come from the borrower will be eliminated as of October 1. Loans will have to be approved by September 30th. There's still time to utilize this program so get motivated sellers within the $317k sales range to take advantage of it.

3. The new up front MIP costs will roll back to the old way for the next year. For those not aware, FHA had introduced a tiered mortgage insurance premium table costing the lowest down payment borrowers a bit more, but lowering costs for larger down payments. There may be a provision allowing HUD to increase the up front MIP to as much as 3% which would not be a positive thing for the homeowner.

4. Condominium project approvals should be significantly streamlined. Not exactly sure what that really means, but it's a cumbersome process now and any relief is welcome.

National City Mortgage is currently the 3rd largest originator of FHA mortgages in the country. We know FHA and we close FHA the right way. FHA seems to be the buzz word and every lender and broker are looking for ways to be able to write the FHA mortgage. It's a different mortgage and there's a huge difference between lenders that know how to write them and have a proven track record, and those that want the product of the day. Don't take unnecessary risks and look to a leader in FHA and all Government lending.

We still have three 100% financing options in VA, Rural Housing, and FHA's down payment assistance. We have a dedicated condominium department that understands the rules and guidelines of Fannie & Freddie and also allows borrowers to close on units in new projects that don't meet the new presale requirements and project definitions.

Jeff Teplitz Mortgage Consultant National City Mortgage, 75 Talcott Road, Suite 70 Williston, Vermont 05495 (802) 879- 4424 ext 234 phone (802) 879 - 9324 fax jeff.teplitz@ncmc.com www.nationalcitymortgage.com/jeffteplitz

Condo for Sale: 678 Stowe Hollow Rd. Stowe VT

678 Stowe Hollow Road, Stowe VT, Condo for Sale 678 Stowe Hollow Road, Stowe VT, Condo for Sale, Living Room

Charming Condo in Stowe Hollow. If you are looking for a centrally located condo in Stowe, you've come to the right place. Just up the hill from downtown Stowe, 678 Stowe Hollow Road has all the charm you could ever want in this 2 bedroom end unit. A converted colonial home takes you away from the cookie cutter condos out there. Give me a call and come take a look:

Click here for the full listing & map: 678 Stowe Hollow Road, Stowe Vermont, Condo for Sale!

Comments

  1. c on

    my father-in-law lives at 678 stowe hollow rd which is a log cabin i believe this address for the condo should be 687.
    • Missy on

      There is an ad on craigslist trying to rent this location for $500.00/month. It is obviously a scam but I thought you or someone should know about it. Here is the link to the ad. http://burlington.craigslist.org/apa/1994584141.html
      • Cheryl Hart on

        I am communicating via email with someone in the UK to rent the condo shown in these pictures. Do you know anything about scams related to this property? Thank you in advance for any info you might have.

        Mozart Festival Comes to Stowe's Trapp Family Lodge

        If you are in Stowe this weekend and looking to enjoy the beautiful setting of the Green Mountains; what better place to do it than the meadow at the Trapp Family Lodge. This Sunday the Vermont Mozart Festival comes to Stowe, featuring Beethoven on the Mountain. Ticket are $30 a person and can be purchased online at www.vtmozart.com

        Pick up some yummy picnic items and a bottle of wine at the Harvest Market on the Mountain Road in Stowe, grab a blanket and head to Trapps. Watching the sunset over the hills with Beethoven in the background, is a fine way to end the week.

        Training in Stowe Hollow Leads to Success for Cancer Research

        Last Saturday, July 12th, I participated in the Prouty which is a walk and bike ride for the Norris Cancer Research Center at the Mary Hitchock Hospital in Hanover, N.H. I raised $1200 and walked 20 K. I have been walking 3 miles everyday and decided that I would like the challenge of walking farther. A friend of mine asked me to sponser her for a 100 mile bike ride for this event and while I was signing up to donate, I became interested in doing it myself. What attracted me to it was the fact that all of the money went to the Norris Center and did not go in support of administation. The other reason was the wonderful care my friends have received at Mary Hitchock.

        For the first 10 K ,a friend joined me and we went off on the "wooded walk". This was a delightful walk with some hills, beautiful vistas, a stunning lake and interesting woods. The support stations were welcoming with smiling, friendly volunteers who could not thank us enough for helping to meet the two million dollar goal. We began at 7:30 while it was still cool. My friend left me after 10K and I had the choice of doing the wooded walk again or try the residential walk. What real estate agent would give up an opportunity to look at real estate?

        The residential walk brought you into Hanover and through the Dartmouth College campus. It brought back days of college week-ends and familiar haunts. I must admit that I had a book on tape to entertain me. At no time did I feel stressed or that I could not continue. When I finished at noon ,I felt I could easily do another 10K.

        The interesting question for myself, was why did I do it? I think it was for the challenge, but it was also to honor my friends that have and are battling cancer. There is no way that I can take on their struggle, but what I can do is help to raise money to find a cure. What I can do is be there as their support, to spend several hours by myself doing something that challenges me. It allowed me time to forget the concerns of my life and my own conflicts.

        I would encourage anyone to sign up for a walk or a ride in support of a cause that you feel is important. If nothing else you can raise money for a worthy cause, but you will find fulfillment in your accomplishment.

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