All Forum Posts by: Kathleen James

@Patrick Giblin well put!!

I'll keep you both updated on here on the progression of this bill and will speak to some of my colleagues (one of whom is the president of the Vermont Association of Realtors) to see what VAR and realtors in general have been hearing. 

I spoke with my state representative on this and she said that this bill has just been released and they will negotiate the bill before it ever comes to a vote. 

As it is now, per my rep, buy before the bill is passed, and you're grandfathered in. 

A short term rental property that is rented 255 days a year, or 36 weeks, which is the 70% dictated in the last line of that proposed bill will likely still bring you a nice profit and is actually pretty reasonable (few come up for six weeks in April to may and from the end of foliage through the first snow. That's about 12 weeks, so you'd likely only be unable to rent for an additional 4 weeks. (52 weeks a year - shoulder season=40 weeks). Hope that helps quell the panic! 

Even for rehab properties, the market is moving incredibly quickly. The area matters slightly, we're seeing longer days on market for properties deep in the Northeast  Kingdom and north near Newport, but regardless, properties are being sold, often times above list price and with multiple offers. 

The short term rental market has changed slightly, lots of folks in Stowe have come for the short term rentals and have stayed.

Our state is very desirable and even through the pandemic, many landlords have seen great profits. Having 4 seasons and a little something for everyone doesn't hurt.