Real Estate in Quechee Lakes, Vermont, Continues To Appreciate Despite Deflated U.S. Housing Market
Quechee Lakes, Vermont (PRWEB) January 21, 2008 -- Property in Quechee Lakes, Vermont's premier second home destination, continues to appreciate and sell while real estate across the United States struggles to reverse the downward trend that began in 2006.
Quechee Lakes remains in high demand despite the housing bust -- the average home sale value increased 7 percent from 2006-2007, according to data acquired from property transfer records. In contrast, data provided by the National Association of Realtors® (NAR) shows that the median sales price for single-family homes in the U.S. decreased 2 percent from the third quarter of 2006 to the third quarter of 2007.
The real estate market in the state of Vermont is currently performing better than in markets throughout the country. As of the third quarter of 2007, NAR reports that Vermont is one of two states to experience an increased sales pace, up .8 percent from the year before, while the national average is down 13.7 percent.
An analyst at NAR explains that real estate in the Green Mountain State is performing well because, "Vermont has a high percentage of second homes and that market is based primarily on lifestyle considerations as opposed to financial considerations." The bulk of the second home market comprises baby boomers, who remain less affected by the economic consequences of the subprime mortgage crisis.
Second home communities such as Quechee Lakes are consistently appealing because they possess unique selling attributes. They offer buyers distinct amenities that add tangible value to property investments and are not heavily affected by shifts in market trends. Home values have doubled in Quechee Lakes since 2000, the average price increasing from $209,388 in 2000 to $463,710 in 2007.
According to Charles MacPherson, Director of Sales at Quechee Lakes, "Property values in Quechee Lakes have remained very strong because second home buyers are attracted to the benefits of its exclusive country club. We offer golf, tennis, hiking, kayaking, biking, skiing and other recreational activities, making Quechee Lakes truly a four-season destination community."
Bob Hill, Executive Vice President of the Vermont Association of Realtors says that there is a combination of market forces that have contributed to the stability of the real estate market in Vermont. For one, "A shortage of housing inventory for the past few years has kept the demand high," and the process to build new homes in Vermont is more controlled. According to Mr. Hill, "The market in Vermont didn't see the rampant speculation that causes over-building, and this has led to Vermont's ability to stay closer to supply and demand than other areas that have suffered."
The Quechee Lakes Company, developer of Quechee Lakes, builds a limited number of homes each year. "We ensure that new residences are kept at a premium and that the community develops organically," said Oleg A. Vyadro, Managing Director of inSegment, the exclusive sales and marketing agency for The Quechee Lakes Company.
About Quechee Lakes:
Quechee Lakes is Vermont's premier second home destination that's conveniently located within a 15-minute drive of Dartmouth College in Hanover, NH, and the historic village of Woodstock, VT. The 5,200-acre luxury community boasts an impressive array of townhomes, single-family homes and private home sites to custom build. All purchases include membership in the exclusive Quechee Club, featuring two championship golf courses, ski hill and more. For more information, visit www.quecheelakes.com or call the sales center at (888) 819-8091.
About the Developer:
The Quechee Lakes Company (formerly known as Quechee Lakes Development Company) is Quechee Lakes' largest residential real estate firm and landowner. It is owned by an affiliate of Taurus Investment Holdings, LLC, an international real estate company (www.tiholdings.com).
About inSegment, Inc.:
inSegment, Inc. of Needham, Mass. is the exclusive sales and marketing agency for The Quechee Lakes Company (www.insegment.com).
Contact:
Oleg Vyadro
inSegment, Inc.
vyadro@insegment.com
781.453.3550
*NOTE: Interviews can be arranged
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