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Menagerie Makes Purple Rain

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North Country Animal League is putting on an evening of fun and fundraising! Participate in the auction and raffle for a chance to go home with some sweet prizes. The theme is Purple Rain so come dressed in the 1984 movie attire, anything purple, or simply bad weather gear. Admission is $90 per person and tickets can be purchased here or by calling Tracy at (802) 888-5065 x 106. Expect delicious food, cocktails and a night of dancing! 

North Country Animal League is a limited-access facility which means they do not euthanize to make room for more animals. Every animal is spayed or neutered, treated for fleas, dewormed, and microchipped before they are adopted. This event is a great way to have fun and raise awareness and funds for a good cause. 

 

Come to Menagerie Makes Purple Rain on Saturday, February 4th from 5:30 pm to 10:00 pm at the Stoweflake Resort and Spa!

Waterbury's First Gears & Beers Bar Crawl!

Downtown Waterbury's looking forward to the much anticipated upcoming WATA (Waterbury Area Trail Alliance) event. Which includes craft beers... and a lot of it!

Waterbury is known for some of the greatest mountain biking around. It’s partially because of our geography, (ever heard of Perry Hill?) but also because the WATA organization put’s a whole lot of blood, sweat, and tears into our trails. So let’s have some fun while supporting this thrilling sport!

The first ever Gears & Beers Bar Crawl will be on April 30th. Sponsoring restaurants such as The Reservoir, Blackback Pub, and Prohibition Pig will donate 5% of their draft sales to WATA. This is going on all day and night! The Alchemist will also be delivering extra cases to Craft Beer Cellars that weekend.

If you were hoping to do more than have fun drinking 80+ kinds of craft beer in awesome restaurants to support our trails, you can! Learn more here.

How Do Homeowners Accumulate Wealth?

We found this very interesting! This is important for anyone considering renting or buying. Evaluation of financial investments can make or break your return on an achievement scale. Check out what Lawrence Yun had to say:

The differences between buying and renting are massive. According to the Federal Reserve, a typical homeowner's net worth was $195,400, while that of renter's was $5,400. The data reflects 2013 and the next survey of household finances, which is conducted every three years, will be out in 2016. Based on what has happened since 2013 and projecting a conservative assumption of what could happen next year to home prices if we see only 3% price growth, the wealth gap between homeowners and renters will widen even further. The Fed is likely to show a figure of $225,000 to $230,000 in median net worth for homeowners in 2016 and around $5,000 for renters. That is, a typical homeowner will be ahead of a typical renter by a multiple of 45 on a lifetime financial achievement scale.

Though there will always be discussion about whether to buy or rent, or whether the stock market offers a bigger return than real estate, the reality is that homeowners steadily build wealth. The simplest math shouldn't be overlooked. A vast majority of homebuyers take out a 30-year fixed rate mortgage to make a home purchase. After 30 years, there is no mortgage payment (nor rent payment). So the home price growth over that time period would be the equity that the homebuyer would have accumulated. For example, the median home price of a single-family dwelling in the U.S. thirty years ago in 1985 was $75,500. This year, it will be at least $220,000. That figure of $220,000 is the housing component of the person's wealth. Even had home prices not risen, the person would still have $75,500 in wealth today - on top of not paying any further monthly mortgage after 30 years.

This simple example does not play out nearly as neatly in the real world, since people do not stay in one residence over the 30 year period. Almost all homeowners trade up, change neighborhoods, or move to a better school district at some point. However, they are able to make those residential relocations due to the housing equity accumulated, even over a shorter period, and can immediately apply that equity to the next home as a downpayment. Therefore the conditions of steadily building housing wealth still hold.

We also know that not everyone can or should be homeowners. The memories of easily accessible subprime mortgages and subsequent harsh foreclosure pains are still fresh, and remind us of the devastating impact on the families involved, local communities, and to the broad economy. In addition most young adults have not developed the financial standing or have found a stable, desirable career and, therefore, choose not be homeowners until later. The homeownership rate among households under the age of 35 is 35% currently and rarely rises above 40% historically. For those under the age of 25, the current ownership rate is 23% and rarely rises above 25%. But the time will eventually come when people want to convert to ownership. By the time people are in their prime-earning years of 45-to-55, nearly three-fourths do eventually become homeowners. By retirement, nearly 80% are homeowners.

A recent survey of consumers commissioned by my organization revealed that 80% believe that purchasing a home is a good financial decision (2015 National Housing Pulse Survey). Most consumers appear to already understand the simple math and the benefits of homeownership. So don't overthink the matter of whether now is a good time to buy, or whether stock market returns will be better. The exact timing of a home purchase will have little financial impact in the big scheme of things. Just know that homeowners generally do come out ahead of renters in the long run.

View the original article here:

http://www.forbes.com/sites/lawrenceyun/2015/10/14/how-do-homeowners-accumulate-wealth/

 

Be Credit-Wise to Help You Get that Mortgage Loan

Your credit score is one of the most valuable things you own and it can quickly turn into a nightmare for you. A low credit score will directly affect your ability to borrow money and may get you turned down for that mortgage loan you have applied for. Or, you may be offered a higher interest rate because the lender sees you as a risky borrower. This may prevent you from buying your Waterbury or Stowe, Vermont dream home!
 
Many people either don't understand the ins and outs of their credit score, or they have inaccurate information on the subject. If you are currently looking for real estate, you should prepare yourself ahead of time and work to increase your credit score. Hopefully this will enlighten you!
 

1. Credit reports aren't always accurate. Most have a big error or mistake: 80 percent, actually. Regularly check your credit report. Everyday we hear about thousands of credit cards being compromised through the hacking of large retailers' security and payment systems. These breaches can ruin your credit and be a large and seemingly endless headache for you.

If your personal information gets compromised, a thief will open up financial accounts in your name. However, they will not pay the bills, and this will ruin your credit. Those unpaid bills will be reported to the credit agencies and will affect your ability to buy a car, rent a nice place, purchase a home or even get employment. So keep a close eye on your credit scores and your credit card accounts and report suspicious charges and credit cards immediately.
2. Pulling your credit score may lower it. A "soft" pull is done yourself for personal reasons; it will have zero effect. A "hard inquiry" is when a lender pulls it up for loan approval. It will have a negative impact, but small.
3. A higher income does not equal a higher credit score. Income is not relevant to credit score; paying bills on time (or not) is what matters.
4. Credit scores and credit reports are not the same. Credit reports are just one piece of the equation. Many factors go into calculating your credit score. What matters is your credit managing skills and making sure all three large credit bureaus have similar information and scores. The three big credit reporting agencies are Equifax, Experian and Transunion, and you can get one free credit report a year from each. Take advantage of this to protect yourself.
5. Debt settlement will not remove debt from your credit report. Debt settlement doesn't fix bad credit. Late payments, bad information and other smears remain for up to seven years following the first "infraction" date.
6. Cash-only payments will not help you build credit. You can't build good credit unless you use credit, and use it wisely. Get a couple small loans or credit cards and pay them off as you use them.
7. Closing your credit card accounts will not improve your credit score. Closing a card lowers your amount of disposable income: the ability to pay off other debt. You don't want to lower "credit utilization" by closing out a card.
8. Smart management of your various banking accounts is not reflected in your credit score. These are not reported to credit bureaus and thus have no impact. But hopefully your smart management means you are paying your bills on time!
9. Dispute inaccurate information to remove it from your credit report. You can dispute only mistakes. A valid dispute will result in deletion of inaccurate information. A dispute of negative, but accurate, information will be a waste of time.
10. Missed payments will affect your credit score. Any missed or late payment can be reported to a credit bureau and probably will be.
 
Based on a n article By Robert Siciliano
Real Estate Services with IDTheftSecurity.com Inc

 

Comments

  1. monika on

    Hello, This is to inform the general public that Mr Barry More, a private loan lender has open up a financial opportunity for everyone in need of any financial help. We give out loan at 3% interest rate to individuals, firms and companies under a clear and understandable terms and condition. contact us today by e-mail at: (barrymoreloans12@gmail.com )
    • monika on

      Hello, This is to inform the general public that Mr Barry More, a private loan lender has open up a financial opportunity for everyone in need of any financial help. We give out loan at 3% interest rate to individuals, firms and companies under a clear and understandable terms and condition. contact us today by e-mail at: (barrymoreloans12@gmail.com )

      Rome Was Built in 12 Years... In Waterbury, VT

      As we leave winter behind and look forward to spring and summer, let's pause and think about a local snowboarding company - yet another thing to celebrate!

      This thriving Vermont snowboard company was started by two University of Vermont graduates and is based out of Waterbury, VT - with the Vermont vibe inherent in all that they do - it doesn't get much more local...

      Vermont Life Magazine Rome Was Built in 12 Years » Vermont Life Magazine.

      Citizen Lead Development

      You can be involved in the design and building of your next home, neighborhood, town or city. Alastair Parvin begs us to reconsider the way that our homes and communities are built and offers solutions for ways that the average citizen can get involved in the process. Check out this WikiHouse project and imagine your next home. Click here to see available land in Vermont that matches your new vision.

       

      Vermont Life Magazine Youth Exodus? Vermont Life Magazine

      Vermont Life Magazine Youth Exodus? » Vermont Life Magazine.

      For a long time the myth has been that young people are leaving the state, leading to economic, social, and cultural downfalls. Recently, Vermont Life Magazine has painted a different scene and with ample research found that, "Universally, the young people we spoke to said they prize Vermont's intimate scale and interconnectedness, its natural beauty and easy access to the outdoors, its down-to-earth priorities and its indefinable vibe. Vermont has a bright future. Vermont is also admired. People want to live here, and with the Web and telecommuting, more and more of them can." They do point out that indeed many young people are leaving, but they are also returning to the state with the wealth and knowledge gained from travel and life experience. They said, "The youth-flight narrative, with its aversion to nuance and context, overlooks the flow of people who return in mid career."

      If more young people are going to stay in the state, they need to be able to thrive in their career and find a home to match their lifestyle. Vermont Life Magazine looked at the case of Dealer.com, "everybody's idea of what Vermont needs to stop young people from leaving the state." Dealer.com is, "a fast-growing business that provides digital marketing systems for the automotive industry, in a setting, with about 750 other employees, that has all the toys and perks of Silicon Valley culture: brightly colored warrens of open cubicles, organic café with espresso, on-site gym, rooftop solarium with putting green and a renovated building that, it almost goes without saying, is a model of green design." Sean Hurley, director of advertising and social products for Dealer.com said that, "It's a mistake for anyone to think that there aren't real businesses here making real money." In fact there are many examples of thriving local business in Vermont in order to keep young people in the state engaged and challenged within their careers. Luckily, there are also many opportunities to help first-time home buyers settle in the state.

      With all of these opportunities at an arm's-length away, what young person wouldn't want to make a home in Vermont?

      Please contact us for more information on buying a home in Vermont or consult the following information meant to educate first-time home buyers.

      Further information for first-time home buyers:

      "First-timers now represent nearly 30 percent of all existing home purchasers," said Ray Brousseau, executive vice president of a nationwide lender. "That's a big percentage, but it could be a lot higher because there are many ways first-time purchasers can finance with little down and little hassle."

      The big barrier for many first-time buyers is cash. It takes cash for a down payment, and it takes cash to close. Lenders are generally looking for buyers with 20 percent down, but given that the typical home sells for more than $200,000, there are a lot of first-time homebuyers who have not accumulated the $40,000 or more that lenders prefer. The good news: There are many ways around the 20 percent requirement with traditional loan options. "It doesn't take a lot of up-front cash to buy a home today," said Brousseau. "FHA and conventional financing are all available with little down, while VA borrowers can qualify for mortgages that require no down payment." The way such programs work is that they substitute insurance for the 20 percent down that lenders would otherwise want.

      Mortgage Assistance Plans

      According to DownPaymentResource.com, there are more than 1,500 assistance plans administered by more than 1,000 agencies nationwide for would-be buyers, many aimed specifically at first-time purchasers. In looking at these programs it's important to understand what the term "first-time buyer" means. It typically does not mean someone who has never owned a home; instead the usual definition for program qualification purposes is someone who has not had title to a home during the past three years. This definition is important because it provides a way for people to re-enter the housing marketplace.

      "Another important point about mortgage assistance programs is that many are specifically designed to encourage local home purchases by public-sector employees such as teachers, police, firefighters, nurses, and corrections workers," said Brousseau. "There are millions of people who qualify for such assistance."

      The benefits available through mortgage assistance plans vary. For instance, borrowers may be able to get financing at below-market interest rates. Down payment grants may be available, essentially meaning that little or nothing down will be required. Another approach includes programs that offer tax credits. Mortgage interest is generally deductible, but a "tax credit" is arguably more valuable. With what are called "mortgage credit certificates" or MCCs, borrowers can deduct directly from their actual tax bill. For instance, if you have $8,000 in mortgage interest you might be able to directly reduce your taxes by $1,600 while the remaining $6,400 can be treated as an itemized deduction.

      "Given low interest rates and a firming housing sector, this is a terrific time to consider entering the real estate market," said Brousseau. "With today's financing choices, many buyers can own their own home a lot quicker than they might have thought."

      Reprinted with permission from RISMedia. ©2013. All rights reserved. {C} {C}

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      Arianna Huffington's Secret to Success: Sleep

      "Shut your eyes and discover the great ideas that lie inside us. Shut your engines and discover the power of sleep." According to Huffington, this is what's best for our personal health and well-being as well as what's best for the condition of the world. As a small business we are always looking for ways to improve the health of our employees and the community and if sleep is one simple step in the right direction then we will embrace Huffington's secret to success. Through doing so we hope to foster new and innovative ideas, engage with the local community and grow.

      Comments

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      Hen of the Wood Burlington

      Hen of the Wood has been in Waterbury for almost eight years now and in that time co-owners Eric Warnstedt and William McNeil have helped to foster a great sense of community and local flavor within a carefully crafted dining experience. This is an experience soon to be had in Burlington as well. Hen of the Wood will be opening at Hotel Vermont with the same intuitive vision for pursuing local partnerships, operating like a family, supporting the local community and economy, and creating simple, yet innovative and inspiring cuisine. You can help make this all possible by becoming a seatholder at both Hen of the Wood locations. By making a $500 donation to this expansion project you will receive a 15% discount for the life of both businesses and give a gift in return to a community business that has helped grow the Waterbury economy.

       

      Hotel Vermont Vision

      Welcome to Hotel Vermont: Visions for Downtown Burlington from The Lake Champlain Chamber on Vimeo.

       

      Burlington's new Hotel Vermont embraces the local surroundings and creates a place for visitors to feel at home. Their vision:

      Vermonters are known for being independent, together. And like Vermont, Hotel Vermont is full of compatible contradictions. Located in downtown Burlington near the shores of Lake Champlain, we're rustic and modern, local and global, natural and sophisticated, hand wrought and high tech. We give you space to yourself and room to gather. And we're here to help you explore like a local, relax like it's your job, and soak in every detail. From food fresh from the farm to your plate, to the glorious sunsets across the lake and ideas for exploring off the grid, we hope you'll discover and enjoy our beautiful state as much as we do.