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Blog :: 2012

Snow at Stratton 12/27/2012!

small12_27_sign12 smallBondville             12/27/12

Winhall Real Estate

                Bondville  Main Street

 

Skiing at Stratton -- Powder thigh deep -  Christmas vacation - What a blast -  Our rental department is sold out of Stratton rentals for this holiday week and everyone is going to have a fabulous time.    I expect by the time this storm is finished, the mountain should be fully opened.       It is a great time to look at real estate as there are still good buys left in all prices.      If you are thinking about skiing this winter call our Stratton Rental department to book a weekend or holiday Ski rental.    Lots of availabilities for future dates.     Come play with us!

 

Skiing At Stratton

As we are getting a nice dusting of snow, it gets everyone in the holiday spirit and looking forward to skiing at Stratton over the holidays.   I skied for the first time on Friday.  A beautiful day and many trails open with good quality snowmaking.   Our short term rental depart is busy booking rentals for the Holiday and still have a few availabilities left for Stratton rentals.   Best to call to see what is still available.    There are some great values in homes for sale, so it would be possible to buy something now and have the second half of the ski season to enjoy it.    A great buy is this High Meadow home which has just been reduced $100,000 to $899000.

Stratton Home reduced

Stratton High Meadow home

 

 

 

 

 

 

 

 

 

SNOW ON STRATTON - OCTOBER 12

   Snow on Stratton in October.  The mice have been coming sinside for weeks.  All great signs that this is going to be a grat winter.   Still a lot of good opportunities to either buy or rent for this winter seaaon.    Give us a call!

Fall At Stratton Means time to Rent or Buy for this Ski Season

The foliage is beautiful this year with the lease mixing reds, yellows and greens to make for spectacular viewing  Bromley and Stratton Mountains look like they are on fire.  It is not too late to book a weekend, seasonal or week long rental at Stratton Mountain.    There are many great Stratton rentals still available for this season so it is well worth your time to come, enjoy the foliage and rent or buy for this coming Ski season.   The long weekend October 5 through 8, there are many fun family activities at Stratton so come up and enjoy the fun.

Strattonwald, a well sought after area with summer tennis and swim pond and a winter shuttle to Stratton, has several great opportunities starting at $299,00.

 

 

 

 

 

 

 

 

 

Wall Street Journal Says "Housing Bust is Over!"

The Wall Street Journal in a recent  article  has said that all indications are that the house market is growing.  There are more housing starts as well as less real estate on the market.    This is certainly indicated here in Vermont with the heat of this summer showing our market is heating up.   Interest is seen in both Stratton Sales sales and Stratton/Bromley seasonal rentals.  

Winhall Real Estate, Inc.  is a unique office in that we work and play well together.   If your agent is unavailable, anyone in the office will cover for that agent.     Our goal is to provide the best service in the area for both Sellers and Buyers.   In July we had our annual  Summer Office Party where we all got to relax together, enjoy a beautiful day at Lake Sunapee and a Sunset Lobster dinner.   Enjoy our pictures.

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 While some people think of Stratton as a winter resort, Cole Pond is only 2.5 miles from the Stratton Access Road.  We have listed a like new custom built home right on the water.   This is an opportunity to have a winter and summer home all in the same location.   The price has just been dramitcally reduced so if oyu are thinking about Stratton Mountain and getting away from the heat come see this great listing.

 

Cole Pond House in the Fall $799,000

 

Vacation Home Tax Deductions

Lots of Good Reasons to consider buying a vacation home from the National Association of Realtors as below:

 

Tax Deductions for Vacation Homes

By: Donna Fuscaldo

Published: January 3, 2012

Tax deductions for vacation homes vary greatly depending on how much you use the home and whether you rent it out.

Is your vacation home a vacation home?

If you bought your vacation home exclusively for personal enjoyment, you can generally deduct your mortgage interest and real estate taxes, as you would on a primary residence. Use Schedule A to take the deductions.

The IRS even allows you to rent out your vacation home for up to 14 days a year without paying taxes on the rental income. You might be able to deduct any uninsured casualty losses too, though you can't write off rental-related expenses. (More on those below.) If the home is rented for more than 14 days, you must claim the income.

Now, if you own what you consider a vacation home but never visit it, or only rent it out, other tax rules apply. Without personal use, the home is considered an investment or rental property by the IRS. Time spent checking in on a house or making repairs doesn't count as personal use.

Tax deductions for rental owners

As an exclusive rental property, you can deduct numerous expenses including taxes, insurance, mortgage interest, utilities, housekeeping, and repairs. Even towels and sheets are deductible. Use Schedule E. You can also write off depreciation, the value lost due to the wear and tear a home experiences over time.

Treat the rental property like a business, says Mark Steber, chief tax officer at Jackson Hewitt Tax Services. Keep detailed records and maintain a separate checking account. Figure you'll spend a couple of hours a week, on average, over the course of the year managing the property.

To maximize deductions you need to be actively involved in the rental property. That means performing such duties as approving new tenants and coming up with rental terms. You also need to own at least 10% of the property. See IRS Publication 527 for details.

If your modified adjusted gross income (same as adjusted gross income for most people) is below $100,000, you can deduct as much as $25,000 for rental losses -- that is, the difference between your rental receipts and your rental expenses. The deduction gradually phases out between a modified adjusted gross income of $100,000 and $150,000. You can carry forward excess losses to future years or offset losses to offset gains when you sell.

Mixed use of a vacation home

The tax picture gets more complicated when in the same year you make personal use of your vacation home and rent it out for more than 14 days. Remember, rental income is tax-free only if you rent for 14 days or fewer.

The key to maximizing deductions is keeping annual personal use of your vacation home to fewer than 15 days or 10% of the total rental days, whichever is greater. In that case the vacation home can be treated as a rental, meaning you get the same generous deductions. To avoid going over the 10% limit, essentially you shouldn't use your vacation home more than one day for every 10 days you rent it.

Make personal use of your vacation home for more than 14 days (or more than 10% of the total rental days), however, and your deductions may be limited. An example: Your rental receipts are less than your rental expenses. You can't offset the loss against other income sources, such as salaries and pensions. There's a worksheet in Publication 527 that can help you determine which expenses you can carry over to the following year.

Another big blow: The IRS requires you to divide expenses between personal use and rental use. Let's say you have a vacation home you personally use for 25 days and rent for 75 days. That's 100 total days of use. You can only write off 75% of the expenses as rental expenses--75 rental days divided by 100 total days of use works out to 75%. Some of the personal expenses, such as mortgage interest and real estate taxes, may be deductible on Schedule A.

IRS closes tax loophole

A popular strategy used by owners of vacation homes to avoid paying capital gains on a sale was to convert a vacation home into a primary residence. This was accomplished by living in the home for two years out of the previous five before selling. Doing so qualified the sale for an exclusion from taxes for a profit of up to $250,000 for single filers and $500,000 for joint filers.

While the exclusion remains available, the IRS closed a loophole for vacation homes. For 2009 and later years, you pay regular cap gains taxes on the portion of the gain that's equivalent to the time you used the home as a vacation home after 2008.

Let's say you bought a vacation home on Jan. 1, 2002, and it becomes your primary residence on Jan. 1, 2010. Two years later, you qualify for the cap gains exclusion and decide to sell on Jan. 1, 2012. You're liable for capital gains taxes on 10% of the gain. Why? Because in 2009 the place was a vacation home. The exclusion is available for the other nine years -- 2002 to 2008, when the old rules applied, and Jan. 1, 2010 to Jan. 1, 2012, when the place was used as a primary residence.

This article provides general information about tax laws and consequences, but shouldn't be relied upon as tax or legal advice applicable to particular transactions or circumstances. Consult a tax professional for such advice; tax laws may vary by jurisdiction.

 

Stratton In the Summer

tech <p> </p> <p>[caption id="attachment_470" align="alignleft" width="150" caption="Carrie Mathews of Winhall Real Estate on Stratton Lake - Bondville"]<a href= "https://s3.amazonaws.com/files.usmre.com/5302/blog/files/2012/05/goodpaddlewkids.jpg"><img class="size-thumbnail wp-image-470" src= "https://s3.amazonaws.com/files.usmre.com/5302/blog/files/2012/05/goodpaddlewkids-150x150.jpg" alt="Standup Paddleboarding at Stratton Mountain" width="150" height="150" /></a>[/caption] </p> <p> Thinking that Stratton is all about winter... Not so! There are many great family activities here in the Stratton/Bromley Mtn areas in Vermont.     Paddleboards and kayaks  are available for rent from many of the local ski shops.    The <a title="Drysdale Tennis School" href="http://http://www.stratton.com/todo/drysdale/index.htm">Cliff Drysdale Tennis School at Stratton</a> runs excellent kid camps as well as for adults.   <a title= "Mountain School Summer Camps" href= "http://http://www.themountainschool.org/Pages/MSW_WhalPrograms/S0537FD92-072B5233.0/MSW%20Summer%20Camp%2012%20Brochure.pdf"> The Mountain School at Winhall</a> runs several camps : One in "exploring Our World"  working with teachers and visiting campers from China, one in theatre,one in reading and crafts and a sports camp with an emphasis on teamwork.  </p> <p>Homes and condos are available for rent by the weekend, week and month to you can tailor your time and vacation.   If you just love being here, now is a great time to purchase a vacation home that you can share with your family for many years.   Prices are still at a low.     A great <a title= "Strattonwald new listing" href= "http://http://www.winhallrealestate.com/realestate/detailview/80//4159497/"> new listing in Strattonwald</a> , is a 3 bedroom, 2.5 bath , fp, and family room just listed at $405,000.   </p> <p>[caption id="attachment_471" align="alignleft" width="150" caption="Strattonwald home $405,000"]<a href= "https://s3.amazonaws.com/files.usmre.com/5302/blog/files/2012/05/exterior.jpg"><img class="size-thumbnail wp-image-471" src= "https://s3.amazonaws.com/files.usmre.com/5302/blog/files/2012/05/exterior-150x150.jpg" alt="" width="150" height="150" /></a>[/caption] </p> <p>Strattonwald is a community of mostly vacation homes.  the community offers winter shuttle to Stratton and a Lake and two tennis courts for summer fun.     Homes are available in this area from $289,900 to $750,000.     It is not too late to book for a summer week, <a title="weanderlust at Stratton Mountain" href= "http://http://stratton.wanderlustfestival.com/">Wanderlust</a>  or the <a title="Vermont Summer Festival" href= "http://http://www.vt-summerfestival.com/">Vermont Summer Festival Horse Show.</a>  Give us a call.</p> <div class="mceTemp mceIEcenter"> </div> <p> </p>

Renegades at Stratton

tech <p align="center">Stratton Mountain, VT June 9, 2012</p> <p align="center">The Renegade Playground Challenge heads to beautiful Stratton Mountain, VT on June 9, 2012. Come join us for an awesome Renegade time. Hills, mud, obstacles, beer, music, and good times. Did I mention hills? Who knows? Maybe there will still be some snow left! This place is so nice you'll want to bring the family and stay the weekend.</p> <p align="center">Check out our <a href= "http://www.winhallrealestate.com/short_term_rentals/">website</a> for places to stay for the weekend and</p> <p align="center">Join Carrie's team by logging onto <a href= "http://www.renegadeplayground.com/">www.renegadeplayground.com</a>  and clicking on 'join team', find 'Team Mathews" and choose the 10am wave time...</p> <p align="center"><img src= "https://s3.amazonaws.com/files.usmre.com/5302/blog/misc/StrattonCoursefinal.jpg" alt="" width="700" height="488" /> </p> <p> </p>

Real Estate Market Strong at Stratton Mountain

The Stratton  and Bromley area real estate market has been very strong in the the last two months.   In that time, there have been 28 closings in Stratton/Bromley area  and at present there are 36 properties pending a closing!    NAR's 2023 Investment and Vacation Home Buyers survey indicated that "Vacation sales rose 7.0% in 2011".  " 42 % of these Buyers were cash buyers"  according to the survey.  We are definitely mirroring these trends.   The average vacation home buyer in the Stratton Mountain area is a family looking  to use weekends and vacations.   The Stratton  Mountain, Bromley Mountain and Manchester areas offer lots more than just skiing and shopping.    Memorial day Stratton Mountain will be hosting lots of activities from a rail Jam to a concert sponsored by the Stratton Foundation for Irene Disaster relief.   June 21 to 24 - Wanderlust - a nationally know yoga and music festival will be returning to the area.   This is a great time to rent a home or condo at Stratton  to  enjoy all that Vermont has to offer.    Starting in July the Vermont Summer Fesival horse show  returns with five weeks of top horse show competition.  Weather own or renting a place here at Stratton Mountain, summer is a great time to enjoy all that Vermont has to offer.

Golf Course Open

Golfing at Stratton 4/15/2012

 
  Skiing at Stratton ended early with all the warm weather and the Stratton Golf Course opened April 16th.    This is the Mallia family on Forest 9, warming up their game for a great summer of  Stratton golf.  
If you are a yogi,  the Wanderlust Festival, the one-of-a-kind yoga and music festival set within the nation's most inspiring natural scenery makes its return on the East Coast at Stratton Mountain,  June 21 to 24.   Our staff of rental agents will be happy to find a nice rental retreat should you wish to attend and stay in a hotel.    I have been a part of a nationwide chat about vacation real estate.   Our market has become very active with people looking at homes, condos and all price ranges.    Ski areas in Colorado to California are all experiencing  a similar upturn in their markets.       Summer provides lots to do here at  Stratton as well as great skiing.   Come visit and let us show you around.