Better Buildings Residential Network member NeighborWorks of Western Vermont (NWWVT) has added a realty division and hired a licensed real estate broker to fill a niche in the marketplace for first-time homebuyers looking for affordable, energy-efficient properties to call home.
“We’ve had homebuyer education counseling and a lending program that helps people who might not otherwise qualify for commercial mortgage lending, but there was the gap between finding the house and finding the right house,” NWWVT Executive Director Ludy Biddle said.
NWWVT currently has a small inventory of previously foreclosed Vermont Housing Finance Agency properties for sale that have had energy efficiency upgrades. Some homes’ titles have covenants that will keep them perpetually affordable for the next buyer. NWWVT will also accept private-sector listings to give potential buyers access to a greater number of homes for sale.
Biddle doesn’t regard the new service as competition for the area’s real estate agents. ”We think we are filling an important niche that is underserved. Selling homes that have been up for sale a long time should help expand the market activity, not shrink it,” she said.
Learn more about NWWVT.