Only a relatively small number of the real estate holdings in the Mad
River Valley are suffering the painful effects felt in real estate
markets across the country. Those effects are likely due to
dramatically increased unemployment leading to unprecedented mortgage
foreclosures. By contrast, both Vermont and the Mad River Valley enjoy
among the lowest foreclosure rates in the country. Perhaps the
conservative New England work ethic will carry us through these
troubling financial times.
Another important point to consider is real estate ownership offers
many tangible benefits in addition to simply "a place to call home."
Energy and first-time homebuyer tax credits are real, and the deduction
of mortgage interest and property taxes when calculating income tax
liability are among the few legitimate tax reduction strategies
available. Additional tax advantages can be taken in the form of
depreciation if real estate is held for investment purposes, and this
is an investment strategy my accountant consistently recommends.
I currently own a number of real estate properties in the Mad River
Valley and those assets constitute a significant portion of my
investment portfolio. While many folks are in desperate situations as a
result of either real estate ownership in other parts of the country
and/or poorly performing stock market investments, I take great comfort
in knowing Mad River Valley real estate values have been and I expect
will continue to be the most stable portion of my investment portfolio.
Dion lives in Waitsfield.
