[sugarmaple]

You are right, it is still pretty slow in VT, even south-central VT area. There is, probably a 10-13% drop in prices over the last few months...and yes, fair market value can be 'relative'...however I think a seller, whether working with an agent or on their own, can get a good idea of the value including with the Town assessment, comparing it to recent sales in the area [property transfers]...buyers are asking more questions, as they should, sellers knowing more about their property is also a good thing and important.

Land values are also fluctuating although I think prices are on the rise for land. One can always build a new house but one cannot build more land.

[pucabear]

As a realtor, who works for a builder, land prices are more negotiable at this point as well. Your estimation of price dropping is pretty accurate, from what I have experienced with existing homes.

[sugarmaple]

I too am a realtor and work in the south-central area and agree that some land prices are more negotiable these days however land near or on ski areas are still insane. I am finding that some customers are asking me to find "land" with some sort of something on it, whether a run down cabin, etc., because it is easier for them to get a mortgage since the land would be considered "improved land" rather than raw land...more banks are beginning to give mortgages on land although I think that is harder to appraise than homes, including giving fair market value...what are you finding?