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Is Buying Cheaper Than Renting in Maine?

by Fontaine Family

Buying Remains Cheaper Than Renting in 39 States!

In the latest Rent vs. Buy Report from Trulia, they explained that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States.

The updated numbers show that the range is an average of 3.5% less expensive in San Jose (CA), all the way up to 50.1% less expensive in Baton Rouge (LA), and 33.1% nationwide!

A study by GoBankingRates looked at the cost of renting vs. owning a home at the state level and concluded that in 39 states, it is actually ‘a little’ or ‘a lot’ cheaper to own (represented by the two shades of blue in the map below).

Buying Remains Cheaper Than Renting in 39 States! | Simplifying The Market

One of the main reasons owning a home has remained significantly cheaper than renting is the fact that interest rates have remained at or near historic lows. Freddie Mac reports that the current interest rate on a 30-year fixed rate mortgage is 3.91%.

Nationally, rates would have to reach 9.1%, a 128% increase over today’s average of 4.0%, for renting to be cheaper than buying. Rates haven’t been that high since January of 1995, according to Freddie Mac.

Bottom Line
Buying a home makes sense socially and financially. If you are one of the many renters who would like to evaluate your ability to buy this year, let’s get together and find you your dream home.

Are you ready to start on the paty to financial independence by purchasing your own home? 
Give us a call today, and let one of the experienced Fontaine agents go to work for you!

Auburn:  (207)784-3800
Scarborough:  (207)289-3830

Thank You for the Cans!

by Fontaine Family

Our Communities Are Awesome!

Thank you to everyone who donated their cans and bottles to help us fill up the moving van for Q97.9's Cans for a Cure!  Thanks to you, we not only filled our moving van to overflowing...we also filled up a full sized pick-up truck!  Businesses and individuals in the communities around both our Auburn office and our Scarborough offices were very generous, bringing in donations until the last minute! 


We all know someone who has been touched by cancer.  That is why this event is so close to our hearts...it raises money for the Cancer Community Center which helps those that have been affected by cancer. 

Thank you once again...
we are proud to be part of such caring communities! 

We Want Your Empties

by Fontaine Family

We Want Your Empties! 

October is Breast Cancer Awareness Month
and we are once again collecting cans and bottles for
Q97.9's Cans-For-A-Cure!

Drop your empties off at either of our locations between Monday, October 2nd and Wednesday, October 11th to help fight cancer in Maine!
Call us at (207)784-3800 and we can schedule a pick-up in the Lewiston/Auburn area!

Maine Green Homes are Here!

by Fontaine Family

Would You Love To Have A New Green Home?
How about a Green and Affordable New Business Location?

If you would like a green home built with whatever layout you want, that could be built quickly, and save on future costs & maintenance...
We have the solution for you!


 

Shelter+7 is a New cutting edge state-of-the-art eco-green "ultra-high performance building shell system"TM offers a healthier lifestyle as well as...

  • A very short construction cycle that reduces carrying cost and wait time.
  • Extremely rugged structure that can withstand high winds and heavy snow loads.
  • Low maintenance and low energy costs, increasing disposable income and the time to enjoy family, travel, and life.
  • Unlimited floor plan design opportunities to meet everyone's living, socializing, entertaining, and work preferences.
  • Smart home technology.

Best of all, they are being built right here in Maine! 

These buildings are very versatile and can be uses for a Residential home, Vacation home, Commercial building, or even Condos or Apartments.  There are unlimited design options with the floor plan and buildings can be constructed and weather tight in as few as 7-10 days!


Visit our Green Homes In Maine site to find out more and see photos and video of the building process!

Are you ready to get started on your Green Home Dream?  
Contact our Exclusive Listing agents to design on your Maine Green Home or Building today!

Click here to contact Charmaine Raby or call (207)577-1034
Click here to contact Caleb Labrie or call (207)754-4275

Download your FREE Report
7 Benefits of Archtype Green Home
HERE!

Leaf Peeping in Maine

by Fontaine Family

Here Comes the Fall Colors!

It is hard to beat the beauty of Maine in the fall!  People come from all over to see the vibrant colors. 


Are you planning on taking a Maine leaf peeping trip this fall?
Here are some suggestions from MaineFoliage.com of when and where to plan your leaf peeping trip...

September 15 - 20:
This is the very early stage of our fall foliage season. To find color, we suggest you travel to northern Maine - Aroostook County, Aroostook State Park, Allagash Wilderness Waterway, Fort Kent, Presque Isle, Ashland, Mars Hill. Peak color typically occurs in these locations the last week in September.

September 22 - 27:
Maine is traditionally experiencing less than 30% color change at this time of the year. Higher elevations in northern areas display the most color. We suggest you visit Sherman Mills, Baxter State Park, Shin Pond, Ashland and Portage.

September 29 - October 4:
Maine's hillsides are beginning to blush with more than half of the trees displaying fall colors. The best locations to leaf peep are anywhere in northern Maine, like Aroostook State Park, Route 11, Eagle Lake Public Reserved Land unit, Pittston Farm, Kineo and Rockwood.

October 6 - 11:
This is the best week for Peak Color in central Maine. Fall foliage color is in full swing in western and central Maine: Visit Grafton Notch State Park, Route 17 near Richardson Lake, Bigelow Preserve, Route 27/16 in Carrabassett Valley, Cathedral Pines Rest Area in Eustis, the lookout from Eustis Ridge, Mt. Blue State Park in Weld, Tumbledown Mountain Range, Greenville, Moosehead, Jackman, Lily Bay State Park, Rockwood, Sebec Lake and Dover-Foxcroft.

October 13 - 18:
Best week for Peak Color in western and southern Maine This is one of the peak weeks for leaf peeping as peak conditions are coloring Maine hillsides. Visit Fryeburg, Bethel, Rangeley, Mt. Blue, Skowhegan, Farmington, Rumford, north of Portland and the greater Augusta area.

October 20 - 25:
Best week for Peak Color in southern and coastal Maine. Find peak color south of Portland, Sebago Lake region, Bridgton Limerick, Waterboro, Kennebunk, Kennebunkport, Wells and York.

Please note that these dates are typical projections dates and can fluctuate by 2-3 days.

Simple Ways to Save A Downpayment

by Fontaine Family

A Dollar A Day...
That's all it takes to start saving for the downpayment on your new home!

Approximately 60 percent of homebuyers financed their home using a 6 percent – or less – down payment, according to data from the National Association of REALTORS®.
With the most recent median existing-home price clocking in at $258,300, a 6 percent down payment is $15,498.

Here are some simple suggestions from NAR on how potential buyers can cut costs and save for that down payment.

Are you considering buying a home this fall?  We can help you get started! 
Give us a call to get started today! 
One of our talented buyer agents will walk you through the process...step by step.

Auburn: (207)784-3800
Scarborough: (207)289-3830

Maine Real Estate August Recap

by Fontaine Family

What happened in the Maine Real Estate Market in August? 


 Androscoggin County 

174 new residential listings entered the market in July with an average list price of $184,450.  In that same timeframe 148 residential listings sold with an average sale price of $164,451.  Those listings took an average of 46 days to sell.  Just for comparison, during August of 2016, 122 properties sold taking an average of 69 days to sell.  The market in Androscoggin County is moving faster than last year!   

Boy are markets different from area to area in Maine….

Cumberland County

692 new residential listings entered the market with an average list price of $368,455.  During August, 531 residential listings sold with and average sale price of $350,717.  They took an average of 45 days to sell.  The Cumberland County market is moving even faster than Androscoggin County and check out the difference in prices...Wow!

  Even within the same county there are differences…sometimes huge differences.  That’s where an experienced agent is so important.  They will help you compare the home you are selling or the home you are interested in buying to other comparable properties in comparable areas.  As a seller, this will help you price your home competitively to give you the best chance to sell quickly for best possible price.  As a buyer, it will help you make an informed decision about what a home is worth so you can have the best chance to purchase your next home without spending more than you should. 

Do you have questions about the market in your area?  Click here to e-mail us and one of our licensed agents will get back to you to answer your questions!  

All statistics are from the MREIS as of 9/5/2017

5 Tips for Buying in a Tight Market

by Fontaine Family

The Real Estate Market in Maine is Changing!
Use these 5 tips to improve your chances of buying your dream home this year!

When inventory is low, home prices tend to go up. Attempting to purchase a house in this type of market can make the already complex process of buying a home even more overwhelming. To help buyers successfully get through the buying process in a tight inventory market with as little stress and difficulty as possible, the National Association of Realtors® has these five suggestion:

1. Determine and stick to a budget. Before beginning the house hunting process, prospective homebuyers should receive preapproval from one or more lenders to verify the amount of money they are qualified to borrow. Then, after taking into account additional costs of ownership such as taxes, utilities and insurance, buyers should determine a final budget they can comfortably afford. When listings are scarce, bidding wars can drive up prices, so buyers must be prepared to walk away if the asking price surpasses their budget.

2. Identify desired neighborhoods and home wants versus needs. When housing inventory is tight, buyers may need to compromise on what they believe they want from a home. Certain wants, such as stainless appliances or hardwood floors, can be added later. However, if a buyer wants to be in a specific school district or have a decent sized backyard, those cannot be addressed later and must be taken into account during the house hunting process.

3. Be ready to make a decision quickly. In a seller’s market, homes rarely stay on the market long, so when a house that is in their budget and checks off all of their needs come along, buyers should not hesitate. Buyers should be ready to submit an offer quickly, or they may risk missing out on the home altogether.

4. Bid competitively and limit contingencies. It is tempting to submit a low offer as a starting bid, but in a seller’s market buyers need to put forward their highest offer from the very beginning or they are likely to lose out on the home. It is also important to remember that in multiple bidding situations it is not always the highest offer that is most attractive to the seller but the one with the fewest contingencies. Removing restrictions related to the sale of a current home and being flexible with things like the move-in date can make a bid stand out to a seller.

5. Work with a Realtor®. All real estate is local, so it is important to work with an agent who is a Realtor®, a member of the National Association of Realtors®, and who is familiar with the areas and neighborhoods the homebuyers are considering. Realtors® are the most trusted resource for real estate information and have unparalleled knowledge of their communities; they can give buyers the competitive advantage needed in a tight market.

From National Association of Realtors - May 2017

Tips for Preparing Your House For Sale

by Fontaine Family

Tips for Preparing Your House For Sale

When you are selling your house, you want to be the most attractive house in your price range. 
You want buyers to be afraid that someone else is going to buy your house before they do. 
Try out these tips to get your home ready to sell for top dollar & fas
ter

 

Maine Real Estate July Recap

by Fontaine Family

What happened in the Maine Real Estate Market in July? 

 Androscoggin County 

157 new residential listings entered the market in July with an average list price of $188,766.  In that same timeframe 137 residential listings sold with an average sale price of $155,516.  Those listings took an average of 60 days to sell.  Just for comparison, the average residential sale price in July of 2016 in Androscoggin County was $149,944. 

Boy are markets different from area to area in Maine….

Cumberland County

582 new residential listings entered the market with an average list price of $379,695.  During July 502 residential listings sold with and average sale price of $353,371.  They took an average of 37 days to sell.  The average sale price of residential properties sold in July of 2016 was $329,057.

Quite a bit different from Androscoggin County, huh?
  Even within the same county there are differences…sometimes huge differences.  That’s where an experienced agent is so important.  They will help you compare the home you are selling or the home you are interested in buying to other comparable properties in comparable areas.  As a seller, this will help you price your home competitively to give you the best chance to sell quickly for best possible price.  As a buyer, it will help you make an informed decision about what a home is worth so you can have the best chance to purchase your next home without spending more than you should. 

Do you have questions about the market in your area?  Click here to e-mail us and one of our licensed agents will get back to you to answer your questions! 

All information from Maine Real Estate Information Systems as of 8/9/2017.

Displaying blog entries 1-10 of 162

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Fontaine Family - The Real Estate Leader
336 Center St. Auburn, ME 04210
432 US Route 1 Scarborough ME 04074
(207)784-3800 Auburn
(207)289-3830 Scarborough
Fax: (207)786-2957

We respect your privacy. We will never sell or give your data to anyone.

Listing data is derived in whole or in part from the Maine IDX and is for consumers' personal, non-commercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified. © 2017 Maine Real Estate Information System, Inc. All Rights Reserved.

 

 


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