Real Estate Information Archive

Blog

Displaying blog entries 1-10 of 24

Buying or Selling in 2018? Hire a Professional!

by Fontaine Family

 

Are Buying or Selling in 2018?
Here are 5 Reasons You Should Hire A Professional!

As we start out 2018, most of us think of what our goals are for the New Year. 
If your goal includes buying or selling real estate, you need a Real Estate Professional on your team! 
Choose a professional who knows your local market,
and they will be able to help you achieve your real estate goals for 2018! 


Here are a few reasons hiring a Real Estate Professional is the right choice!

1.  PAPERWORK
A Real Estate Professional will help with all disclosures & paperwork necessary in today's heavily regulated real estate market.

2.  EXPERIENCE
A good Real Estate Professional is well educated in and experienced in navigating the entire sales process.

3.  NEGOTIATIONS
A Real Estate Professional will work on your behalf and act as a "buffer" in negotiations with all parties throughout the process.

4.  PRICING
A Real Estate Professional will help you understand today's real estate values when setting the price of your home, or when writing an offer to purchase.

5.  UNDERSTANDING OF CURRENT MARKET CONDITIONS
A Real Estate Professional will be able to explain today's local market conditions and explain what it means to you in your individual situation.

Are you ready to get started today?  E-mail us at brenda@fontaineteam.com or call us at (207)784-3800 or (207)289-3830!
 

Should I Sell My Maine Home This Winter?

by Fontaine Family

Should I Sell my Maine Home this Winter...
or should I wait until spring? 

This might be the most common question we hear this time of year.  Winter may not be the most convenient time to move, but there are advantages to selling in the winter.


1.  Less Competition 
In the spring, For Sale signs pop up like daffodils!  In the winter, there are less homes for sale, so there is less competition on the market increasing the chances that buyers will look at your home. If there are less homes for a potential buyer to choose from, the probability that your home will have showings...and offers...increases! 

2.  Serious Buyers Are Shopping 
Many sellers believe that there are not buyers looking in the winter.  The truth is, there are always buyers looking to buy.  Serious buyers usually don't stop their home search just because winter rolls around.  Serious buyers want to buy no matter what time of year it is! 

3.  Quicker Timeframes 
In the winter months, professionals typically involved in a real estate transaction such as appraisers, lenders, and inspectors, are often more available so your transaction may be able to happen more quickly. 

4.  Seasonal Staging 
Maine can be absolutely beautiful in the wintertime and decorating for the holidays can be easily turned into seasonal staging.  That festive, homey touch may be exactly what a buyer needs to see themselves living in your home...and that leads to offers! 

If you would like to discuss whether selling your home this winter is right for you...just fill out the form below, and one of our talented agents will contact you shortly!

Should Boomers Buy or Rent After Selling?

by Fontaine Family

Should Boomers Buy or Rent after Selling?

 

In a recent CNBC article, it was reported that many baby boomers are selling their current homes and moving into rentals, rather than purchasing another home.

“Between 2009 and 2015, the number of renters aged 55 or above rose 28 percent, while those aged 34 or younger only increased 3 percent…Meanwhile, more than 5 million baby boomers across the nation are expected to rent their next home by 2020, according to a 2016 analysis from Freddie Mac.”  This makes sense in the short term for many reasons. If you are moving to a different part of town or a new region of the country, you may decide to rent until you pick the perfect home in an area you love. However, is renting a good long-term strategy?

A mortgage payment remains fixed. Rents, however…

The Census Bureau recently released their 2017 third quarter median rent numbers. Here is a graph showing rent increases from 1988 until today:

Should Boomers Buy or Rent after Selling? | Simplifying The Market

As you can see, rents have steadily increased and are showing no signs of slowing down. If you are faced with making the decision of whether you should rent or buy your next home, you should take this into consideration.

Bottom Line

One way to protect yourself from rising rents is to lock in your housing expense by buying a home instead of renting. Let’s get together so we can help you decide what the best step is for you and your family!

Call us at (207)784-3800 or (207)289-3830!

Why Is November The Best Month To Sell?

by Fontaine Family

Should You Sell Your Home In November?
November Could Be The Best Month To Sell!


Most homeowners think that once fall comes around, the home buyers disappear.  That idea may have been true at one time, but in today's market with a shortage of inventory, your home may be more likely to sell more quickly and closer to asking price in November and December. 

In today's real estate market, half of buyers are not married, so their decisions may not be based on children's school schedules.  Buyers who are looking in November could be moving because of job changes, they may have been too busy during the summer months, or they could have waited until after the busy season in hopes of getting a better deal.  November house hunters are usually more motivated and less deterred by things like snow, short days, and holidays.  If you make your house ready to view, buyers are likely to make an offer close to list price! 

Sellers tend to think that it isn't worth trying to sell during November and December and they take their homes off the market.  That could be a huge mistake for sellers.  Serious buyers who are in the market have fewer homes to choose from so there is a sense of urgency to make a good offer before someone else beats them to it!  With an already short inventory of homes for sale in Maine...we could be expecting multiple offers on listings that are priced right this November and December!  

Are you ready to sell your Maine home this November? 
Call us at (207)784-3800 or (207)289-3830 to get started today! 

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

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.

Housing Inventory Hits New Low

by Fontaine Family

U.S. Housing Inventory Hits a New Low… List Your House TODAY!

Every summer, families across the country decide if this will be the year they sell their current house and move into their dream home.

Mortgage rates have hovered around 4% for all of 2017, forcing buyers off the fence and into the market, resulting in incredibly strong demand RIGHT NOW!! At the same time, inventory levels of homes for sale have dropped dramatically as compared to this time last year.

Trulia reported that “U.S. home inventory has tumbled 8.9% over the past year and has now fallen for nine consecutive quarters.” There is now 20% less inventory than there was five years ago.

Here is a chart showing the decrease in inventory levels by category:

U.S. Housing Inventory Hits a New Low… List Your House TODAY! | Simplifying The Market

Bottom Line

Demand for your home is very strong right now while your competition (other homes for sale) is at a historically low level. If you are thinking of selling in 2017, now may be the perfect time.

Are You Ready To Sell?

by Fontaine Family

If you are considering selling,
now could be the time! 

Homes are selling fast! 

SOLD in 2 days for OVER asking price!

SOLD in 5 days for FULL PRICE!

UNDER CONTRACT in 9 days!

UNDER CONTRACT in 3 days!

UNDER CONTRACT in 4 days!

UNDER CONTRACT in 3 days!

If you are considering selling this summer, give us a call to get started today! 
We may be able to sell your house in just days!

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

Buyer's Market or Seller's Market

by Fontaine Family

Maine's Real Estate Market Is Hot!
Is it a Buyer's Market or a Seller's Market?


A balanced marked typically has about 6 months of inventory on the market. 

A Seller's Market is when there is not enough inventory to meet the demand of the market. When you fall below 6 months of inventory on the market, you have a Seller's Market.

A Buyer's Market is when the supply of property exceeds the demand of buyers. When there is more than 6 months of inventory on the market, you have a Buyer's Market.

So what is the market doing in Maine? 
It depends on where you are! The market is so different from area to area, it could be a Buyer's Market in one county and a Seller's Market in another. 

  • Androscoggin County - Seller's Market - 4.3 months of inventory
  • Cumberland County - Seller's Market - 3.4 months of inventory
  • Franklin County - Buyer's Market - 14.8 months of inventory
  • Kennebec County - Balanced Market - 6.5 months of inventory
  • Oxford County - Buyer's Market - 8.8 months of inventory
  • Sagadahoc County - Seller's Market - 4.6 months on inventory
  • Washington County - Buyer's Market - 19 months of inventory
  • York County - Seller's Market - 4.5 months of inventory

The market is changing fast so next month, this could be a different story. 

Do you have questions about the market in your area? 
Let one of our talented agents answer your questions. 
Call us today! 
Auburn: (207)784-3800
Scarborough: (207)289-3830

Maine Homes Wanted!

by Fontaine Family

Looking for Maine Homes to Sell!

We have buyers looking for homes to buy and the market is experiencing a shortage of inventory. 

If you have considered selling, and your home fits any of the descriptions below, give us a call today!
We might have a buyer waiting and ready to buy your home! 


We have buyers looking for...

Buxton, Standish or Scarborough

  • Home offering owner financing - up to $150,000

Cape Elizabeth or Scarborough

  • Luxury Home close to the water with a chef's kitchen - up to $1,000,000

Lewiston/Auburn

  • Any Style home with 2 bedrooms - up to $100,000
  • Victorian style home - up to $200,000
  • Home with at least 2 acres of land - up to $140,000
  • Home with and in-law unit or nice 2 Unit - up to $200,000
  • Lewiston home - between $175,000 and $250,000
  • Home with lots of Acreage including Lewiston/Auburn and surrounding areas - up to $450,000

Gardiner, Randolph, or Chelsea

  • 2 Bedroom home - up to $100,000

Gorham, Windham, or Scarborough

  • Cape with 2-3 bedrooms - up to $275,000

Greene, Turner, Leeds, Sabattus, or Wales

  • Ranch or Cape with 3 bedrooms - up to $275,000

Gardiner or Litchfield

  • Land - up to $35,000

Gorham or Windham

  • Cape with 3 bedrooms, 2 baths and a 1st floor bedroom - up to $300,000

Lisbon

  • Home with 2 bedrooms - up to $125,000
  • Colonial or Cape with 3 bedrooms, 2 bathrooms, & 2 car garage - up to $250,000

Old Orchard Beach or Brunswick

  • Multi-Unit property - up to $400,000

Portland or South Portland

  • Home in a walkable neighborhood with 2 bedrooms - up to $250,000
  • Condo with 2 bedrooms - up to $300,000
  • Multi-Units with 2-3 units - up to $450,000
  • Land - up to $130,000

South Portland

  • Condo or Single Family - up to $150,000

Scarborough, South Portland, Falmouth, or Cumberland

  • Newer home with 4 bedrooms, 3 baths, and a 1st floor master - up to $500,000

Standish, Raymond, or Windham

  • Waterfront on a small pond - up to $275,000

Yarmouth or Cumberland

  • Home in a neighborhood setting with 3 bedrooms & 2 baths - up to $500,000

 

or call us at 207-784-3800 in Auburn
or 207-289-3830 in Scarborough

Displaying blog entries 1-10 of 24

Share This Page

Contact Information

Photo of  Real Estate
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

Existing Users


Current My Listing Manager Members Login Here:

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.

 

 


Privacy Policy click here