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Are Mortgage Rates Headed Up?

by Fontaine Family

Where Are Mortgage Rates Headed?  
This Winter?  Next Year?

The interest rate you pay on your home mortgage has a direct impact on your monthly payment. The higher the rate the greater the payment will be. That is why it is important to look at where rates are headed when deciding to buy now or wait until next year.

Below is a chart created using Freddie Mac’s October 2015 U.S. Economic & Housing Marketing Outlook. As you can see interest rates are projected to increase steadily over the course of the next 12 months.

 

Where Are Mortgage Rates Headed? This Winter? Next Year? | Simplifying The Market

How Will This Impact Your Mortgage Payment?

Depending on the amount of the loan that you secure, a half of a percent (.5%) increase in interest rate can increase your monthly mortgage payment significantly.  
According to CoreLogic’s latest Home Price Index, national home prices have appreciated 6.4% from this time last year and are predicted to be 4.7% higher next year.
  
If both the predictions of home price and interest rate increases become reality, families would wind up paying considerably more for their next home.

Bottom Line

Even a small increase in interest rate can impact your family’s wealth. Let's meet to evaluate your ability to purchase your dream home.

Welcome To The Team!

by Fontaine Family

We are excited to introduce you to 3 new team members...

Mathew Zimmerman 
joins our Scarborough office.  Mat grew up in Cape Elizabeth and currently lives in Portland with his wife, Liz and 4 year old, Lily.  Mat has 5 years experienced as a licensed agent and works with both buyers and sellers. Mat can be reached at (207)200-8780 or mathew@fontainteam.com.

Jacqueline Wing 
grew up in Gray and recently moved back to Gray after living in Yarmouth for 18 years.  She is the proud Mother of 3 sons and grandmother to 3 grandchildren.  Jackie joins the team with a wealth of business and customer relations experience.  She will be working out of out Scarborough office, using her experience to help both buyers and sellers.  Jackie can be reached at (207)846-6640 or jackie@fontaineteam.com.

]

Lilly Huang 
joins our Auburn office bringing her experience as a business owner to her real estate career.  Lilly has owned and run Wei Li Restaurant for 17 years and has spent 3 years as a certified instructor in food safety. She is fluent in 4 languages...English, Mandarin, Cantonese, & Taiwanese. Lilly lives in Auburn and has 2 daughters.  She looks forward to working with buyers including the Asian community.  Lilly can be reached at (207)393-0085 or lilly@fontaineteam.com.

Build Wealth Through Homeownership

by Fontaine Family

Homeownership Builds Wealth and Offers Stability


The most recent Housing Pulse Survey released by the National Association of Realtors revealed that the two major reasons Americans prefer owning their own home instead of renting are:

  1. They want the opportunity to build equity.
  2. They want a stable and safe environment.

Building Equity

In a recent article, John Taylor, CEO of the National Community Reinvestment Coalition, explained that those who lack the opportunity to become homeowners have a weakened ability to reinvest their wealth:

“We traditionally have been huge supporters of homeownership. We see it as a way to provide stability for households but also as an asset-building strategy. If you continue to be a renter, locked out of the homeownership arena, increasingly those things are further and further out of reach. They’re joined at the hip. They perpetuate each other.”

Family Stability

Does owning your home really create a more stable environment for your family?

A survey of property managers conducted by rent.com last month disclosed two reasons tenants should feel less stable with their housing situation:

  • 68% of property managers predict that rental rates will continue to rise in the next year by an average of 8%.
  • 53% of property managers said that they were more likely to bring in a new tenant at a higher rate than negotiate and renew a lease with a current tenant they already know.

We can see from these survey results that renting will provide anything but a stable environment in the near future.

Bottom Line

Homeowners enjoy a more stable environment and at the same time are  given the opportunity to build their family’s net worth.

Are you ready for the opportunity to build wealth and stablity through homeownership? 
Give us a call today to get started!

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

Should I Sell This Winter?

by Fontaine Family

Should I Sell my 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!

Displaying blog entries 1-4 of 4

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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

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