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A Tale of Two Markets

by Fontaine Family

A Tale of Two Markets
INFOGRAPHIC

A Tale of Two Markets [INFOGRAPHIC] | Simplifying The Market 

Some Highlights:

  • A trend that has been emerging for some time now is the contrast between inventory & demand in the Premium & Luxury Markets vs. the Starter & Trade-Up Home Markets and what that’s, in turn, doing to prices!
  • Inventory continues to rise in the luxury & premium home markets which is causing prices to cool.
  • Demand continues to rise with low inventory in the starter & trade-up home markets, causing prices to rise!

Are you interested in knowing more about today's market? 
Give us a call at (207)784-3800 or (207)289-3830!


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Buyer Demand Outpacing Supply of Homes

by Fontaine Family

Buyer Demand Still Outpacing the Supply of Homes for Sale

The price of any item is determined by the supply of that item, as well as market demand. The National Association of REALTORS (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for their monthly REALTORS Confidence Index.

Their latest edition sheds some light on the relationship between Seller Traffic (supply) and Buyer Traffic (demand).

Buyer Demand

The map below was created after asking the question: “How would you rate buyer traffic in your area?”

Buyer Demand Still Outpacing the Supply of Homes for Sale | Simplifying The Market

The darker the blue, the stronger the demand for homes in that area. Only four states had a ‘stable’ demand level.

Seller Supply

The index also asked: “How would you rate seller traffic in your area?”

As you can see from the map below, 25 states reported ‘weak’ seller traffic, 21 states reported ‘stable’ seller traffic, 3 states and Washington D.C. reported ‘strong’ seller traffic, and only 1 state reported ‘very strong’ seller traffic. This means there are far fewer homes on the market than what is needed to satisfy the buyers who are out looking for their dream homes.

Buyer Demand Still Outpacing the Supply of Homes for Sale | Simplifying The Market

Bottom Line

Looking at the maps above, it is not hard to see why prices are appreciating in many areas of the country. Until the supply of homes for sale starts to meet buyer demand, prices will continue to increase. If you are debating listing your home for sale, let’s get together to help you capitalize on the demand in the market now!

Housing Market Expected to Spring Forward!

by Fontaine Family
Housing Market Expected To "Spring Forward" This Year | Simplifying The Market

Housing Market Expected To “Spring Forward” This Year

Just like our clocks this weekend in the majority of the country, the housing market will soon “spring forward!” 
Similar to tension in a spring, the lack of inventory available for sale in the market right now is what is holding back the market.
Many potential sellers believe that waiting until Spring is in their best interest, and traditionally they would have been right.
Buyer demand has seasonality to it, which usually falls off in the winter months, especially in areas of the country impacted by arctic temperatures and conditions.

That hasn’t happened this year.

Demand for housing has remained strong as mortgage rates have remained near historic lows.
Even with the recent increase in rates, buyers are still able to lock in an affordable monthly payment.
Many more buyers are jumping off the fence and into the market to secure a lower rate.

The National Association of Realtors (NAR) recently reported that the top 10 dates sellers listed their homes in 2017 all fell in April, May, or June.
Those who act quickly and list now could benefit greatly from additional exposure to buyers prior to a flood of more competition coming to market in the next few months.

Bottom Line 
If you are planning on selling your home in 2018, let’s get together to evaluate the opportunities in our market.
Call us at (207)784-3800 or (207)289-3830 to get started today! 

What's Happening in the Real Estate Market in Androscoggin County?

by Fontaine Family

Androscoggin County Real Estate Market   2017 vs 2016 Statistics

We hear all kinds of statistics on the news about the real estate market, but real estate varies greatly from region to region.  Check out our infographic comparing the real estate market in Androscoggin County in 2017 vs. 2016.  Check back next week to see the statistics for Cumberland County!

Are you ready to buy or sell a home in Androscoggin County? 
Give us a call today at (207)784-3800!

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

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

Maine Real Estate Update

by Fontaine Family

The Real Estate Market is Looking Up!

In September the amount of single family homes sold rose 17.16% over September of last year while sale prices rose 5.97%.  That's good news for sellers and maybe a wake-up call for buyers.  We may have seen the low point of the market for a while, so if you are considering buying...you may want to do it before prices rise more.


Check out these numbers for the third quarter of the year, running from July 1st - September 30th, 2015. 

State of Maine  5042 single family homes sold, up from 4402 in the 3rd quarter of 2014 - up 14.54%. The median sale price for 2015 was $187,500 up 4.75% from 2014.

So how does that break down from area to area? 

Androscoggin County  290 single family homes sold, up from 270 in the 3rd quarter of 2014 - up 7.41%. The median sale price for 2015 was $139,750 up 3.52% from 2014.

Cumberland County  1395 single family homes sold, up from 1161 in the 3rd quarter of 2014 - up 20.16%. The median sale price for 2015 was $256,800 up 4.60% from 2014.

Wow...they say the real estate market fluctuated from area to area and these numbers sure do prove that!

Kennebec County  The median sale price for the 3rd quarter of 2015 was $145,000 - up 1.65% from 2014. 440 single family homes sold, up from 354 in 2014 - up 24.29%...Wow!  Still that is not the highest in the state.  Washington County saw a 40.58% increase in single family home sales over last year, but still there were only 97 sales.

Oxford County  The median sale price for the 3rd quarter of 2015 was $138,750 - up 6.73% from 2014. 194 single family homes sold, up from 183 in 2014 - up 6.01%.

Sagadahoc County 140 single family homes sold, up from 127 in the 3rd quarter of 2014 - up 10.24%. The median sale price was $196,500 up 1.03% from 2014.

York County  865 single family homes sold, up from 775 in the 3rd quarter of 2014 - up 11.61%. The median sale price was $230,000 up 2.27% from 2014.

Click here to see the full report from Maine Listings. 

If you are ready to sell your home, or ready to buy before prices rise more, give us a call today to get started with one of our talented agents.

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

Displaying blog entries 1-7 of 7

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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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