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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

5 Tips for Spring Home Buying

by Fontaine Family

5 Tips for Buying a Home in the Spring Market

Spring in the Real Estate Market is typically the busiest time of year.  There are more buyers out there looking and properties are selling fast!  The market is more competitive in the spring than in other times of the year.  That is why it is so important to be prepared when you plan to buy a home in the spring market. 


Here are a few tips to help you buy your new home this spring:

Get Preapproved By A Local Lender 
Shop around and find out who can offer the best program for your situation and then get a pre-approval.  Having that in hand will make your offer more attractive to sellers.  Most banks will not even consider an offer on a short sale or a foreclosure property without a pre-approval or a proof of funds letter.

Hire A Buyer Agent 
Choose an agent who knows the area and who you are comfortable with and then sign an agreement to have the represent you.  If you are just calling around to the listing agent, there is nobody looking out for you during one of the biggest purchases you will ever make.  In most cases the fee for the buyer agent is paid by the seller anyway so why wouldn't you have someone working for your best interests? 

Accept That There Is No Perfect House 
Decide what your most important "must-haves" are and what you are willing to compromise on.  No house is perfect...they might need some work, might not have a room as big as wanted, might have less land, or might not be in the perfect location.  What is most important to you?

Prepare To Move Quickly 
When you fall in love with a house, be prepared to make an offer quickly.  In the spring market, properties can sell quickly so if you don't make an offer quickly...someone might beat you to it.

Don't Be Opposed To Negotiating 
This time of year it is common to have multiple offers on the same property.  If you get stuck on getting the house for less that it is listed for, instead of what it is worth, you could miss out on a great house.  Negotiating on closing date can also be attractive to a seller. 

Buying a home is a big decision.  Being prepared and having the right agent to advise you along the way will make the process much easier and give you a better chance at finding your dream home!  Are you ready to start your search? 

Call us today to meet with one of our experienced buyer's agents.

- See more at: http://www.brendafontaine.com/Newsletter#sthash.6cpqD2tr.dpuf

4 Great Reasons To Buy This Spring

by Fontaine Family

Spring is Here...
and it's a great time to buy a home!
Here are 4 great reasons to buy this spring...

 

Spring Welcome Birdhouse

1. Prices Will Continue to Rise

CoreLogic’s latest Home Price Index reports that home prices have appreciated by 6.9% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 4.8% over the next year.

The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense.

2. Mortgage Interest Rates Are Projected to Increase

Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have remained around 4% over the last couple months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac & the National Association of Realtors are in unison, projecting that rates will increase by at least a half a percentage point this time next year.

An increase in rates will impact YOUR monthly mortgage payment. A year from now, your housing expense will increase if a mortgage is necessary to buy your next home.

3. Either Way, You are Paying a Mortgage 

There are some renters who have not yet purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent-free, you are paying a mortgage - either yours or your landlord’s.

As an owner, your mortgage payment is a form of ‘forced savings’ that allows you to build equity in your home that you can tap into later in life. As a renter, you guarantee your landlord is the person with that equity.

Are you ready to put your housing cost to work for you?

4. It’s Time to Move on with Your Life

The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise.

But what if they weren’t? Would you wait?

Look at the actual reason you are buying and decide if it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer or you just want to have control over renovations, maybe now is the time to buy.

If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings.

Home Buying Tips for the Spring Market

by Fontaine Family

5 Tips for Buying a Home in the Spring Market

Spring in the Real Estate Market is typically the busiest time of year.  There are more buyers out there looking and properties are selling fast!  The market is more competitive in the spring than in other times of the year.  That is why it is so important to be prepared when you plan to buy a home in the spring market. 


Here are a few tips to help you buy your new home this spring:

Get Preapproved By A Local Lender 
Shop around and find out who can offer the best program for your situation and then get a pre-approval.  Having that in hand will make your offer more attractive to sellers.  Most banks will not even consider an offer on a short sale or a foreclosure property without a pre-approval or a proof of funds letter.

Hire A Buyer Agent 
Choose an agent who knows the area and who you are comfortable with and then sign an agreement to have the represent you.  If you are just calling around to the listing agent, there is nobody looking out for you during one of the biggest purchases you will ever make.  In most cases the fee for the buyer agent is paid by the seller anyway so why wouldn't you have someone working for your best interests? 

Accept That There Is No Perfect House 
Decide what your most important "must-haves" are and what you are willing to compromise on.  No house is perfect...they might need some work, might not have a room as big as wanted, might have less land, or might not be in the perfect location.  What is most important to you?

Prepare To Move Quickly 
When you fall in love with a house, be prepared to make an offer quickly.  In the spring market, properties can sell quickly so if you don't make an offer quickly...someone might beat you to it.

Don't Be Opposed To Negotiating 
This time of year it is common to have multiple offers on the same property.  If you get stuck on getting the house for less that it is listed for, instead of what it is worth, you could miss out on a great house.  Negotiating on closing date can also be attractive to a seller. 

Buying a home is a big decision.  Being prepared and having the right agent to advise you along the way will make the process much easier and give you a better chance at finding your dream home!  Are you ready to start your search? 

Call us today to meet with one of our experienced buyer's agents.

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

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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