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Displaying blog entries 11-20 of 166

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.

Where Did the Summer Go?

by Fontaine Family

Where Did The Summer Go?

August is here...summer is coming to an end...and back-to-school
is right around the corner. 

In Maine, the weather is usually beautiful this time of year
and there is so much to do...let's take advantage of those
last few weekends of gorgeous weather before school starts and we get back into our fall routine.

Here are a few suggestions of things to check out in August!

The Topsham Fair 
August 8th - 13th
Harness Racing, Blueberry Pie Judging, Chocolate Chip Cookie Contest, Pig Scramble, Steer and Oxen Pull, Sheep Riding, Music, Backhoe Contest, Monster Truck Show...the list goes on and on! 
See the full schedule here.

 

Skowhegan State Fair 
August 13th - 22nd 
Demolition Derby, Aerial Escape Show, Tractor Pulls, Laser Tag, Pony Rides,  Log Loading & Chainsaw Contests, Live Bands, Vincenta's White Tigers, Alpaca Exhibit, and more. 
See the full schedule here.

 

Great Falls Balloon Festival 
August 18th - 20th
Food, Crafts, Basilica Tours, Live Dancers, Live Music, and lots of Hot Air Balloons floating over Lewiston/Auburn! 
See the full schedule here.

Great State of Maine Air Show
August 26th - 27th 
See the Blue Angels, US Special Operations Command Parachute Jump Team, the Smoke-n-Thunder Jet Car and so much more!
See the schedule here.

Blistered Fingers Family Bluegrass Festival 
August 23rd - 27th 
Head to the Litchfield Fairgrounds to hear live Bluegrass from The Gibson Brothers, Larry Efaw & The Bluegrass Mountaineers, Nothin' Fancy, The Zolla Boys, and more! 
See the full lineup here.

August is a great time to be in Maine! 
Still need more ideas?  Check out our "Things To Do" page and find great ideas for things to do all year in Maine! 

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.

Get Ready to Bid!

by Fontaine Family

Our 4th Annual Bid For Wishes
Silent Auction starts on Monday, July 17th! 


Here is your chance to bid on some great items and contribute to a great cause. We have items to be auctioned in memory of Nolan Thomas Williams with all proceeds going to Make-A-Wish Maine!

Nolan Thomas Williams was a beautiful son, brother, grandson and friend. Nolan died of Melanoma cancer just a few weeks before his 4th birthday. He battled the cancer for 7 months. He had three brothers Nick, Nate and Nigel. He loved to go fishing, camping and boating with his mom and dad and brothers. He loved Sunday mornings because it meant he got to go to church. His favorite toys were his match box cars and his CD player. He played the songs over and over again "What a Wonderful World," by Louis Armstrong and "Put your Happy Face on". This sweet, sensitive little boy left his family and friends with precious memories. All who knew him were blessed.

Each year, in Nolan's memory, we host a Silent Auction on Facebook with the help of generous donations from our friends and local businesses.  The money we raise goes directly to Make-A-Wish Maine to grant the wish or a child with a potentially life-threatening illness.  A wish give the child and their family something to look forward to...a bright spot of hope during a hard time. 

Visit our Bid For Wishes event page and place your bids!  Win some great items and put a smile on a Maine child's face! 


Fontaine Named One of Top Teams In US!

by Fontaine Family

 

Fontaine Team Named One of America’s Top 1,000 Real Estate professional Teams
By
Real Trends, As advertised In THE WALL STREET JOURNAL


Fontaine Family – The Real Estate Leader, Had an Impressive 462 Transaction Sides and $56 Million in Sales on Their Way to Becoming One of Maine’s Top Professional Teams 

Fontaine Family – The Real Estate Leader was named one of America’s top real estate professional teams by REAL Trends, as advertised in The Wall Street Journal.  Fontaine Team is once again a member of the “The Thousand Top Real Estate Professionals,” a prestigious national awards ranking sponsored annually by the two respected publications.  The Fontaine Team is ranked in the top ½ of 1% of the more than 1,100,000 REALTORS® nationwide for the 2016 calendar year.

The Thousand real estate professionals was announced on June 23, 2017, with four separate categories honoring the top 250 residential agents and agent teams for excellence in:

  • Individual Sales Professionals—Sales volume
  • Individual Sales Professionals—Transaction sides (in each real estate transaction, there are two sides that can be represented by a real estate agent: a buyer’s and a seller’s.)
  • Team Professionals—Sales volume
  • Team Professionals—Transaction sides                                             

According to The Thousand, The Fontaine Team had 462 transaction sides, ranking them 73rd in the nation.

“The best individual agents and teams - including Fontaine’s award-winning efforts—were nothing short of phenomenal considering the challenges in today’s complex housing market,” said Steve Murray, founder of REAL Trends, a Denver-based consulting, publishing and communications company and The Trusted Source that complies the yearly, third-party verified list. "Being a member of The Thousand is an incredible achievement in today's increasingly competitive environment.  This elite group of sales associates are proven professionals who bring together innovative marketing solutions that combine cutting-edge technology with best-in-class customer service to consistently exceed their clients’ expectations. Their success put them in the top 1 percent of more than 1.25 million REALTORS® nationwide," said Luke Bahrenburg, vice president of real estate advertising at Dow Jones, publisher of The Wall Street Journal.

 “I am absolutely thrilled to be named to The Thousand,” said Brenda Fontaine, the owner/broker of Fontaine Family – The Real Estate Leader who serves clients in 6 Counties and has offices in Auburn and Scarborough.  “It is incredibly gratifying to help clients find their dream homes as well as help them sell their properties quickly and for the highest price possible.”

The ranking of The Thousand can be found at www.realtrends.com/rankings/rt1000.

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

Displaying blog entries 11-20 of 166

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Contact Information

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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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