Maine Real Estate Info

ECONOMIC STIMULUS: NAR applauds the Economic Stimulus package passed by the U.S. Senate last night which includes important provisions that will temporarily raise the FHA loan limits.NAR developed estimates of the temporary FHA and GSE single-family loan limits based on HUD’s existing FHA loan limits. Per the economic stimulus measure, HUD is required to publish the official new temporary loan limits within 30 days of enactment. NAR’s figures are estimates, not official figures. GSE limits remain $417,000 in Maine.  Maine’s estimated FHA increases here - Androscoggin - from $200,160 to $271,050; Aroostook - from $200,160 to $271,050; Cumberland - from $256,025 to $336,875; Franklin - from $200,160 to $271,050; Hancock - from $207,100 to $272,500; Kennebec - from $200,160 to $271,050; Knox - from $200,160 to $271,050; Lincoln - from $241,395 to $317,675; Oxford - from $200,160 to $271,050; Penobscot - from $200,160 to $271,050; Piscataquis - from $200,160 to $271,050; Sagadahoc - from $256,025 to $336,875; Somerset - from $200,160 to $271,050; Waldo - from $200,160 to $271,050; Washington - from $200,160 to $271,050; York - from $256,025 to $336,875.

MSHA NEWS:  The Maine State Housing Authority (MSHA) provides these notable updates - a) for the month of February 2008 their First Home Rate remains 4.95% and Maine Assist at 5.25%; b) beginning March 3, MSHA will offer 0 point, 2 point and 40-year term options.  The current 3 seller point requirement will be discontinued.  Program guidelines, webinar training dates and marketing initiatives will be announced during February.  Will apply to first-time homebuyers, veterans and active duty military; c) MSHA borrowers who lose their jobs now have Maine HOPE (Home Ownership Protection for umEmployment).  Maine HOPE may be available to assist borrowers who become unemployed by making 4 of their MSHA mortgage payments, including taxes and homeownership insurance.  The Maine HOPE loan is interest free and repaid when the borrower pays off their MSHA mortgage or stops using the home as their primary residence.  For more info - (800) 452-4668 or http://www.mainehousing.org/HomeLoan/

The Lewiston Education Fund (LEF), of Lewiston Maine held its 3rd Annual Super Bowling Saturday, on Feb. 2nd at SpareTime Recreation Center,
Lewiston. Thanks to the generous sponsors and team members, almost $6000 was raised in this year’s event, nearly twice as much as the 2007 event, and over three times as much as 2006 event!  LEF’s Board is very pleased that this successful event also raised awareness in the business community, since the event is designed to give companies an opportunity to contribute to a worthy cause while providing their staff and associates with a fun team-building experience.   Keller Williams Realty Mid Maine, Tambrands, and White Rock Distilleries, were this year’s Hospitality Sponsors. Teams consisted of staff members from Camden National Bank, Keller Williams Realty Mid Maine (2 teams), Maine Bank & Trust, Pediatric Associates, Budget Document Technologies (2 teams), Harriman Associates, Paychex (3 teams), Turner Publishing Inc, Lewiston School Department (2 teams) and School Committee, and Tambrands (2 teams).   Individual Achievements: Women’s High Game Scratch: Kathy Bouchard - 258, Cathy Bickford - 214, Lucy Violette - 193, Sue Meservier of  Keller Williams Realty Mid Maine - 178, and Jeannie Levesque - 166.  Men’s HIgh Game Scratch:  Tom Giberti, Jr - 277, Brian Roy - 255, Thomas Giberti, Sr - 215, Shawn Barrows - 198, and Christopher Behne - 186.    Drawings for valuable items and gift certificates were donated by (won by) Better Days Organizing PLUS (Shirley Libby), Cassiel’s Day Spa (Jamie Ouellette), Rowe Mitsubish (Deb Heroux, Nancy Richard, and Monica Hemond), Bates College (Linda Wheeler), DaVinci’s Eatery (Dan Fournier), Shaw’s (Lucy Violette), Lost Valley (Tammy Bellefleure of Keller Williams Realty Mid Maine and Kristine Powell), and Hair Connection (Cathy Bickford).  LEF was established in 2002, to fulfill School Superintendent Leon Levesque’s vision of a non-profit foundation to fund innovative educational projects in Lewiston public schools, that expand educational opportunities, foster creativity, and enhance academic excellence, but would be unaffordable through regular school budgets.LEF grants are made possible through the generous contributions of many businesses and individuals, including Peter Geiger, LL Bean, TD Banknorth, and Wal-Mart, to mention just a few.  The 11-member Board has awarded numerous grants proposed by educators, individually and collaboratively, that impact students of all ages.  It is especially proud of LEF’s signature project, S.T.A.R.T. “Steps to Accomplishing Real-life Transitions” at the Lewiston Middle School , designed to encourage greater aspirations at a critical time in student scholastic development.  Donors can also specify that contributions be added to a special project or to LEF’s endowment, which will provide a perpetual income source for programs long into the future. Consider a special gift to honor community members or to memorialize loved ones and provide a lasting legacy that will touch the lives of children for generations to come.   If you are interested in “investing in academic excellence” or becoming part of the Board or Circle of Friends, or simply to learn more about the exciting projects and programs funded, please visit LEF’s website at www.lewistoneducationfund.org

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