Maine Real Estate Info

SOUTH PORTLAND (April 23, 2008) - In a press release to the Maine media today, MREIS reports that Maine’s statewide median home price decreased 3.35% since last March, to $188,000.  Unit sales decreased 28.41% in that same time period.  Nationally, single-family home sales decreased 18.4% in March, and the national median sales price decreased 8.3%. 

Continued cold weather in Maine cooled many single-family real estate sales during the month of March 2008. Prices were down over three percent during the 12-month span and March sales decreased 28.41 percent, according to the Maine Real Estate Information System, Inc.

The complete press release, which includes first quarter sales by County is posted at http://www.mainerealtors.com.

Now is the time to buy!

According to an April 14 article on Realtytimes.com, “The first quarter of 2008 makes the 24th consecutive quarter that rental prices have escalated nationwide.” Click here to read the rest of the article, “Realty Viewpoint: If You Think You’re Saving Money Renting…Think Again.”

While Your First Home, the first book in the Keller Williams Realty Guide Series, emphasized that, “If you can afford to rent, you can afford to buy,” holds true. This point appears truer now than ever before.

Right now is the best time for new buyers to get out of rental properties and enter the housing market. Interest rates over the last 15 months have gone from 6.2% in January 2007 to 6.7% in July 2007, then down to 5.75 in January 2008. In recent weeks it has gone to about 5.95%. Are Renters taking advantage of our current market conditions and converting to Home Owners? We’ll certainly find out.

This Maine Real Estate Spring market is already showing signs of an up-swing. Massachusetts is already experiencing this as well as other New England States. Keep your eye on our Spring real estate market.

To search for Maine Real Estate, over 25,000 properties, visit one of our Maine MLS sites at:

Meservier.com

MaineRealEstateExperts.com 

MaineMLS.info 

This just in from the Maine Association of REALTORS:

National Association of REALTORS reports House and Senate lawmakers are moving quickly on a tax incentive to help stimulate housing markets. In the Senate, legislation would create a $7,000 tax credit, taken over two years, for individuals who purchase a foreclosed property as a principal residence between April 1, 2008, and April 1, 2009. A House measure would provide a $7,500 credit to first-time buyers for the purchase of any house as a principal residence between April 8, 2008, and April 1, 2009. The Senate bill is pending on the floor; the House bill is in the Ways & Means Committee. The Bush administration has voiced concerns about distorting markets and pricing.

Watch this new video released by the Maine Association of Realtors for the “Your Piece Of Maine” social campaign. It will be aired on cable television channels as well as on YouTube and Facebook.
What do you think?

The Maine Association of Realtors has prepared a “4 Facts about Maine Real Estate” to respond to common consumer questions or concerns about buying real estate.

1. All Markets are local

1. All Markets are local. Yes, there is national, regional, state and county statistical data, but each will not clearly or fully explain market conditions in a town or neighborhood. Market conditions can also vary based on types of property or whether waterfront or not, for example. What happens with California or

3. There is available mortgage money. There’s so much press about predatory lending that the story there is money to lend by local and reputable lenders can get lost. Don’t be discouraged by negative press – instead check with a local reputable lender to get the real facts on what you may be able to afford and what your monthly payments may be. Find out if you can pay less monthly by owning than renting.

Okay, Let’s face it, when you have to register on a website just to see the Maine MLS properties for sale, you just as well back out and go to another web site without all those hassles, OR, you just fill in the blanks with false information to get to the results page. Now, thanks in part to MREIS (Maine Real Estate Information System), the Maine MLS search is even easier. No page registration required! This new user friendly feature is brought to you FREE on all of our websites at,

http://meservier.mreis.mlxchange.com/

http://www.meservier.com

http://mainerealestateexperts.com

http://www.MaineMLS.info

Along with this new feature, consumers can create a log-in, save their search and automatically be notified via email when something new comes on the market meeting their search criteria. And get this..you can then flag each individual property as Favorites, My Possibilities, Agent Recommendations, Rejects and Additional Properties. After the consumer has saved their search, they can log into their very own Private Client View website for easy search management. Try it out. For more information, contact our office at 207-784-2525 or email me at Mike@Meservier.com.

Oh, and one more thing…We even have all of the New Hampshire MLS search added into our search page for your convenience.  One more reason to use Meservier & Associates at Keller Williams Realty Mid Maine 34 Center Street Auburn, Maine 04210

In today’s buyer’s market it’s more important than ever that sellers stag their homes to sell.  With more and more properties going on the market for sale, buyers make decisions on which homes to view based on the overall condition and a marketable list price.  The market is what I like to call a pricing contest and a beauty pageant with the competitors being the homes on the market for sale.  Sometimes a professional stager can assist with paint colors and furniture placement.  Emphasis should be placed on the entrance to the property.  Most buyers spend a few minutes there looking at the details while the agent is obtaining the key.  A new door mat, flower pot and a fresh coat of paint at the entrance is a great place to start.  All personal property as much as possible should be stored away, the front of the refrigerator as much as it’s a great place to display family photos, children’s artwork and a magnet collection should be cleared off.  Baths should have an air freshner along with new towels and mats.  Keep all shades up allowing as much light into the home as possible.  Pet dishes, beds and toys should be removed as well, some buyers may not be pet lovers.  These few tips and helpful hints are a great place to start.  An experienced agent can also put their buyer’s eyes on and point out other staging suggestions that can be very helpful.

The upcoming spring real estate market in Maine will certainly bring great opportunities to Maine buyers.  Interest rates are expected to stay very competitive and the inventory and selection of properties available for prospective home buyers is at the best it’s been in several years.  When the national news media reports on the overall national market they refer to all market in the same category.  That would be similar to forecasting weather here in Maine in the same way meterologists forecast weather in Florida.  Markets are very local!  If you’re considering purchasing a home, now is certainly the time to consider your options.  The best place to start too is by contacting an very experienced local agent that understands their local market.  Long term investing, first time home buying and trading up your existing home are all purchase approaches that the current market provides an ideal climate for.  Buying choices that includes purchases for flipping, especially higher end homes and new construction built on speculation should be approached with a conservative eye.  Long market times can makes these types of purchases very costly to carry.

In Maine, real estate licensees can hold 3 different types of licenses.  The entry level licensee will have a Sales Agent license which is temporary.  During this two year licensing period agents must practice full time and complete additional course requirements.  At the end of this two year temporary period Sales Agents must take and pass their Associate Broker license test.  An Associate Broker license is a 2 year renewable license.  Every Associate Broker in Maine must complete 21 hours of continuing education to be eligible to renew their license.  The third type of real estate is a Broker license.  Broker licensees are able to operate their own real estate company.  Many licensed Brokers aren’t company owners or operators but would be agents who have the highest level of real estate education available in Maine.

The internet has changed how buyers and sellers find Maine homes for sale and Maine real estate agents.  With recent changes to the Maine MLS interface all agents now have the ability to offer buyers and sellers a pubic access point to all properties for sale in Maine.  Over 80 percent of today’s real estate buyers use the internet to start their search for a home.  What kind of information will today’s buyers and sellers be searching for next?  I feel, it will certainly be demand for a more sophisticated approach to understanding particular segments of the market.  The understanding that comes from how many homes are for sale in a certain communities, how many have sold in the last 6 months, for what percentage of the sale price did they sell, how long did each property take to sale is the next level of real estate information that today’s consumer is going to demand from the internet, their agent and the market.  It’s not longer just about access to the MLS and what’s for sale.  This type of information can vary greatly from area to area and in different price ranges.  A service providing this information is now available at www.mainemarketsnapshot.com  This service provides free reports to both buyers and sellers.  Subscribes can choose to receive the report via email either every month or every 2 weeks.  It also very important to be sure you have a high level agent to help you interpret the results of these snapshots.  There’s not substitute for the professional advice and counsel a skilled agent provides.

Maine waterfront vacation rental available through this new website at http://mainewaterfrontrental.com/

Search the online calendar then call or email to reserve your time in the water. Hurry…now is the time to start planning for your lakefront cottage vacation rental.