Archive for July 15th, 2008

Maine Foreclosure Numbers Up For June

Tuesday, July 15th, 2008

Foreclosure filings in June were up 61% over the same month last year, according to a firm that tracks foreclosures.

Maine had 276 homes, or one in every 2,504, receive a foreclosure filing in June, according to California-based RealtyTrac’s most recent U.S. Foreclosure Market Report. The June numbers were a 14% increase from May 2008.

Nationally, 252,363 U.S. properties, or one in every 501 households, received a foreclosure filing during June, a 3% decrease from the previous month but a 53% increase from June 2007, according to the report.

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Posted in Foreclosure, Housing Market, Maine Market Reports, Maine News, Mortgage, Real Estate News, Sellers, Short Sales | No Comments »

It’s A Buyers Market - Things You Should Know

Tuesday, July 15th, 2008

More home buyers have a better chance now than at any other time in nearly a half decade to negotiate a home-buying deal that costs less and comes with some concessions thrown in.

In many locations, buyers will find a glut of new homes, more motivated sellers, foreclosures, auctions, short sales and other market conditions that can make it a really good time to buy.
     
That doesn’t mean throw caution to the wind. Here’s how to begin to navigate today’s housing market, step-by-step, and make a good deal without getting taken.

 Begin with making a personal “right-time-to-buy” decision. If you stretch financially beyond your means to go after lower-priced homes, foreclosures or short sales, you could be setting yourself up for failure. Today’s housing market is littered with home owners who borrowed more than they could afford.
     
On the other hand, if you wait for…CONTINUED >>>

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Posted in Buyers, Housing Market, Real Estate News | No Comments »