Maine

The Portland Maine real estate markets saw 29 transactions take place with an average sold price of 248K after sitting on the market for 87 days in December 2008. This contrasts with 46 homes sold at an average price of 279K after sitting on the market for 97 days n December 2007. This represents a transaction volume decrease of 37% and a pricing decrease of 10%. Inventories continue to drop as well. Currently there are 391 properties for sale in Portland down from 425 last month.

For more information on this southern Maine real estate housing community please visit www.mymaineproperty.com or contact me directly at 207-650-5383 or via email at john@greentreemaine.com

For the month ending December 2008 the Brunswick Maine real estate market saw 11 single family and condo residential transactions occur at a combined average price of 226K with each home sitting on the market for an average of 128 days. In December 2007 transaction volume was markedly higher with 15 properties trading hands and at an average price of 256K illustrating an average price drop of approximately 12% in this coastal Maine community .

To find out more real estate and community information on this mid coastal Maine town please visit www.mymaineproperty.com or contact me directly at 207-650-5383 or via email at john@greentreemaine.com

Bath Maine real estate remains quiet with 4 transactions transpiring in December 08 with an average sold price of 143K. Comparing this to 5 transactions at an average price of 171K in December 2007 one can see a price drop of 16% year over year. With an inventory of 105 properties the Bath Maine residential real estate market remains quiet and will most likely continue this way for the foreseeable future.

To get more information on this mid coastal Maine real estate market please visit www.mymaineproperty.com or contact me directly at 207-650-5383 or via email at john@greentreemaine.com

Here is the second part of my blogging for those who might be considering moving into a new property. The time is right, but you need to make sure you have your ducks in a row. It isn't like go find the home and buy it. Now things have to be done before you even make an offer. It is due to all the economic strife we have all been experiencing. There are some basics to consider and this blog is to discuss having a letter from the company you hope to use for aquiring a mortgage.

1.) Get that pre approval letter from the lender so when you present an offer this letter will let the seller know you are already in the process of getting a loan and that you would qualify for the offer you are presenting. Your agent will know better what homes will be choice for you.

2.) Finding the right home isn't as difficult as it was several years ago. The inventory is high and your agent will be able to inform you of those properties that come onto the market and fit your needs. Let your realtor work for you.

3.)When you are searching for a home, know that your agent should be able to help you with those who are attempting to sell their home on their own. Most for sale by owners will honor your agent with a commission payment. They want to sell. Searching for sale by owners

4.) Remember your agent can not offer you information regarding school systems, where churches are located, or information regarding certain neighborhoods. You, the buyer, have responsibilities to ensure the home you are interested in will work for you regarding the surrounding neighborhood, schools, the local government, etc.

So, go find that agent who can work for you and go find that home, put in an offer, go to closing, and receive the keys to your new residence.

Good Luck

When it comes to working with clients and knowing how to listen and respond in a timely manner, I am there. Find me and let me know how I can better serve you.

Most lakefront homes in Maine are sold to folks "from away". These types of buyers have their primary home back in the suburbs of major cities like Boston, Hartford, and New York. When purchasing one's primary home in the suburbs it's rare that the home one is purchasing will come furnished.

It's different when it comes to buying a second home here in the lakes regions of Maine. Most seasonal lakefront homes, when conveyed, come furnished or partially furnished. How come?

When folks with second homes on the lake decide to sell the question arises: "What do we do with all this stuff ? We can't bring it all home with us. We have no room for this stuff back home. I am often asked "Do you think the buyer would like to have the furnishings?" My answer, "You bet!"

Most lakefront buyers are happy to purchase a furnished or partially furnished second home. "We can use this stuff for now". Most plan to rid themselves, eventually, of an offending floral couch or uncomfortable chair at the first opportunity. However, they decide, most furnishings will work for the present.

Over the course of years a strange thing happens. The uncomfortable chair becomes less so and the horrible floral couch becomes "not so bad'. Ultimately, dawn breaks on Marblehead, with the sunny realization: "Who wants the kids with wet bathing suits and sandy pine tarred feet sitting on good furniture anyway?"

When a seller informs me "We want to sell the place furnished except for personal stuff " I hear a little voice in my head saying "What do they mean by personal stuff". "You know, pictures of the kids, clothing, that kind of thing." I say okay! No worries!

A few days later, after the listing is in the MLS I get a call from the seller. "Tom", they say, "we told the kids(now in their forties) that we are selling and each one wants to take a ‘little something" from our camp". "Something small?", I ask. "Oh yes". I say, "Okay! No worries!"

Sometimes the list of personal items being taken by the seller is small, however sometimes the list grows quite long . So..... Dear Lakefront Buyer, when you are told that the home is being sold furnished, or partially furnished except for personal items, make sure you know what that means.

Make sure your offer is contingent on knowing what's staying and what's remaining long before the closing. It's upsetting on the day of the closing to find most of the nice stuff gone and what remains is ready for a trip to the dump.

Lean on your buyer agent to get these answers. The day of the closing should be a time of celebration not one of dissapointment and or remorse.