Maine

February 2012 Market Data

Kennebec County, Maine – Single Family Home Sales

Based on information from the Maine Real Estate Information System, Inc. for the period 02/1/2012 through 02/29/2012.

Kennebec County:

Service, commitment, and time are the three secrets to success, according to Floyd Wickman, a great real estate coach who is in the National Speakers Association Hall of Fame.

To be a great realtor, it's not enough to just be good at your job. You need to excel, and provide excellent service to your clients.

Because networking is huge in the industry, providing great care to your clients will help long-term, when they recommend you to their friends, family, and co-workers who may also be looking to buy or sell.

Being reliable and fully committed is also vastly important. Do the things you've said you'd do, and your clients will see they can trust and depend on you to get the job done. You have to earn loyalty.

Because time is limited every day in this busy profession, be sure to set some aside for your loved ones (including yourself) as well as clients. Everyone needs to stop working and recharge occassionally.

By the end of February, The Wall Street Journal felt confident enough to print a headline touting, “At Last! Banks Rev Up Lending”. FHA loans are among the most popular loan programs funding real estate purchases in Maine right now. But there is much confusion over the term “FHA Loan”. To be perfectly clear, let’s get some terms straight. “FHA” stands for the Federal Housing Administration. And “FHA Loans” aren’t … aren’t loans that is. But that doesn’t mean that FHA loans aren’t going to continue to be significant to the Central Maine real estate market from Lewiston-Auburn to Augusta through 2012.

The term “FHA loans” actually refers to real estate loans made by companies other than the FHA. If that isn’t contradictory enough, the banks and other loaning entities are called ‘FHA Lenders’ (the ones who aren’t, actually). The reason behind the naming contradiction is that these mortgage loans are only guaranteed by the FHA – that is, insured by it, not funded by it.

The FHA offers to act as an insurer in order to lower the risk to the actual mortgage lender. Since the availability of FHA insurance makes it less hazardous for those lenders to grant people mortgages, the ultimate effect (and intention of FHA loans in the first place) is to make it easier for potential homeowners to obtain a mortgage, thereby freeing up the kind of large capital that mortgage loans usually involve. FHA loans help ‘unlock’ the real estate market, allowing people to move in and out of residences more freely.

FHA loans can be a good deal for some people, but as with most financial alternatives, there are both pros and cons to the program. A key advantage of FHA loans is that potential buyers with marginal credit scores can more readily quality to get them. FHA loans also carry relatively low interest rates, and because they are based on the good credit and massive financial power of the federal government (AKA taxpayers), down payments and closing coats for FHA loans can be kept low.

While FHA loans are popular amongst current Lewiston-Auburn and Augusta Maine Buyers, there are some more competitive Conventional Insurance loan programs out there for buyers who can come up with a 5% down payment! For home buyers in Central Maine with good credit scores, other private mortgage insurance options are available. In many cases their premiums may be lower than comparable FHA premiums. As is well known, the FHA also places a limit on the size of a mortgage it will guarantee. If your transaction involves a larger “jumbo” mortgage, FHA loans won't be available. This isn’t much of an issue here in Central Maine but in other parts of the country where real estate prices are more expensive, it can be.

When you are thinking about buying a home, the first step is getting pre-qualified with a reputable lender or mortgage broker to assess your financing options and the pros and cons of the programs available to you in the Central Maine real estate market. The Tanya Busch Team is here to help you with these and all of the other current intelligence we take into account when helping you find a property and structure the most favorable terms for your Lewiston-Auburn or Augusta area real estate purchase. We have an in-house lender available to answer all your mortgage-related questions to assist you with the first step. Contact us today and we’d be happy to set you up!

You can reach us at (207) 689-9880 or www.TanyaB.com

Selling your home can be a stressful process. Choosing the right realtor who will meet your needs and wants is a must – which is where Universal Properties at Keller Williams Realty comes in.

With Universal Properties’ Guaranteed Sold Program, you don’t need to worry about what happens if your property doesn’t sell. The program, which is designed to meet your individual needs, says that if you list your home with Universal Properties and it doesn’t sell in the time frame you agree upon with the listing agent, the company will buy the property from you.

“My guarantee promises results,” says CEO and Realtor Jeff Mateja.

Call Universal Properties at 207-553-2605 to get more details about the Guaranteed Sold program today.

Things are heating up here in the Lewiston - Auburn Maine real estate market. Yes, Androscoggin County home sales are up 19.7% since last year!

"Where are the SOLD signs" you ask?

Well, if you blink, you might miss them.

Regulations vary from state to state. Maine Realtors are technically only allowed to put up the sought after SOLD sign on the day the home sale is actually going to close. While happy sellers of The Maine Real Estate Network want to shout the news of their successful home sale from every rooftop, many home buyers (understandably) would like to simply start enjoying life in their new home without the Realtor's sign.

This time of year, we are truly building up our muscles getting those signs in (and then out) of the frozen ground. After all, Lewiston-Auburn home sellers are not looking to have a sign permantly planted in their front yard, they want a Realtor with the tools and determination to produce a solid and continuous marketing blast that will get their home sold quickly and for top dollar...and earn that coveted SOLD sign, if only for a few hours.

Yes, you will see our signs all over the Lewiston-Auburn Maine area...but not for too long in the same spot!

For a FREE, no-pressure consultation on getting your home sold fast and for top dollar, give me a call at 207-240-2250 or use our on-line form at www.homeseller.me.

If your for sale sign went up and came down without resulting in a successful sale, or if you just want to learn how to have a successful home sale, you may want to check out the information available on www.theunsoldhome.com. This is a great resource for frustrated and hopeful home sellers alike!