Michelle Flaherty

This weekend I received a call from a potential buyer who saw my build package listing in Cumberland's Westbranch subdivision.

The person who called was wondering if they could build on the lot and bring their horses with them.  That would not work due to neighborhood covenants, but the inquiry alerted me to the fact that this subdivision is smack in the middle of four popular horse boarding facilities (all within 3 or 4 miles) AND within a mile of the Cumberland County Fairgrounds.

I hadn't realized this, but the neighborhood is INCREDIBLY convenient for Maine-based horse lovers.  Plus you can build this house for only $351,000:

Check out the Google Map:

Last week I was part of a committee meeting at the Maine Association of Realtors to discuss how much Sold data should be released from our MLS to different vendors and ultimately the public.

What ensued was a multi-level discussion that ultimately came down to a philosophical question for Realtors: as technology involves and information that used to be owned by Realtors becomes public, will Realtors become obsolete? A look at the slow progression of data release over recent history reveals that, on the contrary, we will probably save time by allowing consumers to become educated before they contact us.

In the 1980s, when I first began to observe the workings of Real Estate as a child in my parents’ office, our bookshelves were stuffed with volumes of MLS Books, which clients would have to make appointments to come in and peruse. The books were the one comprehensive source of properties that were for sale or had recently sold. And the benefit to Realtors was that we were the ultimate keepers of information. It was nearly impossible to buy or sell without access to our information, and many Realtors sold themselves short thinking that the info was the most valuable thing they had to offer.

Then came MLS, Realtor.com, and the widespread online publication of listings. This was a huge transition, because now the public wouldn’t have to pop by the office to shop for homes – they could look on their own. Surprisingly for some, the number of phone calls into our offices didn’t go down. Of course, street addresses weren’t listed anywhere. That way, listing agents still had some control over their listings, and buyers still had to call in on properties so that they could do a drive-by. Those calls, on one hand, were an opportunity to convert a lead. On the other hand, they were often just people who were working with another agent already and just wanted to know an address – also known as interruptions, or wastes of time.

Then we began to publicize addresses, and calls on listings continued to come in; however, we have found that the calls are much more serious. Customers already know the area when they call, and have either Google mapped the property or have had a chance to drive by. They've also often researched YOU, and are looking for your professional take on the place.

Now we are asked to consider the topic of Sold data. This is a big one, because it threatens yet another reason that the public calls a Realtor – what the home down the street sold for, and similarly what their home is worth. The “free CMA” is a popular listing tool, and there’s an argument that publicizing sold data would decrease its value. However, it would be impossible to provide true analysis of the data in an automated format.

Knowing this, I don’t think that the presence of Sold data online will remove us from the transaction; rather, its presence will educate consumers so that when they come to us for a CMA they have some idea, based in reality, of the value of their home. And as an added bonus, the presence of this data might just weed the dreamers and the FSBOs out of our “Free CMA” queues. Serious sellers will still look to us as professionals to analyze the data, suggest a price that will get them top dollar, and help them get their home ready for sale. Not to mention attract buyer agents, schedule all the showings, help with negotiations, oversee the buyer’s financing, and use our expertise to work through any issues.

What I’ve been hearing lately is that people are looking for Realtors who can machete a path through the jungle of information out there, and get them to a closing table headache-free with their best interests intact. And in 2010 and beyond, that expertise - not our data - is the most valuable gift we have to offer.

Today I was driving back from a meeting in Augusta, on the phone with another broker negotiating some building inspection issues, when a State Trooper SUV careened up behind me and threw on their blue lights.

Confused, I pulled over, and the officer came up to my window. I produced my license and registration, and he asked me "Are you familar with the distracted driving law in Maine?"

{As it turns out, I am - the MAR legislative committee that I volunteer on took it up as an issue last year (a ban on cell phones while driving would be a major hit for Realtors, as our offices are often our cars!), but decided not to oppose it because talking on a cell phone wasnt cited as one of the examples of distracted driving activities.}

"I am," I said, "but I didn't know it applied to talking on cell phones." to which he replied, "Do you think that talking with a cell phone in one hand and waving your other hand all around with no hands on the wheel is a good idea??"

"Oh... sorry, i didn't know I was doing that."

I'm animated anyway, and I was trying to propose a plan of action for how an amendment would get signed by all the parties by 5:00 tonight. My knee probably filled in a bit at the wheel while my hand made all kinds of pointing motions ("you get it along to your sellers, then to me and I have to drive over to the husband's workplace, and then I'll fax it to his wife..."). Totally a subconsious thing, but I'm sure my hands were following my words as I thought out loud. That being said, I was on a straight, flat highway, and both eyes were squarely on the road.

As it turned out, he didn't give me a ticket because I didn't actually break the law, and said he wouldn't have blinked an eye at me if he was just driving by. The reason he stopped me was that the driver behind me had seen my hand waving around and called to report me!!

Moral of the story: Mainers, be careful what you do while driving - even if you're not doing anything wrong, the new law gives other drivers a reason to watch your behavior, and some won't hesitate to turn you in.

There has been a lot of chatter in Maine lately surrounding first-time homebuying, and legitimately so. The federal government has implemented an $8,000 tax credit to all first-timers who purchase before December 1, 2009, and MaineHousing has upped the ante, offering an additional $5,500 "Gift of Green" for first timers who use their mortgage products - a $5,000 grant at closing plus a $500 certificate toward an energy audit. Spend some of that money on energy improvements, and you can rack up another $1500 tax credit come April, bringing the grand total to a whopping $15,000 to buy a home in Maine this year.

Yesterday I was asked by an acquaintance who had never bought a home whether she would qualify as a first time homebuyer, and the answer wasn't quite clear. Her situation: Her husband owned a home, which he had purchased before they got married. She wasn't on the deed or the note for the home. The were thinking about making a move, and she wondered if she could qualify for some of the programs out there. The answer was yes and no.

In Maine, she would qualify for the Gift of Green program (and a MaineHousing mortgage) IF she purchased the new home on her own and didn't need any of her husband's income to qualify.

However, she woudn't qualify for the $8,000 tax credit, even though she had never bought a home before. According to the IRS's explanation below, her marriage to a homeowner would disqualify her for the program, even if she was on neither the note nor the mortgage, and she and her husband filed taxes separately.

From the IRS website:

S4. If husband and wife wanted to sell the home that the wife owned when they got married, and the husband had not owned a home within the past three years, could he qualify as a first-time homebuyer for the credit even though the wife would not qualify?

A. No. The purchase date determines whether a taxpayer is a first-time homebuyer. Since the wife had ownership interest in a principal residence within the prior three years, neither taxpayer may take the first-time homebuyer credit. Section 36(c)(1) of the Internal Revenue Code requires that the taxpayer and the taxpayer's spouse not have an ownership interest in a principal residence within the prior three years from the date of purchase. The husband may not take the credit even if he filed on a separate return.

A lot of states are implementing new first-time homebuyer incentive programs to piggyback on the $8,000 federal tax credit, so it's important to check in with a local lender and accountant to see what your particular situation would be.

When natives think of the landscape immediately surrounding Portland, Maine the images that come to mind are typically of paved streets, Cape-style rooftops, sidewalk trees and corner stores. Although Portland is perched on the coast, it's a working waterfront and most of the area's popular beaches are miles south in Scarborough or Cape Elizabeth--destinations on summer weekends, but hard to get to on a whim.

However, one little gem is right across the bridge from downtown - South Portland's Willard Beach. Hidden beyond a quaint residential neighborhood with just a few walkable shops and an ice cream parlor, the beach offers plenty of parking, restrooms and a snack bar. And best of all, its often-overlooked location keeps the crowds quiet. And September through May, dogs are allowed on the beach!

It's really the locals who benefit most, the residents of the beachy cottages and condos that cover the four or five blocks between Broadway and the beach.

One such condo, located at 450 Preble Street, is currently for sale - just in time for summer. The unit is priced as low as any have sold in the building, and is a prime third-floor walkup with a custom kitchen and bath, and plenty of room to roam. Granite countertops and stainless steel appliances give the kitchen a sophisticated polish, appropriately balanced by warm tones in the cabinetry and some gold hues in the stone. The floors are graced with inlaid hardwood, and the walls feature plenty of functional built-in shelves. The association is one of the few pet-friendly ones in the area, and the building and surrounding landscape show the care of its proud homeowners.

Can you see yourself enjoying the beach-town lifestyle just minutes from Portland's downtown? If so, pack up that sunscreen and call me to schedule a showing! You will thank yourself all summer long.