Own Maine Real Estate Blog

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Moving To Maine, Why People Relocate Here.

Moving to Maine, why do people relocate here to Vacationland?

Well, before looking at the positives when the move is north to Maine, you have to examine the motivation to move. What puts fire in the belly, kicks you and me in the pants to get going and make a move. slauenwhite maine land photo

The reasons people move centers first around renting and wanting to own the four walls, roof and floor that house them.

Wasting money renting is like treading water and not adding to your personal wealth and happiness.

From the lease shift to owning, the reasons for more moves in a lifetime are because of the desire for more space, for a better location.

And often because in small rural real estate markets like Maine, buying bigger and better, more up to date and renovated is cheaper than trying to make a tired, weary collection of sticks and bricks into something more substantial. It is the return on investment and the always low to the ground real estate pricing in an out of the way state like Maine.

More on the mistakes made trying to add on to a home, why additions are tricky business and need extra special attention.

Or to be avoided like in the case of a mobile home additions where they were never designed for one.

The moving to Maine is a pull on the heart strings that haunts out of state buyers until they do finally act on the desire. Less crime, no traffic, low cost properties, all the wildlife and fewer people to deal with all add to the magic of the moving to Maine. Sometimes in retirement, the relocation to Maine is for the Golden Years. Or a second home for vacation use until the big retirement party happens.

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Delays Selling A Home, The House Owner Holds Up The Show And Tell.

Delays Selling A Home, The House Owner Holds Up The Show And Tell.

Delays selling a home, what adds to the days on market that cause shelf life problems?

The seller has a role in what can stop the momentum to get to a quick, profitable real estate closing. The what wastes time in a real estate home sale topic has been given lots of press. But the house owner themselves have a major role in what delays the sale. Or worse yet keeps the listing from even hopping on the new inventory of what's for sale for homes in the MLS local area. moose maine lake land for s

Most of us, me included would not have our homes up to snuff to just wander out front and step on a silent salesmen to start the process of announcing this place is for sale.

I know my home is not ready for the show and tell, come on in. That first impression is everything right? I would want to tackle the garage first because it is far from tip top tidy.

I would want to paint this ceiling in the cellar rec room that got a leak stain from the dishwasher problem last winter and to swamp out all the stuff the four kids left behind when they left the nest. Every room needs attention to tight it up. Make it ship shape. Garages especially are way way out of control after a Maine winter and neglect too. And no one wants an avalanche when closets are opened up and here comes lots of spilling cargo for all to see.

But beyond that personal list of what to do before put the place online and up for sale. In my travels of over 37 years of property listing, marketing and selling Maine real estate, I see the pattern. Of the Maine home seller who wants to not just detail the place and get it ready Freddy in A+ shape for property tours. They have projects that have been carried around in the gray matter for years that never got off the drawing board. But now that a house sale is contemplated, suddenly delays in getting the home on the real estate market are because of they renovations. That I try to explain are not all needed since a house sale is the plan Stan. But because the home owner has always wanted to do these improvements, they won't let go of them. 

In our small rural housing market in Northern Maine, if the kitchen gets a new floor in the latest color trend is not the end of the World.

Because when you have a home in Maine selling for $30,000, $40,000 and $50,000 it is not that all important to be within on the color wheel that the public tends to be picking from today. Value is a good roof, a heating system that is not from the last century and space inside and outside is on the gotta have list of the pretty frugal house buyers in Maine.

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The Little Things In Real Estate Listing, Twisting, Selling.

The Little Things In Real Estate Listing, Twisting, Selling.

Like most things in life, it is the snow ball of all the little details that help or hurt a real estate listing sale.

As a new property hops up on the whirling listing conveyor belt for the razzle dazzle, pick me pick me would you please. The current real estate market conditions impact the speed and chances of ever having a successful real estate closing. The property pricing is the biggest factor that influences a sale on any type of real estate listing. realestatesalephoto3

The value of your property is the tallest hurdle to clear or you can forget all the loose ends that follow behind that figure filled into the price space on the MLS listing software form.

But when the price on the property gets adjusted up and down and is like a ping pong, the buyers watching the real estate radar get the wrong impression. It disappears when pushed up to a higher price bracket so the buyer thinks it is sold. Then reappears when the sales price is lowered and drops back into a low bracket.

The property buyer thinks something must be wrong with the property, it is back on the market and failed to sell. Shelf life, the increasing days on the market (DOM) don't help the sale chances either just as the longer a person is on the operating table, the greater chances of problems developing that threaten coming out of the pair of doors alive and kicking.

Forget the large amounts of wiggle room weighing down a real estate sale listing price. And instead of expecting one brave soul to have the nerve to make an offer, let everyone know you mean to sell. By pricing the property realistically right off the bat. Then monitoring, adjusting that sticker price all the way up to going under contract. To reflect the market all the listings swim in and react to as more real estate comes on and off the current inventory competition.

The list of little things in a real estate sale that impact the chances of a closing include how clean or cluttered the property is. And if the smell of the property odors follow the broker and the buyers home. How quick a possession can be arranged will make or break a sale. Nothing beats an empty home for the hurry up to slide in and start playing house for the new buyer.

Which bank is picked for the mortgage lending can be good, bad or plain ugly.

Local lenders give the best turn around to keep the financial lending wheels spinning best for ground covering action. Far from your state bank loan processing centers can cause sales to die on the real estate vine in the wait for the appraiser, the paperwork shuffle. From all the layers of players in the underwriting dog and pony to get a clear to close for a successful sit down paper shuffle transfer of the real estate title.Too long means too bad when the seller, buyer or both pull the plug on the bank lender.

Marketing, the reach and frequency of the real estate listing exposures determines the size of the buyer pool.

If only local folks, your neighbor knows about the place being for sale, good luck selling fast and for the highest price possible. MOOERS REALTY finds that buyers and seller are very busy and delivery of the information better be cutting edge available and quick, easy to slice and dice. Missing information, a delay in getting current, fresh details about the property for sale, the local community is critical.

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How Much Home Can I Afford To Buy?

How Much Home Can I Afford To Buy?

How much home can I afford to buy?

What mortgage payment would fit into my monthly budget that has other financial obligations to meet? There are some that just don't know for sure what a bank mortgage home loan underwriter would say is the magic number when buying a home. Others who know they don't care how high the "loan arranger" says they can afford but tie it to what they are already paying for rent. buying a home photo

A lot of renters are paying way way beyond the monthly lease installment they technically can afford.

Fixing this, mowing the lawn, paying for utilities that should be on the house meter but that are not. The worry for a home buyer about property taxes, property insurance and upkeep can make the house payment be a small part of the obligation. Many renters are just over spending, paying more than they can afford for their rental units which makes the cushion of extra cash missing in their wallet or purse. And that's why so short on closing costs or getting behind on other payments when something unexpected comes up needing immediate attention. It used to be one flavor or local home loans too, that involved a hefty twenty five percent down payment or forget even trying to get a house mortgage.

So back to the headline of the blog, the question about how much home can I afford? The two rules of thumb batted around if everything is equal is one week's paycheck allocated to housing. Or the other real estate axiom is two and a half times your yearly salary. I prefer to gravitate to the one quarter of your monthly income. So money is left over for other essentials like groceries, house repairs, kid's braces, family entertainment, credit cards, car paymentets etc. Here is one debt to income calculator to fill in the numbers and run some financial scenarios.

The debt to income ratio is just as important as a good credit score and paying your bills on time month after month.

The debt to income ratio is the percentage of your gross income required to cover your housing and debt payments. The lower your debt-to-income ratio the easier to carry your debt load will be. A low debt-to-income ratio increases the odds that you will be able to meet your monthly obligations and not miss any of the payments. This debt to income ratio and your credit score are the two most important factors used by creditors when extending home loans and offering additional credit in lending exercises.To much debt and the odds proven by the numbers if the debt ratio gets too high means everyone loses. 

Calculators for buying a home in Maine.

You need to know more than just what is my monthly house payment going to be if the loan is this long a term for the mortgage at this particular interest rate. Debt ratios on how much you make, how much you spend now and what this new home payment is going to weigh in at is part of the mortgage home loan underwriting. 

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Buyers, Sellers Of Real Estate Homes In Maine Need Help.

Buyers, Sellers Of Real Estate Homes In Maine Need Help.

Buying a home in Maine is serious stuff.

Lots to look out for today in the real estate list, twist, sell. Nothing to be left to chance and a real estate professional makes it look easy. But it is not child's play to buy a home. And for the lucky home buyer, staying in the property and making payments, repairs, carrying the financial burden of the sticks and bricks. Pretty important stuff with a lot to consider. monumentborder maine photo

But the two sides of the real estate equation need to be talked about so the buyer and seller understand the ground rules.

To know what is expected of each side of the partnership. As a seller, what has to happen to make sure lots of buyers are in the swarm considering your place?

Tips for sellers of a home.

The attraction to come in from the curb means spruce up the exterior of the property listing. Mow grass, trim those cedar shrubs and hedges. Cut back the long limbs hanging down and crowding the buildings or making the back yard look smaller and over grown. Make sure the front door yard does not look like a police in pound area for seized cars. Park them somewhere else or clean out that garage so the primary vehicles can slide inside!

Paint the home, building exteriors and match that color so it is more scrape and touch up instead of painting the place an entirely new color a few shades brighter or lighter than the original saves time and money. Straighten or replace those cracked or hanging, missing window shutters too helps the appearance. Clean those windows to make them sparkle!

Heading inside the house, the leaking faucets, the missing light bulbs and clutter, dirt need to be addressed.

Before the property showings and for the video walk through open house on demand loops. The inside images should be ready for show time and not showing loose ends that are addressed but after the photo shoot.

Make the inside navigation of the property free of obstacles. Hitting your hip on the table corner does not help the focus of your buyer as he or she wander through and hopefully ooh and aah from joy, not pain. The kitchen and bathroom need to be ship shape and not look like a bomb hit. Teenagers, pick up your mess please! Or someone tidy up the premises like the hotel maid. Nothing on the surfaces for piled high stuff leaning and sliding to the floor.

Do the laundry or hide it away. But not to cause an avalanche when the buyer checks out the closets. Send the barking dogs to your mother in laws. Vacuum, pick up the toys, open up the shades, make sure there is no odor.

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