Maine Real Estate News - Maine and Cumberland County Homes for Sale
Quality information and local news from an experienced Maine real estate professional. Local real estate news, information and listings for Maine authored by new local author and edited by RISMedia.Maine Real Estate Buyers What Are You Waiting For?
If interest rates at almost historic 40 year lows, great inventory of homes to choose from, and value pricing is this what you are waiting for, wait no more, as this is the reality of Real Estate in Maine.
For the second month in a row, sales of single family existing homes in Maine have increased. According to the Maine Real Estate Information System, Inc., Realtors sold 1425 homes across the state during August 2007 a 6.74% jump from last August’s total of 1335.
The median sales price for those homes remained unchanged at $195,000. Which is actually better than it sounds, because there is still trouble in the Jumbo loan mortgage arena, so many high end properties are not selling, and I expect it will still be a few months until that gets worked out. So flat, or unchanged is pretty good all things considered. If you remember last month, median sales was up 4% from same time a year ago.
Everyone really needs to take a deeper dive, as each of the counties in Maine varied greatly, for instance Cumberland County for this last quarter of the year was up in median sale 3.6% from same period a year ago, and homes sold was also up 4.65%.
Does this mean recovery? Too soon to tell, but it feels like forward movement to me. So I ask again Buyers what are you waiting for? Make sure when you go shopping for your next dream home, that you have a professional guide you through the process, because even if this is a recovery, you need a Buyers Agent to help you determine which homes of interest are appreciating at the best rate. Also, though the inventory is deep, there are still many over priced homes out there. Make sure before you buy that you have your Buyers Agent prepare a CMA on your prospective property, and then let the Buyers Agent do, what they do best, and that is negotiate the best price possible on your behalf.
Happy House Hunting.
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