Inventory levels are still deep, buyers are less and the definition of insane is doing the same thing over and over again and expecting a different outcome.  Now is the time to start making changes in your business, doing things differently to get a different outcome.

 This means different things to different people, for me, it is all about doing whatever it takes to get the greatest exposure for my listings.  To do this I felt the need to make some very radical changes, the first, leaving a well established mega brand, and move to a forward thinking, out of the box, independent office that is a buzz with positive energy, and by they way, very busy and successful.  Have you ever heard the saying ” Think you can, think you can’t, either way you are right”.  I’m out there, I’m energized, and I’m doing business differently.  How can you get re-charged, re-energized?  Energy creates energy and from that great positive things will come your way.

Don’t through away the fundamentals, use them as your foundation, but get out there and shake things up, educate your customers and clients about the “real state” of Real Estate, it is local, it’s changing and buyers may well be missing the boat on some great deals, with near historical interest rates.  Happy New Year

Visit my new Website at http://www.MaineHomesForSaleOnline.com

  We have already seen marked improvement in many local markets in comparing this year to last years sales/units and 2008 promises much more of the like.  What do I mean, there will be challenges, our mortgage options are in a state of change, which is pushing that industry to take a good look at it’s self, and asking how can we do this better?  The same should hold true for our Industry.

Now while we have time to consider how we have done business in the past, and with all the changes that have been introduced, how do we provide a higher level of service to our clients going forward?

 Yes technology will play a huge part in how we strive to provide the greatest level of exposure and instant follow-up with prospective buyers, but really nailing the system and routines, creating a repeatable business model, focusing on building strong relationships, is how we are going to provide a higher level of service for our clients.

Anyone who has ever had a bank account, mortgage, credit card, car loan, or account with a retail store will have a credit rating.  Most information in your credit rating comes from companies you have credit with, as well as from certain public records such as tax liens, bankruptcies, judgments and lawsuits. It is important to know and understand your credit rating, how the information is compiled, and how it affects your ability to acquire a loan for your new home.

Credit reports are usually divided into five sections:

1. Your credit history.
2. Who has reviewed your credit history.
3. Information you have provided for the credit company.
4. Specific identification information about you.
5. Explanatory notes and comments.

Different states have different requirements, so you need to check out what applies to you. There are three major credit-reporting agencies, Trans Union, Experian and Equifax.

I can recommend a reputable mortgage lender who has the reputation of providing excellent service and good rates. This lender will be able to immediately pull your credit report for your review and can make recommendations of how to make it better. The better your credit score, the higher your credit rating will be.

This is just the first step to home ownership. Having a Buyers Agent working with you, on your behalf, will provide guidance through all the necessary steps in the purchase of your first home.

I have a number of lovely homes, perfect for the first time Buyer, visit http://www.HemingwayAndRowe.com to see all of my listings.  To search the Maine MLS, go to http://www.MLSsearchPlus.com and you will find listings plus you will see the average days on the market, average price under list price, and much, much more.

As always, please feel free to call me with any questions you may have.  My cell number is  207-653-2575.

Those who bought mid-priced houses in the mid-1990 s, now find themselves living in houses worth a small fortune. Unlike stocks and bonds, a home can’t be sold quickly for a profit. There are financial ramifications to selling a piece of real estate and moving. And even if you can find a buyer, many long time real estate owners simply don’t want to sell. A few tips from financial advisers may help.

For most individuals, a piece of real estate becomes an integral part of their identity, of who they are.  Their status in the area is linked to their dwelling, which also holds memories of raising children and the sweat and hard work that went into improving it. All this can make it challenging to sell, even if it’s financially smart.

Some individuals will pay almost any price to stay in their homes for as long as possible.  If you know you have to sell, try first going out and finding a new house where you’d love to live. That may make it easier to load up the moving trucks. While lamenting the piece of real estate you’re losing, you can also get excited about the one you’ll be gaining.

If you’re planning to retire soon, you’ve most certainly already played with the numbers: How much will you have to live on? How much will you need? The value of the Maine real estate you own is apt to come into the equation eventually.

If your piece of real estate is worth a lot, and you don’t mind moving to a cheaper home , you can unlock a lot of extra retirement money by downsizing. The cash raised can provide money to live on early in retirement, while you leave other accounts — like individual retirement accounts — untouched. That gives your savings more time to grow untouched. It also gives you more flexibility in dodging tax bills.

Talk to an accountant or planner to make sure your calculation of the benefits of downsizing is correct.

Visit http://www.MaineRealEstateForSale.org for more market trend information. To find out what your home is worth, visit http://www.MLSsearchPlus.com you will be emailed the results in less than 30 min.

The sources for information contained in this article came for mutiple publications, including Buisnessweek, Quickies.

In fact, many people feel buying a home this time of year is advantageous, as there are some financial advantages that disappear after the first of the year.

Home Sellers are in a better position, there is less inventory, as a result,  homes listed could sell quicker and for a higher price.

Holidays are a very busy time of the year, only the really serious buyers are shopping, including the out of town transferees, often times the most qualified buyer.

The excitement of the holidays is a selling point.  Homes decorated for the season project warmth to buyers, causing them to “mentally move in.”  Buyers pay more for a home than a house.

I want to share with you a new Holiday listing I have, go to www.MaineRealEstateForSale.org this is my blog site, and there you can see all of my listings on the listing page, as well as view many articles about our Maine specific market trends.

If you are thinking of selling your home, now is the time to get your home on the market.  We have no crystal ball to see if interest rates will remain this low, as well as we have no idea if we will retain favorable tax advantages for home ownership in 2008.  Many things could create a less favorable market to sell in.

If you are interested in selling your home, or know someone who is, please email me at CindyRowe@TopProducer.com for additional information on Selling During The Holidays.

• The health of the local job market
• Foreclosure rates
• Housing inventory
• Debt-to-income ratios
• Mortgage-servicing-costs-to-income ratiosThese reports reflect data available through October 2007. 

Home prices in the Greater Portland Metro Region encountered a boom in 2002 to early 2005, but prices have been falling in recent quarters. Homes do not appear to be overpriced. With job gains continuing at a solid pace, home price increases will likely continue, though not at a frenzied pace. A sharp reduction in new-home construction will help control the overall inventory situation. Resetting loans and the rising number of foreclosures related to the subprime fallout are clearly negative factors, but the impact will be offset by the fundamentals of the healthy local economy.

Despite some media reports of the worst housing market conditions since the early 1990s, or even since the Great Depression, the recent home price declines have been negligible at the local level. Unlike past local housing down turns, which were accompanied with severe job cuts, the local economy continues to add jobs.

Apartment rents have been rising at the highest pace in five years, which will begin to encourage some renters to seriously consider ownership. Mortgage rates have also been falling recently and stood near a historic low of 6.5% for prime borrowers. Rates could be even more favorable in upcoming months as the Federal Reserve cuts the federal funds rate in late 2007 and in 2008 as there are clear signs of contained inflation. A revival in FHA loans, which had lost substantial market share to the risky subprime market, will provide funding for low to moderate income households at much more attractive mortgage rates. If a modernization of FHA loans is implemented including lower initial payment requirements, higher loan limits, and risk-based pricing then there could be a surge in FHA loan usage. The outlook is positive. Homebuilders having drastically cut production will help minimize prolonged oversupply conditions. Further production cuts by builders, which is encouraged, will help the market to more quickly return to a healthy state. On the demand side, job gains have added to the number of potential homebuyers. Historical relationships imply roughly one additional homeowner for every two additional new jobs. Since the peak of the housing market two years ago, the local market added 1,800 net new jobs (August 2007 vs August 2005). A rise in home sales and a strengthening in home prices appear imminent.

Sales activity has come down and home prices have also been falling in the Portland area. However, the local economy is generating jobs at a healthier pace. The Boston region has picked up strongly, which usually implies that Portland will not be too far behind. The national economy is also fundamentally sound due to rising exports and business spending. Consumer spending will be a bit weaker because of stagnant home price and its accompanying wealth impact. One interesting observation is that the continuing low mortgage rates have not led to more buyers - implying that there is an issue of confidence, or lack thereof - in the homebuying decision. Also, the recent subprime fallout is a concern, though the shakeout will be good for the housing market over the long-run as the market eliminates bad mortgage lenders. Inflation appears to be contained. Both the headline and the core consumer price index decelerated to 2.8% and 2.1%, respectively, over the past 12 months to September. Better yet, most economists anticipate a further deceleration of inflation in 2007. Such an outcome could well lead the Federal Reserve to cut the federal funds and prime rates down the road. A fed funds rate cut is no guarantee of a fall in mortgage rates, but the signal that inflation is contained will force bond buyers to demand lower inflation premium, and hence, lead to lower mortgage rates as well.

With job additions continuing (possibly at a faster clip going forward) and mortgages rates hovering at about 6.4% as of early October 2007, the housing market is poised to climb back. With home prices so affordable it is possible to get a spurt. If, however, mortgage rates were to rise to 7.5% or higher, then the housing market would continue to limp along with the possibility that home prices and overall housing wealth could fall. If rates were to move lower, then the market will recover at an even quicker pace.

This has been just a small look into the 14 page report.  For those of you who would like to see the complete report, please email me at CindyRowe@TopProducer.com  I’m happy to send you a copy.

Buying or selling a home is likely the largest transaction a person will make in a lifetime. Therefore, it’s understandable that people want to feel they have bought or sold a home at a “fair” price and dread feeling like they left significant money on the table or spent too much.

But how do we determine what is “fair?” Simply put, the fair market value of a house is the highest price an informed buyer will pay, assuming there is no unusual pressure to complete the purchase. Too often, this is different than the asking price. Determining fair market value will give potential buyers and or sellers a realistic outlook on the current Maine real estate market.

If you are interested in determining the fair market value of your home, feel free to contact me and I will be glad to prepare a Competitive Market Analysis (CMA) of your house.   To see what homes in your area are selling for, visit  www.MLSsearchPlus.com for that and other market statistics for your neighborhood.

The Real Estate agency that I’m affiliated with, located in Southern Maine, is ERA Today Realty.  ERA Today Realty has always been a large supporter of this effort, and has raised tens of thousands of dollars annually for this very important initiative.  This year, ERA Today Realty is taking the concepts of giving to the next level, by introducing an ERA Today Realty community outreach program, which I’m happy to say I’m participating in.

This year our efforts and giving turn to 14 year old Jesse Jordan, of Standish, Maine.  Jesse has Muscular Dystrophy, and is bound to his wheel chair, which you never hear him complain about.  Jesse’s only wish is to have more room in his small bedroom.  It currently is only large enough for a bed, dresser and room for his wheel chair, add in his service dog and nobody moves.  Our goal is to create a space that will give Jesse plenty of room for his hobby of model building, as well as room to have his friends come over and play video games with him.

His mother and stepfather have have renovated part of their existing home to accommodate some of Jesse’s unique needs, but just haven’t been able to manage an addition onto the house for his bedroom to be made larger with direct access outside.  When we heard of Jessie’s space needs, we turned to Home Construction Inc., of  Yarmouth, Maine  www.MaineHomeConstruction.com to see if they could assist us with this endeavor.  Not, only have they agreed to participate, but have engaged their subs to donate their time, various other suppliers to donate materials, and we are well on our way to creating a great space for Jesse.

We still have many needs, and need your help.  If you are interested in donating money or supplies, please contact me by email.

Now I count my blessings every day, and when I learned about the Upromise program that is offered through ERA, I said sign me up!

Now when you buy or sell a home with me, you can get 1/3% of the home’s sale price as college savings in your Upromise account.  And that’s not all.  ERA Real Estate Agents are just one of hundreds of Upromise contributing companies - all waiting to contribute a portion of what you spend with them into a Upromise account for your child, grandchild, or any future college student you would like to support.

Grandparents, aunts, uncles and friends can join too!  You don’t have to be a parent to care deeply about a child’s future.  Upromise makes it easy for family and friends to join and start getting college contributions to pass along to one or more children.

From major purchases to everyday expenses, make it all count for college.

To find out more about how you can participate, please email me and I will be happy to walk you through the process.