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Displaying blog entries 141-149 of 149

pre-closing difficulties

by Deborah Barouch
I have been selling realestate for over 20 years but it never ceases to amaze me the difficulties that can come up before a closing. Last week we got a panicky call from a title company that informed me of an undischarged mortgage on the property we were about to close on. These things can be difficult to track down in a timely manner. Fortunately we found the local title company who had handled the "refinance" and I made a personal call to the owner to speed things forward so we could close on time. It pays to have local connections and a good network.

August in Maine is tranquilizing!

by Deborah Barouch

August is Maine is a treat that many visit here for. Those of us who live here need to remember to enjoy it!  We have gotten out on Casco Bay quite a bit this summer on our boat. Since we keep our boat moored right off our neighborhood dock in the Seabourne Association in Yarmouth it is only a short stroll down the street to our beautiful waterfront. Many of our neighbors have kayaks or dingey's right on the dock. We all enjoy immediate access to numerous small islands.

Last week we visited French's island.  We pulled in to the little protected cove set out our anchor and rowed in in our dingey to explore. There is a lovely little sandy beach.  Afterwards we picnicked on our boat before heading back cruising along between Little John island and Cheabeague island.It was quite choppy and we were glad to arrive back at our home dock and get our boat back on the mooring.

Several days before that we headed out to Jewell island which is the farthest island out in Casco Bay. It is rewarding to make the effort. When we reached the little protected cove we found an anchoring spot quickly. Swimming was delicious! There are 2 world war 2 lookout towers to climb on Jewell, and the views are stunning!

 

Real Estate Statistics

by Deborah Barouch
Maine Real Estate Statistics
Maine Real Estate Prices Climb Slightly;
Sales down in June
 
 
South Portland (July 26, 2007)-Sales of Maine real estate cooled during the traditionally busy June summer sales period. Though sales decreased in accordance with national trends, statewide home prices are on the rise.
 
According to the Maine Real Estate Information System, Inc., Realtors sold 1,316 single-family existing homes I June 2007-- a 16.76 percent decrease from June 2006, when 1,582 homes changed hands. The median sales price for homes sold last month reached $199,950 up 0.48 percent. The median sales price indicates that half of the homes were sold for more and half for less.
 First Half Year
From January 1, 2006 - June 30, 2006 to January1,2007-June 30, 2007
County #Units sold
2006
#Units Sold
2007
% Change MSP
2006
MSP
2007
%Change
Statewide  6449 5637 -12.59% $194,500 $195,000 0.26%
Cumberland 1618 1480 -8.52% $249,900 $249,900 0.00%

 

 

National Statistics
National Prices Rise, Sales Slow

Existing home sales declined slightly from May to June, according to a recent report by the National Association of REALTORS® (NAR). Even so, prices increased slightly during the month as inventory levels reduced. The overall national market for existing homes slowed 3.8 percent in June. NAR has revised its existing home sales forecast but still anticipates 5.75 million units to be sold in 2007.

The thirty year conventional, fixed rate mortgage has risen to a national average of 6.66 percent in June, compared to 6.26 percent in May. This is close to the 6.68 percent available in June 2006. Despite this increase, NAR president Pat Combs explains that today's buyer has a lot of opportunity. "You really need to consult with a knowledgeable real estate professional about local market conditions," she said. “Experience is one way REALTORS® add value to the real estate transaction, and a reputable agent is your best resource to navigate the current market, whether it's moving up or down."

Average Sales Price of Existing Homes by Region
Date U.S. Northeast Midwest South West
2004 $244,400 $273,600 $189,400 $215,600 $324,300
2005 266,600 297,000 203,800 231,700 363,800
2006 268,200 299,700 205,300 230,000 371,300
01/07 257,300 292,500 194,700 222,500 352,300
02/07 260,100 292,200 188,400 225,200 366,700
03/07 265,200 302,100 199,100 227,300 365,200
04/07 268,100 308,500 200,100 226,700 373,100
05/07r 270,600 313,200 204,300 229,700 372,000
06/07p 276,700 319,600 212,500 239,300 370,300
Statistics from the National Association of REALTORS®

June statistics for existing homes were lower across the country. Northeast home sales fell 7.3 percent while homes sales in the Midwest increased 2.8 percent. The Western region saw a decline of 6.8 percent during this time, and sales in the South eased 1.7 percent.

Coming soon New Portland real estate Feb. statistics

by Deborah Barouch
We are crunching the numbers next week for the Feb. Portland area statistical update. It compares the Feb. numbers 07 with the Feb. numbers in 06. for number of listings, number of solds and number of pendings in Cumberland County. If you want to recieve our newsletter email us. Best Regards-     Deb Barouch   PSS Isn't it great to have such nice snow! We went snowshoeing yesterday and plan to go today.

multiple offers yesterday

by Deborah Barouch

Yesterday we had multiple offers on 1 of our new listings.It proves that if a property is desirable and priced right then it will get action in this marketplace. There are 2 schools of thought on pricing. #1  price it just above market value so you can have some negotiating room and   #2 price it right at market value and it could generate multiple offers that ultimately net you more in the end. That's it for now. Hope the storm in Maine today does not do any damage.

Realtor for "The Family"

by Deborah Barouch

Yesterday I showed an excellent property to the mother of some past clients. It is a very comfortable arrangement because the level of trust is already there and it is very easy to communicate when the client feels comfortable. I always appreciate these referrals. Last year I helped 3 individual members of the same family all in an 18 month period! My client loved the ranch I showed her, it was right around the corner from her daughter and in an excellent neighborhood. It had all updated systems:new furnace, new windows, new roof and hardwood floors and a fireplace. All it would need would be to spruce up the kitchen and baths.  It is a "gem" in the rough. It's amazing the "good" buys that are popping up in this marketplace now.It would also make a perfect investment property. My client plans to rent it until she can move here in a couple years.

Recently I have become more aware of my  environmental responsibilities . I have realized that I must do as much as I can to protect my beautiful state from the effects of global warming.  Our economy depends on keeping Maine as pristine and pure as we can. Therefore we must be as proactive as possible in promoting a "Green" environment. With that in mind, I have decided to offer to all my clients who buy or sell a property from me in Maine, 1% [of my real estate commission] at closing payable directly to any "Green" organization of their choice [that meets the IRS guidelines] There is only 1 restriction on this. All they need to do is ask me and this will apply until Dec.31, 2007.  I look forward to helping you keep our state beautiful. GO GREEN!

Last weekend I was fortunate to attend this conference on the middle east. Senator William Cohen was a keynote speaker and there were many other interesting topics and breakout sessions including a delightful evening at the Embassy of Tunisia. We were hosted by the ambassador himself. It is possible he will come to Maine this June to speak at the World Affairs council of Maine in Portland. As Vice-President of the World Affairs Council of Maine, I felt that it was important to attend this year. We also attended workshops that allowed for sharing tips from other WACA organizations about fund-raising and Board dynamics. I was surprised at how many of my fellow attendees at the conference were interested in Maine and retiring in Maine and interested in buying real estate in Maine. Portland, Maine is now in the national spotlight as a trendy new desirable city that is culturally rich with a diversity of offerings. Several weeks ago Portland was written up in USA Today and this generated even more interest.

When we boarded our flight home to Portland, we saw Susan Collins and I was reminded how hard our delegation in Congress works for us.As we flew over Peaks island, my breath was taken away about how beautiful it was with its white snowy edges contrasting to the brilliant blue sea. Home again at last!

Client from D.C. closes on "dream condo"

by Deborah Barouch

Yesterday was a happy event. I helped my client close on her dream piece of real estate in the Old Port. She lives and works in the D.C. area and is a scientist with the Smithsonian. She has children in college in Maine and so she fell in love with Portland while traveling through. It will provide a relaxing getaway spot where she can shop, eat in great restaurants and visit childhood friends. It is in a historic brick building and has some views of the harbor. A perfect "pied-a-Terre" in the city. It was very satisfying to experience her happiness.And to get to know her family. As usual we had a number of obstacles to overcome to get to closing and it took hard work and tenacity. But it makes it all Worth it when there is a happy ending.

 

 

 

 

Displaying blog entries 141-149 of 149

Deb Barouch 
DBarouch@kw.com
207-838-4875
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