Thinking about selling your house? If you are, you might be weighing factors like today’s mortgage rates and your own changing needs to figure out your next move. Here’s something else to consider. According to the latest Home Purchase Sentiment Index (HPSI) from Fannie Mae, the percent of respondents who say it’s a good time to sell is on the rise (see graph below): Why Are Sellers Feeling so Optimistic? One reason why is because right now is traditionally the best time of year to sell a house. A recent article from Bankrate says: “Late spring and early summer are generally considered the ..read more

Exploring Maine: Answering Your Most Asked Questions Maine, often referred to as the Pine Tree State, is a place of natural beauty, rich history, and unique culture. As a realtor specializing in Maine properties and someone deeply passionate about this state, I often receive inquiries about various aspects of life in Maine. Today, I’m excited to delve into some of the most frequently asked questions about Maine and provide you with detailed answers to satisfy your curiosity. Where is Maine Located? Maine is located in the northeastern region of the United States, bordered by New Hampshire to t ..read more

Ever thought about living in the same house with your grandparents, parents, or other loved ones? You’re not alone. A lot of people are choosing to buy multi-generational homes where everyone can live together. Let’s check out why they think it’s a good idea to see if it might be a good fit for you, too. Why People Are Choosing Multi-Generational Living According to the National Association of Realtors (NAR), here are just a few key reasons buyers opted for multi-generational homes over the past year (see graph below):   Two of the top reasons had to do with aging parents. 27% of buyers ..read more

If you’ve been keeping up with the news lately, you’ve probably come across some articles saying the number of foreclosures in today’s housing market is going up. And that may leave you feeling a bit worried about what’s ahead, especially if you owned a home during the housing crash in 2008. The reality is, while increasing, the data shows a foreclosure crisis is not where the market is headed. Here’s the latest information stacked against the historical data to put your mind at ease. The Headlines Make the Increase Sound Dramatic – But It’s Not The increase the media is calling attention to ..read more

If you’re thinking about buying a home, chances are you’ve got mortgage rates on your mind. You’ve heard about how they impact how much you can afford in your monthly mortgage payment, and you want to make sure you’re factoring that in as you plan your move. The problem is, with all the headlines in the news about rates lately, it can be a bit overwhelming to sort through. Here’s a quick rundown of what you really need to know. The Latest on Mortgage Rates Rates have been volatile – that means they’re bouncing around a bit. And, you may be wondering, why? The answer is complicated because rat ..read more

According to recent data from Fannie Mae, almost 1 in 4 people still think home prices are going to come down. If you’re one of the people worried about that, here’s what you need to know. A lot of that fear is probably coming from what you’re hearing in the media or reading online. But here’s the thing to remember. Negative news sells. That means, you may not be getting the full picture. You may only be getting the clickbait version. As Jay Thompson, a Real Estate Industry Consultant, explains: “Housing market headlines are everywhere. Many are quite sensational, ending with exclamation poi ..read more

Some Highlights When it comes to the current housing market, there are some myths circling around right now. Some of the more common ones are that it’s better to wait for mortgage rates to fall or prices to crash. But there are others about the supply of homes for sale and down payments.  Lean on a real estate professional to help separate fact from fiction in today’s housing market. The post Myths About the 2024 Housing Market [INFOGRAPHIC] appeared first on Make Maine Your Home ..read more

Over the past year or so, a lot of people have been talking about how tough it is to buy a home. And while there’s no arguing affordability is still tight, there are signs it’s starting to get a bit better and may improve even more throughout the year. Elijah de la Campa, Senior Economist at Redfin, says: “We’re slowly climbing our way out of an affordability hole, but we have a long way to go. Rates have come down from their peak and are expected to fall again by the end of the year, which should make homebuying a little more affordable and incentivize buyers to come off the sidelines.” He ..read more

You may have seen reports in the news recently saying it’s more affordable to rent right now than it is to buy a home. And while that may be true in some markets if you just look at typical monthly payments, there’s one thing that the numbers aren’t factoring in: and that’s home equity. Here’s a look at how big of an impact equity can have and why it’s worth considering as you make your decision. What the Headlines Are Based on The graph below uses national data on the median rental payment from Realtor.com and median mortgage payment from the National Association of Realtors (NAR) to compare ..read more

If you’ve got a move on your mind, you may be wondering whether you should wait to sell until mortgage rates come down before you spring into action. Here’s some information that could help answer that question for you. In the housing market, there’s a longstanding relationship between mortgage rates and buyer demand. Typically, the higher rates are, you’ll see lower buyer demand. That’s because some people who want to move will be hesitant to take on a higher mortgage rate for their next home. So, they decide to wait it out and put their plans on hold. But when rates start to come down, thin ..read more