Paul's Blog

Buying a first home- in the winter- in the North East?

Paul Diou (Maine Realty) — Sun, 13 Dec 2009 10:24:44 -0600

So, you want to buy a home- but its winter time and you live in the north east-

Great! lets get our boots, our hats and some MLS brochures!

Every day is a great day to buy or sell real estate- don't let some chilly weather, piles of snow- slick freezing rain or dark afternoons stop you from taking advantage of this wonderful market for buyers!

look at all the postives for buying right now;

First time home buyers credit expanded into 2010!
Home buyers credit expanded for existing home buyers!
A wonderful buyers market in many areas
Rebates from Maine Realty LLC = 1% of purchase price
Motivated sellers who must sell!
Foreclosures in the market!
Short Sales in the market!
Lowest prices in years!

Right now is a great time to be buying in the North East!

Live in Maine? Just call Paul at 671-6604 for more info

Lenders

Paul Diou (Maine Realty) — Mon, 30 Mar 2009 22:20:43 -0500

I cannot help but wonder where have all the good lenders gone as of lately: I am the first Realtor to tell you that tighter regs were warranted and needed to stop the proliferation of bad loans that ran rampant throughout Maine only years ago. But where are all the good lending programs? There has to be some type of middle ground between loose irresponsible lending that borders on the line of fraud and programs that are flirting with being so restrictive that the average Mainer cannot fulfill their dream of home ownership. I am huge believer in the thought that people should save their money, reduce their debt and set achievable goals- I also think that most people who truly want to get ahead in life SHOULD take some form of controlled risk- they SHOULD come outside of their comfort zones a little bit- Real Estate investing is a great way to take that controlled risk. It can come in the form of a owner occupied multi unit- with a savings and income to back up the responsibility- but it doesn't have to be reserved only for those who have the 80,000 cash to put down as a down payment. I hope that lenders tighten their belts, open their minds and then start writing checks to those out there who would step up and take acceptable risk with proper knowledge- I think the entire housing market and overall economy would thank them.

Q&A for MaineListForLess.com

Paul Diou (Maine Realty) — Mon, 12 Jan 2009 19:35:57 -0600

For Sale "With Owner" www.mainelistforless.com

Paul Diou (Maine Realty) — Mon, 12 Jan 2009 19:30:38 -0600

Welcome to Maine List For Less.com!

www.mainelistforless.com

"For Sale With Owner and Maine Realty"

The way selling Real Estate should be!

Our service is simple and effective. We will list your home "For Sale With Owner and Maine Realty" for only $500!

We offer Maine Resdients a convenient and cost effective approach to take the hassle out of selling their homes.

For $500 up front we place your home on the Multiple Listing Service, we show case your home on the popular Realtor.com website with up to 25 photos! For a small $60 fee we can place a sign in your front yard letting potenial buyers know that your home is on the market, and we screen and forward all prosepective buyers directly to you! You will conduct all showings and open houses and you can negotiate your own selling price and terms. We will set up all of the legal disclosures that are required by Maine and Federal law and help with the transaction all the way to the closing. At closing $500 is paid to the listing agent- this is a great way to sell your home while getting the marketing exposure you need and saving potentially thousands of dollars in commissions. We also help you determine a cost effective (and cost savings) co-broke that you will offer other real estate agents who bring you buyers because they found your home on the MLS!

No one will ever have to sell their home alone again, now you can partner with Maine Realty to make this process easier, and save you money!

About Maine Realty (Portland Maine)

Paul Diou (Maine Realty) — Mon, 12 Jan 2009 19:24:15 -0600

If you use Maine Realty when you're looking to buy your first/ next property, your Maine Realty agent will: provide access to all MLS listings, set up showings, be ready to conduct negations, obligations and paperwork between you and the seller, (or the seller's real estate agent) i.e. disclosure forms, offers, purchase & sale agreements and sales contracts. He/she will also stand ready to offer assistance, if requested, in, setting up meetings with loan officers, arranging the various inspections, and finally the closing.

THE BEST PART, with choosing a Maine Realty agent to represent you when buying your first/ next property, is not only that you will receive the highest level of committed, professional, knowledgeable and courteous, service in facilitating what's listed above, you will also receive a rebate check in the amount of 1% of the sales price at closing.

Too good to be true?

Try us out and let us put our reputation on the line for you.

Listing property: Maine Realty represents and maintains a full fiduciary responsibility to the seller of any property that is exclusively listed with Maine Realty. When an in-house buyer purchases a Maine Realty Exclusive Listing, the 1% rebate will be paid to said buyer at closing.

Buyers Agency in Maine with Rebates?

Paul Diou (Maine Realty) — Mon, 12 Jan 2009 19:21:27 -0600

Having a buyer's agent is key to your success when you are buying a home, an investment property, a piece of land or commercial property. A buyer's agent works exclusively for you and helps in ways that cannot be imagined- from expertise in a particular area, to the experience to know of potential deals before anyone else does. A great buyer's agent often means the difference between getting the property you want and not. I offer full service buyer's agency and best of all my services usually never cost my buyer's any money- in fact my buyer clients get a check from me at closing!

Maine Realty is proud to be a full service real estate company in the State of Maine that has made it an option to pay buyers, who purchase ANY properties (listed with ANY agency) through Maine Realty, a rebate of 1% of the sales price at closing*.

Too good to be true?

Call:207-671-6604!

See the article at the link below for some great information from the Department of Justice on why rebates are a good thing for buyers

(make sure to bookmark my home page in your favorites so that you can come back to my site).

Click here for info from the Department of Justice on how rebates benefit home buyers!

http://www.usdoj.gov/atr/public/real_estate/rebates.htm

The information provided is deemed to be accurate but is not guaranteed

Maine Realty LLC encourages all clients to seek professional legal and tax services.

**Maximum Sales Price for Rebate Calucation is $1,000,000

Maximum Rebate is $10,000 USD Maine Realty pays 1% of the purchase price up to $1,000,000

Some Restrictions apply- Not available on all transactions- call for more info today!

Real Estate Rebates in the State of Maine

Paul Diou (Maine Realty) — Mon, 12 Jan 2009 11:35:26 -0600

January 2009

The State of Maine allows Realtors (Agents, Brokers under an Agency) to offer Real Estate Rebates to customers and clients- The US Department of Justice promotes such rebates as they foster competion- in fact there are only a handful of states that do not allow Real Estate Rebates, and several of those states have been sued by the Us Department of Justice for limiting competiton by promoting their anti rebate laws.

see the link below for what the US DOJ has to say about Real Estate Rebates:

http://www.usdoj.gov/atr/public/real_estate/rebates.htm

I think Real Estate Rebates are an awesome tool- and I am proud that Maine Realty (Portland Maine) offers them to our customers. Our rebate program is simple, if you purchase a property through Maine Realty as your buyers agent we give you a cash rebate- payable at closing for 1% of the purchase price of the property. Maine Realty can do this because it gives such a high percentage of its commission back to its agents and brokers (typically 90% of the gross split).

Real Estate rebates allow buyers to have more money in their pocket- they are not getting a discounted service when they get a rebate - they are getting full buyer agency representaion from start to finish-

I have heard many Realtors in my area speak badly of real estate rebates, simply because they do not know anything about them- and because their agencies have a policy of not allowing rebates most likely because the rebate would cut into their bottom line.

Where I am a 90% broker at my agency, Maine Realty can offer the wonderful gift of a 1% rebate to my clients and customers and I will still net more commission than if I was working at a traditional "large big box" agency so it is a win/win for me, my clients, and my agency.

I would love to hear any comments that anyone has on these rebates- also I'd love to hear from buyers who are looking to purchase property in Maine and would like to get paid a cash rebate at closing!

Our program pays 1% of the purchase price up to 1,000,000 maximum rebate of $10,000

for more info see my website: www.sellwithpaul.com

from http://www.usdoj.gov/atr/public/real_estate/commission_table.htm

Consumers Can Save Thousands of Dollars in Commissions

Consumers who live in states permitting them the option to choose innovative brokerage options, such as rebates or fee-for-service MLS-only packages, can potentially save thousands of dollars on commission payments.

This table shows that consumers can save as much as $7,500 in commissions on the sale of a median-priced home.

Table: Brokerage Options and Potential Savings on Home Sold for $222,273

OptionSeller's Broker CommissionBuyer's Broker CommissionTotal CommissionSaving

Full-Service (5.2% commission)	$5,779	$5,779	$11,558	$0
Option 1: Buyer's Broker Rebate (1%)	$5,779	$3,557	$9,419	$2,222
Option 2: Fee-for-Service, MLS Only	$500	$5,779	$6,336	$5,279
Options 1 and 2 Combined	$500	$3,557	$4,083	$7,501

A unique time to be buying is here!

Paul Diou (Maine Realty) — Mon, 12 Jan 2009 11:15:42 -0600

January 2009- A GREAT TIME TO BUY!

I am telling all of my investor clients that now is a great time to be buying- many think that because of the winter snow and the doom and gloom in the air that they should keep still- I am encouraging them to the opposite:

Right now presents some of the best buying opportunities in a decade in my current market. I've been promoting a real estate investors approach to buying in this market. While it is surely scary for some to think about laying down a sizable amount of money in a housing market that is being beat up on the new nightly- it truly is a great time to put your money to work for the long term.

While Maine has not seen the huge rise in foreclosures that some parts of the country has there are still a fair share of opportunities out there for short sales, and pre foreclosures that make this truly a great time to pick up a property at a great price. While you might not be able to flip the purchase in three months, you will be able to hold on to it and nurture it so that you can take a healthy return on your investment.

Cheers,

Paul.

Rebates

Paul Diou (Maine Realty) — Sun, 15 Oct 2006 22:51:36 -0500

A trend that was made popular on the west coast is the issuing of rebates to buyers after a closing, this is also known as fee splitting. Many of the agencies who issue such rebates often give a percent of the purchase price back to the buyer if the buyer chooses that particular firm to be the selling agent. This percent is normally 1% of the purchase price.

This rebate is often viewed favorably from the buyers and selling agents alike. The rebate is a tool the selling agent can use to show the buyer the value of choosing them. The buyer gets the added benefit of getting a rebate at their closing.

If you are not familiar with these rebate programs, you should do some research online, and check with your local real estate commission. 41 states (including Maine) allow such rebate programs in some way. Each state has the ability to place specific restrictions and guidelines to any fee splitting program.

These rebate programs should not be confused with "Kickbacks". These rebate programs are legitimate practices which owners and designed brokers can use in their businesses. When these programs are used within the guidelines of the law they can be great tools to promote competition, especially in a market where real estate sales have slowed or are softening.

Paul Diou

Timing is everything

Paul Diou (Maine Realty) — Fri, 13 Oct 2006 02:21:38 -0500

When it comes to getting back to customers or potential customers, five minutes is too long let alone 8 hours. First and foremost real estate professionals are in the business of lead generation--at all times. This means that we most always, always put our clients and customers above our own good and wellbeing. There is something so basic about this concept that sometimes it gets over looked.

by being there for the clients whenever they need us to be there, gives the impression that we are going to be there for them at a drop of a hat (which we mostly likely will be at this point)

The morale of the story: Knock on more doors, thank people and give them your info: it’s as easy as that

Why Maine?

Paul Diou (Maine Realty) — Fri, 13 Oct 2006 01:59:10 -0500

Welcome to Maine

Largest of the New England states of the NE United States. It is bordered by New Hampshire, the Canadian provinces of Quebec and New Brunswick, the Atlantic Ocean (the Gulf of Maine), and the Bay of Fundy.

Area, 33,215 sq mi (86,027 sq km).
Pop. (2000) 1,274,923, a 3.8% increase since the 1990 census.
Capital, Augusta.
Largest city, Portland.
Nickname, Pine Tree State.
Motto, Dirigo [I Direct].
State bird, chickadee.
State flower, white pine cone and tassel.
State tree, Eastern white pine.

Manufacturing is still the largest sector in the state's economy. Maine is a leading producer of paper and wood products, which are the most valuable of all manufactures in the state. Food products and transportation equipment are also important, but production of leather goods (especially shoes) has declined. The mineral wealth of the state is considerable. Many varieties of granite, including some superior ornamental types, have been used for construction throughout the nation. Sand and gravel, zinc, and peat are found in addition to stone. However, much of Maine's abundant natural and industrial resources remain undeveloped.

Agriculture has always struggled with adverse soil and climatic conditions. Since the opening of richer farmlands in the West, Maine has tended to concentrate on dairying, poultry raising and egg production, and market gardening for the region. The growing of potatoes, particularly in Aroostook County, was stimulated by the completion of the Aroostook RR in 1894. Blueberries, hay, and apples are other chief crops, and aquaculture is growing in importance.

The population of Maine is centered on the cleared land along the coast and major rivers, Augusta is the capital; Portland, Lewiston, and Bangor are the largest cities. Maine's two great parks are Acadia National Park on and around Mt. Desert Island; and Baxter State Park, which includes the northern end of the Appalchian Trail at Mt. Katahdin in the N Maine wilderness.

*Information from Columbia Encyclopedia, Sixth Edition

Knowing the mortgage market as well as the real estate market

Paul Diou (Maine Realty) — Fri, 13 Oct 2006 01:46:21 -0500

Buyers beware!

It is safe to say that there is a percentage of first time home buyers who are not well versed in the finer points mortgage financing. Real Estate agents and brokers therefore have a responsibility to guide first time home buyers through what can easily become a tangled maze. If you are thinking of buying a home and you are not pre-approved, you need to do so right away. If you feel that you are not equipped to make a final decision you should be able to use your Real Estate sales professional as a spring board for questions, key points and direction.

Real Estate professionals, as a whole need to immerse ourselves into all aspects of the home buying process, not just the ones that we touch directly on a regular basis. Anyone who has helped guide a first time buyer through the process I am sure would agree with me;

So Buyers, when reviewing which real estate agent/broker to sign with make sure to calculate their knowledge in all aspects of homeownership, not just the obvious knowledge of the local market.

Paul Diou

Moving Van? Gimmick or genius?

Paul Diou (Maine Realty) — Thu, 12 Oct 2006 00:25:29 -0500

We have all seen the ad in the paper, the real estate journal or even passing us on the local high way. Buy or Sell with agent X and get the use this moving van for free.

Does this gimmick and others like it really work? My response is yes. People love to get freebies, and in this line of work that is something that we can offer. We can be the sounding board for people’s journeys and conquests into real estate. Something as simple as supply clients with a moving van is a gesture of our sincere hope that they will think of us again in the future. It is our way of guiding them through one of the most significant purchases of their life.

Some might call these gimmicks in the negative connotation of the word, but I see their relativity and I personally feel that it is these little things that make the difference for most clients. Treat the clients better than you would treat yourself and you will have customers, and referrals for life.

Paul Diou

Real Estate Professionals have a special obligation to Sellers in this Market.

Paul Diou (Maine Realty) — Thu, 12 Oct 2006 00:17:10 -0500

Sellers in the current market might find themselves in trouble if they do not have someone to guide them through the current market conditions. According to the National Association of Realtors Existing-home sales stabilized at a sustainable pace in August, while home prices showed an anticipated decline, according to the National Association of Realtors^®.

What does this mean for sellers? It means that real estate agents, associate brokers and brokers need to take special care to explain the current market in detail to all sellers. It is only human nature for these sellers to compare the "price they want today" for their homes to the prices they saw their friends and neighbors getting only a short 12 months ago. The cyclical nature of the real estate business is not something that we as real estate professionals should shy away from. We owe it to the sellers to educate them on the workings of the market, and to inform them of the soundness of their investments in general.

While no one can time the market perfectly, we can at any given time give our sellers the best possible information about what is going on in the current market; even if that means that we appear to be the bearer of bad news. We need to stabilize the reactions of sellers so that the market in general continues at a healthy and adequate level.

Paul Diou

Thinking of buying a home?

Paul Diou (Maine Realty) — Thu, 12 Oct 2006 00:04:15 -0500

If you are thinking of buying a home, you will need to put a lot of thought into many things:

Can you afford the type of home you desire
How far are you willing to move to have "more house"
Are the schools in your potential area a factor
What type of loan can you obtain?
Will you be able to pay all of your bills, not just your home loan repayment monthly

These are very basic questions that many first time home buyers over look when they find themselves in the midst of searching for a home.

I think there is something to be said for taking a leisure drive each Sunday morning for a month or two in a row and check out areas that you have not thought about. Jump on the Maine Turnpike and travel for 30 mins north, and 30 south and see if you like what you find.

Buying your first home can be a great strain on you physically, monetary and emotionally- make sure you've made the most informed decision that you can before you sign on the dotted line at the closing. A respectable buyer’s agent should have the level of rapport with you to discuss all these matters. Be honest with yourself so that the home you buy today will be the home that you are truly happy with tomorrow.

Paul Diou

What You Can Expect from a Buyer's Agent

Paul Diou (Maine Realty) — Sun, 08 Oct 2006 21:16:59 -0500

What You Can Expect from a Buyer's Agent

Buyer's agent duties and loyalties

What should a home buyer expect from a buyer's agent?

Home buyers should be able to expect loyalty and confidentiality from a buyer's agent.
The agent should promote your best interests and provide you with all available facts that could influence your decision about making an offer for a home.
A buyer's agent will offer research materials that help you make a realistic offer.
A buyer's agent should give you the "what if" scenarios about the clauses in a contract. The agent may recommend additional contract contingencies to protect your interests.
A buyer's agent should track and handle many of the day-to-day needs required to get to closing (such as inspections, helping you find a lender, tracking the progress of the loan, working with the closing attorney or agent).

Your Contract with the Agent

An exclusive buyer agency agreement normally ties you to one agent. That means in some cases you may owe the agent a commission even if you switch to another agent or agency.

A non exclusive buyer agency lets you have multiple buyer agents without altering standard contracts, but some agents won't work in that capacity.

The contract should cover a specific time period agreeable to both parties.
The agreement should be in writing. It should outline the expectations of both the buyer and the real estate agent.
The agreement can be far-reaching or cover listings only in a specific geographical area.
The contract should address agent compensation. Buyer's agents are usually paid a portion of the seller's commission at closing, but not always. Ask how agents are paid in your area. What if you buy a for sale by owner property? Will you pay the agent's commission? If not, get it in writing now.

A buyer agency agreement is a binding contract. Be sure you understand every aspect of it before you sign.

When You Contact an Agent

Verify that the agent can work as a buyer's agent.
Ask the agent to explain the services you can expect if you make her your buyer's agent.
Ask for a blank copy of the buyer agency contract and take a day or two to study it. If some aspects of the contract concern you, ask the agent to delete or alter them.
Find out how dual agency is handled.
Don't let anyone pressure you into signing an agreement that doesn't feel right.

The Bottom Line

Don't sign a buyer agency agreement until you know the agent is the right one for your needs. Some states allow agents to initially work under an oral buyer agency agreement, but you'll usually need to put it in writing before making an offer.

An alternative is to allow the agent to work as a seller's agent until you feel comfortable signing an agreement. Do not disclose confidential information to a seller's agent.

Hiring a Buyer's Agent

Any real estate agent can sell you a home, but a good buyer's agent can offer advice on every aspect of your purchase, including details about realistic pricing and negotiation strategies.

What Can a Buyer's Agent Do

Agent's duty is to get the best possible price and terms for the buyer.
Agent must disclose all material facts about property (bad roof, plumbing problems, etc.)
Agent should disclose personal facts that indicate sellers will accept a reduced price (such as impending divorce, foreclosure, etc.)

VS.

Seller's Agents Have Different Obligations

Agent's duty is to get the price and sales terms sought by the seller.
Agent must disclose material facts.
Agent cannot disclose personal information about sellers without permission.

Benefits of Homeownership

Home owners provide stability. Owners typically stay in their home 12 years whereas renters stay no more than three years. U.S. Census American Housing Surveys.

Home ownership builds confidence. Owners possess significantly higher levels of self-confidence than renters. Rossi and Weber National Survey of Families.

Home owners create positive environments for families. Children of home owners are 59% more likely to become homeowners. Their children are also 25% more likely to graduate from high school and 116% more likely to graduate from college. Boehm & Schlottmann, University of Tennessee.

Home ownership improves neighborhoods. Owners are 28% more likely to improve their home and 10% more likely to participate in solving local problems. George Galster, “Land Economics” and DiPasquale & Glaeser, Harvard’s Joint Center for Housing Studies.

Home owners are more involved in civic affairs: including voting in the last election and knowing their elected officials. DiPasquale & Glaeser, Harvard’s Joint Center for Housing Studies.

Home ownership builds wealth. The median net worth of most modest-income owners is almost $60,000 compared to less than $10,000 for renters in the same income group. The Federal Reserve Board – Survey of Consumer Finance.

Home ownership provides tax benefits. The typical home owner that pays a $1,000 house payment will realize tax savings of about $120 each month.

The table below will help you see how much you'll spend in rent over the next 1, 5, 10, & 15 years.

Wouldn't you rather put that money into your own home and build equity in a secure investment?

If your current rent is:	1 YR	5 YRS	10 YRS	15 YRS
$500	$6,000	$30,000	$60,000	$90,000
$600	$7,200	$36,000	$72,000	$108,000
$700	$8,400	$42,000	$84,000	$126,000
$800	$9,600	$48,000	$96,000	$144,000
$900	$10,800	$54,000	$108,000	$162,000
$1,000	$12,000	$60,000	$120,000	$180,000
$1,100	$13,200	$66,000	$132,000	$198,000
$1,200	$14,400	$72,000	$144,000	$216,000
$1,300	$15,600	$78,000	$156,000	$234,000
$1,400	$16,000	$84,000	$168,000	$252,000
$1,500	$18,000	$90,000	$180,000	$270,000

You're Only 11 Steps Away From Buying a Home

Paul Diou (Maine Realty) — Sun, 08 Oct 2006 21:15:31 -0500

You're Only 11 Steps Away From Buying a Home

A Step By Step Look at Home Buying

Step 1, Get Your Finances in Order
Your credit reports are an ongoing look at how you manage your finances. You must know exactly what your credit reports say about your financial history before you apply for a mortgage, because the reports play an important role in the mortgage approval process and in determining the interest rate and other loan terms that a lender offers you.
If you haven't looked at your credit reports, you might be surprised at their contents, because errors are common.
Step 2, Get Familiar with the Mortgage Industry
Finding the right loan and lender is crucial to your home buying success. It's up to you to determine which lender is best for your needs, and it's always a good idea to have at least a bit of background about the loan process before you talk to a lender.
Step 3, Get Pre-Approved for a Mortgage
Do you know how much house you can afford? Probably not, unless you've talked with a lender. Pre-approval helps you in other ways. Consider this scenario. A home seller gets two similar offers. One is accompanied by a letter from the buyer's bank that states she is pre-approved for a mortgage in the amount of the offer. The other has no supporting documents. Which offer do you think the seller will consider first?
Step 4, Determine Your Wants and Needs
Buying a home isn't as difficult as you might think, even if you're short on funds, but the process will go a lot smoother if you get familiar with your real estate market and narrow down your wants and needs before you start looking at houses.
Step 5, Learn to Work with Real Estate Agents
Real estate agents represent buyers, sellers, or both--and in some states they can work as neutral facilitators for either party. It's essential to understand agent duties and loyalties before you make that first phone call.
Step 6, Start Searching for a Home
Your agent will give you multiple listing sheets to study. I'm sure you'll also pick up House For Sale magazines and read classified ads in your local newspapers. You'll probably spend time surfing the Internet for homes. You might even plan afternoon drives to preview neighborhoods. Those are all excellent ways to see what's available. Here are some tools to help you narrow your home buying search.
Step 7, Handle Pre-Offer Tasks
Deciding whether or not you want to buy a house involves a look at its structure and its features, but there are many other topics that are every bit as important to your purchase.
Step 8, Make an Offer
There's no one set of instructions that can cover all the differences in real estate laws and customs that exist throughout the United States, so the mechanics of making an offer and its specific contingencies depend greatly on your location. However, there are some home buying tips that can help you fine-tune your offer, no matter where you live.
Step 9, Home Inspections and Other Tests
In some states, home inspections are accomplished before the final purchase contract is signed. In other states, inspections take place after an offer is finalized. No matter when you do them, it's critical to decide which inspections and tests you want to perform.
Talk with your real estate agent or other advisor to find out when inspections should be handled and if additional types of testing are important for your specific area.
Step 10, Avoiding and Correcting Last Minute Problems
As your closing date nears, everyone involved in your real estate transaction should check its progress on a daily basis, because staying on top of things means you'll know immediately if there's a problem that must be dealt with. Here's a bit of information that focuses on a few common problems that home buyers must deal with before they close on a house.
Step 11, You're on the Way to Closing
Most of your home buying problems are behind you now and you're on your way to closing, also called settlement, the event that transfers ownership of the property to you. Just a few more things to learn, a few more things to do, and you're there
Closing Thoughts
The steps outlined in this article are a general home buying guide. You will encounter issues specific to your location and your transaction, issues that can best be explained and handled by your local real estate agent, your lender, your attorney, your closing agent, or others who are helping you complete the home buying transaction.
Never hesitate to ask questions. Ask as many questions as necessary to help you understand the entire home buying process. You are making a long term commitment and spending a major amount of money--you'll feel much better about the transaction if you stay informed and understand what's happening every step along the way.

A thank you to http://www.about.com/ for their material

How far north do I have to move to live?

Paul Diou (Maine Realty) — Sun, 08 Oct 2006 21:06:50 -0500

Many people, who live in the state of Maine, do indeed at some point ask themselves this very question.

When they begin their search for a home, they need to ask themselves if they can afford the type of home they are looking for in the greater Portland area. For many people the best and most logical choice is to look for a home that meets their financial abilities. And for more and more people this means making a choice to move away from Portland. For some this means moving south, to either Saco or Biddeford, but for many it means taking a quick ride on the Maine turnpike to see what Gray, Brunswick and even Augusta look like.

This point should not be over looked. Maine is a great state, and there is much to offer in almost every quarter of the state. Some people even decide to move up to Aroostook County in search for a home for their family.

Anyone looking to buy their first home should explore all the areas that they could conceivably live, especially if it involves the entire state.

See this Map of Maine, and how vast the choices are in our wonderful state:

Click here for a link:

For any questions on the great state of Maine, please just give me a call:

Maine, The Way life should be!

Paul Diou (Maine Realty) — Wed, 04 Oct 2006 23:52:45 -0500

Living in Maine has never been better!

see why so many people come to live here, and why so many stay for life!

Buying or selling a property in Maine? Call Maine Realty today for the Maine standard!

(207)671-6604

Starter house or a multi-unit?

Paul Diou (Maine Realty) — Wed, 04 Oct 2006 23:48:24 -0500

Many first time home buyers struggle with this question. Do I buy a starter home that isn't quite what you want, or do you buy a multi-unit and owner occupy. There is compelling arguments for both sides, and it is a question that should be thought about long and hard, especially if you are going to buy a 1-4 unit and become a professional landlord.

Many first time home buyers are not even aware that they can purchase a 1-4 family building with the same financing that is available to them for single family homes. Buying a multi family is a great way to leverage yourself into a larger purchase. Things to consider when buying a multi family include, but of course are not limited to:

Do you know enough about property management to manage the property yourself
Do you want to be a "live in landlord"
Can you stomach the months of no rent, or worse vacancies
Do you believe that the area you buy in is going to give strong rents in the future

Having a real estate agent who has experience with multi units can make a huge difference in your crucial first decision as a home buyer.

First Time Home Buyer?

Paul Diou (Maine Realty) — Wed, 04 Oct 2006 23:40:32 -0500

Are you a first time buyer?

If so, you might have many questions that you don't know how to get answered. You should take advantage of free home buyer seminars located throughout your community. Many real estate agents, and loan officers are more than happy to offer these services for free. In fact, a real estate agent or loan officer in some ways can act as a personal coach to get you on the right track to home owner ship. Check the local listings of your newspaper, free on-line calendars for such events. Many of these are put together quite well and even offer you the opportunity to obtain free credit information, door prizes and much more. So if you are just starting out do not over look these FREE and informative seminars.

Paul Diou, Maine Realty Sales Manager (207)671-6604

Why Buy Now?

Paul Diou (Maine Realty) — Wed, 04 Oct 2006 23:19:21 -0500

Why buy now?

Buying now makes more sense because the real estate market in Maine has had an obvious shift. Sellers are more willing to reduce their prices, and give seller concessions if it is crucial to unloading their property. The market has shifted so much in fact, that many buyers are starting to have many more choices than they did even six months ago. This turn in the market is natural, appropriate and good for both buyers and sellers. Why buy now? Because buying now gives the buyer more power and more leverage in what has been commonly noted as a "sellers market" for the last few years. Southern Maine is a great place to live, and the truth of the matter is that any time is a good time to buy. Right now just looks particularly good because of the current market conditions.