Yes, contracts had to be signed by April 30th for the Federal Tax credit, but Maine still has Gift of Green money available. The Maine State Housing Authority is offering eligible borrowers who use a MaineHousing mortgage: A grant of $2500 to help with the cash needed for closing, such as any required down payment, closing costs, and prepaids. A coupon worth up to $500 for a 2-part home energy audit. The Gift of Green really is a gift - it will not be added to the loan amount and does not need to be paid … (0 comments)
house values: Maine Home Sales Rise 14% in February, Prices Stable
- 03/24/10 07:42 AM
The real estate market in Maine continued its slow recovery last month with 494 units sold, compared with 433 sold in February 2009, an increase of 14%. The median price for homes sold in February was $158,000, in line with numbers reported in February 2009. This compares with 555 units sold in February 2008 and 698 in February 2007. The median sold price in February 2007 was $193,950, 18.5% higher than February 2010. These figures are courtesy of the Maine Real Estate Information System, Inc. According to The National Association of Realtors, existing home sales nationwide rose 4.3 percent in February … (0 comments)
house values: Pending Home Sales Dip in January in Northeast and Nationwide
- 03/08/10 01:11 PM
The National Association of REALTOR's (NAR) Pending Home Sales Index, a forward-looking indicator based on contracts signed in January, fell 7.6 percent to 90.4 from an upwardly revised 97.8 in December, but remains 12.3 percent higher than January 2009 when it was 80.5. The index was originated in 2001 and a score of 100 represents the market at that time. The index in the Northeast fell 8.7 percent to 71.3 in January but is 20.5 percent higher than January 2009. NAR Chief Economist Lawrence Yun blames the weather for January's (and February's expected poor results) on the unusual winter of storms, which have missed … (2 comments)
house values: Maine Home Sales Up 18.6% in January, Median Price Up 5.1%
- 02/27/10 08:55 AM
The numbers are in for January, 484 existing single family homes were sold by real estate agents, which compares to 408 in January 2009, a gain of 18.63%. The median price of these homes climbed to $160,000 vs. $152,250 in January 2009, a gain of 5.09%. Nationally the increase is only 8.6% for the same period and a slight decrease in median sales price to 163,600. In the Northeast, sales increased 22.4% and the median price reached $245,300, a gain of 8.8 percent. Maine is doing better than the nation, but not as well as the rest of the Northeast. In … (0 comments)
house values: Zillow’s Quarterly Survey Shows Homeowner’s Perceptions Are Catching Up to Reality
- 02/19/10 02:35 AM
Twenty percent of homeowners believed their home increased in value, although Zillow reports that 28 percent actually did. Half of homeowners believe their own homes lost value during 2009, while 30 percent believed their homes' values stayed the same. In reality, according to Zillow, 65 percent of homes lost value during the year, and values remained the same for 7 percent. Zillow's "Misperception Index" nationally comes in a -2 (0 shows when perceptions are in line with reality). However the Misperception in New England comes in at 14 percent. Unfortunately Zillow does not measure the Portland, Maine market yet. However, homeowners … (0 comments)
The Tax Credit for First Time Buyers is Gone, Right?
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