BUYING MULTI FAMILY HOMES IN SOUTHERN MAINE: 5 REASONS NOT TO WAIT
Provided by Sam Armentrout, a Southern Maine Real Estate Agent at CHR Realty/ GMAC Real Estate
5.) SAVVY INVESTORS KNOW
Sagadahoc, consisting of Bath,Topsham and coastal Maine has experienced a 17% decrease in the number of SINGLE FAMILY homes sold in the last year; multi family statistics for the same sample area appear to be holding steady. Investment property is being bought and sold; the market has held its ground during the single family home crunch.
4.)RATES ARE LOW
Mortgage rates are excellent. A standard, 30 year, fixed rate mortgage is 6.26%. 15 year fixed rates are at 5.92%, while 1 year adjustable arms areas low as 5.85% (12/04/2007)
3.)A GROWING NEED
Single family home buyers are dragging their feet, waiting for news about the cooling housing market. Capitalize on the present and future situation by filling the need for rental property.
2.) DON'T WAIT, DO IT NOW
Home prices are down and may go lower. Keep in mind that each day spent watching market statistics is a day someone else isn't paying off your mortgage (retirement plan) though.
Cooling and booming are expected, dare i say, important in a dynamic economy. As the housing market makes its decadic cycle many short term investors are selling. Although it is certain that the market will recover from its recession some investors don't want to wait for the next up swing, leaving a fresh batch of buyers tons to choose from.
For more on Southern Maine Real Estate contact Sam Armentrout, a Southern Maine Real Estate Agent at CHR Realty/ GMAC Real Estate
Office: (207)443-3333 x 214, Cell: (207)837-2492 or firstname.lastname@example.org
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