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Changing Market in Central Maine

By
Real Estate Agent with Coldwell Banker Plourde Real Estate

Change, Change, every where in central Maine the market is changing.  It is not anything like what you see on the national media, but here are a few ways to invest wisely in your next home. 

1. Stay in touch with the market and your Realtor.  It does sound like common sense, but not always done correctly.  Tell your agent you want a home in a desirable location, so know the neighborhoods.   The best neighborhoods hold value, turn over quickly, and remain popular - even in a down market.  My number one rule with a buyer - Location & Communication!

2. Purchase property that you can afford.  Do not over spend on a property with the mind set that if you can't afford it next year, it can be sold at a profit.  The soft market will last another 16 -24 months.  A smart investment at this time is a home you can hold onto for 5 years to build equity.

3. Make sure your credit is in good condition - and do not make any additional large purchase during the purchase or sale that will change your score.

4. Test the market by being a strong negotiator - and make sure your agent is known to be one too.  Take your time and plan to negotiate by making several offers.  Always ask for a better price, better terms, and offer a lower down payment for financing.

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