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Mooers Realty Blog

Latest Real Estate News, Local Community Area Events From Mooers Realty.

Why Buy A House In Maine? | The Value Of Home Ownership.

Why Buy A House In Maine? | The Value Of Home Ownership.
Homes for sale in Maine. Nothing is like the joys of owning a property.
 
Especially if you have children and want them to grow up in their own home. Moving around and not being able to paint the walls, make changes to your surroundings limits life. No fun when you are leasing a place and not working toward retiring the house mortgage for free and clear. Home buying is an investment.
 
Home ownership is not something everyone can achieve though because of credit problems, no job, poor debt ratios. More on financing a home to get out of the rent rut. Tossing all that cash in the trash. People that do that can barely stand it and renting too long is like a hang over that won't go away.museum bear in maine photo
 
The bare facts, the advantages of home ownership, there are tax reasons to buying a house in Maine.
 
You can deduct the mortgage interest expense, the property taxes and in some cases, other costs living in the house. A home business combination has lots of tax benefits.Talk to a bean counter on what is best for you in the math exercise of doing your yearly income tax. Get the personal tax deduction advise from the expert trained in which spaces to use on those IRS forms.
 
More and more folks buying a house are telecommuting to work online from Maine. Live in low cost Maine, without the crime and traffic but employment happening somewhere else thanks to the strong Internet connection we have in Vacationland. Get more for less with lower priced homes in Maine everywhere you look.
 
There are costs associated with home ownership. You or someone has to mow that lawn, paint the trim, replace housing items that wear out and were not designed to last forever. The house you buy is not the last one you will be in too. Like cars, there are starter houses. The Mr Fix you buy to flip to work your way up to a house more to your liking. That fits the ever changing needs in home ownership.
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Maine Real Estate, How's The Market?

Maine Real Estate, How's The Market?

Hard to not go anywhere in a small Maine town without the question "how's the real estate market ?" asked.

It is not just being friendly or making conversation. Folks want to know how is the real estate market today? Not last year, but maybe can you predict where this one is heading is a follow up inquiry. millararena1

Maine is one big vast state so the answer to the question how's the real estate market can be misleading.

How do the local real estate market listings and sales numbers line up?

Hard like most news to sum up in a short, convenience sound bite or video clip with an industry professional. Why so hard? Because the state is the sum of it's parts and one answer to use sizing it up does not work for each of the same sixteen counties in Maine.

So like weather forecasts, one size does not fit all when talking a state as big and diverse economically as Maine. So survey says ... (ding ding ding) more than one pat answer.

Here is the latest real estate press release for Maine property listings and sales as a whole and county by county. The study of the numbers prepared and just reported by the Maine Association Of REALTORS.

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Large Homes For Sale In Maine.

Large Homes For Sale In Maine.
Large homes for sale in Maine.
 
Sometimes bigger is better. Are you needing more space, are you not a candidate for a tiny home? The families were larger years ago when many of the large homes for sale in Maine got hammer and nailed into place. houltonmainehouses
 
More places with the plate and silverware around the table set at meal time in a large home in Maine.
 
Especially on a Maine farm home where the kitchen is so so big to provide the needed elbow room at meal time. When the family meal is always home cooked, never involved micro wave frozen bags or steamed pouches. Always grown on your own land and often eaten quickly. Because farming means get back to the fields to plant or harvest the crop. Or to repair pasture fencing working around not the best of weather. And farm families were very large, needed a home matched to hold them all.
 
So back to the large homes for sale in Maine. If family size is down to 1.6 per household for kid count, why would large homes in Maine still have an audience today? Because of many factors. Divorce causes a daughter with grandchildren to make the call. To move back in and share some of the space under the same roof line.
 
Or the property owner of the large home wants to operate a business in the finished cellar, or to convert the shed into a home office. The elderly grand parents who can not live on their own and need independence.They are going to be on board into the golden years.
 
The large homes for sale category of real estate is tapped for many types of living arrangement applications. When elderly loved ones who don't maneuver staircases so well or are getting forgetful or feeble are live and local. The house you share with them better have a first floor bedroom or two. Extra bath with handicap access on the same first floor ground level. A big dining room too if you share meals as one big multi generational family.
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Should You Buy The Property Next Door?

Should You Buy The Property Next Door?

Whatever you border, should you buy the property next door?

The house, vacant lot, whatever type of real estate butts up to your border, should you purchase it before someone else does? Lots of ways to look at the situation when your neighboring real estate comes up for sale. Is available for purchase from you or someone else. The timing could be perfect or the worst for the opportunity to add to whatever you now own. It just may not be in the cards to consider buying what is next door to what you already own.lakedusk

So if you can not purchase today, if the option to buy is presented, take the neighboring property owner up on the chance to make it your own down the road.

A first option to purchase is not the seller next door asks you if you want to buy or not and moves on with you now out of the picture if you pass up the chance to purchase. The first option means other buyers can wheel and deal and make offers all they want. But before the seller lets the property go to a new buyer, he or she will come back to you to give you one more chance to say yes or no. You could end up getting the property cheaper, with better terms than the figure first quoted.

Get that first option to buy real estate agreement in writing and expect anything verbally promised is gone with the wind when the neighboring property owner dies before selling. The heirs of the estate often care little about previous conversations and promises made between you and your neighbor. It's show me the money and settle the estate, pay the bills and split up any profit time for those left behind that you have no connection with personally.

If the property next door is priced so high that it is too rich for your blood, others may feel the same way too and pass up the option to buy. If the property is appraised by a bank lending money on the collateral, there is no way anyone is going to pay a King's ransom to make it their own. The appraiser keeps a lid on the fair market value. And makes sure value is there before the real estate closing ever happens when a bloated price property is being exchanged. 

If you had a small lot, below the square footage of what is typical for the neighborhood, buying more land can increase the value of what you do own. If raw land is what is up for sale, if the purchase does not involve renting out a home or the added expense of tearing down a structure.

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Maine Real Estate Buyers And Sellers Don't Have Time To Waste.

Maine Real Estate Buyers And Sellers Don't Have Time To Waste.

Save them time, the Maine real estate buyers and sellers.

Time is money and in short supply for over-booked property owners and purchasers. The by far best way to save anyone thinking of buying or selling is by use of video. The connection is instant. The delivery of information using the eyes and ears is hooked up like a vital IV. Video channels to be effective needed to be treated like a garden though. Tilled, smoothed, planted, fed, cultivated, harvest (repeat).mainechevy maine photo

Society as a whole is not so crank on trusting strangers.

The best way to stop being a stranger is to start helping others.

To be a helper it starts with a quick story of who you are as a Maine real estate professional excited about living in Vacationland. To establish a relationship as the local expert, your neighborhood partner who plans to stay your real estate broker for life. Beyond one property listing transaction.

Once the buyer or seller of Maine real estate is convinced "okay, you can be my agent or broker" the treatment changes from who I am to here is what you need to know. The same questions come up from anyone new to the area. So a local information 101 session has to start quickly. Because this buyer and seller are very busy, it is often late at night and they want to start the process before lights out. For the short wait for Mr. Sandman once the head is in the bed. And hopefully good dreams, not real estate nightmares. Buying or selling real estate in Maine should be a positive experience. It can be fun if the red flags are seen. And the potholes ahead are avoided based on real estate experience.

This video for FAQ on Maine is always showing up on Internet searches.

Idling, waiting like a tax cab driver to hit the accelerator. To push the pedal to the metal to speed to deliver the information the buyer or seller needs right now. Not tomorrow morning on a 9-5 schedule or days from now as everything is put on hold waiting for information.

It helps if upfront the website portal for real estate in Maine is set up for easy navigation, nothing to make the user feel dumb. You don't have to have a black belt in website maneuvering to use our Maine real estate website. Our local Northern Maine agency also maintains more than one real estate website for properties. Why? Because everyone drives a different kind of car for a reason. The approach is a little different, how we stock the real estate listing and local information shelves is a tad varied.

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