Closings, which usually take place a month or two after a contract is signed, dropped 3.4 percent to a 5.36 million annual rate, the National Association of Realtors reported Monday. Prices increased compared with October 2014 as the number of dwellings on the market decreased. A limited supply of available properties, particularly more affordable homes, […]
real estate
Posted inBusiness
Lewiston, Auburn ranked in top 10 for affordable housing in Maine
Waterville was named the most affordable housing market in Maine and Kennebunk the most expensive in a report issued Wednesday by Coldwell Banker Real Estate LLC. The group released its 2015 Home Listing Report ranking the affordability of 21 real estate markets in Maine. For a four-bedroom, two-bathroom house, the average listing price was $133,481 in Waterville […]
advertisement
Posted inBusiness, sj-web
Maine real estate sales rise in May
SOUTH PORTLAND — The Maine Association of Realtors says home values and sales volume increased steadily in May. The association says 1,335 single-family existing homes changed hands during the month. That is an increase of 2.53 percent. The median sale price for the homes was $185,000, which is an increase of 8.86 percent. The trends […]
Posted inBusiness, sj-web
Flood insurance rates to rise
PORTLAND — Here’s something you don’t want to think about but should: flooding. That’s because more than 2,300 homeowners and 540 businesses in Maine are facing annual increases in currently below-market flood insurance rates. Federal law changes that took effect April 1 will deliver rate increases to a subset of Maine flood insurance policyholders — […]
Posted inLewiston-Auburn
Lewiston homeowners could become landowners — if they can afford it
LEWISTON — On one hand, Norm Meservier was able to get a nice house for a steal back in 1991: $18,000, plus $2,000 to fix the roof. “For $20,000, I got a house — not an apartment — clean and fixed up,” he said. “I don’t have upstairs neighbors. I don’t have downstairs neighbors. It’s […]
Posted inBusiness, sj-web
Maine home sales rise in September
PORTLAND — Sales of existing Maine homes rose 6.58 percent last month. The Portland Press Herald reports the median sales price in the state was $175,000 for September. That was a 1.16 percent increase from a year ago. September saw 1,393 homes sold. Maine home sales for July, August and September climbed 3.85 percent from […]
Posted inSpecials
Real estate investing for beginners
On the heels of a recession that saw home values drop, many would-be investors have shied away from buying investment properties. But real estate has historically remained a sound investment, boasting a long-term appreciation rate that makes it a worthwhile investment for those who can withstand temporary setbacks in housing prices and hold on to […]
Posted inBusiness, sj-web
Maine home prices rise 10.6 percent in July
WASHINGTON — Maine home prices rose 10.6 percent in July. That’s the second biggest gain in real estate prices in the country. Nationally, home prices rose in July but at a slower rate compared with earlier this year. The moderating price increases could help support sales. Real estate data provider CoreLogic said Tuesday that prices […]
Posted inBusiness, sj-web
Maine home sales increase as prices dip
PORTLAND (AP) — The Maine Association of Realtors says Maine single-family home sales increased by 7.25 percent in May. The association says 1,302 homes changed hands in May. Realtors report that median sales price dipped 4.79 percent to $169,950 in the past 12 months. Maine’s home sales differ from nationwide trends. The nationwide median sales […]
Posted inLocal & State
New buyers fuel more Maine home sales, but median prices dip
SOUTH PORTLAND — Home sales in Maine rose 8.3 percent in March, continuing an increase in volume and beating national trends, while the median sale price dropped for the second month in a row, compared with last year, to $169,000. Angelia Levesque, a Bangor real estate broker and president of the Maine Association of Realtors, […]