The Maine Association of Realtors says sales of existing homes fell nearly 3 percent in 2010 from a year earlier, but that the median sales price rose during the year. The group said Thursday that real estate agents sold 10,213 single-family homes for the year, down from 10,486 in 2009. The median sales price was […]
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Posted inBusiness, Nation / World, sj-web
Banks repossess 1 million homes in 2010
NEW YORK (AP) — The bleakest year in foreclosure crisis has only just begun. Lenders are poised to take back more homes this year than any other since the U.S. housing meltdown began in 2006. About 5 million borrowers are at least two months behind on their mortgages and more will miss payments as they […]
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Posted inBusiness, Local & State, Nation / World, sj-web
Bank of America halts foreclosure sales in 50 states
WASHINGTON (AP) — Bank of America Corp., the nation’s largest bank, said Friday it would stop sales of foreclosed homes in all 50 states as it reviews potential flaws in foreclosure documents. A week earlier, the company had said it would only stop such sales in the 23 states where foreclosures must be approved by […]
Posted inBusiness, Lewiston-Auburn, sj-web
Auburn Mall for sale
AUBURN — The Auburn Mall is up for sale. The 300,000 square foot mall on 37.5 acres is one of three enclosed malls in the entire state of Maine, according to a press release from the listing agent, The Boulos Company. The asking price is $32 million. The Auburn Mall is anchored by JCPenney and […]
Posted inLocal & State, sj-web
Recovery in danger as firms, homebuyers cut back
WASHINGTON (AP) — The economic recovery appears to be stalling as companies cut back last month on their investments in equipment and machines and Americans bought new homes at the weakest pace in decades. Overall orders for big-ticket manufactured goods increased 0.3 percent in July, the Commerce Department said Wednesday. But that was only because […]
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Meet your real estate challenges
These are challenging times for all. In the commercial real estate market, it has proven to be very challenging. We have noticed that few users are active in the market and those few who are, know that it is either a tenant’s or buyer’s market. Taking advantage of such leverage, rent concessions are frequently requested […]
Posted inLocal & State, sj-web
Maine lighthouse with million-dollar view for sale
PORTLAND, Maine (AP) — The property has a million-dollar view, but the quarters are cramped, the grounds are nothing to brag about and a loud fog horn blares every 10 seconds. For the right price, the picturesque Ram Island Ledge Lighthouse can be yours. The 72-foot conical light tower in waters a mile off the […]
Posted inBusiness
Barrett joins Millett Realty
AUBURN — Coldwell Banker Millett Realty, 155 Center St., announces that Kelly Barrett of Lewiston has joined the Millett Realty team. Barrett is an experienced Realtor who can offer sellers and buyers marketing and representation services. She is a member of the Androscoggin Valley Board of Realtors, the Maine Association of Realtors and the National […]
Posted inBusiness, sj-web
House votes to extend home-buyer credit 3 months
WASHINGTON (AP) — Homebuyers would get an extra three months to complete their purchases and qualify for a generous tax credit under a bill overwhelmingly passed by the House on Tuesday. Under current law, homebuyers who signed purchase agreements by April 30 have until Wednesday to close on the sale to qualify for tax credits […]
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Home prices rise 0.8 percent in April from March
NEW YORK (AP) — Home prices in April rose for the first time in seven months as government tax credits bolstered the housing market. But the rebound may be short-lived now that the incentives have expired. The Standard & Poor’s/Case-Shiller 20-city home price index released Tuesday posted an 0.8 percent gain. It had fallen in […]