Home For Sale – 13 York Street, York, Maine 03909

About 13 York Street, York, Maine 03909

Charming two-family property conveniently located within walking distance to restaurants, shops, and historic landmarks. Updated first floor unit with high ceilings, wood floors, built-ins, large enclosed porch and private back deck. Second floor unit with 2 bedrooms and large Living room. Excellent rental history.

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Home For Sale – 21 Summer Place, Portland, Maine 04103

About 21 Summer Place, Portland, Maine 04103

Sun filled home with views of Casco Bay. Located minutes from downtown, 295 and Back Bay. This house has been beautifully maintained with many quality updates. Birch floors and built-ins through-out. The property is surrounded by beautiful landscaping.

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Land For Sale – Reflection Pond, Rockport, Maine 04856

About Reflection Pond, Rockport, Maine 04856

Be sure to walk to the high point of this lot to see the views across to a small pond, adding to the appeal of this lightly wooded 1.39 acre parcel with a level building site at its upper end. Seller has already generated a topo map and a proposed custom home design for this specific lot. Owner financing at 1% available.

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Land For Sale – 180A Pemaquid Harbor Road, Bristol, Maine 04558

About 180A Pemaquid Harbor Road, Bristol, Maine 04558

Large waterfront lot ( 7.5 acres) with 290′ of waterfront on protected Pemaquid Harbor is an ideal setting for building your dream home or family compound. Offering includes a dock, mooring, and a driveway in place. The gently sloping waterfront terrain invites you to fish off the dock, picnic, swim or take your boat to local waterfront restaurants or to open ocean beyond. This very private property is located in well established neighborhood near Pemaquid lighthouse, public sandy beaches and restaurants.

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Home For Sale – 92 Cameron Point Road, Southport, Maine 04576

About 92 Cameron Point Road, Southport, Maine 04576

West-facing and high above Ebenecook Harbor sits this contemporary post-and-beam home designed to optimize views and provide privacy. Deepwater dock and 380 feet of waterfront on about 5 acres. Open-concept living with an impressive stone fireplace, gourmet kitchen, and radiant heat Second-floor master with separate bathroom, shower, and laundry. The third floor aerie is an office with expansive views. Outdoor terraces for entertaining or just relaxing taking in glorious sunsets.

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Home Prices Up 7% from Last Year

According to CoreLogic’s latest Home Price Indexnational home prices have appreciated by 7.0% from October 2016 to October 2017. This marks the second month in a row with a 7.0% year-over-year increase.

A lack of supply of homes for sale has led to upward pressure on home prices across the country, especially in areas where both existing and new home inventory have not kept up with buyer demand.

CoreLogic’s Chief Economist Frank Nothaft elaborated on the significance of such a large year-over-year gain,

“Single-family residential sales and prices continued to heat up in October. On a year-over-year basis, home prices grew in excess of 6 percent for four consecutive months ending in October, the longest such streak since June 2014.

This escalation in home prices reflects both the acute lack of supply and the strengthening economy.”

This is great news for homeowners who have gained over $13,000 in equity in their home over the last year! Those homeowners who had been on the fence as to whether or not to sell will be pleasantly surprised to find out that they now have an even larger profit to help cover a down payment on their dream home.

CoreLogic’s President & CEO Frank Martell had this to say,

“The acceleration in home prices is good news for both homeowners and the economy because it leads to higher home equity balances that support consumer spending and is a cushion against mortgage risk. However, for entry-level renters and first-time homebuyers, it leads to tougher affordability challenges.”

Any time the price of a home goes up there will likely be concern about the affordability of that home, but there is good news. Mortgage interest rates remain at historic lows, allowing buyers to enter the housing market and lock in a low monthly housing cost.

Rents Are Also Rising

The report went on to mention that over the same 12-month period, median rental prices for a single-family home have also risen by 4.2%.

With rents and home prices rising at the same time, first-time buyers may find the task of saving for a down payment a little daunting. Low down payment programs are available and have been a very popular option for first-time buyers. The median down payment for first-time buyers in 2017 was only 5%!

Bottom Line

If you are looking to enter the housing market, as either a buyer or a seller, meet with a local real estate professional who can explain exactly what’s going on in your neighborhood and discuss your options!

Home For Sale – 38 Berwick Street, Portland, Maine 04103

About 38 Berwick Street, Portland, Maine 04103

A hidden gem, tucked in this private oceanfront neighborhood where homes rarely come to the open market but are more often passed down through generations, this home offers views of Casco Bay and the islands. A neighborhood beach, full scale marina and the Portland trail system with access onto the Peninsula are all right out our front door. A two minute walk to the neighborhood beach where you can SUP, kayak or fish before work or after school. Bring the lifestyle you have been seeking into your everyday.

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Home For Sale – 11 Hickory Lane York, Maine 03909

About 11 Hickory Lane, York, Maine 03909

Picture perfect Contemporary situated on beautifully landscaped 2-acre lot with lovely water views and deeded access to the York River. This home is open and light and possesses a rare combination of space, amenities, and location in York. Living room with gas fireplace. Family room, Office/Den, and Great room. Optional 1st or 2nd floor master suite with full bath. In-ground saline gunite pool & hot tub. irrigation system, whole house generator, central-air and central vac. 1 hour from Boston and Portland.

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Home For Sale – 32 Crescent Lane, Wells, Maine 04090

About 32 Crescent Lane, Wells, Maine 04090

” SANDCASTLE ” is a classic Maine cottage with 75 feet of sandy waterfront at wonderful Wells Beach. A massive seaside terrace offers space for sunbathing and entertaining. 5 plus bedrooms, wrap-around porch, generous parking and two 2-bedroom apartments for rental income. It all makes for lasting Summer memories at the seashore.

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Home For Sale – 866 Princes Point Road, Yarmouth, Maine 04096

About 866 Princes Point Road, Yarmouth, Maine 04096

Casco Bay views from this Yarmouth home. One of the first on Prince’s Pt (1885), this quintessential shingle style cottage offers endless possibilities with 6 bedrooms, 3+ bathrooms, two 3 season porches & Whitman designed addition. Open living room, pellet stove, floor-ceiling windows. Chef’s kitchen: stainless appliances & granite. New 2nd floor bathroom. Third floor master en-suite with large closets, & stunning views. Eligible to join the Princes Point Association, which allows access to deep water dock.

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