Home Sales and Values Up in June

July 22nd, 2016

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Portland, ME – Home values and the pace of home sales were up year on year in Maine last month according to the latest report from Maine Listings.

Realtors across the state reported 1,960 existing single family home sales in the month of June up by 9.62% over the same month last year. The median sales price (MSP) for those properties was also up by 5.49% to stand at $198,000. The MSP indicates that half of the homes were sold for more and half for less.

The National Association of Realtors (NAR) today announced a 3.1% increase in sales nationwide in June; the national MSP of $249,800 represents a 5.0 price jump over the past 12 months. Regionally, the Northeast experienced a 5.6 increase in sales and a 1.4 percent rise in prices, to equal a regional MSP of $284,800.

Click here for county-by-county statistics

Newly For Sale: Scarborough Colonial unlikely to be available for long!

June 10th, 2016

Scarborough_Maine_Real Estate_Tru Brit Realty Group_Keller Williams Realty59

Portland ME: Great opportunity to own a pristine 4 bedroom Colonial style home in a private yet convenient Scarborough, Maine location.

+3,500sq ft of quality living space inclusive of kitchen with granite counters & island, living room with gas fireplace & both formal/informal dining with hardwoods throughout. Master bedroom with full bath & walk-in closet, basement media/games room & finished 3rd floor. Front porch, rear deck & patio surrounded by pretty yard. Within easy reach of schools, shopping, major road access, Jetport & Amtrak & downtown Portland.

Call today on 207-553-2662 to book a private showing. To take a virtual tour click here

Re: Don’t Miss This! Great Rates for First Time Home Buyers in June

June 2nd, 2016

Portland Me: Calling first-time homebuyers, vets, active duty military and those returning to the market, don’t miss these unbelievable mortgage rates via Maine State Housing offered to coincide with National Homeownership Month in June! Who do you know who could take advantage of this tremendous opportunity?
MHSA
Get a great Realtor to go with your great rate call 207-553-2662 today.

Latest home sales figures fuel optimism for Spring market

April 22nd, 2016

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Portland, ME – Latest figures for home sales indicate a rebound in the market for March over February fueling predictions for a buoyant spring selling season.

Sales across the country gave cause for optimism after an improving performance over last month’s statistics.

Realtors across Maine reported 1089 sales of existing single family homes in March an increase of 14.63% over the same month last year according to Maine Listings.

Home values were also on the rise with a 7.35% increase in the median sale price (MSP) to $182,500. The MSP indicates that half of homes were sold for more and half sold for less.

Nationally sales were up by 2.6% and regionally in the North East 7.7% with the median sales price up 5.8 % to $224,300 and 5.8% to $254,100 respectively.

“Closings came back in force last month as a greater number of buyers overcame depressed inventory levels and steady price growth to close on a home,” says National Association of Realtors, Chief Economist Lawrence Yun.

Click here for more information for county-by-county numbers for Maine.

Deciding whether to sell or not? Call us today to see how much your property is worth in today’s market on 207-553-2662.

Year-on-Year Home Sales Numbers May Mask Current Trends

March 22nd, 2016

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Portland, ME – Maine home sales in February outpaced the numbers for the same month last year by 21.72%, although the median sales price (MSP) fell back by -4.42% to stand at $160,000 year-on-year. The figures were released by Maine Listings this week.

On the nation scene the National Association of Realtors (NAR) reported an increase in both home sales and prices across the country with the northeast region also seeing rising sales.

Commentators have voiced concern, however, about a down turn in sales nationwide when comparing month-on-month statistics citing a lack of inventory and resultant upward pressure on pricing creating affordability issues for some buyers.

“Sales took a considerable step back in most of the country last month, and especially in the Northeast and Midwest,” according to Lawrence Yun, NAR’s chief economist. “The main issue continues to be a supply and affordability problem. Finding the right property at an affordable price is burdening many potential buyers.” 

Click here for the local trends in Maine.

Call us today on 207-553-2662 to learn more about how to win in today’s market whether you are buying or selling!

Maine Home Sales Start New Year On A High!

February 24th, 2016

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Portland, ME – Home sales in Maine started the new year on a high with brokers across the state reporting a 13.5% rise in sales of existing single family homes when compared to January 2015.
The latest figures come via Maine Listings which also reveal a year-on-year increase in median sales price (MSP) up by 9.69% to $175,500. The MSP indicates half of the homes were sold for more and half for less.
To view figures for the county where you live click here.                                                                                                                                                                                                                              Nationally there was an 11.2% increase in sales nationwide last month with a national MSP rise of 8.3% to $215,000. Regionally, the Northeast experienced an impressive 20.6 percent jump in sales while the regional MSP was up 0.9% to $247,500.

Give us a call today on 207-553-2662 to find out why now might be your best bet to buy or sell a property.

Maine’s Real Estate Market Healthy in 2015

January 23rd, 2016

Portland_Maine_Homes For Sale_Tru Brit Realty Group_Keller Williams RealtyPortland, Me – It was a healthy year for Maine’s real estate market in 2015 according to the year-end report from Maine Listings.

Newly released statistics reveal sales of existing single family homes was up 10.97% over sales in 2014 with the median sales price (MSP) for those properties up also. The MSP for the 15,672 homes sold in the state last year was $180,500 which represents a 3.14% increase on the year previous. The MSP indicates that half of the homes were sold for more and half sold for less.

For more information and Maine’s county-by-county statistics click here.

If you are thinking of buying or selling in 2016 contact us to find out more about winning in today’s market whether listing or purchasing a home.

Tel: 207-553-1377

Email: trubritrealty@gmail.com

TRU BRITS CELEBRATE ANOTHER SUCCESSFUL YEAR

January 20th, 2016

TheTruBritRealtyGroupShot

PORTLAND, ME – The Tru Brit Realty Group of Saxby, Meek & Coward at Keller Williams Realty celebrated another successful year achieving real estate sales of approaching $20 million in 2015.

Keller Williams, Portland Market Center Team Leader, Brad Knowles said: “As one of the top teams at Keller Williams Realty they bring the highest level of professionalism and experience to every transaction and we are proud to be in business with them.

“Anyone would be in good hands working with the Tru Brits!”

The group was involved in helping almost 90 clients purchase and sell property last year with a sales volume ranked in the agency’s prestigious Quadruple Gold Award winning bracket.

The Tru Brits assist buyers, sellers and investor clients throughout the Greater Portland area and can be contacted on 207-553-1377 or via www.TruBritRealty.com.

Local Real Estate Sales Fly In The Face of National Trend

December 23rd, 2015

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Portland, Me – Real estate sales bucked the national turned last month with a double digit increase year on year for November in Maine.

Statistics released by the Maine Association of Realtors indicate a 22.68 percent jump in sales of existing single family homes in November compared to one year ago. Sales prices also continued their upward trend with the median sales price (MSP) for the state rising 4.35% to $180,000 compared to November 2014 – The MSP indicates that half of the homes were sold for more and half sold for less.

The National Association of Realtors reported a 4.6% drop in existing single-family home sales nationwide, while the national MSP increased 6.6% to $221,600 in November. On the regional front, sales in the Northeast were up 1.5% from the same month last year, and the regional MSP of $254,800 represents a 3.2% rise.

For the local picture, county by county, click here and to find out why this winter is still a good time to buy or sell real estate call us today on 207-553-2662.

Clock is ticking down on rise in interest rates – What it means for real estate

December 11th, 2015

Interest Rates_Tru Brit Realty Group_Keller Williams RealtyPortland, ME: The clock is ticking down on a likely hike in interest rates by the Feds, the first such increase since June 2006 and one which will surely trigger a rise in mortgage interest rates.

The commentary below is provided by local lender Casey Hamlin, Branch Manager/Loan Officer at Northpoint Mortgage:

“The state of the current mortgage market rates are between 3.875% and 4.375% depending upon program and buyer qualifications.  It is widely believed that the Federal Reserve will increase interest rates after their next meeting on December 16th.  If that happens then investors anticipate that mortgage rates will increase.  Just a .25% increase in interest rates can result in $36/month more in payment (based off a $250K loan amount).  That is over $13,000 on a 30 year home loan.  There are other factors that influence mortgage rates such as how the US economy is doing and monetary policy abroad.

 

“Based on the National Association of Realtors Affordability Index for September of 2015 (most recent available) the index is at 162.4 for the Northeast.  The housing affordability index measures whether or not a typical family earns enough income to qualify for a mortgage loan on a typical home at the regional level based on the most recent price and income data.  A value of 100 means that a family with the median income has exactly enough income to qualify for a mortgage on a median priced home.  An index above 100 signifies that a family earning the median income has more than enough income to qualify for a median priced home.  This time last year it was at 165.6 which demonstrates that homes are slightly less affordable than they were in September of 2014.  In 2012 the index was at 193.3.  What this tells us is that homes are still very affordable in relation to our average income and opportunity is still available, but the window to capitalize on this opportunity is closing.”

Change in the market is customary and an interest rate rise represents yet a market adjustment. The impact is predicted to be a slowing in property appreciation and some decline in buyer activity. Certainly the sky isn’t falling and even with a rise, rates are still historically low. However, this may not be the first time we see rates go up and progressive rate increases are not out of the question into the new year.

If you are thinking of buying a home call us today to learn more about our VIP Buyer Program on 207-553-2662 or email trubritrealty@gmail.com

To learn more about getting pre-approved for a mortgage contact Casey Hamlin at Team Hamlin, Northpoint Mortgage, on 207-749-6502 or email chamlin@trynorthpoint.com