SHOULD YOU LEAVE YOUR APPLIANCES WHEN SELLING?

 

In the latest episode of

Your Real Estate Solutions

with Brenda Fontaine...

 

 

Join Brenda Fontaine as she discusses whether it is a good idea

 to include appliances when selling your Maine home.

 

 Julie Poulin from Mortgage Network discusses no money down loan options.

 

DeeDee Whittemore from Phenix Title talks about the dangers of

discounted title searches and title insurance.

 

Do you have a question about real estate that you would like

to have Brenda or one of our experts answer? 

 Just e-mail us at brenda@fontaineteam.com 

or call

(207)784-3800

 to schedule a private meeting with one of our skilled agents.

FUN THINGS TO DO IN MAINE THIS SPRING!

I don't know about you, but I have spring fever! 

 

Bring on the warm weather, let's get out of the house

and go do something! 

 

Are you looking for things to do this spring? 

Check out these events in April and May...

 

Sugarloaf Reggae Festival

May 11th - 14th 

The 25th Annual Reggae Festival at Sugarloaf Mountain Resort

kicks off with Reggae Rhythm and Booms fireworks display,

continues Friday a outdoor Reggae Rave and continues on Saturday

with the headline show...John Brown's Body with Mighty Mystic.

 

Kora Shrine Circus

April 12th -13th Androscoggin Bank Colissee

April 15th - 17th  Cumberland County Civic Center

April 19th - 20th  Augusta Civic Center

The 60th Annual Kora Shrine Circus is a 2 ring circus

with elephants, a double trapeze act and a motorcycle thrill show.  

 

 

Maine Home Show

April 27th - 28th

The Maine Home Show at the Androscoggin Bank Colissee

is the place to be if you own a home or are buying a home.  

 Fontaine Team will be there, so stop by and say "hi"!

 

Touch a Truck

May 4th

 

The United Way is putting on Touch-A-Truck at

Central Maine Community College.  This FREE event features trucks

 in all shapes and sizes including fire trucks, cement mixers

 and the Fontaine moving van!

 

 

Bath Mayfair

May 4th

The Mayfair in the town of Bath offers a citywide yard sale,

 downtown scavenger hunt, Maypole dancing, sidewalk chalk art,

a farmer's market and FREE yoga!

 

 

 Northern New England Home Garden and Flower Show

May 17th - 20th

  

Held at the Fryeberg Fair Grounds, the New England Home, Garden and Flower show

 offers garden marketplaces, home and garden seminars,

fair food and celebrity guests. 

 

Maine Comic Arts Festival

May 19th

The Maine Comic Arts Festival is held at the Ocean Gateway

in Portland and features artists, writers and publishers with no dealers.

 

 

Bug Light Kite Festival

May 18th

A day of kite flying at Bug Light park with activities for the kids,

displays, a barbecue and kites for sale.  Bug Light will also be

open to the public during the event! 

 

If you are interested in moving in Southern or Central Maine,

I would love to help!   Call me at (207)784-3800

or e-mail brenda@fontaineteam.com.

EXTENSION OF MORTGAGE DEBT RELIEF - What does it mean?

 

What is the Mortgage Forgiveness Debt Relief Act

and why does it matter?

Originally enacted in 2007, the Mortgage Forgiveness Debt Relief Act is important to homeowners who are underwater on their mortgage.  There are a still a lot of "distressed" properties out there.  The owners of these properties are in a tough spot.  Even if they are current on their payments, many homeowners owe more on their mortgage than their home is worth in today's market, making it difficult to sell unless the lender who hold the mortgage agrees to a "short sale".  

In a short sale, the lender agrees to take a loss on what is owed to allow the property to sell.  The agree to forgive part of the homeowners debt.  Without the Debt Relief Act, the amount of debt forgiven is treated as income for the homeowner and they are taxed on that amount. 

The Mortgage Forgiveness Debt Relief Act allows homeowners who sell a primary residence through a short sale, or who lose a primary residence to foreclosure to avoid paying taxes on up to $2 million (or $1 million if married filing separately).   Speaking with an financial professional is always a good idea when you are dealing with complicated tax issues to decide if this option is right for you.

Click here for Ten Facts for Mortgage Debt Forgiveness

This Act was due to expire at the end of 2012, but has been extended until the end of 2013.  It may seem like a long time, but it often takes months to get a lender to agree to a short sale.  If you are interested in taking advantage of this Debt Relief Act...the time to act is now.  Most lenders will not start to negotiate a short sale until the property has been listed and has a purchase and sale in place. 

If you list today and find a potential buyer in 3 weeks, and the lender approves a short sale quickly...you could be out of that property in a couple of months.  If it takes a while to find the right buyer and negotiations with the lender on the short sale take a while...you could potentially be approaching the end of the year before you are able to close and could miss out on the debt forgiveness. 

Fontaine Family - The Real Estate Leader helped 35 families complete short sales ion 2012 alone.   We are currently working with 28 more families to gain short sale approval on their properties. 

For more information about whether a short sale is right for you,

contact us at (207)784-3800 or brenda@fontaineteam.com. 

 

BUYING AND SELLING AT THE SAME TIME

 

 

What happens if you find your dream home

and are ready to sign the contract,

but your current home has not yet sold? 

 

In the February episode of Your Real Estate Solutions,

Brenda talks about how to protect yourself in this situation.

 

Julie Poulin of Mortgage Network explains

what is an APR and tells us what some of the costs are

when obtaining a mortgage.

 

DeeDee Whittemore of Phenix Title tells a story

about at title issue after closing and how title insurance

was able to help solve the problem.

 

Dan Roux of Roux Insurance give some great tips

on how to avoid having a claim on your homeowner insurance. 

 

 

Click here to watch on YouTube

 

Like us on Facebook and

don't miss any of the great tips

our professionals in the business have to share!

 

 

Do you have a question 

about buying or selling real estate in Maine? 

We want to hear them...

you may just get your answer

on a future episode of Your Real Estate Solutions! 

 

 

FUN FACTS ABOUT MAINE REAL ESTATE 2012

 

16,260 properties

sold in Maine in 2012.

The highest number sold in Maine since 2007.

 

Information from Maine Real Estate Information Systems

of Sellers were assisted
by a Real Estate Agent.    


 
of sellers sold without assistance.       

           

50% of recent
buyers were
1st time buyers.

 

 

58%

of home buyers

were married couples.

 

18%

of home buyers were

single females.

 

 

 



of buyers purchased through
a real estate agent.

 

43% of 1st time buyers were

between the ages of 25 & 34.

29% of all buyers were

between the ages of 25 & 34.

 

 

  

of homes purchased were detached

single family homes.

 

 

of homes purchased were new construction.

99% of buyers under age 44

used the internet in their home search.

 

If you are interested in buying or selling

real estate in 2013...we can help! 

Call (207)784-3800

or e-mail us at brenda@fontaineteam.com.

 

Visit our award winning website at www.brendafontaine.com.

 

 

 

FONTAINE 2012 YEAR IN REVIEW

2013

 was a year full of fun and challenges

for the Fontaine Team.

 

We worked hard, learned a lot,

met some wonderful people, and had fun doing it!

 

Looking back, it was a great year! 

 

Please enjoy this "year in review" video...

and thanks for a great 2012! 

 

 

http://youtu.be/DYoAXQklYvc

 

We look forward to an even better 2013!

 

If you are interested in buying or selling

property in Maine during 2013,

contact us at (207)784-3800

or brenda@fontaineteam.com.

 

MAINE REAL ESTATE IN REVIEW 2012

2012 was a good year for Real Estate! 

We have started moving in a positive direction. 

 As a matter of fact, Fontaine Family - The Real Estate Leader 

sold more units in 2012 than any previous year!  

In the State of Maine 

11,593 Single Family properties were sold in 2012.

9,965 Single Family properties were sold in 2011.

The median sale price for a Single Family property was $170,000 in 2012.

In 2011 the median sale price was $165,000.

In Androscoggin County

767 Single Family properties sold in 2012.

661 Single Family properties sold in 2011.

The median sale price for a Single Family property was $133,500.

In 2011 the median sale price was $127,500.

Photo from NewEnglandMagazine.com

In Lewiston/Auburn

394 Single Family properties sold in 2012.

341 Single Family properties sold in 2011.

The median sale price for a Single Family property was $125,000.

In 2011 the median sale price was $115,000.

More properties have sold...great new for sellers! 

Interest rates and prices are still low...great news for buyers!  

So what are you waiting for? 2013 is a great year to make a move!  

Call us today to get started!

207-784-3800 

Would you like to know statistics about other areas in Maine?  Just let us know!

brenda@fontaineteam.com

Visit us at www.brendafontaine.com!
 

  

WHAT DOES YOUR CREDIT SCORE NEED TO BE TO GET A MORTGAGE?

 

What does your credit score need to be

to get a mortgage?

 

Do you need to purchase title insurance

if you have a title search?

 

Is it a good idea for the buyers to move in

before closing?

 

How can snow damage the roof of your home?

 

 

Find out the answers to these questions and more

in our latest episode of...

Your Real Estate Solutions with Brenda Fontaine!  

 

Just click on the photo above to start the video or go to http://youtu.be/1Tzw7KxBM54.

 

Do you have a topic you would like for us to discuss

on a future episode?  We would love to hear from you. 

Just send your suggestions to brenda@fontaineteam.com!

 

Top 10 List for Selling Your Home In Winter

Well, it may not officially be winter, but there is snow in the forecast and it feels like winter here in Maine!

 

Photo by Porschlelinn

Even though everyone tends to assume that winter is not a good time to sell...

it can actually be a great time to market your home.

Buyers who brave the snow and cold to look in the winter time

are serious about buying and more likely to make an offer. 

There is often less inventory on the market during the winter

so you also have less competition. 

Are you worried about a showing interrupting your holiday plans? 

Don't worry...you can always restrict showings during your family events. 

Here is our Top 10 List for selling you home in the winter...

     1.  Easy Entry

Make sure the driveway and walkway are shoveled,

salted and free of snow and ice to provide easy entry for all showings. 

    2.  Curb Appeal

Make sure the exterior lights are on and the house number is easily visible

 for the evening showings.  The last thing you want is a potential buyer to

be frustrated by not being able to find your home.

 

     3.  No Shoes

Minimize the chances of buyers tracking up your freshly cleaned home

by providing cheap slippers or disposable booties at the door

as well as a place for them to take off the snowy shoes or boots. 

They will be impressed by your thoughtfulness and you will save your floors!

Photo from The Country Chic Cottage

     4.  Warm and Cozy

You may have turned down your thermostat to save on heating costs, but

turning it up to make potential buyers comfortable is worth the few dollars it may cost. 

Turning on gas fireplaces, or having a comfy throw across a chair or couch

also add to the warm and cozy feel of a home. 

     5.  Set the Mood

Just like on a first date, you are trying to impress your potential buyers. 

Soft background music and flame less candles can set a relaxed, comfortable mood.

     6.  Light it Up

During the daytime hours, open the window treatments to let in the natural daylight. 

For evening showings, make sure to turn on plenty of lights.  Buyers like bright spaces.

     7.  Take Advantage of the Season

Decorating for the season instead of with personal items

can make your house feel more homey for your potential buyers...but don't go overboard. 

Clutter is bad...so use moderation and basic, tasteful decorations.

 

View this Christmas decoraing ideas on our Pinterest

 

     8.  Bake Something

Baking fresh bread, an apple pie or chocolate chip cookies (my favorite)

before your showing leave the house smelling great. The smell of fresh baked goods

just makes you feel happy...happy shoppers buy houses!

     9.  Keep it Clean

In the winter, the shoes and coats tend to pile up at the door

and wrapping paper and gifts get stuffed into closets. 

Cluttered areas may lead buyers to believe there is not enough storage

so keep it clean for showings.

     10.  Price it Right

All the staging and cleaning in the world won't sell your house

if it is priced to high, so listen to your real estate professional

and price it right from the start.

If you follow these simple tips, you stand a great chance of selling your home in the winter!  If you are ready to sell this winter, call us at (207)784-3800 or e-mail brenda@fontaineteam.com.

 

WHAT ABOUT DAYS ON THE MARKET?

If you are considering selling your property

or if you have your property on the market...

 you should know about Days on the Market.

Do you know the average DOM (days on market) in your area? 

The amount of time it takes property to sell varies from area to area so the amount of time it usually takes to sell in Androscoggin County is different from the amount of time it usually take to sell in Oxford County.   In 2011 the average time a residential property spent on the market before it sold in Androscoggin County was 127 days.  In Oxford County the average time was 196 days.  That is a 2 month difference!


Do you know the average DOM in your area for the Real Estate Agent you are considering or who has your property listed?  

There are a lot of factors that go into the amount of time a home spends on the market. The condition of the property, staging, location and pricing are a few factors that could make a difference.   Obviously you can't change the location of your property, but a good Real Estate agent will advise you of what you can do to get your property sold in the least amount of time.  

Why is selling quickly so important?

Fresh inventory sells for Top Dollar...stale inventory gets discounted.  The longer a property sits on the market, the better the chances of having to reduce the price to get an offer.  If buyers see that a property has been on the market longer than other properties, they start to think something must be wrong with it.  After all, if is was such a good deal, someone else would have purchased it.   

Do you want to work with an agent who has a history of getting property sold in less time

 or who has a history of taking longer to sell a property? 

If you are interested in knowing more about the average Days on Market in your area,

call us at (207)784-3800 or click the button below to e-mail us!

SHORT SALES - WHAT YOU SHOULD KNOW AS A SELLER

In today's Real Estate market,

Short Sales have become almost common place...

but most sellers are not sure what a Short Sale actually is

or how it could affect them 

A short sale is when the property owner owes more on their mortgage (or mortgages)

than what the property is worth in the current market. 

The lender who holds the mortgage had to agree to allow the property to be sold

for less than is owed on the mortgage. 

As a seller, what do you need to know

if you are considering trying to sell your home as a short sale? 

• Avoid Foreclosure - A short sale is a great way to avoid foreclosure.  Today more and more homeowners are facing foreclosure...you are not alone. 

• Patience - A short sale, regardless of the name, is not a quick process.   A lien holder could take months to approve or deny a short sale after you receive an offer.  Most lien holders will not even consider a short sale until you have an offer to send them.  If you are not willing to wait...a short sale is not right for you.

•  Experience - Choosing a Real Estate Agent who is experienced in short sales is key to a successful short sale.  The agent you choose to represent you should know what is needed for a short sale and also how to communicate with the lender.   Let your agent do the work.

•  Hardship -   In order to qualify for a short sale, you must show a financial hardship (such as a job loss, income reduction, divorce, illness etc..).  Most lenders require a hardship letter that explains your situation as well as copies of your tax returns, bank statements and pay stubs as well as additional documentation in order to make a decision on a short sale. 

•  Credit Score - A short sale can, and probably will, affect your credit score.  How much it will affect your score depends on how the lien holder reports to the credit bureaus.  It is usually less of an impact to your credit than a foreclosure.

•  Promissory Note - The lien holder could ask you, as the seller, to sign a promissory note for the deficiency between the sale price and what you owe on your mortgage if you have liquid assets.

•  Tax Implications - You, as a seller could be responsible for paying taxes on the amount of debt that is forgiven, however under the Mortgage Forgiveness Debt Relief Act of 2007, the debt forgiven on our primary residence may be excluded. 

Even though it may sound scary, a short sale is still a good option for many homeowners

 who can't keep up with their mortgage payments and can't sell their home for enough money to cover their current mortgage.  Is a short sale right for you? 

If you have questions about whether a short sale is right for you, please call us at (207)784-3800 or e-mail us by clicking below

 http://www.brendafontaine.com/buyer-short-sales.asp