Latest Posts

Maine Things To Do In Fall 2018 From A - Z

Are you looking for something to do this fall in Maine?

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Scam Alert!

Beware of this Scam Targeting Real Estate Deals...
It could happen to you without you noticing!

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Join us at the B2B Trade Show

B2B Trade Show is Thursday!

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Fall Home Maintenance Checklist

Fall Home Maintenance Checklist:

Fall is the time to take care of items that can keep you safe and save you money this fall and winter.

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July Market Update

July was a busy month in the Maine Real Estate market!  

According to Maine Listings, 5304 properties sold from May 1st - July 31st in the state of Maine with a median sale price of $225,000.  That is a 9.76% increase in the median sold price during the same timeframe in 2017!  While not all markets in Maine are experiencing an increase in the number of sales and increased sale prices, the state overall is!  It is a great time to sell with plenty of gorgeous Maine weather left this year!  

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Have You Outgrown Your Starter Home?

Have You Outgrown Your Starter Home?

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Fontaine History and Timeline

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#1 Reason To Put Your House On The Market Today!

The #1 Reason to Put Your House on The Market TODAY!

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Maine Home Prices Are On The Rise!

Maine Home Prices Are Up From Last Year!

According to the Maine Association of Realtors, Maine home prices statewide are up 10.69% for the quarter from April 1st - June 30th over the same time frame in 2017.  The median sale price for the quarter this year was $218,000 up from $197,400 in 2017. Not only are prices up, but the number of properties sold us also up by 2.7%.  

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Teri Campbell

(207)576-4180 ° teri@fontaineteam.com

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Fontaine Testimonials

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Fontaine Helps You Sell Quickly

The Fontaine Unique Team System

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6 Mistakes to Avoid When Buying a Home

6 Mistakes To Avoid When Buying A Home

Anytime you are buying a home, it can be stressful.  
 In today's market where it is shifting toward a seller's market, it is especially important to be prepared
 and to avoid missteps that could cost you a home that you have fallen in love with.
 Here are our top 6 Mistakes To Avoid When Buying A Home! 

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Renting vs. Buying


Buy vs. Rent Comparison

The chart below shows a cost comparison for a renter and a homeowner over a 7 year period.

  • The renter starts out paying $800 per month with annual increases of 5%. 
  • The homeowner purchases a home for $110,000 and pays a monthly mortgage of $1,000.
  • After 6 years, the homeowner's payment is lower than the renter's monthly payment.
  • With the tax savings of homeownership, the homeowner's payment is less than the rental payment after 3 years! 

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Things To Do

Maine is a great place to live with a wide variety of things to do all year! We are always adding local events to our calendar so check back often.

View a Mobile Version of this Calendar

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Short Sales

Are You Looking For A Bargain? 

Have you considered a short sale property?

If you have been shopping for a house in today's real estate market, you have probably come across some "short sale" properties.

When buyers hear "short sale" the common reaction is to turn and run, but if you are prepared, purchasing a short sale can be a great way to purchase an affordable home with lots of potential for building equity.


SHORT SALE - When a property is sold for less than is owed to one or more lien holders.


Before you consider purchase a short sale,
there are some things you should know:

Timing

Despite the name, the timeframe for closing on a short sale is not short. The current mortgage holder could take months to decide if they will accept or deny your offer. Patience is key when purchasing a short sale.

Pre-Approval

Most banks will not consider a short sale offer unless the potential buyer provides a pre-approval letter. Having that ready to go could speed up the process and help your transaction move along more smoothly.

Financing

There are many types of financing out there. Some types of loans are not suitable for purchasing a short sale. If the property needs work, as short sales often do, they may not qualify for some programs. Programs such as Purchase Plus Improvement Loans (203K) or Rehab Loans are perfect for short sales. Make sure you speak with your lender about the possibility of purchasing a short sale to make sure your chosen loan program will work for a short sale property. Because short sales often take longer than other sales, you may need to update your information with your lender occasionally in order to keep your pre-approval.

Cash Purchases

If you pay cash for a short sale, you will usually need to provide a Proof of Funds letter from your bank showing that you have the cash available for the purchase before you offer will be considered. Having this ready to go can be helpful in improving your chances of having your offer accepted.

Inspections and Repairs

In most cases your Real Estate Agent can help you write your offer so you can wait until the short sale is approved to do your inspections. While inspections are important so that you know what you are purchasing, keep in mind that most homeowners are trying to sell as a short sale because of a financial hardship and probably don't have money to make repairs. In most cases, you will be purchasing the property "as is".

Other Offers

In many cases, the bank who holds the current mortgage will continue to accept other offers while they are considering your offer. An Real Estate Agent who is experience in short sales can help you try to avoid this situation.

Foreclosure

Many properties that are being sold as a short sale are heading for foreclosure. In most cases, an offer on a short sale home does not stop the foreclosure process. Basically, purchasing a short sale property takes patience and organization.


If you are well prepared, understand what you are getting into, want to build some sweat equity and have lots of patience...a short sale could be a perfect way for you to purchase a house at a great price!

 

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Contact
Agent Picture

Brenda Fontaine

(207) 784-3800 or (207)289-3830

brenda@fontaineteam.com

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