As a prospective homebuyer in 2023, you're likely keeping a keen eye on mortgage rates, given their significant influence on home loan affordability, especially in the present scenario. It's beneficial to analyze the historical journey of mortgage rates and discern their trajectory in alignment with

Last year, there was a whirlpool of media predictions insisting that 2023 would witness a significant plummet in home prices, brewing anxiety and raising questions of a possible echo of the 2008 housing crash. However, these projections largely missed the mark. Indeed, following the extravagant home

Although the feverish pace of the ‘unicorn’ years in the housing market has tempered, it remains a golden period for those looking to sell their homes, with the scales largely tipping in the favor of sellers. Wondering what this really spells out for you? The recent Existing Home Sales Report, as re

Key Takeaways As you chip away at your home loan and as the property values appreciate, your home equity naturally expands. Thanks to the current uptick in home prices, your equity could be receiving a substantial lift. In today’s market, a substantial number of homeowners find themselves equity r

  It's no secret that inflation influences various economic sectors, including the housing market. But how exactly does this relationship work, and what does it signify for potential home buyers and sellers? Let's delve into the intricate dance between inflation and the housing market, and see what

Maybe you’ve been holding back from selling your home, caught up in the chatter about mortgage rates rising and fearing that there aren’t buyers out there for your place. But let’s cut through the noise and look at the actual data, because spoiler alert: there are plenty of buyers on the hunt, and t

Some Highlights Limited Inventory: Current market reports suggest that there are only about half the number of homes available for sale compared to what was considered a normal inventory in previous years. Buyers' Demand: The reduced number of listings means buyers have fewer options to choose

In a period where whispers of recession loom, the economy, anchored by a robust employment landscape and steadily growing wages, holds steadfast, painting a hopeful picture for individuals contemplating selling their homes. Let's delve deeper into the crucial roles that employment and wage rates are

If you've taken a scenic drive through towns like Scarborough or Gorham recently, you might've noticed changes in the real estate landscape. But with the NAR's upcoming EHS report, you could be scratching your head. It's hinting at a dip in home prices, yet you've read elsewhere that home values are

Navigating today's housing scene, two factors are throwing prospective buyers off balance: the steeper mortgage rates compared to the recent past, and escalating home prices due to scarce inventory. Tackling these hurdles, many in places like Portland and Wells are teaming up with agents to discover

With the soaring costs in essentials like groceries and fuel, there's mounting speculation: will homeowners struggle with their mortgage payments, leading to a surge in foreclosures? Despite a slight increase in foreclosure filings from last year, industry experts are dismissing fears of an impendin

For homeowners in Maine, the decision to sell may be somewhat clouded by concerns about higher mortgage rates on the next property. However, understanding your home equity can shine a light on the true opportunities available to you right now. Demystifying Home Equity Home equity is essentially the

You might have felt the ripple of concern sweeping through neighborhoods in Southern Maine, from the shores of Wells to the bustling streets of Portland. Will the home prices drop significantly? It's a question that's been on the minds of many residents. But here's the silver lining: based on month

You might have heard whispers around towns like Brunswick or Biddeford. "Is now the right time to sell? Are people even buying homes?" It's a thought that may have been looming over homeowners for a while. While the housing euphoria of a few years back has simmered, let’s debunk a myth: the market i

Have you taken a moment lately to think, "Is now the time to sell my home?" Well, if you're in the Southern Maine area, the answer is a resounding yes! And here’s the kicker - there's a shortage of homes available right now. Sure, you’ve probably overheard conversations in Portland coffee shops or a

Key Takeaways: Home Prices on the Rise: As per expert analysis, various regions are already observing a hike in home prices. The general consensus among experts predicts an optimistic rise in property prices as 2023 unfolds. Mortgage Rates Tied to Inflation: The trajectory of mortgage rates for

For many, the world of the Federal Reserve (often simply called "the Fed") and its effects on the housing market can seem enigmatic. How does a decision by the Fed, situated in Washington D.C., influence your dream of purchasing a home in your locale? Let’s demystify this. The Federal Reserve’s Batt

  As you ponder the prospect of purchasing a home, Southern Maine—with its rich heritage, vibrant communities, and picturesque landscapes—may be on your radar. The decision to buy a home here, or anywhere, is significant. There's an array of factors to consider, from current mortgage rates to the in

It might not be the wild and feverish market reminiscent of those 'unicorn' days, but in Southern Maine, particularly places like Portland and Scarborough, homes priced right are flying off the shelves. The limited number of homes up for grabs is a driving factor. Here's an interesting stat: The Nat

  Here are a few key highlights to bear in mind if you're contemplating buying or selling a home and need a quick update on the current housing market situation: The housing inventory is still relatively scarce Prices are climbing their way back up Homes that are priced correctly are moving off th