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

Homeownership is more than just a place to lay your head. Over the years, as you make payments and as the housing market appreciates, you accrue equity. And in recent times, given the boom in home prices, your equity might just be your hidden goldmine. CoreLogic's recent Equity Insights Report illum

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

  Key Points To Consider Based on the results of a recent Gallup poll, real estate has consecutively been named the most valuable long-term investment for over a decade, even surpassing gold, stocks, bonds, and other forms of investments. Owning real estate is not simply about having a place to ca

  You've probably heard a lot of people, from all walks of life, asserting that it's preferable to rent rather than purchase a home in this current environment. However, there are numerous compelling reasons to consider homeownership today. One of the foremost reasons is that owning a home is genera

If you've been giving buying a home some thought, you've probably been frequently monitoring every piece of news about the housing market you can get your hands on. News outlets, social media, chats with your real estate agent, or even casual supermarket conversations - they're all sources of insigh

  As a prospective homeowner in today's somewhat challenging market, developing a strategic approach is crucial, particularly with the current state of mortgage rates. The borrowing cost has significantly increased, prompting many to carefully reassess their home feature wishlist. It's about underst

Feeling hesitant about selling your house because you're unsure if you'll find your next home in today's market? Don't worry, you're not alone. But, there's some encouraging news that might just put your mind at ease. New home construction has seen a significant increase and is now a major contribut

  Considering buying a house? Well, one thing you should be aware of is how your credit score is a huge part of the home loan equation. Lenders scrutinize your credit to see if you're the type who can handle timely payments, pay off debts, and more. Plus, your credit score is a significant player in

  If you're looking to buy your first home, you're probably focused on all those costs involved in such a significant purchase. Without a doubt - your biggest cost is likely to be your down payment. It's common to feel daunted by the amount you need to save for this upfront cost, especially if y

  You might be seeing news discussing a decrease in homeowner equity. It's crucial to note that equity is closely linked to the value of homes. When home prices increase, so does equity, and vice versa. Let's look at how this dynamic has unfolded recently. During the 'unicorn' years, home prices sur

  As life unfolds, change is inevitable. For many, this could mean contemplating a shift in their living situation. If you're considering selling your house in Southern Maine, it's essential to keep your focus on the reasons behind your decision, rather than getting sidetracked by variables like mor

  Deciphering media narratives surrounding home prices can be a complex task. The main source of confusion stems from the data being used and the aspects they choose to highlight. Home prices, especially in dynamic markets such as those found in Cumberland and York Counties of Southern Maine, are of

In the midst of the headlines about home prices and fluctuating mortgage rates, you may be wondering whether investing in homeownership still holds merit, especially in the current Maine real estate climate. A recent poll from Gallup might help to resolve your doubts as it reaffirms that yes, indeed

  The process of buying a home can feel a bit intimidating, even under normal circumstances. But today's market is still anything but normal. There continues to be a very limited number of homes for sale, and that’s creating bidding wars and driving home prices back up as buyers compete over the ava

Even though home prices have moderated over the last year, many homeowners still have an incredible amount of equity. But what is equity? In the simplest terms, equity is the difference between the market value of your home and the amount you owe on your mortgage. The National Association of Realto

Some Highlights With so few homes on the market right now, widening the scope of your search to include nearby areas could help you find more options in your budget. You can also work with a trusted lender to consider alternative financing options and search for down payment assistance. If you’ve

  There’s been a lot of focus on higher mortgage rates and how they’re creating affordability challenges for today’s homebuyers. It’s true that rates climbed dramatically since the record-low we saw during the pandemic. But home affordability is based on more than just mortgage rates – it’s determin

  If you’re buying a home this spring, today’s housing market can feel like a challenge. With so few homes on the market right now, plus higher mortgage rates, it’s essential to have a firm grasp on your homebuying budget. You’ll also need a sense of determination to find the right house and act qui

Some Highlights Since inflation is increasing the cost of goods and services, it may make sense to look for an energy-efficient home. Energy prices have increased over the last year, so look for energy-efficient features in your home search. If you’re looking to buy a home this year, let’s connec