Experience Portland’s Holiday Cheer!
December 15, 2011 by David Banks · Leave a Comment
It’s the most wonderful time of the year! Here at The David Banks team , we enjoy all four seasons of Southern Maine. The holidays are extra special, highlighting the charm and warmth of our communities in Portland, Falmouth and Cumberland. There are many special events to enjoy over the next two weeks, and we’ve picked a few suggestion for you!
The 11th Annual Portland Harbor Christmas Boat Parade of Lights is on Dec. 17! The parade starts at 4:45 p.m. There is a ferry boat ride available for $8.00; boat launches at 4:30 p.m.
If you’re into houses – like we are – or you simply enjoy beautiful decorating, be sure to visit the historic Victoria Mansion, now through Jan. 8! The holiday decor and themes change each year; if you’ve seen it once, you need to see it again! See their website for admission fees and hours.
The Maine Narrow Gauge Railroad Museum is once again presenting rides on The Polar Express! This attraction serves as a major fundraiser for the museum. Ticket prices run $25 to $40. The train ride itself is about 45 minutes, with total event time of about an hour or so. Catch the train Fridays, Saturdays and Sundays through Dec 23, with four scheduled departures each day of operation.
The Portland Stage brings the magic of “The Snow Queen” to life through Dec. 24. See the unforgettable imagery of Hans Christian Anderson’s classic tale in this inspiring theatrical performance. See the Portland Stage website for complete details.
Need to put together an outing to entertain family and guests? The official Portland Travel Site has suggestions for restaurants, shops, and events year-around!
As your Greater Portland and Southern Main Real Estate agents, we enjoy living in Southern Maine and sharing community events. Whether you are a resident of Southern Maine or a visitor of the area, we encourage you to explore the history, culture, scenery and events that make the Greater Portland lifestyle so enjoyable.
When it’s time to buy or sell a home, you can trust our knowledge and experience in the Greater Portland Real Estate market. If you have questions about Southern Maine real estate, turn to us for answers. We’ll be here for you!
All of us at The David Banks team wish you a warm and wonderful holiday season!
The David Banks Team
RE/MAX By the Bay
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4 Tips for Qualifying for a Mortgage Loan in Greater Portland
November 15, 2011 by David Banks · Leave a Comment
It’s hard to believe that the holidays are just around the corner! With this festive season comes a slower paced Greater Portland Real Estate market, which means that now can be an excellent time to buy! Lack of competition and sellers who are interested in selling quickly can create an ideal home buying scenario.
If you are planning on buying a home Portland, Cumberland or Falmouth this holiday season, you may be doing so because you’ve heard about the current real estate market leaning in the favor of buyers. However, it is important to be aware of the changes that have taken place this year with qualifying for a home loan.
Lenders have tightened the reigns on who qualifies for a mortgage loan to ensure buyers have the financial stability to hold on to the home. The past few years in the national housing market have proven that buying within your means is the safest path, and lenders are keeping a close eye on who’s purchasing in today’s market.
As a team Greater Portland Real Estate agents with RE/MAX By the Bay, we wanted to point out four tips that can help you get qualified for a mortgage loan so you can move forward with buying your dream home in Greater Portland! While there may be a few more hoops to jump through, getting approved and finding the home on the Greater Portland Real Estate market that fits your needs and lifestyle can be a smooth process.
Before beginning your home search, take a few minutes to review these four tips.
- Have the right credit score- Credit scores are moving to the forefront of being approved for a Greater Portland home loan. Most lenders are expecting a credit score of 600+ even for FHA loans. A good credit score will not only help you qualify for a home loan, but can lower your interest rate, which can save you thousands of dollars in the long run.
- Shop around- The interest rate is important, but there are other costs to consider such as discount points and even the type of mortgage loan. When shopping for best rates, compare various combinations of discount points and loan types. Your Greater Portland Real Estate agent can help you decide on the best option.
- Know your borrowing limit- If you’re not sure how much you want to borrow, a good rule of thumb is to look at the Federal Housing Administration requirements. FHA will limit mortgage payments at 31% of gross monthly income before taxes for most buyers. This can help ensure that you’re not getting in too far over your head. If we’ve learned anything over the past few years, it’s to play it safe in the housing market.
- Consider a No-Closing-Cost Loan- If you have positive equity, but are lower on cash up front, you do have an option to choose a no-closing cost loan. This simply means that you’ll have a slightly higher rate, but the closing costs will be paid over time instead of up front.
As always, we’re here to help! If you have any questions about qualifying for a mortgage loan, living in Greater Portland, are ready to put your home on the market or are ready to begin your home search; please contact us! We’d love to put our experience to work for you!
Have a Happy Thanksgiving!
The David Banks Team
RE/MAX By the Bay
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Get Your Greater Portland Home Ready for the Changing Seasons!
October 17, 2011 by David Banks · Leave a Comment
It’s a beautiful time of year in Portland Maine as the vibrant leaves and crisp blue skies act as the ideal backdrop for autumn activities. And, while it can be easy to get swept up in the busy fall season, it’s important to remember that your home will also need to adapt to the changes in weather. With the holidays just around the corner, you’ll want to take the time now to ensure your home is prepped for the cooler late fall and winter seasons here in the Greater Portland area.
As the Greater Portland and Southern Maine Real Estate agents on the David Banks Team at RE/MAX by the Bay, our goal is to not just provide excellent service for those looking to buy or sell a Greater Portland home, but to help make sure you’re getting the best that your home and the Greater Portland lifestyle has to offer! In order to fully enjoy settling in by your cozy fireplace this fall and winter, take the time to go through this checklist and you’ll find yourself relaxing in your weather proofed home in no time!
1. Air Out- Soon enough your home will be closed up as the Greater Portland days get cooler, so take the time to air out your home as much as possible this fall. The fresh air will help minimize mold, asthma and allergies in late fall and winter months. It will also help save on your heating and cooling bill!
2. Check the Chimney- Curling up next to a cozy fire in your Greater Portland home may just be one of your favorite activities this fall and winter. You’ll want to check your fireplace and chimney now to ensure that they’re properly cleaned out and that the vent is closed when not in use to prevent heat from leaking out.
3. Replace Air Filters- This is a very important step since it will help your heater work more efficiently and you won’t worry about recirculating mold and allergens into your home. Replacing the air filters will improve your indoor air quality for the colder seasons.
4. Seal Any Leaks- Making sure that any cracks in door or windows are sealed with caulking or weatherstripping will keep your home airtight. Keeping the cool weather out and the heat in will cut down on your energy bill and keep you comfortable.
5. Check Your Batteries- Be sure to check and replace all batteries in your smoke alarms and carbon monoxide detectors.
6. Clean Up Your Garage and Tools- You’ll want to clean up your summer tools as well as your lawn mower to keep your garage organized and keep your tools in good shape. Once the spring hits, you’ll know where everything is and be ready to start back up with your lawn care. Empty the gas out your lawn mower or blower by using them till its used up and replace oil in your mower so it starts easily next year.
7. Store Your Garden Hose- Drain out your garden hose completely and store it in the garage to prevent it from cracking or freezing.
8. Clean Out Gutters- Greater Portland has a beautiful tree-filled setting, but this can mean that your gutters and downspouts can fill up quickly with leaves this fall. You’ll want to check these a few times this season and make sure they’re completely cleaned out before winter.
9. Inspect Your Roof- If you haven’t already, be sure to check your roof for loose or missing shingles. If you have a satellite or antenna on your roof, make sue it’s sealed well to prevent any water or air leaks. You’ll want to be aware of any issues in your roof now so you have adequate time to get it fixed.
10. Insulate Your Attic- Hot air will rise and if your attic is not properly insulated, you can lose money and waste energy trying to keep your home heated this fall. Check to see if there is enough insulation in your attic floor and add more if needed.
We hope these tips will help you prepare your home for the cool months ahead! It’s always important to keep your Greater Portland home updated and in good repair to avoid any significant damage or issues down the road.
Living in Greater Portland provides such an excellent quality of life and is an ideal place to settle down for many. If you’ve been considering buying a home in Greater Portland, but aren’t quite sure where to start; please let us know! Our team is committed to making the home buying process a smooth and efficient one, and to providing the best service possible.
Contact us today to get started!
The David Banks Team
RE/MAX By the Bay
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Top Ten Tips for First Time Home Buyers in Greater Portland
September 15, 2011 by David Banks · Leave a Comment
Buying your first home in Greater Portland is an exciting time, and with this new experience also comes the learning curve of navigating through the Greater Portland Real Estate market. As The David Banks team of experienced Greater Portland and Southern Main Real Estate agents here at RE/MAX by the Bay, we enjoy working with first time home buyers. The sense of anticipation and dreaming of owning their first home brings about a renewed freshness and reminds us of those things we enjoy about real estate!
If you are considering buying a home in Falmouth, Cumberland or Portland for the first time; we would like to point out the top ten factors of successfully buying your first home. Our goal is to help you fully prepare for buying a home before you even begin looking at current homes on the Greater Portland Real Estate market. Having your financing and real estate goals in order will help create a smooth and efficient home buying process.
1. Check Your Credit Score- Lenders will put a lot of weight on your credit score, so you want to make sure to have your credit in order. They will determine how much you qualify for in a mortgage based heavily on your credit.
2. Create a Housing Budget- Have a clear understanding of your budget each month, and do not spend more than 30% of your gross monthly income on your Greater Portland home. This includes your interest, principal, homeowners insurance and taxes. You don’t want to put yourself in a financial bind that you are constantly struggling to maintain each month.
3. Save Up- Begin to save the difference between your monthly rent now and what you plan on your monthly mortgage being. This will prepare you for what the monthly payments will look like once you move into your home and help you make any needed lifestyle adjustments now.
4. Determine Your Needs and Wants- You’ll want to make two separate lists based on your needs and wants. Your needs should be those things you absolutely need in your Greater Portland home. Your wants will be those items that you would prefer, but are willing to compromise on. Narrowing down and sorting out your needs and wants will help immensely when searching for a home. You’ll have a clear picture on what you are willing to let go of, since you will most likely not find a home that has absolutely everything you would like. Know when to give and when to stand firm. You’ll quickly narrow down your home search this way!
5. Find a Reputable Greater Portland Real Estate Agent- You’ll want to find a real estate agent who has experience in the Greater Portland Real Estate market. An agent who has years of experience in the area will be a great asset in helping you find a neighborhood and home that best fits your needs and lifestyle.
6. Find a Lender- It is easy to want to begin searching online for your home, but without a sense of how much you qualify for; it’s easy to waste time looking at homes you might not be able to afford. Meet with a lender before you begin looking at homes and get pre-qualified. You’ll be able to search more effectively online and when you begin working with an Greater Portland Real Estate agent to find a home.
7. Choose a Neighborhood- We feel that you can’t go wrong in any area of Greater Portland that you choose! However, we also understand that each city does have a unique atmosphere and things to offer, so you’ll want to find the area that suits you the best.
8. Make an Offer- Your Greater Portland Real Estate agent will be able to give you a list of comparable homes in the area, and can help you determine an offer that is fair for the market. They will also make sure that you are being dealt with fairly as a first time home buyer.
9. Have a Home Inspection- This is very important! Even if the home looks perfect inside and out; there is no way of knowing what issues there may be without a home inspection. You don’t want to buy a home only to find that it needs the roof replaced or there is water damage. Having the home thoroughly inspected allows you to know exactly what you can expect in the home you buy.
10. Finalize- Once the contract is signed; you’ll still want to stay in touch with your agent and lender. There are always last minute finalizations that need to be made.
We hope that these ten tips will help you gain further insight into buying a Greater Portland home and what you are likely to experience. If you have any questions about the Greater Portland Real Estate market or are ready to begin searching for your home; please let us know!
Our goal is to make the home buying process as stress-free as possible and we would love to help you buy your first home!
We look forward to hearing from you!
The David Banks Team
RE/MAX By the Bay
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7 Things To Do to Get Your Greater Portland Home Ready to Sell
August 15, 2011 by David Banks · Leave a Comment
Here at RE/MAX by the Bay as The David Banks Team, we understand that selling your home can seem like a large undertaking. You may feel overwhelmed with all there is to do with getting your home ready to sell and making sure it’s a smooth and efficient process. In working in the Greater Portland Real Estate market for a number of years, we’re experienced in the ins and outs of selling a Greater Portland home and we would love to help you get your home sold!
While there are a variety of things that will need to be done, a great place to start is by making sure your home is in great condition to sell. As our nation is currently experiencing a buyers market, there are many homes that will be competing on the Greater Portland Real Estate market for buyers’ attention. Below are seven things to do to ensure your home is ready to sell.
1. Examine your Front Door: Oftentimes, the front door can be a forgotten piece of the home selling puzzle. Remember this is one of the first things a buyer will notice when they approach your home. Replacing doors with a more energy efficient door looks great and saves money on heating and air. If you don’t want to replace your current door, a simple paint job will give your old door an updated and refreshed look.
2. Check the Foundation: Inspect the foundation of your Greater Portland home for large cracks and shifts in the blocks. Seal large cracks and gaps between the foundation and concrete/earth and directly on the concrete.
3. De-Clutter: It’s easy to collect things that you don’t realize are giving your home a cluttered appearance. Take time to evaluate the things you really need to keep and those things that you can part with. The less clutter you have in your home, the larger each room will appear.
4. Get Rid of Mold: Examine your ceilings, attic, walls and bathrooms. If you do notice mold, you must identify the source of the mold before repainting. Ask a local contractor for help. When you are ready to repaint, use mold growth inhibitor paint made for high moisture areas.
5. Exterior Paint: Carefully scrape, prime and paint peeling spots on trim or woodwork. You’ll protect wood against summer’s heat and any moisture that can damage the exterior of your Greater Portland home.
6. Reseal: Caulk and other sealants safeguard your home against rain at vulnerable points such as cracks and open joints. Scrape out old caulk using a painter’s five-in-one tool. Clean and disinfect with one-part liquid chlorine bleach in three parts warm water.
7. Add some green: The first thing guests notice when approaching your Greater Portland home is color, light and symmetry. When adding new shrubbery, keep it symmetrical. Change outdoor light bulbs to energy efficient bulbs. It is amazing what some flowers, light and fresh paint can accomplish in your home in the Greater Portland area!
Once you’ve taken the time to prepare your home for a sale, you’ll find that your Greater Portland Real Estate agent can now move forward with getting your home on the market. A home in great condition will help the buyer rest at ease that they won’t find any hidden issues once they buy the home.
If you have questions about selling your Greater Portland home whether in Portland, Cumberland or Falmouth; please let us know! We would enjoy taking the time to answer your questions and walk with you through each step of the home selling process.
Contact us today to get started!
The David Banks Team
RE/MAX By the Bay
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