Last month, we talked about why now is a great time to buy a home in the Greater Portland area.  It seems that, while the national housing market is improving, it’s still leaning somewhat in the favor of buyers.  So, what does that mean if you’re wanting to sell your Greater Portland home?  Read on!

As The David Banks Team here at RE/Max By the Bay, we specialize in working with buyers and sellers.  In fact, we’ve been recognized as having “the highest overall satisfaction for home sellers and home buyers among national full service real estate firms.”  In other words, we work hard for our clients and get the job done!  As you view our website, you’ll notice a slideshow of all the homes we sold last year… and yours could be next!

We understand that selling a home can seem like a daunting task, especially in a buyer’s market, but our team of Greater Portland Real Estate agents will be here to guide you each step of the way.  If you’re wondering what you can do to help your home sell quickly, below are a few quick tips you’ll want to consider.

1. Research- While your Greater Portland Real Estate agent will provide you with comparables of what other homes in your neighborhood are selling for, taking the time to do a little research on your own will help you prepare for what you can expect.  Take note of home prices in your area and what upgrades those homes have to offer.

2. Fix it Up- You’ll want to know what needs to be fixed before buyers begin looking at your home.  Having a “pre-inspection” by a home inspector will allow you to fix any necessary repairs so that they don’t come up in the buyers home inspection.  This can help speed up the process once you find an interested buyer.

3. Act Like a Buyer- If you were looking at your home as a buyer, what would you see?  Are there any updates you’d want to make such as paint, appliances or finishes?  Acting like a buyer for your own home will give you insight into what you can do to make your Greater Portland home more attractive to buyers.

4. Make it Move In Ready- Today’s buyers have the option to be picky and many want a home that’s move in ready.  Your home will need to have those key factors that are now considered standard in a Greater Portland home such as granite countertops and stainless steel appliances.

5. Price it Right- This is a key factor that cannot be stressed enough.  Pricing a home correctly from the beginning will help you sell your home more quickly.  Your Greater Portland Real Estate agent will work with you to show you what other homes are selling for and to determine a fair market value for your home. If your home is priced too high, it  will sit on the market and you’ll eventually have to lower your price.  If you decide on a price that is the lowest you’d like to go, be prepared to offer buyers other incentives such as closing costs or a flexible closing date.

Getting your Greater Portland home sold in a timely and efficient manner will mean pricing it correctly and boosting its’ appeal for the buyer.  Armed with these tips and an experienced Greater Portland Real Estate agent by your side; you should find the home selling process to be stress free and efficient.

If you’re ready to put your home on the Greater Portland Real Estate market, or still have questions about selling your home and would like to talk to a trusted Greater Portland Real Estate agent; please feel free to contact us today!

We would enjoy the opportunity to talk with you, and help get your home sold!

The David Banks Team
RE/MAX By the Bay

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If you’ve been considering buying a Greater Portland home, you’re probably aware that the spring market tends to be one of the busiest seasons for buying or selling a home.  The warmer weather, longer days and thoughts of settling into a new place before summer energizes buyers to begin their home search in the Greater Portland area.  Sellers also find it’s a great time to spruce up their homes after the winter season and venture into the Greater Portland Real Estate market in hopes of selling to eager buyers.

Yet there are a few additional reasons other than a busier market that makes now an excellent time to buy a home in Greater Portland.  You’ll find the low mortgage rates and favorable home prices to be an instant perk and, with the continual upswing of the national housing market,  these historic lows may not be around much longer.  As Greater Portland Real Estate agents, we wanted to provide you with a few more reasons to begin your home search today.  Take a look!

Appreciation- Buying a Greater Portland home now (at the current rates) can almost ensure your home’s appreciation in the future.  Mortgage rates are near historic lows and home prices are the lowest the nation has seen in 10 years!  If you hold on to the home until after the market improves, this can result in a significant return on investment!

Property Tax Deductions- For income tax purposes, real estate property taxes for a vacation home and first home are fully deductible.  The IRS (Publication 530) provides detailed tax information on and answers questions on what deductions for which home owners are eligible.

Preferential Tax Treatment- If you own your home for over a year and receive more profit than the allowable exclusion after the sale of your home, the profit will be considered a capital asset, which are given preferential tax treatment.

Equity Building- There are many factors that play into the final decision of which mortgage loan works best for you such as credit qualification, loan flexibility and annual percentage rate (APR).  However, there’s a new trend towards equity building among today’s buyers which means paying more on a loan each month in order to decrease the principle balance more quickly.  This trend, called equity building, allows borrowers to:

- Pay off the principle balance faster

- Lock in record low interest rates

- Shorten the length of their home loan

- Own their home faster

- Pay substantially less mortgage interest

Pride- This aspect is still key when it comes to the benefits of owning your own home.  Going through the home buying process, building value into your home and having a place to call your own is still a thriving portion of the American dream.

As the David Banks team here at RE/Max by the Bay, we hope these factors give you greater insight into the current buyers market.  And, while we know that now is a great time to buy a Greater Portland home, we also know it’s a large financial decision and one that should be taken very seriously.  That’s why we’re here to help!

We are always available to answer any questions you have about buying a home in Greater Portland and would be happy to talk with you about your real estate needs.  Our goal is to help you find the exact home for which you’re looking as well as to ensure the home buying process is as smooth and efficient as possible.

Please feel free to contact us today to begin your Greater Portland home search!

The David Banks Team
RE/MAX By the Bay

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As Greater Portland Real Estate agents with RE/Max by the Bay, we have years of experience with both buyers and sellers in the Greater Portland Real Estate market.  When it comes to buying a home, most of your time goes in to finding the Greater Portland home that fits your needs and lifestyle.  But, when it comes to selling a home, we oftentimes get the question from clients, “what can I do to help sell my home?”

While the majority of work that goes into selling a home will be taken care of by your Greater Portland Real Estate agent, there’s still a part you can play in making your home irresistible to buyers.  Open houses are a great way for buyers to get a feel for your home and what it has to offer, which means you’ll want to put your best foot forward!  Below are six tips that you can do to help ensure a successful open house for your Greater Portland home.

1. First Impressions- Believe it or not, a nice doormat or attractive porch can really set the tone for the entire open house.  If there’s an old doormat, chipped paint or nothing special about the entrance to your home, buyers may feel that you don’t really care.  A welcoming setting from the start will instantly let buyers know that your home is well-maintained and that each area of your home is cared for.

2. Make it Generic- It’s great to make your home personal; however your pictures, children’s art or your “to do” list on the refrigerator can be a large distraction to potential buyers.  They need to be able to envision themselves in your home, so putting away those personal items will help buyers picture their life in your Greater Portland home.

3. Clear Counters- Look at your kitchen or bathroom counters from a outsiders viewpoint.  Do you have too many appliances cluttering your kitchen counter?  Clearing this space will make there appear to be more room for cooking or their own storage.  If your bathroom counters are filled with perfumes, toothbrush holders, etc… take time to put them in cabinets or drawers so buyers can see the actual size of the space.

4. Set the Table- This may not seem necessary, but having your dining room table set with nice place settings add a touch of class and can help the Greater Portland buyer envision hosting their own dinner parties.

5. Get to the Heart- The best way to appeal to the buyers’ heart is through offering something special when they walk in the door.  Whether you bake fresh cookies or have coffee or lemonade for them on your counter; these added touches will set your home apart.  Lighting a mildly scented candle and having your home appropriately heated for the day’s weather can make your home instantly feel comfortable to the buyer.

6. Don’t Stick Around- While it may be tempting to want to hear what the potential buyers have to say, it can be awkward when the seller is present.  They will feel that they can’t openly express their thoughts to the agent and will not feel as comfortable when looking throughout the home.  Even if you take a walk through the neighborhood, being away from the home during an open house can make all the difference.

As you can see, these are simple ways to help your home stand out from the competition in this busy spring market.  Highlighting the best features of your home and showing that your home has been well maintained will allow buyers to rest assured they can move and settle in quickly.

If you have further questions about selling your Greater Portland home or what we can do to get your home sold; please contact us!  Our goal is to ensure you have a smooth and efficient home selling process, so that you can move forward with your next steps.

We hope to hear from you soon!

The David Banks Team
RE/MAX By the Bay

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If you’re thinking of buying a home in Greater Portland Maine this year, you’re probably eager to begin your home search.  Discovering what’s available on the Greater Portland Real Estate market and finding a home that fits your needs and lifestyle is an exciting time!

As real estate agents in Greater Portland, our goal is to make sure those entering the Greater Portland Real Estate market know what to expect and are aware of some of the common mistakes that can easily be avoided.  Buying a home in Greater Portland can be a smooth and enjoyable process, especially if you have a trusted Greater Portland Real Estate agent by your side helping you each step of the way.

Below are eight of the most common home buying mistakes that we wanted to point out so that you know how to handle these various situations if and when they arise.

Mistake #1: Waiting for the market to improve or not buying at all- No one can predict precisely where the market is going, so trying to time your Greater Portland home purchase with the bottom of the market is risky. All the time you spend procrastinating on purchasing a home, you could be building equity, getting tax deductions and enjoying the many other benefits of homeownership!

Mistake #2: Falling for love at first sight- If you don’t shop around the Greater Portland Maine Real Estate market and see what else is out there, you could miss out on a good deal or potentially regret your purchase. While you don’t need to visit every home in the neighborhood, you should compare at least three homes before you make a decision to ensure that you’re getting the right house at the right price.

Mistake #3: Buying a house you can’t afford- It seems that our nation is learning its lesson in spending more than you can afford, and it’s no different in your Greater Portland home purchase. Just because you get approved for an larger loan than you expected; doesn’t mean you should buy a home at that price. Be wise in thinking through what you can actually afford and factor in any repairs or updates you plan on making in the home.

Mistake #4: Making an offer without contingencies- Having a back-out plan is a must for smart home buying. If the home has an irresolvable flaw, it doesn’t appraise for the purchase price, or your lender refuses to fund your loan, having contingencies on your contract gives you the right to cancel the transaction.

Mistake #5: Not reading the fine print- It’s smart to have your Greater Portland Real Estate agent review all your paperwork and discuss it with you so you don’t get caught off guard at closing. There are a few documents and items that are truly critical, and you can request a copy of these in advance. This gives you time to review them and ask questions before closing.

Mistake #6: Forgoing a home inspection- Even if a home appears to be in perfect condition, it’s a mistake to assume that it’s actually problem-free. Even brand new homes can have defects, so getting a professional inspection before making the commitment to buy is crucial. Be sure to attend the inspection so the inspector can explain any issues.

Mistake #7: Thinking short-term- The Greater Portland home you purchase should be a place that feels like home to you and your family, but it’s important to remember that it’s also a huge investment. When shopping for a home, it pays to think about resale down the road. Search for homes in sought-after neighborhoods, and look for features that future buyers will want, such as a great kitchen and lots of storage space.

Mistake #8: Not getting pre-approved before house hunting- Before you start house hunting, narrow down your price range by getting pre-approved. Shop for an Greater Portland lender or mortgage broker you can trust. The mortgage pro will review your credit, income, assets and debts, and recommend a mortgage with monthly payments that fit your budget. Not only does this let you know how much house you can afford, it also lets sellers know that you’re serious about buying.

While these are common mistakes among first time home buyers who haven’t experienced all that goes into buying a home, even the most seasoned home buyers can easily fall into these pitfalls if precautions aren’t taken.  We hope this blog is helpful as you get ready to begin your Greater Portland home search!

If you have more questions about buying a Greater Portland home, are interested in learning more about the current Greater Portland Real Estate market or are ready to get started; please let us know!  We would enjoy the opportunity to work with you and help you navigate through the Greater Portland home buying experience.

Please feel free to contact us today to get started!  We look forward to helping you find your Greater Portland home!

The David Banks Team
RE/MAX By the Bay

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It’s exciting to start a fresh new year and many of you have created goals that you’d like to achieve in 2012.  As we all know, the best way to reach your goal is to have a realistic plan in place.  If one of your goals is buying or selling a Greater Portland home this year, there are a lot of key pieces that need to come together in order to do so!

As Greater Portland Real Estate agents who are part of the David Banks Team at RE/MAX by the Bay, we have many years of combined experience in the Greater Portland Real Estate market.  We’ve seen buyers and sellers who attempt navigating through the real estate market on their own, only to end up frustrated and disappointed with the results.

We know that one of the foundational elements to achieving your real estate goals is to have an experienced Greater Portland Real Estate agent by your side, so we’ve gathered the top ten reasons why.

1. Education and Experience- Their years of training and experience in the Greater Portland Real Estate market will be a great asset to you! You don’t have to put pressure on yourself to learn about the market or how to negotiate a deal since a real estate agent will be fully trained and know the ins and outs of the Greater Portland Real Estate market.

2. Agents are Buffers- You won’t have to deal with multiple phone calls from buyers or other agents. Buying or selling a home can get personal and your Greater Portland Real Estate agent can act as your personal shield against pushy buyers or bad deals.

3. Area Knowledge- If you’re buying a Greater Portland home and are relocating to the area, your Greater Portland Real Estate agent will know the best places to search to fit your needs and lifestyle!

4. Price Guidance- Your Greater Portland Real Estate agent can guide you in what you want to offer on a home and help you come up with a price that works within your budget. They can also give you advice on pricing your home correctly from the beginning.

5. Market Condition Information- You’ll get an inside look into the Greater Portland Real Estate market such as what homes are currently selling for on the market or when a home is a good deal.

6. Professional Networking- Your Greater Portland Real Estate agent  may already have a connection to an interested buyer for your Greater Portland home! They will also have contact with other Greater Portland Real Estate agents and brokers and can get the word out about your home being on the market.

7. Negotiation Skills- Negotiating a contract can be tricky and your Greater Portland Real Estate agent will be able to navigate through this process to ensure you are happy with the deal.

8. Handling Volumes of Paperwork- There’s a lot of paperwork that goes into buying or selling a home. Your real estate agent will be able to take care of this for you and make sure every “i” is dotted and every “t” is crossed!

9. Answer Questions after Closing- Sometimes there can be issues that arise during the closing or taxing authorities can get behind in their paperwork and call you months after closing. A good real estate agent will stick by you even after you close a deal to take care of any after effects.

10. Develop Relationships for Future Business- Finding a trusted Greater Portland Real Estate agent can be tough, but once you find one; you’ll want to develop a great relationship with them! Whether you are looking to buy or sell again in the future, you know that they’ll be your first choice so building that relationship is key!

If you’re hoping to sell your Greater Portland home or buy a home in Southern Maine; we’d love to help!  Our team can help guide you through each step of the process and ensure you successfully reach your real estate goals!

Feel free to contact us today to get started!

The David Banks Team
RE/MAX By the Bay

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View Greater Portland Homes
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