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Home values up for 8th month!

Home prices in July rose for the eighth consecutive month! According to Zillow, home prices went up 0.5 percent nationally, and several cities have seen even larger increases during the last week. The increase could give the market a boom heading into the fall, as more people will begin to put their homes on the market with the value inching up. Rent prices are also on the rise, Zillow reported, and some cities saw double-digit increases from last year.  With these rising costs, now is the time to buy! Chart from Zillow on rising home values:

August 21st, 2012 Home values up for 8th month!

Should you pay off your mortgage early?

If you’re one of the lucky Americans who pays their bills on time and still has extra money to spare, you may consider paying down your mortgage early. Which leads to a popular question: If you can afford to pay off your mortgage early, should you? As Justin McHood states in his post, “Paying Down Your Mortgage Wisely,” it’s really up to you, and it’s more about personal preference than right or wrong. First, you should check if your lender has a prepayment penalty. If it does, you should of course skip the extra or early payments. If it doesn’t, here are some questions McHood thin...

August 15th, 2012 Should you pay off your mortgage early?

Buying a home, step-by-step

If you’re a first-time homebuyer, you’re probably skeptical of the real estate process. You may not know what standard procedure is, and you certainly don’t want to be taken advantage of with one of the biggest transactions you’ll ever make. In his Zillow blog post, “The Anatomy of a Real Estate Purchase,” Brendon Desimone breaks down the 7 primary steps of buying a home. For the most part, we agree with Desimone, except there is one way to make buying a home MUCH easier. First and foremost, sit down with a mortgage lender. Getting pre-approved will allow you to search for homes yo...

August 7th, 2012 Buying a home, step-by-step

Home sales increase 26 percent in Maine!

Things are looking up across the country, but they’re looking particularly good in Maine. According to the Maine Association of Realtors, the sale of single-family homes in Maine increased more than 26 percent from June 2011 to June 2012! Nationally, the increase was about 4.8 percent, and 1.9 percent in the Northeast region – proving that Maine’s housing market is doing exceptionally well during difficult times. The median home price in Maine also rose about 1.68 percent, suggesting that the housing market has reached its bottom and values are back on the rise. People are taking advanta...

August 6th, 2012 Home sales increase 26 percent in Maine!

Get the most value from your home

With the economy at the forefront at nearly every discussion, homes are treated as investments, not just dwellings. Every homeowner hopes that his or her home will someday bring in more money than he or she put into it. Since mortgage rates and home costs are so low, many people are becoming homeowners twice over, and purchasing a second home to vacation to or rent out. In his Zillow blog post “5 Ways to Improve Your Real Estate Wealth,” Leonard Baron offers some tips for ensuring that your real estate will make you wealthier than before you purchased it.  Plan to own long term. Real esta...

August 6th, 2012 Get the most value from your home

Zillow calculator helps you look at value of buying vs. renting

Zillow is offering a new app that helps you decide whether you should rent or buy based on what they call “the breakeven horizon.” Deciding whether you should rent or buy largely depends on the amount of time you plan to stay in the same place because there’s a threshold for when buying makes more sense financially than renting. For example, if the average breakeven horizon for Portland 2.8 years, and you plan to live there for a year, it would make more sense to rent. But if you plan to live there for 2.8 years or longer, after purchase and selling costs, taxes, maintenance, appreciatio...

August 2nd, 2012 Zillow calculator helps you look at value of buying vs. renting

Acadia Lending Group LLC

190 Riverside Street Unit 4B
Portland , Maine 04103

Phone: 207-899-4500

Fax: 207-899-4503

NMLS: 370636

 

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