English French German Italian Portuguese Russian Spanish

Mooers Realty Blog

Latest Maine Real Estate News, Local Community Area Events From Mooers Realty. Help With Buying, Selling Property Listings Process.

Local Bank Lenders Work Best In Small Rural Maine Real Estate Markets.

Local Bank Lenders Work Best In Small Rural Maine Real Estate Markets.

The buyer for a property listing needs a real estate home loan.

Where to get the mortgage for financing the house for sale when cash is not an option. Or owner financing is not possible. Because the seller needs to pay off a mortgage and to replace the house with a new home address in another neighborhood somewhere else. mainerock1

Nationally there is a shortage of real estate property appraisers.

My Dad was one of the first crop of Maine residential real estate appraisers when licensing for valuations was needed. Prior to that the licensed Maine real estate broker could issue valuations. Appraising a property, valuation was one of the three components of licensure when I took my broker's exam in 1979.

Real estate practices and law were the other two components to getting, passing an agent or broker's license test to hang on the wall of an agency. Valuation was the toughest teacher, Ted Sherwood from Bangor drove home the point and made sure you knew the fine points of valuation for which I thank him. Dana Devoe was the law instructor, Earl Black the practices teacher who I still see at state REALTOR conventions each fall. 

Maine small town bankers prior to appraisers being brought on board could visit the property and size it up for condition and value for the collateral securing a mortgage loan. The home town mortgage lender made character loans too with local control and based on past experiences with the borrower or from family dealings in the small Maine town. Maine only has a handful of cities and small town communities is the norm in Vacationland. 

So back to the blog post title that kept your reading this far.

Local real estate bank home loans, protecting rural small towns in Maine. In my area of northern Maine the shortage of appraisers for the work load is felt in our local markets. One appraisal firm out of Washburn Maine recently announced they were pulling back their horns and not servicing southern Aroostook County any longer. So the tightness for appraisers to do the mortgage loan underwriting inspections and valuations just increase a few clicks on the rachet tension. 

So my advice to a home buyer looking for a home loan in Maine's small rural real estate markets is to keep it local.

Use those banks with processing centers in Maine. With local outlets for lending from institutions that have banks, credit unions in the small Maine town or in one of the sixteen counties of the Pine Tree State. Why? Lots of reasons. First and foremost is the service you you receive and the time that is not wasted waiting for the clear to close real estate memo. 

Continue reading
101 Hits

Get More Real Estate For The Dollar In Small Rural Maine Markets.

Get More Real Estate For The Dollar In Small Rural Maine Markets.

The price tags hanging off the properties, the real estate in Maine are not all the same size.

 
If you point your car or slide your mouse north, up into the interior of Maine, prices shed pounds. Become skinny, lean and mean. Because the coastal tourist traps, the few cities Maine has to brag about carry hefty prices when it comes time to seriously consider buying a property. The cost of living is lower in rural areas of Maine. Has to be because the local pay scale is lower to the ground to match it.Drews Lake Beavers Photo
 

The shift from doing it yourself instead of hiring it out is part of moving to rural Maine transition.

 
To me it improves your life, creates more respect for personal property of your own and others. Because hard work, careful planning and an easy does it attitude is your approach to life. Like the community living, you are more intimate, more connected to the surroundings, to your property where pride is high. Because you are more invested. More on simple living in Maine and being better prepared for whatever is ahead.
Continue reading
138 Hits

The Wrench Thrown In The Cogs Of A Perfectly Good Real Estate Sale.

The Wrench Thrown In The Cogs Of A Perfectly Good Real Estate Sale.

Any real estate agent or broker can make a property sale look easy.

To make the process appear seamless as if each property listing transfer could be done with one hand tied behind their back or wearing a blindfold. In reality, nothing could be further from the truth. Because real estate is an emotional job dealing with all personality types and working around tremendous pressures caused from rushed relocation, mainerealtordwindling resources to carry the expenses of a property listing. And add in the added stress of a divorce, poor health or death and the estate sale squabbling that can add to the difficulty of the real estate sale.

But a seasoned, experienced real estate professional has weathered many markets, dealt with lots of property sale situations and the folks involved in each and every property sale.

So our job is to give advice that sometimes is taken in whole, part or not at all. If the struggle to suggest the best course of action goes on deaf ears, the real estate professional should see the red flags. To wave his or her own white one to surrender. To take a step back and thank the buyer or seller for their time but to suggest there is a better fit out there to represent them. Realizing that you can not help them and that you are not able to meet their expectations. So you can move along to the listings and real estate sales that you can do your best work for results.

This blog post highlights a few of the unknowns that can raise havoc in a real estate sale. MOOERS REALTY has blogged before on areas where sellers can help or hurt their sale. When buyers can do good or harm the process in the real estate sale.

Besides whether the buyers or sellers take your advice or not, what are the wrenches that get thrown into the cogs of a real estate sale that are harder to control or plan for in a transaction? There are plenty that have nothing to do with the buyer or the seller and that can easily get missed early on to only rise up and show their ugly head later. 

Continue reading
263 Hits

Banks in Houlton Maine | Where To Get A Local Mortgage, Your Lending Options.

Banks in Houlton Maine | Where To Get A Local Mortgage, Your Lending Options.

Getting a mortgage, lenders, local banks in Houlton Maine.

 
This blog post will help you identify who is local for bank to obtain financing to mortgage a house or other property listing. The address, contact numbers to follow. And dealing with local bank lenders for a mortgage in Maine just makes sense on many levels. You need a bank to save your money is, to store the nuts so to speak too right?
 
First, you are supporting the local economy and want to be a good member of the community you are investing in. And because there is a shortage of residential appraisers, and the local lenders get the best servicing from the ones we do have.
 

Working with the local bank mortgage loan arranger and using those licensed real estate appraisers living and practicing in northern Maine just works best. There is no debate on that.

 
So on with the show, here's who you have on tap for financing when you need a mortgage on property in Northern Maine, Southern Aroostook County. Starting at the beginning of the alphabet, the first financial institution with sticks and bricks in Houlton Maine is Bangor Savings Bank. Located on the corner of Court Street ( US RT 1 ) and Military Street, the physical address for mail and your GPS setting is 38 Court Street. P.O. Box 764. The location is directly across from the Houlton Post Office. Reach out to Christine Nickerson, branch manager at 207.532.4001. houlton maine aerial photo
 
Email address for Bangor Savings Bank is This email address is being protected from spambots. You need JavaScript enabled to view it. . BSB has about 56 branches around the state of Maine.
 
The County Federal Savings and Loan merged with the Houlton Federal Credit Union. The merger moved from downtown Market Square up to the higher exposure US RT 1 North Road brand new location.
 
The physical address is 247 North Street Houlton Maine ( US RT 1 ). It is the second property on the right heading north after you take the Houlton Maine I-95 Exit 302. Call 207.532.7658. Ask for Kyle Taylor. Hit up the County Federal Credit Union in Houlton Maine
 if you hunting down a mortgage product and need financing help.
Continue reading
307 Hits

Real Estate Video And Why It Works Promoting Listings.

Real Estate Video And Why It Works Promoting Listings.

Videos for real estate save everyone time.

Real estate videos work because they are instant. Real full motion video, not a slide show of the same images the buyer has already sat through show how the rooms connect. You don't get one shot of each room, a couple exteriors and that's it. Until your buyer clears the time, has the added expense of physically traveling from far away to be at the property. To finish what was left out of the online listing presentations.mainemap
 
Missing information is no fun.
 
Delays are costly in real estate and if the buyer can not get the full tour with sight and sound when the desire is greatest, when you have their full interest and attention, then the fondness fades.
 
Other things come up on the buyer's end to distract and pull them away from the property listing that lacked the follow through completeness that real estate video delivers oh oh so easily.
 
Besides saving time for a buyer filtering through lots of property listings, video provides more detail.
 
The scan of a room is 25 or more "pictures" per second and those video frames provide a look at the entire room. Not just from one angle which cuts off and limits the total experience that you would have with a real live walk through of the property. When you swivel your head to take it all in.
 
The audio provides forty percent of the information transfer experience too and supports what is being shown for video loops that are carefully stitched together in the property listing presentation.
 
The video is a story, that involves history, location, seller's plans, the convenience elements besides the rich detailed property listing features. 
 
How old is the roof and heating system, where would you add on the mother in law bedroom is all part of the sauce in the video recipe. To help the buyer distinguish this property from the next. Again with little time, the mission for the real estate buyer is to see all that they can afford that meets their living requirements today but to filter out and remove all those properties that won't fit their needs. Video spells it out, gives the complete picture and is the sauce that ties it all together for the other end of the signal.
 
The National Association of REALTORS reports less than five percent of real estate agents or brokers use video in their marketing. NAR also found in studies that 73% of sellers will likely list with agencies offering video over those who do not provide them. Videos are also not limited to just property listing presentations either. Your out of state buyer needs to know more about the area, the community the property is located in before moving on to picking a place to buy. Videos that show the local area events build the interest in the communities they are planning to invest their hard earned dollars in if they like what they see and hear.
Continue reading
339 Hits
Videos For Maine Real Estate For Sale