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 Linscott Real Estate
 
Selling Your Home
Brian Linscott
Phone (207) 767-3366 Fax (207) 767-5738 Linscott Real Estate 22 Cottage Road South Portland, ME 04106 |
Fall 2006 They said it was going to happen and it has! As seen throughout the country, real estate sales have softened and prices are starting to level off. We’ve seen 8-years of increases in home values and we are now seeing the market begin to correct itself. Sales in CumberlandCounty continue to be strong, but many agents I’ve talked with are 15-20% off last year’s sales numbers. As I write this in November, we have assisted 41 families either buy or sell a home. Last year, we had helped 46 families by this time which puts us about 10% down from 2005. The interest rates are holding firm and buyers now have a lot more inventory to look at. Sellers are continuing to price their homes in the high range but each day we see more price reductions than new home listings. Home prices in CumberlandCounty have leveled off and time on the market has increased to 2-3 months vs. last years 1-2 weeks and 2004’s staggering 1-2 days on the market before going under contract. Good news ahead! Interest rates will be stable, prices will be correcting, and buyers will be shopping. Marketing and staging of a property is more important than ever if a seller expects to maximize their investment and get a premium price for their home.
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