No Comments

FEMA Map Changes and How They Affect Maine Homeowners

Preliminary flood hazard data (preliminary data) provide the public an early look at their home or community‘s projected risk to flood hazards.

Recent changes to FEMA maps that determine federal flood insurance rates are going to have drastic effects on Maine homeowners living in flood-prone areas. In addition, Maine is home to one of the oldest housing stocks in the U.S., making the increase in insurance rates nearly “astronomical”, according to Maine’s Floodplain Management Program coordinator Sue Baker. READ MORE

No Comments

How to prepare for an appraisal

If you’re about to put your Maine home on the market, you’ll want to take some time to prepare for listing it. Through the process of selling the home, you’ll generally need to have an inspection and an appraisal. While that’s not the case in all sales, it’s the “norm,” and very common. Many people get ready for the inspection as much as they can, but few people give any thought to the appraisal. Rather than ignore it and just hope it works out okay, though, there are some things you should consider and you will also want to make sure it is “show” ready for the day that the appraiser comes by. READ MORE

No Comments

Tips for Rehabbing an Old Home

If you’ve purchased a lovely Maine home that’s older, one of the things you may want to do is consider rehabbing it. There’s a lot that can be done to make an older home more efficient, and to help keep the costs of operating and maintaining it down to a reasonable level. Some people are focused only on the cosmetics of their home when they rehab it, but others want to make sure they have a home that’s up to code and designed to be more modern, while still retaining the beauty of the older style and all of its charm. READ MORE

No Comments

Recent FHA Changes and How They Affect Buyers

Buying a house in Maine is often a combination of a lot of fun and a lot of stress. With that in mind, how you’re planning to pay for the home can affect how stressful it is to make your purchase. If you intend to finance your purchase and use FHA as your lender, there have been some recent changes you’ll want to consider. They can affect you as a buyer, so you need to make sure you understand what they are. One of the changes has to do with mortgage premiums, which have been recently lowered. That’s good news for buyers everywhere, as it will save them some money. READ MORE

No Comments

Fair Housing and Real Estate

In real estate dealings, it’s very important that everyone is fair to everyone else. Sellers want to get the most they can for their home, and buyers want to pay as little as possible. That’s completely understandable, and something worth carefully considering, but there are also laws that have to be followed with real estate transactions. Many of these regulations are based on fair housing laws, which are designed to ensure that people who work in real estate don’t allow discrimination in the purchase and sale of housing. This is also true with landlords, as they must rent fairly and without discriminating. READ MORE