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In 2014, the   Maine housing market   improved   on a year-to-year basis.   Home sales in the Portland area rose by 4.2 percent compared to 2013. The 551 single family housing units purchased in 2014 comes close to the 2005 record of 570 and also marks the city’s third consecutive year of increasing sales numbers. However, this performance is still lower that the 21.3 percent improvement in home sales that Portland recorded in 2013. On the upside, this slowdown in Portland sales rates brings the city’s average to a level below state averages, as well as below the numbers clocked in several other communities across the state. Median sales prices in Portland increased by a subtle 2.1 percent and the average price now stands at $238,000. This marks the fourth year in row with selling price improvements on the Portland single family home market. At the same time, the 2014 median selling price in Portland sits above the state average, which was stagnat last year.  Portland remains by f

Home prices nationwide soared 10.2% in February!   This is the largest year-over-year increase in home prices since March 2006, according to CoreLogic.   It also marks the twelfth consecutive monthly increase in national home prices. According to CoreLogic’s report, these figures includes distressed sales.   When excluding distressed sales, home prices rose 10.1% year-over-year in February. Nationally, home prices improved at the best rate since mid-2006, marking a full year of annual increases.   CoreLogic predicts that home prices (excluding distressed sales) are expected to rise 11.4% year-over-year from March 2012. Off to a great start in 2013!             For more more real estate news , visit my website at CristinaTheREALTOR.com .  

February existing-home sales and prices affirm a healthy recovery is underway in the housing sector, according to the National Association of REALTORS® . Sales have been above year-ago levels for 20 consecutive months, while prices show 12 consecutive months of year-over-year price increases. Total existing-home sales , which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 0.8 percent to a seasonally adjusted annual rate of 4.98 million in February from an upwardly revised 4.94 million in January, and are 10.2 percent above the 4.52 million-unit level seen in February 2012. February sales were at the highest level since the tax credit period of November 2009. For more more real estate news , visit my website at CristinaTheREALTOR.com .

Courtesy of: Dona DeZube   (Published: January 10, 2013)   From the mortgage interest deduction to energy tax credits, here are the tax tips you need to get a jump on your returns. Mortgage interest deduction Private mortgage insurance deduction Prepaid interest deduction Energy tax credits Vacation or second home tax deductions Home buyer tax credit repayment Property tax deduction Mortgage interest deduction One of the neatest deductions itemizing home owners can take advantage of is the mortgage interest deduction, which you claim on Schedule A. To get the mortgage interest deduction, your mortgage must be secured by your home — and your home can even be a house trailer or boat, as long as you can sleep in it, cook in it, and it has a toilet. Interest you pay on a mortgage of up to $1 million — or $500,000 if you’re married filing separately — is deductible when you use the loan to buy, build, or improve your home. If you take on another mortgage (including

Continued great news! In a press release to the media today, Maine Listings reports that Maine home sales increased 21.39% in January 2013 compared with January 2012. In that same time period, the median sales price increased 3.18% to $162,000.   To read more, visit: http://mainerealtors.com/ Statistics/2013PressReleases/ MaineHousingReport- January2013.pdf

According to the National Association of REALTORS®, resales of single-family homes, townhouses, condominiums and co-ops increased 2.3% in July from June to a seasonally adjusted annual rate of 4.47 million after an unexpected fall in June. Resales jumped 10.4% compared with the same month last year. Economists at the association believe sales could reach 5 million next year. Nationwide, prices have increased substantially, with the median rising 9.4% from a year ago to $187,300 last month. The increase is the largest since a 10.2% boost in January 2006. According to economists, demand is stronger due to low mortgage interest rates and rising rents.  Distressed homes, which include foreclosures and short sales, made up 24% of sales in July, down from a quarter the previous month and nearly 30% a year earlier. The median price of a single-family home was $188,100, up 9.6% from the same period in 2011. Sales of such properties rose 9.9% over the same period to an annual rate of

As we see signs of a housing market recovery and the glimpse that things seem ready to return to normal, major markets across the U.S. are about to be impacted by a new housing crisis… a shortage of housing. According to the National Association of Realtors, a comparison of the second quarter of 2011 to the second quarter of 2012 indicates: Existing home sales are up 8.6% Existing inventory for sale is down 24.4% Median home prices are up 7.3% Individually, each of these statistics indicates a major market transition. Collectively, they show unprecedented one-year movement in the housing market. According to the U.S. Census, the recent history of housing construction has been relatively consistent (between one and two million homes produced since 1968): Between 1968 and 2008 at least one million homes were constructed each year The year with the greatest output was 1973 at 2,100,500 homes The year with the lowest output was 1982 at 1,005,500 homes The average output