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In light of COVID-19 crisis, the IRS has extended the income tax payment and filing deadline for individual  and business returns from April 15, 2021, until May 17, 2021. This relief does  not  apply to estimated tax payments for tax year 2021 that are due on April 15, 2021. You don’t need to file additional forms to qualify for this extension. Now that you’re a homeowner, your taxes may have gotten more complicated.  And you may be asking yourself, “Do I need an accountant?” And if you do, should you hire a certified public accountant (CPA)? And what’s the difference between a CPA and an accountant? Plus, you may be one of many people who worked from home last year because of COVID-19 and wonder if you can deduct some of your home office-related expenses. Or you may have moved out of state or tapped into your 401(k) for supplemental income. Here is some information to help you: The Differences Between Tax Experts and Other Options First you need to know there are different types of t

High demand for single-family existing homes across Maine continues, despite the yearlong COVID-19 pandemic. Maine Listings indicates a sales increase of 22.77% for the month of February 2021 compared to February 2020.  Home prices rose 12.91% to reach a median sales price (MSP) of $244,900 comparing February 2021 to February 2020.  The hot pace of residential real estate activity continues, with sales volume and median sold values significantly out-performing February of a year ago.  When listings hit the m arket, buyers are acting quickly. For February 2021, the statewide days-on-market statistic was 21 days, compared to 52 days for February 2020. Over the coming year, we’re hopeful for a return to pre-pandemic conditions, with more sellers entering the market which will ease the pent-up demand.  Until then, buyers should work with a REALTOR® to learn about the local market, develop a strategy, and remain committed and patient.

Buyer demand for Maine’s real estate is strong and for-sale home inventory is historically low. According to Maine Listings, the median sales price (MSP) for a single-family existing home in Maine rose 15.57% to $255,300 and sales volume jumped 18.38% comparing January 2021 to January 2020.  Coming off 2020, the best year ever for sales volume, we are struggling with historically low for-sale inventory statewide. Buyers are facing far fewer available home choices and sellers are reluctant to list their properties without their next move-in property in place. Buyer demand is strong, and a continuing positive trajectory for 2021 is dependent on homes for sale coming onto the market.  The National Association of Realtors reported a 23% rise in sales of single-family existing homes across Cumberland Country comparing January 2021 to January 2020.  Home prices jumped 14.8% percent over January 2020, reaching a national MSP of $308,300 in January 2021.  This high demand, low supply

The COVID pandemic hasn’t stopped people from buying houses. But it has changed how buyers view  homes, with technology sometimes replacing the in-person experience. To help keep everyone safer and comply with state and local guidance, agents are using virtual home showings, virtual home tours, and virtual staging instead of or along with open houses, in-person showings, and traditional staging. That means you can buy a home without setting foot inside it. But it also means you need to understand what you are seeing – and not seeing. And you need to know what questions to ask.   Here’s a look at the virtual options and some of the pluses and minuses of each:  Virtual 3D Home Tours — Good for a First Look With a virtual home tour, a seller’s agent looks to show off a property’s best features. This marketing presentation is what potential buyers see online at a real estate site. It may be a 3D tour or a gallery of retouched photos of staged rooms. Regardless of the format, it shows the p

Maine’s residential real estate market fared well in 2020, despite the impacts of COVID.  The Maine Association of Realtors and Maine Listings show a sales increase of 9.82% for all single-family existing homes sold during 2020. Values rose by double digits during the year with a statewide median sales price of $256,000, which is an increase of 13.78%. The year ended with historic highs for the number of reported transactions (19,921) and median sales price. In month of December, sales across the state of Maine were up 31.53% compared to December 2019, and the statewide MSP of $270,00 represents an increase of 15.38% from the previous year. Sustained low mortgage interest rates and Maine’s reputation as a safe place to live relative to the rest of the U.S., combined with the emergence of teleworking has created an unprecedented demand for residential real estate in Maine.

Here are some creative ways to make your house lighter, brighter, and cheerier with more natural light indoors: #1 Take the Screens Off Your Windows You will get 30% more sunlight shining indoors without screens on your windows.   Sunlight warms your room and saves you money on your heating bill. Be sure to store your screens in your garage or basement where they won’t get damaged. In the spring you will want to put them back on so you can keep that 30% of the sun out and run your cooling system less. #2 Hang Outdoor String Lights Indoors Drape string lights around a window or a mantel or hang a string of LED glimmer lights in a tall potted plant. They will add a layer of soft light to your room and remind you of fireflies, flip-flops, and patio parties. #3 Lighten Your Interior Keep interiors pale to reflect and amplify light.   Think white walls, light woods for furniture and floors, and light upholstery.   To get the look without getting rid of your dark furniture and

The low inventory of homes for sale and the high demand for Maine’s lifestyle continues to drive real estate sales and values into the double digits.  According to Maine Listings, 1,965 single-family existing homes were sold in November, which is an increase of 31.17% compared to November 2019.  Home values also increased 20% to a median sales price (MSP) of $270,000.  Residential real estate activity in Maine is strong.  In most markets across Maine, Realtors are reporting multiple offer situations for move-in ready listings. The increased competition for historically low inventory of available homes is resulting in price appreciation.   Year-to-date sales are 7.9% ahead of the comparable time period of January through November for 2019— Maine’s best year ever.  One-third of November’s sales involved out-of-state buyers, compared to one-fourth during November of 2019.