A gorgeous 3 bedroom/2 bath Cape with open floor plan situated on a wooded lot. This home also has a screened-in porch, full basement, and an efficiency apartment above the 2-car garage. Located in a quiet and peaceful neighborhood, just 5 min to Windham and Sebago Lake.
Enjoy more free time with a minimalist lifestyle in this charming post-WWII Cape. Situated on a double lot perfect for a garden. Located on a quiet dead end street. The unfinished attic space would be perfect for storage. The dry basement could be finished. Inexpensive to heat. They don't make 'em like this anymore. This is small living in style! Ride your bike to Portland, or hop on the Green Trail. You are also only minutes to beaches! Don't miss this one!
It's so important when it comes to buying or selling to find an agent that you trust. This is your home. This is your investment. Real Estate is more than just a transaction, it involves your emotions. The memories that were made in your old home and the aspirations that you have for your new home are all part of the process and should be considered. However, sometimes emotions can make it difficult to make the best possible choice. That's why having an agent you trust will help you make the best decision possible when it comes to buying or selling!
Home valuation
When it comes to selling your home, hearing that the value is lower than you expected can be hard. Market conditions and historical data can provide Realtors with information to provide you with an estimated value based on comparable properties, called a Comparable Market Analysis. Polly Cockrill, Gray Fox Real Estate’s Designated Broker and Owner, can explain why it is so important that you trust your agent when it comes to valuing your home.
“I try to use similar methods to valuation that an appraiser would use to price a property to avoid problems for my clients. I spend quite a bit of time providing a Comparable Market Analysis. I collect data of homes that are similar in size, age, and location. For rural properties, this can be a challenge because there are generally fewer comparables. I also take into consideration the cost of construction on newer homes or homes that need total rehab. Often, I find discrepancies between what a home will sell for and the value of the home after considering the costs to rehab. There is an increasing disparity between the cost of construction approach to value, and market value.. Market value is defined as what a Buyer is willing to pay.”
Negotiation
No one wants to pay too much for a property, especially when it’s an investment as large as buying real estate. Negotiating can be difficult because you don't want to make an offer that’s too high and spend more than you need to, but you also don't want to offer too little, and get outbid by another buyer. This is where your agent's knowledge and experience comes into play. They have the skills that are needed. They know how to negotiate. Your agent will advice you and make their recommendations on what to offer, but you must be the one to decide what you feel comfortable with.
“The market conditions seem to be stable as of February 2019 but are leveling out. The value of homes seem to be staying the same. I am seeing more foreclosures and short sales. I anticipate we will be able to declare that we have a Buyer’s Market in 2020 or 2021.”
Repairs/improvements
You know your home, but your agent wants to position your home to obtain the best price. What may have worked for you and your family might not be what works for potential buyers.
Do you have a spare room that has become a landing place for miscellaneous items? Tidy it up, get rid of clutter, and add a purpose to the space. According to Houzz, "Each room should have a clearly defined purpose" when preparing your home for selling. You want to make the home camera-ready, and make it seem like no one lives. This is always a difficult task for everyone!
Always be sure to ask your agent to explain anything that you need more clarification on. Be sure to ask for data and proof that supports their advice. This is your home, your money and you deserve to understand what is going on during your transaction! If you think something sounds off, ask about it. A trustworthy agent will provide you with evidence to assure you that you are making smart decisions.
At Gray Fox Real Estate, due diligence is a service we provide all clients. Below, we explain why we focus on due diligence and why you should value it in your real estate agent.
At Gray Fox Real Estate, we provide comprehensive due diligence services to our clients. This means that we work hard to discover all material defects and facts that may affect the value of the property. In Maine, the burden of risk analysis falls on the Buyers due to “caveat emptor” or “Let the buyer beware.” Therefore, excellent due diligence services in a real estate transaction are crucially important. Our staff is trained to use a proprietary due diligence system. This is an extensive and time-consuming process, but well-worth the results. Our clients can be confident when making one of the largest financial decisions of their lives.
This four bedroom, two bath home in Saco boasts a large backyard. Conveniently located close toThornton Academy, Main Street, I-95 and within walking distance to so much that Saco has to offer!
Times are changing! New kinds of living arrangements are becoming more popular. In the past, many Americans had goals of growing up, getting married, buying a nice house, and having kids. Now, not everyone shares the same ideal. In addition, many families cannot afford to have a stay-at-home parent and purchase and maintain a home. According to the American Psychology Association, 40-50% of marriages end in divorce which means that households are commonly supported by inky one income causing even more financial strain to support a "traditional lifestyle."
Many people are forming intentional communities to solve some of these problems. An intentional community is a new living arrangement that focuses on the building and supporting of communities and "meeting the needs of all people and the planet, and [those communities] must be available, understood, appreciated, and developed"(ic.org). Intentional communities are not just for "non-traditional" families. There are five different community types, like ecovillages, that focus on ecologic improvement, communes that share incomes, and cohousing, that include private housing with shared common spaces, and each community has different values and expectations.
This new concept raises many questions. Will intentional communities eventually become a normal and common option for individuals and families? Will there be an economic effect if it does? According to ic.org, there are already thousands of communities established and many developing, including some here in Maine.
So, would you live in one of these communities? We want to know what you think!
Enjoy more free time with a minimalist lifestyle in this charming post-WWII Cape. Situated on a double lot perfect for a garden. Located on a quiet dead end street. The unfinished attic space would be perfect for storage. The dry basement could be finished. Inexpensive to heat. They don't make 'em like this anymore. This is small living in style! Ride your bike to Portland, or hop on the Green Trail. You are also only minutes to beaches! Don't miss this one!
Ralph Graceffa has experience in the mortgage industry since 2004. After managing another mortgage firm branch, Ralph easily transitioned to Residential Mortgage Services in 2008. Here, Ralph has become a trusted Loan Officer serving both Maine and Massachusetts clients.
Ralph studied at Brandeis University, earning his bachelors degree in comparative literature. In his spare time, Ralph enjoys composing music, working out, and spending time with his twin daughters, Carmella and Lucia.
““I come from a family of teachers. I want to educate my clients. I want to show them how to best utilize the programs that exist in today’s market. ”
What are your specialties?
Mortgage planning. Whether you are a first-time buyer or a seasoned investor, customizing your mortgage so that it best serves your long term goals is something that I have always believed in. With the ability to choose specific rate/cost/down payment options, we can truly work together to insure the most efficient approach. I also have worked a lot with multi units and understand the many nuances that drive the qualifying process for 2-4 unit buildings!
Tips for first-time buyers?
Don’t be afraid to ask questions- education is key. Get Pre-Approved so that you are working in tandem with your real estate agent and your lender. Having real time numbers for the properties you are interested in will really help as you compare your options.
What’s something you think buyers should know about the market now?
Mortgage guidelines have eased over the past few years. After the housing collapse in 2007, we saw the pendulum swing hard and fast in the direction of risk aversion. Banks weren’t taking any chances and as a result, the process of obtaining a mortgage was often deemed “painful”. I’m happy to say that as we sit here in 2019, the mortgage process is far more reasonable than it was then. This is allowing more and more buyers to qualify, which in turn is keeping the market moving in a safe and calculated way.
What makes you different than other lenders?
The way I think about the overall picture. I really try to put myself in my client’s shoes. Then, once I have a thorough understanding of their situation, I present the options that I think would offer the most benefit -both short and long term! This personal connection is important to me and in my opinion is essential to offering the best guidance throughout the process.
Contact Ralph
Residential Mortgage Services
207-671-9590
Ralph.Graceffa@rmsmortgage.com
Preparing your home for the real estate market requires you to make choices that can either help to increase your profit or leave you barely breaking even in the end. Some options include hiring a skilled agent, making repairs and upgrades, and staging your home.
“In my opinion, staging a home to set it
apart from others is always valuable.”
Choosing when to stage your home can be tricky because you have to take into consideration the location of the home and the current market. The two types of markets that Realtors refer to are called “a buyer’s market” and “a seller’s market. According to Redfin.com, a buyer’s market is “when the supply (available properties for sale) exceeds demand (the number of buyers seeking to purchase properties)” and a seller’s market is “when demand exceeds supply, or there are more buyers seeking to purchase properties than there are available homes on the market”. In a buyer’s market, having your home staged and taking professional photos can mean the difference between someone clicking past your listing online and clicking the “request showing” button.
But what about staging in our current market?
We are currently in a seller’s market which means houses can fly off the market without much effort, simply because they are in demand. This is where the tough decisions come in. Do you spend the money to stage your home with the knowledge that it could sell as-is?
When asked to share her opinion on staging its value, Polly Cockrill, Gray Fox Real Estate’s Designated Broker and Owner had some valuable insight.
“In my opinion, staging a home to set it apart from others is always valuable. When the home is visually plain and lighting is poor, staging a home is ideal. It is best to try to stage your home yourself and save the money if your home is not in the luxury market. A Realtor can develop a plan with you, but that can be emotionally-trying as well. It can be hard to have your personal effects be subjected to criticism.
Another time that staging can be effective and sensible is in a market or micromarket where the majority of homes are in excellent condition, for example, Cape Elizabeth or Falmouth Foreside. Historically, it has been more popular among luxury homeowners to hire a stager. Luxury homes can have a larger profit margin to absorb the expense of staging and furniture rentals. Not surprisingly, it seems to me that staging luxury homes has become an expectation and standard. This means that staging a luxury home may no longer add the same amount of value that it added in the past. Will staging add any value to luxury homes now? Absolutely, but it is my opinion that it would do so only in relation to the absence of staging. We must always meet or exceed the standard expectations in luxury markets.” ”
Like most real estate transactions, increasing value and monetary return depends on multiple variables like location, current physical state of the home, and the competition in the area. If you are unsure if staging will be an effective tactic in selling your home, ask your agent! They are there to give your their honest opinion and help you get the most out of your transaction.