Thank you for joining us here at our weekly Maine Real Estate Choice blog. We are physically located in the heart of the Maine lakes region at the intersection of routes 302 and 11 in Naples, Maine.
This past week saw another .16 basis points reduction in the 30 year mortgage rate, and this is good for both sellers and buyers alike. This matters because whether you are investing in and purchasing a new home or property, or, if you have a home or property that you are considering selling at this time, the cost for all buyers who are financing and not paying cash – this is the majority of sales – has dropped a bit compared to last week. This helps everyone, and we are very pleased that properties are indeed a great investment with property values consistently continuing to increase at a pace that now appears to be more sustainable, compared to the rapid increases in values we have seen in recent years. There really is no better time than right now to give us a call. Let’s talk about what it is, that you would like to discuss and accomplish with your real estate needs. Our goal is for you to be pleased with the experience and professionalism of our team.
As to cash transactions in real estate, one year ago the national average of the percentage of real estate transactions that were completed with cash versus purchased with a financed mortgage, was 28%. Again that is a national average with many regions and locations, especially Florida and metro areas, having a higher percentage. Thank you again for your time, stay warm, and we are glad that the worst of the recent artic cold snap here in the Maine lakes region seems to be behind us. Make it a great week!