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Home Buying in Portland : Real Estate Advice

  • All88
  • Local Info6
  • Home Buying26
  • Home Selling0
  • Market Conditions2

Activity 28
Mon Apr 8, 2013
Jeffrey Campbell answered:
shoot if you travel outside of Portland a little bit you can get a great deal for 500k... I just inspected a fantastic home in Bingham with over 100 acres and a guest house... it was rural yes (90 minutes from Augusta) but fantastic views... new construction. 300k ... more
0 votes 9 answers Share Flag
Mon Apr 8, 2013
Murphy Team answered:
There are options for commercial/living space or you could choose to have separate spaces. Please give us a call for some specifics. I have one place in mind that is not on the market at this tme, but could be. May be over $400,000 for ground floor commercial space and some apartments. Is this in your range? Murphy Team at Harborview (207) 712-4796 ... more
0 votes 3 answers Share Flag
Mon Apr 8, 2013
Doug Schauf answered:

That is a great plan. I have a background in construction and remodeling and would be happy to sit down and chat more about your plans and ideas.

Finding the right builder is key when talking about green/energy efficient homes. You want to make sure they have a similar commitment to "green" as you.

Depending on your budget and what type of financing you get there are a lot of options.

Give me a call or email anytime.

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0 votes 5 answers Share Flag
Fri Sep 6, 2013
Murphy Team answered:

That is a difficult question to answer since people move to Maine (and Portland specifically) because it is a safe place to live by most measurable standards. We show property all over the city to a varied array of clients and have sold in virtually every neighborhood. Anywhere "downtown" would, in my opinion, be safe.

Let us know your specific criteria and we can send you active listing sheets to meet your specifications. Hope to hear from you..
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0 votes 7 answers Share Flag
Fri Sep 14, 2012
Marie Sullivan answered:
Portland has several different neighborhoods, all with their own unique benefits. The most desirable would depend on what you are looking for. The 'North Deering' area is desirable with many quiet streets, shopping, businesses, close to exit 53 on I95. The 'East End', home of the Eastern Promenade has beautiful views and access to the ocean and back bay, with houses close together, many multi-units. The 'West End' is full of beautiful historical homes. The list goes on. Let's chat. ... more
0 votes 8 answers Share Flag
Mon Aug 6, 2012
Dina Skrabalak answered:
I have a few listings in a great building on Pine Street (two 1-bdrs and one 2-bdr). I work the condo market quite a bit and I'm open to meeting up with you and sharing my thoughts on the subject of leasing to own. Message me if you're interested. ... more
0 votes 1 answer Share Flag
Thu Jul 26, 2012
Ryan Rich answered:
In this market you bet it does-there are some risks involved but if done correctly this can def. open up the property to more potential buyers. Send me an e-mail and we can chat further if you'd like.
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Mon Apr 30, 2012
Doug Schauf answered:
Happy to help anyway I can... Call or email me anytime.

0 votes 4 answers Share Flag
Tue Feb 7, 2012
Paul Diou answered:
Hi there: I believe that you need 3.5% of the entire loan amount : not just the sales price. I would check with your lender to make sure but that is my understanding and I help my buyer clients with these types of sales all of the time. Your lender should be able to answer the question for you within seconds if you can get them on the phone or face to face. I hope that info helps, if you are in need of a buyers agent to help you through the process feel free to reach out to me, I am the Broker/Owner of Maine Realty LLC located in Portland Maine. 207-671-6604


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0 votes 4 answers Share Flag
Tue Mar 19, 2013
Charlene Hamiwka answered:
I actually focus on this type of property, helping people who don't know exactly where they want to be, but know they want a particular type of home.. I have lived and worked all over the state and can help guide you to the location that will suit you best. There are lots of lakes, but not all areas/lakes will have the attributes you might want. If you want to send me an email with your contact information, I would be happy to give you a call to discuss what might work best for you.
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0 votes 11 answers Share Flag
Thu Apr 21, 2011
Dan Tabit answered:
You sound ready; based on your last line, "I really feel that I am ready..." and you know yourself better than I do, so I'll assume you're ready.
As for qualifying, you are very close if not there already. Before you pay off the collections, wait! Believe it or not, paying off old collections can lower your score and reduce your odds of getting approved and for a good rate.
I you were in my market we'd start by looking at your credit report and seeing if we could improve your scores by paying down some of your debt. You'll need 3.5% down for an FHA loan. If your purchase price is $100k or less, than you'll have some money for debt reduction and or reserves (savings after your down payment).
Start by meeting with a local lender. Ask if they do any credit repair and then see if you can get preapproved.
Good luck in your home shopping.
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0 votes 18 answers Share Flag
Tue Feb 22, 2011
Murphy Team answered:
We would be delighted to show this to you. What time would you like to see it?
0 votes 7 answers Share Flag
Mon Jan 17, 2011
Rick Beal answered:
Hello Aconway04,

I'm sure a loan officer will answer soon and they will know definitively, but it's my understanding that the down payment amount and interest rate are very different for primary residences and investment property. At closing you will be asked (and sign a document) which states what your intentions are with the property you are buying. Good luck. ... more
0 votes 8 answers Share Flag
Wed Oct 27, 2010
Rick Beal answered:
Hi Mainegoods, I'm sure a mortgage professional will answer soon, but you will need to read the mortgage (which can be found at the local Registry of Deeds) to make sure it's an assumable mortgage. Many are not. ... more
0 votes 4 answers Share Flag
Thu Jun 3, 2010
Rick Beal answered:
Hi Ros,

Do you have an MLS number or address?
0 votes 2 answers Share Flag
Sun Dec 6, 2009
Dallas Texas answered:
I am a listing / buyers agent, however in most instances no.

Pre-qualification letter been attached sale offer.

Mortgage broker who represents buyer can't disclose any info. In fact loan officer who represents buyer can't discuss their file with realtor for them. Few disclaimers however files are confidential.

National Featured Realtor and Consultant, Texas Mortgage Loan Officer, Credit Repair Lecturer
Follow me on Twitter:
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0 votes 7 answers Share Flag
Mon Feb 23, 2015
Joan Braunschweiger answered:
In a short sale, the lender makes an agreement wih the seller to accept less than what is owed on the mortgage.
This means that market price has fallen below what is owed.
As a buyer, you are still expected to pay market price. The seller entertains all offers and it is up to the lender to decide whether the offer is accepted or not.
Short sales are often a precurser to foreclosure. The difference is that in a short sale, the house is still owned by the seller, but offers are approved(or rejected) by the lender. In a foreclosure, the property is owned by the lender.
Hope this helps.
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0 votes 13 answers Share Flag
Thu Aug 27, 2009
Voices Member answered:

This link will tax you to the IRS site which explains the Tax Credit and has a Q&A section, plus you can view/download the Forms you will need to fill out to file.,,id=206293,00.html

I believe the response is Yes as the requirement is that it be your Full-Time Residence

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0 votes 6 answers Share Flag
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