With the changes in our lifestyles over the last year, the real estate market went crazy. It is due to several reasons. As we all have spent a lot more time at home, and in some cases have been at home 24/7. Clearly, an impulse to move to uncrowded and safer places stimulated the housing hustle. Across the nation, people sold their homes and headed to Maine and certain other states.
With the Internet, more and more people are working from home and the medical crisis encouraged employers to offer work-from-home options for their employees. Prices for homes have escalated since. In my 32 years selling real estate, this has never happened before. Multiple offers were rare in central Maine. In more urban areas such as Portland and Bangor, multiple offers were more often seen but still not common.
Now, for quality homes in good to excellent condition, the market is hot. These homes are being scooped up in days. Also, the homes are often selling for way over the listed prices and for cash in many cases. It has become difficult for working people that need a mortgage to make a purchase to compete with this influx of cash buyers that are willing to pay more to get the house they want.
There are strategies that work. Negotiations can be sticky. If you are in the market to buy a house, or you are ready to sell, call a North Country Properties agent. In this market there is an art to the deal – timing can be everything. So don’t wait.