Buying a Home in 2012

It appears that the long-suffering housing market may finally be stirring with fresh activity. For the foreseeable future, buyers will be able to benefit from low mortgage rates, large inventory and prices that appear to have stabilized (removing the fear that values would be lower six months from now). In the coming months, sellers with appropriately priced homes should see increased traffic and offers.

Much of my activity late last year and into this year has been with year-round, first-time buyers. I have been waiting for this type of buyer for several years and see it as a very positive indicator for several reasons. The biggest factor, I believe, is that buyers are more comfortable with their job security. Mortgage companies and banks also seem to be a little more interested in making residential loans. Perhaps they are now realizing that underwriting standards became too strict (see DSNEWS.com story).

Still lagging, and it is understandable, is the second-home market. There have been buyers looking for bargains but nothing on a steady basis and I think it will be another six-to-twelve months before there is a noticeable increase in activity.

Another local indicator is that our bookings for 2012 Vacation Rentals are up from last year. That suggests to me that if people are going to spend a considerable amount for a family vacation, then they feel comfortable about the future.

To keep in touch with local and national housing activity, please visit my monthly newsletter. For more information about the Lovell Village home pictured above, please visit our virtual tour. And remember to click on KezarRealty to view all of our listings as well as all properties available in Maine!

About kezarlife

I am a year-round resident of Lovell, owner of Kezar Realty (KezarRealty.com) and enjoy the variety of experiences that living in western Maine offers. Numerous lakes, ponds and mountains provide the opportunity to enjoy the outdoors every day. Married to Rondi we have two children. Ben is a Sergeant in the US Marines and with his wife Cassandra, son Jackson and daughter Reagan, live in Virginia. Ben's most recent deployment was to Afghanistan. Anna is a graduate of Fryeburg Academy, has studied in Beijing, China as well as Taiwan and now attends Hunter College in NYC where she is enrolled in their Chinese Flagship Program. I am active in many local organizations including the Charlotte Hobbs Memorial Library, Lovell Historical Society, Old Home Days, Lovell 5k Run, the Gasping Gobbler, the Tour de Lovell and the Brick Church for the Performing Arts. I also serve as President-elect of the Western Maine Board of Realtors. Please visit www.KezarRealty.com for up-to-date real estate listings and information on western Maine! Stan Tupaj
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2 Responses to Buying a Home in 2012

  1. Jungle Jim Rowe says:

    My son, Keith, is a good example of what you say. He has made an offer on low priced house in Columbus, Ohio. By low, I mean around $50K . At 39, he will be a first time home owner.
    This is the listing:http://idx2004004400.cbrmls.columbusrealtors.com/DotNet/Pub/EmailView.aspx?r=1500600157&s=CBR&t=CBR

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