Real estate information (sales, condos, credit)

[sylviecat]

I am also in NJ, and hoping to be living in Maine very soon. Although I am looking for a house, and not land, I am working with a Realto of whom I think very highly; his firm also deals with a number of land parcels. My sister also worked with him, and purchased her home in Maine through this firm. My cousin, no longer in real estate (and when he was, it was a different firm), recommended him.

If you would care for more info, please feel free to direct message me.

I echo what others have said; there is no substitute for being there--though I did not get the impression that you planned to buy w/o visiting.

Good luck, and i hope it works out for you.

[elston]

My experience with a Buyer's Agent was totally satisfactory and I don't know how we could have done it without him.

He was invaluable as we were out of state (California) and there were ongoing negotiations with the builder about the "punch list" of things to be done prior to closing...and negotiations regarding the price. He knew the neighborhoods we were interested in from Cumberland, Standish, Buxton, Saco, Gorham, Scarborough....and t he ups and downs of the neighborhoods.

Like I say we found the buyer's agent to be invaluable.

[rossco17]

I have bought 2 houses in my lifetime and worked with an agent who represented me, the buyer, both times. In both instances the agent was recommended to me by a friend whom i trusted.

I completely agree that buying property anywhere requires legwork of your own: drive around and get familiar with the areas, talk with people who know the true answers to your questions, look at recently sold like-properties in the area, and much more.

The agents i worked with helped identify available properties, previewed them for me after she got a good idea as to what i was looking for, told me 'we can do better' when i thought i had found a house (and she was certainly right!), provided me with school, community, and neighborhood information, gave me her honest advice when i sought it, negotiated on my behalf on price and other details of the contract, coordinated the home inspection and radon, negotiated on my behalf on repairs, obtained quotes for said repairs from a contractor, gave references for lenders and home insurance companies, coordinated the closing, called utility companies and put them in my name, and probably more that i'm forgetting.

Could i have done it without an agent? probably. but why would I? It didn't cost me anything and probably saved me money and headaches.

[WhoFanMe]

Originally Posted by rossco17

I have bought 2 houses in my lifetime and worked with an agent who represented me, the buyer, both times. In both instances the agent was recommended to me by a friend whom i trusted.

I completely agree that buying property anywhere requires legwork of your own: drive around and get familiar with the areas, talk with people who know the true answers to your questions, look at recently sold like-properties in the area, and much more.

The agents i worked with helped identify available properties, previewed them for me after she got a good idea as to what i was looking for, told me 'we can do better' when i thought i had found a house (and she was certainly right!), provided me with school, community, and neighborhood information, gave me her honest advice when i sought it, negotiated on my behalf on price and other details of the contract, coordinated the home inspection and radon, negotiated on my behalf on repairs, obtained quotes for said repairs from a contractor, gave references for lenders and home insurance companies, coordinated the closing, called utility companies and put them in my name, and probably more that i'm forgetting.

Could i have done it without an agent? probably. but why would I? It didn't cost me anything and probably saved me money and headaches.

Well said, any constructive relationship requires effort on both sides.

[maine4.us]

I think it is largely up to the individual as how to purchase land. A realtor is a middle man, and that is not an insult. The purpose of a realtor is to serve clients and to collect a fee. There is nothing wrong with that either. You pay for what you want, and I see both sides to this. Once either side of a transaction engages a realtor, then the other party is locked into dealing with that realtor, whether they like it or not. I see Forest's point and WFM also. Forest is extremely competent, and he sees no need for a realtor and probably does not need one, period. People who are not that competent and know they aren't competent need to use a realtor. It depends on who the individual is and their level of expertise. I see quite a few land for sale by owner signs in Maine. Whether the majority of property is or is not listed is a moot point. NLM you have a tender spot when someone treads on your lively hood and I can't blame you. We are all sensitive about how we make a decent wage. I don't think Forest has a high opinion of realtors and he probably has his reasons. I see realtors as a necessary evil, right up there with attorneys. But, that doesn't mean I don't like them.

[ClownShoes]

Originally Posted by Northern Maine Land Man

When you get that far south in Maine you run into zoning. (We have no zoning here.) Make sure you can build what you want, bring a mobile home, raise chickens, shoot in the back yard, have a horse; whatever you want to do. Find out before you buy.

Nice!

[WhoFanMe]

Originally Posted by maine4.us

I think it is largely up to the individual as how to purchase land. A realtor is a middle man, and that is not an insult. The purpose of a realtor is to serve clients and to collect a fee. There is nothing wrong with that either. You pay for what you want, and I see both sides to this. Once either side of a transaction engages a realtor, then the other party is locked into dealing with that realtor, whether they like it or not. I see Forest's point and WFM also. Forest is extremely competent, and he sees no need for a realtor and probably does not need one, period. People who are not that competent and know they aren't competent need to use a realtor. It depends on who the individual is and their level of expertise. I see quite a few land for sale by owner signs in Maine. Whether the majority of property is or is not listed is a moot point. NLM you have a tender spot when someone treads on your lively hood and I can't blame you. We are all sensitive about how we make a decent wage. I don't think Forest has a high opinion of realtors and he probably has his reasons. I see realtors as a necessary evil, right up there with attorneys. But, that doesn't mean I don't like them.

Well said maine4.us and I agree with everything you say. Not everybody needs or wants to use a real estate agent and that's not why I posted. In fact I have a problem with some less than competent real estate agents that make my job more difficult. However, when somebody repeatedly posts exagerations and lies because they have an agenda, I am going to be there to set the record straight.

[Nor'Eastah]

Originally Posted by WhoFanMe

However, when somebody repeatedly posts exagerations and lies because they have an agenda, I am going to be there to set the record straight.

Forest is just voicing his opinion; I would not characterize all that he posts as "exaggerations and lies". Likewise, I do not feel that the unfortunate flooding of this past spring was related to his purchasing choices. Many, many people were affected by the flooding, and no doubt most of them had used realtors to acquire their property. That was a 100-year event, and no realtor anywhere could have predicted it.

If WFM readily admits that many parcels of Maine land are "overpriced" and that a lot of them are sitting there unsold, then what are realtors doing to remedy this situation? They should be just as honest with the sellers about facing reality, as they are with buyers - if they are. If a property sits there for 6 mos to a year and gets no realistic offers, is a realtor rendering a "service" by continuing to carry that parcel at that price?

We, too, have been looking over the internet listings of Maine properties, and find the prices to be far too high given the remote location, heating costs, etc. My best guess is that realtors who encouraged folks from away to "finance" their land when it was purchased, either through owner financing or taking out equity in their other homes, resulted in a group of sellers who cannot afford to unload their properties at much less than they paid. The fact is, lots of these "financed" people (who should have paid cash or waited till they could), will now find themselves involved in foreclosure or outright default. The prices they want are reflective of the real estate "boom", not the deflating bubble now upon us. Buyer beware!

Meanwhile, we see no problem with waiting it out while the chips continue to fall where they may. We know that a lot of those land parcels up there have been financed one way or another, sometimes without the knowledge of the realtor(s) involved. No professional service is rendered by trying to pass on a too-high price to a new buyer. These high-flyin' investors who just had to have a Maine parcel for a camp will be forced to sell out to recoup just a portion of their "investments". Forest literally sees the forests for the trees here! So we will sit back and wait...

[Submariner]

Originally Posted by WhoFanMe

Well said maine4.us and I agree with everything you say. Not everybody needs or wants to use a real estate agent and that's not why I posted. In fact I have a problem with some less than competent real estate agents that make my job more difficult. However, when somebody repeatedly posts exagerations and lies because they have an agenda, I am going to be there to set the record straight.

Ditto

I could not agree more.

Well said

[Submariner]

Originally Posted by Nor'Eastah

Forest is just voicing his opinion; I would not characterize all that he posts as "exaggerations and lies". Likewise, I do not feel that the unfortunate flooding of this past spring was related to his purchasing choices. Many, many people were affected by the flooding, and no doubt most of them had used realtors to acquire their property. That was a 100-year event, and no realtor anywhere could have predicted it.

It never occurred to me to blame the flooding on anyone.

I spoke with the LURC guy in Medway about where the flood plain is, and I checked the flood plain maps myself; as I did not entirely trust LURC. That is the best knowledge that is simply available. And we all know that from time to time the water goes up.

... If WFM readily admits that many parcels of Maine land are "overpriced" and that a lot of them are sitting there unsold, then what are realtors doing to remedy this situation? They should be just as honest with the sellers about facing reality, as they are with buyers - if they are. If a property sits there for 6 mos to a year and gets no realistic offers, is a realtor rendering a "service" by continuing to carry that parcel at that price?

In our culture we have metaphors, stereotypes, terms that draw an image of behavior. These metaphors were not developed over-night. They were long in developing and well earned.

Horse-traders, used-car salesmen, snake oil salesmen, realtors. These are all commonly used metaphors in our language which each represent a nearly identical image.

Someone who must focus energy on convincing others that they are honest and ethical. When in reality, many of these professions are otherwise.

When I point out the obvious however, I am accused of lying?

Is this an exaggeration?

Is this a lie?

Let your own vocabulary, your own dictionary decide.

As you point out "They should be just as honest with the sellers about facing reality",

Alas I am accused of being less than honest, hmm.

... We, too, have been looking over the internet listings of Maine properties, and find the prices to be far too high given the remote location, heating costs, etc.

I would think that going to the location, speaking with locals, they will be friendly and guide you to a neighbor who is considering selling his property. All for lower prices than are listed on the MLS.

Such is often the way of things in Maine.

... No professional service is rendered by trying to pass on a too-high price to a new buyer.

Well said