When does the "spring" housing market start to open up? (Scarborough: real estate, lender)

[kaby]

just wondering if anyone can help...

I want to be in a new house in June (Falmouth is the town we are concentrating on)- we are moving from NY to MAINE!!!!! (YES, we are excited!!!)

I don't want to jump and start to bid on something now if we haven't found a house that I LOVE...I am afraid if I wait til Spring it will be too late, to be ready to move in June.

Is it not until after "mud season" that the market starts to open up?

Will that be too late to finalize/close in June?

I want to time things right with a move after the kids are done with school and still be able to enjoy my summer in Maine.

It seems that not that many home are on the market right now.

Does anyone have any insight/sugggestions?

Thanks!

[Northern Maine Land Man]

There is a good inventory available right now in that part of Maine.

Zoning rules in Falmouth prohibit "mud time" in town.

[kaby]

Thanks Northern Maine Land Man for your response...however,not sure I understand what you mean by "Zoning rules in Falmouth prohibit "mud time" in town."

[Boomerang]

Originally Posted by kaby

Thanks Northern Maine Land Man for your response...however,not sure I understand what you mean by "Zoning rules in Falmouth prohibit "mud time" in town."

That's Maine humor for you

[mainebrokerman]

hiya kaby, welcme to maine (hopefully soon)

real estate is local, meaning, some regions/sectors are very active, some are quiet,
i do believe its a buyers market, ,,
if thier isnt much inventory in falmouth, try yarmouth, or cumberland, or freeport.

i think you are wise looking now, researching, whats on the market.
look on realtor.com, portland press herald (newspaper), and craiglist,
you can also call a couple brokers in the area, and have them do the searching for you, ,,tell them what you are looking for and they can send you whats on the market (for free) they know the area,,,whats on the market, knowledge of land and developments, and can answer questions about school systems, etc.

good luck!!

and yes, there is usually a bump in activity in the spring,,,some folks just refuse to move in the wintertime,,,but again, it is a buyers market!!

[BacktoNE]

Both houses that we've sold were under contract in March and closed in April. It seems to start getting really busy the last week in February and then continues through May.

[amyd83]

We are moving from NJ to Scarborough and our agent told us that closings typically happen in 30-45 days. In NY and NJ we are used to 90+ day escrows usually due to attorneys holding up the works! Up there - no lawyers just the broker and title company...it moves a lot faster up there. You're OK on time. Good luck to you!

[WhoFanMe]

30 days is comfortable. I've squeezed some through sooner, but everything needs to line up correctly, i.e. inspections and re-negotiations, good lender and title company and a willingness from both parties to proceed to the end result.

[WhoFanMe]

As far as the "spring market" goes, many people take their homes off the market during the holidays because they don't want people through their homes during that time. Many are also under the impression that the "spring market" is always better than the "fall/winter" market, which might be true in an appreciating market, but that's not what we have in Southern Maine. There will be more to choose from shortly, as always, have your agent run aborption report studies in your price range to give you an idea on how much inventory is available and let that guide you in your home selection as well as your negotiations.

[K-Luv]

On Jan 3rd, 2008 I drove past a realtor whom had a sign out front that read, "0 houses sold this year". Or something to that effect. Four or five days ago I drove past it again and the sign read 68 houses sold.

Judging by that I say that now is a good time to start looking.