The real estate market in Maine is looking up. According to the Maine Association of Realtors, the sale of homes has increased as well as the median home sale price over the past few months.
All of the counties in Maine have had an increase in home sales over the past few months. Overall, the Maine Association of Realtors says; home sales have increased by twenty percent between June and August in the state. I spoke with Rick Castonguay the President of Big Bear Real Estate, and Bill Levasseur the designated broker at Key Reality about the housing market in Presque Isle. Both said the real estate market in Presque Isle is improving, and looking better than it has for the past few years. It is not as prosperous as the coastal locations, but Presque Isle has a lot to offer.
Realtors say now is a great time to buy a house and Presque Isle is a good place to do that.
Castonguay says, “This market that we have right now with the inventory that’s in the Presque Isle area, it’s a fantastic time for anyone who wants to buy a home. Interest rates are still low, financing is a little easier than it was a couple years ago.”
Levasseur says, “It is a good time to buy, there’s so much available, good interest rates, and a lot of products from lenders right now for first time buyers.”
Levasseur says they have an active market in Presque Isle. They have had a decent year so far and expect it to go pretty well into the fall. He says things really slow down after Thanksgiving and into December. Castonguay says many people like to move to Presque Isle for many reasons including the laid back lifestyle.
Castonguay says, “Low crime, laid back lifestyle, slow traffic, no traffic, sportsman. It’s a really nice place to live. We’ve had many many people they’ll come up and look at what we’ve got and what’s going on, and they may leave and then they’ll come back and buy.”
Levasseur adds that buying a home in Presque Isle is a good investment.
Levasseur says, “There’s good resale in Presque Isle, it’s an active market. It seems like a home investment is a good thing. Property values do increase. So purchasing a home in the Presque Isle area you’ll find that you’ll gain some equity.”
Levasseur says some tips if you are thinking of buying a house include making a wish list of everything you want in a home, and do some research. If you are selling a house, make sure it is clean and make small repairs so it is ready and more appealing to a potential buyer. If you are thinking of buying or selling a house, both Castonguay and Levasseur believe the housing market in Presque Isle will continue to improve.