Maine Real Estate For Sale !

head_left_image

Sweeping One Size Generalities, Statements Don't Fit The Real Estate Market.

    

The media has a tendency to report for the nation at large. 

Efforts to made sweeping statements that houlton maine paradegeneralize and apply for the entire country distort reality in many areas. There are so many extremes, unique markets within that huge nation.

     With 50 states, broad brush statements that reflect the nation are not accurate and mislead. It boils down to not being like that everywhere and a feeling of disenfranchisement can permeate. In one blog post I read today on Active Rain it's indicated that one out of four homes is worth less than is owed on the four walls.

     Boy, that is not a statement that applies to Northern Maine. Aroostook County did not have the foreclosure rates that happened in say a Detroit Michigan or parts of Florida. The Maine banks were making conservative, quality loans BEFORE the recession that hit other areas. Many homes are paid for. Not mortgaged to the hilt. Not saddled with grotesque, ready to pop at the seams equity lines.

Folks are not way over extended. People don't live day to day 20 minutes away from financial ruin. They have untapped equity lines with cobwebs and dust from lack of use. The lines set up for peace of mind if disaster hit but never utilized because savings are in place. Their standard of living below their means so funds are squirreled away for a rainy day. And reading that one in four statistic can send an alarm thru an area where the real estate air raid siren does not need to be activated...and does not apply. But think of the anxiety caused because the panic headlines are broadcast anyway.

It used to be the headlines of upside down folks in other states were a concern, but not a worry for you personally. You thought "I'm in okay shape" if everything went black for a spell. You were brought up to plan for it, expect it, anticipate the ups and downs. But now we all have deeper jitters, worries because all of us will have to bail out the folks that did not live within their means. Those that never learned a life lesson on picking yourself up by the bootstraps, planning for set backs. Or taking care of your family without expectation the government will catch me, help me, fix it. Or that I am entitled, deserve the best others can provide with a permanent out stretched hand playing "beat the buffet" that others put on. Folks that brought no covered dish to the pot luck supper. Just arrived and stayed long with a large, bottomless appetite. It's the Titanic, late at night and have you taken a life boat count and done the math if an iceberg happens by the bow? Not planning for the unexpected, the unpleasant does not make it go away or not happen.

    The Maine real estate house prices are lower than many other areas which helps. That average figure for a price tag in Northern Maine is in the $80,000 bracket.

Everything is so much lower, reasonable, down to earth and affordable here in Maine.

The ability to save money, to say no to everything going is another part of the equation. Getting the home paid for is a daily goal. There is an awareness that owing money is not fun. Not something you want to burden your kids with if something happened to your job or health. And it made me think further that the same logic of the "one in four" Americans living in homes worth less than is owed, means those same folks are upside down for reasons other than situations like the auto workers face, or our friends in Florida that took a major real estate set back, hit. Maybe that other household purchases are made are in the same unbalanced state. The cars they drive are worth less than is owed. Their high school kids drive better cars than mom and dad with seven year loans on them to prove what? The money saved for their maine moose catkid's college accounts is less than it will cost, and on and on.

    It may be not just be real estate market oriented but the way some follksrun their financial lives. If the average American, another media headline, is carrying $17,000 for credit card debt, maybe the economy spotlights the loose financial reins on the household spending. The recession is the smypton...the poor personal spending habits or addiction is the bigger illness, the cause of the cracks, aches, pains. I remember reading the Bearstein Bears books to the four kids when they were little and one in particular called "The Galloping Gimmees". Maybe not everyone else read that one, remembered the lessons of over indulgence and paying the piper if drunken sailor spending becomes a daily occurrenceor need, compulsion. Maybe living in Maine meant our outdoor recreation all four seasons was the fun were did not have to pay for living in "Vacationland".  Money was not the end all, in shorter supply and handled carefully is the lesson we learned, saw demonstrated.

     When you grew up, do you remember parents being on the brink of financial disaster? Was the money brought in to the household coffers spent as fast as it came in? Beyond the income stream? Were your parents conservative and did you feel secure that there were savings and you were aware that a mortgage burning party was a goal you saw worked at, achieved?

Maine REALTOR Andrew Mooers

info@mooersrealty.com | 207.532.6573

Log on www.mooersrealty.com   www.ownmainerealestate.com

www.youtube.com/mooersrealty

youtube icon chicklet,mooers realty youtube videos  twtter icon chicklet,mooers realty twitter  flickr icon chicklet,mooes realty flickr photostream  facebook icon chicklet,mooers realty facebook page  linkedin icon chicklet,mooers realty linkedin activerain blog rss feed, feed icon mooers chicklet blogger icon chicklet,mooers realty blogger site wordpress icon chicklet,meinmaine blog digg icon chicklet,digg mooers realty  google ning chicklet   mooers realty tumblr site  maine listings real estate logopinterest logo chicklet

 

 

 

Comment balloon 40 commentsAndrew Mooers | 207.532.6573 • November 25 2009 06:20AM

Comments

If I had a nickel for everytime someone quoted a media statistic....and applied to their neighborhood...I could buy their neighborhood...great blog !

Posted by Sally K. & David L. Hanson, WI Real Estate Agents - Luxury - Divorce (EXP Realty 414-525-0563) over 10 years ago

If you want national stats, read national news sources, the NAR site.  If one wants local stats, contact a local agent, we have access to them.

 

Posted by Lenn Harley, Real Estate Broker - Virginia & Maryland (Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate) over 10 years ago

So right. It's like a suit...if you pull one of the rack..the shoulders may fit, the sleeves are too long, or it is loose or too tight at the waist. The local agent custom mades the local snapshot of the community, the market and sums it up accurate for that area he serves, is actively serving his home town and know the pulse of real time happenings there. Like a custom made suit...geared and tailored for that local area.

Posted by Andrew Mooers | 207.532.6573, Northern Maine Real Estate-Aroostook County Broker (MOOERS REALTY) over 10 years ago

Andy, great post and oh so true! And by the way, that is one great photo of the moose and the cat!

Posted by Andrea Swiedler, Realtor, Southern Litchfield County CT (Berkshire Hathaway HomeServices New England Properties) over 10 years ago

Andrew:

You are so right about this and Maine is very different than many of the other states, having a slower paced lifestyle and people actually living within their means.

Since all real estate is local, when someone writes about a national statistic they should preface it with the word "nationally." 

Posted by Claudette Millette, Buyer, Broker - Metrowest Mass (The Buyers' Counsel) over 10 years ago

fiscal responsibility, what an interesting concept. do you think anyone heard that!

Posted by Jay Beckingham, Seniors ROCK! (SWBC MOrtgage) over 10 years ago

Andrew, I had a customer drop in yesterday and say, I'm looking for a foreclosure "deal". I said I'm sure there are some closer to the city, but not here, not at all, and not looking like things will change for the worse anytime soon "Sorry". My second home market is made up of people who can afford multiple property ownership and the economy doesn't seem to be affecting this population.

Posted by Steve Loynd, 800-926-5653, White Mountains NH ( Alpine Lakes Real Estate Inc., ) over 10 years ago

I agree with you 100%. In Poinciana, FL the real estate market is completely different than in Davenport, FL. They are only 20 miles apart. How can things be the same in different state? No way.

Posted by Nathan Tutas, Your Central Florida Real Estate Expert (Tutas Towne Realty, Inc.) over 10 years ago

I agree with Nathan.  In cities, you don't have to go 20 miles like in FL, you just have to go a few blocks, that's how different prices/foreclosures can be.

Did someone mention fiscal responsibility?  Look here:  http://www.youtube.com/watch?v=fY79KbCptTo

 

Scott Miller, Realty Associates, Boca Raton, FL

Posted by Scott Miller, ifoundyourhome.com (Best Connections Realty) over 10 years ago

Nathan, I agree.  We are in the Phoenix area of AZ and its different from suberb to suberb.  It's nice to know the "overall" statistics though to get a feel for the nation.  Thanks for the post.

Posted by Joyce Thomas, Your Home Sold Guaranteed! (The Thomas Group Brokered by eXp Realty) over 10 years ago

Andrew, real estate is so local -- it can vary even within zip codes here! I hate wide spread statistics -- they mean NOTHING!!! Great post!

Posted by Marney Kirk, Towson, Maryland Real Estate (Cummings & Co. Realtors) over 10 years ago

I agree Fort Collins has not had a high forclosure rate.

Posted by Terri Onigkeit, GRI (Keller Williams of Northern Colorado) over 10 years ago

Nathan makes a good point...Florida real estate or Michigan real estate...if you repeated what the media hammered away at mercilessly you would think the entire state is a heart beat away from EVERYONE going under...that everyone is 20 minutes away from foreclosure. When the report is "leading sources say" I want to know did they sample the entire state or just pull a snappy headline out of the air in a hurry to hit the presses, the hourly newscast? Does anyone ever follow up to see if that report is accurate..even if it is entertaining or flashy?

Posted by Andrew Mooers | 207.532.6573, Northern Maine Real Estate-Aroostook County Broker (MOOERS REALTY) over 10 years ago

It sounds repetitive but every area was not hit the same.  The same is true in the conservative Midwest but still people get the news on the 'national' scene and apply it everywhere.  Good post & glad you pointed out your the area knowledgeable expert.

Posted by Lyn Sims, Schaumburg Real Estate (RE/MAX Suburban) over 10 years ago

I like the post today for sure. The pic of the moose kissing the cat is adorable.  Thanks for getting it out to us.

Patricia/Seacoast NH

Posted by Patricia Aulson, Realtor - Portsmouth NH Homes-Hampton NH Homes (BERKSHIRE HATHAWAY HOME SERVICES Verani Realty NH Real Estate ) over 10 years ago

Many times I hear an agent repeat a gaggle of numbers and they are not able too substantiate the date except to say they got it from the media.

Posted by Lorraine or Loretta Kratz, Certified Negotiation Consultants (Crescent Moon Realty, Inc. & Land N Sea Auctions.) over 10 years ago

Andrew - You are so correct... Real Estate is and has always been Local... I hate the media when they generalize about our industry... I mean it's good to have statistics but where you live is what's important and how your local market is doing... Don't even get me started about fiscal responsibility... Man, you'll open a whole can of worms on that subject... Great Post!

PS: I still want to retire in Maine if that day ever comes...lol I love Maine and have been through Houlton. Love it..:-)

Have a great Holiday!

Posted by Robert Hammerstein, Bergen County NJ Real Estate (Christie's International Real Estate ) over 10 years ago

You are right Robert.  But here is where we do the same thing with smoothing over, generalizing. Many of our real estate ad copy examples are one size fits all. Why? Thrown together, hurried. Or the secretary back at the office gets the listing thrown on her desk, to fend for herself to create an add for the holiday deadline and she has never seen the place. The images for it are scarce or not on line, and a sentence or two of the mls blurp does not give her much to create with. So the ad comes out "Nice ranch in nice neighborhood with nice back yard and nice size rooms and (gasping) all located in a nice area you would really sure as heck be anxious to live in.  The ads can all sound a like and be cookie cutters. I thought all real estate was different like gem stones?

Posted by Andrew Mooers | 207.532.6573, Northern Maine Real Estate-Aroostook County Broker (MOOERS REALTY) over 10 years ago

These statistics make the buyers sit on their hands waiting for a better price.  At some point they realize that the prices are going up just a little, and they had better get moving.  This is an opportunity to educate your clients on the local market, and show your value by pointing out the great values.

Posted by Geoff ONeill (John L. Scott Medford) over 10 years ago

Andrew- I agree with your post.  It can hurt the local market as well because people read national statistics and think the same tbe true for their area.  Buyers read some statistic and think they can buy a $300,000 house on Long Island for $150,000 because they think everything is on the brink of foreclosure.  Even in the mortgage business, I never had it so hard trying to rebut misconceptions and generalizations.

Posted by Paul Warkow (Paul Warkow-D.G. Weber Law Associates) over 10 years ago

These statistics make the buyers sit on their hands waiting for a better price.  At some point they realize that the prices are going up just a little, and they had better get moving.  This is an opportunity to educate your clients on the local market, and show your value by pointing out the great values.

Posted by Geoff ONeill (John L. Scott Medford) over 10 years ago

Andrew,

Great blog post!  When I took writing classes, one of the no nos was "glittering generalities".  The media specializes in them to sell the headlines, and unfornately many believe them.  Thanks, and Happy Thanksgiving

Posted by Ron and Alexandra Seigel, Luxury Real Estate Branding, Marketing & Strategy (Napa Consultants) over 10 years ago

Paul..you hit the nail on the head at the chain reaction...the damage inaccurate one size fits all sensationalizing can do. Ratings over truth, due dilegence to think of the snowball damage panic and no guts, no glory headlines cause.

Posted by Andrew Mooers | 207.532.6573, Northern Maine Real Estate-Aroostook County Broker (MOOERS REALTY) over 10 years ago

well deserved feature...the press loves to be broad and it makes our job a little challenging explain and managing the clients expectaions...enjoy the fact you don't have foreclosures better yet short sales...do you have chinese drywall?

Posted by Tim Ludemann over 10 years ago

Andrew your post is so true.  We work in a 2nd home market in the Colorado Mountains, over 70% of the properties are owned by 2nd homeowners.  I can't tell you how often I hear from potential clients that they are waiting because they heard on the news that we need to brace for another drop in the real estate market.  It is so hard to get them to understand that the news is generalizing and that we are not in that category.  Insighful post!

Posted by Krystal Knott, Breckenridge CO Real Estate & All Summit County CO (LIV Sotheby's International Realty) over 10 years ago

Love the photo of the moose and the cat. Good post.

Posted by Bob & Carolin Benjamin, East Phoenix Arizona Homes (Benjamin Realty LLC) over 10 years ago

The media has a tendency to report for the nation at large. 

You said a mouthful right there. What we have here in Central Texas is very different than the rest of the nation. You wouldn't expect anyone to make assumtions on our market based on other parts of the country, just as we wouldn't the other way around.

Posted by Dave Murray (DMTX Realty, Coldwell Banker United, Realtors) over 10 years ago

Nice post Andy. Everything is subject to interpretation and the local tribal customs.

You need a "Objects are further out than they appear" in that side mirror! (wink)

Posted by Candice A. Donofrio, 928-201-4BHC (4242) call/text (Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker) over 10 years ago

Thanks goodness we have pockets of the country where people are not backed up to the wall, between a rock and a hard place and life is good, easier, saner, healthier. Financial health is just as important as mental and physical health. If you work three jobs to make ends meet and pay off high rate credit cards, that will make you old, tired, worn out and sick quickly.  Don't believe everything you read about the economy either. You could hold back or jump forward at the wrong time if you depended on just the media. Where does the voice in your head, common sense and your gut feeling come in?

Posted by Andrew Mooers | 207.532.6573, Northern Maine Real Estate-Aroostook County Broker (MOOERS REALTY) over 10 years ago

Hi Andrew -- Great points.  All real estate is local.  Here in Cleveland, there is a particular price point in a strong-selling community where 50% of the homes are under contract and limited supply, while 10 miles down the road is foreclosure city - making up 80% of the inflated inventory for sale a rock-bottom prices, so one cannot extrapolate and say all of Cleveland is in the dumps, it's not.  Generalities does more harm than good in the real estate market and the NAR furthers this garbage when the publicize national averages and stats.

Posted by Chris Olsen, Broker Owner Cleveland Ohio Real Estate (Olsen Ziegler Realty) over 10 years ago

Read national statistics on anything with a grain of salt and for amusement purposes only. Just call it Zillow news or Zillow stats. Who really cares? At the end of the day, it's somewhat interesting and you say to yourself "wow" or "hmm", but what really matters is what's happening in your back yard and the rest is just fluff for cocktail party conversation.

Posted by Michael Myers (King-Rhodes & Associates) over 10 years ago

The problem is we get customers in from out of state that think what they have read on the Internet is the Bible.

Posted by Ted Tyndall, I will help You find the Home YOU want to Buy (Davidson Realty Inc.) over 10 years ago

My reading of this post is well timed.  I had this exact conversation with someone at a local pizza joint that I frequent for lunch.  I get salads though.  I wish more people had the goal of freeing themselves from their note and owning outright.  It feels so good to own a car outright, a house must be amazing.  I wouldnt know.

Posted by David Monsour, ABR - www.realty-insights.com (Keller Williams Keystone Realty) over 10 years ago

Great post and great info about your local area.  We don't have an average price of $80,000 here in Metro Detroit

Posted by Russ Ravary ~ Metro Detroit Realtor call (248) 310-6239, Michigan homes for sale ~ yesmyrealtor@gmail.com (Real Estate One) over 10 years ago

Hi Andrew. I can so relate to what you say about Maine compared to the rest of the country. Real estate is local and local within a local area. Our North Texas area has been like 180 degrees out of phase with the national numbers. Happy Thanksgiving.

Posted by Gary Woltal, Assoc. Broker Realtor SFR Dallas Ft. Worth (Keller Williams Realty) over 10 years ago

Andrew, you are preaching to the choir and you are so right. Our local market has not been hit as hard as an area 15 miles away. Like Lenn said, contact a local Realtor for local stats, we know them.

Posted by Sharon Alters, Realtor - Homes for Sale Fleming Island FL (Coldwell Banker Vanguard Realty - 904-673-2308) over 10 years ago

Statistics can be widely manipulated and the same set of numbers can be used by two opposing points of view. I guess you just have to be smart about what you read and believe.

Posted by James Lyon (Vista Pacific Realty) over 10 years ago

Statistics can be massaged. When I worked in radio, arbitron ratings. You could be number on with 12 year olds drinking mountain dew or the 85 years old using Denture-grip. It used to be the 18 to 34 year olds were the target and broadcast one bullet to hit the most of the market. Now niche, surgical strikes with 22 calibre marketing to attract.... tractor beam customers back to the primary website. You want to sell them something..to put food on the table, shoes on the kids' feet. Happy Thanksgiving!

Posted by Andrew Mooers | 207.532.6573, Northern Maine Real Estate-Aroostook County Broker (MOOERS REALTY) over 10 years ago

Hi, Andy. Congratulations on the feature! I relate to much of what you say about your area because it is alot like that here in Tennessee. I have to read posts to know what's going on out there in the world of real estate because we don't have many foreclosures or short sales here, or mortgage fraud. It's tremendously comforting to live in a place where values are still values and to work with buyers who appreciate this area for all that it has to offer.

Posted by Leslie Helm, Real Estate For Trail Riders (Tennessee Recreational Properties) over 10 years ago

Leslie..you are so right and hit the real estate head of the problem we have in the country reporting dire situations where viewers, readers could think EVERYWHERE EVERYONE is up against it, 20 minutes from foreclosure and end of the world in every sense. Scaring folks with the sharp stick in the eye headlines. Think your horse country in TN is similiar to ME.

Posted by Andrew Mooers | 207.532.6573, Northern Maine Real Estate-Aroostook County Broker (MOOERS REALTY) over 10 years ago

This blog does not allow anonymous comments