If you’ve been looking for a home lately, you’ve probably felt how tough affordability still is. And that's exactly why more buyers are opting for adjustable-rate mortgages, or ARMs.
Here's what you need to understand about how they work, and whether they make sense for you.
Since a lot of people aren’t familiar with this type of loan, let’s start with a definition. This is how [...]
Join Mike Miller, a member of the Rocky Coast String Band for a relaxed evening of food, music and community, tonight, April 1 from 5:30-7:00pm.
The bad news is that the Northeast is trailing the rest of the country in pending sales and affordability - If you have been searching for your new home, this is not news to you. The good news is that this is typically the time of year when we see more inventory come on the [...]
Mortgage rates have already dropped into the upper 5s twice this year. But after just a few days, they ticked back up into the low 6% range. If you saw that and thought, “Great. I missed it,” you’re not the only one.
Many buyers are treating the 5s like some kind of magic number. As if moving from 6.1% to 5.99% suddenly changes [...]
What if you didn’t have a mortgage payment on your next house? It may sound a little unrealistic. But for a number of homeowners, it’s actually doable.
Nearly 3 in 10 homes purchased today are bought in cash, according to the National Association of Realtors (NAR). That’s far more than the pre-pandemic norm [...]
The entire team at Cates Real Estate is profoundly saddened by the passing of Rick Whelan, a truly remarkable and respected Broker who was a cherished member of our family. Rick served the local real estate market for over 50 years, and his legacy of kindness, integrity, and genuine passion will live on through all of us who had the honor of working alongside him.
We first welcomed Rick to our firm in 2014, when he and his partner Jim Ianello merged Rock Maple Realty with Cates Real Estate. He continued to share his unparalleled expertise with us until his well-deserved retirement in March of 2023.
Rick was so much more than a colleague; he was a mentor, a friend, and a man whose warmth touched everyone he met. He was known for being kind and honest, and for having that unforgettable "professional grade gift of gab" that made every conversation a pleasure. He always asked about our families and celebrated our accomplishments as if they were his own. His deep love for nature—from his "gentleman's farm" to diligently tending his bird feeders—reflected his gentle spirit. We’ll always remember his signature look: his leather boots, light blue Oxford shirt, and that ever-present compass around his neck.
For Rick, real estate was a calling, and his passion was undeniably the land. He didn't just sell property; he mastered his craft. To watch him walk a large tract, following boundaries with just a deed and his simple compass, was to witness a true expert at work. His commitment to his clients was absolute, and he always ensured every transaction was handled with the utmost care. He was the first person in the office to lend a hand, patiently sharing his time and deep knowledge with every agent who asked. We truly have missed his guidance and presence these last few years.
We are certain that Rick now has his compass in hand, at peace, traversing boundaries in a beautiful landscape. His legacy of patience, integrity, and deep love for Maine's land will continue to inspire the whole team at Cates Real Estate.
Rest in peace, Rick. We will miss you greatly.
— The Team at Cates Real Estate
If you’re one of the thousands of homebuyers waiting for rates to fall, you should know it’s already happening. And they recently crossed an important milestone. Rates officially dipped their toes into the 5s – something that hasn’t happened in about 3 years.
This moment marked a critical threshold. Now, rates are sitting in the low 6% territory. And expert forecasts project they’ll hover near this range throughout the [...]
A handful of seats remain for tomorrow's First-Time Home Buyers Course
Call Blakeley at 207-706-6084 or blakeley@catesre.com
Wondering what to expect from the housing market in 2026? You’re not the only one. For the past few years, affordability has been the biggest barrier for most people to their next move. Many buyers and sellers have been holding their breath, waiting for conditions to improve. The good news? It’s finally [...]
Summary of charts showing median sales prices for Maine SFR and condo sales for 2025 as follows as of January 2, 2026::
*Based on stats from Maine Real Estate Info Systems, inc., dba, Maine Listings