Jeff Harris of Harris Real Estate, the 2025 president of the Maine Association of Realtors, tells Fortune, "Maine has some of the oldest housing stock in the country, with 35% built before 1960—23% before 1940. Because of the lack of housing and affordability, renovating existing housing is a wise and feasible pathway to homeownership.”

source: Fortune magazine, February 24, 2025

It's springtime in Maine and it's the perfect time to purchase this fixer-upper in Turner Maine. The work has been started and it is awaiting your dreams and finishing touches. Renovate the first floor and live there while you tackle the rest. Plenty of room to grow with over 3000 square feet of living space. Come explore the possibilities. 

Call today to learn more. FMI contact Kerry Lee Hall at kerry@catesre.com | 207-691-8008 

HOMESTEAD EXEMPTION:

The homestead exemption reduces a home's value by up to $25,000 for property tax purposes.

To qualify, the applicant must:

• be a permanent resident of Maine 
• the home must be the applicant’s permanent residence
• applicant must have owned a home in Maine for the twelve months before applying 
• application must be filed on or before April 1 with the municipality where the property is
[...]

Spring is here, and so is the busiest season in real estate. More buyers are out looking for homes, which means more competition for you. If you want to put yourself in the best position to buy, there’s one step you can’t afford to skip, and that’s getting pre-approved for a [...]

Spring is in full swing, and the housing market is picking up along with it. And if you’ve been wondering whether now is the right time to buy or sell, here’s the inside scoop on why this spring may be a great time to make your [...]

For the past few years, it’s been mostly a seller’s market. But dynamics are shifting as the number of homes for sale grows. And that means that the market is balancing out a bit. As a result, some sellers are finding they need to be more flexible to close a deal. One strategy that can help? Offering [...]

If you took your house off the market in late 2024, you’re not the only one. Newsweek reports that data from CoreLogic and the Wall Street Journal (WSJ) says nearly 73,000 homes were pulled from the market in December alone – that's more than any other December going all the way back to 2017 (see graph below):

Whether it was because [...]

Some Highlights

• Buying a home isn’t just a transaction – it’s a journey. And, like any great adventure, having a solid roadmap makes all the difference.
• Each milestone is an achievement, from building your dream team to getting pre-approved, house hunting, and signing the papers on closing day.
• Your journey starts here.

Let’s connect so you have help every step along the way. Contact one of our Team Members at Cates Real Estate at 207-701-5600 or [...]

How Buying or Selling a Home Helps Your Local Economy

Whether you’re buying or selling a house, here’s something to think about that most people don’t. Your decision doesn’t just impact your life and your family’s, it sparks a ripple effect that has a positive impact on your entire [...]

March 20, 2025 - In a press release to the media today, Maine home sales increased 6.51% compared to February 2025 to February 2024. The median sales price was $381,500, a 9.00% increase in that same time period. Knox County saw a 37% rise in number of units on the market from 2024 to 2025, while the median sales price stayed the same at $440,000. While Cumberland County saw a 19.66% increase in number of units sold in the same time period, with a 9.93% change with the median sales price increasing from $513,970 in 2024 to $565,000 in 2025. NAR reports that existing home sales were down and prices up nationally. Home sales and prices were up in the northeast, comparing February 2025 to February 2024. 

source: Maine Real Estate Information System, Inc. 

FMI contact Cates Real Estate 207-701-5600 | info@catesre.com 

#maineassociationofrealtors #pressrelease #propertiessold #mainehousing #realestatestatistics #housingreport

The Cates-Meklin-Zontini Team Just Sold this Lincolnville cutie. But with spring right around the corner, the new listings are popping up daily. Give the team a call to learn more about the local market. Or, if you are seeking to sell your property this spring, call them a call for a market evaluation and see how the three of them can assist you in maximizing your profit this selling season. 

FMI contact Natasha Zontini | natasha@catesre.com | 207-975-0206