Deja Lett Team Real Estate Podcast

The Key Steps of a Mortgage Pre-Approval

dejalettsellsmaine@gmail.com (Deja Lett) — Mon, 12 Mar 2018 12:31:00 -0700

If you’re buying a home with a mortgage, you absolutely need to get a pre-approval first. Here’s why.

Buying a home? Click here to perform a full home search

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There's no doubt about it. It's a very competitive market today if you are looking to buy a home.

Inventory is near record lows, and more and more homebuyers are entering the market. This means you need every advantage to grab that perfect home when you do find it.

One no-brainer is to get pre-approved for a mortgage. A pre-approval informs you of how much you can borrow and it's something you will need to do at a later point anyway.

A pre-approval can mean the difference between having your offer accepted or having to watch your dream home go to somebody else in a crazy market like this.

In spite of all these good reasons, less than 10% of buyers who got a mortgage get pre-approved by the lender who originated the loan. In other words, you can definitely get a leg up on the competition by starting your home search at the loan office rather than at the open house.

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A pre-approval definitely gives you a leg up on the competition.

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Here are a few things that you will need:

1. Proof of income. At a minimum, lenders will want to see pay stubs from the past 30 days showing your year-to-date income, two years of federal tax returns, and two years of W2 forms from your employer.

2. Proof of assets. You will need to present statements from your checking, savings, or investment accounts to prove that you have funds for the down payment and closing costs.

3. Good credit. Most lenders reserve the best rates for homebuyers with a credit score of 740 or above. You can still qualify for a mortgage with a lower credit score, but a good lender will also recommend ways that you can improve your credit and qualify for a better loan.

These are the biggest and most common things you will need to get pre-approved, though your lender might want to see some other documents as well.

Once you are pre-approved, the buying process will be faster, more convenient, and less stressful. Most importantly, it will make it more likely that your offer for that perfect home gets accepted.

If you have any questions for me or need any additional assistance, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.

Interest Rates Will Be Rising Soon

dejalettsellsmaine@gmail.com (Deja Lett) — Fri, 16 Feb 2018 09:12:00 -0800

Interest rates are creeping up. Here’s how people are taking advantage of the market now.

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We're in for a very competitive stretch in the real estate market.

First off, mortgage rates have started increasing. For the first time since last summer, the 30-year average mortgage rate is now over 4%. This follows a long period when mortgage rates were near record lows.

This latest increase might be more than just a temporary bump. Some experts predict that we've seen the last of sub-4% mortgage rates, thanks to strengthening inflation and broad-based economic growth.

Second, mortgage applications are also increasing. Applications were up in January by 4.1% compared to last year. This has been led by people looking to refinance their homes, while mortgage applications by homebuyers remained at steadier levels.

Third, housing supply continues to be increasingly tight, with 10% fewer homes on the market than a year ago.

What do all of these numbers mean for you?

Homebuyers are looking to lock in the current, low rates.

The growth in mortgage rates shouldn't affect the number of eager homebuyers very much because there is so much more demand than supply right now. However, this rise in mortgage rates might actually reduce the number of homes for sale even further.

Homebuyers should be looking to lock in the current, still fairly low mortgage rates. When mortgage rates increase further, homeowners will have less of an incentive to sell their current home and buy a new home, which will require a mortgage at a new, higher rate.

If you have any questions about where the current rates are at or you have any real estate needs we can assist with, please don’t hesitate to reach out and give me a call or send me an email. I look forward to hearing from you soon.

3 Tips for Southern Maine Home Sellers

dejalettsellsmaine@gmail.com (Deja Lett) — Fri, 2 Feb 2018 13:10:00 -0800

What can you do to set your home apart from the competition? I have three tips to give your listing a competitive edge.

Buying a home? Click here to perform a full home search

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What can you do to give your home a competitive edge once it hits the market?

1. Get your home pre-inspected. By ordering the inspection, you show the buyer that you’ve done some due diligence. It also shows that you addressed any issues head-on.

Another benefit of the pre-inspection is that you will save more money in the long run. When the buyer does the inspection, they are trying to find everything they need to know about the property while looking for a way to renegotiate with you on pricing and repairs.

Depending on what comes up during the home inspection, buyers can get very nervous. Their idea of what something might cost to repair can be a little skewed. If you’ve done the inspection and addressed those issues head-on—and you have the report and receipts to show it—you will save money in the long run. You also won’t be blindsided by any surprises.

Staged homes sell in 11 days and for 17% more money than non-staged homes.

2. Have your home staged. According to the National Association of Realtors, homes that are professionally staged sell in 11 days or less and for 17% more than non-staged homes. Staging will yield you more money in a shorter amount of time. Staging also helps buyers see where things can be placed in the home to make it warm and welcoming.

3. Have professional photos taken. We always use a professional photographer on all of our listings. Everyone knows that a picture says 1,000 words, but I think a picture says a million words. People get emotional when it comes to buying, and those photos are their first impression of your home.

If you follow these tips, you will set your listing up for a successful sale. If you have any other questions about selling in today’s market, just give me a call or send me an email. I would be happy to help you!

Tax Reform’s Effect on the Real Estate Market

dejalettsellsmaine@gmail.com (Deja Lett) — Tue, 23 Jan 2018 08:35:00 -0800

I’m sure you’ve heard a lot about tax reform lately. Here’s a few ways The Tax Cuts and Jobs Act will affect the real estate market.

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There's a lot of uncertainty about The Tax Cuts and Jobs Act and its effect on real estate. Let’s first take a look at the four key tax changes impacting the housing market at this moment:

1. Deductions for property taxes. Prior to the new tax bill, if you itemized your deductions, you could deduct all of your property tax. Going forward, this amount will be capped at $10,000.

2. Deductions for mortgage interest. The final bill reduces the limit on deductible mortgage debt to $750,000 for new loans taken out after 12/14/2017. Other loans of up to $1 million are grandfathered in.

3. Home sales exclusion for capital gains. If you sell your home and turn a profit, then up to $500,000 of that profit is exempt from capital gains tax. Although earlier versions of the bill required you to live in the home for five out of the last eight years, the final bill made no changes to the capital gains exclusion. In order to qualify for this exclusion, you must have lived in your home for two of the past five years to claim this exemption—just like before.

4. Deductions for moving expenses. The final bill repealed the moving expense deduction, except for those who are members of the Armed Forces.

The first two changes increase taxes on current homeowners and make homeownership less attractive. This is a part of why the National Association of Realtors claims that home prices could drop by more than 10% due to the new tax plan.

On the other hand, the last change makes it more expensive to sell your home. As a consequence, they could keep some homes off the market.

These reforms may drive home prices down in the midterm.

We'll have to see how the different changes play out in reality, and how they interact with other real estate conditions. However, there does seem to be a consensus among experts that current reforms might drive home prices down somewhat in the midterm.

On the bright side, home sellers do still get to take advantage of the home sales exclusion for capital gains. That is a major victory for real estate.

That's why if you've been thinking of selling your home, now might be a good moment to start the process. If you have any questions, whether you are buying or selling, you can always call me or shoot me an email. I can give you more specific recommendations based on your unique situation. I look forward to hearing from you soon.

Homebuyers Are Feeling Optimistic

dejalettsellsmaine@gmail.com (Deja Lett) — Tue, 9 Jan 2018 14:14:00 -0800

Why are homebuyers more optimistic than they have been in the past few years? Here’s what we found.

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Here’s a paradox for you: Right now, homebuyer confidence is at an all-time high, according to a survey performed by Fannie Mae. Furthermore, an increasing number of people, particularly renters, think now is a good time to buy a home. Yet at the same time, housing inventory remains very tight. It’s down 6.5% nationally from last year. Home prices are also up 6.9% nationally over last year.

In other words, homebuyers are optimistic at a time that the market seems to be favoring sellers. So, what's going on? Why are homebuyers so optimistic all of a sudden? Here are three possible explanations:

1. Lending is loosening up. Over the past several years, mortgage rates have seen historical lows. This has meant that homes are actually more affordable, in spite of the increase in prices. However, lending has been very tight. Fortunately, that’s changing. Lenders are approving mortgages at the highest rate since 2011, with 77% of mortgages for home purchases approved.

Lenders are approving mortgages at the highest rate since 2011.

2. Jobs are looking good. At the moment, fewer homebuyers are worried about losing their jobs, according to the same Fannie Mae survey. It's not just job security that's contributing to greater optimism about buying a home. Overall income is higher, making homes more affordable by comparison. The median household currently has 150% of the income needed to buy a median home, compared to a historical average of just 125%.

3. Long-time renters are ready to buy. Millennials, the generation of people born after 1980, have largely opted out of homeownership until now. They have been renting for a longer time, putting them higher up on the pay scale compared to previous generations of first-time homebuyers. But now, many millennials are finally hitting an age when they are willing to commit to buying instead of renting. This is reflected in the Fannie Mae report, which states that much of the increase in homebuyer optimism comes from current renters.

What all does this mean for you? If you're looking to buy a home, all of the above reasons should give you confidence that now is indeed the right time to buy.

If you’re thinking about buying or selling a home, click the links above to search for homes on the MLS or find out how much your home is currently worth.

And if you have any questions about the Southern Maine real estate market, whether you're thinking of selling or buying, give me a call at 207-553-2602. I'm here to help. I look forward to hearing from you soon.

5 Safety Precautions for a Safe, Hassle-Free Home Sale

dejalettsellsmaine@gmail.com (Deja Lett) — Thu, 28 Dec 2017 09:12:00 -0800

If you want to protect your home and yourself during the listing process, there are five safety precautions you need to take in your home.

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When preparing to list your home, there are five safety precautions you should take.

First, remove all prescription medications inside your medicine cabinet.

Second, put away any jewelry, family heirlooms, financial records, and other valuables and store them somewhere else.

Third, remove all family photos from your home. Not only will this help the buyer visualize themselves living inside the home, but it will also protect your privacy.

Fourth, install surveillance cameras.

Lastly, don’t let anyone view the home without their agent present.

Make sure your Realtor has some kind of screening process.

As a seller, preparing your home for the market can be a stressful time. You’re thinking about getting the best price and possibly needing to move quickly, and you’ll have potentially a lot of strangers into your home, so make sure your Realtor has some kind of screening process.

Our job is to make this process easy for you, so if you’re thinking about selling your home, don’t hesitate to reach out to me. I will do a comparative market analysis to help you find the best price, give you tips on how to prepare your home for the market and maximize its value, and provide safety tips to ensure all these precautions are in place.

If you have any other questions or are thinking about buying a home, just give me a call or send me an email. I’d be happy to help you.

How Will the Fed's Recent Decision Influence the Market?

dejalettsellsmaine@gmail.com (Deja Lett) — Tue, 31 Oct 2017 13:08:00 -0700

The Fed’s recent decision is going to have a big impact on our economy and real estate market. Here is everything you need to know.

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The Fed just announced a move that will have a big impact on sellers and buyers.

At the recent meeting on September 20th, the Fed decided to cut back their balance sheet. While this might sound boring compared to the usual news of Fed rate hikes, it’s actually a big deal.

The financial crisis we saw a decade ago caused the Fed to take emergency measures. So, they injected a huge amount of money into the economy by buying up various financial assets in an enormous sum.

These financial assets amounted to a sum of about 25% of the United States economy at that time. But now, the economy has recovered to the point where the Fed feels comfortable taking some of this money back.

As you can imagine, this is going to have a huge impact on our economy and real estate market. This change is going to put upward pressure on consumer borrowing costs such as mortgage rates.

This change is going to put upward pressure on consumer borrowing costs such as mortgage rates.

In other words, if you are thinking of buying a home you should know that the Fed’s most recent move will eventually make it more expensive to do so.

Also, sellers must be aware that this change could result in fewer interested buyers. This might lead to a decrease in prices, making it harder to sell.

However, this is not an immediate change. The rollback will be gradual, with the Fed taking back just $10 billion per month. Compared to the $4.5 trillion total that was borrowed originally, this is not a significant amount.

While the Fed’s move will not take effect immediately, you should act quickly if you have been thinking of buying or selling. Now is the time to make your move before the process of this change starts to escalate.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

5 Ways to Invest in Real Estate

dejalettsellsmaine@gmail.com (Deja Lett) — Wed, 27 Sep 2017 09:23:00 -0700

Real estate investing is on the rise. Here are five different ways you can get involved.

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Investing in real estate is no longer restricted to the super wealthy. According to a recent survey, real estate investors now make up 15% of the population. That translates to almost 50 million individuals who invest in at least one property other than their primary residence.

In fact, 89% of U.S. investors are interested in putting their money in real estate because of benefits such as cash flow, tax incentives, leverage, and value appreciation that come with investing in multiple properties.

Are you curious about investing in real estate? If so, here are five different ways you can get started:

1. Buy and rent

This is probably the most traditional way to invest in real estate. It simply involves buying a property and renting it out. Now is a good time for this kind of investing because rental rates are on the rise (8% since last year) but the downside of this investing approach is the time and effort needed to manage and maintain your investment.

2. Buy and sell

Also known as home flipping, this involves buying a property and reselling it soon after for a profit. Home flipping has offered a record-breaking 49% return in 2016.

Home flipping offered a record-breaking 49% return in 2016.

3. Real estate investment groups

Real estate investment groups are organizations that buy a set of properties and then sell them to individual investors.The main benefit of this approach is that you typically do not need to act as the landlord because the investment group handles property management for you (for a fee of course).

4. Crowdfunding sites

Recently, there's been an explosion of sites such as Prosper and Lending Club, which allow individuals to invest in various real estate development projects. Through crowdfunding sites, you can be a part of a large-scale property investment while investing only a moderate amount of money. On the other hand, crowdfunding sites act as a middleman and charge fees which can eat into your profits.

5. REITs

Real estate investment trusts (REITs) are like mutual funds for real estate.They typically pay high dividends. However, they also do not offer all of the typical benefits of investing in real estate, such as increased leverage and tax benefits.

Each of these investing approaches offers a tradeoff between possible profits, risks, and costs.

The one constant is that you can minimize your risks with due diligence and by consulting with an experienced real estate professional.

If you have any questions for us or you’re interested in investing in real estate yourself, don’t hesitate to give me a call or send me an email. I look forward to hearing from you.

Busting 3 Common Home Buying Myths

dejalettsellsmaine@gmail.com (Deja Lett) — Wed, 6 Sep 2017 13:53:00 -0700

Today I’m busting three common home buying myths that can sometimes deter people from buying.

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There are a few common myths that exist around the subject of buying a home.

First of all, many people falsely assume that mortgage payments are unaffordable.

In fact, the tax savings you gain from a mortgage actually makes up a large portion of the difference between a rent payment and a mortgage. Mortgages are a lot more affordable than many people think.

The second myth I’d like to bust is that buying a home is too complicated. Though the process does involve some fine details, working with a quality Realtor will alleviate any confusion. The job of a Realtor is to walk you through the transaction from start to finish.

From helping with the pre-approval, talking about your goals, all the way into guiding you to the best home, Realtors are here to help.

Third, there is a common misconception that buying a new home requires a substantial down payment. This is simply not the case. Many programs exist, such as the VA program for veterans, that require zero money down.

There’s also the FHA program, which allows first-time homebuyers to put as little as 3.5% down. Conventional loans can also be as low as 5%.

It’s a great time to buy a home.

Rates are still low right now, so it’s a great time to buy a home.

If you’d like to hear how I can help you buy a home, have any other questions, or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

Things to Do to Get Ready to List Your Home

dejalettsellsmaine@gmail.com (Deja Lett) — Mon, 14 Aug 2017 11:23:00 -0700

Today I’ve got a list of five inexpensive things that you can do to get your home ready to sell.

Buying a home? Click here to perform a full home search

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I’m often asked what homeowners can do to get their homes ready for listing. Today I’ve got a list of five things you can do to your home without breaking the bank:

A tile backsplash in the kitchen. This is a relatively inexpensive thing to do and Home Depot offers classes on how to create the look if you’re a DIY’er like myself. This simple project can completely update the look and feel of your kitchen without having to spend the money on an entire remodel.
Painting rooms. Fresh paint really goes a long way without costing too much money. Be sure to choose neutral colors that will help the buyer visualize themselves in the room and give them a fresh canvas on which to work if they want to personalize the home once they’ve moved in.
Replace kitchen and bathroom faucets. Updating these items throughout the home gives everything a fresh look without having to replace the cabinets in a larger remodel. You can find new fixtures for a great price at Home Depot.
Spruce up your entryway. Adding a few simple decorations inside, as well as some potted plants outside your front door will go a long way towards adding positive curb appeal to your home.
Add a fresh layer of mulch to your gardens. Doing this simple thing will give your yard a cleaner, more put-together look and do great things for your curb appeal.

These simple things will go a long way to adding value to your home, and you don’t have to break the bank to do it.

If you have any other questions or you’re looking to buy or sell a home in our area, give me a call. I would be happy to help!

What to Ask Yourself Before Listing

dejalettsellsmaine@gmail.com (Deja Lett) — Thu, 27 Jul 2017 13:05:00 -0700

Before you put your home on the market, there are four key questions that will help you make the most out of your listing.

Buying a home? Click here to perform a full home search

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Before you sell your home, there are four key questions you should ask.

1. How does your home size and layout compare to other homes on the market? One of the first steps you can take in answering this question is going online to look at properties in your area. When you examine your home using other comparable homes as a point of reference, you’ll get a better idea of how to value your property. In addition, you might also find that this will help you decide on which upgrades, if any, might help your listing.

2. What are the key selling points of your home? Your property is unique. Along with looking at other properties to see what sets them apart, you should also be considering what is special about your own home. Do you have a security system, a fenced in yard, or other unique amenities? Determining these items will help you to better market your home.

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Consider what is special about your home.

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3. What are small upgrades and improvements you can do prior to putting your home on the market? Before you list, your home should be in the best condition possible. Small improvements like painting can make a big difference. But also don’t forget to take care of any repairs, as well. The front entrance is going to be especially important. Make sure it looks attractive in terms of curb appeal.

4. What type of buyer should you be looking for? Having a target demographic for your listing will make the process of marketing much easier. If you have a multi-family home you’ll most likely seek investors or an owner-occupied person looking to supplement their income. If your property is on the water, you might be looking for buyers who are seeking out a second home.

If you are thinking of selling, even if you aren’t planning to do so in the immediate future, I would love to help. I’d be more than happy to visit your property and help you answer each of these questions about your property.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you, soon.

You Don’t Need a Down Payment

dejalettsellsmaine@gmail.com (Deja Lett) — Tue, 20 Jun 2017 13:01:00 -0700

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What's the biggest obstacle to homeownership?

According to a recent survey, "saving enough for a down payment" comes at the top of the list. A whopping 55% of prospective homebuyers cited this as their main stumbling block.

And with the continuing growth of home prices, things aren't getting any easier. In fact, homeownership rates reached a 20-year low last November.
It wasn't always like this.

A decade ago, many lenders were offering easy, no-money-down mortgages.

However, after the financial crisis, mortgage standards have become more restrictive. A typical mortgage now requires a 20% down payment.

Here's the good news.

If you have decent credit and a steady income, you might be qualified for a number of specialized programs that require no or very little down payment. Here are a few of the top options.

First, there's the USDA loan, which is valid for homes in certain regions, such as rural and suburban areas.

With zero money down and lenient credit requirements, the USDA loan can be a great choice for many homeowners.

Second, there’s the VA loan, which you can apply for if you or your spouse served in a branch of the military.

It's possibly the most generous zero-money-down mortgage because of low interest rates and low closing costs.

55% CITED THE LACK OF A DOWN PAYMENT AS THEIR MAIN STUMBLING BLOCK.

Third, there's the FHA loan. It does require a 3.5% down payment — still drastically more achievable than the 20% required for a conventional mortgage.

Finally, there are a number credit unions and first-time homebuyer programs that might apply to your particular situation.

There’s one important thing you should know.

If you get one of these no-money-down mortgages, chances are good you will be required to pay private mortgage insurance, which can drive up your monthly payments.

Fortunately, private mortgage insurance will disappear after your mortgage balance is under 80%. Also, the money you do pay will be tax deductible in most cases.

In short, there are lots of options to make owning a home a reality for you, even if you haven't saved up tens of thousands of dollars.

If you need any advice on getting a no-money-down loan, give me a call. I can put in touch with some experienced lenders who can answer your questions and get you started. I look forward to hearing from you soon.

Why Zillow's Zestimates Are Usually Inaccurate

dejalettsellsmaine@gmail.com (Deja Lett) — Fri, 31 Mar 2017 09:10:00 -0700

Many homeowners are disappointed to find out that their home isn't actually worth as much as Zillow says it's worth. So why are home value calculators like Zillow incorrect so often?

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If you're selling your home, you may have looked to Zillow.com to see what your home is worth. Many times, Zillow will say your home is worth more than what your Realtor says it's worth. Why is that?

For starters, Zillow's home value calculators rely on a formula that only considers things like square footage and recent home sales in the area. As you know, however, most homes aren't perfect after years of wear and tear. Realtors dislike Zillow's Zestimates because they involve no human interaction. Zillow can't physically come see your home. Instead, it relies on an algorithm and statistics.

Secondly, these online estimates miss the details of a home. Your home might have wallpaper from the 1950s or a kitchen that hasn't been upgraded in 20 years. If your neighbor's home has those upgrades, the Zestimate can give you false hope because it doesn't know that your home needs the updates. On the other hand, if your home actually has all these updates and renovations, Zillow still doesn't know that. It could miss value that your home has.

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Zillow can't come see your home in
person like a local Realtor will.

”

Third, these Zestimates are strictly guidelines. They give homeowners a lot of false hope, and even though it's easy to tell ourselves that the values they provide aren't always accurate, it's not always easy to remember. When you think your home is worth more than it actually is, you will be disappointed when you find out that it might be different.

You can do some homework on the Internet to look at recent sales in your area to get a better idea. To get the best idea of your home's value, you should consult a local Realtor who sells a lot of homes in that area. They can show you what has sold recently and compare the benefits and features of those homes to yours to help you come up with an accurate value for your home.

The southern Maine market is a very attractive seller's market right now, so if you'd like to know what your home is truly worth or you're ready to sell now, give me a call or send me an email soon. I'd be happy to help you!

You Don’t Want to Miss Two Brothers Pizzeria and Deli

dejalettsellsmaine@gmail.com (Deja Lett) — Thu, 9 Mar 2017 09:55:00 -0800

Today I’m excited to shine a spotlight on a great local restaurant called Two Brothers Pizzeria and Deli.

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Today I’m excited to tell you about Two Brothers Pizzeria and Deli, a great spot located at 213 North St. in Saco, Maine. I’m joined by Brady and Justin, the two brothers who are the inspiration for Two Brothers and the reason it’s here.

They use a hand-tossed pizza dough and make their own sauce in-house. Check out the video above for a live demonstration of how they make their handmade dough for their brick oven pizza.

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Both their hand-tossed dough and
pizza sauce are made in-house.

”

Some special items here include their marinated steak tips and chicken breasts as well. They also hope to be doing deliveries by the middle of next summer. For more info, you can check out their Facebook page.

If you come, mention Deja Lett and you’ll get $1 off your next pizza!

In the meantime, give me a call if you have any questions about the real estate market here in southern Maine or you’re looking to buy or sell a home. I’d be happy to help you!

Biddeford Business Spotlight on Dirigo Brewing Company

dejalettsellsmaine@gmail.com (Deja Lett) — Mon, 13 Feb 2017 12:09:00 -0800

Have you visited Dirigo Brewing Company yet? If you haven’t, here’s why you should.

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We’re excited to spotlight a great local business today. Mark Paulin is with us from Dirigo Brewing Company and we’re here to talk to Mark a little bit about how the business got started and share some exciting news about what’s coming next.

Many of you know Mark from the car repair business. How did he get into the brewing industry? Well, for starters, he wanted to make people happy. While he was able to give great auto repair service to his clients, nobody is ever happy when they get a $1,000 bill. Mark noticed that people were never unhappy when drinking beer, so why not try something like this? The craft beer industry is exploding and Mark believes they’ve got something pretty special here with Dirigo.

Dirigo Brewing Company makes old-world style German lagers and ales. They primarily focus on lagers because there aren’t a lot of them in the craft brewing world. They are difficult to make and can cost a lot if you don’t have the right equipment. You can make an ale in 14 days and hide a lot of the imperfections. With lagers, everything has to be just perfect for things to come out right. Mark embraces that challenge.

They do a lot of cool special events here at DBC. They’ll have live entertainment here on the weekends, as well as other special events. The best place to get the latest information about the events is through their Facebook page. One big piece of news to note is that they have recently partnered up with Richie’s Jerk and Barbecue to serve food. You’ll be able to come down to the brewery, order some food, and enjoy the atmosphere while drinking some delicious suds.

One more thing we wanted to mention is that we are actually holding a class here for homebuyers soon. Our “Hoppy Homebuyers” event is March 15th from 6 p.m. to 7:30 p.m., so keep an eye out for that.

If you are a buyer, keep in mind that inventory is still low. However, interest rates have gone up. If you were pre-approved in the past few months, you should check in with your lender to see what your current rate is and how that increase has affected your purchasing power.

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Our home buying class will be
at Dirigo on March 15th.

”

Thanks so much to Mark for joining us today. If you have any questions for us in the meantime, don’t hesitate to give us a call or send us an email. We look forward to hearing from you soon.

What to Expect From Real Estate in 2017

dejalettsellsmaine@gmail.com (Deja Lett) — Wed, 11 Jan 2017 14:16:00 -0800

Welcome to the 2017 real estate market. I have a few tips for buyers and sellers this year, as well as a small favor to ask.

Buying a home? Click here to perform a full home search

Selling a home? Click here for a FREE Home Price Evaluation

Happy New Year and welcome to 2017!

First, I want to thank you all for an amazing 2016. We were able to help 145 people achieve their real estate goals. We are so grateful to our clients, friends, and family members and all of the support you gave our business in 2016.

As we look ahead to the 2017 real estate market, I have a few tips for buyers and sellers.

“

Rising interest rates will affect buyers
and sellers alike.

”

If you are a seller, it’s important that you get competitive. I recommend speaking with a knowledgeable, local real estate agent who sells a lot of homes in your area. Keep in mind that rising interest rates will affect you, too. Rising interest rates may push some buyers out of the market, which means there will be a smaller buyer pool out there for your home.

Finally, I have a quick favor to ask. If you have any questions about the real estate market or if there are other real estate topics you would like to learn more about, please send me an email. Ask me a question and I will answer it in my next blog post!

In the meantime, if you have any questions about buying or selling a home, please don’t hesitate to reach out to me. I would be happy to help you!

Consider These 7 Things Before Buying a Home

dejalettsellsmaine@gmail.com (Deja Lett) — Thu, 15 Dec 2016 15:52:00 -0800

Considering these seven things when buying a home will help you immensely.

Buying a home? Click here to perform a full home search

Selling a home? Click here for a FREE Home Price Evaluation

Making the leap from renting to owning can be really exciting, but you want to make sure you’re prepared. These are the top seven things you should consider when buying a home.

Make a list of your must-haves and your wants. These are two different things, so make sure you have two lists. Really focus on your must-have list, and make sure your want list is realistic with your budget.

Limit your daily showings. You really don’t want to see too many properties in one day. If you go over five to seven showings, the homes will start to blur together, and you’ll lose sight of what you’re looking for. It’s a good idea to bring a notebook to write down specific things about each home to jog your memory.

“

Bring a notebook to write down
specifics about each home.

”

Drive by your favorite home at different times of the day. Once you have found a favorite, you’ll want to know what the neighborhood is like. Drive by around 5 p.m. to see what traffic is like or to see how active the neighborhood is in the evening.

Don’t let interior decorations sour your opinion. These things can be easily changed and shouldn’t sway your opinion of a home.

Find out what’s included with the home. When you submit an offer, you want to find out if appliances or anything else are included with the sale.

Ask why the sellers are moving. You might have a little more power if a seller has to leave quickly. However, this mainly applies when the market is catering to both buyers and sellers. If you are in a seller's market, the home is probably going to sell quickly, so you’ll want to keep your offer aggressive.

Find out the costs of taxes and utilities. In fact, you can ask for copies of the utility bills so you know exactly what those expenses are going be.

If you have any questions, please feel free to give me a call or send me an email. I am happy to help you with all your real estate needs.

How Can You Show Gratitude Every Day?

dejalettsellsmaine@gmail.com (Deja Lett) — Mon, 21 Nov 2016 07:50:00 -0800

Showing gratitude is a great way to combat negativity. Here are five ways to show gratitude.

Buying a home? Click here to perform a full home search

Selling a home? Click here for a FREE Home Price Evaluation

I wanted to do a little something different today. There has been so much negativity lately surrounding the recent elections. The media does a great job of putting that out there and creating fear and doubt in a lot of us. That negativity can get to us if we let it, so I just wanted to share five ways that you can show gratitude. I believe showing gratitude is a great way to combat negativity. Here’s what you can do:

1. Write down five things you are grateful for every day before you get out of bed. This could be something simple or could be something deeper.

2. Give away things that you are no longer using. This includes clothing, furniture, computers, phones, and books.

3. Leave sticky notes around your home with inspiring messages on them for you and others to find.

4. Pack a lunch for yourself and a co-worker. Then take the time to sit down with them, talk with them, and listen to what they have to say. A lot of us are guilty of listening with the intent to respond, but this is a situation where you should just listen with the intention of listening.

5. Smile. This one is easy and it’s contagious. Just another simple way to brighten someone’s day.

“

I am very grateful for all of you.

”

I am very grateful for all of you, for our business, and the fact that we’ve been able to help so many people buy and sell real estate. We look forward to serving you in 2017 and hope you have a wonderful holiday season. Try and put gratitude first and foremost in your life.

If you have any questions for us, don’t hesitate to give us a call or send us an email. We would love to hear from you.

The 5 Home Upgrades With the Best ROI

dejalettsellsmaine@gmail.com (Deja Lett) — Tue, 4 Oct 2016 08:34:00 -0700

There are a lot of improvements and upgrades you can do to your home, but not all of them will come with a big return on investment. Today, I wanted to share the top five home improvements you can do to your home to increase the return on the money you invest.

Replace the front door. If you can't replace the door, I recommend painting it. It makes the first impression on a buyer driving up to your home, and a new door or new color can really make the house pop. Buyers are looking to see things that are wrong with the house when they walk in, so the fewer objections you can give a buyer - starting with the front door - the better off you are when it comes to negotiation. This yields a better return than 96% of all other renovations.
Wood deck additions. This yields an 87.4% return on your money.

“

Not all renovations offer a good
return on investment.

”

Attic, bedroom, or efficiency garage conversions yield an 84.3% return. It's unused space, so if you can convert it into something useful and get back nearly 85% of the money you invest, it's absolutely worth it.
Garage door replacement. This goes back to first impressions. Buyers don't want to drive up to a garage door with dings and marks on it, or one that is not working properly. This yields an 83.7% return.
Minor kitchen remodels will get you an 82.7% return on investment. Kitchens are really big for buyers, and they want to know that when they move in, they won’t have to invest a ton of money to make it more modern. Minor things like painting the cabinets, replacing the appliances, changing the countertops, or anything that can bring a modern appeal to the kitchen will give you a big return.

These home improvements will bring you the best return on your investment, so they are the things you'll want to focus on if you're thinking of putting your home on the market.

If you're thinking about selling and you'd like to know what you can do in your home specifically to get a better return on investment, give me a call. I'd be happy to give you some advice on how to maximize your return.

If you have any questions about buying or selling a home, or you have any questions at all about real estate in Southern Maine, don't hesitate to contact me. I would be happy to help you!

5 Tips for Finding a Home Within Your Budget

dejalettsellsmaine@gmail.com (Deja Lett) — Mon, 19 Sep 2016 11:51:00 -0700

Today I wanted to give you my five favorite tips for finding a home within your budget.

Stick to a firm price. Before you begin looking for a home, you should sit down with a loan officer to find out what you can afford to buy. You also want to think about what you're comfortable spending. Once you've looked at those things and have come up with a budget, stick to it.
Communicate with your real estate agent. We're your best friends during this process, and we're here to help you navigate through all the properties, find out whether your financing works for them, negotiate the best deal possible, and get the best terms. We want to hear from you and help you.

“

Your Realtor is your best friend
during the process.

”

Shop only for you. For example, when I bought my home, I brought along friends and family, and of course, everybody had an opinion. At the end of the day, you're the one who needs to live in the home, so as much as you value the opinions of your friends and family members, you have to make the best decision for you and your family.
Search for fixer-uppers. Homes in need of a little repair help you get a better price, especially if the seller knows that there are other homes in the area that are more modern and need less work. It also gives you the chance to put your own personal touch on a property. Your Realtor will also help you understand whether your financing will work for the necessary repairs. Some fixer-uppers might need too much repair for the type of financing you have.
Save for a down payment. Although there are some programs out there that allow for 100% financing, most require some kind of down payment from 3.5% all the way up to 20%. The more money you put down, the more affordable the house is going to be.

I hope you find these tips helpful if you're thinking about buying a home. If you have any questions about the home buying process or you have questions about the real estate market in Southern Maine, give me a call or send me an email. I'd be happy to help!

The Top Three Reasons to Get Pre-Approved in Southern Maine

dejalettsellsmaine@gmail.com (Deja Lett) — Mon, 2 May 2016 13:23:00 -0700

Buying a home? Click here to perform a full home search

Selling a home? Click here for a FREE Home Price Evaluation

When you’re looking to buy a home, one of the most important things that you can do is to speak with a mortgage professional before doing anything else. Before you start talking with Realtors and looking at homes, you need to know that you have the ability to purchase one. You have to find out what you can comfortably afford before you start searching for homes.

Most home sellers will not even entertain your offer if you haven’t been pre-approved by a mortgage professional. Almost every buyer needs to speak with a lender before going out and looking for homes. Try putting yourself in the shoes of the seller. Would you accept an offer from someone who has not even proved whether or not they can buy your home? You probably wouldn’t even look at the offer.

Another benefit of getting pre-approved is that it will save you time in your home search. By knowing what you can afford, it narrows your home search and speeds up the process. Searching for homes can be overwhelming, but not when you know what you can afford.

Lastly, your offer is strengthened through the eyes of a seller when you are pre-approved. It is as close to a cash offer as you can get, and sellers like the convenience that comes along with this. It will definitely help to push your offer to the top of the list.

If you’d like to know of any mortgage lenders that we recommend, please don’t hesitate to contact us!

Why Is Clarity So Important in Real Estate?

dejalettsellsmaine@gmail.com (Deja Lett) — Mon, 11 Apr 2016 12:26:00 -0700

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Clarity is power. What am I talking about here? Well, I take pride in educating myself, and I’m a lifelong learner. A lot of the extra training I do has to do with mindset and how to think. One of the most important things I’ve learned is that 90% of your thoughts dictate what happen to you in life, only 10% is what actually happens to you. Another one of the most important lessons I’ve learned is that clarity is power.

What this means is that anytime you obtain the information necessary to make a good decision, it’s called getting clarity. And it’s powerful. Let’s say for example you want to lose some weight. To help you reach your goal, you may do some research, or reach out to an expert, or someone who has done it before. They will then be able to tell you exactly what you need to do in order to succeed. A recipe for success, if you will.

How does this tie into real estate? Well, if you want to sell your home, there is a recipe for success. In order for you to get that recipe, you need to reach out to someone like me, who is an expert in the Southern Maine real estate market. That’s where you will find your clarity. If you’re just starting out the process of buying a home, the first thing you should do is get pre-approved before even talking to a Realtor. Being able to get clear on something you want gives you so much more power to make the best decisions for yourself.

If you have any questions for us, or you’re thinking of buying, selling, or investing in Southern Maine real estate, give us a call or send us an email. We would love to hear from you!

Four Things That Turn Buyers Off

dejalettsellsmaine@gmail.com (Deja Lett) — Fri, 25 Mar 2016 09:57:00 -0700

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Selling a home? Click here for a FREE Home Price Evaluation

Spring is here and the market is starting to heat up in Maine. If you’re thinking about selling your home, you’ll want to make it as appealing as possible to buyers. Today we are excited to share with you four surprising things that turn buyers off in our market. Here they are:

1. Dirty or crowded houses.

Cleaning and decluttering a home is essential before coming on the market. Buyers want to see your home, not your things.

2. New upgrades for specific tastes.

While upgrading a kitchen can give you a pretty good return, it needs to be done with neutral tones, so it appeals to the highest number of buyers possible.

3. Irrational seller expectations.

Be aware of how your home compares to other homes like it on the market. If you’re overpriced, it can be a disaster.

4. Bad listing photos.

Make sure online listing photos show your home in the best light possible and give a true sense of the space.

These are just a few of the things that buyers don’t want to see here in Maine. If you’re thinking of buying, selling, or investing in real estate, give us a call or send us an email. We would love to hear from you!

How Can You Avoid Buying a Problem Home in Southern Maine

dejalettsellsmaine@gmail.com (Deja Lett) — Wed, 24 Feb 2016 11:32:00 -0800

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Selling a home? Click here for a FREE Home Price Evaluation

You’ve probably heard of CarFax reports, but have you heard HouseFax? HouseFax reports are a new value-added service that we are providing our clients. We will give you a report on a property to let you know whether there has ever been a fire, any building permits are missing, it’s in a flood zone, or there are any general dangers you should be aware of. Essentially, it is a way of finding out everything you need to know about the home before you spend a bunch of money on it.

A HouseFax report is beneficial to sellers as well. If you originally bought the home from someone else, there might be prior insurance claims on the home. When a buyer comes along and starts looking at insurance claims themselves, and they see something you may not have known about, it sends up red flags. We recommend pulling a HouseFax report ahead of time so you can see if there are any red flags you need to address ahead of time before selling.

If you are interested in the value-added service, whether you’re buying, selling, or investing in real estate, please reach out to us. We’d be happy to help you with all of your real estate needs!

How Is Southern Maine Real Estate Performing?

dejalettsellsmaine@gmail.com (Deja Lett) — Wed, 3 Feb 2016 08:12:00 -0800

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Selling a home? Click here for a FREE Home Price Evaluation

Today we are going to talk about what’s been happening in the Southern Maine real estate market lately and what it means for you as a buyer and/or seller.

In many areas around Southern Maine, we have very low inventory. This is a great thing for sellers, because there are still plenty of buyers out there. Homes that haven’t been selling are selling now and some homes are going on the market and going under contract within a week!

Right now, we’ve got 54 days left until spring. If you’ve been thinking about selling at all, it may be a good idea for you to get your home on the market now before the competition has a chance to. Inventory will significantly increase in spring. By listing now, you will likely net more money than you would if you came on the market in the spring.

On the buyer side, rates did go up a bit in December. However, they are still incredibly low and some of the best we’ve seen in years. The only thing that isn’t so ideal for buyers has been the low inventory. A lot of buyers are having to wait for homes, and aren’t able to negotiate as much with the sellers because they are in control. We don’t know when interest rates will go up, but we do know they are extremely low right now and when they do go up, you will lose a lot of purchasing power.

If you’re thinking of buying, selling, or investing in Southern Maine real estate, give us a call or send us an email. We look forward to speaking with you!