The Current Real Estate Market and Retirement Planning

Starting to plan for your retirement? Wondering when is the best time to sell your home, or if you’ll be able to sell at all? On April 6th, representatives from RE/MAX Oceanside of Cape Elizabeth presented a workshop at Piper Shores focused on the state of the current real estate market and how it affects retirement planning.

“We are currently experiencing a market shortage for homes in the 300,000-400,000 dollar range,” said Frank Strout, RE/MAX Oceanside agent. “This presents an excellent opportunity for potential sellers who may be considering a move to a retirement community in the next several years.”

During the workshop, real estate experts Frank Strout, Steve Seabury, Elizabeth Jesmain, Vicki Kennedy and Doug Schauf discussed the recent upswing they’ve seen in the local and national housing market.

“Favorable interest rates and the thinning out of foreclosure properties on the market have created an upswing in both number of properties sold, as well as in sold prices,” said Doug Schauf. “In the Greater Portland area specifically, we’ve seen a lack of inventory creating shorter market times and more favorable terms for sellers, especially for quality homes that have been well-maintained. You may have heard it’s a buyer’s market – but the market is changing right now, and it’s become a very good time to sell a property.”

Doug and his partners also discussed the average selling price and market time for homes in the greater Portland area, as well as the importance of regular home maintenance, staging and proper marketing (online and amongst realtors) in order to achieve the highest possible selling price.

For more information about the current real estate market in Greater Portland, visit Doug Schauf’s real estate blog, or contact a RE/MAX Oceanside real estate agent today.