Question: Marc, I see in the news how great of a Real Estate market we are in right now, what are your thoughts? Margaret L. Gorham, ME

Answer: Margaret, Thank you for your question. It has been an interesting 18 months in real estate. Most Realtors have never seen a market like this. What we have are low interest rates, low inventory and a populace re-thinking where and how they live. Perhaps a perfect storm. It is a great market if you are selling. But what about the buyers that need to purchase? In Cumberland County there has been a 20.55 percent increase in the cost of a home from September 2020 to September 2021. First time home buyers are now paying 20 percent more for a home than a year ago, which puts home ownership out of reach for some. Some buyers must look further from where they may want to be or their place of employment, extending their commute.

— Marc is the broker/owner of Freedom Realty in Saco. He is a 15 year seasoned agent with nearly 20 years in the Real Estate industry. He answers all Real Estate and Real Estate financing questions for you. To submit a question email: mcardullo@gmail.com

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