Thursday, September 30, 2010


Featuring
Medium Format Photographer,
Audrey Hotchkiss
in


“Orchards and Atmosphere”
At
The Gallery at
HARMON’S &BARTON’S
584 Congress Street ~ Portland ~ 207 774 5948
Fine Art ~ Very Special Flowers ~ Maine Talent
Artist’s Reception,
First Friday Art Walk, Oct 1st , 5-8 pm
Exhibiting through October
Warm sun and brisk breezes, sweet apples and shady mountains. October in Maine through the photographer’s eye! Precocious animals and pumpkins of character – feel the crisp morning air as Audrey’s work gives you pause and welcomes this season of harvest and reflection!

John Hatcher
Keller Williams Realty - The Hatcher Group
6 Deering Street | Portland, Maine 04101
207-775-2121 Office | 207-775-2122 Fax
http://JohnHatcher.us
John@JohnHatcher.us

Wednesday, September 29, 2010

Fannie Mae Announces New Incentives for HomePath Properties

Fannie Mae announced a seller assistance incentive on Fannie Mae-owned properties listed on the company’s REO website, www.HomePath.com, and expands the initiative to offer an incentive to real estate agents and brokers. Qualified homebuyers who will be owner-occupants can receive up to 3.5 percent of the final sales price that can be used toward closing cost assistance, including a home warranty, if desired and available. In addition, selling agents representing owner-occupants will receive a $1,500 bonus. Eligible offers must be submitted on or after September 23, 2010, and must close by December 31, 2010. The sale must close within 60 days of the offer being accepted.

“More than eighty-seven thousand families have purchased HomePath® properties in the first half of 2010—nearly double the number of Fannie Mae foreclosed properties sold in the first half of 2009,” said Terry Edwards, Executive Vice President of Fannie Mae’s Credit Portfolio Management. “We continue to look for ways to stabilize neighborhoods and offer incentives to qualified buyers who will occupy these properties over the long-term and help support their communities."

HomePath properties are owned by Fannie Mae and include a wide selection of homes, including single-family homes, condominiums, and town houses. HomePath properties may also be eligible for special HomePath Mortgage and HomePath Renovation Mortgage financing.

John Hatcher
Keller Williams Realty - The Hatcher Group
6 Deering Street | Portland, Maine 04101
207-775-2121 Office | 207-775-2122 Fax
http://JohnHatcher.us
John@JohnHatcher.us

Tuesday, September 28, 2010

Report: Most Expensive, Affordable U.S. Housing Markets

Coldwell Banker Real Estate LLC released its Home Listing Report, a snapshot survey of U.S. four-bedroom, two-bathroom home listings, which found a $1.7 million difference between America’s most expensive and most affordable housing markets. Newport
Beach, Calif., led the list of most expensive real estate markets in America, with an average home listing price of approximately $1.83 million for property listings meeting the subject home criteria. By contrast,
America’s most affordable housing market was Detroit, Mich., with an average home listing price of approximately $68,000.

The Coldwell Banker Home Listing Report (HLR) is the brand’s latest development designed to provide comprehensive information on real estate data from around the country for homebuyers and sellers. The HLR provides the average home listing price of more than 18,000 four-bedroom, two-bathroom properties on coldwellbanker.com that were listed between February and August 2010 from nearly 300 select U.S. markets where Coldwell Banker Real Estate has a presence. The U.S. average for the surveyed listings was approximately $353,000. Markets included in this report were required to have at least six properties fitting the above criteria within the relevant timeframe.

Known for its sandy beaches and historic Balboa Pavilion (established in 1906), Newport Beach, the most expensive market, has been the backdrop to numerous television shows including “The O.C.” and “Arrested Development.”

Detroit, the most affordable market, is the only major U.S. city that looks South to Canada. Residents of the Motor City take great pride in Red Wings hockey and appreciate the city's hard-working industrial and automotive history.

"Coldwell Banker Real Estate has released national real estate market reports annually for many years to provide consumers with insight into local market conditions,” said Jim Gillespie, chief executive officer, Coldwell Banker Real Estate LLC. “Our study shows that homeownership in the United States is generally affordable, with nearly 30 percent of the studied markets averaging $200,000 or less for a four-bedroom, two-bathroom home – a size many buyers aspire to own. Today those who have the financial resources and a desire to move up to a larger home have a unique opportunity to take advantage of historically low mortgage interest rates coupled with comparatively lower prices and greater selection.”

2010 Coldwell Banker U.S. Home Listing Report – Highlights

* America's Most Affordable Markets: In addition to Detroit, America's most affordable real estate markets are as varied in culture and trivia as they are in listing price ranges:

* Grayling, Mich., is home to many top cross-country skiing destinations.

* Sioux City, Iowa, has been recognized as a top U.S. economic community for areas between 50,000 and 200,000 people.

* Cleveland, Ohio, is home to the Rock and Roll Hall of Fame.

* Muncie, Ind., has gained notoriety for its successful prep sports programs.

* Norfolk, Neb., is home to many healthcare and manufacturing companies.

* Kansas City, Mo., is just behind Rome, Italy, for the largest number of fountains in a city (more than 200).

* Canton, Ohio, is home to the Professional Football Hall of Fame.

* Port Huron, Mich., features the School of Strings, which presents over 50 concerts a year with its Fiddle Club, Faculty and Student Ensembles.

* Topeka, Kan., was once temporarily renamed "Topikachu," in honor of the Pokémon franchise.

* Homeownership Affordability: In total, there are 85 U.S. markets in the HLR with average reported listing prices less than $200,000. There are 183 markets (out of a total of 296 surveyed) that are less than $300,000.

* Great Midwest: Michigan has three markets on the most affordable housing list (Detroit, Grayling and Port Huron), and all 10 of the most affordable markets are in the Midwest.

* Low Monthly Payments: Put in perspective, a $200,000 30-year-fixed mortgage at a 4.5% rate could cost a buyer a relatively low monthly mortgage payment of just above $1,000. The average $68,000 four-bedroom, two-bathroom home in Detroit could average less than $350 a month.

* Pacific Paradise: Out of the 10 most expensive real estate markets, six are from California: Newport Beach, Palo Alto, San Francisco, La Jolla, Pasadena and Santa Barbara.

* Above $750,000: The survey included 25 housing markets where the average listing price for the subject home was more than $750,000, including 10 markets whose average listing price exceeded $1 million.

Originally posted HERE at RIS Media.

John Hatcher
Keller Williams Realty - The Hatcher Group
6 Deering Street | Portland, Maine 04101
207-775-2121 Office | 207-775-2122 Fax
http://JohnHatcher.us
John@JohnHatcher.us

Monday, September 27, 2010

Key Community is 4.750% fixed for 30 years with down payment as low as $500 and no mortgage insurance!

Rates are based on 60 day pricing;
Call me for a specific scenario and APR.
Interest rate buy down (if available) noted under current rate.

30 Year Key Community Loan (as little as $500 down payment) is 4.750% with no MI
Buy the rate down to 4.500% with 0.750 point or $750.00 on a loan of $100,000.00;

15 Year Key Community Loan (as little as $500 down payment) is 4.250% with no MI
Buy down the rate to 4.125% with 1.000 point or $1,000.00 on a loan of $100,000.00.

30 Year Conforming Loan (20% min down payment) is 4.500%
Buy the rate down to 4.250% with 1.000 point or $1,000.00 on a loan of $100,000.00;

15 Year Conforming Loan (20% min down payment) is 3.960%
Buy down the rate to 3.750% with 0.750 point or $750.00 on a loan of $100,000.00;

30 Year Jumbo Loan (20% min down payment) is 5.250% to $729,000
No rate pay down published;

15 Year Jumbo Loan (20% min down payment) is 4.625% to $1,500,000
No rate pay down published;

30 Year FHA Loan (3.5% min down payment) is 4.650%
Buy down the rate to 4.340% with 1.000 point or $1,000.00 on a loan of $100,000.00;

15 Year FHA Loan (3.5% min down payment) is 4.500%
Buy down the rate to 4.000% with 0.125 points or $125.00 on a loan of $100,000.00;

John Hatcher
Keller Williams Realty - The Hatcher Group
6 Deering Street | Portland, Maine 04101
207-775-2121 Office | 207-775-2122 Fax
http://JohnHatcher.us
John@JohnHatcher.us

Friday, September 24, 2010

Why now is a good time to buy (Part 10)

Recent decline in home sales: Perfectly predictable
While many in the media have run with the temptation to attribute the summer sales lull to a
deteriorating housing market, economists are looking at the big picture and pointing to an inevitable outcome of the expiration of the $8,000 first-time home buyer tax credit, which went into effect in January of 2009 and expired April 30, 2010.
Throughout 2009, the pace of home sales picked up as buyers and real estate agents latched onto the program, topping 5 million in July of 2009 and then peaking at 6.5 million in November of 2009, the month that the program was originally slated to expire. The expiration of the tax credit on April 30, 2010 led to a sharp decline in May sales and an even more significant drop in June and July.
Following July’s 27 percent drop in sales, the National Association of REALTORS® reports that
pending home sales for August are up 5.2 percent.

Vive la lull!
Back in the heyday when housing was hot, properties were snatched up the second they hit the market and prices were going up and up and up, it was an “exciting” time to buy a home. And then, the bubble burst, the market cooled and housing went from speculative to safe again, from volatile to sensible, from a place to flip to a place to live.
Far better options by any measure for the smart buyer who knows how to recognize an
opportunity when they see one!
John Hatcher
Keller Williams Realty - The Hatcher Group
6 Deering Street Portland, Maine 04101
207-775-2121 Office 207-775-2122 Fax
http://JohnHatcher.us
John@JohnHatcher.us

Thursday, September 23, 2010

New Portland Listing with many uses


John Hatcher
Keller Williams Realty - The Hatcher Group
6 Deering Street Portland, Maine 04101
207-775-2121 Office 207-775-2122 Fax
http://JohnHatcher.us
John@JohnHatcher.us

Buildable Land in Scarborough


John Hatcher
Keller Williams Realty - The Hatcher Group
6 Deering Street Portland, Maine 04101
207-775-2121 Office 207-775-2122 Fax
http://JohnHatcher.us
John@JohnHatcher.us

Why now is a good time to buy a home (Part 9)

Home ownership remains at the core of the American Dream
A recent Fannie Mae study reveals that the majority of Americans still aspire to own a home
– and for good reason. Owning a home is critical to financial stability and wealth building.
A home serves as a forced savings account and provides a solid asset, as well as a place to live. Despite the recent market upheaval, the vast majority of Americans still consider home ownership to be important to the economy and preferable to renting. Since the end of World War II, promoting home ownership has been high on the list of the federal government’s priorities, and will continue to be so.
As the graph below points out, the rent vs. buy equation needs to also take into account that rents are subject to increase every year, and mortgage payments remain fixed throughout the life of the loan*. Another key factor in the affordability picture is the federal tax deductibility of mortgage interest, which amounts to an annual savings of thousands of dollars for the average homeowner.
*Based on the purchase of a $200,000 home with 10% down on a 30-year fixed-rate mortgage.


John Hatcher
Keller Williams Realty - The Hatcher Group
6 Deering Street Portland, Maine 04101
207-775-2121 Office 207-775-2122 Fax
http://JohnHatcher.us
John@JohnHatcher.us

Wednesday, September 22, 2010

Why now is the right time to buy (Part 8)

Ownership costs are dropping below rental costs!
The recent downturn in the housing market resulted in a drop in rental rates, but rents are
back on the rise while the cost of home ownership has dropped.
As the chart below indicates, as average apartment rental rates have slightly decreased, the
decline has been moderate in comparison to home values, which have declined nationwide
by 30 to 40 percent since the peak of the housing boom.
John Hatcher
Keller Williams Realty - The Hatcher Group
6 Deering Street Portland, Maine 04101
207-775-2121 Office 207-775-2122 Fax
http://JohnHatcher.us
John@JohnHatcher.us

Tuesday, September 21, 2010

Why now is the right time to buy (Part 7)

Lenders are back in the game!
The subprime mortgage crisis brought underwriting standards back into the mortgage origination process. And while the final quarter of 2009’s financial meltdown led to a sense that financing had dried up, mortgage funds are now available.
“If you have a job and can afford the payment, chances are you’ll qualify for a mortgage,” says
David Reed, a mortgage banker and author of Mortgage Confidential: What You Need to Know That Your Lender Won’t Tell You.
Also noteworthy is the recent drop in jumbo mortgage loan rates and an uptick in the high-end
of the housing market. The sector which was not bolstered by the $8,000 first-time home buyer tax credit is faring quite well, providing further evidence that the recent sales setback is simply a function of the market readjusting to the expiration of the tax credit.

John Hatcher
Keller Williams Realty - The Hatcher Group
6 Deering Street Portland, Maine 04101
207-775-2121 Office 207-775-2122 Fax
http://JohnHatcher.us
John@JohnHatcher.us

Monday, September 20, 2010

Why now is a good time to buy (Part 6)

Sellers are motivated!
When supply exceeds demand, buyers have the upper hand–and that’s where we are now!
The current supply of homes for sale now stands at 12.5 months, meaning that at today’s pace of home sales, it would take 12 and a half months for the existing inventory to sell.
At the same time, recent market upheaval has given rise to a surplus of foreclosed properties that banks are eager to sell, and an increasing number of listing agents are also negotiating “short sales” with banks to sell their clients’ properties at a price that’s less than what they owe on their mortgage. Collectively known as “distressed properties,” short sales and foreclosures are available at every price range and tend to sell for an average of 20 percent below market value – and sometimes much more.
Distressed properties are now part of the mainstream of real estate transactions. According to the National Association of REALTORS®, 32 percent of all homes sold since the beginning
of 2010 have been either a short sale or a foreclosure. So now’s the time for smart buyers who are looking for a deal to seize the opportunity!
What does this mean for you as a buyer? This means lots of choices, lots of negotiating power
and that smart sellers are fiercely competing for your business, both in terms of the price and the condition of their homes.

John Hatcher
Keller Williams Realty - The Hatcher Group
6 Deering Street Portland, Maine 04101
207-775-2121 Office 207-775-2122 Fax
http://JohnHatcher.us
John@JohnHatcher.us

Sunday, September 19, 2010

Why now is a good time to buy (Part 5)

Prices are trending back up
Every major price index points to a housing market that has hit bottom and is moving in a positive direction. After 30 months of declining values, home prices appear to be stable or appreciating in nearly every U.S. market. In August of 2010, the median home price was $182,600, amounting to an 11 percent increase over the low that was reached in February of 2010 at $164,000. Standard & Poor’s Case-Shiller index reported during the first week of September that home prices were up in 15 of the top metropolitan areas, amounting to a nationwide gain of 4.2 percent over this same time last year. In other words, staying on the fence and waiting for prices to drop further is OVER!
“The market is probably going to zig and zag a little for the next six months, but it’s not
going to drop any further.” -William Wheaton, Professor of Economics and Real Estate, MIT, Boston, Mass.
John Hatcher
Keller Williams Realty - The Hatcher Group
6 Deering Street Portland, Maine 04101
207-775-2121 Office 207-775-2122 Fax
http://JohnHatcher.us
John@JohnHatcher.us

Saturday, September 18, 2010

Why now is a good time to buy! (Part 4)

Mortgage rates are at rock bottom and won’t stay there forever!
The national average on a 30-year fixed-rate mortgage dropped to 4.36 percent in Aug 2010 – lower than it’s been in the past half century. Interest rates for the same time last year averaged 5.19 percent, representing a difference of $90 in the monthly payment on a $200,000 home with 10 percent down, as well as a savings of $32,460 over the life of the loan.

How Low Can They Go?
Doug Duncan, Fannie Mae’s chief economist, notes that the current market is highly
favorable for home buyers. “Interest rates are at historic lows. It’s hard to imagine rates
going any lower than they are now. House prices have come down considerably, and if your
credit is good, there’s lots of money available.”


John Hatcher
Keller Williams Realty - The Hatcher Group
6 Deering Street Portland, Maine 04101
207-775-2121 Office 207-775-2122 Fax
http://JohnHatcher.us
John@JohnHatcher.us

Friday, September 17, 2010

Why now is a good time to buy (Part 3)

For individual home buyers, there are only a few facts that really matter:
• Can I afford this home?
• Is it a good investment?
• Does it meet my family’s needs?
So it’s a bit surprising that the most important housing statistic has gone largely unreported: homes have never been more affordable. Affordability, measured by the median mortgage payment on the current medianpriced home ($182,400) as a percentage of the median household income ($64,400), is lower than it’s been in a generation. The chart below, which tracks housing affordability for the past 10 years, shows incredible improvements in affordability since the height of the real estate boom in 2006.

Buyers have the edge!
“Home buyers over the past year got a great deal, and buyers for the balance of this year have an edge over sellers. Affordability could reach a generational high in the second half of this year because of rock-bottom mortgage interest rates, helped partly by the Fed’s very accommodative monetary policy.” -Lawrence Yun, Chief Economist, The National Association of REALTORS®
John Hatcher
Keller Williams Realty - The Hatcher Group
6 Deering Street Portland, Maine 04101
207-775-2121 Office 207-775-2122 Fax
http://JohnHatcher.us
John@JohnHatcher.us

Thursday, September 16, 2010

Why Now is a goos time to buy a home! (Part 2)

Why NOW is the Prime Time to Buy!
Home affordability is at an all-time high. The median mortgage payment on the median priced
home as a percentage of the median household income is lower than it’s been in a generation.
Mortgage rates are at rock bottom. It’s hard to imagine interest rates going much lower, and
when they start to inch back upwards, monthly payments and total loan costs will spike upwards.
Home prices are back on the rise. After declining for 30 months, home prices are trending back
upward. The time get in to the market is NOW!
Sellers are motivated. This means that buyers have the upper hand! From banks looking to
dispose of foreclosed properties to homeowners who are fiercely competing among an excess of
housing inventory, buyers have untold choices and negotiating power.
Financing is readily available! Banks are back in the game and ready to lend to well-qualified
buyers.
Owning vs. renting is increasingly favorable. Since 2009, the average principal and interest
payment has fallen below the average rental rates, and the gap is now wider than it’s been in the past 22 years.
Homeownership is still at the core of the American Dream! Owning a home is critical
to financial stability and wealth building. It’s a forced savings account, a place to live and a
fabulous tax deduction.

John Hatcher
Keller Williams Realty - The Hatcher Group
6 Deering Street Portland, Maine 04101
207-775-2121 Office 207-775-2122 Fax
http://JohnHatcher.us
John@JohnHatcher.us

New West End Listing...


John Hatcher
Keller Williams Realty - The Hatcher Group
6 Deering Street Portland, Maine 04101
207-775-2121 Office 207-775-2122 Fax
http://JohnHatcher.us
John@JohnHatcher.us

Wednesday, September 15, 2010

Why now is the right time to buy! (Part 1)

No doubt you’ve heard the news:
the housing market hit a rough patch this summer. Sales of existing homes declined at a rate that took many by surprise, sending pundits into a “what’s next” tailspin.
As the prognosticators pondered, savvy buyers didn’t miss a beat. They got that the doomsayers were taking a onedimensional view of the buyer’s market and that market skittishness gives rise to an even more favorable climate for buying a home.
Recent history has reframed some of what had long been taken for granted about buying a home. Namely, we’ve learned that even though buying a home remains one of the best and safest investments available, a home should not function as an ATM or a short-term speculation strategy.
So, where does that leave us? A lot smarter, able to recognize an opportunity when we see one, and aware of the facts that point to NOW as the prime time to buy a home.
Doug Duncan, Fannie Mae’s chief economist, contends that further intervention at the federal level will be counterproductive. At today’s rock-bottom rates, buyers stand to save $8,000 many times over during the course of a 30-year mortgage.
Part 2 tomorrow!
John Hatcher
Keller Williams Realty - The Hatcher Group
6 Deering Street Portland, Maine 04101
207-775-2121 Office 207-775-2122 Fax
http://JohnHatcher.us
John@JohnHatcher.us

Saturday, September 11, 2010

Absentee Ballot Applications Available

All registered Maine voters can now apply for an absentee ballot for the November 2nd election. Absentee ballots will be mailed to voters who have requested them when they arrive from the Secretary of State near the end of the month. Registered voters can request an absentee ballot by phone, fax, or in person at the City Clerk’s Office. The absentee ballot application is available online at http://www.portlandmaine.gov/voter/absentee.pdf. Voters may also request an absentee ballot by email at http://www.maine.gov/cgi-bin/online/AbsenteeBallot/index.pl.

College students interested in voting this election should consider applying for an absentee ballot before leaving the state. Parents visiting a college student may request a ballot in writing and bring it to their child at school. The ballot can be brought back with the parents after voting or returned by mail. Voters living overseas should make sure to return their ballots with enough time to ensure that they are received by the City Clerk by 8:00 PM on Election Day.

To receive an absentee ballot, you must be a registered voter. To register to vote in Portland, you must bring identification and something that shows a current Portland address to the City Clerk’s office. A driver’s license or state identification card with the current address meets both criteria; otherwise, a checkbook, car registration, or personal mail addressed to the applicant at the current address will suffice. On Election Day, Portland residents can register to vote at their polling place.

Polling places may have changed since voters last voted. To check the location of your polling place, go to www.portlandmaine.gov/voter/distlook.asp.


John Hatcher
Keller Williams Realty - The Hatcher Group
6 Deering Street | Portland, Maine 04101
207-775-2121 Office | 207-775-2122 Fax
http://JohnHatcher.us
John@JohnHatcher.us

Friday, September 10, 2010

New Falmouth Maine Listing


Custom designed Cape in private country club setting.Formal living & dining rooms, open kitchen family room, additional 1st floor study/den/music room. Master suite w/walk-in closets. Additional bedrooms, 2nd floor media room or office. Move In Condition.
John Hatcher
Keller Williams Realty - The Hatcher Group
6 Deering Street Portland, Maine 04101
207-775-2121 Office 207-775-2122 Fax
http://JohnHatcher.us
John@JohnHatcher.us

Thursday, September 9, 2010

Hong Kong & Taiwan: A Balancing Act

Vacations are a great test for relationships. After twenty-five years of traveling around the globe, my husband and I have learned to compromise. When I was arguing for a Hong Kong trip last year (I think the term shop till you drop was invented here), Richard’s face fell, until I mentioned Taiwan, the hot new eco-tourism site.
Less than two hours by plane from Hong Kong, Taiwan is increasingly popular thanks to new biking trails, natural hot springs locals believe will cure your physical and emotional ills, and glittering new shopping shrines giving Hong Kong a run for its money. Both locations are friendly, safe, and easy for English language speakers to navigate.
Hong Kong is my version of an adult Disneyland, a non-stop colorful parade with the streets as crowded at 4 AM as 4 PM. Most of the markets sell souvenirs, which every vendor will guarantee bring buyers good luck. Of all the street fairs, Temple Street Night Market is my favorite. It’s the place to watch costumed opera singers perform and have your fortune told. My palm reader said I would only marry once and always be comfortable financially. Can you think of a better reason to shop the next day?
Of all the stores I’ve visited in my life, from Auckland to Zurich, my favorite is in Hong Kong. Shanghai Tang is now located around the world, but the original is in the Pedder Building. The prices descend as you make your way down the narrow building, from custom imperial tailoring at the pinnacle to gift items in the cellar.
My husband insisted we couldn’t shop 24/7, so I agreed to take a break and ride the Peak Tram. The most popular tourist activity in Hong Kong, it’s a quick, steep ride up the mountainside, providing panoramic views of the city.
Since the comfortable Langham Hotel was our home away from home, we only had to walk five minutes for Rich’s next request, a ride into the past on an authentic sailing junk through the Victoria Harbour. Typical of boats that sailed 150 years ago, The Aqua Luna, with its distinctive red sails, is the perfect spot from which to watch the nightly Symphony of Lights, a laser music show bouncing off dozens of skyscrapers and reflecting off the water.

Read more HERE at Home by Design

John Hatcher
Keller Williams Realty - The Hatcher Group
6 Deering Street | Portland, Maine 04101
207-775-2121 Office | 207-775-2122 Fax
http://JohnHatcher.us
John@JohnHatcher.us

Wednesday, September 8, 2010

Data Turns Rates Higher

After falling for several weeks, stronger than expected economic data caused mortgage rates to turn a little higher late this week. Upside surprises in important labor market, housing, and manufacturing reports were negative for mortgage markets and positive for stocks.

Following Friday morning's better than expected Employment report, mortgage rates moved higher. Against a consensus forecast for a decline of 110K jobs, the economy lost 54K jobs in August. Temporary census workers accounted for a loss of 114K jobs, and the private sector added 67K jobs. The June and July figures saw significant upward revisions as well. The Unemployment Rate rose to 9.6% from 9.5%, matching expectations, as the labor force grew by about 550K workers.

After several months of housing data which has failed to meet expectations, this week's data contained relatively good news. Investors were expecting July Pending Home Sales to remain at June's record low levels, but instead they rose 5% from June. Pending sales are a leading indicator for the housing market, so home sales may pick up a little in coming months. The chief economist of the National Association of Realtors (NAR) expects "improved affordability conditions" to boost home sales, but warned that a housing market recovery will be a "long process."

Also Notable:

  • The Core PCE inflation index rose at a low 1.4% annual rate

  • As expected, the European Central Bank (ECB) made no change
    in rates

  • The Fed minutes showed that Fed officials were divided at the
    Aug 10 meeting

  • The Treasury will auction $67 billion in 3-yr, 10-yr, and
    30-yr securities next week

This Week

After a busy week last week, the Economic Calendar will be very light this week. The Fed's Beige Book will come out today. The Trade Balance will be released on Thursday. There will be Treasury auctions on Tuesday,Wednesday, and Thursday. Mortgage markets were closed on Monday for Labor Day.


John Hatcher
Keller Williams Realty - The Hatcher Group
6 Deering Street | Portland, Maine 04101
207-775-2121 Office | 207-775-2122 Fax
http://JohnHatcher.us
John@JohnHatcher.us

Monday, September 6, 2010

Happy Labor Day!



Happy Labor Day, I hope you enjoy your day off!

John Hatcher
Keller Williams Realty - The Hatcher Group
6 Deering Street Portland, Maine 04101
207-775-2121 Office 207-775-2122 Fax
http://JohnHatcher.us
John@JohnHatcher.us

Thursday, September 2, 2010

First Friday Art Walk

The Gallery at
presents
Chris Nielsen
in
Cape Elizabeth And Her Neighbors
Artists’ Reception * First Friday Art Walk * September 3rd * 5 – 8 pm * Exhibition through September
584 Congress Street * Portland
(207) 774 5948

Race with the Tide – Two Lights



John Hatcher
Keller Williams Realty - The Hatcher Group
6 Deering Street | Portland, Maine 04101
207-775-2121 Office | 207-775-2122 Fax
http://JohnHatcher.us
John@JohnHatcher.us

Wednesday, September 1, 2010

Kitchens have long been among the most popular remodeling projects. But with fewer clients requesting kitchen upgrades during this recession, one kitchen designer has turned the economic slowdown to her advantage.

"If I couldn't remodel as many client kitchens as usual, I decided to remodel my own showroom. That way, I'd be ready to show the latest trends and the most exciting new products when this down period ends," said Joan DesCombes, president of Architectural Artworks in Winter Park, Fla.

The result is a showroom fitted with latest looks and innovations in cabinetry, counter tops and appliances from upscale lines such as SieMatic, Sub-Zero, Wolf and Miele. Add state-of-the-art lighting and electronics, and you have the essential elements for the 21st-century dream kitchen.

Of course, not every budget can afford those high-end brands. But, as with fashion and automobiles, the top-of-the-line products set the trends. The styles, materials, colors and technical advances seen in luxury showrooms today inspire the more-affordable versions that show up in the big-box stores tomorrow.

Most strikingly, Descombes' model kitchens don't look like typical, traditional kitchens. Appliances are fully integrated into the cabinetry. You see no telltale dishwasher dials and switches, no refrigerator door handles and ice-dispensers. Or fridges and ovens are designed to look like the freestanding cabinets or sideboards. Even the sophisticated finishes and colors on cabinetry seem more like those you'd find in an elegant living room than the kitchen.

That's because the kitchen has become a kind of surrogate living room in today's homes, said DesCombes. It's where families, cook, eat, relax and entertain. And in today's open-plan home designs, homeowners prefer kitchens that blend with adjacent spaces — living and dining areas, bars and patios.

"We spend a lot of time in the kitchen," said Judy Yarmuth of Winter Park, Fla., whose kitchen was recently renovated by the Architectural Artworks team. "It's the center of the house. We have a lot of dinner parties. While I'm cooking, it's the place to be."

The entire kitchen was designed around the refrigerator, she said. But hers is no ordinary icebox. Designed to look like a classic Chinese wedding cabinet with a walnut finish, it is typical of the freestanding pieces likely to become popular in coming seasons.

"It's stunningly beautiful and different," said Yarmuth. Together with a backsplash of tan/gold Jerusalem stone behind the range and a massive slab of dark wenge wood set into the stone-composite island, the refrigerator cabinet warms up the otherwise white-on-white kitchen "and makes it just yummy."

Of course, a dream kitchen doesn't just look beautiful. "It has to function for each individual client," said DesCombes. "I need to know all about their lifestyle. Are they great cooks, don't cook, use caterers? Do they have pets and where do they keep the dog food? Everything."

When she redesigned the kitchen in the Melbourne Beach, Fla., house of Charlie and Carol Draper, she replaced the enclosed, traditional design with an open, low-maintenance space. She also installed horizontal-grain cabinets with stainless-steel channels in lieu of hardware, which draw the eye across the room to the panoramic ocean views.

"It's an incredibly workable kitchen," said Carol Draper. "Joan moved the island a little. She got rid of some cabinets so the eating area was no longer separate. Now the whole thing just flows. When you're cooking, it doesn't even seem like work."

KITCHEN-DESIGN TRENDS
Counter tops: Stainless steel, antiqued marble, lava stone, wood, concrete, mosaics and flamed granite with a textured, matte finish.

Cabinetry: Fewer overhead cabinets. Lift-up or sliding doors, self-closing drawers, glass-fronted cabinets and glass shelving, tracks inside doors for attaching storage accessories, pantires with multiple storage options. Fresh finishes, from smooth, high-gloss and matte lacquer, to textured, horizontal-grain laminates.

Appliances: Free-standing accent pieces and fully-integrated designs that blend with cabinets. Fridges with more crisper space, less freezer space; combination gas/electric ranges; designer range hoods; super-quiet dishwashers; specialty sink faucets; luxury items such as warmer drawers for coffee mugs.

Lighting: Combinations of soft incandescent, bright halogen and cool, energy-efficient LED bulbs.

Colors: Warm neutrals such as walnut, slate, sand, greige, celadon and magnolia.

Architectural elements: Wall niches and bump-outs for housing coffee machines, juicers, dinnerware, herbs, spices and collectibles.

John Hatcher
Keller Williams Realty - The Hatcher Group
6 Deering Street | Portland, Maine 04101
207-775-2121 Office | 207-775-2122 Fax
http://JohnHatcher.us
John@JohnHatcher.us