Central Maine Blog

EPA RENOVATION, REPAIR AND PAINT RULE : EPA adopted new regulations in 2008 that took effect April 22, 2010. They establish lead safe work practices for contractors doing renovations that will disturb paint in pre-1978 residential properties. The contractors have to be certified/trained by EPA on proper techniques to avoid spreading lead paint hazards and have to give the homeowner/tenant a copy of a new EPA lead pamphlet before undertaking the work. While the regulations do not directly regulate real estate brokers, they will have to make their buyer and seller clients aware of the new requirements if work is being done or is going to be done as part of a transaction. They will need to make sure any list of area contractors they use includes EPA-certified contractors for pre-1978 homes. They will also need to make sure that the results of any testing done in connection with the renovations are disclosed as part of the existing Residential Property Lead Paint Disclosure process. NAR has a video program that explains the regulations plus a FAQ. Go to: http://www.realtor.org/government_affairs/lead_paint_main

EPA "RENOVATE RIGHT" PAMPHLET: Here's the EPA "Renovate Right" pamphlet, which includes a certification form renovators can use to comply with the new lead paint rules for renovations and repairs - http://www.epa.gov/lead/pubs/renovaterightbrochure.pdf

Statewide Median Sale Price Increases 3.41%
SOUTH PORTLAND (May 24, 2010) - Sales of Maine single-family existing homes rose 62.95 percent in April 2010 compared with April 2009. According to the Maine Real Estate Information System, Inc. (MREIS), Realtors sold 994 homes in April 2010; and the statewide median sales price (MSP) for
homes sold increased 3.41 percent to $165,450 from April 2009. The median sales price indicates that half of the homes were sold for more and half sold for less.
     The end of the federal home buyer tax credit contributed to strong sales figures in April 2010.The National Association of Realtors (NAR) reports a 20.5 percent nationwide increase in singlefamily home sales in the same time period. The national MSP rose 4.5 percent to $173,400 in April. In the regional Northeast, sales were up 41.6 percent and the MSP of $243,000 reflects an increase of 2.1 percent.
Following are two charts showing statistics for Maine and its 16 counties. The first chart lists statistics for the month of April only, statewide. The second chart compares the number of existing, single-family homes sold (units) and volume (MSP) during February, March and April of 2009 and
2010.

Maine Real Estate Statistics –April 2010 Housing Report—5/24/10
APRIL ONLY CHART
April 1-30, 2009 – April 1-30, 2010
County # Units Sold # Units Sold % MSP MSP % 2009 2010 Change 2009 2010 Change
STATEWIDE 610 994 62.95% $160,000 $165,450 3.41%
ROLLING QUARTER CHART
From February 1, 2009 – April 30, 2009 and February 1, 2010 – April 30, 2010
County # Units Sold # Units Sold % MSP MSP % 2009 2010 Change 2009 2010 Change
STATEWIDE 1601 2303 43.85% $156,000 $164,000 5.13%
Androscoggin 118 184 55.93% $128,750 $134,711 4.63%
Aroostook 42 62 47.62% $102,750 $90,100 -12.31%
Cumberland 395 586 48.35% $214,900 $219,449 2.12%
Franklin 24 50 108.33% $67,000 $111,950 67.09%
Hancock 52 78 50.00% $145,750 $168,443 15.57%
Kennebec 143 209 46.15% $120,000 $125,000 4.17%
Knox 43 77 79.07% $202,000 $158,000 -21.78%
Lincoln 39 56 43.59% $175,000 $165,000 -5.71%
Oxford 73 104 42.47% $132,000 $124,500 -5.68%
Penobscot 197 253 28.43% $117,000 $128,000 9.40%
Piscataquis 27 43 59.26% $49,900 $65,500 31.26%
Sagadahoc 57 69 21.05% $165,000 $160,000 -3.03%
Somerset 52 65 25.00% $70,300 $81,000 15.22%
Waldo 51 63 23.53% $145,000 $145,000 0.00%
Washington 8 12 50.00% $41,600 $76,000 82.69%
York 280 392 40.00% $179,450 $201,000 12.01%

Source: Maine Real Estate Information System, Inc. Note: MREIS, a subsidiary of the Maine Association of REALTORS, is  statewide Multiple Listing Service with over 4,600 licensees inputting active and sold property listing data. Statistics reflect properties reported as sold in the System within the time periods indicated.