Own Maine Real Estate Blog

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Land In Maine For Sale, How To Manage Your Woodlot.

Being a good steward of your Maine land, the woodlot that is like tree farming.

Where you the owner want to maximize the return, the growth and to remove any restrictions that hurt the wood production. Of the stands that populate your Maine woodlot.horseteammainelandphoto

Treating the timber on the Maine land with respect and passing along the ownership to another family member is part of the good stewardship.

So is working hard to protect the Maine land from soil erosion.

Where soil is washed away and into precious natural resources that hurt fish, damage the quality of a water resource Maine is famous for and proud to protect. 

So your woodlot, when it is time to timber it, harvest the over story and to weed out the too congested or mature trees, careful and easy does it is the order of the day. The simple tractor you use around a Maine farmstead and it's assortment of chains can be a start.

So when twitching the downed tree and dragging it to the yard to process the limbs, ready it for loading on a truck or trailer, other smaller trees are not destroyed or damaged in the process of cutting the Maine woodlot. 

The private Maine land woodlot owner has the time and pride to take the steps to carefully remove the timber that a forestry report outlines as time to harvest. More on the Maine tree growth program.

The Maine woodlot is not just a place to visit in late summer to gather firewood from hardwoods ridges. To be a season ahead of the heating a Maine home. So seasoned wood from the Maine land is dried, cut to match the length of a woodstove in the kitchen, down in the cellar. 

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Gimme Shelter | Real Estate As A Tax Shelter

The Rolling Stones sang about needing shelter, about not getting any satisfaction and lots more emotional, passionate subjects.

But because we list, market, sell real estate listings in Maine, the topic of give me shelter needs plenty of attention. Lots of it under the hot center stage spotlight where we hang out on the Internet, the social media circles.

Because people want to hang on to what they work hard and save up. And part of doing that is knowing, taking all the IRS deductions that are provided for in the current tax codes.alex spud boy maine photo

A tax shelter that involves a real estate property listing.

For starters, we are not tax accountants, bean counters nor do we play one on TV or in real life. Have dealt with 1031 exchange or two though.

But there are lots of resources for using real estate as a nifty tax shelter vehicle to steer around paying too much. To save on what you fork over to the IRS around April 15th every year.

And just because we are not CPA's who we always advise you the faithful reader to consult with for the correct financial planning straight shooting advice.

Does not mean to be scared or skirt around the subject of how to save on your taxes using real estate as one prime way to accomplish that.

The roof over your head, those four walls that contain you is one of the best tax shelters to cut down on what you pay in for taxes.

Your home and it's standard mortgage deductions, your busiess properties with depreciation all chip in and work together to whittle away at your income tax exposure.To improve your bottom line.

Mortgage expenses, property taxes that can be deducted on your income final tally so you don't leave so many empty spaces and add to the forms and schedules attached to what you file with the IRS.

It all revolves around real estate and what is deductible for expenses and how you apply those deductions.

When the final number on what you still owe the feds and the state. Or may be lucky enough to trigger a return check in your name delivered to you for over payment and a refund of any size. Money back and not tapped on the shoulder to pay in is always a good feeling when you finalize your income taxes each early spring right?

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Mineral And Water Rights In Maine Real Estate Property Sales.

The calls and emails and letters from areas where they don't always convey in the real estate sale.

Minerals and water rights in a Maine real estate property sale, do they get transferred or retained? maine lake photo

In thirty six years and counting in real estate listing in Maine, I have only had two sales where a seller, grantor did not want to convey the mineral rights. And retained them. Because their grandfather or someone long since gone claimed there is hidden value in those hills.

Once the seller was declared imcompetent by his family and he was convinced there was gold and oil in the Maine land that the family wanted to sell. And that reservation killed the chances of a sale.

Because in Maine 99% of the time up to now, the mineral rights go with the real estate sale title. You get everything in those hills, down in the ground under the land acreage.

Bald Mountain and the thought that there was zinc and magnanese caused a stir, quite a buzz for a while back in the 1980's but the price to extract the ore was too high.

Market value killed the cashing in on the mineral deposits in that area of Northern Maine.

That is the one and only other time mineral right retention in a Maine real estate listing was a contingency of the sale.

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The Rent With Option To Buy Maine Home Buyer, What Can Go Wrong.

The calls, emails, texts come in and the question "got any rent to own, option to buy Maine homes available?"

The discussion moves on to a home for sale in Maine that we have listed and whether the property owner would consider a rent to own arrangement. kids parents boat harbor in maine photos

We have blogged posted about renting vs owning, rental homes in Maine before.

But this post delves into the beyond a month to month tenant at will that is free to come and go with usually a 30 day's notice. And the Maine home owner can give the same amount of notice to say see you later alligator.

Which works well when a listed home in Maine goes under contract to sell.

And the new buyer with his finger's crossed hoping for the key's please is planning on moving in the day of the bank closing.

We see lots of owner financing with Maine land purchases. Have set those seller carried installment sales up on property acreage in Maine for decades now.

With no pre-payment penalty and short term, five years or less generally and smaller purchase prices, not such a large nut to carry monthly mortgage payment.

But buying a home in Maine, and what happens when the purchaser can not get a mortgage loan. It means gotta wait, rent and save up or repair that damaged credit score, debt ratios and whatever is stuck to your financial report for burdocks.

That keep your buyer of a Maine home wannabe from pulling it off. Home sweet home happily ever after.

Or unless they can find a loved one related or not to put the property in their name because they have good enough credit to make the bank go thumbs up. Approved the loan and make everyone happen at a real estate closing.

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Off The Top Of Your Head, Just A Ball Park.

The real estate in Maine seller is asking for a ball park listing valuation over the phone.

Right now. Without the agent, broker, REALTOR seeing the property or what is happening aorund it that affects the listing value in today's market. The question comes up about just give me a ball park, won't hold you to it and right here and now, what's the sticks and bricks worth? Quick like a bunny like we tell the kid's when the Sand Man is waiting.MooersRealtySearch

Over the years the gut feeling and real estate instincts can kick in when pressed but seeing what we are selling, marketing means hold it.

Tour the property listing and look at what is happening across the street. Crank your head up and study those high tension power wires in the backyard. The car up on jacks. And consider the motivation, the time frame of the property owner's expectations. Lots goes into this real estate appraisal process warns Yoda.

When the other end of a real estate phone call or email starts to fill in the blanks, the hand goes up. Gonna take more than just a few responses to some rushed questions over the tin can and string. In the spur of the moment with a hurried email with just a line or two. Hitting send in a split second dash hurry hurry. And expecting ding ding ding, survey says (blank) to get the answer they want drive through quick.

Like people, every property is different due to the fix based location it is parked and the condition and supply and demand of how it plugs into the current real estate market.

Like a diamond, a precious gem stone what's it worth means gotta eye ball the place under the magnifying glass, like using the jeweler's loupe for a complete examination. Turn your head and cough.

Used to eyeball the up and down, sideways and the what's around the property listing story. Being toyed with listing a place means answers to hard questions. Lots of them. Taking very good notes during the asking questions.

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