Innovative Bowdoin housing program sees first loan closing with Chris Davis
Portland, Maine - April 2, 2024 - Chris Davis of Places in Maine Real Estate Group in Portland successfully closes the first home under the Bowdoin College first-time homebuyer initiative. “An amazing program! This has been a seamless transaction and I can’t wait to watch other Maine businesses follow in the footsteps of Bowdoin College.” said Davis. Earlier this year Bowdoin, the renowned private liberal arts college in Brunswick, announced its new first-time home buyer assistance program aimed at alleviating the challenges faced by employees looking to purchase a home. This program offers a forgivable loan for eligible buyers for up to 10% of the purchase price of the home within 40 miles of the college campus.. Chris Davis—team lead at Places In Maine Real Estate Group—has been instrumental in spreading the word and praise of this program, the first of its kind in the state. “In the competitive real estate market we find ourselves in, this program provides the edge our clients need. It just makes sense for employers that are looking for quality, long-term employees! Taking away the stress of finding a rental within commuting distance, inflated rental prices, and the fatigue of multiple-moves puts a strain on employees. Giving them the upper-hand in this market is the ultimate “thank you” and show of faith, by meeting their hires much more than half way.” This initiative not only helps address the housing crunch in the area but also increases employee attraction and retention efforts by providing a pathway to homeownership. Eligible properties include single-family, condominiums, and mobile homes that will be affixed to the employee’s land.This level of flexibility allows for many desirable options within the 40 mile radius boundary set by the school. By partnering with local financial institutions like Kennebec Savings Bank or Bath Savings, Bowdoin has brought a nationwide trend of Employer Housing Solutions to Maine. An allocation of approximately $1 million for the program’s first year demonstrates the college’s commitment to addressing the housing challenges in the state, but the College has an established mechanism to provide the loans to employees even if the loans exceed $1 million in the first year. Davis continued, “We look forward to helping many Bowdoin-bound faculty find their first-homes this year and beyond. And we will continue to support and boast about this program until we see many other amazing Maine companies & institutions join the ranks”. For more information about Bowdoin College’s First-Time Home Buyer Assistance Program, please visit Bowdoin College Housing Assistance Program. Chris Davis is the Team Lead for Places In Maine Real Estate Group, with Real Broker LLC. He has been a top producing agent in Southern Maine since 2020 and Places In Maine was ranked as a “Top 10 US Small Teams” in the USA for Real Broker. Real Broker is the fastest growing publicly traded Real Estate company in America. www.placesinmaine.com
Moving to Maine: Turn up the HEAT
Maine is located in a colder climate than most parts of the United States, and we have found with a majority of our out of state clients that are relocating to Maine for a new way of life…that they have many questions about HEATING. In this post, we will break down the 4 most common types of household heating we find in Maine homes. But first, we must dispel a common misconception in heating, and that is the often interchangeable use of furnace and boiler. These are two very different types, and the simple way to think of it is: Boiler - this heats water that then gets distributed throughout your house, usually through baseboards Furnace - this heats the air, that is then sent throughout your house, through a duct system Oil Furnace/Boiler - Maine has long been a state that relies of #2 Oil to heat our homes. For this type of heat, a homeowner will have an oil tank in their house, usually in their basement, that gets filled by a delivery truck, 2-4/year depending on usage. The oil goes from the tank, to the furnace or boiler, via a thin copper pipe that is wrapped in a protective sleeve (this is a building code requirement). Gas/Propane Boiler - Natural gas is becoming more present in our state, especially in the larger cities. Where natural gas isn’t available, bottled gas, is very common. The benefit of gas boilers, is they can be vented out the side of the house through PVC, and don’t require a typical stone chimney that we often see with Oil Boilers. We see gas boilers in new construction almost every time, as it is more cost efficient when you don’t need to build a chimney. Heat Pumps - These have grown in popularity and have been highly incentivized by a non-profit called Efficiency Maine. Heat pumps, despite their name, also do cooling. They are a more efficient use of electricity than the 1980’s electric baseboard, and provide year round cooling. Wood! Yes, many of us Mainer’s still love our woodstoves and fireplaces. But did you know there is another way to use wood, without the chopping? Pellet stoves are popular, and use a local produced wood pellet to create heat. Pellet stoves can be filled with pellets and then slow released out of the hopper, which means less visits to the stove during the day. There you have it. These are 4 ways to heat your home in Maine. There are other ways of course, but this is what we see the most.
Growing Again! Places in Maine Welcomes Paul Davis
We are so excited to announce that Paul Davis, father of Team Lead, Chris Davis, has officially joined the team. Paul moves on from a successful career of 34 years in the office machine business, where he bought a small company in the early 90's that led to multiple successful mergers, and he has formally retired from Canon to join the team. Paul Davis It's a magical moment for the team, especially for Chris, to have his Dad excited to come aboard. Paul has decades of proven sales success that will undoubtedly elevate the experience our team provides. He is also really good at making pies, watching his grand children, running, volunteering at church and alongside his wife Sarah, (shout out to my amazing mom!) supporting their family with endless love and support. Welcome aboard Paul! Your timing couldn't be anymore perfect. And with the addition of Paul, the team is now a mighty group of four, with Chris and Paul Davis plus Alex Hoyt and Kirk Duke. Alex Hoyt, Kirk Duke, Chris Davis, and Paul Davis
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