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WordenRealty
ERA
The Most Experienced Agency in the Area — more than 12,000 Homes SOLD!
473 Center Street, Auburn Maine 784-0159
Carl Beckett
Bill Bergeron
Crystal Bergeron Connie Boucher Marge Bourgoin
Denise & Norm Brodeur
Bob Brown
Sun Journal, Saturday, March 8, 2003
Laurie Castonguay
Kristina Daigle
Laurie Danforth
Joe Daniels
Helen Davidson
Believing in Central Maine By LINDA GALWAY Special Sections Editor
Diane Dennis
Steve Drury
Josh Dunn
Melissa Field
Brenda Fontaine
In the midst of an unsettling economy, one real estate company has stepped out in front of the pack and firmly stated “We believe in Central Maine.” Those aren’t just empty words. ERA Worden Realty recently completed a 3,000 square foot expansion at its Center Street, Auburn, location. “A lot of people have asked me, ‘Is that wise?’ ” said owner Tim Worden. Even given the current ups and downs of the economic picture, the need to expand was evident, he noted. “We ran out of space, pure and simple.” Worden explained that in order to grow and be responsive to the needs of the agents working out of the office, he looked at finding another location, “but we made the decision to expand, rather than move, because we couldn’t find another place that gave us the same level of exposure.” In addition, the longevity the company has enjoyed at its current location, just south of the Veterans’ Bridge connecting Auburn and Lewiston, would be hard to replace. “You get comfortable where you are,” he said, “and we’re doing business now with the sons and daughters of our original customers, so I’m comfortable with our decision to stay where people can find us and are familiar with the surroundings. We’re creatures of habit.” Continuity, Worden added, is an important factor in any business, but especially in real estate. This represents the company’s second addition, and within three or four more years, Worden said he hopes to remodel the front portion of the office area. “We will then have virtually a new building,” he said. INTERESTING PHENOMENA ERA Worden Realty experienced “good, solid growth” during 2002, even though that hasn’t been the case in other sectors of the economy. “That’s also a national phenomenon,” noted Worden, “but
there is good, solid evidence we had the best year in our history.” Tim believes Lewiston and Auburn will continue to be viewed in a positive light and as a good place to live and raise a family. “What excites me is the young doctor who lives on Gamage Avenue (Auburn) but has his practice in Portland,” Worden said. “We’re seeing the early stages of Auburn and Lewiston becoming a bedroom community for Portland.” In the past, young urban Portland-oriented professionals wanting to buy their first home would look toward such communities as Standish, Windham, even South Portland or Scarborough, he noted. That was in the past. Now, they’re looking a little farther up the turnpike. “We began expanding our advertising in Portland, and we’re starting to see the fruits of that investment,” Worden said. “Another issue is the excellent quality of our schools here, and the pupilteacher ratio is a plus.” People are buying residential homes, multifamily homes and land. “Real Estate is a long-term investment,” he pointed out, and this trend “is a function of a lot of things making us look attractive.” WEATHER OR NOT? In the real estate world, buying depends a lot on weather, Worden said. “A mild November and December translates to brisk sales,” he added. “This year, transactions have been very good, but with better weather, it could grow even more. Low interest rates are really fueling our business.” Currently, interest rates are hovering around 6 percent or lower; that’s some difference from the mid-1980s when people felt fortunate to secure loans at 12 percent while the going rate was inching up to 18 percent. “There are some huge differences,” Worden explained. “Back then, banks didn’t sell mortgages, and they often didn’t want to lend long-term because they were finding the costs of their funds going up (over the life of the loan). Now, they sell
those mortgages, and that isn’t a concern for them, making the market more fluid.” As low bank rates combine with the largest realestate inventory available, Worden stressed that if people in the market to buy do not want to miss out, they need to be pro-active with their searches. “We’ve listed some properties one night that have sold the next morning,” Worden said. “We have the inventory and we have the experience; you know, people can go onto the Internet and find out all kinds of things - taxes, lot sizes, square footages and town registries. They can find out about buildings, but when you engage a realtor, there are two things to look for.”
Carol Doughty
Sue Dube
TRAINING DAY Worden stresses experience at being able to negotiate the deal and the ability to honestly appraise your home’s worth or the property you are interested in purchasing. “An experienced realtor brings these things to the table, along with the ability to articulate value,” he explained. “Our agents have been around so long that many of them use the team approach. The office manager (Anne Servidio) and I don’t sell real estate any longer. That helps us keep our objectivity, and our mentoring helps the newer agents to be more successful. As the agent’s practice grows and matures, it makes our company stronger.” Worden noted there is a considerable amount of training that goes into “taking a new person from rookie to seasoned agent. It’s born out of a necessity to be cognizant of the explosion of regulations regarding disclosures and various other laws pertaining to real-estate sales.” Essentially, the longevity, continuity and continued presence of ERA Worden Realty assures customers they will be returning to the same building, talking with many of the same people, and finding the same great deals whenever the need arises.
Dot Fernald
Cathy Fifield
Claude Fontaine
ERA Worden Realty— ahead of the pack Quent Hall
Julia Hixon
Elaine Lajoie
Marilyn Larochelle
Tim Worden has more than 30 years in the real estate business. Here he takes time Tim Worden out from a busy schedule to Broker/Owner answer several questions regarding the real estate market in Central Maine — its past, present and future: It's been said that owning your own home is the “American Dream.” How does ERA Worden Realty help the public accomplish this goal, beyond serving as the vehicle through which they find houses or land for sale? ERA Worden Realty takes an active role in the community, serving on boards and with memberships in service clubs, to help protect private property rights at the local level. Worden also belongs to the National Association of Realtors dedicated to protecting property rights at the national level. Housing sales appearing to continue to be the best they have
been in years, despite concerns about the economy. What is driving these sale? The lowest interest rates we’ve seen at Worden Realty in the last 20 years, plus outstanding job diversification, helps ERA Worden Realty agents qualify more buyers than ever before. How is the housing market in Central Maine doing during this time? What is the average house selling for in this region? The housing market in Central Maine is very healthy, with more sales at Worden this year than last and an average sale price of $112,000, up seven percent over last year. How do you encourage buyers to consider this region? What are its strong points? We encourage buyers to come to Worden Realty because we are only 30 minutes from the ocean, two hours from Boston, and a mere 40 minutes from Portland. Outstanding schools and a wide variety of homes for sale draw people here from beyond the immediate Lewiston-Auburn area. Is pre-qualifying almost a prerequisite?
Steve Morgan
Nicole Lussier
John & Christine Marcous
Sue Meservier
Faye Searles
Anne Servidio
Richard Stroud Michelle Therrien
Worden Realty has an exclusive home qualifying method for anyone interesting in buying their first home or moving into another one. ERA Worden Realty also sells more homes to first-time buyers than any other agency in Central Maine. What’s happening with supply and demand in the area? Supply and demand in the Lewiston and Auburn real estate still reflects a seller’s market, with fewer properties for sale and premium pricing for listings that do come to market. Are the difficulties the stock market is experiencing having an effect on the real estate market? Absolutely. More investors are coming to ERA Worden Realty these days. Real estate is realizing a solid, healthy, long-term appreciation. What role can ERA Worden Realty play in bringing industry to a particular area? We market to out-of-state commercial buyers, and we articulate the positive aspects of the area, giving them tangible reasons to move here instead of alternate locations. Why hire ERA Worden Realty when so many people believe they
can sell their property themselves and save the commission? Realtors at Worden Realty negotiate a fair price for both buyers and sellers, helping sellers arrive at a price that will maximize their return and ensure there will not be legal repercussions in the future. Worden Realty exposes your home nationally and internationally, helping to guarantee you a higher price. What are some of your goals for the next 5 years? ERA Worden Realty plans to become a “one stop shopping center” so people can have all the details of a real estate transaction taken care of at one time and in one place. Finally, what if someone is interested in breaking into the real estate sales business. How do they go about it, and what is the best procedure for them to follow? Worden Realty hires more new agents than any company in Central Maine. We have an in-house trainer and full-time sales manager. These people don’t compete with new sales people, so they can objectively bring them into the business.
Lori Hart
Steve Hussey
Angie Larochelle
Clayton Larochelle
Mary Ann Norcross
Bert Ouellette
Claire Poussard
Dan Ridley
Maurice Rioux
Chris Rizzolo
Conrad Robitaille
Sue Robitaille
Jim Thompson
Lew Trask
Ben Watson
Beth Watson
Kathy White
Dale Wilson
Sheila Woodard
Judy Worden