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Season's Greetings,
As the New Year approaches I am hopeful that we can finally put the market turbulence of October and November behind us. With that said, the ramifications of the near collapse of the financial markets may be felt for years to come. There are many lessons with respect to credit, leverage, liquidity, asset, valuation and speculation that will not be soon forgotten.
As I write this note, the DOW is creeping back towards 9,000 while conventional mortgage rates appear to be headed to 5.25%. There is renewed activity in Maine real estate despite December's seasonally slow reputation. It may be too soon to predict the bottom of the housing market, but we have witnessed transactions closing at prices not likely to be seen again in our lifetime.
For our sellers, the fallout has lead to lower prices for homes that have been on the market. For our buyers, it appears we are close enough to a cyclical low that postponing a purchase decision is ill-advised. There are many buyers on the sidelines waiting for an "official" pronouncement of the market bottom. When, and if, that pronouncement is ever made, most buyers will be trampled by the stampede to buy high quality properties, which are well-priced.
In this issue we highlight the business recruitment firm of Maine & Company and CEO Matt Jacobson. Maine & Company continues to have success in luring business to our great state. We also have provided links to some interesting items from the Sotheby's Auction House. The holiday window shopping in the Diamond exhibit is unparalleled.
As we enter 2009, Legacy Properties Sotheby's International Realty will add to the beautiful collection of listings and markets served. Our branded global distribution will continue to help us bring buyers and sellers together regardless of the market conditions. If we can be of service to you please don't hesitate to contact us.
We wish you the best for a happy and healthy holiday season.
Chris Lynch
Owner & President
Legacy Properties Sotheby's International Realty |
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A B O U T U S
Legacy Properties Sotheby's International Realty is Maine's leader in distinctive properties. With four offices in Kennebunk, Portland, Brunswick and Camden, our clients receive unsurpassed services from our group of highly experienced realtors, along with the world-class marketing power and exposure that comes with the Sotheby's affiliation. |
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M A I N E I S T O P C H O I C E F O R
B U S I N E S S E X P A N S I O N , R E L O C A T I O N
Non-Profit Business Recruitment Group Promotes Maine's Workforce, Quality of Life
Despite the drum beat of bad financial news across the country, Maine & Company, a private, non-profit business recruitment firm, has demonstrated in two recent announcements that Maine remains a top choice for companies seeking to relocate or expand their business. Boston Financial Data Services of Rockland is more than doubling their Maine workforce. NotifyMD, with current operations Farmington, Maine, announced the opening of a new Care Coordination Center in Winthrop and 200 new jobs. Whether it's promoting Maine's legendary work force, rich culture and unsurpassed quality of life or explaining the details of tax incentives in Pine Tree Zones, Maine & Company President and CEO Matt Jacobson has one mission at hand: recruit businesses to relocate or expand in Maine. Jacobson and a board of directors comprised of senior executives from 20 major private sectors and key government officials provide free and confidential services to companies locating or growing in Maine. The company's services include real estate site searches, data collection and analysis, incentives identification and visit and financing coordination, among other services. "We offer one-stop shopping for businesses interested in expanding or relocating in Maine. The number one benefit of locating business in Maine is our educated and dedicated workforce. Maine's quality of life and the host of incentives and resources available make our state a great choice," said Jacobson. In his spare time Jacobson is also co-host of Inside Maine Business - Maine's only TV business program hosted by local business leaders. Along with his co-host Roger Katz, the weekly program features in-depth interviews with Maine business leaders. Chris Lynch, owner and president of Legacy Properties Sotheby's International Realty, is among the recent guests to appear on the program.
"Maine is much more than a vacation destination or weekend retreat," said Lynch. "The work that Matt Jacobson and Maine & Company are doing is important to the Maine real estate market in particular because a diversified and growing economy attracts out-of-state buyers with significant assets. In the end that helps everyone." |
Destination Spotlight: The Kennebunks
Nestled between the ocean and the Kennebunk River, the villages of Kennebunkport and Kennebunk offer a unique blend of natural beauty, rich history and charming boutiques, gracious inns, restaurants and galleries. The former shipbuilding mecca was a popular destination for the "rusticators" of Victorian Times. Dock Square, with its ornate garden and monument, is a must see and hub of activity.
A couple miles down the road from Dock Square is the tranquil working fishing village of Cape Porpoise. At Cape Porpoise Pier you can watch lobstermen sort their catch and visit nearby lobster pounds and fish markets, seafood restaurants and shops.
What started as an experiment and thank you to the community by local businesses in 1982 - the first Christmas Prelude celebration - has become one of the most popular Christmas festivals in Maine. This year's celebration includes thousands of lights, dozens of tree lightings, craft fairs, music programs, parades and plenty of food.
Helpful Links
http://www.kennebunkport.org/
http://www.christmasprelude.com/
http://www.christmasprelude.com/schedule_of_events.htm
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P O R T F O L I O A C T I V I T Y
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F R O M T H E S O T H E B Y ' S
The following selections are taken from Sotheby's Preview online. In Ethereal Nature, Toby Meyer explains how Yves Klein found the ultimate vehicle with which to continue his pursuit of the metaphysical by introducing tactile sponges in to his work. ARCHISPONGE (RE11), pictured below, sold for 21,362,500 USD at the Contemporary Art Auction in New York on November 11th. The Flawless Collection, from Sotheby's Diamonds, is truly extraordinary. Also from the Auction House, Sotheby's London announces the sale of a rare, first-hand survivor's account of the sinking of the Titanic by the ship's watchman on the lookout for icebergs.
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