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Dear Friends,
I hope your 2010 is off to a strong and healthy start. We are very excited about the prospects for our company and our clients this year. I must admit that I am not terribly sad to see 2009 move into the history books. As I think back to this time last year, the real estate markets were suffering from a crisis in confidence that shook the foundation of home ownership. The first half of the year was among the most tumultuous in real estate history. It appears that the unit volume lows of January and February 2009 marked the bottom of this real estate cycle. The 2008/2009 roller coaster ride endured by the market appears to be coming to a gentle end. As we reflect on the year, we are so very grateful for the trust and confidence placed in our company by our clients, customers, agents and friends.
The market appears poised for a period of relative stability through the middle of this year. Government incentives for "First Time" home buyers and "Repeat" home buyers will help keep the real estate fires burning into the spring and may even trigger another round of heavy buying activity as the incentives approach expiration in April.
Stability in the financial markets and low interest rates will be the basis for continued confidence for prospective home buyers. The median home sale price in Maine has tracked back to prices last seen in late 2003 and early 2004. Not all properties may have been affected equally by this downdraft, therefore it is increasingly important to get the best advice available when you are buying or selling a home. While there continues to be some further modest weakness in home pricing, we remain confident that the worst is well behind us. It appears that the market prices are stabilizing at or near current market levels. In fact, the December 2009 median home sale price in Maine actually improved by 1.5% from December of 2008.
It is our optimism and enthusiasm for Maine and the beautiful real estate we have listed for sale that keeps us inspired. We are well positioned to handle the current stability in the Maine market and we can say with confidence that buyers are back in the market and sales are taking place. Unit volume is much improved from last year, providing prospective sellers the opportunity to move on (literally and figuratively) albeit at below record prices of years past. We do see the current market as an opportunity to bring well priced homes to the market for sale. We also see value creation for buyers who can bring confidence and liquidity to the closing table.
There has been much talk about the increased activity in the foreclosure arena. Although it is on the rise in Maine, it has not had, nor is it likely to have a material effect on the single family housing market in our state.
All in all, I have great hopes for a more stable and orderly real estate market experience for both our buyer and seller clients in 2010. Best wishes for a happy and prosperous year.
Regards, |
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ROYALL ROAD
Boothbay, Maine
John Calvin Stevens inspired shingle style home has the charm of a 19th Century cottage with the amenities of most contemporary residences. Located at an impressive elevation in the village of East Boothbay, this home has magnificent long views of Monhegan Island as well as a deep water dock. The 7,000 square feet of living space with extraordinary attention to detail including two fireplaces, antique stained glass, wide oak flooring and custom cabinetry throughout. A stone patio on the water side of the property offers beautiful, changing views; there's a screened porch just off the open deck, a loggia which opens off one of the three master suites extends grand views of Monhegan. This home truly reflects the best in Maine architectural traditions.
Bedrooms: 5 Bathrooms: 5
Sleeps: 8
357 feet of waterfront and a deep water dock
Rates: $10,000 per week
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Accomplishments for Legacy Properties Sotheby's International Realty - 2009
Despite difficult market conditions, Legacy Properties Sotheby's International Realty continued to grow our market and market share throughout the Maine Coastal Communities. While extending our lead in the Luxury Property segment, we also finished the year as the number one company by dollar volume for all property sales in Maine over $500,000.
Legacy Properties Sotheby's International Realty has achieved great success in capturing market share in Maine. For the year 2009, we lead the state in Luxury Property sales by several measures: |
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MAINE REAL ESTATE SALES -2009
Legacy Properties Sotheby's International Realty
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Properties Over: |
Unit Volume |
Dollar Volume |
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> $2,000,000 |
#1 (tie) |
#1 |
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> $1,000,000 |
#1 |
#1 |
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> $750,000 |
#1 |
#1 |
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> $500,000 |
#3 |
#1 |
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Our four office unified business model has proven to be a very successful strategy. We are one company that collectively serves many towns in Maine with central offices in Portland, Camden, Brunswick and Kennebunk. With more than 50 agents covering the Maine coastal communities, we are able to deliver global property distribution with local market expertise. As a result, we have also achieved many of the top sales for the year in more than 20 towns in Maine. See the chart below. |
|
Town |
Address |
List Price |
Sold Date |
Sold Price |
Office |
Buy/Sell/Both |
Rank |
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Alna |
1000 Golden Rdg |
$695,000 |
11/20/2009 |
$675,000 |
Brunswick |
Sell |
1 |
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Bremen |
47 Kenne Neck |
$725,000 |
9/11/2009 |
$726,000 |
Camden |
Both |
1 |
|
Bristol |
51 Cliff |
$1,800,000 |
6/1/2009 |
$1,650,000 |
Brunswick |
Both |
1 |
|
Camden |
44 Thorndike |
$895,000 |
4/28/2009 |
$750,000 |
Camden |
Sell |
6 |
|
Camden |
4 Union |
$875,000 |
2/17/2009 |
$750,000 |
Camden |
Buy |
7 |
|
Cape Elizabeth |
36 Boat Cove |
$3,450,000 |
6/15/2009 |
$3,000,000 |
Portland |
Sell |
1 |
|
Cape Elizabeth |
16 Salt Spray |
$2,050,000 |
11/2/2009 |
$2,050,000 |
Portland |
Sell |
4 |
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Cumberland |
19 Stornoway |
$3,650,000 |
11/3/2009 |
$2,461,500 |
Portland |
Sell |
1 |
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Falmouth |
19 Cavendish |
$1,350,000 |
8/17/2009 |
$1,325,000 |
Portland |
Sell |
3 |
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Freeport |
113LowerFlyingPt |
$2,295,000 |
8/3/2009 |
$2,150,000 |
Portland |
Sell |
1 |
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Friendship |
47 Tamarack |
$795,000 |
12/11/2009 |
$650,000 |
Brunswick |
Sell |
1 |
|
Harpswell |
436 High Head |
$875,000 |
2/19/2009 |
$800,000 |
Brunswick |
Sell |
4 |
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Harpswell |
2330Harpswell |
$2,395,000 |
5/29/2009 |
$1,900,000 |
Portland |
Sell |
1 |
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Islesboro |
137 Dunn |
$750,000 |
11/30/2009 |
$650,000 |
Camden |
Buy |
1 |
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Kennebunk |
153 Beach |
$1,595,000 |
1/15/2009 |
$1,485,000 |
Kennebunk |
Buy |
2 |
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Kennebunk |
17 Woodland |
$1,369,000 |
12/21/2009 |
$1,305,000 |
Kennebunk |
Sell |
5 |
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Kennebunk |
3 Governor's |
$929,000 |
11/2/2009 |
$750,000 |
Kennebunk |
Buy |
10 |
|
Kennebunkport |
189 King's |
$1,795,000 |
7/17/2009 |
$1,625,000 |
Kennebunk |
Sell |
2 |
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Long Island |
528 Island |
$599,000 |
12/17/2009 |
$425,000 |
Portland |
Both |
1 |
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Long Island |
568 Island |
$450,000 |
12/8/2009 |
$417,000 |
Portland |
Both |
2 |
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Phippsburg |
44 Parker Hd |
$1,495,000 |
2/10/2009 |
$1,230,000 |
Brunswick |
Both |
1 |
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Scarborough |
16 Garrison |
$769,000 |
9/1/2009 |
$755,000 |
Portland |
Buy |
2 |
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Scarborough |
50 Quarry |
$764,900 |
7/7/2009 |
$710,000 |
Portland |
Buy |
3 |
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South Bristol |
36 Loon |
$995,000 |
8/31/2009 |
$835,000 |
Brunswick |
Sell |
1 |
|
South Portland |
4 Anchorage |
$899,000 |
2/13/2009 |
$899,000 |
Brunswick |
Both |
2 |
|
South Portland |
4 Anchorage |
$899,000 |
2/13/2009 |
$899,000 |
Portland |
Both |
2 |
|
Wells |
293 Island Bch |
$1,960,000 |
1/5/2009 |
$1,750,000 |
Kennebunk |
Both |
4 |
|
Woolwish |
321 Murphy's |
$875,000 |
10/23/2009 |
$650,000 |
Brunswick |
Both |
2 |
|
Yarmouth |
56 Pemasong |
$829,500 |
8/3/2009 |
$780,000 |
Portland |
Buy |
7 |
|
York |
1 Starboard |
$5,975,000 |
9/10/2009 |
$4,800,000 |
Kennebunk |
Sell |
1 |
|
York |
6 Towhee Hill |
$3,495,000 |
11/3/2009 |
$2,950,000 |
Kennebunk |
Sell |
3 | |
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Source: Maine Multiple Listing Service |
F E A T U R E D C U R R E N T L I S T I N G S |
D E S T I N A T I O N S P O T L I G H T:
S C A R B O R O U G H |
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Scarborough is located on the coast of Maine six miles south of Portland. With a population of 17,000, Scarborough is Maine's second fastest growing community.
The town of Scarborough is home to some of the finest sandy beaches in Maine. Prouts Neck, known as the summer vacation retreat to the Rockefeller family and the home of famed artist Winslow Homer, offers visitors the quintessential Maine experience. Scarborough Beach State Park with its soft sand and bold ocean views is a destination for Maine surfers and beach enthusiasts. The beautiful cove and gentle Ferry Beach tides offers something for all ages. Higgins Beach has a cult-like following for the Maine summer beach vacationers.
A little known gem is the beautiful condominium community: the Atlantic House. It offers bold ocean views, direct access to the uncrowded soft sandy beach, tennis and swimming pool on-site. Given it premium location, it is a rare gated community on Prouts Neck. Please contact us for more information on property availability.
Scarborough is a town that is rich in amenities and close to everything that Maine has to offer. | 
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A C C O M M O D A T I O N S I N M A I N E
Atlantean Inn - Bar Harbor
As is our monthly custom, Don Johnson, Senior Vice President of our Maine Inn Brokerage team, chooses a Maine lodging property that he feels our clients will enjoy as they travel to Maine to find their new home or home away from home...
As Legacy Properties Sotheby's International Realty continues to grow, we find that our clients are asking about and looking at properties throughout the state of Maine. Many times, after looking at properties in a given area, they are traveling to other Maine areas in order to get a well-rounded view of our beautiful state.
This year we are expanding our coverage of recommended accommodations to encompass regions throughout the state.
One of Maine's most popular destination points is Mt. Desert Island. The islands towns and villages, Bar Harbor, Southwest Harbor, and Northeast Harbor are surrounded by the islands main attraction, Acadia National Park.
Known for its tranquility in the heart of Bar Harbor, The Atlantean Cottage is a 1903 Tudor mansion located on a peaceful lane between Main St. and the ocean. The Inn is located just around the corner from all the various amenities Bar Harbor has to offer; fine restaurants, galleries, museums, and shops. Acadia National Park is just minutes away.
Innkeeper/owners, Heidi and Gary know the area very well and are happy to help their guests make decisions from the multitude of activities available.
Visit the Inn's website at: www.atlanteaninn.com or contact Heidi and Gary directly: email info@atlanteaninn.com or call 800.722.6671 or 207.288.5703. |
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F R O M S O T H E B Y ' S
A U C T I O N H O U S E |
Sotheby's first Jewelry auction of 2010 offers all of the essentials for any avid jewelry collector, from classic line bracelets made in the first half of the 20th century to timeless diamond ear studs and a variety of cocktail rings. Amongst the sale's important diamond highlights is the 10.05 carat heart-shaped fancy vivid yellow diamond ring by Christopher Designs that is featured in the spirit of Valentine's Day, and the beautiful Art Deco square emerald-cut diamond ring weighing 9.58 carats from a New York Collector.
The array of bracelet styles ranges from a unique diamond and emerald bracelet by Gattle circa 1925 to a whimsical fish motif bangle-bracelet made by popular American jeweler David Webb. Whether looking for a period jewel or a contemporary design, the February Important Jewels sale comprises a wide selection of styles to ensure there is something for everyone.
The Impressionist & Modern Art Evening sale this February will feature one of Gustav Klimt's finest landscape paintings, Kirche in Cassone (Church in Cassone), which was once in the celebrated collection of Klimt's early Viennese patrons Viktor and Paula Zuckerkandl. Another important highlight is Alberto Giacometti's monumental bronze L'Homme qui marche I, a life-time cast of the artist's most iconic image, and one of his most important and rare works ever to be offered at auction. Paul Cézanne's Pichet et fruits sur une table is a magnificent example of the artist's still-lifes, which played a key role in the development of modern art. The auction also features Impressionist paintings by Renoir, Pissarro and Sisley, German and Austrian works by Kirchner and Schiele, as well as fine examples of Surrealist painting by Magritte, Miró and Ernst.
The Evening Auction of Contemporary Art on Wednesday February 10th comprises a sensational array of paintings and sculptures that epitomise the major advancements of recent Art History, including the most outstanding collection of Zero art ever presented for sale.
The auction consists of Property from the Sammlung Lenz Schönberg, one of the most prestigious European collections and a formidable survey of groundbreaking art from the late 1950s and early 1960s. Included are unmatched paragons of Zero art such as the extraordinary, three-metre wide F 88 by Yves Klein and the most stunning Pietre and Metalli works by Lucio Fontana ever to appear at auction, in addition to many other highlights.
Additional pieces include the historic and sublime Saint Anton (Flat Light) by Peter Doig; an exceptional group of five works by Lucian Freud, encompassing the incredibly rare painting Self-Portrait with a Black Eye; the monumental Abstraktes Bild by Gerhard Richter; Willem de Kooning's key late work Untitled XIV; and the pioneering Italian masterworks Concetto Spaziale, Attese by Fontana and Achrome by Piero Manzoni.
Please click the images above to see more details about each auction. | O U R F O U R O F F I C E S
Covering the first 1,000 miles of Maine Coastline... |
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