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| Maine Real Estate
News & Trends |
Greetings!
So far this has been a challenging year in Maine real estate.
Although we have not suffered
the severe drop in prices and sales that other parts of the country have
experienced, our challenge, nonetheless, has been a difficult one.
For people who have sold,
especially if they had purchased during the height of the market's inflationary
period several years ago, the problem is much more acute. Buyers have had
the upper hand, and that trend should continue.
Our objective in this edition is to focus on several key items. First, we
have a review of oceanfront homes (sales & prices) and a discussion of
values that exist in today's market. Second, we have developed several
strategies for both buyers and sellers, depending upon what "tier" of
the market you are in. These are some basic guidelines to consider if you
will be in the market over the next several months. Third, we have addressed the Federal tax credit
for first time homebuyers - what are your thoughts regarding the extension of
this benefit?
And lastly, just for fun, some thoughts on fall!
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Maine Waterfront Homes
Owning oceanfront real estate in Maine is more than just a home or lot - it is
an attitude, or more correctly a lifestyle. The ocean is synonymous with Maine
and our outdoors persona.
Searches for waterfront property and
corresponding questions are the leading inquires we get from our website. In
most cases we have found that when people begin to consider waterfront homes in
Maine they often don't have a good feel for the geography (just how big Maine
is) and what the prices are really like. There is often a misconception that
owning oceanfront real estate in Maine is inexpensive.
Although it is
affordable compared to many other parts of the country, prices are still
high. Learn More....
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Home Sales Recovery?
The last several months have shown improvement in homes sales. As reported in
our most recent blog post of last month, unit sales are up and prices are no longer
in free-fall. However, when it come s to "improvement", the market is what could
be considered "layered" and what is true in one category (or layer) can be very
different in another.
If you're selling or buying, your strategies
should depend on the value of the home you want or own. We have attempted to
provide some insight into what is happening across the market for the Greater
Portland area. Learn More... |
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Impact of Federal Credit
Like most o f the country, the Maine real estate market has benefited
significantly from the first-time homebuyers federal tax credit, which is
scheduled to expire Nov. 30, 2009. First time homebuyers are being defined as anyone who hasn't owned a home in the past three years.
Currently in order to qualify for the tax credit, a buyer must close on their
property by Nov. 30. Those hoping to take advantage of the tax credit will need
to have their finances in good shape, as nervous lenders are closely
scrutinizing a potential borrower's credit and income history. Learn More... |
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Why Leaves Change Color
I was asked recently if I knew why leaves changed color in the fall. Even
though I could make a few educated guesses, I really didn't know the science
behind it. If yo live in Maine, and enjoy the change of the seasons, it's a good
trivia question to be ready to answer!
First you need to understand what
leaves are and what they do. Essentially they are nature's food factories.
Plants take water from the ground through their roots. They collect carbon
dioxide from the air. Plants use sunlight to turn water and carbon dioxide into
glucose. Glucose, a sugar, is used as food and the way plants turn water and
carbon dioxide into sugar is called photosynthesis. Chlorophyll helps make
photosynthesis happen and it is Chlorophyll that gives plants their green color.
Learn More... | |
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Thank you for taking the time to read our newsletter. We hope you found it both entertaining and informative. As with everything we do we constantly strive to set a standard of professionalism uncommon in our industry.
If we can provide you, or anyone you know, with real estate services, we are only a phone call or email away.
Sincerely,
Michael & Laura Sosnowski
Maine Home Connection |
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