Maine Home Connection

 May 2010

Maine Real Estate News & Notes

  Laura & Michael Sosnowski
In This Issue
Homebuilder Confidence Up
Facebook Privacy
Portland Cruise Ships
Dramatic Contemporary
Dramatic Design
8 Alexander Dr
Cape Elizabeth

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Private Community
Exceptional Value
3 Leah Lane

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Close to Town
Wooded Yard
19 Tanglewood Dr

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News, Trends & Observations

The first quarter of 2010 has seen a significant improvement in Maine home sales. Statewide single family sales are up 27% over the first three months of 2009.  In Cumberland County sales have increased 39%.

Pricing, however, is a much more difficult number to wrap your arms around, especially as it pertains to individual towns, and more specifically, individual homes.  Statewide the median home price rose year-over-year from $155,000 in 2009 to $160,800 in 2010, representing nearly a 4% increase.  The average price was $197,706, representing a 9% quarterly improvement.  In Cumberland County the median price was unchanged at $210,000, yet the average priced increased 3% to $255,355 during the same time period. 

These improvements, however, must be tempered by the fact that the first quarter of 2009 was one of the worst on record for Maine real estate.

Nonetheless, Maine continues to outperform many other parts of the nation where sales increases are much more limited and include a higher percentage of foreclosures and short sales.  In many markets prices continue to decline.

As the spring market accelerates there are many excellent values available, as evidenced by just some of the great homes we are marketing.  We invite you to virtually visit our featured properties included in this newsletter and at our website.

It also appears that with the expiration of the Home Buyer Tax Credit there might be an increase in activity in the "middle market"  This is a direct reflection of improved consumer confidence.

As always, if you are in need of any specific market information, just let us know and we can prepare just about any type of customized report.

Homebuilder Confidence Improves
Best since August 2007

View VideoAcross the country it appears that builders are gaining more confidence in the housing market and expect improved business over the next several months.  This is true despite the fact that the federal tax credit has expired.

In a report published by the National Association of Home Builders on May 17th,  its housing index, which tracks industry confidence, rose three points this month to 22. 

This is the highest measurement since August 2007.  Although this is clearly an improvement, a reading below 50 indicates negative sentiment about the market.  The last time the index was about 50 was April, 2006. Learn More...
Facebook Privacy Policy Changes
Protect Your Privacy
Facebook Privacy

The new Facebook Privacy Policy is 5,830 words long.  Yikes!  The United States Constitution, without any of its amendments, is 4,543 words.

You may or may not be using Facebook - but no doubt you are aware of it.  It seems like it's everywhere and in previous newsletters we've written about creating profiles and fan pages.

Currently Facebook is going through dramatic changes regarding privacy that everyone should also be aware of.  The company has revised its privacy policy to require users to opt out if they wish to keep information private, making most of that information public by default. Some personal data is now being shared with other websites.  Learn More...
Cruise Season Starts Early
Over 70 Ships to Visit
Portland Cruise Ships

Each summer Casco Bay is home to a wide variety of cruse ships, both big and small. They play an important role in the Portland economy.  Annually there is an ongoing effort by the city to increase the number of ships that visit and the 2010 season gets underway May 24th as the Greek luxury yacht arrives.  

Normally the cruise season begins at the end of June and the early start to this year is a sign that the investments made by the city of Portland and the Canadian tourism office is bearing fruit.  Learn More | View Video....

Thank you for your continued support. As with everything we do we constantly strive to set a standard of professionalism uncommon in our industry.

Michael & Laura SosnowskiMaine Real Estate News Blog
Maine Home Connection