| FEATURED
PROPERTY
| 
Pool Included $399,000
South Portland
|
| FEATURED
PROPERTY
| 
Schooner Ridge $385,000
Cumberland
|
| FEATURED
PROPERTY
| 
Very Private
$379,900
Falmouth
|
FEATURED
SERVICE  |
Moving Here?
Digital Guide &
Relocation Stuff!
|
| FEATURED
TECHNO BIT
| 
4 G Service
Your Not Alone
Dead Batteries!
|
| FEATURED
ARTICLE
| 
Atlanta Market
Reflects National
Misery
|
| FEATURED
VIDEO
| 
Second Helping
Everyone With Clothes On!
|
| JOIN OUR
|
Social Media is the new town hall!
|
VISIT US
ON YOUTUBE
| |
|
|
SEARCH THE MAINE MLS
| 
You can view all Maine homes for sale on our website.
Receive email alerts each time a property matching your requirements comes on the market - create a custom search. SEARCH HOMES |
|
EMAIL ALERTS
MARKET WATCH
|
|
|
|
|
News, Trends & Observations
February 2012
|
Greetings!
"You can't connect the dots looking forward; you can only connect them looking backwards. So you have to trust that the dots will somehow connect in your future. You have to trust in something - your gut, destiny, life, karma, whatever. This approach has never let me down, and it has made all the difference in my life.".
- Steve Jobs
Now that 2011 is firmly behind us it's a good time to take a step back and look at how Maine's real estate market performed, with comparisons to 2010 and across the country. We have updated sales reports by many towns and cities in the greater Portland area, which can be found on our website by following the links at the Local Communities tabs on the home page. There you will find updates for all propery types, median and average prices, days-on-market, and several other statistics that provide insight into how each area performed. The graph below is an overview of selected cities and towns and a summary of Cumberland and York Counties.  | |
Click to View Complete Data & Report
|
In general, nearly all communities experienced a continued decline in the number of homes and condos sold in 2011 vs 2010. Of course there were a few exceptions - but those areas were far and few between. The median price of homes also declined in Cumberland and York Counties in total and in most towns, but the rate of decline has clearly moderated. In fact, in Cumberland County we have had six consecutive months of increasing home prices. These increases are marginal - but increases nonetheless - which is better than most other parts of the country, as reported in the Case-Shiller Index (see below).
The Maine Real Estate market, like any market, is affected by a number of factors complicating just about any analysis you are prepared to take on. Overall, our market is somewhat small. For example in any given month the total number of sales state wide rarely exceeds 1,000 homes. This small sample size increases the month-to-month volatility of the statistics. As we continue on the road to recovery, we are still faced with two major obstacles, and that assumes the economic recovery progresses and interest rates remain low. First, the amount of inventory (homes on the market) is at unprecedented levels. Buyers continue to have nearly unlimited choices and sellers are faced with prices that are at their lowest levels in nearly a decade. Second, the impact of foreclosures is not yet behind us. Although they represented less than 15% of all sales in Maine in 2011, nationally there is anticipation that many more foreclosed homes will be dumped into the market in 2012, thus mitigating any recent gains made in selling prices. The complete market report is available at Market Values. If you would like any customized reports, just let us know. |
The Year in Review
Google Zeitgeist
 | | Click to View |
Human beings love to make predictions, whether about the movements of the stars, the fluctuations of the stock market, the Super Bowl victor or the upcoming season's fashion trends. Pick up any newspaper or browse through headlines on any given day, and you'll immediately encounter a mass of predictions - so many, in fact, that you probably don't even notice them.
Very rarely, however, do we ever go back and truly analyze just how accurate they were - and we are not about to do so here!
If you are not familiar, for the last several years Google has been publishing a year in review known as the Zeitgeist. The meaning of the word goes back to 1884 and is of German etymology - from Zeit (time) + Geist (spirit) with a literal translation of the general intellectual, moral and cultural climate of an era. Learn More...
|
Naples Lakefront Retreat Available
Taking Frank Lloyd Wright to a New Level  Twenty years ago, Khris and Barbara Klimek needed to move to New England due to a business opportunity. Wanting to be near a lake, they visited all parts of Maine until they finally discovered Naples, saw a flash of blue, and knew intuitively they were "home".
But houses for sale on Long Lake were "so traditional," when what they craved was elegance, sophistication - and above all excitement.
Being from the Midwest, the Klimek's had in mind something more along the lines of a Frank Lloyd Wright design. When they saw the work of Wiscasset architect Jim Schildroth, they knew they had their man to build them a home that was indeed something very special.
A former student at the Frank Lloyd Wright Foundation, Mr. Schildroth developed a strong philosophy of organic architecture, similar to Wright's, blended with his own magic and sense of whimsy. Learn More... |
National Prices Continue to Drop
S&P Case-Shiller Index
We are now 5 years into the housing downturn and it has been more than 3 years since the dramatic meltdown in late 2008 - early 2009. During this time there have been substantial declines in sales volume and median pricing across the country and in Maine.
There are some differences worth noting, however, as recent Maine pricing results performed better than the many other parts of the country. Na tionally, home prices are monitored by the S&P Case-Shiller Index, which was developed in the 1980's. The index is actually a composite of several which measure changes in the prices of single family homes in major metropolitan areas.
At the end of January 2012 the most current S&P Case-Shiller report was made available. According to November's report home prices fell sharply in November as 19 of 20 cities included in the index recorded price declines Learn More....
|
Thank you for your continued support. As with everything we do we constantly strive to set a standard of professionalism uncommon in our industry.
We would love to hear your comments and suggestions as to what you would like to read in the weeks and months ahead. Please email them to us, care of Info@MaineHomeConnecction.comIf you are thinking of buying or selling - or know of someone who is, it would be our privilage to assist them.
Sincerely,
Michael & Laura Sosnowski
Maine Home Connection |
|
|
|
|
