Volume 1.4 - The Maine Newsletter - John Herrigel
Mission
“To Educate and Elaborate on this Great State”
Table of Contents
1. Housing Analysis
2. “From Away”
3. Case Study:
4. Commentary
5. Featured…..
"You have freedom of choice, but not freedom from choice." Click here to Unsubscribe
Housing Analysis:
Sold Properties by County (April):
# Sold Avg. Price Avg. DOM
Cumberland 368 276K 91
York 239 276K 110
Lincoln 20 315K 211
Sagadahoc 35 210K 110
Total Housing Inventories and Net Change by County:
5/15/06 4/10/06 Net Change
Cumberland: 2729 2535 194
York 2643 2391 252
Lincoln 650 605 45
Sagadahoc: 347 310 37
“From Away”
Maine Withholding Tax for Buyers
Did you know every buyer of real property located in Maine must withhold a withholding tax equal to 2 1/2% of the consideration for non resident seller’s. Click for the Rules Here
Case Study: Condo Development in Portland
Recent demographic results reveal the increasing population shift North. Developers in Portland Maine and elsewhere along the coast are banking on luxury units with a view. On the East End alone, the $80 million Longfellow at Oceans Gate and the $110 million Westin Residences on the old site of Jordan Meats Factory shall bring 200 plus units to the market with entry level prices targeted at 300K-500K. Although these major developments are yet to be realized construction has progressed and units are under contract on smaller scale luxury units on Federal and Congress Street.
Commentary:
As economic and global forces continue to churn out unpredictable results, buyers continue to hold back, acting more cautiously and selectively. The number of homes sold in Cumberland and York County increased from March to April, but inventories also continued to rise. In addition the recent rain deluges and colder temps will dampen buying activity for May. As a result median home sale prices will remain flat as the pressure of larger inventories keeps upward appreciation in check.
Featured….
Quotable Quotes:
Maine: 1. a place where its not uncommon to find the garage bigger than the house/trailer to hold all the snowmobiles, trucks, chains, ice fishing gear, and atv's.
Maine Company: Coffee By Design
-Coffee By Design's mission is to educate people about specialty coffee and to provide them with the best quality coffee beans, beverages and food products available at our Micro Roastery and Coffeehouses in Portland, Maine. A wide variety of blends, organic roasts and more.
Visit: www.coffeebydesign.com
Site to Visit: www.mainelobsterpromo.com/
All and everything you want and need to know about the Maine Lobster. Recipes, nutrition, links…
Place to See: The Bay of Fundy
Located off the northern coast of Maine and extending into Canada between New Brunswick and Nova Scotia, this natural phenomenon is home to 50-foot tides. www.bayoffundy.com/
Restaurant: Beal Street BBQ
With locations in Bath, Augusta and South Portland this restaurant brings the South North. Excellent service, spectacular pulled pork sandwiches and magnificent Jalapeno Cornbread.
www.mainebbq.com
All information contained herein is deemed accurate when facts are stated. All opinions are that of the author. We apologize for any inaccuracies, offenses or misrepresentations
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Thanks for reading.
Next Issue: Mid June
www.MyMaineProperty.com
**All housing data has been derived from the Maine IDX MREIS System |