Volume 2.1 - The Maine Newsletter - John Herrigel
Mission
“To Educate and Elaborate on this Great State”
Table of Contents
1. Housing Statistics
2. Commentary: Status Quo
3. Case Study: Waterfront Property Prices
4. “From Away”: For the Birds
5. Featured…..
"You have freedom of choice, but not freedom from choice." Click here to Unsubscribe
Housing Statistics:
Total Housing Inventories and Net Change by County:
2/26/07 1/25/07 Net Change
York 2525 2567 -42
Cumberland 2374 2389 -15
Sagadahoc 286 286 0
Lincoln 570 583 -13
Commentary
Property values continue to hold steady. Inventory levels remained static for the past 30 day period as the volume of transactions in January ’07 posted similar figures to a year prior. A cold and seasonal February served to temper the up-tick in activity seen after the holiday season, but optimism and excitement for a solid spring is in the air as rates remain low and increased interest in investment property in Maine continues to rise
Case Study: Waterfront property values
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|
|
|
|
|
Inventory |
|
# sold |
|
Southern Maine |
81 |
|
71 |
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Northern Suburbs |
38 |
|
37 |
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Lower Mid Coast |
69 |
|
52 |
|
Other than a significant price differential in Southern Maine, attributed partly to a large portion of current multi million dollar asking prices, current market conditions are similar to 2006 results. Inventory levels are just slightly higher than total properties sold in 2006 and thus one can expect to see a continued increase in Days on Market by extrapolating out the absorption rate to slightly under 1 year.
Search criteria used: All waterfront property for the given areas:
Southern Maine - Kennebunk, Kennebunkport, Wells, Biddeford, Saco, Scarborough
Northern Suburbs – Falmouth, Cumberland, Yarmouth, Freeport
Lower Mid Coast – Harpswell, Phippsburg, Georgetown
DOM – Days on Market
“From Away” - For the Birds?
Before you go buying waterfront property it may be wise to investigate the surrounding areas to ensure no Piping Plovers or similar protected shorebirds can be found nesting, feeding, staging and/or roosting within 250 feet of your property as recent legislature (June 06) drastically amended the Significant Wildlife Habitat Rules of 1998 to impose greater restrictions on buffer zones surrounding these areas. However a widespread outcry against the new rules has resulted in the creation of retroactive legislature that would reduce the newly expanded zones.
Read more here.
View maps of proposed areas here
Featured….
Maine Company: The Maine Audubon Society
With the mission to conserve Maine’s wildlife and wildlife habitat by engaging people of all ages in education, conservation and action. The Maine Audubon Society consists of 11,000 members spread out in 7 chapters throughout the state. Visit them at www.maineaudubon.org
Site to Visit: www.renewmaine.org
Everything and anything relating to biodiesel in Maine
Restaurant: 111 Maine, Brunswick
Looking for an upscale dining experience with a casual atmosphere. A great restaurant minutes from Bowdoin college in downtown Brunswick. Visit: www.111maine.com
Quotable Quotes:
“Winter in Maine is a time of alternating frenzied activities and rest” Tom Allen
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
If you know of any interested party who would like to receive this newsletter, please have them send an email to jherrigel@greentreemaine.com
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Thanks for reading.
Next Issue: Mid-Late March
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**All housing data has been derived from the Maine IDX MREIS System |