The Maine Newsletter 4.8

The Southern and Coastal Maine Real Estate Newsletter – Volume 4.8 - John Herrigel

Mission
“To Educate and Elaborate on this Great State”

Table of Contents
1. Housing Statistics:
2. Commentary:  Solid July
3. Case Study:   1st Time Homebuyer Analysis
4. Featured…..       

"You have freedom of choice, but not freedom from choice."
Housing Statistics:
Sold Properties by County – July 09 (July 08) (% Change):
                       # Sold                           Avg. Price                       Avg. Days on Market 
York                207 (209)(-1%)           235K (246K)(-5%)          131 (113)(14%)
Cumberland   364 (353)(3%)             271K (296K)(-9%)           89 (88)(1%)
Sagadahoc       39 (35)(10%)              181K (204K)(-13%)         134 (110)(18%)
Lincoln            40 (31)(23%)               208K (300K)(-44%)         192 (199)(-4%)
           
Total Housing Inventories and Net Change by County:
                            8/26/09        7/21/09            Net Change
York                    2878           2941                    -63
Cumberland       3002           3124                    -122
Sagadahoc          487              471                      16
Lincoln                876             863                      13

Commentary: Solid July
The southern Maine real estate markets posted solid results for the month ending July 31st 2009.  Pricing remains a bit off relative to a year prior in the more populated Cumberland and York counties, but the decreases have become single digit vs the double digit losses seen over most of this past year.  Transaction volume was healthy in all 4 counties and it was significantly up in the mid coastal regions of Sagadahoc and Lincoln; a great sign of the 2nd home buyer market returning.  There was a net decrease in inventories for the 4 counties followed. Going forward expect more of the same: a leveling out of pricing and a stable/upward trend in transaction volume (particularly over the next few months as the first time homebuyer frenzy to buy before the end of the year tax credit incentive expires.)

Case Study:  :  1st Time Homebuyer Analysis
Based on my own observations and supported by the statistics below it appears the federal first time home buyer tax credit coupled with the Maine State housing “Gift of Green” have significantly helped transaction volume in the lower priced markets.

Featured…

Maine Company: Concrete Prescription LLC
Living in Maine, one can appreciate the rarity of a dry basement!!  Here is a Maine based business that can help waterproof and repair the many older foundations commonplace in this great state. Visit them online at http://www.crackologist.com/

Sites to Visit: www.SpecialOlympicsMaine.org    
Visit and support a great cause!

Restaurant: Salt Water Grill, Falmouth
A fantastic all around dining experience with wonderful vistas of the Portland skyline. Drive or take a water taxi from Portland harbor! Visit them online at http://www.saltwatergrille.com/

Quotable Quotes: “I looked along the San Juan Islands and the coast of California, but I couldn't find the palette of green, granite, and dark blue that you can only find in Maine.” Parker Stevenson

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 john@greentreemaine.com
 
Thanks for reading.

Next Issue:  Mid September

Disclaimers:
“Based on information from the Maine Real Estate Information System, Inc. for the period (7/1/2009) through (7/31/2009). Provided by an individual user of MREIS. MREIS has not reviewed the contents and does not make any representations, warranties or guarantees regarding the accuracy, timeliness or completeness of any statistical information and data provided.” Rev 8.06

All countywide data is derived from the Maine Association of Realtors.