Maine Real Estate Info

Keller Williams Realty Mid Maine - 34 Center Street Auburn, Maine 04210. 

Sales of single-family homes fell 28% last month compared to January 2007, according to the Maine Association of Realtors. In January 2007, 688 homes were sold in Maine compared to just 495 last month. The median sales price for homes sold in January also dipped just over 2%, from $189,200 in January 2007 to $185,000 last month. The Maine Association of Realtors said in a press release that record snow fall could impact home sales.

Meanwhile, national home sales were down 22.4% from January 2007, and the median sales price for an existing single-family home dipped 5.1% to $198,700, according to the National Association of Realtors.

County Units sold
2006-07 Units sold
2007-08 % Change Statewide 2,656 2,131 -19.77% Piscataquis 71 31 -56.34% Franklin 83 46 -44.58% Washington 17 10 -41.18% Kennebec 272 186 -31.62% Cumberland 640 476 -25.63% Knox 92 70 -23.91% Lincoln 78 60 -23.08% Somerset 80 65 -18.75% Sagadahoc 66 54 -18.18% York 406 333 -17.98% Androscoggin 179 149 -16.76% Hancock 123 105 -14.63% Penobscot 290 269 -7.24% Oxford 108 108 0.00% Waldo 73 81 10.96% Aroostook 78 88 12.82%

PRESS RELEASE:  In a press release to the Maine media today, MREIS reports single-family real estate sales decreased over 28% during January 2008, compared with January 2007, with a total of 495 homes being sold. Statewide median sales prices for those homes dipped just over 2% to a median sales price of $185,000. The median sales price indicates that half of the homes were sold for more and half sold for less.  While prices decreased overall, several Maine Counties experienced double-digit price gains during the month of January. Nationwide, real estate sales were down 22.4% from January 2007.  According to NAR, the median existing single-family home price dipped 5.1% to $198,700. The Northeastern United States experienced a 25.7% regional decrease in sales.  However, NAR reported that prices rose 3.1% to $270,800 in the past year.

The good: The University of Maine’s Advanced Engineered Wood Composites Center in Orono this week unveiled a new composite-coated, blast-resistant building, which the U.S. military has reportedly shown much interest.

The bad: Maine’s 2007 lobster catch dropped 23% from the previous year, according to preliminary numbers released this week by the state’s Department of Marine Resources. Maine lobstermen landed 56 million pounds of lobster last year, with a total value of $248.5 million, compared with the 16.6 million pounds worth nearly $300 million landed last year, according to the Bangor Daily News.

The caffeinated beer: Maine Attorney General Steven Rowe recently joined attorney generals from five other states in demanding information from Anheuser-Busch Cos. and Miller Brewing Co. as part of a probe into whether the companies are targeting underage drinkers in their marketing efforts for caffeinated alcoholic beverages, according to the Associated Press. The companies deny the claim, and are reportedly complying with the subpoenas, the AP said.<.

Mt. Abram, a ski area in Greenwood, is up for sale with a price tag of $1.8 million.The 44-trail ski mountain went up for sale last month with no publicity, the Portland Press Herald reported. “We think the time is right,” Mt. Abram owner Josh Burns told the paper. “We’ve done a lot to the mountain. We think new owners can come in and take it to the next level.” Burns bought the 644-acre property in 2000 at a foreclosure auction for $325,000 plus back taxes, and has invested around $900,000 into the ski area, including refurbishing facilities and installing a new chair lift.

Dan Greenstein, who is listing the property at  CB Richard Ellis/The Boulos Co., told the paper that cash flow from skiing will support the $1.8 million purchase price. The property is being marketed to ski operators throughout the Northeast and eastern Canada.

If you have any interest, Please call:       Meservier & Associates of Keller Williams Realty Mid Maine, 34 Center Street Auburn, Maine 04210  207-784-2525

These Articles came out in today’s Mainebiz.biz “The Daily”.
 

Lobster catches fall in 2007
The amount of lobster caught in Maine in 2007 dropped nearly 23% from the previous year.

Preliminary numbers released yesterday by the state’s Department of Marine Resources show that Maine lobstermen landed 56 million pounds of lobster last year, with a total value of $248.5 million, the Bangor Daily News reported. That’s a decrease of 16.6 million pounds, nearly 23%, from 2006, when the amount of lobster totaled 72 million pounds and was worth nearly $300 million.

State officials say such fluctuations in the lobster industry are considered normal, and noted last fall that catches seemed to be lower than the previous year. The department will continue to receive more data on 2007 transactions in the next few months and determine final totals, the paper reported.

Snowe pans lobster gear changes
Sen. Olympia Snowe yesterday criticized a new federal rule that will require lobstermen to buy more expensive gear to help protect whales.

Snowe yesterday presided over a U.S. Senate subcommittee field hearing in Brewer on the requirement. About 160 people at the hearing, mostly fishermen, said the National Marine Fisheries Service didn’t have enough data to support the new requirements and that replacing floating lines with sinking lines would be too expensive, according to the Ellsworth American. “It’s no exaggeration that this could put many lobstermen out of business,” Snowe said, according to the paper.

Snowe said the NMFS should push back the October compliance deadline and conduct more research, but George Lapointe, commissioner of the Maine Department of Marine Resources, said there are no plans to push back the deadline, the paper reported.

“AT HOME IN MAINE”:  Today’s Kennebec Journal reports the Maine State Museum is creating a permanent exhibit “At Home in Maine” depicting the decorative arts in a series of rooms set up to represent different decades from the 1880s to 1966.  The print article (but not online) includes a request for items needed to complete the exhibit:  early 1900s bathroom sink (white, wall-mounted, chrome legs); bathtub dated 1900-1910 (faucets at end, date on underside of tub); small bureau 1950-1960 (42-48 inches tall, light finish); metal painted TV tray; Thanksgiving decorations used before 1966; 40th-50th wedding anniversary gifts; and 1960 or earlier holiday decorations.  Contact museum staff at 287-2301 if you can help.  To read more about the exhibit:  http://kennebecjournal.mainetoday.com/news/local/4775341.html

Real Estate at the Crossroads: Choosing to Thrive

Recapping the shift in the real estate market at Family Reunion, Gary Keller urged attendees to seize the current market to their advantage.  Keller explained that the 10-year run-up in real estate that began in the early 1990s, led to an environment in which homes were no longer affordable, lenders were willing to take unreasonable risks and inventory rose to record levels.

This chain of events led to mortgage lenders pulling back, followed by a credit squeeze, increased inventory, dropping prices, rising defaults, slipping consumer confidence and reluctant buyers.

 

ECONOMIC STIMULUS: NAR applauds the Economic Stimulus package passed by the U.S. Senate last night which includes important provisions that will temporarily raise the FHA loan limits.NAR developed estimates of the temporary FHA and GSE single-family loan limits based on HUD’s existing FHA loan limits. Per the economic stimulus measure, HUD is required to publish the official new temporary loan limits within 30 days of enactment. NAR’s figures are estimates, not official figures. GSE limits remain $417,000 in Maine.  Maine’s estimated FHA increases here - Androscoggin - from $200,160 to $271,050; Aroostook - from $200,160 to $271,050; Cumberland - from $256,025 to $336,875; Franklin - from $200,160 to $271,050; Hancock - from $207,100 to $272,500; Kennebec - from $200,160 to $271,050; Knox - from $200,160 to $271,050; Lincoln - from $241,395 to $317,675; Oxford - from $200,160 to $271,050; Penobscot - from $200,160 to $271,050; Piscataquis - from $200,160 to $271,050; Sagadahoc - from $256,025 to $336,875; Somerset - from $200,160 to $271,050; Waldo - from $200,160 to $271,050; Washington - from $200,160 to $271,050; York - from $256,025 to $336,875.

MSHA NEWS:  The Maine State Housing Authority (MSHA) provides these notable updates - a) for the month of February 2008 their First Home Rate remains 4.95% and Maine Assist at 5.25%; b) beginning March 3, MSHA will offer 0 point, 2 point and 40-year term options.  The current 3 seller point requirement will be discontinued.  Program guidelines, webinar training dates and marketing initiatives will be announced during February.  Will apply to first-time homebuyers, veterans and active duty military; c) MSHA borrowers who lose their jobs now have Maine HOPE (Home Ownership Protection for umEmployment).  Maine HOPE may be available to assist borrowers who become unemployed by making 4 of their MSHA mortgage payments, including taxes and homeownership insurance.  The Maine HOPE loan is interest free and repaid when the borrower pays off their MSHA mortgage or stops using the home as their primary residence.  For more info - (800) 452-4668 or http://www.mainehousing.org/HomeLoan/

The Lewiston Education Fund (LEF), of Lewiston Maine held its 3rd Annual Super Bowling Saturday, on Feb. 2nd at SpareTime Recreation Center,
Lewiston. Thanks to the generous sponsors and team members, almost $6000 was raised in this year’s event, nearly twice as much as the 2007 event, and over three times as much as 2006 event!  LEF’s Board is very pleased that this successful event also raised awareness in the business community, since the event is designed to give companies an opportunity to contribute to a worthy cause while providing their staff and associates with a fun team-building experience.   Keller Williams Realty Mid Maine, Tambrands, and White Rock Distilleries, were this year’s Hospitality Sponsors. Teams consisted of staff members from Camden National Bank, Keller Williams Realty Mid Maine (2 teams), Maine Bank & Trust, Pediatric Associates, Budget Document Technologies (2 teams), Harriman Associates, Paychex (3 teams), Turner Publishing Inc, Lewiston School Department (2 teams) and School Committee, and Tambrands (2 teams).   Individual Achievements: Women’s High Game Scratch: Kathy Bouchard - 258, Cathy Bickford - 214, Lucy Violette - 193, Sue Meservier of  Keller Williams Realty Mid Maine - 178, and Jeannie Levesque - 166.  Men’s HIgh Game Scratch:  Tom Giberti, Jr - 277, Brian Roy - 255, Thomas Giberti, Sr - 215, Shawn Barrows - 198, and Christopher Behne - 186.    Drawings for valuable items and gift certificates were donated by (won by) Better Days Organizing PLUS (Shirley Libby), Cassiel’s Day Spa (Jamie Ouellette), Rowe Mitsubish (Deb Heroux, Nancy Richard, and Monica Hemond), Bates College (Linda Wheeler), DaVinci’s Eatery (Dan Fournier), Shaw’s (Lucy Violette), Lost Valley (Tammy Bellefleure of Keller Williams Realty Mid Maine and Kristine Powell), and Hair Connection (Cathy Bickford).  LEF was established in 2002, to fulfill School Superintendent Leon Levesque’s vision of a non-profit foundation to fund innovative educational projects in Lewiston public schools, that expand educational opportunities, foster creativity, and enhance academic excellence, but would be unaffordable through regular school budgets.LEF grants are made possible through the generous contributions of many businesses and individuals, including Peter Geiger, LL Bean, TD Banknorth, and Wal-Mart, to mention just a few.  The 11-member Board has awarded numerous grants proposed by educators, individually and collaboratively, that impact students of all ages.  It is especially proud of LEF’s signature project, S.T.A.R.T. “Steps to Accomplishing Real-life Transitions” at the Lewiston Middle School , designed to encourage greater aspirations at a critical time in student scholastic development.  Donors can also specify that contributions be added to a special project or to LEF’s endowment, which will provide a perpetual income source for programs long into the future. Consider a special gift to honor community members or to memorialize loved ones and provide a lasting legacy that will touch the lives of children for generations to come.   If you are interested in “investing in academic excellence” or becoming part of the Board or Circle of Friends, or simply to learn more about the exciting projects and programs funded, please visit LEF’s website at www.lewistoneducationfund.org

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