Maine Real Estate Info

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