IN MEMORY: MAR is sad to report that REALTOR Linda Mansfield (Keller Williams Realty, Portland) passed away on July 23 after a short battle with cancer. Her associates held an event to honor her earlier in the week. Our thoughts are with her family, friends and colleagues. Obituary at this link: http://www.legacy.com/mainetoday-pressherald/Obituaries.asp?Page=Lifestory&PersonId=114233751
A survey on the effect the closing of the Brunswick Naval Air Station will have on the local housing market was released Tuesday to a state panel.
The survey, which the Maine State Housing Authority presented to the Governor’s Advisory Committee, found that only 45% of Navy homeowners in the town definitely plan to sell their home when BNAS closes in 2011, according to the Times Record in Brunswick. Twenty-five percent of respondents said they don’t plan to sell their homes, and 30% said they weren’t sure. Few of the renters surveyed intend to stay in Brunswick.
The survey involved more than 800 responses from Navy personnel who own or rent homes in Brunswick.
Sales of single-family existing homes in Maine continued to decrease in June 2008. In a press release to the Maine media, MREIS reports 996 homes sold last month, a drop of 24.32% from last June’s sales figure of 1,316 homes. During the past 12 months, Maine’s median sales price decreased nearly six percent to $188,000. The median sales price indicates that half of the homes were sold for more and half sold for less. NAR reports a nationwide sales drop of 14.8% in June. The national median existing single-family home price dropped 6.7% to $213,800. Regionally, sales in the Northeast fell 15.8% during the past 12 months. According to NAR, the regional median sales price decreased 12.6% to $256,700. The complete press release will be posted to the MAR site soon.
Sales of single-family homes in Maine were down 22% in the first six months of 2008, according to a press release from the Maine Association of Realtors.
There were 4,373 single-family homes sold in Maine during the first half of 2008, 22.4% fewer than the 5,637 sold during the first half of 2007.
The median sales price for homes sold in Maine during the first half of 2008 was $185,000, a 5% decrease from the median sales price of $195,000 during the first half of 2007. However, the median sales price actually climbed in five of Maine’s 16 counties during the first half of 2008.
Here’s a look at the 10 counties that saw the largest fluctuation in median sales price (MSP) during the first half of 2008.
| County | MSP 2007 | MSP 2008 | % change |
| Statewide | $195,000 | $185,000 | -5.13% |
| Washington | $95,000 | $136,000 | 43.16% |
| Waldo | $151,875 | $165,000 | 8.64% |
| Franklin | $136,000 | $140,000 | 2.94% |
| Aroostook | $89,000 | $91,250 | 2.53% |
| Oxford | $148,250 | $151,500 | 2.19% |
| Hancock | $212,750 | $199,100 | -6.42 |
| Sagadahoc | $205,000 | $190,400 | -7.12% |
| Somerset | $107,000 | $97,500 | -8.88% |
| Knox | $220,000 | $196,500 | -10.68% |
| Piscataquis | $101,250 | $88,350 | -12.74% |
Source: Maine Association of Realtors
The Maine Real Estate Commission (MREC) has compiled statistics of license counts for three years (note - they count from June to June - not regular calendar year). The number of Agency licenses comparing June 2008 with June 2006 is DOWN 94; number of Designed Brokers is DOWN 180; number of Brokers is UP 112; Associate Broker is UP 353; and number of Sales Agents is DOWN 1563 licensees (783 sales agents in June 2008 compared with 2346 in June 2006). Statistics for NEW Licenses Issued (all types) in those time periods show a total DECREASE of 840 new licensees comparing June 2008 (1197) to June 2006 (2037).
The collapse of the mortgage market has hammered mortgage giants Fannie Mae and Freddie Mac, both of which are in line for big federal bailouts. Here’s a snapshot of Freddie Mac’s mortgage business in Maine. (Fannie Mae does not break down its numbers by state.)
In 2006, Freddie Mac…
Source: Freddie Mac; (2006 was the most recent data available)