Maine Real Estate Info

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

The good: Biddeford-based Intermat this week received a $12.2 million contract from the U.S. Navy for the research and development of materials for use in submarine-launched ballistic missiles.

The bad: The Maine Consensus Economic Forecasting Commission this week downgraded their 2008 forecast for job and personal income growth in Maine. The five-member commission reduced its job growth estimate from 0.3% to zero percent, and its growth estimate for personal income for the year from 4.4% to 3.5%.

The Blob: The city of Lewiston has been beaten by a large, doughy blob “comprised of grease, flour and rags” that has taken over a major sewer line in the city. At a loss for a solution to combat this menace, a public services employee told WMTW the city has chosen to replace the 170-foot sewer line at a cost of up to $60,000.

This is the type of information we need to know and be able to communicate with our buyers and sellers, says Paul McKee, Team Leader of Keller Williams Realty Mid Maine. The Maine real estate market is holding steady regarding prices, slightly up in 07, but the number of transactions have decreased from the previous year.  Over all, Maine is fairing much better than what you here Nationally and that message needs to made clear to our clients.  Buyers need to know that prices are actually slightly higher, so “give aways” are not happening like they think, and sellers need to know that there are far less people out there making purchases and more properties for those fewer buyers to look at, so their price and the condition of the home needs to be “in the market” to even have a chance of selling now. Keller Williams Realty Mid Maine is located at 34 Center Street in Auburn Maine and they can be reached at 207-784-2525

Read the full press release here:

MEDIA REPORT:  In a press release to the media today, MREIS reports a 10.07% decrease in home sales comparing 2007 to 2006. Maine’s median sales price reached $194,000 in 2007, up 0.77% from 2006.  Median sales price indicates half of the homes were sold for more and half sold for less. During the month of December only, the statewide median sales price decreased 4.62% and sales were down 23.27 percent. Nationally, single-family home sales declined 21.6% and sales prices dipped 6.5% in the month of December.  NAR reported for all of 2007, home sales fell 13% and median sales price decreased 1.8% to $217,800. In the Northeastern United States, sales were 22.4% lower than last December.  The regional median sales price decreased 8.9% to $258,600.  Go to:  http://www.mainerealtors.com/MaineHousingReport-December2007.pdf

MREIS PRESS RELEASE:  In a press release to the media today, MREIS reports that the number of homes sales in Maine in November dropped 10.63% comparing November 2007 to November 2006; and the median sales price increased 1.62%.   NAR reports nationwide single-family home sales decreased 19.9%; and national median existing sales price dipped 3.7% to $208,700.  Home sales in the Northeastern U.S. mirrored national statistics with a 19.4% drop in sales, with median sales decreasing 3.2% to $258,300.  The complete press release is posted at http://www.mainerealtors.com/MaineHousingReport-November2007.pdf

A North Carolina developer will build a Marriott Courtyard hotel on the Island Point development in Lewiston, casting doubt over Auburn’s hope to lure a Marriott hotel to its side of the river.Winston Hotels Inc., in Raleigh, N.C., announced Tuesday it will begin next spring constructing a 120-room hotel on Mill Street at the foot of Great Falls, according to a press release. Lincoln Jeffers, Lewiston’s city administrator assistant, told the Sun Journal he thinks the hotel will spur more development in the nearby Cowan Mill, where plans for condos and a restaurant stalled after being announced in 2005.

Despite the announcement, developers George Schott and Bob Baldacci said they would continue to try to build a Marriott franchise over the river near the Auburn Mall.

In reference to: http://activerain.com/blogsview/122232/Lewiston-Maine-The-New

Lewiston Maine - The New All-American City

The National Civic League last week named Lewiston an All-America City.

The title, given to 10 cities across the U.S., is for cities that demonstrate problem-solving skills and civic pride. Lewiston submitted an application for the honor in April, highlighting the Lots to Gardens community garden project, the city council’s youth advisory council and its efforts to increase low-income residents’ use of the Earned Income Tax Credit program, according to a press release. Lewiston was a finalist for the award last year.

City officials began marketing the title yesterday, hanging a sign on Alfred Plourde Parkway, according to the Lewiston Sun Journal. “It doesn’t mean we don’t have any problems,” City Councilor Norm Rousseau told the paper. “It means we come together to solve the problems we have. This group and these judges, from across the country, recognized that.”

If you’re thinking of moving to these areas to take advantage of the quality education Maine students are already receiving, give us a call. We can help you find the right home in the right neighborhood and school district.

We would love to refer you to a qualified agent in the Limestone and Bangor areas.

Meservier & Associates is located in the Lewiston Auburn area and services the Yarmouth, Falmouth and Cumberland areas. Find us on the web at http://www.meservier.com.

Daily Real Estate News  |  November 27, 2007Commercial Real Estate Still Profitable Investment
So far, the softening in the real estate market hasn’t been felt in commercial property. There appears to be only a slight decline in 2007 vs. 2006.

Apartments have benefited from the still-high home prices and tightened mortgage-lending standards, although the increases have slackened slightly from 5 percent to 4 percent. Office properties are up 1 percentage point to 10 percent. Shopping centers are down 0.5 percent. Warehouses are up 4 percent and still in demand.

Over the past 12 months commercial real estate has returned an average 13 percent (property appreciation plus rental income), says commercial brokerage house Marcus & Millichap. That tops the 8.4 percent total return from the S&P 500 and the approximately 3 percent return from single-family homes.

Forbes magazine suggests that anyone interested in becoming a commercial landlord should ask the following questions before deciding how to go about it:

• Do you want to invest on your own or in a group?

• How much work do you want to put into your property?

• Is a 1031 exchange worthwhile, or will fees eat up the delayed tax benefits?

• Would you make more money buying a publicly traded REIT?

Source: Forbes, Dorothy Pomerantz (12/10/07)

Letter Sent to Troubled Borrowers: Help Is On the Way
The Hope Now alliance, a partnership between mortgage companies and nonprofit housing counselors, began a nationwide mail campaign last week to offer help to home owners who are having trouble meeting their mortgage payments.

The effort is being backed by the Bush administration. Treasury Undersecretary Robert Steel says the initial mailing would be followed by more outreach efforts in the months ahead.

Critics are calling this effort “too little too late” and are urging the administration to endorse a proposal made by Sheila Bair, chair of the Federal Deposit Insurance Corp. Bair has said that mortgage companies should consider making broad-based conversions of adjustable-rate mortgages to fixed-rate loans if the borrowers are current on their payments.

Source: Dow Jones International News (11/19/07)

What Buyers Do First One-third of home buyers go online first to look for properties, according to National Association of Realtor’s 2007 Profile of Home Buyers and Sellers. One-fifth of all buyers contact a real estate agent first. At least half of all home buyers reported using a combination of sources to gather information about their upcoming home purchase – real estate professionals, the Internet, yard signs and print newspaper advertisements. In Other News…In this weeks meeting, the Maine Real Estate Guru’s have announced that MREIS will be allowing the property addresses to be displayed with all listings to accommodate online mapping features. This is only if the sellers wish to have their address made public.Also MREIS, Maine Real Estate Information Services, is making plans to have a public IDX(MLS) search web site. Details have not been set. Stay tuned for more information on Maine Real Estate news.

A New England state has ranked No.1. That of course is Vermont according to a fifty state survey released on Nov. 5th, 2007.

“We are displeased and unhappy to have to report that this year the health of the nation is less good than it was last year. In fact, the health of the nation has slipped by about three tenths of a percent,” says Reed Tuckson, MD, senior vice president of the United Health Foundation, which has issued the survey for the last 18 years.

The survey uses a combined score of health indicators and policy questions to rank all 50 states. Obesity rates, tobacco and alcohol use, and high school graduation rates are accounted for, as are state laws and regulations promoting better health. The survey measures access to health services and also environmental issues like pollution, infectious disease rates, and crime.

Maine ranks 7^th as the healthiest state in nation
Maine moved up from ninth to seventh place in an annual ranking of the healthiest states released Monday by the United Health Foundation.

Maine rose in the rankings partly because the percentage of Mainers without insurance dropped 10% over the last year to 9.3%, and the percentage of smokers in the state fell from 30.3% in 1990 to 20.9% this year, according to the Associated Press.

The report said Maine’s health challenges include a high rate of cancer deaths and a low rate of immunization coverage, the AP said.

How the States RankedHere’s how the states ranked in the America’s health rankings report:

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In this issue, they report where Maine ranks in the nations best in regards to Healthcare. Read on;

Study: Maine’s healthcare 5th best in nation
Maine’s healthcare system is among the best in the country, according to a new report by the Commonwealth Fund, a private foundation in New York City.

In a study developed to complement the foundation’s 2006 “National Scorecard on U.S. Health System Performance,” the “State Scorecard” placed Maine fifth among the 50 states for healthcare access, quality and equity. The state placed in the median range in the remaining two major categories — avoidable hospital use, and cost and degree to which state residents enjoy long, healthy lives. Maine ranks second in the country for quality of care and healthcare access across socioeconomic classes.

The Commonwealth Fund measured all 50 states according to 32 performance indicators. Hawaii, Iowa, New Hampshire and Vermont rounded out the top five, while Oklahoma was ranked at the bottom of the list.

The good: Lewiston — some would say the state’s most optimistic city — put another feather in its cap this week when the National Civic League named it an All-American City. The title, given to 10 cities across the United States, honors cities that demonstrate problem-solving skills and civic pride.