2010 August | Landvest Blog

Aug

Top Towns to View Fall Foliage & LandVest’s Accompanying Real Estate Picks
By LandVest

Walpole, New Hampshire, Rated #11 for Fall Foliage (Rice Mountain view)

In preparation for the fall season, Yankee Magazine named the top 25 towns in the Northeast for viewing fall foliage. Tourism professionals and Yankee Magazine journalists nominated the towns for consideration and then rated each of them according to scenery, vistas, scenic drives, color intensity, orchards, parks, tourism amenities, along with shops, hotels, and restaurants. The Northeast is a desirable place to own real estate, whether it be a primary residence or vacation home. The foliage is a desirable attribute of the area and is not to be missed.

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Aug

Middlesex County, MA Real Estate Market Watch First Half, 2000-2010
By LandVest

High-End Real Estate Market Watch, First Half, 2000-2010 – Middlesex County, Massachusetts

Monument Street Estate is one of many LandVest Listings in Middlesex County

Middlesex County has a long history of being an attractive place to buy real estate in Massachussets. Its close proximity to Boston combined with a variety of real estate offerings make it no surprise that it contains one of the wealthiest towns in the United States (Weston, MA) and that it is within the top 50 most populous counties. Middlesex county includes the towns of Belmont, Cambridge, Carlisle, Concord, Lincoln, Newton, Winchester and the aforementioned Weston.

Active Listings and Sales, $2,000,000+, First Half, 2000-2010
In Middlesex County, Massachusetts, in the first half of 2010 the inventory of high-end listings grew to nearly record levels (183 listings vs. a peak of 192 in 2009). First half high-end sales peaked in 2005 (60 sales) and 2007 (61 sales). The past three years have seen considerably less activity in the first half: 47 sales in 2008, 27 sales in 2009, and 40 sales in 2010. The uptick seen in the first quarter seems to be sustained in the first half, although slightly behind 2008. A recent flurry of activity at LandVest suggests that this improvement is real. Towns with high-end sales in the first half of 2010 are Belmont, Cambridge, Concord, Lexington, Lincoln, Newton, Wayland, Weston, and Winchester.

Highest and Average Sale, $2,000,000+, First Half, 2000-2010
First half sale prices peaked in 2004-2007 at the $6,000,000 to $7,000,000 level with an anomalous $10,000,000 sale in 2008 in Weston. In 2010, the top sale in the first half was $6,500,000 in Chestnut Hill (Newton). Average first half sales prices are generally more stable in the range of $2,600,000 to $2,900,000 over the past ten years. In the first half of 2010 the average sale price was $2,761,349.

Days on Market, Sales, $2,000,000+, First Half, 2000-2010
Days on market for first half high-end sales have varied dramatically over the past 10 years. In the first quarter of 2010, properties that did sell sold quickly, while in the second quarter days on market have increased. Average days on market for the first half were 216 vs. 258 in 2009 and 186 in 2008. Despite the continued uncertainty in the market, special properties expertly presented and well priced are selling.

Sales by Town, $2,000,000+, First Half, 2000-2010
Nine of the 54 cities and towns in Middlesex County, Massachusetts, had high-end sales in the first half of 2010. Over the period 2000-2010 Weston is the leader with 126 sales followed by Newton (102), Cambridge (71), Concord (47), and Lexington (34). On a population-adjusted basis, Weston is also the leader by a 4-fold margin followed by Concord and Lincoln tied for second place and Winchester in third place.

The LandVest High-End Market Watch is a periodic review of select high-end markets in Maine, Massachusetts, New Hampshire, Vermont, and the Adirondacks. Market data is collected from Multiple Listing Services and does not include private listings. LandVest makes no representation as to the accuracy of the data and therefore is not responsible for any actions taken as a result of use of or reliance on this information.

For additional information about LandVest’s real estate consulting, appraisal, and brokerage services, please contact:
Robert R. Borden III, President
Ten Post Office Square | Boston, MA 02109 | rborden@landvest.com | 617-357-8992

This Winchester Lakefront property in Middlesex County is available for sale.

For information about selling or buying real estate in Middlesex County, please contact Stewart Young at syoung@landvest.com or 617-357-8930

View Boston Area Select Sales

To view available real estate in Middlesex County, visit www.landvest.com or click Boston area real estate for sale

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Aug

Cape Cod Real Estate Market Watch, First Half, 2000-2010
By LandVest

High-End Real Estate Market Watch, First Half, 2000-2010 – Cape Cod, Massachusetts

Wings Neck Waterfront, one of two, LandVest listed, Pocasset homes for sale

Cape Cod is internationally famous as a summer resort area and is increasingly popular for retirement living. It features miles of beaches, natural attractions, historic sites, art galleries, and four star restaurants and hotels. Outdoor activities include world class yachting, coastal and deep-sea fishing, numerous public and private golf courses, and a wide variety of other informal summer sports. The Cape is just 75 miles from Logan Airport in Boston, Massachusetts and T.F. Green Airport in Providence, Rhode Island. Executive jet services are available at the Hyannis airport and there are several other smaller airports.

Cape Cod is divided into four regions: Upper Cape, Mid Cape, Lower Cape, and Outer Cape, each including several towns and villages. Upper Cape towns include Bourne (which includes the Wings Neck area of Pocasset), Sandwich, Falmouth, and Mashpee. Mid Cape towns include Barnstable (which includes the village of Centerville) , Dennis, and Yarmouth. Lower Cape towns include Harwich, Brewster, Chatham, and Orleans. Outer Cape towns include Eastham, Wellfleet, Truro, and Provincetown.

Active Cape Cod Real Estate Listings, $2,000,000+, First Half of 2000-2010
On Cape Cod, Massachusetts, in the first half of 2010 the inventory of high-end listings grew to historic levels (248 listings vs. 210 at the same point in 2009). First half high-end sales almost doubled compared to last year (24 sales vs. 17 at the same point in 2009). The peak for first half sales was 44 sales in 2006. 2009 sales were the lowest since 2002. It is interesting to note that the first quarter 2010 performance was lagging 2009 (5 sales vs. 8 in 2009), but a surge in the second quarter resulted in an additional 19 sales vs. 9 in the second quarter of 2009. LandVest is seeing a burst of energy across its markets in the second quarter of 2010 and we are cautiously optimistic that the reminder of the year will see increasing activity in the high-end market.

Highest and Median Sale, $2,000,000+, First Half, 2000-2010
First half sale prices peaked in 2006 with a sale in Osterville at $12.5 million that remains the record sale for Cape Cod. In 2010 the top sale to date was $5.8 million for a property in Centerville that was on the market for an astounding 2,180 days starting at $9,800,000. The next two highest sales were $5 million in Chatham and $4.4 million in Osterville. The median value for high end sales in the first half of 2010 was $2.8 million matching the previous record in the first half of 2006.

Days on Market, $2,000,000, First Half 2000-2010
Days on market for high-end properties sold during the first half of 2010 grew substantially to 589 days compared to 226 days for the first half of 2009. This increase seems skewed by the sale of the property in Centerville, although there were several other properties selling after 3 years on the market. In the past three years, the average days on market for sales in the first half of the year ranged from 226 to 264 days.

Sales by Town, $2,000,000, First Half, 2000-2010
For the past few years the high-end market on Cape Cod has broadened as the perennial top markets have been perceived as being too expensive and as buyers have bid up the prices of special properties in other towns. This year the market seems to be contracting. Cape Cod towns with high-end sales in the first half of 2010 include the leader, Barnstable, (with 7 of the 12 sales in the village of Osterville), followed by Chatham (7), Harwich (2), Falmouth (2), and Orleans (1). In 2006 at the first half peak, 13 of the 15 Cape Cod towns had high-end sales.

The Playhouse is a 6.2-acre estate in Centerville, MA and is available for sale.

View Cape Cod Area Select Sales

To view available real estate on Cape Cod visit www.landvest.com or click Cape Cod Real Estate for Sale

For information about buying or selling real estate on Cape Cod, please contact Stewart Young at syoung@landvest.com or 617-357-8930

For additional information about LandVest’s real estate consulting, appraisal, and brokerage services, please contact:
Robert R. Borden III, President rborden@landvest.com or 617-723-1800

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Aug

NAUTILUS ISLAND, A PRIVATE ISLAND AT THE ENTRANCE TO CASTINE HARBOR IN MAINE IS FOR SALE, AND IS TODAY’S PICK FOR BEST PLACE TO LIVE
By LandVest

This 37±-acre, entire island offering with over one mile of rocky coastline is steeped in history, full of modern appeal, and saturated in Maine flavor.

37-acre Nautilus Island in Brooksville Maine

Amenities abound from accommodations to recreation. Beginning with the traditional Maine coast water provisions of lobster, clams, mussels and oysters to the islands new organic gardens and hardy vineyard, this island is sure to tantalize both gourmand and back-to-basics tastes.
The 6-bedroom main residence is complete with an infinity pool, heated spa and stone piazza entertaining area

Located on the islands highest point, the completely renovated c1882, 6-bedroom main home offers spectacular sail-laden, ocean views and is rich in architectural detail including a grand staircase, tiled fireplace, and built-in corner cabinets.

View of Sailboat from the Nautilus Island Veranda

The piazza on the Island’s main house takes full advantage of panoramic Penobscot Bay views including Islesboro and Camden Hills.

The main home is flanked by a stone piazza, infinity pool and entertaining area to one side and a putting green and serenity perennial gardens to the other. Just down the path is a tennis court that overlooks the Castine Harbor.

View from Organic gardens of century old farmhouse

View of the century old Farmhouse from the organic gardens

View from Organic Gardens of Nautilus Island Guest Cottage

Newly relocated and renovated harborside guest cottage

The newly renovated and charming guest cottages are steps from the boathouse bar which is equipped with a 22- foot granite bar, a kitchen area, and stone fireplace.

The converted boathouse bar on Nautilus Island

The Nautilus Island Boat House Bar

The 2-story barn sits sturdily at the head of the vineyard and currently serves as a rustic game room, work-out area, workshop and storage area. The sugar shack adds further use to the aesthetically pleasing island maple trees by converting its sap into what some refer to as liquid gold. A pier, moorings, most furnishings, ground equipment, and a 23′ boat complete this exceptional offering.

View from Vineyard of Nautilus Island Barn

The sugar shack on Nautilus Island in Castine Harbor

The Nautilus Island Sugar Shack

Steeped in History… In 1779 Nautilus Island, strategically located at the mouth of Castine Harbor as it meets Penobscot Bay, became entrenched in the twenty-two day, British-American military engagement now known as the Penobscot Bay Expedition. Four years after his famed midnight ride, Paul Revere served as commander of a fleet of ships that took sail from Boston with a mission to secure land surrounding the Penobscot River. Revere was responsible for taking Nautilus Island from the British during an evening raid; however this was one of few victories in the ill-fated expedition. The British later took the coastal area including what is now Castine and kept the area in hand until the war’s end.   Prior to this entry into American history, Nautilus shows evidence of having been home to the Penobscot Indians. The island remained under the protection of one family for over 130 years and has recently undergone a four year renovation project.
The quintessentially quaint, Coastal Maine town of Castine serves as port and offers year-round cultural events. Dennett’s Wharf   (home of Castine’s best lobster roll) is the gateway to Nautilus Island. Castine is also home to the Maine Maritime Academy educational facility and their State of Maine exploratory ship.   Castine, Maine is approximately 460miles from New York City, 250 miles from Boston and 330 to Montreal and 40 to Bangor International Airport .

Lasting Memories… The stone fireplace in the boathouse bar begs for a story telling gathering after a day of ocean fun, or perhaps, a quiet respite after a frenzied stint on the mainland. Here, with cocktail in hand, book in the other, Castine Harbor views ablaze in sunset reflections, water lapping at the pilings below, distant buoys gently clanging, the dinner call of seagulls circling the island, a relaxed breath of fire-warmed salty air soothes the soul and cures the ails of off-island harried life.

Sunset on Nautilus Island

For more information on Nautilus Island, or for more information about buying or selling Maine Real Estate please visit the Nautilus Island website or contact John Saint-Amour jsaintamour@landvest.com
Click to view more Maine Island Real Estate for Sale
Click to view more Maine Waterfront Real Estate for Sale

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Aug

Midcoast Maine Real Estate Market Shows Improvement
By LandVest

MIDCOAST MAINE REAL ESTATE ANALYSIS, JANUARY – JUNE 2010

This entry is brought to you by Terry Sortwell (tsortwell@landvest.com) and Shannon Thompson (sthompson@landvest.com), who assist and advise real estate buyers of fine homes and estates throughout mid-coast Maine.

The midcoast Maine real estate market in the first half of 2010 has improved over 2009. An analysis of MLS data of coastal and island communities from Boothbay real estate to the Blue Hill Peninsula real estate reveals there have been 16 sales of residential properties priced above $1,000,000 in the first half of this year. There were 8 sales in this range in the first half of 2009 (and 10 sales in the second half). In comparison, in 2006 there were 47 sales above $1,000,000. On the heels of the European financial crisis amid renewed concerns and confusion about the global economic recovery, the real estate market remains illiquid and unpredictable. Demand is still down, inventory of current listings is growing, and days on market are increasing. Generally speaking, buyers are purchasing properties when they find something with the exactly the special attributes they’re seeking, and they are extremely sensitive about pricing. Properties with a significant land component and lots of privacy, priced competitively for today’s market, are those that are getting the most attention and ultimately selling. Our four most recent midcoast maine real estate sales, in July, June and May, are all examples of this trend, offering 16, 21, 34, and 160 acres of land, respectively. Our sense of optimism about the long-term picture for coastal Maine real estate remains as strong as ever. While luxury real estate markets in other parts of the country are severely affected by bank-owned properties driving prices down, ours is not. We continue to believe the next couple of years will be a period of transition, with the market slowly stabilizing, as more buyers and sellers reach agreement and sign contracts. With every sale, buyers and sellers alike have a little more data on which to base decisions, and that knowledge helps fuels the confidence needed to keep things moving forward toward a more balanced market.

For more information on buying or selling real estate in the Camden, Maine area contact Terry Sortwell at tsortwell@landvest.com

Camden Maine Real Estate for Sale

Coastal Maine Real Estate for Sale

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