LandVest Corporate Headquarters: Ten Post Office Square, Boston, MA 02109     Phone:(617) 723-1800
 
2011 Shows the Way to a Gradual Real Estate Recovery in Vermont
By LandVest
 

Landvest This entry is brought to you by Story Jenks who assists buyers and homeowners  of distinctive Land, Estates and Farms throughout Vermont.  

2010 was a year of consolidation across the markets we serve. With pricing well off the highs of 2005, and approaching 2001 levels in many markets, seller expectations became realistic and buyers stepped in to pick up attractive deals with cash. Yankee thrift largely avoided the distressed market prevalent in the Southwest and California, and bottom-fishers have largely been frustrated at trying to pick off superb properties which hold considerable value despite the market.

LandVest led record sales through this challenging market, reflecting our strength and the quality of the properties we represent. Wyck Estate – spectacular waterfront French chateau reproduction in Manchester, MA was offered for $12.25 million. Lochland – eclipsed only by the previous New Hampshire record set by LandVest in 2006, this former home of Babe and William Paley on Squam Lake sold for $6.85 million. Round Pond Road – remarkable Martha’s Vineyard beachfront property was offered for $18 million and sold in early 2011, setting the tone for a stronger spring market.

North Mowing, located in Springfield, Vermont is privately set on 230± acres and is currently for sale. The amenity-rich estate offers nine clapboard buildings in an idylic Vermont setting.

Vermont

Sales Volume
The Vermont high-end market is predominantly a second (or third…) home market, driven by want rather than need. 2010 volume of state-wide residential sales over $1 million topped 60, improving ever so slightly from 2009’s trough of 54 sales, but down over 57% from the peak in 2005. Sales over $2 million showed a similar trend with a bigger rebound in 2010, but off the peak by 62%. The average marketing period lengthened to over 1.5 years.

It was not until end of 2009 and beginning of 2010 that the scale of price decreases became clear. Here are sample sales in the primary high-end markets in Vermont. (more…)

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Every Great Home Has a Story – The Joseph Titcomb House, Kennebunk, Maine, built with the money that the ships brought in.
By LandVest
 

Landvest This blog entry was brought to you by John Scribner who assists buyers and sellers of distinctive homes in the Portland, Maine area.

At LandVest, we love the proud old houses that line the main streets of New England towns and villages. We are fortunate to represent some of the best of them, and one of the pleasures is learning the stories of the people who built them.

Summer Street in Kennebunk is one such main street, formalized as a National Register Historic District, and lined with Victorian mansions built as summer houses by successful citizens of the late nineteenth century. Holding her head proud among them is the grandly Italianate 1855 Joseph Titcomb House. She has all the finery of her era – a pedimented face to the street, quoins at each corner to give a sense of imposing mass, ornamental corbels supporting elaborately corniced eaves and elaborate millwork inside and out.

Joseph Titcomb House for Sale in Kennebunk, Maine

The Joseph Titcomb House on Summer Street in Kennebunk, Maine was built in 1855.

All this celebration was warranted by the success of her owner, who after graduation from Bowdoin College in 1843 made his mark in the booming industries of the time and the region: shipping, banking and insurance. Joseph Titcomb commissioned two of the largest ships built in the shipyard of Titcomb-Thompson, the aptly named “James Titcomb” at 491 tons, and the “Golden Eagle”, the largest ship ever built at the landing at 188 feet long. Joseph Titcomb’s legacy lives on today in the Ocean National Bank and Cole-Harrison Insurance, each of which he served as their first President.

The Joseph Titcomb House is set on 2.6± acres, and has been meticulously maintained. The six-bedroom main house offers over 6,600 square feet of living space. A three-story carriage house, a one-room playhouse or garden house, a reflecting pool and stunning landscape artistry across the property complete this exceptional offering.

This Italianate style home was designed by Gridley James Fox Bryant, a prominent Boston architect.

The beautifully landscaped yard is one of the many impressive features of this historic summer home.

Titcomb selected prominent architect Gridley James Fox Bryant to design and build the house based on Bryant’s reputation and body of work in the Boston area. Bryant got his start working for his father Gridley Bryant who was a railway entrepreneur. The younger Bryant worked in his father’s engineering firm and developed his understanding of architecture and design. Bryant’s first work was the Broadway Savings Bank in South Boston in 1830, and he went on to be a leading proponent of the “granite Style” in Boston. Some of his works include, Old City Hall, Boston City Hospital, Mercantile Wharf Building, the Quincy School and many private residences. Gridley J. F. Bryant was credited with the Gridiron Street pattern in Boston’s Back Bay.

This home, like it’s first owner, has been a center point of the Kennebunk community since since it was built. Most recently, it was recognized by The Week magazine as one of the finest properties in America for sale under $2,000,000.00 in 2010. It is conveniently located just a few miles away from the famous beaches and shops of Kennebunkport and 30 miles to Portland or 80 miles to Boston. The property offers easy access to the culture and transportation amenities of the larger cities of New England and the unique opportunities of one of Southern Maine’s most famous coastal summer communities.

For more information about the Joseph Titcomb House for sale

Click to view additional distinctive homes for sale in the Greater Portland Area of Maine

Click to view John Scribner’s contact information

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LandVest Launches Index to Track High-End Real Estate Sales
By LandVest
 

  

 The LandVest Index of High-End Real Estate

LandVest, an exclusively high-end focused real estate firm based in New England, announces the creation of the LandVest Index. The LandVest index tracks high-end $2,000,000 plus real estate sales in Maine, Massachusetts, New Hampshire, Rhode Island, Vermont, and the Adirondack region of New York. For 2010, the number of high-end sales across LandVest’s territory increased by 33% compared to 2009.  

One of LandVest’s many record sales in 2010

However, compared to the peak year of 2007, high-end sales are still off by 26%. In 2010 there were 430 sales compared to 324 sales in 2009, and 582 sales in 2007. More detailed market reports including long-term trends in listings, sales, average and top sale prices, and days on market are being developed and are currently available (see Cape Cod Market Perspective) for Cape Cod and Middlesex County,  Massachusetts (see Middlesex, MA Real Estate Market Report).  

Stewart Young, LandVest’s Regional Manager for Cape Cod, also active in the western suburbs of Boston, developed the LandVest Index. According to Young, “2010 was a recovery year. We saw an increase in the number and scale of transactions across the high end markets. Looking into 2011, we are seeing increasing activity from buyers.” Citing the strong relationship of high end sales activity to stock market performance, Wall Street profitability, and the overall economy, he noted that the underlying conditions for the market appeared to be supportive of the high end real estate market.  

According to Ruth Kennedy Sudduth, LandVest’s Director for Residential Brokerage, “LandVest is the leader in marketing luxury real estate and is unique among brokerage firms in being solely focused on special properties at the very top of their markets. This specialized expertise enables us to provide the best results for our clients. The LandVest Index will provide owners, buyers, and sellers of high-end real estate with an objective summary measure of performance in this specialized market segment”.  

LandVest, founded in 1968, and headquartered in Boston, Massachusetts, is a leading brokerage firm for luxury real estate across New England. The firm provides advisory, brokerage, and timberland services. Exclusive affiliate of Christie’s International Real Estate, LandVest enjoys global reach through their affiliation with the global fine art auction house and their private network of high end real estate associates. Recent major transactions include:  

The Wyck Estate, located in Manchester-by-the-sea sold in 2010

  • Advising in the recent private purchase of 1,000,000 acres of timberland in Maine,
  • Marketing and sale of Wyck, a waterfront chateau listed for $12.25 million in Manchester, MA.
  • Sale of a $15 million waterfront estate on Martha’s Vineyard
  • Record sale of the former Paley estate, Lochland, a Roaring 20’s Great Camp on Squam Lake.

For information about LandVest’s marketing of residential real estate, contact Ruth Kennedy Sudduth, 617-359-5584, rsudduth@landvest.com.  

Click to view Extraordinary New England Real Estate for Sale

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