Aug
9
Midcoast Maine Real Estate Market Shows Improvement
By LandVest
 

MIDCOAST MAINE  REAL ESTATE ANALYSIS, JANUARY – JUNE 2010

 Landvest  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

 
Jun
22
Terry Sortwell of LandVest closes $2,250,000 sale on Islesboro, first 2 million+ sale since May 2008
By LandVest
 

The high-end Islesboro Maine real estate market  has been much like many other secondary home markets—quiet. It took an exceptional 22±-acre saltwater farm on Seal Harbor with 2,670± feet of shorefront, a deepwater dock and a savvy buyer to get things moving again. “The property offered a few key characteristics that buyers in this market are seeking: lots of privacy, a significant land component, and a protected deepwater dock—and it was well priced,” says Terry Sortwell of LandVest. The Islesboro real estate market hasn’t had a sale over $2 million since May 2008 (which was also a LandVest sale), but we are beginning to see sales of waterfront real estate pick up, particularly among properties with these desirable elements. It’s too early to say with any certainty that the market is rebounding, but we are pleased to see this kind of activity in Islesboro real estate and among waterfront properties along the central Maine coast.   For more information about the Longmeadow Farm sale, or for more information about buying or selling Mid-Coast Maine Real Estate contact Terry Sortwell by email tsortwell@landvest.com.

If you are interested in Saltwater farms in Maine, you may be interested in the Moxie Farm in Friendship, Maine

 
Apr
13
LandVest Listing Featured on DownEast Mag Cover
By LandVest
 

Cover Shot: LandVest Listing (Sold)

This month’s cover of DownEast Magazine features a photograph of an island off Camden, Maine, that LandVest sold in 2009. Located in Penobscot Bay with easy access from North Haven, Camden, or Deer Isle, this very special private island covers about 15 acres. It is covered in spruce forest and has a wonderful path running around its perimeter, with benches strategically placed to rest and enjoy the views of the Camden Hills and the islands of Penobscot Bay. Its shorefront is typical of this section of the Maine coast, with beautiful bold granite ledge, cobblestone beaches, and countless tide pools inviting hours of exploration. Just as living on an island presents its own challenges and rewards, so too does buying or selling an island property. In our Camden office, we’re especially fond of island real estate, not only because it allows us the opportunity to ply the Maine Coast in our 32-foot Holland lobster yacht with some of the best islands for sale. It’s also because we also enjoy putting our knowledge and experience to work helping buyers and sellers navigate the complexities of island real estate, such as valuation, logistics, regulations, and the costs and feasibility of development on an island.

Contact Terry Sortwell, Regional Manager and Principal in our Camden, Maine office if you’d like to talk about Maine island properties.  Phone: 207-236-3543

Click here for a list of our Maine island property listings.

 
Apr
5
The Captain Davis House in Cushing, Maine featured in Soundings Magazine.
By LandVest
 

The Captain Davis House, a waterfront coastal estate that LandVest – Camden, Maine has listed in the historic town of Cushing, was featured in this month’s Soundings Magazine.  

The Captain Davis House

The Captain Davis House

The Waterfront Real Estate article tells the story of how George and Joan Brewster fell in love at first sight with their Maine summer vacation home, and how this Cushing, Maine property has come to mean so much to their children and grandchildren. When the family decided that it was time to put this special saltwater farm on the market, they contacted the LandVest Camden real estate office. The property interested us from the very start because it offers a combination of appealing elements that is increasingly rare: a great location, a classic historic home in good condition, a private setting on a large parcel of land with fields sweeping to the shore, a deepwater dock with a dockhouse, and a substantial boathouse. The property was clearly not only a special summer home and waterfront estate, but a generational asset, a true legacy property. We’re pleased that the Brewster family entrusted LandVest with the sale of their special Cushing property and grateful for the opportunity to help someone else achieve the dream of finding his ideal coastal Maine property.

Click here to view Maine Waterfront Real Estate for Sale

Contact Terry Sortwell, Regional Manager and Principal in our Camden, Maine office if you’d like to talk about Maine island properties.  Phone: 207-236-3543

 
Feb
24
Midcoast Maine Market Perspective
By admin
 

Midcoast Maine Market Perspective
First Quarter 2010
The new year has begun with subtle signs of encouragement and indications of renewed activity, although the upper end of the Maine waterfront real estate market remains quiet.

As we look back at sales of properties priced at $1,000,000 and up over the last 5 years, it’s clear that the market peaked in 2007. The next year brought a steep decline in the number of sales (2008 sales down 36% from 2007) and still another drop (down 20%) in 2009.

Sales in this market are still primarily price-driven, with buyers expecting deep discounts from list price, though truly exceptional properties in the very best locations are selling at lesser discounts. We have not had enough sales at the top of the market for anyone to know exactly what impact the slump has had on values, but it’s safe to say that the expectations generated by the market in 2006 are now unrealistic. The biggest challenge now at all levels of the market, but most emphatically at the upper reaches, is a distinct lack of demand. Even though there has not been a huge buildup of inventory (far less than many would expect, in fact), there are still very few buyers. We do expect demand to start picking up as buyers get restless. There is a point at which their impatience and their desire to be in Maine overrides any concerns that the market hasn’t yet reached bottom.
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Feb
13
Camden, Maine Events – The Camden Conference
By admin
 

Maine Events: The Camden Conference – February 19-21, 2010

The 23rd Annual Camden Conference, Afghanistan, Pakistan, India – Crossroads of Conflict, will take place February 19-21, 2010. Founded in 1987, the Camden Conference is a nonprofit, non-partisan educational organization whose mission is to foster informed discourse on world affairs.

Camden, Maine Press: While many people head to Camden, Maine in the summer, there is plenty to see and do in the winter months. This recent article in the Boston Globe outlines Camden’s many winter activities.

Boston Globe Link: Pretty in white. Camden wears its winters well, reading, eating, sleeping, sporting, museumgoing and going shopping

The LandVest – Camden office provides comprehensive Camden Maine real estate services throughout midcoast Maine. LandVest offers luxury and vacation properties for sale from Boothbay to the Blue Hill peninsula. Terry Sortwell and Shannon Thompson will assist you with any questions you might have about buying or selling real estate in the Midcoast Maine area.

For a full selection of Maine islands for sale click here

A classic Maine coastal estate with views of outer Camden Harbor and Penobscot Bay, Gray Rocks encompasses 21± resplendent acres in a private, peaceful setting within close proximity of downtown Camden. Click image for more…

Camden, Maine Contact Information