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LandVest listing Garrison Field in Cape Elizabeth, Maine is featured in Wall Street Journal
By LandVest
 

Garrison Field in Cape Elizabeth, Maine
was featured in the Wall Street Journal

This 5,800 sq ft English Cotswolds-style manor home has 11 rooms and 6 baths and sits on more than 14 acres fronting the Atlantic Ocean

The Great room is defined by a 32-foot cathedral ceiling that includes hammer-beamed arches and grand fireplace with carved stone surround

Library features hand-painted mural of Cape Elizabeth and connects to porch at poolside terrace

Poolside terrace connects residence to pool area from great room and ibrary covered porch

46'x 16' pool is believed to be the oldest residential swimming pool in Cape Elizabeth

Imported Marston and Langinger seaside conservatory with fireplace, telephone, gas, electric and cable.

If you missed the open house, click here to read Marie C. Baca’s Wall Street Journal article
about this ocean front property in Maine.
Click here to see property details for Garrison Field.

For more information on Maine Real Estate for sale in Portland, Maine and surrounding area
contact William Davisson at wdavisson@landvest.com or click for William Davisson’s contact
information
.

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LandVest Real Estate Activity in Maine: A Reason for Optimism
By LandVest
 



Landvest This entry is brought to you by Terry Sortwell and Shannon Thompson, who assist and advise real estate owners and buyers of fine homes and estates throughout Midcoast Maine.

We at LandVest
have seen increased activity this year,
with a number of encouraging sales. The statistics—and other characteristics of the
market—suggest that values and sales activity
are in a holding pattern at the bottom. Statistics from the Multiple Listing Service (MLS) show that
in the coastal towns from Boothbay to Blue Hill there have been twenty sales of properties priced
over a million so far this year, with one sale pending. Of these, seven are LandVest listings.
Statewide, there have been 119 sales and 12 sales are pending. This is consistent with the number of
sales in 2010 (27 in the midcoast region, 140 statewide.)

Indian Head, Northeast Harbor, Story Litchfield's LandVest listing, was the highest recorded residential sale in the state of Maine

Statewide at the very top of the market, above $3 million, there have
been nine sales statewide, and four sales are pending. Of these thirteen sales, eight were LandVest
listings, and four of the five sales above $4 million were LandVest listings. There were twelve
sales above $3 million in 2010.

A recent white paper by Edward
Chancellor from the global investment management firm GMO examined the stages of the real estate
cycle. Typically the peak is characterized by high valuations, high levels of private sector credit
growth, new forms of lending, high levels of construction, speculative purchasing, and rising
interest rates. A credit crunch and defaults on existing property loans generally signal the turn,
and then the market begins the long, slow slide into “the trough,” where the market tends to linger
due to the lack of liquidity in real estate. We are clearly in this trough, which is characterized
by low valuations, lower leverage, low housing turnover, pent-up demographic demand, and continuing
pessimism toward real estate. Since markets tend to move more slowly on a decline or when moving
laterally, they usually spend several years in the trough.

The Real Estate Cycle in Five Stages, source: GMO

The real estate market is moving through its paces, and there are
reasons for optimism, especially on the coast of Maine. On average, it has taken real estate markets
five years to hit the trough after a bubble, and it’s been five years since housing prices peaked.
And Chancellor believes there are other indications that the worst is over: valuations are
reasonable. Mortgages are available, and at lower rates than we’ve seen in decades. Supply remains
elevated relative to demand, but sales have fallen to an extent that if demand recovers to normal
levels, excess supply would disappear—and in some markets, be replaced by a shortage.

Caldwell Island, a record sale for Muscongus Bay, by Terry Sortwell, regional manager and principal with LandVest in Camden, Maine

Here in Maine, as in elsewhere in the country, buyers are holding back.
The vacation home market has many defining characteristics, and these days perhaps none is more
definitive than the fact that no one has to buy a second- or third- home. So the majority of buyers
are still waiting, and while they wait, demand builds, which bodes well for the future. Chancellor
believes, and we agree wholeheartedly, that the long-term fundamentals of the real estate market are
sound. When the economy recovers and unemployment declines, home prices and construction will both
pick up, and a real estate boom will follow. The new buyer, who is younger (ages 30-50) and more
mobile, is increasingly attracted to Maine,
its quality of life, and the relatively reasonable real estate values to be found here. We’re seeing
more and more buyers from this growing demographic, many with young children, deciding that it’s
time to fulfill their dream of a vacation home here.

Though we’re
in the trough, we’re not without hope, nor without sales activity. We can say with some confidence
that the stalemate between buyers and sellers that we’ve been talking about for the last couple of
years has broken. There have been enough sales of waterfront and other exceptional properties
to allow buyers, sellers, appraisers, and brokers to draw educated conclusions about valuation. With these sales we’re starting to have enough hard data to
begin to gauge real value in the current market. When sales offer more concrete rationale for
pricing, they also generate more confidence among buyers to move forward.

Lilyhaven, Isleboro, sold by Terry Sortwell and William Davisson

While we are beginning to have a better grasp on valuation and pricing,
it’s very difficult to predict what’s going to sell or in what period of time. At the top of the
market, most properties are experiencing slight decreases in value, though the very best among them
are holding value well. The sale (by our Northeast Harbor broker Story Litchfield) of a property on
Somes Sound for $12.25 million was the highest residential sale
ever in the state of Maine. In our own area, our February sale of Caldwell Island in St. George for $4.7 million is another
example of an exceptional property holding its value well, as is the sale of a property on Deep Cove inn Port Clyde for $1.9 million, and the sale of land parcels on
North Haven for $1.7 million. A property on Bremen Long Island that sold in early October for
$635,000 was one of several that attracted multiple offers.

Another peculiarity of this market has been dramatic bursts of activity in
very small markets. Islesboro, for instance, only had one sale over a million in 2006 and 2007. Then
in the three years between 2008 and 2011, sales activity jumped, with eight sales in this range.
There have been two sales this year. Similarly, the market on North Haven was dead quiet for years,
with only three sales above a million in the five years leading up to 2011. This summer and fall
there were six sales.

It remains to be seen whether these flurries
are isolated bubbles of activity or something of greater significance—pointing, perhaps, to renewed
confidence in Maine real estate. We certainly hope it’s the latter and
have many reasons to believe so.

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Maine Real Estate and Waterfront Featured Property: Cragmere-by-the-Sea in Cape Neddick, ME
By LandVest
 

Maine Real Estate and Waterfront Featured Property:  Cragmere-by-the-Sea

Aerial view of residence and studio guest quarters

LandVest, the recognized leader for Maine real estate, waterfront homes and estates throughout New England, offers a rare historic property in Cape Neddick, Maine.

The crowning achievement of distinguished Portland architect Antoine Dorticos, Cragmere-by-the-Sea is a masterful expression of Shingle-style vernacular, with Romanesque entry arches, granite stonework and definitive Arts and Crafts-inspired interiors.

Living room opening to the veranda and ocean views

Commissioned in 1888 by George M. Conarroe of Philadelphia as a summer home for his family,
this residential compound, situated on 1.410± acres, enjoys captivating views of the Atlantic Ocean, Bald Head Cliff, Nubble and Boon Island lighthouses, and the Isle of Shoals.

The main residence presents fourteen beautifully restored rooms, five bedrooms and six baths. The original stained glass windows, vaulted ceilings, five fireplaces and views over mature gardens to the sea provide the welcome.

2 story entry foyer accesses all first level rooms

A sweeping staircase
frames the two-story entry foyer, central to the living, dining, library, and exterior terraces and decks. 
A seaside master suite with an observation deck, four additional bedrooms, two with fireplaces, three baths and a center-hall laundry envelope family and guests. A third level features
an office with mesmerizing
sea views, an expansive entertainment room, guest rooms and bath. A studio guest house, built in 2010, extends the Shingle-style personality of the property, steps from the residence.

The two-car garage includes an expansive second floor storage/studio space. A circa 1895 grand residence
with expansive sea views and radiant heat is a rare offering, indeed.

  • Cragmere is a convenient forty-five minutes from Portland, its cultural, recreational, business amenities and transportation hubs, and approximately sixty-five miles to Logan International Airport and Boston.
  • The Town of York and Ogunquit, Southern Maine’s most popular summer resort, features seaside inns, sandy beaches, golf and tennis facilities, popular arts and entertainment venues, and critically acclaimed restaurants and merchant offerings.
  • Cape Neddick presents some of the most spectacular rocky oceanfront along the coast of Maine.
  • Seaside environs along the bucolic shore road between York and Ogunquit are signed by wooded driveways and landscaped grounds.
  • Deepwater marinas access exceptional sailing and fishing along the Maine Atlantic coastline.

A fully modern kitchen with access to the dining room and side deck

Stewardship of Cragmere continues, as restorations acknowledged with a 1999 Maine Society for Preservation Award, the first residential property to receive the recognition, enjoy ongoing refinements during 2009-2010.


LandvestThis blog post is brought to you by William Davisson, who advises and assists distinctive real estate homeowners, and buyers of land, estates and farms in the Portland, Maine and surrounding areas. Contact William Davisson (wdavisson@landvest.com) in our Portland, Maine office if you would like more information about this property or his other real estate listings in Maine.

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LandVest listing Garrison Field in Cape Elizabeth ME is Portland Magazine’s October Cover Story
By LandVest
 

Garrison Field in Cape Elizabeth, Maine is Portland Magazine’s October Cover Story

In the October issue of Portland Magazine, editor Colin Sargent chose LandVest real estate listing Garrison Field, a Maine historic oceanfront estate in Cape Elizabeth, as his cover story.  Colin toured the property with listing broker William Davisson and later confessed that Garrison Field was among his all-time favorite properties.  “We are in the business of marketing extraordinary properties in the most desirable locations,” said William Davisson, and Garrison Field defines extraordinary among the historic Greater Portland area properties.  Colin walks his readers through the remarkable details that make this property one of Maine’s best.

Relax on this poolside terrace and soak in the country lifestyle!

Enjoy the breathtaking brick-walled gardens with views to the sea

Click here to see property details for Garrison Field.

For more information on Maine Real Estate for sale in Portland, Maine and surrounding area contact William Davisson at wdavisson@landvest.com or click for William Davisson’s contact information.

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Maine Coast Real Estate News: High-End Market Showing Increase in Activity
By LandVest
 

Indian Head, Northeast Harbor, ME Listed At: $15,500,000 was the highest recorded residential sale in the state of Maine. Broker: Story Litchfield

Despite global economic and stock market concerns, the high-end coastal Maine real estate market is seeing a positive increase in activity.  Terry Sortwell of LandVest in Camden, Maine reports on the coastal Maine real estate market.  “In the last six weeks we have had an unexpected surge in the number of productive showings in midcoast Maine. Despite market conditions, the buyers that we have spoken to lately do not appear to be concerned with making a real estate investment.  On the contrary, they feel they are getting a good deal and feel a sense of urgency: if they don’t buy, someone else will.”  That sense of urgency is not without merit.  “Several of our recent sales have had more than one person on the waiting list,” says Ruth Kennedy Sudduth, director of the Residential Brokerage Division. “an occurance that we have not seen happen in quite some time.”  In addition, the recent activity has a wide spread in terms of price points.  Story Litchfield of LandVest’s Northeast Harbor office recently brokered the sale of Indian Point which was the highest residential sale in the state of Maine.

John Saint-Amour from LandVest’s Portland office reports similar increased activity in southern coastal Maine and into the western lakes region. With buyers looking for value, sellers are working with realistic offers and properties are selling. For the entire state of Maine since 1/1/2011,  John reports that there have been 15 sales at $2,000,000 and over. LandVest did 7 of these 15 sales. Of the 11 “pending” transactions in the $2,000,000 and over, LandVest is responsible for four of these properties.

William Davisson, also of the LandVest Portland office, reports dramatic increased activity from buyers having interest in properties in Southern Maine. Oceanfront positions, proximity to amenities, accessibility to transportation, and relative turn-key quality define search parameters for these buyers. The recent financial market turmoil has not deterred prospect property visits with most buyers. It is generally acknowledged that value in Maine Coast real estate is present. York and Cumberland Counties currently have three properties pending, and one sold, listed above $3MM. LandVest represented the Sellers for the $4.2MM sale, and is managing two of the pending transactions.

John Scribner, also from the LandVest Portland office, reports there seems to be a sense that the bottom has been realized and that the market is beginning to turn.  This phenomenon requires a unique property with realistic pricing (there has to be the appearance of a good deal for all parties) but it is an emotion we are sensing in the market place we have not seen in a long time.  The coast of Maine has been a dream of many for many years, but sellers over confidence (over pricing) and market conditions (recessionary times) have limited opportunities for intelligent buyers.  The barriers to entry seem to have lifted a bit.

Below is an illustrative collection of LandVest – Maine  listings that have gone under agreement or sold  in the last few weeks.

Pine Knot, Kennebunk, ME, $3,850,000 -Broker: John Scribner

Seabury Farm, York Harbor, ME $3,495,000 Broker John Saint-Amour

Long Reach, Harpswell, ME $1,745,000 Broker: John Saint-Amour

Eastern Bay Farm, North Haven, Maine, $1,875,000 Broker: Terry Sortwell

Harbor House, St. George, ME $975,000 Broker: Terry Sortwell/John Saint-Amour representing the buyer

Deep Cove, St. George, ME, $2,175,000 Broker: Terry Sortwell

Isleview, Seal Harbor, Mount Desert, ME, $950,000 Broker: Story Litchfield

Pratt's Island Cottage Southport, ME, $1,250,000 Broker: John Scribner

Lilyhaven, Islesboro, ME, $3,495,000 Broker: William Davisson

For more information about buying or selling distinctive real estate in Coastal Maine or information about any of the properties that have sold or are under agreement in Bar Harbor, Northeast Harbor and the Down East area, Camden/Rockport and the mid-coast Maine region, York County, Greater Portland and Boothbay Harbor regions, contact one of our Maine Real Estate Brokers.

Camden, Maine Area Real Estate Broker

Portland, Maine  Area Real Estate Broker

Northeast Harbor, Area Real Estate Broker

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New Maine Waterfront Properties for Sale
By LandVest
 

New Maine Waterfront Properties for Sale in Brooksville, Rockport, Bremen Long Island, Cushing and Washington

For more information, click on photos or contact:  Terry Sortwell tsortwell@landvest.com or Shannon Thompson sthomson@landvest.com or call 207-236-3543.

Harbor House

6.13 acres with walking paths to 860 feet of easily accessible shorefront

380 Port Clyde Road, St. George, ME 04860

$975,000

__________________

Cove House

~1 acre property includes 260 feet of waterfront and private sand beach.   

19 Sea Street, Rockport, ME 04856

$5,450,000

____________________

Winfield Point

6 acres of classic island property

11 Bremen Long Island, Bremen, ME 04551

$675,000

____________________

30 Davis Point

Property is on 45 acres with tidal frontage on Davis Cove

30 Davis Point Road, Cushing, ME 04563

$975,000

____________________

 

Patrick Mountain

453 forested acres on the shoulder of Patrick Mountain

777 Old County Rd., Washington, ME 04574

$975,000
____________________

For more information on Maine Luxury Real Estate in the Camden Maine, Midcoast area contact (click link for contact info) Terry Sortwell, or Shannon Thompson

Click here to view Terry’s current listings.

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New Maine Waterfront Properties for Sale
By LandVest
 

New Maine Waterfront Real Estate for Sale in Harpswell, Castine and Kennebunk, ME

For more information, click on photos, call the LandVest – Portland Maine  (207) 774-8518 or contact the Portland broker listed with each Maine property.


Coveside

1.80 Acres

393 High Head Road, Harpswell, ME

$1,625,000

For more information, contact William Davisson
————————————————

Morey-Pierce House

2.60 Acres

67 Perkins Street, Castine, ME

$4,250,000

For more information, contact John Saint-Amour or Terry Sortwell

————————————————

Pine Knot

3.19 Acres

48 Parsons Beach Road, Kennebunk, ME

$3,850,000

For more information, contact John Scribner

————————————————

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Maine Coast Farms and Salt Water Farms For Sale
By LandVest
 

The Moxie Farm is a 36± acre saltwater farm (with 3,425± feet of deepwater shorefront) located on the northern point of Friendship Long Island, in Maine

In coastal Maine, saltwater farms and farms near the coast are in increasingly high demand. We are seeing new, serious interest in farms among buyers of high-end real estate. Most are interested in land conservation and small-scale farming activities. Popular as vacation properties as well as private residences, farms on the Maine coast offer historic properties with beautiful, private settings at exceptional value. Some, like the Moxie Farm, are true saltwater farms. Located on Friendship Long Island, in Friendship, Maine, the Moxie Farm includes open fields and pristine woods together with a historic farmhouse, barn, and over 3400 feet of shorefront. Its two deepwater wharves and proximity to Friendship village offer easy access as well as privacy.

Eastern Bay Farm in North Haven, Maine encompasses 90± acres and 580± feet of waterfront with a wide pebble beach

Another waterfront property and saltwater farm is Eastern Bay Farm, located on the island of North Haven, easily accessed by public ferry or small plane. The historic property includes some 95 acres with 580± feet of shorefront, including a spectacular beach. The views of surrounding islands and Penobscot Bay are wonderful. The house is a classic historic Cape overlooking rolling fields.

With 133± acres, Two Century Farm in Bristol, ME is an idyllic sanctuary rich in historical interest, architectural appeal, and scenic beauty.

Two Century Farm in Bristol  is another bucolic property. Steeped in colonial history and rich with character, the 133± acre farm property is located close to Maine waterfront towns on the Pemaquid peninsula but is a completely secluded, hidden sanctuary. With stone walls bordering meadows and an exquisite late 1700s Cape, the farm is a wonderful example of farmland preservation.

30 Davis Point Road, in Cushing, ME is a meticulously crafted extended Cape and barn are perfectly sited on a hilltop overlooking this property's 45± acres

Our final Maine coast farm offering is 30 Davis Point Road with an impeccable traditional extended Cape, perfectly sited on a hilltop, overlooking meadows and a pond. The property is located on the desirable Davis Point peninsula in Cushing, Maine, and includes a small amount of tidal frontage on Davis Cove. We love the combination of the ocean and the beautiful rural character of Midcoast Maine. The bucolic character and feeling of being away from it all makes Robert Shiller’s article on the compelling case for farmland investment even more appealing.

 

Click to view Coastal Maine Real Estate For Sale and Midcoast Maine Farms for sale (For more information about living in Midcoast Maine, contact Terry Sortwell(tsortwell@landvest.com) or Shannon Thompson (sthompson@landvest.com)

LandVest This entry is brought to you by Terry Sortwell and Shannon Thompson of LandVest – Camden, Maine who assist and advise real estate owners and buyers of fine homes and estates throughout Midcoast Maine.

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New England Farms for Sale – An Introduction to LandVest’s Portfolio of Equestrian/Horse Properties, Gentlemen’s Farms and Farmland for Sale
By LandVest
 

LandVest has long specialized in the marketing of farm properties in New England.  A quick look through our current listings identifies over  35 “farm”  properties for sale.  New England horse farms for sale range from an idyllic Woodstock, Vermont equestrian property with every facet polished to a brilliant shine (Uphill Farm, Woodstock, VT) to a private estate with a timber frame barn and dressage arena in Wayland, Massachusetts (Stonegate Farm, Wayland MA).  We have an antique 18th century farm for sale in Southern New Hampshire, completely period in appearance, but updated in function (Little Brook Farm, Jaffrey, NH), and a stunning equestrian facility with heated barns and every amenity (Shadow Fox Farm, Peterborough, NH)  From charming kitchen gardens in a pastoral setting in Maine (Salmon Falls Farm, Bar Mills, Maine) to Ellen Biddle Shipman-designed terraced gardens with bold mountain views in Vermont (North Mowing),  a secluded retreat in the Northeast Kingdom of Vermont (Heavensent Farm, Peacham, Vermont) to an opulently redone estate 30 minutes from downtown Boston (Meredith Farm, Topsfield, MA). Many also include extensive waterfront and range from a 1,300 acre conserved working farm on the New York side of Lake Champlain (Bessboro Farm, Westport, NY) to a saltwater farm on 16 acres with a replica 18th century thatch-roof barn, private dock and spectacular views of Cape Cod Bay (Mill Farm Waterfont Compound). We have properties to fit an array of budgets and tastes. 

A farm, we know, is in the eye of the beholder.  Each of these properties is magical in their own way and represents the vision of its owners – often generations of them – in creating a unique and personalized landscape with a soul of its own.  We will be posting a series on farms in the coming weeks and invite you to follow along on a tour of some of the special places which make New England farm living so appealing. 

Click below for more:

Farms for sale in New England
Equestrian Facility for sale

LandVest This blog post has been brought to you by Ruth Kennedy Sudduth, who, as the director of LandVest’s Residential Brokerage Division, has a unique perspective on the luxury real estate market.  This regular feature will chronicle special places and give readers insights on New England’s high end real estate market.

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Bangor Daily News Gets Midcoast Maine Real Estate Perspective from Terry Sortwell
By LandVest
 

Terry Sortwell, Regional Manager in our Camden, Maine office, is quoted in the Bangor Daily News article (BDN) titled Housing Bloom?  BDN business writer Matt Wickenheiser examined the current state of Maine’s real estate markets, including coastal Maine real estate, and talked to Terry for his view of Maine waterfront properties and Maine luxury real estate in particular.

Terry Sortwell is a principal and regional manager at LandVest’s Camden office. The firm deals in high-end properties, generally more than $1 million. He suggested that the current market conditions have shown, once again, that real estate is not a liquid investment.

“If there’s not a lot of demand for the property you own, you can reduce the price way down below what one would think it’s worth and still not sell it,” said Sortwell. “You can’t make a market for it — that’s part of the frustration many sellers are going through.”

The market he deals in got very quiet about three years ago, reviving a bit last year, said Sortwell.

“Basically, buyers have been …”  Read the full article

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