To Buy...or Not To Buy ?

…THAT is the question – not for Hamlet -- but for many first-time home buyers, folks looking to upgrade their living situation, and for those contemplating purchasing a vacation or second home on the waterfront in Maine.

While there are some strong signs pointing to an economic recovery – big gains in the stock market, increasing employment figures, and a generally more optimistic view of the future – there are still those predicting a double dip for our economy.

So it comes down to the age-old question: how do you know when we have reached bottom? And… as always… the answer is: no one can know for sure – until several months after we have already passed it…

Our view is that 1) real estate is always “local” in nature – what is happening in one part of the country, state, or metro area may not be happening in another, so you need to investigate the specific area you are interested in, and 2) unlike some “red-hot” markets in the 90’s and the first few years of this decade, prices in Maine did not go up that rapidly, and therefore don’t have as far to fall…but prices here HAVE come down 10-20% on average since their high point.

While the cliché “now is always the best time to buy” may not have been true during the recent 3-4 years -- with the current large inventory of properties available, very low mortgage rates and Sellers who are very negotiable on price – we have some buyers who are taking advantage of the existing market conditions to make some excellent purchases.

If you would like to find out if there are any bargains that fit your property needs, either give us a call or submit a “Customized Property Search at:
http://waterfrontpropertiesofmaine.com/customized-property-search.php

Some New Talent

Waterfront Properties of Maine is pleased to announce the addition of Erik Amundsen to our team of experienced waterfront brokers.

Erik came to us from Prudential Real Estate’s office in Camden, Maine. His waterfront experience began in the 1960’s, when his Connecticut family purchased a summer place on a small island off the Midcoast Maine area near Port Clyde.

He took over his family’s boating business in the late 1960’s, which owned and operated a boatyard, a marine supply store, plus a full service marina.

When Erik sold the business in 2003, he moved to Maine permanently, purchasing and renovating a 1777 farm house on Seven Tree Pond near Union. In addition to embarking on a second career in real estate, he has started a small vineyard where he hopes to produce some premium Maine wine.

His specialty is coastal waterfront properties and he may be reached by phone at (207) 542-1404 or by email at erik1am@aol.com