" " " Maine's Waterfront Real Estate News: To Buy...or Not To Buy ?

Thursday, April 28, 2011

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:

1 comment:

Étienne said...

This post is well written and informative. I don't comment often, but it doesn't cost me anything to say it when its true. Cheers.
Adirondack real estate