Portland, Maine Ranked #4

Ten Real Estate Markets to Watch in 2011
An Inman News Special Report
By Andrea V. Brambila, Friday, March 11, 2011.

Inman News has ranked the Portland, Maine area as #4 out of the 10 real estae markets to watch in 2011:

#4.Portland-South Portland-Biddeford, Maine
Total population (2009): 516,826
Median sales price (Q4 2010): $223,000
Median sales price % change (Q4 '09-Q4 '10): 8.3%
Sales volume (# units sold in 2010): 4,607
Sales volume % change (2009-10): -0.5%
Unemployment rate (Dec. 2010): 5.9%
Foreclosure activity rate (2010): 1 in 150 units
Walk Score: 55


Low unemployment, a rising median sales price, high affordability, a jump in building permits, and better-than-average projected job growth added the Portland market to the list. The market's median sales price rose 8.3 percent between the fourth quarter of 2009 and the fourth quarter of 2010, to $223,000, according to NAR. Unemployment was at 5.9 percent in December and projected job growth from the third quarter of 2010 to the third quarter of 2011 is 2.8 percent, higher than the nation as a whole (1.9 percent).


The area's major employers include L.L. Bean Inc., Maine Medical Center, UnumProvident Insurance, Hannaford Brothers supermarkets, Banknorth Group, Anthem Blue Cross Blue Shield and Fairchild Semiconductor. The area is also home to the Portsmouth Naval Shipyard and an Air National Guard base

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Copyright 2011 NATIONAL ASSOCIATION OF REALTORS®

Fall Foliage Report

The outlook for the 2010 fall foliage is shaping up to be a good one. The first report will be available on September 15. The forests are healthy and Mother Nature has graced us with a long, hot summer, with adequate moisture. Keep track of nature's spectacle with weekly updates from www.MaineFoliage.com You'll find a report for where to find the best color, along with photos submitted by

Maine Home Prices Up...Sales Down

In a press release today, The Maine Association of Realtors reports Maine home sales decreased 30.07% in July 2010 compared with July 2009. The decrease was anticipated, reflective of the end of the federal tax credit which had created an accelerated demand to go under contract by a specific date. National home sales figures show a 25.6% decrease in that same time period, and the Northeast a 30.03% decrease. However, Maine median home sales prices are still increasing. The median sales price rose 4.23% to $172,500 in July 2010, compared with July 2009. Median indicates half sold for more and half for less.

Obamas Weekend in Maine

USA Today - July 16, 2010


America may be divided over President Obama, but one thing must be agreed upon: He knows how to pick pretty vacation spots

How else to explain the First Family's visit this weekend to often-overlooked Acadia National Park, Maine's spectacular contribution to the nation's national park system? Its rocky shores and rising mountains might not be as dramatic as Yellowstone or Yosemite, but it's a photographer's dream.

The president, first lady Michelle Obama and daughters Malia and Sasha will jet there around noon today for two nights away from Washington's heat -- and heated politics. As they prepared to leave, temperatures in the nation's humid capital were headed well into the 90s, with a heat index of 105.

The Oval hesitates to opine, but in the interest of a fun family vacation, we offer these suggestions:

•Drive the 20-mile Park Loop Road, stopping frequently for snapshots.
•Check out Sand Beach and its bracing waters.
•Pause frequently in search of whales.
•Climb at least part of Cadillac Mountain, the East's tallest.
•Dine on blueberry pancakes in the morning and fresh lobster in the evening.

That is, if the Obamas are lucky enough to have two uninterrupted days. That hasn't happened much on their family outings.

Maine Home Sales Up 62% in April

SOUTH PORTLAND (May 24, 2010) - Sales of Maine single-family existing homes rose 62.95 percentin April 2010 compared with April 2009.

According to the Maine Real Estate Information System, (MREIS), Realtors sold 994 homes in April 2010; and the statewide median sales price (MSP) forhomes sold increased 3.41 percent to $165,450 from April 2009. The median sales price indicates
that half of the homes were sold for more and half sold for less.

The end of the federal home buyer tax credit contributed to strong sales figures in April 2010.

The National Association of Realtors (NAR) reports a 20.5 percent nationwide increase in singlefamilyhome sales in the same time period. The national MSP rose 4percent to $173,400 in April.In the regional Northeast, sales were up 41.6 percent and the MSP of $243,000 reflects an increase of2.1 percent.

A Very Special Downeast Coastal Contemporary Home

A lovely, contemporary home on a quiet, protected, deep water bay opening to the Atlantic Ocean -- perfect for mooring a boat for exploring the many islands, bays and villages of the Downeast coastline. The waterfront of this 2 acre parcel includes a small sand beach plus tide pools to explore. Nearby is a lobsterman's wharf where you can sometimes get fresh seafood for a Maine-style dinner, and a ferry to Bar Harbor for a nice days outing is just 20 minutes away. The home features a huge stone fireplace, an open floor plan with cathedral ceilings, hardwood floors, a sun room and 3 decks with ocean views Check the VIRTUAL TOUR of this outstanding property at http://www.realtourvision.com/tour/RE/rst.view.new.php?utl=RE-4029-BY79GO-02&opt=4

$695,000

Waterfront Properties of Maine
Website: www.WaterfrontPropertiesOfMaine.com