Portland, ME Real Estate News

By David Roberts, (207) 741-2006
(The Maine Real Estate Network)
The Southern Maine area experienced a busy fall with the first time homebuyer  tax incentive driving a portion of the market. With the new extended and expanded version of the tax credit - allowing buyers to take advantage of the credit in the first quarter of the new year shows great promise in continuing the trend in to the new year. We are even seeing buyers staring to jump back into the middle portion of the market ($250-500K) homes and I am working with home buyers actively looking in what is a traditionally slower time of the year during the holiday season. This is good news - heading toward stability in the marketplace in 2010. All the best - and a prosperous new year to all! 963 Roosevelt Trail, Naples $849,000   11 Minniewawa, Raymond - Panther Pond $399,000
Comments 0
By John Herrigel, Portland, ME - Real Estate
(The Herrigel-Kennedy Group - Portside Real Estate)
For the month ending November 2009 the Portland Maine real estate market saw 55 residential transactions occur at a combined median price of 212K representing a pricing decrease of ONLY 4% relative to a year prior, but compared to October 2008 it represents a pricing increase of 4% month over month! These are the best housing results of the year so far and a very encouraging sign for the real estate markets in Maine as a whole!! In addition, volume was up 8% compared with December 2008 and up 12% relative to October. To get more information on this Southern Maine real estate community please visit www.mymaineproperty.com, contact me directly at 207-650-5383 or via email at john@greentreemaine.com
Comments 0
By John Herrigel, Portland, ME - Real Estate
(The Herrigel-Kennedy Group - Portside Real Estate)
I recently did a bit of analysis on the condo market in Portland Maine. My conclusion: Basicallly the current inventory is overpriced and we are on track to sell just about HALF the volume we saw in 2005, wow!  No huge surprises here given the economic and global climate, but I was a bit startled at the unrealistic expectations of many sellers still. There are currently about 200 condos on the market in Portland with a median asking price of 220K. In 2008 the median sold price was 214K, not far off, but to date in 2009, the median price for a Portland Maine condo for sale was 184K, significantly less than 220K.  Part of this figure is clearly the result of lower priced foreclosures and the first time home buyer market snapping up cheap listings, yet the median days on the market for thi...
Comments 0
By John Herrigel, Portland, ME - Real Estate
(The Herrigel-Kennedy Group - Portside Real Estate)
For the month ending October 31st, 2009, Happy Halloween :), the city of Portland saw 49 residential real estate transactions take place at a median price point of 200K, down 9% in pricing from October 2008, but representing a volume increase of 25%, perhaps due largely to the Maine first time homebuyer purchasing prior to the possible expiration of the federal housing tax credit.  The current inventory of homes as of today was 432, down marginally from last mont. For more info on Portland Maine property for sale, please visit www.mymaineproperty.com. Thanks for reading, John HerrigelMaine Buyers Agent
Comments 0
By Jeff Mateja, Southern Maine Real Estate
(Keller Williams Realty - Universal Properties)
For more similar blog entries from Jeff Mateja, please visit his Portland, Maine blog at www.ILovePortlandMaine.com In early October of 1992, the Time and Temperature Building downtown would be illuminated to read "Play Ball", but who knew a Double-A minor league baseball team would be such a success in Portland, Maine. Days later, on October 4, 1992, it was announced that Portland, Maine, would join New Haven, CT, as the site of one of two new expansion teams. When tickets went onsale on February 26, 1994, there were die hard baseball fans camped out in 12 degree weather to be the first to get their hands on tickets for the inaugural season, and opening day was sold out in only a few hours. Sure, Kathy Lee Gifford would sing the National Anthem, and Frank Gifford would throw out the ce...
Comments 1
By Jeff Mateja, Southern Maine Real Estate
(Keller Williams Realty - Universal Properties)
For more similar blog entries from Jeff Mateja, please visit his Portland, Maine blog at www.ILovePortlandMaine.com Portland will be jamming Sunday, November 29, as the improvisational band Phish hits Portland for one night only between New York gigs. With a very devoted fan base, the Cumberland County Civic Center is sure to be mobbed with a sell-out crowd. Doors open at 6:30pm and the show starts at 7:30pm. A limited number of tickets are available directly through Phish Tickets’ online ticketing system. The ticket request period is currently underway and will end Friday, October 16th at 5:00pm EST. Tickets will go on sale to the public on Saturday, October 24th at 9:00am EST. Tickets can be purchased online at http://www.ticketmaster.com. Tickets may also be purchased, with no servic...
Comments 0
By Jeff Mateja, Southern Maine Real Estate
(Keller Williams Realty - Universal Properties)
For more similar blog entries from Jeff Mateja, please visit his Portland, Maine blog at www.ILovePortlandMaine.com Whether you've ventured down to the East End of Commercial Street, looked from the Casco Bay Bridge up the harbor, or witnessed more of a buzz around town with crowded sidewalks and eating establishments, then you probably have noticed Cruise Ship Season is in full swing in Portland, Maine. The arrival of American Glory, a small American cruise ship in late July, marked the beginning of the season of cruise ship activity in Portland, which is scheduled to draw 48 vessels into Portland's harbor and just over 70,000 passengers to welcome to our wonderful city. On Saturday, September 5, Explorer Of The Seas, a Royal Caribbean cruise liner and the largest cruise ship (1,020 fe...
Comments 0
By Jeff Mateja, Southern Maine Real Estate
(Keller Williams Realty - Universal Properties)
For more similar blog entries from Jeff Mateja, please visit his Portland, Maine blog at www.ILovePortlandMaine.com Food lovers, set your sights, or better yet....your taste buds on the 2nd Annual Harvest On The Harbor in Portland, Maine, October 22-24. Deemed Maine's Premier Food and Wine Experience, the Harvest will feature three days of delightful foods and flavors for us all to enjoy, as the Greater Portland Convention & Visitors Bureau once again shares the great works of our area restaurants and chefs. After last years inaugural event, Harvest On The Harbor received recognition by Coastal Living Magazine as one of the Top Ten U.S. Seafood & Wine Festivals. Again, this years event will kick off at the Ocean Gateway Pier with the Grand Tasting on the Harbor Thursday evening at 5pm. ...
Comments 0
By Jeff Mateja, Southern Maine Real Estate
(Keller Williams Realty - Universal Properties)
More Blog entries posts from Jeff Mateja can be found at his Blog website www.ILovePortlandMaine.com Ladies...the event you have been waiting for is here! Dash of Diva: A Girls' Night Out will be the place to be on Thursday, October 29, from 4:30pm-9:30pm as the Holiday Inn By The Bay at 88 Spring Street, Portland, will host an event you will not want to miss. While you sample the products and services of more than 45 area vendors, there will be a variety of entertainment including; music, a fashion show, psychic readings from Spirit Messenger Vicki Monroe, Zumba and Belly Dancing Lessons, and Comedy by Maine's Funniest Mom Karen Morgan. Wine, beer, and vodka tastings will be available to help take the edge off after a long week, and a dance floor to unwind. For more information on Dash...
Comments 0
By John Herrigel, Portland, ME - Real Estate
(The Herrigel-Kennedy Group - Portside Real Estate)
The  residential real estate market in Portland Maine posted solid results for the 3 months ending August 2009. A total of 186 properties which includes condos and single family homes in Portland sold compared to 230 a year prior and thus representing a volume drop of about 20%.  Median home prices, although stabalizing month over month, were down about 8% compared with the year prior and clocked in at 203K compared with 222K.  The meidan days on market for a home was 46 days. Thanks for reading, John Herrigel Maine Buyers Broker
Comments 1
By Lew Corcoran, ASP®, Home Stager & Real Estate Photographer
(Scena Home Staging & Decora Photography)
Get a Free List of Websites of Government and Bank Foreclosure Listings in Portland, ME There are a number of websites that contain free listings of government and bank foreclosed homes in Portland, ME. These websites contain descriptions, color photos, and addresses of the foreclosed homes for sale in Portland, ME. And, most of these websites have government and bank foreclosure listings nationwide. There's no charge to search the foreclosure listings on any of these websites, and there's no 7-day free trial period either. Virtually all of these websites do not require any personal information to get access to the government and bank foreclosure listings. You can access these foreclosure listings anytime you want and as often as you want - free of charge!  Click here to get your own di...
Comments 0
By Lew Corcoran, ASP®, Home Stager & Real Estate Photographer
(Scena Home Staging & Decora Photography)
FHA, VA, and USDA Rural Development Loans in Portland, ME Are you looking for a home mortgage loan in the Portland, ME area? Then you've come to the right place! Northeast Community Mortgage is a mortgage broker serving Portland, ME, and many of the surrounding areas. When you decide to buy a home or refinance a mortgage in Portland, ME or in the surrounding area, your search for a home mortgage loan should start and end here.  With so many lenders to choose from in the greater Portland area, you should choose one you can trust to find the mortgage loan that will best meet your needs. As a mortgage broker, we help our clients obtain a loan from the lender who has the terms that best matches their needs. In terms of mortgage programs, we specialize in FHA, VA, and USDA Rural Development ...
Comments 0
By Lew Corcoran, ASP®, Home Stager & Real Estate Photographer
(Scena Home Staging & Decora Photography)
The Mortgage Interest Rate Lock Advisory for Portland ME for September 24, 2009 Here are some of the events affecting mortgage interest rates today in Portland, Maine. What the Mortgage Backed Securities Market is Doing Today: The price of the FNMA 30-Year 4.5% MBS coupon opened up 1/32 this morning to 100.69. The price of the FNMA 30-Year 4.5% MBS coupon closed up 1/32 yesterday at 100.66 (as shown by the white line). MBS is currently trading up 5/32 at 100.81 (as shown by the blue line). Remember, on mortgage backed securities (MBSs), as the price goes up, the yield comes down - and mortgage interest rates come down with it. I expect that mortgage interest rates will be 0.125% - 0.25% better in price this morning as compared to yesterday. Economic Reports, News, and Events Affecting M...
Comments 0
By David Roberts, (207) 741-2006
(The Maine Real Estate Network)
If you are a first time homebuyer or have not owned a home in 3 years and meet certain income requirements- you may qualify for the $8000 Tax Credit. However you must close on the sale of a home by November 30, 2009 This means you should be looking now and get a house under contract by the beginning of October - or sooner! From Under Contract to Closing can take 45-60 days and the week before the deadline is Thanksgiving week. Call me at 207-741-2006 for more info on the process or to talk to me about representing you in the Southern Maine areas of York, Cumberland and southern Oxford Counties. View some of my listings that would make a great first home at http://dkr.mreis.mlxchange.com Limington MLS#944865 Limington MLS#948769 Fryeburg MLS#945740 Scarborough MLS#943450
Comments 0
By John Herrigel, Portland, ME - Real Estate
(The Herrigel-Kennedy Group - Portside Real Estate)
Most of my posts center around the Maine real estate markets in Portland, but I thought I would give a brief overview of the Portland Maine rental market in this post.  Generally I find the best place to locate rentals is still on Craigs List, but there are a few companies such as Schneider Property Management, Port Property, CT Management and Dirigo that all offer rental finding services.  If you google them, they should be very easy to find.  The first choice one needs to make is do you want to be on the peninsula ie Portlands' East End or West End or out in a more suburban type locations such as Deering.  Generally a decent 2 bedroom unit will run around $1000 to $1200. A one bedroom can be found for as little as $600ish and if you are looking for a roomate type situation, expect to ...
Comments 0
By Jeff Mateja, Southern Maine Real Estate
(Keller Williams Realty - Universal Properties)
Portland, Maine, has a very active running community, which is why on any given day of the year you will see your fair share of novice to die hard runners (they will run in virtually any weather), joggers, and road racers all around Greater Portland. The community continues to grow thanks to Portland Trails adding additional running avenues, groups like the Maine Track Club and The Nor’Easter Run Club, organizing runs and races to encourage exercise and team training, and companies like Peak Performance and Maine Running Company available to service the needs of runners of all levels. As you can imagine the running community is very friendly, open to training with new runners, and building relationships as runners connect with each other and recognizable faces at the many road races in...
Comments 1
By Jeff Mateja, Southern Maine Real Estate
(Keller Williams Realty - Universal Properties)
Great News! Portland, Maine, has just been ranked 22nd in a report released by Business Week ranking the “Best Cities for Generation Y”. Portland ranks high on the list surrounded by many large cities like New York City, Boston, Washington DC, and Los Angeles, as well as big college cities like Madison, WI., Boulder, CO., Ann Arbor, MI., and New Haven, CT. The driving factor in the study seems to be the labor markets that these cities offer with stability being a reason for attracting Generation Y. While Portland does have a number of employment opportunities catering to the Generation Y crowd, the cities vicinity to Boston, the strong art and music scene, and relatively inexpensive living stand out as reasons for attracting them to Portland. Not to mention one can bike, boat, hike, an...
Comments 0
By John Herrigel, Portland, ME - Real Estate
(The Herrigel-Kennedy Group - Portside Real Estate)
The for the month ending June 30th, 2009, the Portland ME real estate market posted once again solid home sale figures.  A total of 64 homes sold in Portland compared with 89 a year prior.  A 27% volume drop. For the last 5 months, volume drops year over year have been anywhere from 4% to this months high of 27% but two other months saw 25% and 26% drops, thus the market seems fairly stable all things considered.  On a month over month basis, Portland Maine Home sales were up 20%.  Median prices for June 2009 clocked in at 205K, compared with 215K a year prior.  Thanks for reading about this Southern Maine real estate community.    
Comments 1
By John Herrigel, Portland, ME - Real Estate
(The Herrigel-Kennedy Group - Portside Real Estate)
 The Portland Maine real estate residential home markets had a very strong April with 43 transactions taking place at a median sold price of 220K and a median days on market of 41. This contrasts with 45 homes sold at a median price of 228K after sitting on the market for 37 days in April 2008. Inventories rose from 393 to 410 compared with the month prior.   For more information on this Southern Maine housing community please visit www.mymaineproperty.com, contact me directly at 207-650-5383 or via email at john@greentreemaine.com
Comments 0