Posted on July 14, 2007
Filed Under General Maine Real Estate, Maine investment real estate, Maine real estate news, Maine real estate development | Leave a Comment
The verdict is in once again, 48th out of 50 on best places to do business. Well at least it can’t get much worse. The only states outranking us were Louisiana and West Virgina. Coming as no big surprise since as 2 years prior we tallied a 46th ranking in the same pole. Broken down into 5 categories, the one area we did rank in the 25, a 16th in quality of life, so just because nobody wants to do move their business here, plenty still want to relocate and retire in Maine. We ranked 27th on labor (educational attainment, net migration and projected population growth), 30th in economic climate (current job, income and gross state product growth, unemployment and the presence of large employers), 42nd in growth prospects (projected job,…income and GSP growth, business openings and closings, and venture capital investment), 43rd on business costs (labor, energy and taxes) and we bottom out at 46th on regulatory environment (regulatory and tort climate, incentives, transportation and bond ratings)
Oh well, the Maine Lobster will have its day.. Read the complete story here
Posted on May 31, 2007
Filed Under General Maine Real Estate, Maine investment real estate, Portland Maine real estate, Maine real estate news | Leave a Comment
Inventory, Pricing, Demand
Statistics for April show the continued trends of rising inventories yet increasing prices, a quandary for traditional Supply/Demand economics. Prices were up in 3 out of the 4 counties followed with a 6.7% increase in Cumberland. The number of properties sold increased in Lincoln and York, remained flat in Sagadahoc but saw a strong decline in Cumberland partially attributed to the Portland younger buyer’s inability to secure loans due to increasingly stringent lending practices for higher risk financing. A general sense of “blah” seems to have clouded the markets in April, yet investor and consumer sentiment seem to point toward improving market conditions for late spring.
Read the entire Maine Newsletter here.
Posted on May 24, 2007
Filed Under General Maine Real Estate, Maine investment real estate, Maine real estate development | Leave a Comment
Trying to think what interests people and having just done a bike tour searching out multi units in and around the East End of Portland, the love of food coupled with the desire for lucrative investments in Maine real estate I thought perhaps a brief commentary on how I feel the local region surround the behemouth will fare over the coming years was a good subject for conversation. Driving down 295 one can’t help but notice the beacon of development Whole Foods represents. Coupled with the newer Planet fitness next door, the Back Cove a stones throw away and the push of the city to redevelop the bayside area, the real estate, although a little rough around the edges has great potential I believe. The brick warehouses on Kennebec streed I envision as loft condos, the single family and duplexes on streets such as Alder, Oxford, Chestnut, Hanover and Elm to name a few, shall be bought, renovated and brought back to their original splendor and the removal and infill of the local junk yards and city of Portland public works buildings will bring larger mixed used retail, commercial and residential proprety. The area is ripe for improvement, keep an eye on it.
Posted on May 16, 2007
Filed Under General Maine Real Estate, Maine investment real estate | Leave a Comment
As the residential real estate markets continue to undergo tumultous times, what has been happening in investment properties in Maine. In Portland the current inventory of multi units has grown to around 90-95 properties after hovering around 80 to 85 for the past many months. Here are some recent statistics on the current inventory levels and pricing of smaller mulit unit properties on the East and West end.
Current Inventory levels as of 5/15/07
East End
Total Avg List Price Per/Unit DOM
2 Unit 4 276 138 110
3 Unit 7 397 132 38
4 Unit 4 421 105 41
5 Plus 3 100
West End
Total Avg List Price Per/Unit DOM
2 Unit 8 349 175 110
3 Unit 5 334 111 38
4 Unit 4 414 104 41
5 Plus 7 83
