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October 2010 Southern ME Housing Update


Blogging from an ipad on a bus from Boston….

MacBraynes Bus - 1961 Restored Bedford Coach 603CYS - used by Northern Constabulary Pipe BandHaving recently published my October housing newsletter on the real estate markets of York, Cumberland, Sagadahoc and Lincoln  counties it was no surprise to find that volume continues to remain off about 20% in the southern ME real estate markets compared with a year prior.

Statistically speaking prices were up in September, but these increases are more the result of a less first time home buyers in the marketplace  than of actual price increases.  Overall I feel the regional marketplace continues to see price stabilization.

Thus far through October buyer traffic has been stronger and with interest rates pushing 4%, if one qualify for a loan..DO IT!!!… these rates will not last!

Some questions going forward will be…How will the foreclosure fiasco play out…What will rates do?…Will title companies insure foreclosed properties? Will the Economy start generating jobs!!

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