Maine Commercial Real Estate
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Could Eastport Be the Next Maine Tourist Hot Spot?
Eastport is the ultimate definition of “Downeast,” as the easternmost city in the country and the first to see the sunrise. A Down East magazine feature story “Could Cobscook Bay be the Next Mount Desert Island?” explored how the new Cobscook Shores network of fifteen waterfront parks and other developments around Eastport and Lubec set the stage for a robust future tourist and recreation industry. Businesses are already taking notice. A Bar Harbor staple, Diver Ed’s Dive-Theater, a marine education boat cruise, recently relocated to Eastport to capitalize on the thriving marine life in Cobscook Bay.
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Sotheby’s International Realty Brand Expands into Cyprus
MADISON, N.J. (October 8, 2019) – Sotheby’s International Realty Affiliates LLC today announced its expanding presence in Europe with the opening of Cyprus Sotheby’s International Realty. Cyprus Sotheby’s International Realty is owned and led by Andrey Manukovskiy, chairman, and Anastasia Yianni, chief executive officer, who have practiced real estate in Cyprus for 19 years. Cyprus Sotheby’s International Realty is located in Pafos and will serve the luxury residential markets of Limassol, Pafos, Nicosia, Larnaca and Agia Napa. “Cyprus continues to attract high-net-worth individuals from a variety of markets around the world due to its strategic location and high quality, high yield investment opportunities,” said Philip White, president and chief executive officer, Sotheby’s International Realty. “Andrey and…
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Summer eNews
Welcome to our summer e-Magazine Newsletter! Our loyal followers have grown to well over 40,000 subscribers in all 50 states and several countries around the world. It is humbling that you have chosen Legacy Properties Sotheby’s International Realty to be your eyes and ears for Maine Real Estate. Please click the image above or click here to view this issue.
- Blue Hill Maine Real Estate, Brunswick Maine Real Estate, Camden Maine Real Estate, Cape Elizabeth Real Estate, Damariscotta Real Estate, Kennebunk Maine Real Estate, Kittery Maine Real Estate, Maine Commercial Real Estate, Maine Real Estate, Midcoast Maine Real Estate, Mount Desert Island Real Estate, Portland Maine Real Estate, Wells Maine Real Estate, York Maine Real Estate
Homeownership as an Investment: The Role of Price Appreciation
We recently posted on the results from the latest Home Price Expectation Survey(HPES) showing where residential home prices are headed over the next five years. Today, we want to show you what the results of the report could mean to you. A good portion of every family’s wealth comes from the equity in the home they live in. As the value of their home (an asset) increases so does their equity. Let’s look at a possible case scenario based on the latest HPES. Here is a chart showing the survey’s projections on annual appreciation over the next five years: We then looked at the five-year impact this would have on…
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Are Mortgage Points Tax Deductible?
If you itemize your deductions on Schedule A of IRS Form 1040, you may be able to deduct all your points in the year you pay them. Some high-income taxpayers have their total itemized deductions limited, including points. You can read more about that in the instructions for Schedule A. Lucky for you, the IRS doesn’t care whether you or the homesellers paid the points. Either way, those points are your deduction, not the sellers’. Tip: Tax law treats home purchase mortgage points differently from refinance mortgage points. Refinance loan points get deducted over the life of your loan. So if you paid $1,000 in points for a 10-year refinance,…
- Blue Hill Maine Real Estate, Brunswick Maine Real Estate, Camden Maine Real Estate, Cape Elizabeth Real Estate, Damariscotta Real Estate, Kennebunk Maine Real Estate, Kittery Maine Real Estate, Maine Commercial Real Estate, Maine Real Estate, Midcoast Maine Real Estate, Mount Desert Island Real Estate, Portland Maine Real Estate, Real Estate News, Wells Maine Real Estate, York Maine Real Estate
Housing Market to “Spring Forward”
Just like our clocks this weekend in the majority of the country, the housing market will soon “spring forward”! Similar to tension in a spring, the lack of inventory available for sale in the market right now is what is holding back the market. Many potential sellers believe that waiting until Spring is in their best interest, and traditionally they would have been right. Buyer demand has seasonality to it, which usually falls off in the winter months, especially in areas of the country impacted by arctic temperatures and conditions. That hasn’t happened this year. Demand for housing has remained strong and is currently three times stronger than last year…
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13,000-Plus Listings Sell Every Day…Is Yours One of Them?
It’s very exciting when a homeowner entrusts you with the marketing and ultimate sale of their home. Yes, you got a new listing! Fast-forward a couple of weeks or months, and if the listing hasn’t sold, then you have some explaining to do. In a recent Existing-Home Sales Report from the National Association of REALTORS®, annual home sales are listed at 5.04 million homes. In order to put that number into perspective, let’s divide it by 365 days, and you’ll find that there are 13,699 homes sold every day in the United States on average (not accounting for seasonality). With all of these homes selling across the country daily, blaming…
- Blue Hill Maine Real Estate, Brunswick Maine Real Estate, Camden Maine Real Estate, Cape Elizabeth Real Estate, Damariscotta Real Estate, Economic News, Kennebunk Maine Real Estate, Kittery Maine Real Estate, Maine Commercial Real Estate, Maine Real Estate, Midcoast Maine Real Estate, Mount Desert Island Real Estate, Portland Maine Real Estate, Real Estate News, Wells Maine Real Estate, York Maine Real Estate
Protecting Your Nest Egg as You Age
People pondering their retirement years often conjure images of spending more time on a favorite pastime or traveling around the country or the world. Health concerns can intrude on those idyllic scenes, though, not only affecting enjoyment of life but also punching a heavy dent in retirement savings. “As we age, usually our medical or long-term care expenses increase, sometimes depleting our assets to a level of crisis,” says financial advisor Jake Lowrey, president of Lowrey Financial Group. “It’s important for retirees, and anyone planning for retirement, to become educated about what the pitfalls are and what they need to do to avoid losing their life savings.” Long-term care especially…
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A Stunning $441 Billion Paid in Rent
A recently released study revealed that a whopping $441 Billion was spent on rents in the U.S. in 2014. This represents an increase of over $20 Billion from the year before. As shown on the chart below, rents have increased consistently over the last 20+ years. However, the recent increases have been astounding. Why such a jump? Many Millennials have postponed the purchase of their first home while waiting for the economy to recover. This has increased demand and dramatically lowered vacancy rates. In a recent article on the MarketWatch, economics reporter Ruth Mantell explains: “Landlords have ramped up rents by the fastest pace in six years, with national vacancy…
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Home Values Compared to the Peak of 2006-2007
There is no doubt that the housing market has recovered from the meltdown that occurred just a few short years ago. However, in some states home values still have not returned to the prices we saw in 2006 and 2007. Here is a breakdown showing where current prices are in each state as compared to peak prices.