Bridgton, ME

A lot of our customers who are looking to purchase a nice piece of Maine waterfront property often live some distance from Maine and are thinking in terms of purchasing a second home, rather than a primary residence. When you live three or more hours away from the property you might be interested in buying it can pay off big time when you use your buyer's agent to your fullest advantage.

Any capable buyer's agent should be able to show you property, help negotiate an offer, and handle all the paperwork to closing. But if you live some distance from the area you're thinking of buying in, you need your agent to do much more. Having your agent be your eyes, ears, and "feet on the ground" before you come to look at property can save you time, money, and frustrating hours looking at inappropriate listings once you do get here to have a look.

I was out looking at properties the other day with our buyer's broker, Diane Monaco. She has a client in Connecticut who will be coming up to look at properties in a few weeks. The client has a pretty good idea what she wants - east shore waterfront, good access to the water, 3 bedroom, year round house, and under $550,000 - but wasn't that particular about the size of the lake because she isn't a boating/waterskiing person; only wants to take a swim now and then and have a good view of the lake from the house.

Diane has a pretty good knowledge of the current inventory and had seen several of the proeprties already that her client might be interested in, but there were several others that were either new to the market or that she hadn't seen yet, so off we went to preview these properties. We took a full day and saw nine in all. Diane called her client the next day, gave her a complete rundown of what she had seen and, together, they were able to eliminate seven of the nine.

Now this may seem like a pretty sensible thing to have your buyer's agent do, but you'd be surprised how many propsective buyers think they can winnow their field of possibilities just by looking at listings on a computer screen and locating them on a Google map, thereby avoiding any "unnecessary" contact with a buyer's agent until the last possible moment.

Now, I'm all for independent thinking, but this is folly. So many times potential buyers will walk through our doors, thinking they're all ready to go look at property, only to find out, after consulting with a buyer's agent about the listings they have chosen, that there can be a lot of important information that doesn't show up on a listing sheet or a Google map.

Is it good to do some homework before looking at property? Of course. But take full advantage of the market knowledge and previewing capabilities of a buyer's agent. Let them be your eyes, ears, and "feet on the ground" before you make the drive up here. Let them help you get the most out of the time you do spend here looking at property.

I wish Al Gore would pay us a visit to us up here in Maine. I just know that he would re-consider his position on global warming. But then again, what would he do with all the carbon credits he's been earning?

Although the calendar confirms that Spring has arrived, no one seems to have told Old Man Winter. It appears that he's been out of the loop and is refusing to loosen his icy grip. I remember an old timer telling me once that Maine, unlike elsewhere, has only two seasons, Winter and Fourth of July. I laughed then - I'm not laughing now.

Now, I know that to some this has been the best of winters. The snowmobilers are happy. Skiers are happy. Ice Fisherman too. But for those of us selling lakefront property - well, let's just say things could be better.

While the rest of the country is immersed in all the March Madness the NCAA Basketball Tournament can muster, we in Maine have a local diversion - Ice Out !!

While the productivity of the nation suffers as employees across our fair country huddle around water coolers comparing how they are doing with their selections in the tournament, we here in Maine are observing our own version of March (and April) Madness.

Over in Bridgton, folks have built a snowman, put him on a sled, and dragged him out on the ice on Moose Pond. Locals are placing $2 bets on what precise day in April Frosty the snowman will plunge through the ice. The person(s) who selects the correct day will receive half of the funds collected while the balance will go to the Bridgton Community Center. The Bridgton Community Center has been doing God's work this winter raising and dispensing fuel assistance funds to the area needy.

Folks from away are allowed to buy tickets for this good and worthy cause. Tickets are available locally at Hayes True Value, The Bridgton Chamber of Commerce and the Little Mountain Store. Not going to be in Maine for awhile? Place your $2 bets with my associate Jon Whitney ( jon@mrlakefront.net ) who is in tight with the folks at the Chamber. Happy Easter!

This time of year can be hard on a Maine waterfront real estate buyer. There's a blanket of snow covering that sandy beach, there are no loons laughing and calling, and summer seems a long way off. What's a buyer to do?

Well, this is no time to be singing the blues! This is Maine we're talking about. We do occaisionally have snowy winters, but Spring arrives in less than three weeks! In six weeks you'll hear peepers at night and smell a skunk or two. The ice will be going out of all lakes and ponds and they'll be sightings of robins and bluebirds. And, yes, most of the snow will be gone.

Time is of the essence! A waterfront property buyer has things to do. The next four weeks or so offer a great opportunity for potential lakefront property buyers to gear up for the season ahead. Because so much information is available on the internet there's no reason not to be totally prepared before ever setting foot on a waterfront property. So class, here are your instructions: Do your homework!

Start by reseaching an area you are interested in. Go to a towns's website and to the website of the area's Chamber of Commerce - Bridgton, for instance, and the Lakes Region Area Chamber of Commerce. Find out about tax rates, shoreland zoning rules, area development, local hospital services, and area amenities including shopping, restaurants, movie theaters, and outdoor recreation opportunities.

Now, what about focussing in on a particular lake or pond you might be interested in? You can use our LakeSmart feature and get linked into information on hundreds of Maine lakes and ponds. Also visit the website of a local environmental group, like the Lakes Environmental Association, to learn more about local ecosystems.

If you think you might be borrowing money to purchase a waterfront property then this would be a great time to sit down with your banker or mortgage broker to really get a clear view of your financing options. You'd be surprised how many buyers start looking at property without knowing what their purchasing power is.

Finally, if you get these assignments done, why not take an early season ride to the area of your choice in Maine. They'll be no traffic to speak of, places to stay are plentiful, and coming here early will provide you an unhurried look at a region, a town, a lake and, yes, maybe even a property or two - or three!

And if you can't get away, you can always use our Lakefront Locator where you can find, online, every current lakefront and lake access listing for the entire state. Happy viewing!

One of the priorities we established when we started this blog recentlywas to share great information with people who own or want to own Maine waterfront property. We think we have made a good start down that road, but know that the news and information that is available out there and the need of interested parties to stay informed is an ongoing pursuit.

With that thought in mind, I went through my mail today and saw the latest newsletter from the local Lakes Environmental Association. Headquartered in Bridgton, the LEA has been a consistent watchdog and protector of the lakes and ponds in the area for over 30 years. Their ongoing programs to educate and involve the local community in issues surrounding the conservation and cleanliness of area lakes and ponds has been impressive. They also strive to bring a general awareness of the natural world around us to all who care to read and listen - and participate!

Anyone who has an interest in Maine waterfront real estate should take a look at the LEA newsletter. This particular issue talks about the upcoming milfoil summit on March 7th, the effects of high levels of phosphorus and nitrogen on amphibians, and new educational programs starting up for kids 10 - 15 years of age. (Environmental awareness needs to start at an early age - don't you think?!) There's also a table listing 38 area lakes and ponds that are monitored by the LEA for things like water clarity, phosphorus levels, ph levels, and risk levels.

Check out the latest LEA Newsletter. Maybe you'll even become a member!

You might be surprised to learn that most lakefront property here in Maine is purchased by folks "from away". From away usually refers to folks from Massachusetts, Connecticut or some other state here in the Northeast. The attitude these folks have about associations has always been peculiar to me.

A lakefront buyer will spend a whole lotta time finding just the right lakefront property and then will refuse to tender an offer until they have a chance to read the association bylaws and understand what the annual fees cover. It amuses me when a buyer is ready to buy a half million dollar second home but hesitates because he wants to understand what the annual dues of $150 per year cover.

My only thought is that perhaps buyers from away have had to deal with terribly restrictive neighborhood associations back home and are justifiably concerned. Now, I'm all for due diligence. I'm not advocating carelessness, but remember, we're in rural Maine. Things are different up here.

Three Types of Neighborhood Associations -

Road Associations - 90% of associations are for one purpose - road maintenace. Many camp roads are private and not plowed or maintained by the town. Association dues are for snowplowing in winter and grading in the spring. That's it!

Homeowner Associations - Some neighborhoods have a lot more to maintain than just roads. For example, the Knights Hill neighborhood in Bridgton on Moose Pond has an association beach area, clubhouse, canoe rack, marina, tennis courts, playgrounds and even a pool. Annual fees are over $700 per year.

Lake Associations - Often times a lakefront homeowner will be invited to join a lake association. Mostly voluntary, these organizations can have clout. For instance the Lake Associations for the Range Ponds in Poland successfully banned jetski use on the ponds. They wanted a quiet lake and now have one. Most lake associations are formed to maintain or improve water quality or fight an invasive species like milfoil.

Some Advice... I always advise our lakefront buyers to make an offer contingent upon the receipt and satisfactory review of association by laws within 10 days of the effective date of an agreement. If found unsatisfactory, agreement can be declared null and void and earnest money returned.

Conclusion... In all my years in real estate I've never had one deal unravel because of association by laws. So, here in Maine, if you want to paint your house purple, GO FOR IT!!

Submitted by my colleague, Tom Ferent, MrLakefront

By the way, we have a lot of information about buying Maine lakefront property on our website at www.mrlakefront.net . Hundreds of people go there every day to search lakefront properties and get information.