It is a strong buyers market....If sellers want to or need to sell in this market it is important to know their bottom number, because that is where the buyers are going to come in with...Many sellers need to realize that there are buyers out there that still owe much on these properties and the buyer should have his/her agent do their homework and see what kind of mortgage is on the property before giving an offer....It doesn't do a buyer justice to come in with an offer less than what is owed on the property ...after all you want to make sure that you have a clear Title before closing...
ZIP Code: 04090
Location Characteristics: Wells is centrally located between Ogunquit and Kennebunkport Maine. It's the perfect location for a family vacation and experiencing all that Southern coast of Maine travel has to offer, such as, beautiful beaches, shops, anitque stores, restaurants and much more.
The town was a farming community, producing hay and vegetables. Other industries included shipbuilding and fisheries. In the 19th century, with the arrival of the railroad, the town's beautiful beaches attracted tourists. Many inns and hotels were built along the seashore. Today, tourism remains important to the economy.
Wells celebrated its 350th anniversary in 2003. The year-long celebration included a New Year's Eve party with fireworks, parade, a visit by the traveling Russian circus, concerts, historical reenactments, and more. The town commissioned a member of the celebration committee, Kristi Borst, to design a town flag. Her design portrays historic aspects of the Town's settlement and agriculture as well as the 2003 Town Hall and focus on tourism represented by a train. Also included is the motto she penned for the project: "Proud of our Past, Ready for our Future.
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Prices have come down and interest rates are still doing well...Many buyers are hoping to come into the Maine market and get a lot for their money....but the truth is that many sellers have already marked prices as low as they possibly can....Sellers today are having to go to closing with some cash in order to clear title...
Buyers may want to understand the market that they are shopping in first of all.....for example Biddeford is a little different from Ogunquit....and the prices will dictate that....
It is nice to see buyers doing their homework over the internet before seeking to see a property, but keep in mind that many properties out there are in an up side down loan and sellers can decrease their prices just so far..
Overall many properties are closing at 15% under the accessed values....Of course each property and each situation is unique.
ZIP Code: 03909
Location Characteristics: York is a town in York County, Maine, United States at the southwest corner of the state. The population in the 2000 census was 12,854. Situated beside the Atlantic Ocean on the Gulf of Maine, York is a well-known summer resort. It is home to three 18-hole golf clubs, three sandy beaches, and Mount Agamenticus. It includes the villages of York Village, York Harbor, York Beach and Cape Neddick.
Like Bar Harbor and Newport, Rhode Island, York became a fashionable summer resort, and retains many distinctive examples of Gilded Age architecture, particularly in the Shingle Style. A cluster of historic buildings in the center of York Village are maintained as museums by the Old York Historical Society.
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I am an Ogunquit Real Estate Realtor® with years of experience in helping people find new homes in Ogunquit and in surrounding areas.
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