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Newsletter :: May 2016
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Slower Solutions

“Genius is nothing but a great aptitude for patience”                                             
                                                                                                          :: Georges-Louis Leclerc

Speed is highly prized in the business world. How fast can we grow? How fast do we get back to our customers? How quickly can we overcome obstacles? Progress is so often associated with speed that speed itself may produce the illusion of progress. 

"Fail fast, scale fast" goes the motto in Silicon Valley these days. But not everyone in the cradle of modern American innovation believed in speed above all. Steve Jobs had a slightly different perspective on solving problems with creative solutions: 

"When you first start off trying to solve a problem, the first solutions you come up with are very complex, and most people stop there. But if you keep going, and live with the problem and peel more layers of the onion off, you can often times arrive at some very elegant and simple solutions." 

Not every challenge should be met with speed. There are times when living with the problem gives you the experience and perspective you need to push past the obvious fixes which prevent you from attaining greater results. 

A mind can be a lazy thing, but with discipline, we can train ourselves to keep from reaching for the first answer to every question.

If you look at your life today, are you living with any quick-and-easy answers which might be improved with a little more effort?  Where might you enhance things with a slower solution? 
Welcome to May
Inside the 207 | May 2016
Seriously Local Real Estate

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April Sales Infographic
Real Estate Sales Update
April Results Continue Strong Trend


The infographic above, which we prepare each month, is designed to provide a quick snapshot of the Cumberland County real estate market.  Through April of this year, sales of single family homes continue strong, as unit sales and median prices are up while the days to sell a property (DOM) are down.  Similarly, condo sales and prices are also up over 2015.  
 
April represented the sixth consecutive month where sales exceeded results from the prior year.  In fact, sales are up 15 out of the last 16 months, with October being the only exception.  Sales are up in virtually all price segments, although homes priced below $300,000 are demonstrating the strongest growth year over year in each month of 2016.
 
The graph below includes sales results for Maine, Cumberland County and selected southern Maine communities.  In many ways the numbers speak for themselves – many towns are continuing to see strong sales over the first four months of 2016.  Many towns have established record sales, eclipsing records set last year.  While this is not true in all towns, as the figures indicate, there is a consistent trend.

As reported in previous newsletters, pricing fluctuations have a tendency to confuse what is happening in the market.  YTD decreases in several local towns are not necessarily indicative of market dynamics on the ground.  Buyers today are acutely aware of the shortage of homes available for sale yet are not prepared to offer inflated prices on properties.  In many situations, double negotiations are occurring – once when a property goes under contract and again when contingencies are being sorted out.  Buyers, in their own way, are determined to not overpay for any specific property – yet “market ready” priced homes are going under contract quickly.

Looking at prices in the broadest of terms, either on a county or statewide basis, provides the best indication of what prices are actually doing.

Inventory critically low

As it has been for the last several months, available inventory is low.  Homes in Cumberland County under contract in April represented 62% of all inventory, compared to 52% in March.  During the market crash this statistic was below 20%. The inventory of higher priced homes is more competitive and buyers have more choices, leading to a longer time on market and more price pressure.  For homes priced above $500,000, the pending ration is 28% - a considerable difference.



MaineHomeConnection.com updated each month with the latest sales statistics.  You can access this information by town at Local Communities, or try our Interactive Sales Chart. If you don't see what you are looking for, we can prepare a custom report for you. 
Featured Listings
8 Classical Lane
$620,000
Scarborough
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10 Falcon Way
$365,000
Freeport
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P342 Seaside Ave
$560,000
Saco
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Brunswick Landing
Custom Built Hangars - For Your Plane - Or Your Business!


Brunswick LandingIf you have not been to Brunswick Landing recently, we encourage you to do so.  There is a lot going on!  The former Naval Air Station is large – 3,200 acres – and features over 2 million sqft of commercial and industrial space.

In a recent tweet by the Midcoast Regional Redevelopment Authority (MRRA), “build your own" hangar lots are available at the Brusnwick Executive Airport, which is part of the overall complex.

Only $.30 per square foot!  

The airport has two 8,000 foot runways and is currently home to seven aviation and aerospace firms, including  One Aviation, Tempus Jets, MVP Aero, FlightLevel Avaiation, Maine Coast Flight and Hoyle Tanner & Associates……but there is ample room for expansion!

Hangers range in size from 3,600 sqft to 6,400 sqft and can be leased from $1,080 for the smallest to $1,920 for the largest.  The cost of building the hanger itself can be anywhere from $150,000 to $350,000 depending upon the size and materials used.
Sales of Vacation Homes Up in 2015
Maine Exceeds National Trends


Vacation HomesMaine is well known as a destination for second homes, whether it be on a lake, along the ocean or in the mountains.  National sales statistics of second homes for last year have just been released by the National Association of Realtors (NAR) indicating that while 2015 recorded the second highest level of sales in the last 10 years, vacation-home sales were lower (surprisingly) than in 2014. 

Actual numbers were 920,000 vacation-home sales nationally, compared with 1,130,000 in 2014.

Sales estimates are based on a national online survey of more than 2,000 adults in the United States who purchased residential properties last year.  Continue reading at: Vacation Homes
Horizontal History
What do Copernicus, Michelangelo & Henry VIII have in common?


Often, we look at history vertically. We study the series of rulers in a particular empire, or the evolution of philosophy or mathematics.

A recent Wait But Why post takes a look at history horizontally – not following the evolution of particular fields or topics, but charting when people existed, for how long and alongside which other people. 

This will take a while to read, but its worth it: Read Article
Drone Technology Comes to MHC

Test flights are underway and soon we will be incorporating beautiful drone shots with all of our property videos - using the DJI Inspire 1.

BTW.....Philip Bloom is one of the best photographers in the country!
Premium Real Estate Service
Thinking of Selling?
Imagine More

Consider if Apple or Nike sold homes - what would that look like?  Our goal and Maine Home Connection is to deliver a level of premium marketing services that set a new standard in our local market.

Engaging HD videos, outstanding HDR photography, uncompromising online exposure, community networking, business relationships - all combine to deliver a customized and integrated marketing effort.

If you are thinking about taking advantage of current conditions and putting your home on the market, let's discuss how we can help you.  Or visit ......... My Home's Value
At Maine Home Connection
We Believe ........

............. that clients deserve more - more expertise, more care and more focus. We believe that real estate should be about you.  We believe in giving back.  We believe marketing should be memorable and meaningful.  We believe in premium coffee and premium real estate service.  We believe we can change real estate in Maine for the better - and every agent in our company is committed to these ideals.

Sincerely,
Laura & Michael Sosnowski
Brokers | Owner
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Maine Home Connection
19 Commercial St | Portland ME 04101 | 207.517.3100
 
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