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Newsletter: October 2015
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Incremental Steps to Greatness

“True greatness consists in being great in little things".
                                                                                               -  Charles Simmons 

True greatness is not the result of a single, monumental act. It is earned through continuously applied effort over time. This is a good news/bad news situation, depending on your perspective. 

The Bad News:  If you've been taking refuge in the fantasy of "one day" or "starting tomorrow," you have nowhere to hide. No one act will make you. You cannot plan one day to be great. You must start right here, right now, with the tools at hand and the skills you have available. If you are to be remarkable, you must do things which cause people to remark on your gifts - whether it's your ingenuity, creativity, even-headedness, or generosity. It also means you must ask yourself with every action you take: Does this live up to my standard for greatness? Am I pursuing the best version of myself I know how to be? 

The Good News:  Greatness over time makes greatness more achievable. If, in everything you do, you merely ask the question, "How could I do this a bit better?" you'll find that improving your life and the lives of others is no longer a daunting task. Even a 1% improvement over time will result in tangible, substantial gains. If you're able to win by inches, it's remarkable how the miles add up.  

Be great - and enjoy this month's newsletter
September Infograph

Home Sales Remain Strong

October Year-To-Date Results 

Single family home sales in Maine continue to outpace 2015.  YTD sales through September are 11.2% ahead of last year, while price is up 5.7%.  The median selling price of a home in Maine is $184,000 through the first three quarters of 2016.

Unit sales in Cumberland County are even stronger – up 16.8%, while the increase in pricing is more tempered, at 1.6%. The median price of $249,000 is considerably higher than the state median, reflecting the overall strength of the southern Maine market, which includes some of the highest priced communities in the state.

The chart below includes sales results for selected local towns. Falmouth continues to lead the way with the highest median price, while Scarborough has the highest appreciation in selling prices.  
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MaineHomeConnection.com is 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. 

Creating Engaging Property Videos

Competing Nationally
 

As part of our marketing program for the homes we list we prepare detailed HD videos, in which Laura and Julia provide a thorough and engaging tour of the home.  No one in our local market is doing this, and it establishes a point of differentiation for each client's home we represent.

We also submit these videos to national competitions, where nearly all of the videos are produced by professional photographers and videographers.  Needless to say, the competition is stiff. Based on the feedback we get we are continuously improving our technique.

The video below was our best result to date - a fourth place finish.  If you have a few minutes please take a look. 
46 Thornhurst Rd | Falmouth Maine Real Estate

$100 Million Bayside Project Moves Forward

Groundbreaking Expected By Year End


After five years of political maneuvering, legal challenges and project redesigns, The Federated Company will begin construction in the Bayside area by year end.  The development will feature four separate buildings adding 90,000 sqft of commercial space and 440 market rate apartments. Construction is expected to take two years.

The project was still in jeopardy as little as four months ago when the city advised the developer that the plan would require city council approval again because the contact for the sale of the city-owned land where the development was to be built had expired and Federated inquired about changes in the design – to include hotels while reducing the amount of apartments.  Federated then threatened to sue the city as things ground to a halt.  During the intervening period cooler heads prevailed and a settlement was reached.  The entire project is valued at $100 million.

As reported in the Press Herald, Federated, will pay the city $2.4 million for the 3.5-acre parcel located at Chestnut and Somerset streets, and Portland will invest $9 million to construct an 800-space parking garage and roughly $2.7 million to raise the grade level of Somerset Street.

BTW....the vole on Referendum 2 this November is also important in regard to future developments in the city. 
Bayside Development
Redefining the Future
 
By now, everyone must know about the changes going on at Playboy.  The publication that essentially created and defined a category for 62 years is shedding its once defining feature. They aren’t shutting down. They are making a strategic decision to shift their focus to match the world in which they now operate.

As the company transitions to their new reality, it is interesting to look back at some of the truly historic interviews that have appeared in their magazine.  I guess it is true that young men did indeed read Playboy….. “for the articles”.

Longform, which is sponsored by the University of Pittsburgh, has put together 45 of was it considers the Best Playboy Articles, which you might find interesting.

For all of our Apple fan boys (and there are a lot of you), we are highlighting this interview with Steve Jobs from 1985 - to coincide with the release of the movie on his life opening October 23rd.
 
Inventory vs Sales

Inventory levels have decreased appreciably over the last several years.  As an indicator of overall market strength, we review this statistic (known as absorption rate) each month.  As of September 2015, the months of inventory (the time it takes to sell all existing homes on the market given current sales rates) was 7 and has been below 10 since February.  In February 2013 this measure was as high as 16 – reflecting more than a year.

We are also often asked about selling homes in the winter months.  Reviewing results for 2015, the breakdown of single family home sales were: 1st QTR: 15.6%; 2nd QTR: 26.9%; 3rd QTR: 31.8% and 4th QTR: 25.7%. 
Absorption Rate
Michelin Star
The Value of a Michelin Star

While Portland is well regarded as a Foodie destination, we do not have any Michelin Star restaurants.  But would the owners want one?  Get the inside skinny on what it takes to get one….and the trauma that ensues if you loose one.

View the Vanity Fair article (a 6 minute read)
 
Premium Coffee and Premium Service
Imagine More

Consider if Apple or Nike sold homes - what would that look like?  Our goal at 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

About Maine Home Connection

We Believe.......

.....at Maine Home Connection 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 | Owners

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Maine Home Connection
19 Commercial St | Portland ME 04101 | 207.517.3100
 
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