FSBO- HORSE PROPERTY, home & lots - CAMDEN Maine
NICE - 7miles to Downtown CAMDEN ,1 mile to OCEAN
| Start Price |
USD 379,000.00 |
| Current Price |
USD 379,000.00 |
| Time Left |
- |
| Bid Count |
2 |
| Buy It Now Price |
- |
| Reserve Price |
- |
| Start Time |
Sunday, September 07, 2008 |
| End Time |
Saturday, December 06, 2008 |
| Location |
Lincolnville, ME |
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See more about 'FSBO- HORSE PROPERTY, home & lots - CAMDEN Maine '
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Description
FOR SALE BY OWNER: Paul Crowley, hometown small land developer and contractor with 30 years experience in Mid-Coast Maine real estate. THE LEAST EXPENSIVE HORSE PROPERTY in Camden-Rockport-Lincolnville !!!!CAMDEN - ROCKPORT - LINCOLNVILLE in Mid-Coast Maine on the OCEAN.FIRST, a few words about Camden - Rockport - Lincolnville.The Camden area is clean, very beautiful, uncrowded, friendly, crime-free, well-educated, and 99.9% English speaking. This is an excellent area for boating, skiing, golfing, and outdoor activities. Camden features an excellent harbor and the Snow Bowl Ski Area, the only ski area on the East Coast with an ocean view. The Camden area is one of the most desirable places to live in the U.S. But compared to other desirable coastal communities in the U.S., real estate here is still "relatively inexpensive."PROPERTY FOR SALE BY THIS OWNER: 23 Tanglewood Road - High quality passive solar contemporary home and HORSE farm on 2.98 acres next to the Camp Tanglewood section of Camden Hills State Park. REDUCED to $379,000Lot 10 - Fully approved 1 acre house lot in Tanglewood Forest Subdivision on Crowley Road. Private, but not remote, south facing home site sits in a stand of 30 year old pine trees on newly paved road with mountain views next to Camden Hills State Park. Ready to build. $29,999 FIRMLot at 53 True Road - 2 acre private improved house lot in an area of nice homes on a paved road next to the Camp Tanglewood section of Camden Hills State Park. The best house site has been cleared, stumped, filled, graded, and partially landscaped. Ready to Build. REDUCED to $39,999 FIRM. (Up to 20 acres available at additional cost.)OTHER LAND available from 1 acre to 85 acres --- some with ocean views -- priced accordingly.SORRY BROKERS, at these low prices, I cannot pay any commissions.23 TANGLEWOOD ROAD --- Private residence with "in-law" or income apartment, set up as a small HORSE "FARM"--- Just 1 mile from the OCEAN, and only 7 miles from DOWNTOWN CAMDEN --- Traditional New England "Salt Box" style home facing due south with tremendous solar gain and a contemporary open interior on 2.98 landscaped acres. This house was built in 1986 by a close friend (a good builder) as his own custom home. He lived here for 14 years. This has been our personal residence for 7 years. Now, we are ready to move on to build our dream home on a 65 acre ocean view hillside nearby.The $399,000 price includes: fresh paint inside and out, new appliances, and everything in tip-top turnkey condition.The 2007 real estate taxes are $2,718.FOR MORE PHOTOS CLICK THIS LINK: http://s252.photobucket.com/albums/hh15/crowleytrader/23%20Tanglewood%20Road/?albumview=link This coastal Maine mini-farm at 23 Tanglewood Road is in a private location adjacent to the Camp Tanglewood section of Camden Hills State Park (4500 acres with miles of walking and riding trails). The property has nearly 3 acres of south facing lot with mountain views, farm pond, fenced pasture, fenced paddock, large lawn, gardens, large pines, mature landscaping and paved driveway. First Floor: breezeway, "mud room" (for boots and jackets --- in Alaska they call them "arctic entries"), kitchen (newer stainless steel "french door refrigerator with bottom freezer, and newer stainless steel 40" range "dual fuel" (2 - electric ovens and gas top), tile floor and cherry cabinets), also, we are about to install granite counter tops; dining room with French doors opening onto the wrap around deck (cherry floor), cathedral ceiling living room (cherry floor),(all with many south facing skylights), brick hearth, and Franklin type fireplace stove with glass doors, plus 1 bedroom with its own door opening to the wrap around deck, and tiled full bath (between the bedroom and kitchen). Second Floor: Master suite, includes bedroom, walk in closet, and bathroom with his & hers sinks, and bidet, 2nd bedroom (presently used as a study), and loft/balcony/reading nook/jungle of sun-loving plants overlooking living room. Full basement with inside and outside entrances: oil fired hot water boiler, gas fired forced hot air furnace, Energy efficient on demand gas hot water heater, washer/dryer, work bench and shelving.Apartment: Nice cozy 1 bedroom income or in-law apartment with full bath on the 2nd floor above the attached garage. Attached 2 Car Garage: has been converted to: office, reception area, and dog grooming facility with sink and washer/dryer (could be converted back to a 2 car garage, or finished as two guest rooms (with a private baths or a shared bath). The lot: has 380 feet of road frontage and is 341 feet deep, totaling 2.98 acres with farm pond, fenced paddock, fenced pasture, large pine, and mature landscaping. The house is set well back from the quiet, dead end town road.ARE YOU LOOKING for a Family Compound? The 2.98 acre lot is big enough to build another "Guest House." Detached 26'x 30' 2 Car Garage / Workshop: Lots of room for cars, toys, and tools with large upstairs loft and a chimney for heating.Small Horse Barn: with two stalls, tack room, utility room, and hay loft. The house is just over 1 mile from the Village of Lincolnville Beach with two public sandy beaches on the ocean, a public dock, post office, store, and four good restaurants. Public beaches at Megunticook Lake and Norton's Pond are about 6 miles away. Lincolnville Beach is a peaceful bedroom community to Camden that offers most of the benefits of living in Camden, and the Camden social scene, just 7 miles away, but at lower purchase cost, and about half as much taxes. LOT 10 - TANGLEWOOD FOREST SUBDIVISION "Another Quality Project by Paul Crowley." LAST LOT in TANGLEWOOD FOREST SUBDIVISION. PRICE DRASTICALLY REDUCED FROM $39,500. Come take a look this weekend! ONLY 7 miles from DOWNTOWN CAMDEN. ONLY 1 mile to the ocean at Lincolnville Beach.Lot 10 --- 1 acre --- $29,999 Best views of Ducktrap Mountain to the north, Frohock Mountain to the east, and some view of Bald Rock Mountain to the south. Good solar gain. Partially wooded with 40' pine. Ready to build.We are selling the remaining seven --- NOW ONLY ONE (1) house lots in Tanglewood Forest Subdivision on Crowley Road in the Town of Lincolnville, Maine --- just 1 mile from the ocean at Lincolnville Beach and 7 miles from Downtown Camden. The lots offer ample privacy, but are not isolated or primitive. Tanglewood Forest is a fully approved subdivision; all lots are: one (1) to two (2) acres in size; surveyed; soil tested; have full 3 bedroom septic system designs; and are partially cleared and ready for building. Most lots have significant site improvements such as driveways, and house site clearing, stumping, filling and grading. The lots offer excellent south facing house sites with good solar gain and mountain views of the Camden Hills. Electricity, telephone, Cable TV, and DSL are available on Crowley Road. The standard Central Maine Power Company connection charge for electricity is only $17. Wooded buffers remain to preserve privacy. Value enhancing protective covenants apply. The 2007 municipal tax assessments are $40,000 to $45,000 and the annual taxes are $350 . The lots will be conveyed by warranty deed and title insurance is available. EXCELLENT area for YACHTING, SKIING, EQUESTRIANS, and an active outdoor life style.Thus far, 16 of the 17 lots in Tanglewood Forest Subdivision have been sold. The last six lot sales have ranged in price from $24,000 to $39,000. YES, we have been giving them away. So far, six (6) new homes have been built in Tanglewood Forest which range in value from $219,000 to $356,000. Tanglewood Forest Subdivision is located on Crowley Road adjacent to the Camp Tanglewood section of Camden Hill State Park (4500 acres with miles of hiking, horse riding, and snowmobile trails (No ATVs) through the Camden Hills overlooking the ocean, several lakes, and surrounding mountains)The lots are just over 1 mile from the Village of Lincolnville Beach with two sandy public beaches on the ocean, a public dock, post office, store, and three good restaurants. Lincolnville (Winter pop. 2200) is a peaceful bedroom community that offers most of the benefits of living in Camden, and the Camden social scene, but at much lower cost. Outdoors Magazine recently rated Lincolnville as one of "The 20 Best Places to Live and Play."FREQUENTLY ASKED QUESTIONS:1. Do you offer owner financing? Unfortunately, we are not able to offer owner financing, especially at these low low prices. The lots are priced for prompt cash sale.2. What is the best way to finance a lot? There are many options, such as: 1) Borrow from a bank, or use a home equity loan, 2) Borrow from your 401k or pension plan, 3) Have your self-directed IRA buy a lot for you, 4) Borrow on margin from your stockbroker, and 5) Borrow against your life insurance. Some types of pension plans allow borrowing without adverse tax consequences, and some don't; contact your plan administrator and tax adviser.3. Is local bank financing available for these lots? Yes. Local banks are anxious to lend money on lots for qualified borrowers. Typically, they are looking for 30% down and rates are currently around 6%.4. What does it cost for a building permit and how long does it take to get one? Typically, building permits only cost a few hundred dollars and are issued within a couple of days. The actual cost is based upon the estimated completed value of the house.5. How much are the taxes? About $350 per year.6. Are there any association fees? Yes. Each house pays $300 per year for snowplowing and road care, but vacant lots are not required to pay anything.7. Do the lots have approved septic systems? No. You must hire a contractor to build the septic system for you. HIRE US --- WE BUILD SEPTIC SYSTEMS. Each lot has passed a soil test. A full septic system design for each lot on the Maine Department of Human Services, Division of Health Engineering Form HHE 200 has been done by a State of Maine Licensed Site Evaluator, and the septic system location has been staked out on the lot. The municipal Plumbing Inspector will promptly issue an "External Plumbing Permit" upon presentation of the Form HHE 200 and payment of a $100 fee. Your contractor can then build the system according to the specified design on the HHE 200. It will be inspected three (3) times during construction by the local Plumbing Inspector. The existing septic designs call for three (3) bedroom (270 gallon per day) Geo-Flow systems. Alternatively, you could a have a new design done for more or less capacity, or for a different type of system.8. What does a typical septic system cost? Approximately $10,000.9. What about water and wells? There is an ample supply of good quality water in the neighborhood. Wells in the neighborhood range from about 65 feet to 450 feet, with most wells in the 100 foot to 200 foot range. The typical cost to drill a well is about $2,500. 10. How far is it to nearby lakes? Colman Pond - 1/2 mile; Norton Pond (the Lincolnville Boat Club operates a sailing school for kids and adults on Norton Pond) & Lake Megunticook - 6 miles; Pitcher Pond & Knight's Pond - 6 miles; Lake St. George 20 miles; Swan Lake 15 miles.TANGLEWOOD FOREST --- ALL SALES from INCEPTION --- 2002 to 2008: Lot A (on Slab City Road) sold to Simpkins (builder/owner) on April 10, 2002 for $12,500 Lot D (on Slab City Road) sold to Simpkins (builder/owner) on April 10, 2002 for $12,500 Lot B (on Slab City Road) sold to Silverton (buyer from NYC) on July 15, 2002 for $17,000 Lot E( right corner of Crowley & Slab City) sold to Ratoff (investor/builder from Massachusetts) on January 10, 2003 for $22,000 Lot 1 sold to Briggs (builder/owner) on January 13, 2003 for $22,000 Lot C (left corner of Crowley & Slab City) sold to Woodbury (builder) on February 20, 2004 for $25,000 Lot 2 sold to Simpkins (builder/owner) on May 22, 2004 for $29,900 (built and lives in new house) --- previously for sale at $275,000. Lot 7 sold to Lammi (builder) on February 1, 2005 for $31,500 Lots 9 & 11 sold to Hennemouth (future retiree) on March 5, 2006 for $68,000. (Plans to build this year). Lot 5 sold to Johnson (builder/owner) on June 10, 2007 for $32,000 (built new house-- appraised value in October 2007 was $250,000).Lot 1 sold to Dr. Otto (future retiree) from Chicago on December 19, 2007 for only $24,400.Lot 6 sold to Dr. Eudy (future retiree) from Mississippi on January 18, 2008 for $39,000.Lot 3 sold to Knopp (investor) from Illinois on January 28, 2008 for $24,000.Lot 4 sold to Dr. Eudy on February 7, 2008 for $35,500.Lot 12 sold to Lane Construction for $26,000 on March 14, 2008.Lot 8 sold to Ciraldo (local buyer) for $32,500 on June 16, 2008 Resales to Date: Lot E resold by Ratoff to Wheeler (with new house) on April 16, 2004 for $218,000. Lots A & D resold by Simpkins to Panayotoff (with 2 year old house) on May 10, 2004 for $225,000. Lot 1 resold by Briggs to Crowley on October 15, 2004 for $22,000 Lot C resold by Woodbury to Harvey (distress sale - unfinished house) on December 31, 2005 for $185,000. Lot B resold by Silverton to Harvey (abutting Harvey's house) for $20,000 on April 18, 2006. (Silverton bought an existing house on True Road).Lot 1 resold by Crowley to Dr. Otto for $24,400 on December 19, 2007. Other Comparable Sales in the Neighborhood: 144 Tanglewood Road sold by Crowley to Freeman (1st time homeowner) on May 4, 2005 for $22,000. 7 Tanglewood Road sold by Lamont to Crowley on December15, 2006 for $50,000 (3 acres). Camden Hills State Park: http://www.maine.gov/cgi-bin/doc/parks/find_one_name.pl?park_id=14Camp Tanglewood: http://www.umaine.edu/umext/Tanglewood4H/Lincolnville Central School (with links to Camden Hills Regional High School & other local schools): http://www.lcs.lincolnville.k12.me.us/Distances: Downtown Camden 7; Snow Bowl Ski Area 10; Pen Bay Medical Center 11; Waldo County General Hospital 11; Rockport 9; Rockland 14; Belfast 11; Bangor 49; Augusta 42; Bar Harbor 60; Boothbay 52; Deer Isle 50; Islesboro 4; Portland 89; Boston 189. A variety of airlines fly into Bangor International, and Portland Jetport (including Jet Blue), Southwest flies into Manchester, NH. The Concord / Trailways bus from Boston, Bangor, or Portland stops at Lincolnville Beach. The Mid-Coast Limo picks passengers up at Lincolnville, Camden, Bangor and Portland.For general information, Search on Google for: "Camden-Rockport-Lincolnville Chamber of Commerce" - "Lincolnville Business Group" - "Camden Downtown Business Group" - "Town of Camden" - Town of Lincolnville" - "Town of Rockport" - "First National Lincoln Corp" - "Camden National Bank" On Google Maps search "23 Tanglewood Road Lincolnville Maine," then click the "SATELLITE" button in the upper right corner of the map for an aerial photo overlay.SCHOOLS: Lincolnville has an excellent new $10 million K-8 school ($8 million paid by the state with $2 million in privately funded enhancements) with a 15:1 student/teacher ratio 6 miles from the house. Camden and Lincolnville are in the process of consolidating their K-8 school systems. Lincolnville is one of the five towns that owns and operates the magnificent Camden Hills Regional High School which is one of the best schools in Maine, and only 10 miles from the house. The school buses stop at the end of Tanglewood 600 feet from the house. There are also several private school alternatives in the area.NEXT, A FEW POINTS ABOUT THE REAL ESTATE MARKET.ALL REAL ESTATE IS LOCAL. Forget what the talking heads are saying on TV about the real estate bubble bursting --- that's in California, Nevada, Arizona, Florida, and the "Rust-Belt states." That's not what's happening every where, some markets are still booming, and other markets, like Camden, have fallen a bit, were basically flat for awhile, but are starting to rise again.National and regional markets are interconnected, particularly with respect to financing, but each local market is unique with its own demographics, employment, retirement homes, summer homes, and so on. You must thoughtfully evaluate every local market on its own merits. Some markets are falling, some markets are rising, and others are flat. Set aside your preconceived notions and do not attempt to apply generalizations about the "national" real estate market to the local Camden market. Gather specific information about the local market, and think for yourself. The most important predictor of where a local real estate market is headed --- is where it has been. Markets that are booming are probably ready for a fall. Markets that have fallen are ready to rise again. Camden has had a weak real estate market for several years; there is no local real estate "bubble." The Camden area boomed from about 1993 when MBNA came to town; until about 2001, then it started to level off. In 2003, MBNA (the second largest employer in Maine) began closing its Camden and Rockland operations centers and withdrawing about 3000 high paying jobs from the local market. MBNA's layoffs and relocation program dumped hundreds of houses on the market at bargain prices. The market finally absorbed those houses and the MBNA real estate recession pretty much ended around the summer of 2006 --- just as the national real estate market turned sharply downward. In general, Camden area real estate asking prices have been fairly flat at about 2006 levels. However, sales volume has definitely dropped and the actual sales prices are a bit lower. Many houses are "for sale," but most people do not need to sell, are not dropping their prices, and they are not selling. The people who need to sell are dropping their prices and/or accepting lower offers, and their properties are selling, but at a modest pace. Again, in the Camden area, there is no bubble, overall prices are not falling, and the market is ready to rise again. The second most important factor in most real estate markets is job growth. While jobs are important in the Camden market, job growth is less important than in most other places. About one-third of the homes in the area are seasonal homes. Almost one-half the local population lives on what economists call "transfer payments," (i.e., retirees on pensions and social security, trust funds, and income from invested personal wealth). We have a lot of retirees, and a lot of people who were "born retired." The Camden area also has a booming "creative economy," (i.e., telecommuters, consultants, computer wizards, writers, artists, and so on) --- who are not dependent on the local economy. These folks produce expensive products or services for clients in New York and L.A. From 2003 to about 2006, the Camden area lost a lot of good jobs. That has now reversed. Bank of America's is running the huge former MBNA operations center in Belfast, and hiring new employees. Recently, three new employers --- Erikson Retirement Centers, Boston Financial, and Athenahealth --- have reopened former MBNA facilities and has begun hiring hundreds of new employees.The biggest aspect of the "domino effect" of the national real estate market on our local market is that most of our prospective buyers come from out-of-state and they cannot buy until they sell their existing properties elsewhere. Many places have terrible real estate markets where homes are very difficult to sell. Financing is readily available here; banks are anxious to lend to creditworthy applicants. However, financing is difficult to obtain in many markets, especially those with high priced homes, and/or many foeclosures. For example: my recent sale of our spec house at 52 True Road to local buyers, who first had to This area has never been over-built. The large national home builders, such as Toll Brothers, Lennar, Pulte, KB Home, Centex, Hovanian, D.R. Horton, and others, who have done so much overbuilding nationally, have never built a single house in Maine. The Maine new home market consists entirely of small local builder's, primarily, financed by local banks. Camden, Rockport, Lincolnville, and most nearby communities have never built more than 30 new homes per year. The normal pace is about 20 new homes per year. Over the past several years we have only averaged about 10 new homes per year. In short, new building has been well below typical levels for several years. Foreclosures are rare here. Unlike many parts of the U.S., the Camden - Rockport - Lincolnville has had very very few foreclosures; certainly, no more than 10 per year.The Camden area remains very beautiful, clean, friendly, uncrowded, crime-free, 99.9% English speaking, and one of the most desirable places to live in the United States.EACH PROPERTY IS UNIQUE. The price and features of each property are different ---- and must be analyzed on a case by case basis to determine whether it suits your needs, and is fairly priced. Many properties are over priced, many are priced right, and some are priced well below market. You need to come to Maine and look at property. Until you do that, you can't know whether it suitable for you, and you have no credible basis upon which to form an opinion about whether its a good buy. Do you want hard facts about the Maine real estate market, Knox and Waldo County markets, the Camden - Rockport - Lincolnville real estate market, and the neighborhood sales?FACTS: SALES in the immediate neighborhood (smaller houses): 11 True Road sold on March 31,2007 for $247,900 ( ex-MBNA seller -1.1 acres - 2002 sq. ft. w/ wet basement - 2007 tax assessment $256,500). 16 True Road sold on July 7, 2006 for $215,000 to family from Long Island (sister of owner at 41 True Road) (ex-MBNA seller - 1.9 acres -1680 sq. ft. - 2007 tax assessment $227,000) 24 True Road sold on September 23, 2003 for $171,000 to Chief Engineer of Islesboro Ferry (quick distress sale by local seller -1.7 acres - 1680 sq. ft. - totally unfinished 2nd floor - 2007 tax assessment $201,900) 34 True Road sold on May 14, 2004 for $225,000 to local family (ex-MBNA seller - 1.79 acres - 1868 sq.ft. - 2007 tax assessment $224,100). 42 True Road sold on May 13, 2005 to local family for $225,000, and sold previously about 2 years before for $179,900 (MBNA transfer both sales) - 1.41 acres - 1440 sq. ft. - 2007 tax assessment $224,000) 41 True Road was sold on April 4, 2004 by MBNA's relocation company in one day for $196,000 to a couple from NYC, reportedly it appraised for $240,000 at that time - 1.7 acres -1780 sq.ft - 2007 tax assessment $256,500) . 9 Crowley Road sold on May 16, 2004 for $218,000 to a retired lawyer from California (new house - 1.02 acres - 1224 sq. ft. - 2007 tax assessment $201,100). 6 Crowley Road sold on December 31, 2005 for $185,000 to retirees from Florida (builder/investor seller - 5 year old modular display model moved from dealer's lot - totally unfinished upstairs - 0.93 acres - 2034 sq. ft. - 2007 tax assessment $208,300. 183 Slab City Road sold on May 10, 2004 for $225,000 to retiree from Oregon (builder/owner seller - 2 years old - 0.94 acres - 1764 sq. ft. - 2007 tax assessment $209,600) 41 Tanglewood Road (next door) sold in June 2006 for $176,000 to local buyer (ex-MBNA seller - built 1985 as low income house - 2.32 acres - 1,080 sq. ft. - 2007 tax assessment $153,900) 7 Tanglewood Road (next door) sold January 17, 2007 for $177,000 (Crowley seller - built 1935 - remodeled 2001 - 2.95 acres - 960 sq. ft. - 2007 tax assessment $102,100) Small cottage.For COMPETING HOMES on the market, search: Camden, Rockport & Lincolnville at www.mainelistings.com FACTS: SIX YEARS OF REAL ESTATE SALES STATISTICS (from Maine Realtor data):The following tables show: (1) the actual number of homes listed each year; (2) the actual number of homes sold each year; (3) the percentage of listed houses that actually sold during the year; (4) the average asking prices; (5) the average selling prices; (6) the average number days it took for a house to sell; and (7) the percentage of the asking price that buyers actually paid. State Of Maine Year Homes Listed Homes Sold % Sold/list Ave List Price Ave Sold Price Ave Days on Market List/Sold % 2002 18,097 12,964 72% $180,751 $173,472 101 96.0% 2003 20,403 13,428 66% $203,841 $195,909 94 96.1% 2004 23,405 14,784 63% $234,760 $225,344 94 96.0% 2005 27,279 14,618 54% $252,981 $243,501 95 96.3% 2006 29,131 13,528 46% $254,081 $243,271 108 95.7% 2007 28,011 12,228 44% $262,360 $249,231 121 95.0% Knox County Year Homes Listed Homes Sold % Sold/list Ave List Price Ave Sold Price Ave Days on Market List/Sold % 2002 705 481 68% $262,526 $245,487 154 93.5% 2003 872 508 58% $279,718 $264,010 139 94.4% 2004 1003 597 60% $296,187 $277,519 123 93.7% 2005 990 493 50% $307,034 $288,856 149 94.1% 2006 1048 458 44% $333,230 $312,383 156 93.7% 2007 985 467 47% $325,263 $302,881 165 93.1% Waldo County Year Homes Listed Homes Sold % Sold/list Ave List Price Ave Sold Price Ave Days on Market List/Sold % 2002 604 388 64% $160,589 $151,915 158 94.6% 2003 700 410 59% $174,050 $165,552 153 95.1% 2004 824 471 57% $203,322 $192,463 122 94.7% 2005 932 447 48% $228,226 $217,148 123 95.1% 2006 919 392 43% $208,219 $198,642 143 95.4% 2007 956 366 38% $236,874 $226,629 142 95.7% Lincolnville Year Homes Listed Homes Sold % Sold/list Ave List Price Ave Sold Price Ave Days on Market List/Sold % 2002 39 26 67% $315,198 $302,300 238 95.9% 2003 63 30 48% $359,680 $338,163 132 94.0% 2004 60 35 58% $354,343 $342,657 100 96.7% 2005 84 29 35% $442,541 $415,538 127 93.9% 2006 76 37 49% $386,808 $367,144 219 94.9% 2007 77 32 42% $357,007 $327,143 158 91.6% Camden Year Homes Listed Homes Sold % Sold/list Ave List Price Ave Sold Price Ave Days on Market list/sold % 2002 119 89 75% $371,260 $354,972 159 95.6% 2003 163 98 60% $462,737 $442,812 128 95.7% 2004 179 118 66% $418,957 $388,816 126 92.8% 2005 159 99 62% $458,567 $437,109 155 95.3% 2006 174 80 46% $517,473 $485,338 147 93.8% 2007 157 85 54% $507,300 $468,731 185 92.4% Rockport Year Homes Listed Homes Sold % Sold/list Ave List Price Ave Sold Price Ave Days on Market List/Sold % 2002 71 62 87% $526,898 $481,058 178 91.3% 2003 111 48 43% $502,977 $464,304 157 92.3% 2004 116 54 47% $375,367 $356,213 156 94.9% 2005 113 53 47% $500,996 $452,781 183 90.4% 2006 119 49 41% $476,098 $445,318 185 93.5% 2007 108 49 45% $421,618 $393,264 184 93.3% FOR MORE INFORMATION, CONTACT PAUL CROWLEY (207) 789-5750 or crowley@tidewater.netHOW TO PROCEED:1. Call or email for more information.2. Come look at the property, and take my exclusive home tour, including competing homes now on the market, and comparable sales in the neighborhood.3. Make an offer.Article from CNN / Money:Timing the housing marketYou want to buy a home but are scared to take the plunge in a crumbling market. Here's how to think it through.NEW YORK (Money) -- Question: At some point I plan to buy a house in the $250,000 to $400,000 range. I have generally good credit and plan to make a down payment of 20 percent or more. But given the instability in the housing sector and generally tightening credit landscape, I'm wondering whether I should buy now or wait several months, maybe even a year, to see where the market settles. What do you think? - Daniel AkersAnswer: I don't recommend trying to time the housing market any more than I would timing the stock market. So if your aim by holding off is to try to get the best deal by buying just as prices have hit their low, I think that's unrealistic (emphasis added). After all, even assuming you can figure out the ideal time to buy - that is, when prices have hit not only hit a trough but are on the verge of rebounding - by the time you find the house you want, line up the financing and close the deal, the "best" time may have already passed. That said, given current state of the housing market, you certainly don't need to be in a rush. As my Money Magazine colleague Amanda Gengler pointed out in our December issue on the outlook for 2008, house prices are already down more than 4 percent from a year ago.And given the huge inventory of homes already for sale plus the ones likely to come into the market as more homeowners default on their mortgages and go into foreclosure, prices are forecast to tumble another 6 percent or so in 2008. Perhaps the Bush administration's proposal to help borrowers facing foreclosure may be able to limit the damage somewhat. But I don't think anyone believes prices will rebound in a significant way until 2009 at the earliest. So how do you factor all this information into your plans for buying a house? I recommend that you start looking around in different areas where you may be interested in living to get a sense of what the market is like and where it may be headed. The forecast I referred to above is the broad-brush picture. But the national housing market is really a collection of many local markets, and the prospects can vary considerably from one locale to the next, depending on such factors as how hot the market got, the local employment picture and the volume of inventory and potential foreclosures. But you'll also want to take time to do plenty of real-world legwork. Drive around different neighborhoods to see how many "for sale" signs you see and then talk to agents at several real estate offices to get an idea of how long homes are sitting on the market before they sell, how much below asking price they're going for and what kinds of concessions sellers are offering. While you're at it, you should also contact a few mortgage lenders to see what size of loan you can likely qualify for given your income, expenses, assets and liabilities, credit rating and the size of the down payment you plan on making. Part of the fallout of the subprime debacle is that lenders are now more stringent about the documentation they require before making a loan. You'll want to be sure you'll have access to documents like recent pay stubs, tax returns and savings and investment account statements so you'll be all set to apply for a loan when you're ready to buy. As I said before, you shouldn't feel under any pressure to make an immediate move. But when you eventually do see some houses you really like and feel you're ready to join the ranks of owners, you want to make the most of what is now most certainly a buyer's market. Find out what comparable houses have sold for recently and then consider starting your bidding at 10 percent to 15 percent below that price. Don't be surprised if the owner doesn't fall at your feet and thankfully accept your offer. Even in a down market, many owners have inflated notions of the value of their home and will stubbornly stick to an unrealistic price. So if you want to pick up a real bargain, you've got to be ready to walk away and go on to another listing. Generally, you'll have the most leverage when the owner is under some pressure to sell - a looming foreclosure, a job relocation, a commitment to purchase another house, an investor looking to escape burdensome carrying costs, etc. On the other hand, you don't want to overplay the haggling game and end up losing out on a great house for the sake of a few thousand bucks. For more advice on how to get the best deal. This kind of opportunity doesn't come around very often in the housing market. So take your time, do your research and make the most of it.If you are a serious prospective buyer who is ready to buy a home in Mid-Coast Maine, for more information or to schedule a showing please call: Paul Crowley, Owner, directly at (207) 789-5750, or direct email: crowley@tidewater.netFACTS: SIX YEARS OF REAL ESTATE SALES STATISTICS (from Maine Realtor data):The following tables show: (1) the actual number of homes listed each year; (2) the actual number of homes sold each year; (3) the percentage of listed houses that actually sold during the year; (4) the average asking prices; (5) the average selling prices; (6) the average number days it took for a house to sell; and (7) the percentage of the asking price that buyers actually paid. State Of Maine Year Homes Listed Homes Sold % Sold/list Ave List Price Ave Sold Price Ave Days on Market List/Sold % 2002 18,097 12,964 72% $180,751 $173,472 101 96.0% 2003 20,403 13,428 66% $203,841 $195,909 94 96.1% 2004 23,405 14,784 63% $234,760 $225,344 94 96.0% 2005 27,279 14,618 54% $252,981 $243,501 95 96.3% 2006 29,131 13,528 46% $254,081 $243,271 108 95.7% 2007 28,011 12,228 44% $262,360 $249,231 121 95.0% Knox County Year Homes Listed Homes Sold % Sold/list Ave List Price Ave Sold Price Ave Days on Market List/Sold % 2002 705 481 68% $262,526 $245,487 154 93.5% 2003 872 508 58% $279,718 $264,010 139 94.4% 2004 1003 597 60% $296,187 $277,519 123 93.7% 2005 990 493 50% $307,034 $288,856 149 94.1% 2006 1048 458 44% $333,230 $312,383 156 93.7% 2007 985 467 47% $325,263 $302,881 165 93.1% Waldo County Year Homes Listed Homes Sold % Sold/list Ave List Price Ave Sold Price Ave Days on Market List/Sold % 2002 604 388 64% $160,589 $151,915 158 94.6% 2003 700 410 59% $174,050 $165,552 153 95.1% 2004 824 471 57% $203,322 $192,463 122 94.7% 2005 932 447 48% $228,226 $217,148 123 95.1% 2006 919 392 43% $208,219 $198,642 143 95.4% 2007 956 366 38% $236,874 $226,629 142 95.7% Lincolnville Year Homes Listed Homes Sold % Sold/list Ave List Price Ave Sold Price Ave Days on Market List/Sold % 2002 39 26 67% $315,198 $302,300 238 95.9% 2003 63 30 48% $359,680 $338,163 132 94.0% 2004 60 35 58% $354,343 $342,657 100 96.7% 2005 84 29 35% $442,541 $415,538 127 93.9% 2006 76 37 49% $386,808 $367,144 219 94.9% 2007 77 32 42% $357,007 $327,143 158 91.6% Camden Year Homes Listed Homes Sold % Sold/list Ave List Price Ave Sold Price Ave Days on Market list/sold % 2002 119 89 75% $371,260 $354,972 159 95.6% 2003 163 98 60% $462,737 $442,812 128 95.7% 2004 179 118 66% $418,957 $388,816 126 92.8% 2005 159 99 62% $458,567 $437,109 155 95.3% 2006 174 80 46% $517,473 $485,338 147 93.8% 2007 157 85 54% $507,300 $468,731 185 92.4% Rockport Year Homes Listed Homes Sold % Sold/list Ave List Price Ave Sold Price Ave Days on Market List/Sold % 2002 71 62 87% $526,898 $481,058 178 91.3% 2003 111 48 43% $502,977 $464,304 157 92.3% 2004 116 54 47% $375,367 $356,213 156 94.9% 2005 113 53 47% $500,996 $452,781 183 90.4% 2006 119 49 41% $476,098 $445,318 185 93.5% 2007 108 49 45% $421,618 $393,264 184 93.3% FOR MORE INFORMATION, CONTACT PAUL CROWLEY (207) 789-5750 or crowley@tidewater.net On Google Maps search "Crowley Road Lincolnville Maine," then click the "SAT" button in the upper right corner of the map for a 5 year old aerial photo overlay.For excavation, site preparation, road and driveway construction, septic system construction, landscaping, home construction, or complete land/home packages, please call Paul Crowley (207) 789-5750. Estimates and quotes available.For more information or to schedule a showing please call: Paul Crowley, Owner, directly at (207) 789-5750, or email directly to crowley@tidewater.net
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