See You This Weekend!

    We're looking forward to seeing many old friends and making new ones at the 2010 Home and Garden Show to be held this weekend at the Central Lincoln County YMCA in Damariscotta.

   With this incredible spring like weather that we've been having here in the beautiful mid coast region of Maine many of us have started to think about how our homes look. If you've been considering a renovation to your home or a landscaping project you can get a wealth of ideas, all in one place this weekend.  Plant and Garden shops, Landscapers, home builders and all sorts of related businesses will have displays and demonstrations going on throughout the weekend.  Local favorite, King Eiders Pub will be serving some of their great fare and I'm told the local golf course will even have a putting green set up.

   If you don't own a home now would be a very good time to sit down with one of our Brokers and discuss the possibilities that exist in todays market for first time (and move up) Buyers.  Low interest rates, Tax incentives and abundant inventory from which to choose make this one of the best times in modern history to join the home ownership ranks.  We'll have Brokers at the show all weekend and several local lending institutions will be present, too.

   So come on down to the CLC YMCA this Saturday from 10 to 6 or Sunday from 10 to 4 and please stop by and say hi. You can't miss us, just look for the SOLD sign.

Jim Cosgrove

Mid Coast Maine Storm Damage

Not every part of a real estate brokers job is showing homes and writing contracts. Sometimes we have to step in and help our clients when they need it. This listing of mine in Damariscotta Mills took a glancing blow from a big tree branch last night, which isn't very surprising since we had wind speeds in excess of 70 miles an hour last night and there are over 25,000 homes without power in Lincoln County today. But it reminded me why I like living in a small town. A neighbor and friend knew the owner was out of town and called me to let me know that the house had been hit. I went over and took pictures, called the owner, contacted the insurance company, called the owner's friend, a building contractor, to give him the go ahead to fix the damage and within 15 minutes the owner of the insurance company was in the driveway assessing the damage and talking to the contractor. All while the owner is out of town. I just can't imagine that happening in a larger town.

So now the owners are on their way home, the work is getting done, the insurance claim is moving forward and everything will be right with the world once again. I even saw a bald eagle flying over the house when I was taking pictures and you know that has to be a good sign. I just wish I didn't have to cancel the showing for Sunday.

Tom Field

The People of the Pemaquid Peninsula

   Most folks looking for a home in Mid Coast Maine are initially attracted by the sheer beauty of our landscapes and seascapes. Once they settle in, they quickly discover there's another attraction that makes living here special - our diverse and interesting people.  Over the next few months we'll introduce you to some of those folks here on our blog. And today we'd like to start with one of the nicest and most interesting persons we know, Bud Elwin.

    Bud and his lovely bride Janet are originally from the Somerville Massachusetts area, where they raised their 3 children and Bud worked for Hewlett Packard. They were longtime vacationers in Maine already by 1980 when they happened to visit friends in South Bristol here on the Pemaquid Peninsula. One boat ride on the Damariscotta River was all it took to convince them that this was where they wanted to retire.

   As they were leaving town that weekend they stopped at a Main Street real estate agency and after talking with a broker decided to look at and buy a 5 acre parcel on Prentiss Cove in the Walpole section of South Bristol. This is a great neighborhood, close to all of the village amenities but with low taxes and right on the river.  By 1988 the Elwin's could no longer wait for Bud to wind down his career in Mass. so they built their retirement home and Janet became a year round resident while Bud continued to commute to his job and enjoy Maine on the weekends. Finally in 2000 Bud retired and no longer endures that all that driving. Unable to sit still Bud took a part time job working in the pro shop at our local golf course and also spent an enormous amount of time reading all those books he'd always meant to get too.

   Five years ago Bud found a used book entitled "It's Only Me", by John Underwood, which chronicles the life and career of Ted Williams. The book includes a 62 minute CD narrated by The Splendid Splinter himself.  Buds initial curiosity about Ted Williams was transformed into an obsession. subsequently Bud read 21 books on his Red Sox idol and claims he just might know Ted Williams better than Ted knew himself.  Bud has made pilgrimages to Ted's famous fishing lodge in Canada and befriended his old fishing guide. Buds car carries the license plate TED 406 and the decals "Splinter 9" and "TEDDY BALLGAME".

   Reading about baseball and researching the life of his hero, Bud found that many of the players interviewed talked about crossing the "white base line" and the emotional impact of taking the field. This fueled Buds passion to experience the same emotion and so, in the spring of '09 Bud signed up to go to Red Sox Fantasy Camp.  This required him to 1. come up with a financial plan to pay for the camp and 2. to come up with a fitness program to enable his 70 year old body to withstand the rigors of the one week camp.

   The financial plan was the first priority. Bud designed a sports jacket with Red Sox and Ted Williams insignias sown on by Janet. Using the modern technology of E Bay, Bud was able to sell enough of the jackets to meet his financial goal. However his fitness goals would take longer. In July of 2009 Bud joined our local YMCA and with the guidance of a fitness instructor developed an ambitious plan.  As of this writing Bud has completed over 80 workouts, lost more than 18 pounds, reduced his waist size and greatly improved his flexibility. Bud met a former player from the Minnesota Twins organization who became his hitting instructor and got any high school player he could find to help him throw long toss and play catch. Camp opens on January 31 and Buds final words as he was leaving were, "I'm as fit as ever and ready to win the home-run derby".

   Bud has promised us an update if he can and would like to invite any of our snowbird residents who might presently be in the Fort Myers FL area to join him for a BBQ with former Red Sox players and his fantasy camp teammates. Send Bud an email at budelwin@gmail.com.  We'll hope to post more pictures when Bud returns. Hopefully with that Homerun Trophy!

   Watch right here for more stories of some of the interesting people who have either moved to or lived their whole life on the beautiful Pemaquid Peninsula. 

Lee Simard
 

Happy Holidays

....and this is exactly what Christmas morning will look like at our house. If the maids remember to show up. 

   Whatever you are celebrating at this time of year, Christmas, Hanukkah, Kwanzaa, Solstice, Festivus, we hope you are with family and friends and healthy and happy.

The Brokers and Staff at Newcastle Square Realty
 

Damariscotta Welcomes Santa Claus

The first Saturday after Thanksgiving is usually a very slow day to have floor duty. I mean verrrrryyyyyy slow. So I was a little surprised when I saw all these people lining up on Main Street in Damariscotta apparently waiting for something.

They were all looking towards the bridge to Newcastle and I soon learned why. 

It seems that Santa Claus was coming to town for a visit to remind people that Christmas is coming. 

Here is the happy old gent out in front of Newcastle Square Realty.

And here are the tap dancing Elf/Rockettes who gave him a little tap dance welcome to town.

So once again you never know what is going to happen in the Greater Damariscotta/Newcastle Metro area.

Tom Field

Scenes from "the Early Bird"

Today is Damariscotta and Newcastle's "Early Bird" Sale.  Stores open at 6 AM with outrageous discounts that become progressively smaller as the day goes on.  So the big savings are to be had at the crack of dawn.  Here are a few scenes from later in the morning at what some would consider a more civilized hour.

 

 
 
 

 

 
 

What a Difference a Year Makes

    The Associated Press reports today that jobless claims have dropped to their lowest level since January and prices of household goods stayed low last month, positive signs of stability for the economic recovery. The Dow has risen above 10,000. Here in Maine, the Maine Association of Realtors is reporting another month of increased home sales.

   As I recall, at this time last year, we were waking up every morning wondering what bank or financial institution was going to fail that day.  It was a steady drumbeat of bad news, Lehman Bros., Fannie and Freddie, Countrywide, AIG, Wachovia and all of it wrapped up in election year rhetoric.  Potential home Sellers sat in stunned disbelief as we tried to explain that they just weren't going to achieve prices similar to what their neighbors had gotten just a year before. Potential home Buyers just sat, paralyzed in fear by the cascading bad news.

   What a difference a year makes.  As it slowly sinks in that, just like with every other economic downturn in history, this one too shall pass, the mood of people walking through our door, both Buyers and Sellers is decidedly more upbeat.  Sellers have come to terms with the fact that they are not going to get for their home in 2009 what they might have in 2006.  But those that are moving on know that they will make it up when they buy.  Buyers, aided by low interest rates, ample choices from which to buy and in some cases government tax incentives are very happily picking up homes that they could not have gotten into 3 or even 2 years ago.

   Fixed rate loans have begin to inch up ever so slightly and many of the better homes have been bought, but new properties are coming on the market and priced according to the new reality as there are now comparable sales on which to base those prices.  It is an excellent time to be in the real estate market right now. We couldn't say that a year ago.

Jim Cosgrove

Damariscotta Pumpkinfest Pictures

I was up north yesterday looking for a "camp" with a friend of mine so I didn't see all of the activity in Greater Damariscotta/Newcastle metro area that happened while I was away. It seems that there has been mass pumpkin hysteria, known as the 3rd Annual Pumpkinfest that has hit our fair towns. If you have never been to Pumpkinfest you owe it to yourself to come take a look. Click on the link for a list of activities. Personally I am trying to get out of the office so I can see the 100' cannon shoot a 10lb. pumpkin about 4000 feet. Don't forget to check out the activities happening in Damariscotta Mills at the fishladder too.

This Pumpkin was on the Mills Road in Newcastle at The Postal Center USA.

These were on Main Street in front of King Eiders and Colby and Gale.

And this Pumpkin is a shamless plug and reminder that the Making Strides Against Breast Cancer Walk in Damariscotta and Newcastle is next weekend. I will be walking again and I am looking for donations. If you would like to donate please contact me at the office at 207-563-1003 or send me an email for details to tomfield@cheneycompanies.com. I would really appreciate your support.

Tom Field

How Much More is a Green Home Worth?

    We've heard a lot lately about "Green Homes" and how much consumers supposedly want them.  Sort of like hybrid automobiles.  Except that with hybrid cars,very few people have actually bought one.  The only people I know that have one, bought it with a government tax credit.  Otherwise no one that I've ever met has been willing to pay 10 to 20% more for a hybrid car.  So is it any different for homes?

   Apparently "Green" homes works better as a concept on the op ed pages than they do in reality.  According to a recent survey from the National Association of Homebuilders, prospective home buyers are unwilling to pay much more for a "green" home.

   "Although we are seeing significant interest in green building, cost effectiveness is clearly a key concern among home buyers,"  said NAHB Chairman Joe Robson, a home builder and developer in Tulsa, Okla. "Builders said that among buyers who are willing to pay more for green features, more than half - 57 percent - are unlikely to pay more than an additional two percent."  Only 11 percent of builders nationwide indicated that their customers ask about environmentally friendly features according to the survey.

   Any real estate broker in this part of the country could tell you that people are interested in what it will cost them to heat their new home.  We regularly list a homes past years energy consumption and it's not unusual for buyers to ask for several years history.  The NAHB survey confirms that overall, energy efficiency is the prime factor driving the green building movement.  "...when buyers prepare to sign on the dotted line, cost effectiveness clearly drives their decisions," said Robson. "We need to make sure our energy policies reflect that reality so that builders have the flexibility to use lot and site design, high efficiency heating....and other features to achieve the desired result at the right price."

   In other words, its not green features for the sake of being green, its cost and return on investment that will drive future building. Building homes from recycled materials for its own sake may be laudable and even desirable but by and large consumers won't pay for it.  Consumers will pay for items that will pay for themselves.

   Building "Green" for the sake of being "Green" may sound good in theory but it needs to be practical and able to prove itself just like any other aspect of a home.  Rational beings needs to see a direct benefit to what they are paying for.  Before politicians come up with programs to encourage developers to bring even more homes onto an already glutted market they should make sure they are encouraging what buyers actually want rather than what they think they know is best for those consumers.

Jim Cosgrove

Everything is Selling!

    Need more proof that the real estate tide has turned?  Look what home just went under contract.  Famed (Infamous?) financier Bernie Madoff's weekend getaway home in Montauk on Long Island.

   This little 3,000 sq. ft. 4 bedroom cottage was actually under the control of the U.S. Marshall's at the time of going under contract as Bernie is otherwise engaged right now and for the rest of his life but it is worth noting that, according to reliable news sources (the Internet, can't get more reliable than that) there were multiple offers and the contract is for more than the $8.75 asking price.

   While Montauk is not quite The Hampton's it is close enough and this sale speaks to a resurgent luxury market.  Bernie and the Missus bought the place in 1980 for $250,000.  Astute readers will note that Bernie wasn't putting his money into mutual funds, he was into real estate.

Jim Cosgrove