I saw this at the dock when I came into work this morning. The owner served for 20 years in the Coast Guard and has been working on restoring this Motorized Life Boat for years. Does this qualify as bringing your work home with you?
Amazing project.
I have been in a lot of offices over the years and had a lot of different views out the window. This one is a first for me though.
Now I know that Damariscotta Bank and Trust (DB&T) usually gives out lollipops to kids and biscuits to dogs but what do they give to the horse?
Who says the real estate market is slow? Just look at this crowd in the lobby of Newcastle Square Realty World Headquarters.
Actually this is the reception held Saturday morning after the dedication of the new lights on the bridge spanning the Damariscotta River between the Twin Villages of Newcastle and Damariscotta. The lights were a gift to the two towns from the Damariscotta-Newcastle Rotary Club.
After a ceremony at the bridge which included speeches by Selectmen from both towns, Rotary presidents past and present, Rotary District Governor Liz Cullen and noted local historian Dick Day, everyone came in out of the cold and enjoyed cake and coffee.
The lights really dress up the bridge and are a nice finishing touch to our Main Street project. And just as soon as I learn to take a decent picture at night we'll post a shot here of the bridge all lit up!
Jim Cosgrove
The downtown Damariscotta construction project is finally done! We have a newly paved Main street with proper drainage and granite curbs. We have nice wide sidewalks with 'bump outs" at the crosswalks that may be a little tricky for snowplowing but make life easier for folks using wheelchairs and we also have a downtown traffic light!
Now, it's not like this is our first traffic light in town. We got the first one about 10 years ago down at the intersection of Biscay Road and Business Route 1(Business Route 1 being the Route 1 bypass through town that Wiscasset wishes it had built back in the '60's). And there's a blinking light out on Route 1 itself where Belvedere Road crosses it. But this is right downtown. They just turned it on one morning without giving anyone any warning. I almost drove through the red light while I was looking at it and saying to myself " will you look at that, there's a traffic light now". Seems as if they should have had a ceremony or something, maybe hung some balloons out, you know, sort of made a big deal out of it. But no, they just turned it on and expected everybody to start stopping and going like it had always been there.
They should have learned from the Biscay Road light experience. Heck, I still see old timers barrel right through that one like it isn't there. I guess they'll get used to it eventually but it has only been 10 years. So we'll expect a learning curve while folks get used to this one. It's a pretty fancy setup that's for sure. It has a picture of a hand that lights up and tells you when not to cross the road and there's even one light that sort of points towards a driveway, I guess to let then know when it's safe to come out onto the street. Wonder how they decided to time that one?
We also have freshly painted crosswalks and folks are really enjoying stopping so that people can use them. Some people stop their cars even if someone just walks near the crosswalk. The other day I was walking down the road with absolutely no intention of crossing to the other side when I heard a car horn beeping. I looked up and there was a lady waving for me to cross the road. I realized then that I was getting close to a crosswalk. Well I didn't want to hurt her feelings or anything so I crossed over. She seemed quite happy and was beaming as she drove on with a wave. I waited until she was out of sight and then went back to the crosswalk, whereupon I got to make someone else happy by letting them stop and wave me across so I could go back to my office. Honestly if you want to make people wicked happy just come to Damariscotta and cross the street a bunch of times.
All in all though I'd say downtown is pretty nice. It was a bit of an inconvenience while they were working on it but it's not like it's something they do every year. With any luck this will take care of our needs for a good long time.
This was the scene on Main Street in Damariscotta this morning just before the annual Early Bird Sale kicked off at 6 AM. Although the poor weather forecast may have contributed to keeping the crowds down a little from previous years the turnout got better as the sky lightened and business was brisk.
The Maine Coast Book Shop is always very kind and allows many of the local non profit organizations to set up booths in front of their shop (and under their overhanging roof). Be sure and check out their new blog where I'm told there will be more pictures of this mornings event.
Now admit it, when you first saw the phrase " Pumpkin Race" you didn't imagine that it meant grown men in hollowed out Atlantic Giant pumpkins? Well, the First Annual Pumpkin Regatta is over and nobody drowned! Last year was the first time these craft took to the water in front of an audience but this year drew quite a crowd.
Bill Green of WCSH Channel 6 TV (seen above) was a scratch from the race because he capsized, proving that the folks that race these giant gourds aren't just pretty faces but are skilled sea persons in the great Maine tradition.
In between showings today, Newcastle Squares' Tom Field managed to get these pictures. Stand by for complete race results from The Lincoln County News.
Things are hoppin' here in the Mid coast area of Maine, that's for sure. Our downtown beautification project is only half done but folks sure do seem to like strolling the new sidewalks, shopping and coming into our office to look at all of the homes for sale. Now, it's true many are just dreaming of being able to live, work and play in the greatest spot on earth but some do make the move and we enjoy talking with everyone regardless. 
You also never know what you're going to see coming through town or out in the back parking lot. We get cell phone calls from people on boats and in kayaks who have seen "For Sale" signs. Planes are landing on the water in the harbor and pulling up to the town dock, and all manner of vehicles and travel trailers can be found in the parking lot here behind Newcastle Square Realty World Headquarters.
If you're in the area please stop in and say "hi'.
Jim Cosgrove
Yesterday morning I rushed into the office after my early showings, grabbed a camera and jogged up Main Street hoping not to miss the removal of the steeple from the Damariscotta Baptist Church. For those not familiar with the story, the steeple of the Baptist church is one of the most recognizable figures of the Damariscotta skyline, visible to passersby on Route 1, boaters on the Damariscotta River and from most parts of town. 
Recently it was discovered that the underpinnings of the steeple were rotten and that the steeple was in danger of falling down.
The Church began a campaign to raise funds to remove and repair the steeple and have now gotten to the point where they could remove it and begin the process. Yesterday was the day it was coming off.
Workers arrived at 4 AM and the initial much anticipated lift off was scheduled for 10 AM. It was quite an event with the huge crane, lots of men in hard hats, Central Maine Power employees, police and lots of spectators some of whom had brought their lawn chairs. It was 1 PM before we began to hear creaks and groans as the steeple and it's newly assembled carriage gradually succumbed to the pressure of the crane and finally let go.
Once loose the crane operator gently and ever so slowly, smoothly moved it over and lowered it to the ground to the right of the church where workmen had prepared a bed for it to sit on. Here she will sit while repairs are made, money is raised and she is reunited with her majestic spot overlooking the town.
To help you appreciate the size of this look at this picture of the steeple down on the ground! 
So if you are driving north on Route 1, don't miss the exit to Damariscotta and Newcastle because you don't see the steeple. We're still here! The town does look very different and it can be a bit jarring to look up and not see the steeple there. We hope that the church is successful in their fund raising and that by next summer we'll be posting a story about the steeple going back up!
The Main Street reconstruction project in Damariscotta comes to a halt today! After several months of "ripping it up and putting it back together" the construction crews will be pulling out for the summer as it is simply too much to deal with the combination of summer volume and the one way traffic necessitated by the job.
Although we think the crews have been great in their attempts to minimize delays and disruptions to our businesses, the traffic and general activity has picked up as we get further into the summer season. What used to be a 5 to 10 minute delay has recently stretched into a 20 to 25 minute or even longer delay. So major kudos to our Town Fathers (much maligned in this spot I know, but not this time) for negotiating a 2 month halt in the project. The crews will be back after Labor Day to finish up, which is expected to take another 2 months.
For now we'll live with our new curbstones and wider sidewalks with temporary hot top on them and a street that is slightly lower than it will be when finished. All in all in doesn't look too bad and should be pretty nice when finished.
If this fellow pictured below isn't careful he might get left behind as they pull out!
Despite Jim's remarks about "highly successful workaholics" some of us are managing to stay in balance, be highly successful and have some fun here in Maine, the state that proclaims itself "The Way Life Should Be".
For the past 4 years I have captained a Tennis Team based at the Central Lincoln County YMCA called "Net Gains". We are a diverse group of women ranging in age from the 40's to the 70's with widely varying talents and interests. On and off the courts we are competitive and constantly working to improve. Many of my closest relationships through the years can be traced to tennis...the game for a lifetime!
The talent (besides tennis) on the team is amazing. There are several artists with very different styles, Jane Dahmen and Joy Vaughan. Tamar Francis is a graphic artist who currently works at Natural Expressions Jewelry Gallery. Be sure to click on the links to see some of their work.
Jen Mathews owns the well-known fabric store in Edgecomb, On Board Fabrics. Frances Pusch and Sheila Palmer both have successful sewing and slipcover businesses.
Louise Belknap, formerly of the gone but not forgotten and much missed Belknaps Hardware, is the proud mother of Anna Belknap, aka Detective Lindsey Monroe on CSI: NY. It became very clear to all of us last week as we played a game that involved acting that Anna's talent comes directly from her mother!
Lisa Gilbride, tennis pro extraordinaire and beloved coach, runs an amazing program at "the Y" in Damariscotta. She handles an incredible number of players of all ages, abilities and personalities, always with a smile.
Recently we gathered at Jane's beautiful home overlooking the Damariscotta River for a season ending celebration. After a great season on the tennis courts we decided to try something different. Who knew that hitting a ball that isn't moving would be so difficult? Elizabeth Sylvester (aka Tiger) put us all to shame, not only actually hitting the ball but hitting it straight and long!
And yes, I work very hard at my real estate business. But I play hard as well, thanks to these wonderful women who have become great friends!
Who says summer's a short season in Maine? It's still May and the municipal parking lot and town landing was abuzz with summer activities early this morning. Every day more and more boats appear on the river and in Damariscotta Harbor.
This morning "Calliope" was launched while kayakers arrived for their paddle on the river. We watch all this activity from the 2nd floor deck here at Newcastle Square Realty World Headquarters. Main Street may be under construction but it is absolutely glorious on the other side of the building!
Let me say it again; Damariscotta is a good town. A good place to live and work and raise kids. Of course when I say Damariscotta I mean the whole region. It's just that Damariscotta functions as the downtown for the entire peninsula including Newcastle, Nobleboro, Bremen, Bristol and South Bristol. What I'm specifically thinking about today is the anonymous merchant that is decorating downtown with flags for Memorial Day. The construction crews have pulled out until Tuesday and traffic is flowing in both directions. We've got some of the dirt off of the front of our buildings and if you come downtown you can use the front doors of our offices and stores. But what will really stick out is all of the American flags that are hanging from just about every storefront. Thank You!
I took a picture of the flags going up on our building and if you have a real sharp eye you'll notice our new granite curbstones and dirt sidewalks. It's going to be a little dusty for a while but I'm sure it will be real nice when this project is done.
If you're a frequent reader of this blog you will also recall that not too long ago we had a very nice blue awning on the front of our building. That's gone for now, a casualty of the mammoth machinery that has been working just inches from our plate glass windows. But it will return just a soon as the work is done.
Have a great Memorial Day weekend. Don't forget to honor our Veterans and remember why we celebrate the day.
Damariscotta's Main Street construction project has moved across the street from our office so our front door is open again. However it's still easier to use the rear entrance and there are "acres of free parking" !
In any case our website is ALWAYS open so feel free to browse to your hearts content. This is a GREAT time to buy. What are you waiting for?
First we had the Valentines Day Blizzard, then we had the St. Patrick's Day Storm and now we have the Patriots Day Nor'easter. I can't wait to see what Memorial Day will bring. For the uninitiated, Patriots Day is only celebrated in Maine and Massachusetts and commemorates the battles of Lexington and Concord that began the Revolutionary War. Until 1821 Maine was a part of Massachusetts and although we severed all ties with them we're no fools, we kept the holiday!
We're getting quite a rain and wind storm today but so far at least the damage has been minimal. Main Street in Damariscotta is closed because there is a chimney on one of the taller buildings that has lost a few bricks and flying bricks at 50 mile an hour winds are what we refer to as a "safety issue".
Redirecting traffic through the municipal parking lot brought some challenges of it's own like a high tide that just barely avoided flooding the entire lot. And speaking of high tide, when did Schooner Landing become a floating restaurant?
One day into Damariscotta's Main Street Construction Project aka The Little Dig, and the work is already behind schedule. Those of you who are paying attention will recall that the project was all over the media last week including articles in The Lincoln County News, pieces on Channel 6 and even a mention here (see below). Officials from the State of Maine D.O.T. came to Damariscotta and met with members of the Main Street business community and assured us that they would do their utmost to minimize disruptions to our businesses.
Well, they accomplished that. There was next to no traffic downtown this morning as most people heeded the warnings and found other routes into or out of town. But what also kept the traffic down was that no work occurred! Some flaggers in orange vests showed up and for a brief time one lone truck raised it's cherry picker and worked on the wires. A few supervisory types showed up and stood around down by the bridge but other than that nothing happened. Not one shovel full of dirt was turned over.
Was it too cold? It was only in the high 40's today. Was it the rain? That didn't start until after 3 this afternoon. We have a bad habit in this state of waiting until the busiest time of year to do our road work. There was hope that this project was going to be different but this is not a good beginning. Let's hope that come June 30, the date that the crews were expected to pack up and leave, we won't hear that they have to work further into the summer because they got a late start.
Traffic delays are coming to Damariscotta and Newcastle in the form of The Little Dig, also known as the Main Street Construction Project. While The Little Dig has so far not caused the disruption or cost over runs of the more famous Boston Big Dig it is sure to be a pain in the toochis.
On Monday March 26th the traffic on the Damariscotta Newcastle Bridge will be delayed so that construction crews can bore a big hole in the bridge and create a new storm drain. What this will mean for traffic is unclear but I for one will be taking a different route to the office. There will be updates in the Lincoln County News and I'm sure, more pithy commentary here at Maine Coast Properties blog so check back often to keep up with this project.
The sun may not be very warm this time of year but it can be bright. This picture is looking west from the municipal parking lot in Damariscotta (behind the Mediterranean Cafe) across the river towards Newcastle and was taken just as we were leaving the office last night.
Newcastle Square Realty's maine coast properties blog is in the news! The Lincoln County News to be exact. Recently I was asked by LCN's ace reporter Sherwood Olin if he could interview me for an article he was writing regarding blogs. I figured we'd chat a little about blogs and maybe he'd mention my name in the article, maybe not. We did wind up talking for quite some time but still I was surprised when this weeks paper came out and my phone started to ring. I think we got almost as much ink as the folks who are fighting over the cost of the new town office and maybe even more that the report from the Sheriffs Dept.
Now, Sherwood's a great guy and a super reporter. You know we must not have any big scandals going on around here because if we did he would have found them by now. But I did have one small, very small, complaint about the story. He quotes me at length, like I said we talked for quite some time. But in one of those quotes he has me using, how shall we say, an indelicate word. Not a real bad word, it's actually quite descriptive and as used, apropos. But it is the kind of word that my mother is going to call me and say "you can't say that in the newspaper...and by the way why weren't you wearing a tie when he took your picture?"
Well, I'm not taking the heat on this one. As they say in Washington D.C. and Augusta and the Portland School Board, "I didn't say it, I was misquoted. And if I did say it I didn't mean it."
No I'm not going to repeat it here, you'll have to read the article.
I'm sitting here at the office, excuse me Newcastle Square Realty World Headquarters, on a Saturday morning - I have floor duty which means it's my turn to be the on duty broker helping those people who walk in off the street or send an email not addressed to a specific broker and since it's the weekend and our office manager, Linda Mitkus is off, I also get to answer the telephone. With a temperature outside of 6 degrees, before wind chill, I have not been overwhelmed with walk in customers this morning. Often, spring through fall anyway, there is a familiar "tap, tap, tap" on our front window panes as people outside point to pictures of the various listings we have hanging there. Not today.
Is my time wasted sitting at the front desk ready for business? Does anybody look at real estate in Maine in winter? They certainly do.
Due to our presence on Realtor.com the number one real estate web site in the world as well as the incredible amount of traffic we get at our own Newcastle Square Realty site which I'm pretty sure is the number two real estate web site in the world, there are plenty of people making email inquires and on line shopping from the comfort of their homes, many of them someplace MUCH warmer than here.
Most home buyers today begin their home search using the Internet. Buyers can gather lots of useful information about home prices, towns, schools and more by starting their search on the web. As buyers begin to have more detailed questions about properties and start to formulate their plans to actually take a trip to Maine, this is when the services of a knowledgeable and experienced real estate agent becomes invaluable. Starting with a phone call or email, I answer all sorts of questions, send more information and begin to set up dates to meet and start their home search. Here at Newcastle Square Realty all of our property packets have been turned into PDF documents and are available for easy email delivery. It's always exciting to start out on this new adventure with a buyer. I get to meet some great people from all across the country and sometimes even other parts of the world.
This morning I have spoken to a lovely couple from Pennsylvania who will be moving to Maine, they have grown children who already live in the area. Their home in PA is on the market and getting some good interest lately so they are ready to start looking for their new digs here on the Pemaquid Peninsula.
I have also been chatting, via email and phone with a kayaking enthusiast from New Hampshire who would like to find a small home along the Damariscotta River. He has tried and canceled twice in the past month to get here, due to bad weather on his proposed driving days, but he'll be here in February and I have a list of properties to show him.
Well floor duty will be over soon and I've got two homes to show this afternoon from appointments made earlier this week.
Is this a quiet real estate market? Not by my account. It is a different market than a few years ago but people are still buying and selling homes. And if someone is making an appointment to see a home in this weather, you can bet they're serious about it.
If you're serious about buying a home in Maine, don't wait for spring, call me today!
Friends from places that I used to live in, Rye, New York, Newport, Rhode Island and Boston often ask me, "what does one do in Maine during the winter?" The implication clearly being that there could not possibly be any worthwhile means of amusing oneself in such a lonely, cold backwater corner of New England. Oh, sure Maine is a fine place to visit in the summer or even fall, but in winter? Surely you must simply die from the boredom.
I usually just murmur something and smile and try to change the subject. This is a very special place and some, no most, of us like it better in the off season when we have things all to ourselves. We really don't want this to get out. But for those of you who are thinking of buying real estate in Maine and moving here I'm going to let you in on this well kept secret.
I moved here in 2000 looking for a better quality of life, a town that hadn't been touched by big box stores and a community of friendly people interested in preservation, the arts, sailing, the list is endless. I spend way more time than I planned on selling real estate but that's all right because I meet the nicest people, people who are looking for the same thing I was just a few years ago. But, when I'm not busy with my new career here's a sample of some of the ways we have to spend our time.
Last Friday night I had an absolutely fabulous dinner at 74 Maine Bistro located just across from our office on Main Street in Damariscotta. The ambiance and food were excellent. We then went to a Heartwood Theater Production at Skidompha Library. Copenhagen was presented in the round. The acting was incredible and held a packed house for two and a half hours! Saturday, I slept in and after checking my messages at the office I had lunch with a friend from the Boothbay Chamber of Commerce at Salt Bay Cafe, also here in Damariscotta. Saturday night a fellow broker and I had dinner at the Damariscotta River Grill (hmm, I think we talked about real estate, I must check with my accountant to see if that qualifies as deductible). Even though we arrived at 5:30 planning on going to the 7 o'clock show at the Lincoln Theater, everyone else must have had the same idea because both floors were packed so we sat at the bar and had a dinner of assorted appetizers. Afterwards we enjoyed the movie The Queen.
After Church on Sunday I made the one hour drive to Portland with a friend and had brunch at Oofa, a bistro on the corner of Commerce and State Street. They have the best virgin Bloody Mary's and Eggs Florentine that I have ever tasted, bar none. Afterwords we went to the 2:30 performance of Tonight: A Tribute to Leonard Bernstein given by the Portland Symphony Orchestra at Merrill Auditorium. A standing ovation for the performance by all present.
So you see there is never a dull moment for those interested in good restaurants and the arts here in Maine during the winter. But please, don't tell anyone. If you think this sounds like the place where you would like to live, quietly pick up the phone and give me a call, this is our little secret!
As we approach the Eve of Christmas in Mid Coast Maine we are in danger of setting a record for a high temperature and have absolutely no chance of seeing white. Here at Newcastle Square Realty World Headquarters not a creature is stirring except the mice and yours truly and I'm out of here as soon as I hit "post". If you'd like to see a property send an email or leave a message and someone will get back to you on Tuesday morning.
But, before I leave please let me take just a minute to reflect on some of the things that help to make our area the wonderful place it is. It's not really the spectacular natural beauty all around us (although we have plenty of that, see Lee's post below) or our so called quaint and charming village center or anything physical. Rather I think it is the people who live here and the way they care about each other, even those they may not know personally. When you get right down to it a community is about people and how they care for one another.
We have a lot of need in our area and I'll list a few of the organizations that are trying to help meet those needs. If the Holiday spirit moves you please feel free to send them a check or maybe give them a call and volunteer to help out. It will be appreciated and you will make a difference.
Community Housing Improvement Project (CHIP) PO Box 6, New Harbor, ME 04554
Big Brothers/Big Sisters of Midcoast Maine PO Box 457, Damariscotta, ME 04543
Eldercare Network of Lincoln County, 6 Hodgdon St., Damariscotta, ME 04543
It's interesting that none of these organizations has a website that I could link to here, everything they collect goes towards the care they are providing.
There are plenty of other worthy charities and organizations doing lots of good in our area. The Y could use money for scholarships and they're always looking for coaches. The school could always use some new band instruments or uniforms or books in the library. The Lincoln Home and the Hospital would love to hear from you. And once you've helped out with all of the human needs, we have a church here in town that's in danger of losing it's steeple. The parish can't afford to replace it and unless money can be raised we may loose a local landmark.
So really, there's no end to the opportunity to do good things if you want too.
Well that's all I have to say today. I'm going home to spend time with my family. I hope you all have a wonderful holiday with your loved ones. Peace.
If you've been trying to call us today and are having trouble getting through, please keep trying. Main Street in the Twin Villages of Damariscotta and Newcastle is in the midst of a major face lift and as you can see in this picture, today the Central Maine Power crews are working on the lines right in front of Newcastle Square Realty World Headquarters.
They have been up and down Main Street for the last 2 weeks and while there have been some pretty good traffic jams it's nothing like it would have been in the summer. I would be remiss if I didn't add that the CMP guys are doing a terrific job of keeping all of the businesses informed as to when their power will go out and how long it will be down. These guys are moving live wires around and all in all it's going pretty well.
The comment most heard on the street and in the coffee shops is "why aren't they putting the lines under ground?" Well a reliable source tells me that the cost of burying the power and changing the entrances to the various buildings would have exceeded $3 million. When this town finds an extra $3 million I can think of quite a few things we need more than buried power lines.
They'll be finished with the power line phase of the project soon and nothing more will happen until next spring. That's when the real dirty work will start as they begin to rip up the pavement. Next summer has the potential to be a mess. If you're coming from outside of the area we'll try to keep you informed of what to avoid and some possible alternate routes.
Ever wonder what real estate professionals do at a holiday party? I will let you in on a secret; they get house tours of each others homes. Bill and Tracy Babcock christened their new house by hosting a great holiday party for the brokers and staff of Newcastle Square Realty. Actually this isn't a new house but an older, circa 1850 home with a beautiful new addition. Bill and Tracy, along with one of our fine local craftsmen have spent the last 3 years painstakingly working on every detail of this project.
One of the problems we see all too often when someone puts a new addition onto an older home is that the two parts of the home simply don't match. Not so here, the Babcock's have done an amazing job of blending the old with the new without losing any of the charm of the original 19th century farmhouse. It is certainly worthy of spread in House Beautiful or Architectural Digest or even the mainecoastpropertiesblog!
And what was the highlight of the tour? Was it the his and her dressing rooms? This his and her offices? The incredibly well appointed chefs kitchen?
No, it was....the automatic opening trash can. How have I lived without one of these for so long? You wave some trash in front of it and it opens. How cool is that? You've never seen people use so many napkins just for a chance to throw them away. I'm calling my stock broker today and buying into the company that makes these. Clearly this is the next big thing!
Editors note: (Big sigh) This is a true story. Sad, but true. Gone are the days when people could get in serious trouble with the boss for what they did at the office party. We're a very staid group.
Let me make one thing clear. Damariscotta is a great town to live in. We have good schools, low crime, great people, I could go on and on. But, everything is not perfect and here at mainecoastpropertiesblog we don't pull any punches. We 're giving it to you straight and unvarnished, warts and all. So here's the truth, we have a problem. A Christmas Tree problem to be exact.
For some reason, we don't do a very good job with out tree. Every year it seems we put up a smaller and smaller tree. This years tree is so small, if you come up Main Street you can't see it behind the route signs pointing down Bristol Road. If you're going to put up a tree behind signs shouldn't it at least be taller than those signs?
Who's idea was this? We live in The Pine Tree State for gosh sakes. We have more trees than any other single resource. Walk out in the woods behind anyones house and you'll find a bigger tree than this but we can't find a decent size tree for our downtown decoration?
C'mon Town Fathers let's step up your game here, this was a really weak effort. By next year the State has promised that we'll have a freshly rebuilt road and interchange at that corner. Let's put up a proper Christmas Tree!
Editors note: Our legal department has advised us that the proper term should be "Holiday Tree". We have decided to continue with the use of the more traditional term but to make our readers a promise that if you will not be offended by our traditions we promise not to be offended by yours!
Oh Oh, Field is linking to the 3 Stooges, I better get something up there that's serious right away. Based on what I've seen out there in the blogoshpere, when it comes to real estate blogs there must be a rule that they have to be deadly dull because that's exactly what most of them are. I expect any day to receive a visit from the blog police ordering us to talk more about interest rates and bursting bubbles.
So, to keep us in the fraternity and to show a little gravitas here is our answer to that question every real estate broker gets at least once a day; "so, how's the market?"
The market is OK. Remember now, we're in Mid Coast, Maine. I'm not talking about Boston metro, New York, San Francisco or anywhere else. The Mid Coast, Maine market is OK. Not great, nowhere near what it was from say, summer of '03 through about late summer of '05. But there was never a bubble here, we didn't see a lot of buying on speculation. We had a strong market with lots of buyers as befits an area so desirable to live in. Every reason why people wanted to move here last year or the year before is still valid. No major employer has left the area, nothing is really depressing our market with the possible exception that there has been some effect from rising interest rates. More on that in a bit.
What has changed is that there may have been some of those negative market factors in areas from which our buyers come. Fewer of those buyers can sell their homes or those that do realize a lower gain. That translates into fewer buyers for us. Fewer buyers equal lower prices. But, there are still plenty of buyers. Since most of those buyers were just sellers, they have adjusted to the new market. Based on data from sales this year, prices in our area are running about 10% to 20% lower than where they were 18 months ago. For those sellers that have adjusted to that reality a successful outcome is the result.
Now a word about interest rates. The Federal Reserve raised interest rates to stave off inflation. They probably could have left things alone, the spike in oil prices took care of inflation. But they can't help themselves, they're regulators, they need to regulate. At present the consumer price index inflation rate has declined to 2.1%. and the personal consumption expenditure (PCE) core price index has declined to 2.3%. Combine this with a slowdown in the housing market and the Feds should be looking to at least slightly lower rates in the near future. This should be all the impetus needed to get markets to our south moving a little faster. Albeit at an adjusted price level.
So, to summarize, this is a good time to sell, as long as you didn't buy in the last 2 or 3 years. If you bought before then and assuming you were prudent at that time, you'll do OK now. Don't compare your home to what your neighbors home sold for 2 years ago, even though yours is nicer. If you're a buyer, this is a great time to buy, there's plenty of inventory from which to choose. The buyers that get frustrated are those that expect deeper discounts than what the market has adjusted to.
If you're thinking of buying or selling in the Mid Coast, please feel free to call any of our brokers or myself and we'll be glad to discuss this with you at length.
Now, to be really serious, Field and I have a disagreement. He's trying to tell me that Curly was the most important of the Stooges. Of course he's wrong, Moe was the key guy. Without Moe, the whole thing doesn't work. Curly was replaced, Moe never was. What do you think?
It is 5:30 AM on a Saturday morning in Damariscotta, it is a few degrees below freezing and the streets are full of crazy people with shopping bags. What is wrong with these folks? I have to admit that at 5:30 this morning I opened one eye, glanced at the clock, rolled over and went back to sleep so my information is second hand and these pictures weren't taken until after 9 when the crowd had thinned out. But from what I hear there was hardly a parking spot to be found and people were lined up and waiting to get into stores in Damariscotta and Newcastle.
I'm sorry, but you couldn't discount a new couch or television set enough for me to get into town at 5:30 in the morning. It's November people, it's dark and it's cold at that hour.
OK it is a festive atmosphere, there are discounts of 50% or more in some stores, you're friends and neighbors are fund raising for the Damariscotta River Association or the Damariscotta-Newcastle Rotary Club or a local charity, your favorite candidate for Maine House or Senate is handing out hot coffee and scones, but is this really necessary? Isn't 5:30 a little uncivilized? Couldn't we do this at another time?
I'm proposing we do this at 9 PM on a Saturday night. Then, instead of coffee and donuts it could be Irish Coffee and...whatever goes with Irish Coffee. Or a Sheepscot Ale and whatever you want because everything goes with a Sheepscot Ale.
If we can make this happen I will personally talk to the powers that be here at Newcastle Square Realty and see if we can't offer discounts on our inventory! How about 10% off on all waterfront property! 20% for intown. Buy 3 acres we throw in another acre. I don't know why nobody else ever thought of this. Who do I talk to?
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