Maine Real Estate News

There is some relief for homebuyers trying to close home purchase contracts by June 30th.

The Senate agreed today to extend the closing date for buyers who had put homes under contract by 4/30/2010. Initially the closing date needed to be 6/30/10. The primary reason for the extension is the large numbers of short sale transactions.

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We have been providing online real estate services in southern Maine since 2003 and our personal website, MaineHomeConnection, has been and continues to be one of the leading real estate sites in the area.
This blog dates back several years as well.
Recently we have introduced a new blog attached to our website. This new […]

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We have just published our May 2010 Newsletter.

In addition to several excellent properties we are featuring, you will find some interesting stories about how homebuilders across the nation are viewing today’s economy.

There is also some great news about Portland’s cruise ship schedule for this some and some suggestions regarding online privacy.

The Maine real estate market has shown signs of improvement during the first quarter of 2010, and the latest statistics are included as well. Home sales are up and pricing has shown some signs of improvement.

Our Newsletter is published each month and you can view a complete archive of past issues, along with other videos and articles, on our website.

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This Sunday, May 16th, is Maine Open House Day.

For one day only over 500 properties throughout the state of Maine will be open to the public. Details of what properties can be viewed are easily accessed online at Maine Open House.

During this all day event not only will you be able to visit many beautiful homes, visitors will be able to enter a drawing for roundtrip airfare and 2 night hotel accommodations for several great destinations.

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Oil tankers are a common site in Casco Bay, and for good reason. The Portland area is a major hub for oil shipments that can trace its history back to World War II. In 1941 a pipeline was built between Montreal and Portland that still is in service today. It begins with oil being delivered by tanker ships to marine terminals in South Portland.

The facility includes 23 oil tanks and a capacity of 3.5 million barrels of crude oil. The oil is then pumped through two separate pipelines which cross the mountains of New Hampshire and Vermont and eventually extend to Montreal.

Portland Harbor Oil Tankers Unloading

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Our April Newsletter has just been published. It features articles aimed at understanding how consumers feel about the government’s role in making modifications to homeowners mortgages currently in default.

Also interesting is a video on some of the newest technology that simulates a virtual reality. Have you ever heard of g-Speak Spatial Operating Environment?

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Fannie Mae has recently completed a study of consumer attitudes towards mortgage defaults and home ownership and the results are surprising.

This is the first large scale study conducted by Fannie Mae in the last seven years. Although consumer belief that home ownership is a safe investment has dropped, currently 73% of respondents believe home prices have bottomed out.

View Video

Watch this short three minute video from CNBC prepared by The Kudlow Report.

The most interesting results are how people feel regarding who is “responsible” for “bad” mortgages and attitudes towards personal decisions to walk-away from home loans.

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Ever wonder what a home on your street sold for? It is a question we hear often - but now you can get the data yourself online at our website.

Just visit Maine Home Sales and you can access historical sales information for up to one year, for all types of property - homes, condos, land, multi-families and commercial. Data is available by street and price range.

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Some good news on the economic front for Maine. According to statistics released by the US Bureau of Economic Analysis, per capita income in Maine increased 1% in 2009.

Although this result on the surface may appear small, most other states in New England experienced declines.

Per Capita Income By State

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The ferries that service Casco Bay have a long and interesting history. According to company records, they began sailing among the islands in either 1870 or 1871. But it wasn’t until 1878 that permanent year-round service was available. At that time the company was know as Casco Bay Steamboat Company.

Portland Harbor

In 1881 another year-round company, the Harpswell Line, was formed to provide service to the outer islands as far as Bailey and Orrs Islands. In 1907, after a series of financial troubles, the two companies combined to form the Casco Bay and Harpswell Steamboat Company.

The company changed again in or around 1920 when Casco Bay Lines was created following the closing of the previous operation due to mounting repair bills associated with its wooden ships. The company again went bankrupt in 1981.

In 1963 the Maine Public Utilities Commission granted franchise protection to Casco Bay Lines to ensure daily year-round regulated transportation.

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