Real Estate Articles
Mount Washington Valley real estate
Despite what you have heard about the slumping real estate market and the bubble bursting, let me assure you that there is still an actvie market for Mount Washington Valley real estate and Western Maine real estate. Prices have softened a little in most segments of our market as the trend of upwardly spiraling prices had to correct at some point in time. The good news is: interest rates are still at historically reasonable levels and the economy is strong. Also personal income continues to rise nationwide.
Although activity levels have not equaled those of 2005, 2006 was the second most active year in Nort Conway real estate history. In this corrected market we continue to see an influx of baby boomers and vacation buyer prospects from the northeast corridor. The demo-graphics indicate a continuation of these trends. Thank goodness there many people who are learning what we already know; "the Valley is a great place to live and vacation".
As far as what will happen in 2007 and beyond, I wish my crystal ball was clear enough to make a prediction. What I am confident in is that property values are still stronger than they were in 2004, and that 2007 will continue to see sales of properties which are accurately priced in the marketplace. For any of us who have owned our property for more than a couple of years, we have seen substantial gains in its value.
If you have had a long term strategy for maximizing the value of your real estate investment, this is still an opportune time to take advantage of the annual double digit rise in property values each year between 2002 and 2005. We have never experienced such a sustained rise in value over this long a period of time. If you are considering offering your property for sale this year, I would be happy to provide you with an updated market analysis (no cost to you) that would provide you with a realistic value. That way you would be able to make an informed decision whether this is an appropriate time to move forward with marketing your property.
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