Fall
e - n e w s l e t t e r November 2017 | Vol. 48
Volume 48 - November 2017 Issue Written by: Chris Lynch
Designed by: Dana Whitney
Edited by: Chris Fortunato
Graphics by: Dana Whitney
As the leader in luxury Maine Real Estate, Legacy Properties So
exposure. Our 75 plus licensed real e
Featured Listing $1,950,000 220 Mill Street, Rockport MLS 1323905
With more than 3,500 miles of Atlantic oceanfront, 6,000 lakes and po International Realty is uniqu
Cover Featured Listing $1,965,000 280 Sea Meadows Lane, Yarmouth MLS 1303495
Maine
otheby’s International Realty offers an unmatched blend of local expertise, world-class home marketing power and property estate agents specialize in Maine Coastal Real Estate, and are proud to represent distinctive properties at all prices in Maine.
onds, and the Western Mountains (including world class skiing at Sugarloaf and Sunday River), Legacy Properties Sotheby’s uely positioned to help you find your dream home in Maine. Simply put, we have the premier portfolio of Maine Real Estate.
The 7th Inning - Maine Real Estate It was nearly three years ago that many who follow the technical and fundamental aspects of the national real estate market were growing concerned that the recovery in most of the country was surprisingly quick and quite strong. There were questions about the sustainability of the recovery on an absolute basis and little doubt that the relative gains in both Unit Volume and Sold Price were going to moderate. The description that I heard emerging was that “we are in the 7th inning of the real estate recovery.” Fast forward to the fall of 2017 and I am still hearing experts leaning on the “7th inning” baseball analogy. In my mind, I wonder how much longer the 7th inning can last and whether or not this is reflective of our Maine experience. When one looks at the Maine real estate market, we must recognize that it does not share the characteristics of high population, more transient states. While Maine may not enjoy the highest highs of a market rally, it is somewhat insulated from the bursting bubble and steep declines on the way down. Maine does not have widespread new development leading to overdevelopment, nor does it have an ongoing supply/demand imbalance. The underlying statistics tell a satisfying story that bodes well for a long “7th inning stretch”, if in fact we are even that deep into the recovery.
10,000
15,000
20,000
Unit Volume Growth
2012 2013 2014 2015 2016
Post crash, the Maine market began its recovery in 2011 on the Unit Volume side, but it was not until 2012 that the Maine Association of Realtors reported both Unit Volume and Median Sale Price improvements for the full year. Unit Volume in 2012 had grown by more than 17% from 2011 which was more a reflection of weak prior performance than “irrational exuberance” on the part of the home buyer. The Median Sold Price only improved by 3% during that same period to $170,000 from $165,000. For the past nearly 6 full years, Maine has enjoyed solid annual Unit Volume growth ranging from 8% to more than 13% despite stubborn price performance until very recently.
With no sign of declining prices, Median Sold Prices rose modestly from 2011 through 2014 (6% total) and only a bit (3%) stronger in 2015 versus 2014. With a proven price base in place, the Greater Portland Area has lead a recent sharp rise in Maine’s Median Sold Price which experienced a statewide gain of 7.25% in 2016 followed by an expected strong result for 2017. We are keenly aware that our real estate markets are both cyclical and seasonal.
Median Sold Price
2012
2013
2014
2015
2016
2017* *=September MSP
It is our belief that there has been a structural change in the way Maine is perceived by the outside world. We have enjoyed accolades and global recognition for the Maine lifestyle with its amazing beaches, lakes, mountains, restaurants, galleries, hotels and cultural amenities. There has been a tangible change in the regional, national and international engagement by visitors, newcomers and prospective residents that leads us to believe that Maine real estate may only be in the 4th inning of a long and sustainable growth market for some of the best values on the Eastern seaboard and beyond. We look forward to seeing you soon!
Source: Maine Real Estate Information Systems, Inc. (d/b/a Maine Listings). Note: Maine Listings, a subsidiary of the Maine Association of REALTORS, is a statewide Multiple Listing Service with over 4,200 licensees inputting active and sold property listing data. Statistics reflect properties reported as sold in the system within the time periods indicated.
LIVE Maine
With more than 3,500 miles of Atlantic oceanfront, 6,000 lakes and ponds, and mountains with world-class skiing, Legacy Properties Sotheby’s International Realty is uniquely positioned to help you find your dream home in Maine. Simply put, we have the premier portfolio of Maine real estate and waterfront properties for sale.
LEGACY COLLECTION Our exclusive, multi-page property books distributed with Maine Home + Design, Down East, and in select areas, the Wall Street Journal. As many as 84 pages distributed in up to 85,000 subscriptions.
To receive a copy, either in print or electronically, please email collection@legacysir.com.
Cape Elizabeth
Biddeford
First offering of one of Maine’s premier oceanfront estates. Located on the rocky shores of Cape Elizabeth, this 21st century home is one of the largest waterfront properties on the coast. Built with architecturally distinguished museum quality appointments, this magnificent home has it all: 16+ generously proportioned rooms with elegant flow, a private beach, separate four bedroom guest house, pool, tennis court & much more - all on 600+ feet of bold Atlantic frontage.
Oceanfront estate, perfect for the yachtsman. 2000' of water frontage, deep-water dock, boat slip, and boat house. All this plus 4+ acres of privacy, a main and a guest house. Located on Fort Hill at the southernmost tip of the Hills Beach Peninsula, this property is surrounded by water on three sides. Breathtaking views of water, boats, sunrises and sunsets as well as Wood Island Light. House your 40' boat in your own boat house on the property.
MLS 1299737 | $11,000,000
MLS 1315882 | $5,500,000
Anne Bosworth 207.233.3175
Chris Stone 207.590.3425
Cumberland Foreside
Islesboro
Located just 15 min. from downtown Portland, this 5Br/4ba, open concept contemporary is thoughtfully designed to incorporate exceptional water views from every room. Inviting entertainment spaces on all levels including a covered patio w/ gas fireplace that flows into another terrace which leads to an in-ground pool with pool bar. Boasting 312' of oceanfront, accessible from a large private dock featuring a beautiful boathouse equipped with a kitchenette.
This sprawling Dark Harbor property includes a year-round one-floor living primary residence, two charming cottages set at the waters edge, and a spacious garage/boathouse. There is plenty of room for expansion on the property’s sprawling 4.2± acre parcel with 380’± of accessible shoreline. Commanding views east and west to the mainland, islands and open ocean. Offered fully furnished. Rental history.
MLS 1314676 | $2,950,000
MLS 1324178 | $2,750,000
Liam McCoy 207.712.6860
Michael Lynch 207.558.3131
Georgetown
Wells
Spacious 4 bedroom, 4.5 bathroom home in dramatic, bold ocean setting including 2 story heated barn with artist studio, workshop and 3 bays. First floor private bedroom wing, great room with fireplace, library, ocean front sun room and spectacular kitchen all with exceptional wood finishes. Includes a rare engineered, oceanfront dock, privacy and famous Reid State Park at your doorstep.
SANDCASTLE is a classic Maine cottage with 75 feet of sandy waterfront at wonderful Wells Beach. A massive seaside terrace offers space for sunbathing and entertaining. 5 plus bedrooms, wrap-around porch, generous parking and two 2-bedroom apartments for rental income. It all makes for lasting Summer memories at the seashore.
MLS 1286150 | $2,700.000
MLS 1327194 | $2,595,000
Joane Tait 207.751.4124
Bill Gaynor 207.468.3002
Cape Elizabeth
Kennebunk
Custom built Shingle-style Wright-Ryan home. Commanding Southern and Eastern exposure fills the home with light and color. This luxurious private retreat is expertly situated to capture the views and sunrise from almost every room. High quality appointments are noted throughout and the open floor plan make this perfect for entertaining. The near one acre property contains beautifully landscaped grounds and an in-ground heated pool.
Graciously situated overlooking Mother’s Beach, Lord’s Point and Strawberry Island, this stunning Bowley built home has ocean views from nearly every room! Fabulous 5BR, 3BA home with custom kitchen, vaulted ceiling, beautiful gardens, 2-car garage, irrigation, security & so much more. Steps from golf, tennis & the beach!
MLS 1329991 | $2.500.000
MLS 1318669 | $2,300,000
Anne Bosworth 207.233.3175
Betsy Coughlan 207.229.3661
South Bristol
Southport
On the Damariscotta River with fantastic deepwater frontage, dock and mooring. 4000sf of living space w/ 3 en-suite guestrooms, en-suite master with fireplace, family room w/fireplace, dining room, livingroom w/fireplace and awesome eat-in kitchen w/ granite counters, two islands and cherry cabinets. Each level has a walkout deck, porch or balcony. Red birch flooring. Att’d 2-car garage & separate carriage house.
West-facing and high above Ebenecook Harbor sits this contemporary post-and-beam home. Deepwater dock and 380' of waterfront on about 5 acres. Open-concept living with an impressive stone fireplace, gourmet kitchen, and radiant heat Second-floor master with separate bathroom, shower, and laundry. The third floor aerie is an office with expansive views. Outdoor terraces for entertaining or just relaxing.
MLS 1326056 | $2,000,000
MLS 1325979 | $2,000,000
Miles Geisler 207.380.6007 Muffy Miles 207.380.7876
Dennis Gleason 207.446.6394 Linda Painter 207.592.3214
Addison
Cranberry Isles
POETS LODGE is a beautiful, private family compound located on a peninsula with 3 homes built on the rugged granite cliffs of Maine’s coast. The guest cottage has 3BR/2bath and the 2BR/1.5 bath apartment is built over a 4bay heated garage that also has an additional 1/2 bath. Balconies & decks provide views that will take your breath away! 34 acres, 1/2 mile of waterfront, and deep water dock
Located on Bunker Neck, Islesford this 4-bedroom, 2 1/2-bath Shingle-style cottage has been in the same family for three generations. The 6.1 +/- acre property boasts 1,240 '+/- of deep water frontage on a secluded point with commanding views of Mount Desert Island and the Mountains of Acadia National Park. There is a sleeping cabin and a one-car garage. Bunker Head is considered one of the most desirable properties on Islesford.
MLS 1304697 | $1,995,000
MLS 1282699 | $1,950,000
Charlene Hamiwka 207.671.0085
Jan Moore 207.266.0441
Camden
Mount Desert
44 High rests on Camden’s most beautiful street, in the Historic District, exquisitely sited to provide privacy, yet three blocks from the center of town. Skilled craftsmanship and attention to detail are evident throughout this impeccable property.
Privacy in a pastoral setting, yet close to the village center, Oak Hill Farm has so much to offer - a elegant custom-built house on 37+ acres with solid copper roof, hardwood floors, 2-story granite fireplace, 4 bedrooms, 3.5 bathrooms, stone patio, 3-car garage, four paddocks, a post and beam four-stall horse barn, and so many custom features. An idyllic setting for those with or without horses, with room to roam, garden, watch the bird and animal life or just relax.
MLS 1311976 | $1,649,000
MLS 1314948 | $1,499,000
Kate Jackson 207.691.3684
Carroll Fernald 207.266.1540
Woolwich
Kittery Point
Approach this stately custom-built home via a tree lined drive and arrive at your own private peninsula on Brookings Bay. Soaring ceilings and wall-to-wall windows are a haven for gazing at the Bay and the sprawling entertaining spaces flow outside for year round enjoyment. A masterpiece of design and craftsmanship featuring a gourmet kitchen, formal dining and living rooms with captivating gardens and landscaping.
This striking waterfront home has everything— including a dock & elevator. This unique and thoughtfully designed home evokes thoughts of the coast with its lighthouse-like turret. Granite, marble and travertine stonework (inside and out), high ceilings, cherry floors, a curved staircase and a luxurious master bath with both a steam shower and jetted tub. Large, detached and fully applianced guest house or legal rental unit. ChaunceyCreek.info
MLS 1282699 | $1,450,000
MLS 1324682 | $1,225,000
Patti Lawton 207.522.1444
Ginny Whitney 207.451.3093
St. George
Kennebunk
Pumpkin Point is a 2.93 acre waterfront bump out. Picturesque views of Seal Cove, Spruce Head, Norton and Whitehead Islands onto Muscle Ridge. Granite outcroppings, patches of sand beaches for swimming or sunning, partial cove,dock for deep water events.
Stunningly restored Captain Charles Thompson House is an amazing blend of modern convenience and historic charm. Completely renovated and restored in 2006 from basement to attic, this home offers all modern utilities including central air, 7-zone double furnace heat system and all new plumbing and electric. With 5 spacious bedrooms, 2 full and 3 half baths, there is plenty of room for family and guests. Incredible chef ’s kitchen.
MLS 1324983 | $1.200,000
MLS 1300530 | $1,150,000
Peter van der Kieft 207.592.9366
Maureen Weaver 610.322.5832
Yarmouth
Woolwich
Originally The Main House to the historic Homewood Village Inn, this gracious antique has been lovingly renovated with updated plumbing, heating & wiring, a stunning gourmet kit, BAs, 1st & 2nd floor master suites, spacious FR, and large home office.The home’s historical integrity was painstakingly maintained. Offering water views and access to assoc. deepwater dock, pool, and Lodge and adjacent to Town trails, this home encourages an active lifestyle.
Located in the prestigious Orchard Shores area of Woolwich is this high quality contemporary style cape. The property consists of a 4,200 s.f. residence on 1.9 acres with 254’ of waterfront that is navigable to open ocean. Easily accessible common dock area. Separate outbuilding with garage/studio/guest cottage space. Beautifully landscaped and in truly move in condition.
MLS 1298015 | $1,025,000
MLS 1309118 | $995,000
Elise Kiely 207.838.1050
Dennis Duggan 207.522.3747
Phippsburg
Bristol
Renovated 5 bedroom beachfront residence featuring soaring ceilings and open concept floor plan. Unobstructed panoramic views of the beach, ocean and Seguin & Pond lighthouses at renowned Popham Beach and ideal beach access. The Driftwood neighborhood also includes a number of smaller beachfront cottages available for sale. DriftwoodMaine.com
Lovely contemporary home with a wide angle unobstructed ocean view to the west and an open floor plan for comfortable modern living. Spacious feeling. Lg kitchen w/generous work space and island. Adjacent den offers informal relaxation. Dining and living rooms accommodate a crowd. All bedrooms ensuite. Convenient1st flr guest BR, very lg 2nd flr BR, and master overlooking the ocean. Deck and balcony.
MLS 1322723 | $995,000
MLS 1317198 | $935,000
Jonathan Leahy 207.798.2428
Kathy Leeman 207.504.6866
Bristol
Breathtaking sunset views across Johns Bay and to the outer islands. A sand beach and tidal pools at low tide, a very private 4-bedroom year round home at shore’s edge, and a boathouse with rustic 3-bedroom apartment upstairs. Panoramic views across Johns Bay and out to the islands. Excellent rental histories for both buildings. Sit on the patio and watch the activity on the bay or walk down the steps to the beach and collect sea glass. MLS 1302114 | $895,000 Thomas Field 207.215.6455
Northport
This waterfront property consists of a newly rebuilt main cottage with two bedrooms, completely new systems, kitchen, baths, flooring, windows, deck - an engineering marvel on the shore of Penobscot Bay. A second seasonal Maine cottage with 2 bedrooms is part of this wonderful property.
MLS 1328823 | $795,000 George Wheelwright 207.249.9626 Jackie Wheelwright 207.449.9442
Cumberland
Boothbay
In the heart of Cumberland Center, this classic Maine estate offers a gracious Colonial on over nine private acres accessed by a winding driveway through rolling fields & pastoral meadows. This grand home boasts an openconcept kitchen/family room, large living room w/stunning built-ins, dining room, study, first or second floor office space, 5 bedrooms & bonus room. A manicured yard w/built in pool, pool house, beautiful gardens & fruit trees.
Unique property with historic significance, 3BR main house formerly a dance hall, original stage, hardwood floors & character preserved. Protected private dock & float on Damariscotta River with access to open ocean. Second floor separate rental with water view balcony, plus 4 separate 2BR 1.5BA apartments producing income of approx $45,000. 40 +/- acre wooded lot with private pond. Ideal development potential. Priced below assessed value.
MLS 1319132 | $749,000
MLS 1268300 | $749,000
Linda MacDonald 207.749.1215
John McCarthy 207.522.3638
Monhegan
Kennebunk
Fantastic opportunity to own an island home off the coast of Maine. Known for its artists community, Monhegan Island is the ultimate retreat. Property features elevated views out over the harbor towards Manana Island from its large deck. A large, open living space is great for family gatherings. Property has a great rental history May through October.
Walk to town from this historic district home. Well maintained & updated with exceptional quality craftsmanship. Enter through a parklike front yard into a gracious foyer. The home maintains much of its original architecture with updated kitchens & baths, new wood flooring & a three-season porch which brings into the home generous sunlight. Within its 3188sf of finished living space is the main house with 4BRs & 3BAs, & an apartment with 1 BR & 1BA . 2-car garage.
MLS 1323933 | $625,000
MLS 1328622 | $599,000
Aaron Crossman 207.322.6638
Mary Jean Labbe 207.337.3661
market
Trends
• • • • •
Interested in a specific area? Wondering how many homes are for sale in a specific town? Curious about average prices of homes for sale? How long does an average 3-bedroom house spend on the market before selling? You can find all this and more on LegacySIR.com. Just go to the Market Trends menu option and select a town.
SUSAN DESGROSSEILLIERS 207.975.4304 susand@legacysir.com CAMDEN office
Featured Listing $1,595,000 1505 & 1512 Newbury Neck Road, Surry MLS 1313514
rentals
Legacy Properties Sotheby’s International Realty represents the most exceptional luxury rental homes in all of Maine. After a banner 2017 season, we are seeing incredible demand from guests for Summer 2018. Hence we are looking for outstanding new properties to add to our portfolio of available rental homes. Our property owners are afforded: • Extraordinary local presence, combined with regional, national, and international marketing platforms to change the way Maine luxury lifestyle properties are presented for rent. • Access to the most highly qualified tenants from across the world. • Peace of mind, with us handling all of the pertinent details such as marketing via numerous online channels, drafting leases, collecting and distributing payments, remitting taxes, and scheduling cleanings and weekend changeovers. Whether you are interested in renting your home for one to ten weeks in the summer or long term throughout the year, we are happy to discuss all available options. Visit us at legacysir.com/rentals to view our extraordinary luxury rental portfolio or contact Scott E. Dobos, Director of Rental Operations at rentals@legacysir.com or 207.370.5479 for more information.
R EN T A L
R EN T A L
KENNEBUNK - Directly across from the Bush Compound this property sits on 60 wooded acres. Vaulted 30' plus ceilings, a wall of glass with views of the ocean and the incredible two level terrace patio with an infinity pool and hot tub. An elevator, central air conditioning. Fully equipped fitness center, game room of epic proportions, and a mini theater setup. Guesthouse with 2BRs, 1.5BA, kitchen, dining, and living room. Tennis Cabana and more.
LOVELL - Over 400' of water frontage, dock with adirondack chairs for the views and kayaks. Share the beach, basketball court, tennis court, shuffleboard court and you have yourself a perfect retreat. 6BRs & 6.5BAs in the house that enjoys views of the White Mountains over Kezar Lake, simply magnificent. Central AC in the warm months, fireplaces and multi-zone radiant/baseboard heating in the cold months. Steam shower in master bathroom w/jetted tub.
Booking for winter, spring and Summer 2018
Booking for fall 2017, spring & summer 2018
Scott Dobos 207.370.5479
Scott Dobos 207.370.5479
R EN T A L
R EN T A L
freeport - Designed by Netherlands Based Katrien Koppers Architectuur with a minimalist feel, yet an incredibly high end finish, this home is spacious though cozy sleeping six to twelve, easily comfortable up to eighteen and, with adjustments, has already slept over twenty for a memorable family reunion. Wrap-around deck and windows filling all vantage points facing the salt water bay of this ocean side property. Central air conditioning throughout.
PEAKS ISLAND, PORTLAND - With almost 2000 square feet of outdoor deck space and even more than that for interior living space, you’ll have plenty of space to bring your family to this Peaks Island Oasis. With a custom built spiral staircase, big enough to walk side by side, enjoy all three floors with increasingly beautiful views for each floor. Kitchen outfitted with Frigidare Gallery appliances, beautiful glass table with seating up to 10 people.
Booking for fall, winter, spring, summer 2018
Booking for summer 2018
Scott Dobos 207.370.5479
Scott Dobos 207.370.5479
R EN T A L
R EN T A L
PHIPPSBURG - On 5 wooded acres with expansive views of the mouth of the Kennebec River, leading out into the Atlantic Ocean. Main House, with 4BRs with water views, large heated salt water pool, new 7-person hot tub. Also, the Lodge, includes a full kitchen, living room, dining room, master BR, full bath, and a perch with trundle beds. Finally, the Bunkhouse, with two sets of wooden bunkbeds on the first floor and a master BR on the second floor & full BA.
BOWDOINHAM - An incredibly furnished and updated post and beam home on the water. Western view sunsets to enjoy every evening. Expansive water views to enjoy on your private deck off the master bedroom, the large patio area, or on the 40' dock. Deep water access, 35' low tide allows for a 70' vessel. The wildlife is impressive with so much frontage - fish off the dock, or watch for eagles and osprey. Never a dull moment on the Abbot Cove shorefront.
Booking January 3rd - through end of 2018
Booking for spring and summer 2018
Scott Dobos 207.370.5479
Scott Dobos 207.370.5479
SOCIAL MEDIA
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At Legacy Properties Sotheby’s International RealtyŽ, we use social media to connect your home to our vast community of real estate intenders and influencers from across the globe. Social Media, like real estate, is about connecting people and cultivating relationships, which makes it the ideal tool for marketing your home.
worldwide 2 6 5 M I L L ION TI M ES ACROSS
A L L O F OUR PARTNER SITES
ANNUA L L Y
a new dimension Welcome to the always-open Open House. Our immersive 3D Showcase is unlike any other virtual tour for real estate. They are the most realistic and comprehensive way to experience a property online.
3D Showcase provides the most realistic sense of actually walking through a property online. Home buyers will create an immediate, lasting emotional connection to properties because they can experience it as if they were really there. There are many benefits to 3D Virtual Tours for both property buyers and sellers: • • • • •
The most comprehensive digital tool available to showcase your home for sale Provides prospective buyers a chance to be better informed both before and after a showing Best way to share a home with friends, family and advisors not able to be present for showings Reduces the number of showings scheduled for non-serious/uninterested buyer Provides floor plan information allowing builders, architects and designers to be more efficient
Our brand’s referral program helps enhance revenue potential for both real estate and auction consignments by connecting our network members all around the world. From broker-to-broker to auction-to-broker to broker-to-auction referrals, these opportunities are managed with extreme care to ensure white-glove service.
Portland Office 2 City Center, Portland, Maine 04101 207.780.9800
Kennebunk Office
150 Port Road, Kennebunk, Maine 04043 207.967.0934
Table of Contents
Brunswick Office
Written by: Chris Lynch
141 Maine Street Brunswick, Maine 04011 207.729.2820
Volume 41 - November 2014 Issue
Legacy Properties Sotheby’s International Realty
Edited by: Five Offices Covering the first Chris Fortunato 1,500 miles of Maine Coastline
Damariscotta Office 170 Main Street Damariscotta, Maine 04543 207.532.2775
Camden Office
46 Bay View Street, Camden, Maine 04843 207.230.1003
info@legacysir.com legacysir.com
Featured Listing $1,750,000 8 Dane Lane, North Belgrade MLS 1326333