Is It True?

Fall

E - N E W S L E T T E R October 2020 | Vol. 52

VIRTUAL OPEN HOUSES Welcome to the always-open house. Our immersive Matterport 3D Virtual Tours transport you into the finest selection of Maine Luxury Properties and let you explore like never before. Use Dollhouse view to see a whole property at once, switch to floorplan view for a traditional top-down perspective, or walk through like you’re there in person. Our Matterport 3D Virtual Tours are unlike any other real estate virtual tours.

They are the most realistic, cutting edge, and comprehensive way to experience a property online. Click on any of the thumbnail images below to experience the Maine Lifestyle from the comfort of your own home.

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.

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MAINE

As the leader in luxury Maine Real Estate, Legacy Properties Sotheby’s International Realty offers an unmatched blend o

exposure. Our 90 plus licensed real estate agents specialize in Maine Coastal Real Estate, and are proud to represent distinc

With more than 3,500 miles of Atlantic oceanfront, 6,000 lakes and ponds, and the Western Mountains (including world cl International Realty is uniquely positioned to help you find your dream home in Maine. Simply put, we have the premier p

Volume 52 - October 2020 Issue Editorial by: Chris Lynch

Designed by: Dana Whitney

Edited by: Chris Fortunato

Graphics by: Dana Whitney

of local expertise, world-class home marketing power and property ctive properties at all prices in Maine.

lass skiing at Sugarloaf and Sunday River), Legacy Properties Sotheby’s portfolio of Maine Real Estate.

FEATURED LISTING (ALSO ON COVER) $8,500,000 135 MOUNTAIN ARROW DRIVE, CAMDEN

IS IT TRUE? – MAINE REAL ESTATE

Maine is typically the last in line when it comes to experiencing most national and regional fads and trends. In fact, by the time some national trends finally make it to Maine, they have already faded out of sight, leaving nearly a ripple of change here. Maine is a small state in terms of population, with approximately 1.35 million people, but it also commands the feeling of unlimited open space for growth and recreation, with miles and miles of bold Atlantic coastline and more than 6,000 lakes and ponds. Yet, Maine’s growth has always been tempered by its infamous reputation for long winters. Is it true that Maine’s reputation of desirability, livability, and accessibility has moved beyond its “Vacationland” status?

Having moved to Maine nearly 20 years ago with a young family after leaving a career on Wall Street, I can share personal insights that transcend any New York Times article touting the summer and leaf peeping lifestyle opportunities that exist in today’s Maine.

Since the day we moved, I have learned that “people live in Maine because they can, not because they have to.” This sentiment has never been more apparent than it is today with the current changes we have experienced in 2020.

Is it true that the Maine real estate market is hotter than ever before?

There is no doubt that Maine has become a highly desirable destination for many more people from many more places. It is also evident that it has transcended its reputation as a “summer vacation only” destination.

Is it true that listing inventory is limited and prices are rising?

The answer to both of these questions is yes. There are currently 4,700 homes actively listed for sale in the Maine MLS which compares to more than 5,500 active Realtors®.

Historically, inventory would be more than double or even triple the current level at this time of year. As a result, median home sale prices have improved nearly 20% versus this time last year, according to the Maine Association of Realtors.

Is it true that limited inventory and higher prices are exclusively in Portland and Maine’s coastal communities?

It is not true! We are experiencing broad demand throughout the state. While lake properties and oceanfront communities remain very strong, the demand is also quite strong for ski homes, snowmobile access, hunting and fishing camps, rural locations, and large tracts of raw land. With more prospective buyers working from home, buyers’ ability and desire to replace commuting time with outdoor passions has exploded in a place that is rich with easy access to some of the country’s most incredible natural resources.

Is it true that certain property types/locations have become more desirable?

There is little doubt that we are experiencing a reversal in the downsizing trend of the past two decades. Buyers are looking for more square footage, bonus space for one or two home offices, and an extra bedroom or two for unexpected guests. Despite Maine’s reputation as a place to escape the hustle and bustle of city and suburban life, cellular service and high-speed internet availability have become essential parts of long-term rentals and home ownership.

With more people making the plunge into full-time Maine residency, towns with strong public school systems and/or access to private schooling have fueled a pool of new, highly motivated buyers seeking in-person schooling for their children.

Is it true that it is impossible to buy a home in Maine now?

It is certainly possible to buy a home in Maine now! My company has nearly 300 transaction sides “under contract” at the moment, which is an all-time record. We will have sold more homes this year than ever before and there is little sign of a slowdown in the foreseeable future. That said, Maine real estate typically has a seasonal slowdown between Thanksgiving and Valentine’s Day, which should offer motivated buyers the opportunity to participate in the market with less competition for the best new listings.

At the risk of sounding self-serving, it has never been more important for a buyer to have a buyer agent who is “on it” all the time to ensure quick property identification, ready access, and insightful value assessment for your benefit. While it sounds like real estate brokerage 101, it is the key to ensuring a buyer’s success. It is nearly impossible for a buyer solely with access to outdated and inaccurate real estate internet sites to have the necessary tools for success.

Is it true that all of this is really true?

Yes! We hope to see you in Maine soon, Chris

President/Owner Legacy Properties Sotheby’s International Realty

Source: Maine Real Estate Information Systems, Inc. (d/b/a Maine Listings).

for all homes sold over $1,000,000 in Maine for all homes sold over $700,000 in Maine for all homes sold over $500,000 in Maine for waterfront sales in Maine

Legacy Properties Sotheby’s International Realty attributes its success to offering its clients a very strong package of marketing services including: professional photography, 3D Virtual Tours, glossy print advertising, global property distribution through its exclusive network of agents, and luxury branding through its affiliation with Sotheby’s International Realty.

*Based on information from the Maine Real Estate Information System, Inc. (d/b/a Maine Listings) for the period 1/1/2020 through 9/4/2020

ASHLEY O’NEIL

EMILIE SOMMER

JOANNE MOORE

aoneil@legacysir.com

esommer@legacysir.com

joannemoore@legacysir.com

KENNEBUNK OFFICE

PORTLAND OFFICE

DAMARISCOTTA OFFICE

203.219.1421

207.400.2071

207.350.5172

LEGACY COLLECTION Our exclusive, multi-page property books distributed with Maine Home + Design and Down East Magazine, and in select areas to The Wall Street Journal,The Boston Globe, targeted local newspapers, as well as boutique inns/hotels. As many as 84 pages are distributed to 85,000 subscriptions.

To receive a copy, either in print or electronically, please email collection@legacysir.com.

HOME VALUATIONS FROM RELIABLE SOURCES What are home value estimates?

An automated valuation model (AVM) is a computer-driven mathematical model that uses basic property characteristics, local market information, and price trends to produce a home value estimate.

Our high-quality home valuation estimates are sourced directly from multiple independent AVM providers and are used and trusted by the lending industry.

Visit legacysir.com to discover your home’s value.

THRIVING IN A VIRTUAL WORLD We can show your home virtually using Matterport 3D Virtual Tours, videos, and other media.

Offers and transactions can seamlessly be handled virtually.

Negotiations and closing paperwork can be handled electronically.

Buyer activity is strong.

Now is the time to list your home.

LIVE ME & NH

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 & Seacoast NH real estate.

1 Company - 5 Offices - 90 Agents - Endless Possibilities

FEATURED LISTINGS

135 Mountain Arrow Drive, Camden | $8,500,000 Brian Wickenden 207.975.9650

1172 Shore Road, Cape Elizabeth | $7,950,000 Anne Bosworth 207.233.3175

8 Wheelwright Way, Mount Desert | $7,400,000 Abigail Curless 207.801.1199

686 Whites Bridge Road, Standish | $3,900,000 Tammy Ruda 207.831.3164

FEATURED LISTINGS

26 Harbor Road, Camden | $3,390,000 Heidi Steele 207.542.4316

287 Island Beach Road, Wells | $2,940,000 Betsy Coughlan 207.229.3661

On Morgan Bay, Blue Hill | $2,900,000 Michael Kevin Lynch 207.558.3131

20 & 24 Harbor Point Lane, Bristol | $2,500,000 Charlene Hamiwka 207.671.0085 Kristin Heal 207.542.8890

FEATURED LISTINGS

18 Angell Point Road, Cape Elizabeth | $2,450,000 Anne Bosworth 207.233.3175

987 Popham Road, Phippsburg | $2,370,000 John McCarthy 207.522.3638

10 Chestnut Street, Kennebunkport | $2,295,000 Randal Simon 207.590.9656 Rosane Hirschy 207.467.5792

88 Dodge Cove Lane, Newcastle | $2,250,000 Joanne Moore 207.350.5172 Miles Geisler 207.380.6007

FEATURED LISTINGS

680 Commercial Street, Rockport | $2,050,000 Brian Wickenden 207.975.9650

19 Monument Way, Belfast | $1,995,000 Leslie Tranchell 207.691.2955 Valerie Foster 207.522.7820

2 Clubhouse Drive, Kennebunk | $1,995,000 Betsy Coughlan 207.229.3661

75 Hamilton Way, Yarmouth | $1,820,000 Marika Alexis Clark 207.671.6927

FEATURED LISTINGS

172 Russell Avenue, Rockport | $1,775,000 Leslie Tranchell 207.691.2955 Valerie Foster 207.522.7820

188 Main Road, Westport Island | $1,750,000 Terri Mills 207.831.6715 Rocky Mills 207.798.1482

410&412 Main Street, Rockland | $1,595,000 Brian Wickenden 207.975.9650

74 Foreside Road, Cumberland | $1,550,000 Dennis Duggan 207.522.3747 Ian Duggan 207.522.8090

FEATURED LISTINGS

720 East Madrid Road, Madrid Twp | $1,495,000 Glenn Jonsson 207.776.0036 Lois Lengyel 207.233.2820

33 Gaul Drive, South Bristol | $1,475,000 Connie Moss 207.671.0117

1951 Harpswell Islands Road, Harpswell | $1,475,000 15 Admirals Way, Kennebunk | $1,450,000 John McCarthy 207.522.3638 Andi Robinson 207.604.2479 Elaine Prendergast 207.604.0449

FEATURED LISTINGS

31 Harraseeket Road, Freeport | $1,390,000 Alexa Oestreicher 207.329.9307

1179 Shore Road, Cape Elizabeth | $1,349,000 Anne Bosworth 207.233.3175

123 Pleasant Street, Auburn | $1,300,000 Charlene Hamiwka 207.671.0085 Kristin Heal 207.542.8890

47/49 Eastward On The Ocean, Rockport | $1,295,000 Heidi Steele 207.542.4316

FEATURED LISTINGS

5 & 11 Alley Road, Boothbay | $1,260,000 Rocky Mills 207.798.1482 Terri Mills 207.831.6715

25 Fessenden Avenue, Portland | $1,250,000 Amy Farrell 207.233.0033

85 Spring Valley Road, Raymond | $1,200,000 Tammy Ruda 207.831.3164

19 Farm Road, Raymond | $1,195,000 Heather Shields 207.596.4050 Marika Alexis Clark 207.671.6927

FEATURED LISTINGS

243 Mitchell Road, Cape Elizabeth | $1,175,000 Andrea Pellechia 207.831.0447

173 Stones Point Road, Cushing | $1,150,000 Jackie Wheelwright 207.449.9442

221 Congress Street, Portland | $995,000 Shannon Richards 207.605.2055

344 Old Stage Road, Arrowsic | $975,000 Joane Tait 207.751.4124

FEATURED LISTINGS

30 Harbor Hill Road, Bristol | $950,000 Connie Moss 207.671.0117

697 Overlock Hill Road, Union | $895,000 Aaron Crossman 207.322.6638

56 Carroll Street, Falmouth | $878,000 Andrea Pellechia 207.831.0447

126 Summer Street, Kennebunk | $869,000 Randal Simon 207.590.9656 Rosane Hirschy 207.467.5792

FEATURED LISTINGS

52 Mcfarland Point Drive, 27, Boothbay Harbor | $825,000 5 Alley Road, Boothbay | $800,000 Laura Blake 207.380.4896 Rocky Mills 207.798.1482 Brian Wickenden 207.975.9650 Terri Mills 207.831.6715

166 Fore Street, 52, Portland | $775,000 Sandra Wendland 207.233.7788 Elise Kiely 207.838.1050

41 Hendricks Hill Road, Southport | $775,000 Dennis Gleason 207.446.6394 Linda Painter 207.592.3214

FEATURED LISTINGS

16 Detullio Drive, A, Wells | $775,000 Ginny Whitney 207.451.3093 Jan Kovarik 207.641.7064

209 Beach Ave, Long Island | $750,000 Peter Thornton 207.329.2310 Carrie Martin 207.415.2504

75 Hamilton Way, Yarmouth | $749,000 Marika Alexis Clark 207.671.6927

6 Stoney Hill Road, Rockport | $675,000 Lori Alexander 207.837.0804

FEATURED LISTINGS

710 Chandlers Wharf, 710, Portland | $629,000 Susan Desgrosseilliers 207.975.4304

21 Sheridan Street, 2, Portland | $625,000 Preston Robinson 207.671.4914

319 - 321 Commercial Street, Rockport | $595,000 Aaron Crossman 207.322.6638

190 Calls Hill Road, Dresden | $565,000 Joane Tait 207.751.4124

FEATURED LISTINGS

149 Main Street, 6, Yarmouth | $549,000 Preston Robinson 207.671.4914 John Leahy 207.798.2428

20 Hillside Avenue, Cumberland | $495,000 Lois Lengyel 207.233.2820

1 Miller Street, Belfast | $450,000 Kate Jackson 207.691.3684

618 West Street, Rockport | $400,000 Peter van der Kieft 207.592.9366

Property Distribution The exposure and worldwide reach of our listings is a crucial piece of what sets us apart from the rest of the industry. Our global property marketing partners include the most authoritative news, lifestyle, and once a home is showcased on sothebysrealty.com, it is exclusively marketed on more than 100 Sotheby’s International Realty websites around the world. Results are measured with a variety of analytics and reporting tools, which enable sales associates and ‘

We were the first luxury real estate brand to launch on Apple TV. We were the first luxury real estate brand to add 3D and Virtual Reality Tours to our website. And, we are the first luxury real estate brand to launch an Augmented Reality app.

The highly anticipated Sotheby’s International Realty brand AR app was built with Google’s ARCore and will bring a home’s Curate by Sotheby’s International Realty is a fantastic tool for both clients and Sotheby’s International Realty sales associates.

virtual staging from perception to reality, allowing users to visualize a house as their own before purchase, adding a new level of curation to the home-buying experience.

For prospective homebuyers – Viewing a potential house in AR breaks down visualization barriers that often accompany the homebuying process, allowing prospective homebuyers the unique ability to envision the house in their personal taste and style.

For home sellers / Sotheby’s International Realty clients – Selling a home with a Sotheby’s International Realty sales associate means tapping into the power of AR to sell the home by helping prospective buyers overcome the visualization barriers of touring an empty home or one decorated in style that differs from their taste.

A mobile augmented reality (AR) app that will bring a home’s virtual staging images from 2-D perception into augmented reality.

For the Sotheby’s International Realty sales associate – The benefits for the sales associate are similar to those of the homebuyer and seller; Curate by Sotheby’s International Realty empowers the sales associate to present a home in an objective and neutral manner.

Here are the key groundbreaking features of the app: Visualization – Any property can be transformed through a curated selection of AR furnishings and décor sets. Listing-specific staging options will be available in the near future.

Recollection – The app has screenshot capabilities, allowing viewers to capture and store the images of AR furniture sets placed within the visit.

Shop – Virtual home furnishings can be clicked for more information about the product, including a link to exit the app and be directed to a retailer’s website. All furniture is shown to-scale and provides accurate room dimensions, ensuring furniture viewed in the app will be a fit, making purchasing and moving into a new home easier on new home buyers.

FEATURED LISTING $899,000 46 LOON CALL LANE, WEST GARDINER N COBBOSSEE LAKE

SOCIAL MEDIA

Over 65,000 eNews subscribers.

Over 1,900,000 YouTube property video views.

Over 30,000 social media followers interested in Maine real estate.

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.

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: Sotheby’s Chris Lynch

141 Maine Street Brunswick, Maine 04011 207.729.2820

DAMARISCOTTA OFFICE 170 Main Street Damariscotta, Maine 04543 207.563.2775

CAMDEN OFFICE

46 Bay View Street Camden, Maine 04843 207.230.1003

Volume 41 - November 2014 Issue

Legacy Properties International Realty

Five Offices Covering the first Edited by: 1,500 miles of Maine Coastline Chris Fortunato & Seacoast New Hampshire

info@legacysir.com legacysir.com

FEATURED LISTING $998,000 91 EASTWARD ON THE OCEAN, ROCKPORT