Seasonal Report


Sunday, December 9, 2007


Winter Update



Well the first snowfall (and second, and third!) has arrived in Southern Maine. What does this mean for the real estate market here? Overall, real estate during the winter months in Maine has really gotten a bad wrap. Traditionally, the market here slows down between November and December since many potential home buyers dread the thought of trudging through the snow looking at properties and are busy with the holiday hustle and bustle. Home sellers as well, sometimes dread the potential disruptions of showing their homes during the holiday season too, and assume the buyers have all hibernated. But, this time of year can be an advantage to both buyers and sellers.....

In November and December, inventory tends to be lower than other times of the year. Therefore there is less competition if you have a house to sell. A house for sale in the winter months gives the impression of a seriously motivated seller to the buyers out there....encouraging showings. Any showing is a possible step in the right direction to an offer! Yes, there are plenty of home buyers looking for property during the winter months- some may have job transfers, plan on closing in the early spring, or just think the "deals" are out there this time of year.

For buyers, looking at a house in Maine during the winter months, with no leaves on the trees, grass and flowers in the yard, can give the worst visual scenario..... if they like it now, they'll love it even more during the other three seasons!

Of course, there are still many who love the winter, and the picturesque scenes of a typical New England home blanketed with freshly fallen snow, is quite a site. Keep in mind, if you're considering a trip to southern Maine to browse the housing market, the beaches have a serene peaceful quality this time of year (not to mention plenty of space to walk!), the shopping in Kittery and Portsmouth had loads to offer, and we are less than 2 hours from some of the best skiing in the Northeast!

Happy Holidays and a peaceful 2008 to all.

Cindy

P.S. - For a refreshing perpective on investing in real estate, watch this video interview on The Street.com with David Ranson, Chief Economist with H.C. Wainright.