Home Buying in Wells>Question Details

Eric, Home Buyer in Medford, MA

Has real estate in resort parks in Wells, Maine gained or lost value? Is it a good time to buy in these seasonal parks?

Asked by Eric, Medford, MA Sun Jun 15, 2014

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Hi Eric -Like most communities, the resort parks were hit by the last few years. However, this is indeed, a good time to pick up something in these parks before the prices start increasing again. In Wells, in 2002 and 2003, I sold the same double wide in one of the year round parks for 60k two years in a row. In 2007, I sold the same unit for 74,900. If I were to place it on the market now, depending on condition, I would likely place it at around 55-60k based on some of the comps (2003 price point is pretty typical around here right now). So, are we back to 2006/2007 prices? No. Did they lose value? Yes. BUT, as the market rebounds, now would be the time to grab something, before they do go back up. I would be happy to help you do just that! Thanks - Liz Foley, The Maine Real Estate Network, 207-651-6198
0 votes Thank Flag Link Sat Jun 28, 2014
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