Home Buying in 04785>Question Details

'cadiennedub…, Home Buyer in 04785

My husband and I have started looking for a posssible summer home in Van Buren, Maine. He will be retiring

Asked by 'cadiennedubayou, 04785 Mon Jun 15, 2009

in a couple of years. I am following the market trends in your area for a small home such as 04785. I really like what I see in this home, but I'm not ready to purchase at this time. Do you think this trend will continue for awhile? South Louisiana

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I am a Broker in Northern Maine. If you are retiring in a couple of years, this is the time to buy since rates are great and home prices in VanBuren area are moderately priced. A person can purchase a very nice home for an affordable price. Yes, it is true that we can't predict the future, but it is my experience that the market in VanBuren will continue to have affordable homes for another few years.
I would love to help you find the right home when you are ready to make the move.
Thank you, April R Caron, Broker Associate, RE/MAX Central
0 votes Thank Flag Link Thu Jan 24, 2013
Here is an outlook for the rest of 2010 in Maine.

http://www.housingpredictor.com/maine.html

Maine has a way to go; I'd say the unemployment in Maine is worse than most other states, and way up North is generally worse than the rest of the State- as far as the economy goes.
Still it is beautiful and quiet up there, for sure.
If you need any help with anything, including financing, please contact me. Thanks,

Ken L.
0 votes Thank Flag Link Fri Feb 5, 2010
As a Home Builder/ Plumbing Contractor, the housing market plummeted 2 years ago and is in no way shape or form on it's way back in Northern Maine. We laid all 5 of our employees off, and are not intending to hire any of them back. The market has dessimated the areas businesses, and the previous housing boom spoiled us. I doubt the prices will go down any further, or up anytime soon. Most real estate is still overpriced, and it is hard to find, people are holding onto the pipe dream of getting what they paid in an ooverpriced market. Remember Realters help to set pricing in areas...(if you can get 150,000.00 for this, I should be able to get 200,000 for this syndrome) Also as a resident of Maine, unless you have been to, and enjoyed a lengthy visit in the area of which you are talking, I would reconsider retiring that far north. Snow, lack of Health Care and Convience to anything should be a considered factor in your purchase. Unlike the south where you can probably turn the lights off and leave for a season, a summer home in Maine comes with a HUGE LIST of Winter time responsibilities, and decisions. Do you keep it heated, or not, If you don't will you drain the house completly or fill it with antifreeze and drain it in the Summer, Who will Shovel the Roof, especially in Northern Maine...I live in Northwestern Maine, and we kick ourselves every winter for building a house that we can't leave because of radiant floors, and the proximity of the trees to the house (we get bad windstorms). Good Luck with your search, I'm sure when you find the perfect camp, you'll be blessed with it being in the price range you hoped for!
0 votes Thank Flag Link Wed Feb 3, 2010
The Aroostook County price average for median purposes is $80,000 for a home, down from $89,000. What the price average will be when you are ready to buy depends on the supply, economy, your timing of what season to purchase. Lakeshore retirement homes are more costly, harder to find but having a lake for a neighbor is pretty special!
Web Reference: http://www.mooersrealty.com
0 votes Thank Flag Link Sat Jul 18, 2009
I am sure there will be some Realtors chiming in with their opinions. However, my office has noticed a considerable increase in business over the past several months both from purchases and refinancing activity. We have a long way to go but if business continues to improve then it won't be long before prices begin to come back. However, as interest rates move up things may start to slow down again and prices may even drop further. It's hard to say. If only we could all predict the future.
Web Reference: http://www.DaleDoughty.com
0 votes Thank Flag Link Mon Jun 15, 2009
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