Maine Real Estate

A Market in Transition - Maine Real Estate

Chris Lynch (Legacy Properties Sotheby's International Realty) — Tue, 30 Apr 2013 12:25:44 -0700

Dear Friends,

One cannot pick up a newspaper, read a blog or watch a television news program without hearing about the strength of the real estate recovery nationwide. The National Association of Realtors reported a 9.1% increase in units sold in March compared to a year ago. A more encouraging sign was a strong 12.1% improvement in the national median sales price to $185,100. We have seen a consistent trend towards increased volume in recent months, but prices have been considerably more stubborn on the way up than they were on the way down.

The Northeast Region, which enjoys a significantly higher median home sale price of $237,000, experienced an annual price increase of 3% versus March of 2012. Unit volume grew at a more sustainable rate of 6.8%. These broad market numbers do not tell the whole story. We are hearing from our Sotheby's International Realty counterparts, in the Greater Boston area and surrounding suburbs, that business is booming. They are reporting there has been a clear shift from the "Buyers Market" of the past several years to the early stages of a "Sellers Market." We are hearing about inventory shortages and bidding wars for homes that may have sat on the market for a year or more in 2010. The trend is more than anecdotal as we enter the peak of the spring market.

Maine feels the benefits when the rest of the country is doing well. Our real estate market is particularly closely tied to the New England states with Massachusetts and Connecticut leading the way as a feeder market for both primary and summer vacation homes. The Maine Association of Realtors reported a year over year gain of more than 8% in single family unit sales combined with a 6.25% increase in the median home sale price for March.

While we seem to be heading into a market with more froth and activity around new "well priced" listings, the shifting trends are not uniform. Not every Maine market has felt the impact of the general market recovery. But evidence abounds in both the aggregate numbers and selected areas. I look at "Pending Home Sales" as the best snapshot of what is actually happening today as sold data sadly lags more than 60 days from when a transaction is consummated. As evidence, review the "Pending" data in the chart below which highlights a 21% increase in "Pending" properties from March 2012 to March 2013. It is even more interesting to note that it exceeds peak 2006 levels. It is clear evidence that the market in 2013 is enjoying a significant boost in buyer activity and confidence.

Along with this activity there is a growing sense of fear on the part of the buyer that the market is slipping away from their grip. While it may selectively seem that way, there are still plenty of terrific buying opportunities out there. It may just be a bit more crowded at the offering table. As sellers had to adjust their expectations for many recent years, the buyers are going to have to have strong representation and an aggressive acquisition strategy to secure the best new listings as they come to market.

In Maine, there are four trends at work, all moving simultaneously but at different speeds, which define the spread of the recovering real estate market conditions. The pattern should advance as follows:

Areas of High Density and Population will lead when compared to more Rural areas
Strength moves from the South to the North and
From the Eastern Atlantic Coastline to the Western Lakes, Mountains and Farms
Homes offering best relative value will sell quickly while overpriced properties may not sell without a price adjustment

We were very clear in our definition of a "Buyers Market" which is an extended period fueled by declining demand, shrinking unit volume sales, overwhelming inventory, and most significantly declining prices. While I recognize that many will not agree with me (surprise!?), it seems clear to me that we are in the "early stages" of a "Sellers Market" driven by an improvement in all of the aforementioned factors. And while both prices and sales volumes are increasing, we are still a long way from the market peak 7 years ago. The only factor with which we cannot yet be comfortable is the "extended period" of time. Suffice to say the trend this spring is moving to the side of the seller with a quality property at a current market price. At the moment, I do not see this strengthening trend threatened for some period of time.

With the above criteria, it is no surprise that York County was the only Maine county to achieve double digit improvements in both Median Sale Price (11%) and Unit Sales Volume (16%) for single family homes over the past 12 months. Maine has a heavy reliance on buyers coming from out of state, particularly when it comes to summer homes, ski condos or just a second home getaway from the hustle and bustle. The significant improvements in real estate activity in Massachusetts, Connecticut, New York, New Jersey and Washington DC have been a pivotal part of the recovery in Maine.

In closing, we want to let our families, friends, colleagues and clients in Massachusetts know that our thoughts are with them. We have a special kindred spirit and connection with so many in the Greater Boston area. We know the physical and emotional impact of such a tragedy can stay with you forever, but we are so proud of the incredible resources and personal strength that so many brought to Boston in its time of need. Please know we at Legacy Properties Sotheby's International Realty are here for you, as are many, many other Mainers.

Maine Listings is the source of data, its accuracy cannot be guaranteed.

F E A T U R E D C U R R E N T L I S T I N G S

Click on the office name to view all the listings for each office.

Kennebunk | Portland | Brunswick | Camden

F E A T U R E D R E N T A L S

Legacy Properties Sotheby's International Realty is pleased to welcome Janet Moore and Carroll Fernald as Senior Vice Presidents to our team! Both Carroll and Jan are well known and well respected for their real estate expertise in the Mount Desert Island markets. They specialize in high value property sales in Hancock County along with Marc Perry, former town assessor for the Town of Bar Harbor, and Christina Deetjen based in Blue Hill. Their addition gives us the critical mass and Local Expertise to service this terrific Maine location.

A 30-year resident of Mount Desert Island, Carroll Fernald has been practicing real estate for more than 15 years. She holds several real estate designations including Accredited Buyer Representative (ABR), Certified Residential Specialist (CRS), and a designation from the Graduate Realtor Institute (GRI). Carroll's background in marketing and design has been a great asset for her buyer and selling clients.

A real estate veteran with 30-years experience as a top producing agent in the Mount Desert Island communities, Jan Moore has extensive experience in all aspects of real estate. Trained as a licensed appraiser, Jan expanded her real estate career as a broker, owner, vacation rental business partner, and luxury coastal property specialist. She holds several real estate designations including Accredited Buyer Representative (ABR), Certified Residential Specialist (CRS), and a designation from the Graduate Realtor Institute (GRI). Jan's experience and professionalism makes her a perfect choice for representing either buyers or sellers in a Maine real estate transaction.

Carroll's extensive involvement in leadership positions in Maine real estate has included roles as President of Acadia Council of Realtors, Director of Maine Association of Realtors and Mid-Coast Board of Realtors, and the legislative committee of Maine Association of Realtors. She has been recognized by her peers with several awards. Carroll was named Acadia Council Realtor of the year for both 2007 and 2012. Most recently she was named "REALTOR of the YEAR - 2012" for the State of Maine.

Jan has been extensively involved in the local community. She is currently on the Board of Directors for the Seal Harbor Library and a Director of the Mount Desert Nursing Association. She is also an active member of Seal Harbor Yacht Club, Kinfolk Paddle Tennis, and The Causeway Club. Jan shares a deep affection, along with her friends and clients, for the natural beauty and endless outdoor opportunities available on Mount Desert Island.

The "Local" nature of real estate and the vast statewide, regional, national and international resources available to agents of Legacy Properties Sotheby's International Realty make for a perfect combination for our clients. Marc, Jan, Carroll and Christina offer our clients a unique perspective from Maine Leading Luxury Property Company. We are very pleased to have such a terrific team of professionals servicing this important market for Maine Real Estate.

- The Real World -

Observations from 2500 Listings and/or Sale

Effective Pricing - Revisited

* Very few properties sell Below market value.

* Buyers compete for competitively priced properties. It is more likely buyers will bid over listing price to secure a desirable property than submit an offer on a listing deemed to be above market value.

* Buyers tend to want what other Buyers want. When you price a property competitively, you do not need to leave room for much negotiation.

* Overpriced listings tend to invite Underpriced offers.

* Explain the pricing rationale to satisfy a neutral third party. This is more likely to generate an acceptable offer that a priced based on "Non-Market" related factors such as replacement cost, insurance appraisal, town assessment, outstanding mortgage balance or cost basis.

* Buyers do not value the sellers personal emotional history or attachment to a property. They are looking to create their own, but they are starting anew with a "zero" value placed on its past.

* What a seller "Need to Net" or a "Buyer Can Afford to Pay" are not measures of Market Value.

* Very few properties sell Above market value.

George Ballantyne is a Senior Vice President with Legacy Properties Sotheby's International Realty specializing is High Value and Hard to Value Maine Real Estate

Marc Perry Promoted to Senior Vice President at Legacy Properties SIR

Chris Lynch (Legacy Properties Sotheby's International Realty) — Mon, 08 Apr 2013 11:49:23 -0700

Bar Harbor, Maine (April 8, 2013)— Legacy Properties Sotheby’s International Realty, Maine's leading Luxury Property company, is proud to announce Marc Perry has been promoted to Senior Vice President.

Marc, a Bar Harbor resident and Maine native, is best known for his outstanding work as the Tax Assessor for the Town of Bar Harbor. While Marc has been a licensed real estate agent for a decade, his real estate advisory and client representation has been largely on hold while pursuing his Assessing career. In addition to his work in Bar Harbor and the surrounding areas, Marc has been quite active in trade organizations and the Rotary Club. In fact, Marc is the incoming President of the Bar Harbor (MDI) Rotary Club for 2013.

"We are so pleased with Marc's decision to resign his post with the Town of Bar Harbor. He has so much to offer our clients as a real estate agent," says Christopher Lynch, President of Legacy Properties Sotheby's International Realty. "Anyone who really wants to understand real estate market values in Bar Harbor would do very well to engage him as their agent. His ability to compare and contrast a wide array of properties is really quite impressive. His in depth knowledge of local market values is also high value added for investors, builders, and commercial real estate owners and buyers."

"I am excited to pursue my passion for real estate from the other side of the table. My job had really kept me out of the core business of representing buyers, sellers and investors in Maine real estate in recent years," states Marc Perry. "It is clearly a business where you have to have both feet in the water. The response to my change of jobs has been overwhelmingly positive. It is rewarding to see that people do value the incredible knowledge base I have for the real estate market in multiple different property types and locations. While I know Bar Harbor like the back of my hand, I have been following high value properties in all of Hancock County for many years."

Marc, who holds a Certified Maine Assessors (CMA) license, is an active board member of the Maine Association of Assessing Officers (MAAO). Marc also has an excellent understanding of local Land Use and Town Code Rules and Regulations and is committed to a high level of expertise and professionalism. His experience spans all aspects of local, regional and statewide real estate issues. Marc is uniquely talented and respected for his ability to relate the tax assessing process, town code, zoning, construction, and investment opportunities to the real world of MDI real estate.

Lynch adds, "Marc’s career change is coming at a great time for us as a company. We have been fortunate to attract some of the best real estate talent in the area. Our recent additions include Carroll Fernald, who was named the 2012 Maine Realtor of the Year, has extensive experience and success in MDI properties and Jan Moore, a high achieving veteran agent who is the consummate real estate professional. Christina Deetjen gives us a fantastic high value property presence on the Blue Hill peninsula and George Ballantyne, with long time ties to MDI, rounds out our team with a New England luxury property expertise which is second to none."

"It is hard to imagine a stronger platform than the one offered by Legacy Properties Sotheby's International Realty. We are focused on offering our collective experience to all of our clients, while introducing them to the entire Sotheby's International Realty global marketplace," says Marc Perry. "We aim to be a cooperative and collaborative group combining the local market knowledge with extensive national and international marketing. It is a win/win for our clients and our agents."

Marc Perry can be reached at the office at 207-780-8900, by cellular phone at 207-460-9949 and by e-mail at mperry@legacysir.com.

About Legacy Properties Sotheby’s International Realty - http://www.legacysir.com

Legacy Properties Sotheby's International Realty is Maine's leading luxury and lifestyle property company. With more than 55 agents and 4 offices serving coastal Maine communities. Our professionalism and perseverance have helped us become one of the top 10 real estate companies in Maine in terms of sales. Ranking #1 in sales over $1 million and #1 in sales over $500,000, Legacy Properties Sotheby's International Realty has the global connections to help you achieve your real estate goals.

Offices Located at:

2 City Center, Portland, ME 04101 207-780-8900 (Greater Portland Real Estate)
141 Maine Street, Brunswick, ME 04011 207-729-2820 (Mid-Coast Maine Real Estate)
150 Port Road, Lower Village, Kennebunk, ME 04043 207-967-0934 (York, Ogunquit, the Kennebunks)
46 Bay View Street, Camden, ME 04843 207-230-1003 (Camden, Rockport, Lincolnville, Owls Head, Belfast, Tenants Harbor, St. George, Islesboro, North Haven, Vinalhaven)

Also proudly serving Mount Desert Island, Bar Harbor, Seal Harbor, Northeast Harbor, Southwest Harbor, Tremont, Castine, and Blue Hill among other beautiful Maine Real Estate locations in Hancock County.

Second Annual SailMaine Lecture Series

Chris Lynch (Legacy Properties Sotheby's International Realty) — Thu, 21 Mar 2013 07:27:50 -0700

Portland, Maine (March 20, 2013) – Kim Latour and Sandra Wendland, real estate brokers at Legacy Properties Sotheby’s International Realty, hosted an evening at the Portland Yacht Club on March 14^th with guest speaker Bruce Schwab, the first American to officially finish the Vendee Globe Race.

The fund raiser, the second annual SailMaine Lecture series, was held to continue the ongoing support of SailMaine and its programs. SailMaine is a non-profit organization formed to support sailing in Maine at the grass-roots, community level. SailMaine connects people of all ages and abilities to the coast of Maine through fun and affordable sailing education, recreation, and competition, stimulating individual growth and creating community.

In the sailing lessons, and in their work with High School and Collegiate sailingteams, SailMaine is committed to promoting the values of leadership, self-reliance, sportsmanship, and respect for the environment that the craft of sailing teaches. Through its programs, SailMaine connects people of all ages to the sea, seeking to share the love and appreciation of the coast of Maine, and the ocean beyond. They do a wonderful job of providing access to the water for the local community, and act as a facilitator for the growth of the understanding of the marine environment.

Bruce held the audience captive with his video presentation of his voyage as well as sharing footage from the start of the 2012 Vendee Globe Race. We also had the pleasure of hearing from one of SailMaine’s students, Myles Everett who just returned from racing in New Zealand, and Winslow Furber, SailMaine’s director of maintenance and acting director of development.

“It was a successful event and we wish to thank our sponsors Lyman Morse Yachts, Maine Boats, Home & Harbors Magazine, Brion Rieff Boatbuilders, and Verrill Dana. In addition we thank Chart Metalworks, Ella Vickers Recycled Sailcloth Collection, and House of Logan for donated auction items,” noted Sandra Wendland.

“We look forward to hosting the future lectures we already have planned with a line-up of speakers. It is a pleasure to continue our commitment to the community and share the passion of lifelong sailing with others,” added Kim Latour.

If you would like to be included on invitations to future lectures, please emailSailMaine@Legacysir.com with your name and phone number.

About Legacy Properties Sotheby’s International Realty

Maine Real Estate Expertise – Legacy Properties Sotheby’s International Realty is the leading luxury property company in Maine. With offices in Kennebunk, Portland, Brunswick and Camden, Legacy Properties Sotheby’s International Realty serves the coastal communities in Maine for distinctive properties at all prices. With more than 50 licensed agents, Legacy Properties Sotheby’s International Realty is able to provide Maine Real Estate services for buyers and sellers throughout the state. www.LegacySIR.com

Legacy Properties Sotheby’s International Realty, Two City Center, Portland, ME – 207.780.8900
Legacy Properties Sotheby’s International Realty, 150 Port Road, Kennebunk, ME – 207.967.0934
Legacy Properties Sotheby’s International Realty, 141 Maine Street, Brunswick ME 04011 – 207.729.2820
Legacy Properties Sotheby’s International Realty, 46 Bay View Street, Camden, ME 04843 – 207.230.1003
Additional agents serving Belgrade Lakes, Mount Desert Island, Northeast Harbor, and Blue Hill among other beautiful Maine Real Estate locations

Janet Moore Joins Legacy Properties Sotheby's International Realty as Senior Vice President

Chris Lynch (Legacy Properties Sotheby's International Realty) — Wed, 06 Mar 2013 08:57:51 -0800

Portland, Maine (March 6, 2013)— Legacy Properties Sotheby’s International Realty, Maine's leading Luxury Property company, is proud to announce Janet Moore has joined as a Senior Vice President.

A real estate veteran with 30 years experience as a top producing agent in the Mount Desert Island communities, Jan Moore has extensive knowledge in all aspects of real estate. Trained as a licensed appraiser, Jan expanded her real estate career as a broker, owner, vacation rental business partner, and luxury coastal property specialist. She holds several real estate designations including Accredited Buyer Representative (ABR), Certified Residential Specialist (CRS), and a designation from the Graduate Realtor Institute (GRI). Jan's experience and professionalism makes her a perfect choice for representing either buyers or sellers in a Maine real estate transaction.

“Jan's long history in MDI and her market knowledge is a fantastic asset for our team," says Christopher Lynch, President of Legacy Properties Sotheby's International Realty. “She has demonstrated time and time again that she is able to get transactions done in all types of market conditions.” Jan believes her success is based on repeat business and referrals from former clients, which is the greatest compliment a realtor can receive.

Jan has been extensively involved in the local community. She is currently on the Board of Directors for the Seal Harbor Library, Director of the Mount Desert Nursing Association, and affinity group member of (IMP) International Partners of Mission. She is also an active member of Seal Harbor Yacht Club, Kinfolk Paddle Tennis, and The Causeway Club. Jan shares a deep affection, along with her friends and clients, for the natural beauty and endless outdoor opportunities available on Mount Desert Island.

"Jan brings an energy and passion for her work, her clients, and her friends that is infectious," adds Lynch. "She is excited to bring new ideas and fresh energy to her clients through her affiliation with Legacy Properties Sotheby's International Realty. And we could not be more excited to have her!"

"Legacy Properties Sotheby's International Realty offers me a fantastic business platform and strong support for my buyer and seller clients," states Jan. "The ability to access some of the finest properties in Coastal Maine will be invaluable to my buyers. My sellers will now be associated with Maine's leading luxury property company and the marketing that accompanies it."

Jan resides in Seal Harbor. She has two grown sons who reside in Northeast Harbor. She loves tennis, hiking, bicycling, gardening, travel and boating.

Janet Moore can be reached at the office at 207-780-8900, by cellular phone at 207-266-0441 and by e-mail at jmoore@legacysir.com.

About Legacy Properties Sotheby’s International Realty - http://www.legacysir.com

As the leader in luxury and lifestyle properties, Legacy Properties Sotheby’s International Realty offers an unmatched blend of local expertise, world-class home marketing power and property exposure. Our 50 plus licensed real estate agents specialize in Maine Coastal Real Estate, Maine Waterfront Property, Maine Oceanfront Real Estate and other beautiful homes for sale.

Offices located at:

Additional agents serving Islesboro, North Haven, Mount Desert Island, Northeast Harbor, and Blue Hill among other beautiful Maine Real Estate locations.

Carroll Fernald Joins Legacy Properties Sotheby’s International Realty as Senior Vice President

Chris Lynch (Legacy Properties Sotheby's International Realty) — Wed, 06 Mar 2013 08:31:01 -0800

Portland, Maine (March 6, 2013)— Legacy Properties Sotheby’s International Realty, Maine's leading Luxury Property company, is proud to announce Carroll Fernald has joined as a Senior Vice President.

A 30-year resident of Mount Desert Island, Carroll has been practicing real estate for more than 15 years. She holds several real estate designations including Accredited Buyer Representative (ABR), Certified Residential Specialist (CRS), and a designation from the Graduate Realtor Institute (GRI). Carroll's background in marketing and design has been a great asset for her buyer and seller clients.

"We are very excited to add to our team in MDI and Hancock. This is an important growth market for Legacy Properties Sotheby's International Realty. We are so fortunate to have someone of Carroll's stature in the real estate community joining our team" says Christopher Lynch, President of Legacy Properties Sotheby's International Realty.

"Carroll's commitment and contribution to the real estate community is exemplary! She is a dedicated professional who is widely recognized statewide for excellence in all that is real estate," adds Lynch.

"Legacy Properties Sotheby's International Realty has impressed me with the professional focus and team work that has made this company one of the leading real estate companies in Maine," states Carroll. "The company's network of offices and agents throughout the state will be a tremendous benefit for both my buyer and seller clients. I am confident my clients will be pleased with the resources available to help them achieve their real estate goals."

Carroll resides in Mount Desert with her husband. She has three grown children and 10 grandchildren. She is a passionate gardener, cook, and traveler when time permits.

Carroll Fernald can be reached at the office at 207-780-8900, by cellular phone at 207-266-1540 and by e-mail at cfernald @legacysir.com.

About Legacy Properties Sotheby’s International Realty - http://www.legacysir.com

Offices located at:

Additional agents serving Islesboro, North Haven, Mount Desert Island, Northeast Harbor, and Blue Hill among other beautiful Maine Real Estate locations.

Sotheby’s International Realty Brand Wins ‘Best in Category’ for Sixth Consecutive Year in Franchise Business Review’s Franchisee Satisfaction Awards

Chris Lynch (Legacy Properties Sotheby's International Realty) — Tue, 05 Mar 2013 06:05:39 -0800

PARSIPPANY, N.J. (March 4, 2013) – Sotheby’s International Realty Affiliates LLC today announced it won Franchise Business Review’s Best in Category for Real Estate Franchisee Satisfaction award for the sixth year in a row.

The Best in Category award measures franchisee satisfaction with their franchisors and is part of the 8th annual Franchisee Satisfaction Awards presented by Franchise Business Review. In addition to its real estate ranking, the brand also came in second overall among the Top 50 “Systems with 250 or more units,” which is a ranking of all franchise systems with more than 200 units across all categories.

“This award is a reflection of our commitment to providing the highest possible quality service to our valued network members, and we are humbled and honored to have received this distinction for the sixth year in a row,” said Philip White, president and chief executive officer, Sotheby’s International Realty Affiliates LLC. “We believe our duty is to serve our network and to offer them the tools and resources they need to help them succeed. The reason the Franchise Business Review recognition is so rewarding is because it is measured by input from our most important asset: our franchisees.”

Franchise Business Review surveyed more than 26,000 franchisees from more than 350 leading systems for the 8th annual Franchisee Satisfaction Awards. Franchises were evaluated in five areas: training and support, franchise system, franchisor/franchisee relations, financial opportunity and overall satisfaction. Additionally, demographic and lifestyle questions gave a 360-degree view of the franchise ownership experience. Franchise Business Review is a national franchise market research firm that performs independent surveys of franchisee satisfaction and franchise buyer experiences. For a complete list of this year’s award winners, go to www.FBR50.com.

“It’s great to see the Sotheby’s International Realty brand top our Real Estate list once again this year,” said Franchise Business Review President Michelle Rowan. “As the real estate and housing markets bounce back, franchises within the space need to stay top of mind with franchise buyers and consumers.

The brand continues to seek ways to drive franchisee satisfaction and profitability--and their hard work shows here.”

The Sotheby’s International Realty® network currently has 12,800 sales associates located in approximately 660 offices in 47 countries and territories worldwide. Each office is independently owned and operated.

About Sotheby’s International Realty Affiliates LLC
Founded in 1976 to provide independent brokerages with a powerful marketing and referral program for luxury listings, the Sotheby’s International Realty network was designed to connect the finest independent real estate companies to the most prestigious clientele in the world. Sotheby’s International Realty Affiliates LLC is a subsidiary of Realogy Holdings Corp.
(NYSE: RLGY), a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services. In February 2004, Realogy entered into a long-term strategic alliance with Sotheby’s, the operator of the auction house. The agreement provided for the licensing of the Sotheby’s International Realty name and the development of a full franchise
system. Affiliations in the system are granted only to brokerages and individuals meeting strict qualifications. Sotheby’s International Realty Affiliates LLC supports its affiliates with a host of operational, marketing, recruiting, educational and business development resources. Franchise affiliates also benefit from an association with the venerable Sotheby’s auction house,
established in 1744. For more information, visit www.sothebysrealty.com.

###
CONTACT
Jennifer Zimmerman
Director, Public Relations and Communications
Sotheby's International Realty Affiliates LLC
1 Campus Drive
Parsippany, NJ 07054
(973) 407-6375
Jennifer.Zimmerman@sothebysrealty.com

Sotheby’s International Realty Brand Grew Worldwide Network in 2012, Reporting a 30% Year-over-Year Increase in U.S. Closed Transaction Sides

Chris Lynch (Legacy Properties Sotheby's International Realty) — Mon, 25 Feb 2013 12:34:50 -0800

PARSIPPANY, N.J. (Feb. 25, 2013) – Sotheby’s International Realty Affiliates LLC today announced that it grew the office count within its global network by more than 9 percent in 2012, ending the year with approximately 660 offices and 12,800 sales associates located in 47 countries and territories worldwide. The Sotheby’s International Realty® network also reported a 30 percent year-over-year increase in U.S. transaction sides closed by its affiliated brokers and agents in 2012.PARSIPPANY, N.J. (Feb. 25, 2013) – Sotheby’s International Realty Affiliates LLC today announced that it grew the office count within its global network by more than 9 percent in 2012, ending the year with approximately 660 offices and 12,800 sales associates located in 47 countries and territories worldwide. The Sotheby’s International Realty®network also reported a 30 percent year-over-year increase in U.S. transaction sides closed by its affiliated brokers and agents in 2012.

The Sotheby’s International Realty brand also expanded its management team in Asia in 2012 as part of a comprehensive global servicing initiative to further develop the company’s network of real estate affiliates in the region. The brand won Franchise Business Review’s Best in Category for Real Estate Franchisee Satisfaction award for the fifth year in a row and came in second overall among the Top 50 Large Franchise Systems, which is a ranking of all franchise systems with more than 200 units across all categories. The Sotheby’s International Realty brand also expanded its management team in Asia in 2012 as part of a comprehensive global servicing initiative to further develop the company’s network of real estate affiliates in the region. The brand won Franchise Business Review’s Best in Category for Real Estate Franchisee Satisfaction award for the fifth year in a row and came in second overall among the Top 50 Large Franchise Systems, which is a ranking of all franchise systems with more than 200 units across all categories.

“Last year was significant for the Sotheby’s International Realty brand as we saw 15 new companies join our luxury network from all over the world,” said Philip White, who was named the brand’s president and chief executive officer in 2012. “We also saw impressive organic growth among our existing affiliates. “Last year was significant for the Sotheby’s International Realty brand as we saw 15 new companies join our luxury network from all over the world,” said Philip White, who was named the brand’s president and chief executive officer in 2012. “We also saw impressive organic growth among our existing affiliates.

Overall, we expanded our market presence in key locations from Princeton, N.J., to Aspen, Colo., London and Australia. Our network has what we believe is one of the highest average sales prices of any national real estate system in the United States.” Overall, we expanded our market presence in key locations from Princeton, N.J., to Aspen, Colo., London and Australia. Our network has what we believe is one of the highest average sales prices of any national real estate system in the United States.”

The Sotheby’s International Realty brand added five new residential real estate brokerage firms to its network across the United States in the following markets: Fort Worth, Texas; Tarrytown, N.Y.; Brooklyn, N.Y.; Leesburg, Va.; and Wellington, Fla. Outside of the United States the brand expanded its network to provide its real estate services in: Milan, Italy; Taipei, Taiwan; Barcelona, Spain; San Miguel, Mexico; Tel Aviv, Israel; Ibiza, Spain; Sydney, Australia; San Juan, Puerto Rico; Vilnius, Lithuania; and Da Nang, Vietnam.The Sotheby’s International Realty brand added five new residential real estate brokerage firms to its network across the United States in the following markets: Fort Worth, Texas; Tarrytown, N.Y.; Brooklyn, N.Y.; Leesburg, Va.; and Wellington, Fla. Outside of the United States the brand expanded its network to provide its real estate services in: Milan, Italy; Taipei, Taiwan; Barcelona, Spain; San Miguel, Mexico; Tel Aviv, Israel; Ibiza, Spain; Sydney, Australia; San Juan, Puerto Rico; Vilnius, Lithuania; and Da Nang, Vietnam.

From a marketing perspective, 2012 saw the launch of the Sotheby’s International Realty iPad® application. Available for download from Apple’s App Store, the app’s features include 40 points of interest based on the property location, one-click-contact to a Sotheby’s International Realty broker or agent, the ability for consumers to save home search information for future use, a dynamic map feature displaying all available homes for sale or rent based on a user’s location or interested city/neighborhood and high-quality photography. From a marketing perspective, 2012 saw the launch of the Sotheby’s International Realty iPad® application. Available for download from Apple’s App Store, the app’s features include 40 points of interest based on the property location, one-click-contact to a Sotheby’s International Realty broker or agent, the ability for consumers to save home search information for future use, a dynamic map feature displaying all available homes for sale or rent based on a user’s location or interested city/neighborhood and high-quality photography.

The Sotheby’s International Realty brand also launched a series of branded websites for specialty markets in 2012, beginning with Farm & Ranch, Waterfront and Ski, with additional websites planned for 2013, and its official Extraordinary Living blog on sothebysrealty.com, designed to provide insights into a range of real estate and lifestyle topics. The Sotheby’s International Realty brand also launched a series of branded websites for specialty markets in 2012, beginning with Farm & Ranch, Waterfront and Ski, with additional websites planned for 2013, and its official Extraordinary Living blog on sothebysrealty.com, designed to provide insights into a range of real estate and lifestyle topics.

The Sotheby’s International Realty network currently has more than 12,000 sales associates located in approximately 625 offices in 44 countries and territories worldwide.

Legacy Properties Sotheby's International Realty - http://www.legacysir.com Legacy Properties Sotheby's International Realty - http://www.legacysir.com

As the leader in luxury Maine Real Estate, Legacy Properties Sotheby's International Realty offers an unmatched blend of local expertise, world-class home marketing power and property exposure. Our 50 plus licensed real estate agents specialize in Maine Coastal Real Estate, Maine Waterfront Property, Maine Oceanfront Real Estate and other beautiful homes for sale.As the leader in luxury Maine Real Estate, Legacy Properties Sotheby's International Realty offers an unmatched blend of local expertise, world-class home marketing power and property exposure. Our 50 plus licensed real estate agents specialize in Maine Coastal Real Estate, Maine Waterfront Property, Maine Oceanfront Real Estateand other beautiful homes for sale.

Liam McCoy Joins the Greater Portland Office of Legacy Properties Sotheby’s International Realty

Chris Lynch (Legacy Properties Sotheby's International Realty) — Thu, 21 Feb 2013 14:01:19 -0800

Portland, Maine (February 21, 2013)— Legacy Properties Sotheby’s International Realty, Maine’s leading Luxury Property company, today announced Liam McCoy joined its Portland Maine real estate office as a Vice President.

Having been involved in various aspects of Maine real estate including property management and real estate brokerage for more than 15 years, Liam has achieved a high level of success. He has brokered transactions in several towns in Greater Portland including Cape Elizabeth, South Portland, Portland, Scarborough and Falmouth. Prior to beginning his Maine real estate career, Liam graduated with a degree in Engineering from the University of Southern Maine.

“We are so pleased to have Liam join our team” says Christopher Lynch, President of Legacy Properties Sotheby’s International Realty.” He brings more energy and local market knowledge to our Greater Portland presence.”

“Legacy Properties Sotheby’s International Realty offers a terrific global platform and global marketing resources, technology and support to offer my clients the more exposure for their homes” states Liam McCoy. “I am impressed with the power of Sotheby’s International Realty and the strong market share gains by Legacy Properties. I am certain my clients will be pleased with the resources available to help them achieve their real estate goals.”

Liam resides in Cape Elizabeth with his wife and 3 children. Raised in Maine, he is on the Board Directors of the Cape Elizabeth Education Foundation and Director of the youth T-ball program.

Liam McCoy can be reached at the office at 207-780-8900, by cellular phone at 207-712-6860 and by e-mail at Lmccoy@legacysir.com.

Legacy Properties Sotheby’s International Realty is Maine’s leading luxury and lifestyle property company, with more than 50 agents and 4 offices serving coastal Maine communities.

Offices Located at:

2 City Center, Portland, ME 04101 207-780-8900 (Greater Portland Real Estate)
141 Maine Street, Brunswick, ME 04011 207-729-2820 (Mid-Coast Maine Real Estate)
150 Port Road, Lower Village, Kennebunk, ME 04043 207-967-0934(York, Ogunquit, the Kennebunks)
46 Bay View Street, Camden, ME 04843 207-230-1003 (Camden, Rockport, Tenants Harbor, St. George)

Additional agents serving Islesboro, North Haven, Mount Desert Island, Northeast Harbor, and Blue Hill among other beautiful Maine Real Estate locations.

Sotheby’s International Realty Brand Enters Dominican Republic

Chris Lynch (Legacy Properties Sotheby's International Realty) — Fri, 15 Feb 2013 09:32:18 -0800

PARSIPPANY, N.J. and CABARETE, Dominican Republic (Feb. 14, 2013) – Sotheby’s International Realty Affiliates LLC today announced it has strengthened its presence in the Caribbean with the addition of Cabarete Dominican Republic Sotheby’s International Realty to its luxury real estate network.

The firm is owned by William Holden, who first established Cabarete Lifestyle in 2004. The flagship Cabarete Dominican Republic Sotheby’s International office covers the Cabarete region and the company plans to open a second office in Las Terrenas in the near future.

“The addition of Cabarete Dominican Republic Sotheby’s International Realty to our luxury real estate network builds on the momentum we are experiencing throughout the Caribbean region, where in 2012 we expanded into Puerto Rico and the U.S. Virgin Islands,” said Philip White, president and chief executive officer, Sotheby’s International Realty Affiliates LLC. “We look
forward to further growth in this market under William Holden’s leadership.”

“The Dominican Republic is unique for a Caribbean country because it is such a large, easily accessible island, which is conducive to many different lifestyles in the areas within close proximity to the United States,” said Holden. “The metropolitan areas contain some of the best hospitals and cultural areas in the world. Moreover, land, construction and operating costs are lower than most other parts of the world, and importantly, the legal and political system in the
Dominican Republic has historically respected all home owners’ property rights. We intend to further enhance the image of the Dominican Republic as a luxury real estate destination on an international scale through the brand’s worldwide network of offices and the global contacts available through our association with the prestigious Sotheby’s International Realty brand and
the Auction House.”

The Sotheby’s International Realty® network currently has more than 12,600 sales associates located in approximately 650 offices in 45 countries and territories worldwide. Cabarete Dominican Republic Sotheby’s International Realty listings will be marketed on the sothebysrealty.com global website. In addition to the referral opportunities and widened exposure generated from this source, the firm’s brokers and clients will benefit from an association with the Sotheby’s auction house and worldwide Sotheby’s International Realty
marketing programs. Each office is independently owned and operated.

About Sotheby’s International Realty Affiliates LLC
Founded in 1976 to provide independent brokerages with a powerful marketing and referral program for luxury listings, the Sotheby’s International Realty network was designed to connect the finest independent real estate companies to the most prestigious clientele in the world. Sotheby’s International Realty Affiliates LLC is a subsidiary of Realogy Holdings Corp. (NYSE: RLGY), a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services. In February 2004, Realogy entered into a long-term strategic alliance with Sotheby’s, the operator of the auction house. The agreement provided for the licensing of the Sotheby’s International Realty name and the development of a full franchise system. Affiliations in the system are granted only to brokerages and individuals meeting strict qualifications. Sotheby’s International Realty Affiliates LLC supports its affiliates with a host of operational, marketing, recruiting, educational and business development resources. Franchise affiliates also
benefit from an association with the venerable Sotheby’s auction house, established in 1744. For more information, visit www.sothebysrealty.com.

CONTACTS
David Russell
Director, International Marketing and Public Relations
Sotheby's International Realty Affiliates LLC
Thorpe Hall, Fylingthorpe, YO22 4TT
United Kingdom
+44208 123 1985
David.Russell@sothebysrealty.com

William Holden
Cabarete Dominican Republic Sotheby’s International Realty
Plaza Ocean One, No. 3318, Calle Principal,
Cabarete, Puerto Plata,
Dominican Republic.
+ 809.571.0072
William.Holden@sothebysrealty.com
www.cabareteDRsothebysrealty.com

Maine Real Estate Recovery – Not Just Anecdotal

Chris Lynch (Legacy Properties Sotheby's International Realty) — Thu, 07 Feb 2013 11:41:46 -0800

PROLOGUE

Legacy Properties Sotheby's International Realty wishes to thank all of our friends and clients for your support in 2012. Our mission to represent our clients with the best possible market tools, exceptional marketing and the finest quality agent representation have been the hallmarks of growth. We are pleased to say it is working!

In recent weeks, Legacy Properties Sotheby's International Realty announced a year of record performance by several measures. Highlighted and linked are press releases reporting "A Record Year of Performance," "Ascension into a TOP 10 Real Estate Company in Maine," "A Number One Rankings for All Sales over $1 million" and "A Number One Ranking for All Sales over $500,000" statewide for 2012. Please feel free to read the press releases at your leisure.

Thank you again and we look forward to doing business with you in 2013!

Dear Friends,

Going back a few years ago, we would relish bits of anecdotal evidence that a recovery in Maine was starting to bloom. At first, it looked like a scatter plot of uncorrelated lightning strikes where homes, albeit very few, were selling for seemingly stronger prices. It was also largely limited to the highest value locations in Maine. As the anecdotes grew to more than a handful, the coincidence was becoming statistically significant. The positive stories, however, were coming in greater frequency in 2011. We were in the early stages of a Buyer mood change driven by greater certainty and a revived confidence that the worst of the real estate collapse was well behind. This renewed positive sentiment is driving our markets geographically moving from south to north and east to west in Maine.

The chart below will show clear evidence that a sustained recovery is underway. There has not been a year over year decline in Single Family Homes sold since June of 2011. The statistical press releases from Maine Listings reveal 18 uninterrupted monthly gains in terms of Unit volume. In fact, 8 of the 12 months reported in 2012 demonstrated Unit volume gains in excess of 10% with five of them in excess of 20% gains. All told, the year 2012 had Unit volume gains of more than 17% compared with 2011. While Median Price increases will lag in the cyclical recovery, there was a small 3% improvement for the year.

We have discussed the 4 phases of a real estate cycle in past newsletters and how they relate to unit sales and price performance over the past decade. Phase 1: Volume and Prices rise; Phase 2: Volume declines with Prices flat to still rising; Phase 3: Volume and Prices Decline and Phase 4: Volume increases with Prices flat to declining. It was July of 2011, when Maine real estate entered Phase 4 and the clear stages of a Unit Volume recovery. The trend is telling us that 2013 will be a clear move back to Phase 1 with both Unit Volume and Median Prices heading in a positive direction.

One of Maine's many great attributes is its stubborn resistance to change. It is the reason that we continue to enjoy an unparalleled quality of life with easy access to some of the most spectacular natural beauty, fantastic restaurants and Arts in North America. However, it is also why we struggle with a change in market sentiment and economic conditions. It is our goal to help clarify the confusion regarding market conditions and eliminate any misunderstanding between buyers and sellers.

Although we experienced Unit sales growth of 25% and 24% in October and November, Maine home Buyers have been reluctant to recognize early on that inventories are much more tight than they have been for several years. Quality properties that are priced to reflect "CURRENT MARKET" prices have been snapped up quickly and, in many cases, with multiple interested parties. It is now time for success oriented Buyers, who have been wielding a strong hand in recent years, to realize they are no longer the only ones at the table. A corollary would be that if you are a Buyer and currently the only Buyer at the table for a specific home, do not dawdle; more competition is on the way.

Maine's sellers were steadfast and united for most of 2007 and 2008 in a strong belief that market prices were not falling into weaker demand. It is fair to say that 2009 and 2010 convinced us all that no segment of the real estate market in Maine was immune to significant reduction in value. Yet for many homeowners, the market was retreating so quickly that it was nearly impossible to lower prices fast enough to keep up with the deteriorating conditions. Now, as we see signs of low single digit price improvement, there is still confusion and dislocation in pricing strategies. It is critical to remember as a seller that the gains we are experiencing are relative to the previous year and reflective of small gains from the lowest points of the cycle. It is also important to recognize that prices are moving higher in lower price point segments. The luxury market and the upper middle markets have yet to enjoy all of the spoils. Legacy Properties Sotheby's International Realty is a leader in Maine real estate market education with respect to valuation, but we are not seeing values anywhere near the height of the market in 2005 and 2006. While we may get back to such lofty levels in our lifetime, it is not in our expectations for the next couple of years. We are in a market in which pricing is binary; either a property will sell quickly or it takes a very long time. The average is really a reflection of the 2 outcomes but, truth be told, there are not many homes that represent that average time on market.

There are many factors contributing to Maine's real estate recovery. It is certainly helpful that mortgage rates continue to be very attractive. The uncertainty of the election has passed and the stock market is back in the 14,000 range on the DOW are helpful. However, if I were to point to one primary driver for the recovery in Maine, it would be the strong market activity in our primary feeder markets such as Boston, New York, Washington, DC, Florida and Fairfield County Connecticut. Maine is reliant out of state buyers relocating or purchasing a second summer/winter vacation home.

Our outlook for 2013 remains positive despite some fiscal and political clouds on the horizon. We believe that Unit volume gains will continue to improve although probably a bit more tempered by the strong gains last year. Prices are directly tied to supply; if we can keep our inventory moving at a healthy turnover rate, prices will rise accordingly. Successful Buyer will be the ones that are in a position to make a quick decision with financing approvals in place. Successful sellers will be razor sharp with listing prices to attract the best buyers in the marketplace. All told, it should be a satisfying year for Maine real estate participants.

Maine Listings is the source of data, its accuracy cannot be guaranteed.

F E A T U R E D C U R R E N T L I S T I N G S

Click on the office name to view all the listings for each office.

Kennebunk | Portland | Brunswick | Camden

F E A T U R E D M A I N E R E N T A L S

- The Real World -

Observations from 2500 Listings and/or Sales

Effective Pricing

Markets are efficient. Competitively priced properties sell. Overpriced properties remain on the market indefinitely.

Buyers compete for competitively priced properties. It's more likely buyers will bid over listing price to secure a property than submit a low offer on an overpriced listing. We want, what others want. Scarcity creates demand and vice versa.

Testing the market is expensive. Testing means looking for a buyer who will pay more than "market value". You can spend a lot of time [days on market/price revisions] looking for a buyer who will pay more than market value. It is possible that you may never find one.

In an Internet driven world you can often determine "market value" in days or months. The print driven world required months or years to reach a comparable number of buyers.

In each market and price range, there is a measurable bracket between listing and selling price that will stimulate interest. Stated differently, if the difference between listing and selling price is too great, no offers will be submitted.

There is seldom a relationship between the current owners cost and market value. A difficult concept even for the most financially sophisticated.

We want what others want. A competitively priced property attracts buyers like a magnet. You do not need to leave room for negotiation. When there's competition, buyers may bid the property above asking price.

What a seller needs to net or what a buyer can afford to pay, does not equal market value.

Buyers want to be surrounded by properties of comparable or greater value. If their plans change, they wish assurance they will be able to sell.

Buyers pay attention to competitively priced properties. Cooperating brokers focus their efforts, where they anticipate there will be a sale. When the distance between listing and selling price is more than 10%- 15%, it's hard to get the attention of both buyers and brokers.

Each price revision creates the expectation that there may be another. Each time the property is "introduced" at a new price, there is an expectation of increased activity. Based on a statistical analysis, there is little activity until the "last" price is within 10% of the selling price.

Very few properties sell below market value.

George Ballantyne is a Senior Vice President with Legacy Properties Sotheby's International Realty specializing is High Value and Hard to Value Maine Real Estate

Unless otherwise specified, all Maine real estate statistics were compiled using Maine Listings data. There is no guarantee of the accuracy and completeness of the data.

Maine's Leading Real Estate Company for sales over $500,000

Chris Lynch (Legacy Properties Sotheby's International Realty) — Tue, 29 Jan 2013 10:21:06 -0800

Maine (January 29, 2013)— Maine Real Estate - Legacy Properties Sotheby’s International Realty, with offices in Portland, Kennebunk, Brunswick and Camden, announced that its total dollar sales volume ranks it Number One in Maine for property sales with prices exceeding $500,000. While there is no official release of Maine Real Estate Company rankings, the statistical analysis revealed that Legacy Properties Sotheby's International Realty is the dominant market leader in terms dollar volume of sales as well as unit volume.

“As we have grown in many key markets, we have had the opportunity to list and sell so many terrific homes" said Christopher Lynch, President. “We have broad participation among many of our agents in several towns supporting our market share gains in this very important $500,000 plus segment."

Legacy Properties Sotheby's International Realty has consistently ranked among the top property companies in Maine with its focus on Maine coastal communities and lifestyle properties throughout the state. The company reported Unit Volume record performance of 127 agent transaction sides totaling more than $123,000,000 in the $500,000 plus category. "Our strength comes from marketing all of our listings at all prices to a broad range of local, regional, national and international prospects," adds Mr. Lynch

"The marketing tools and branding opportunities we offer our clients is extraordinary" said Rick Griffin, Senior Vice President at Legacy Properties Sotheby's International Realty's Kennebunk office. "We market all of our listings to help our clients present their homes with the best possible photography, advertising and global distribution."

Legacy Properties Sotheby's International Realty recently celebrated its 7th anniversary since opening its door to the public in January 2006.

Legacy Properties Sotheby’s International Realty - http://www.legacysir.com

As the leader in luxury Maine Real Estate, Legacy Properties Sotheby’s International Realty offers an unmatched blend of local expertise, world-class home marketing power and property exposure. Our 50 plus licensed real estate agents specialize in Maine Coastal Real Estate, Maine Waterfront Property, Maine Oceanfront Real Estate and other beautiful homes for sale.

About Legacy Properties Sotheby’s International Realty

Legacy Properties Sotheby's International Realty Is Maine's Leading Luxury Property Company For 2012

Chris Lynch (Legacy Properties Sotheby's International Realty) — Thu, 24 Jan 2013 11:15:36 -0800

Maine (January 24, 2013) - Maine Real Estate - Legacy Properties Sotheby’s International Realty, with offices in Portland, Kennebunk, Brunswick and Camden, announced that its total dollars sales volume ranks it number 1 in Maine for property sales with prices exceeding $1,000,000. The company reported its million plus dollar sales for 2012 ranked it significantly ahead of any other Maine based property company. While there is no official release of Maine Real Estate Company rankings, the statistical analysis revealed that Legacy Properties Sotheby's International Realty is the dominant market leader in terms of both unit volume and dollar volume of sales.

“We could feel the second home market begin to show new signs of life as far back as August of 2011" said Christopher Lynch, President. “Despite challenging market conditions in 2009 and 2010, we continued to aggressively advertise and market our beautiful portfolio of listings. As a result, we were very well positioned as the market began to recover."

Legacy Properties Sotheby's International Realty has consistently ranked among the top luxury property companies in Maine with its focus on Maine waterfront homes and coastal communities. For sales over $1,000,000 the company reported Unit Volume performance of 40 agent transaction sides totaling more than $63,000,000. "This accomplishment was achieved with shared success of each of its 4 offices individually and collectively and each office ranked among the most productive in their respective market coverage areas." adds Mr. Lynch.

The company has been a market leader in the luxury property category for several years. With its unique ability to market special properties and source buyers directly or through cooperating agencies, Legacy Properties Sotheby's International Realty was able to extend its lead over its in this market segment.

"The Sotheby's International Realty affiliation and global recognition of quality is a natural fit for our company" said Joane Tait, Senior Vice President at Legacy Properties Sotheby's International Realty. "But branding is only the beginning, we have to work very hard to expose our beautiful listings and educate the public about the value proposition in Maine."

Legacy Properties Sotheby's International Realty recently celebrated its 7th anniversary since opening its door to the public in January 2006.

Legacy Properties Sotheby’s International Realty - http://www.legacysir.com

About Legacy Properties Sotheby’s International Realty

Legacy Properties Sotheby's Int'l Realty Reports Record Growth in Maine Real Estate

Chris Lynch (Legacy Properties Sotheby's International Realty) — Thu, 17 Jan 2013 12:46:47 -0800

Maine (January 17, 2013) — Legacy Properties Sotheby’s International Realty, with offices in Portland, Kennebunk, Brunswick and Camden, announced its 2012 results. The company reported record improvement in Maine home sales as measured by both units sold and total dollar volume sold.

“Our growth in the last year demonstrates the value our clients are placing on the services we offer and the power of the Sotheby’s International Realty name and its reputation for excellence,” said Christopher Lynch, President. “One of our goals for last year was to continue to expand our network in key markets in Maine while increasing our opportunities in our existing core markets."

Legacy Properties Sotheby's International Realty is reporting Unit Volume performance of 362 agent sides totaling more than $191,000,000 in value. While units sold increased by 75%, record dollar volume sold was more than double its 2011 results. "We saw the market recovery in its early stages beginning in August of 2011 after several challenging years. Our business was aided by a strong recovery in the summer vacation home market supplementing our steady year-round business." adds Mr. Lynch.

The company attributes its growth to several factors highlighting its unique global marketing program and extraordinary referral network associated with its Sotheby's International Realty affiliation. "Our goal is to provide our buyer clients access to many of Maine's finest homes. Our listings are presented with unparalleled care, detail and professionalism" said Bob Stevens, Partner at Legacy Properties Sotheby's International Realty.

Legacy Properties Sotheby's International Realty recently celebrated its 7th anniversary since opening its door to the public in January 2006.

Legacy Properties Sotheby's International Realty - http://www.legacysir.com

About Legacy Properties Sotheby’s International Realty

"Maine: Our Seasonal Beauty" with guest Maine Artist, Bill Jewell

Chris Lynch (Legacy Properties Sotheby's International Realty) — Wed, 26 Dec 2012 09:34:01 -0800

Legacy Properties Sotheby’s International Realty, Maine’s leading Luxury Property company, is pleased to announce that it is celebrating its 7^th Anniversary at the start of 2013.

Come join us in our celebration as we welcome guest Maine Artist, Bill Jewell for the First Friday Art Walk on January 4^th, 2013, as he presents an array of seasonal work. Artwork will be available for consideration, as well as exclusive Maine lighthouse gift card sets. A business card raffle will take place for lift tickets to Mt. Abram and home game tickets to the Portland Pirates. Hors d'oeuvres & libations begin at 5pm. See you then!

What: Friday Art Walk - "Maine: Our Seasonal Beauty" with guest Maine Artist, Bill Jewell
When: January 4th, 2013, 5 - 8 pm
Where: Legacy Properties Sotheby's International Realty
Two City Center | Portland, ME | 04101 | www.LegacySIR.com

About the Artist

Bill Jewell, a native of Maine, grew up inspired by the sights and seascapes of the rugged rocky coast. For thirty seven years, Jewell has studied and explored the diversity of our country’s beauty; spanning from New England to California. Early in his career he started his own gallery on the corner of Milk and Pearl Street in Portland’s Old Port and since then has shown his work all around the country. Spending his career divided between both coasts, Jewell has developed an extensive body of work reflecting his travels. Many commissioned pieces reside in a variety of private and corporate collections including that of L.L. Bean, Unum and MEMIC, etc. Most recently, his love for both nature and process has lead him on a journey of developing unique material awareness as his paintings often portray pigments from locally found rocks and minerals which he then grinds down into painting pigments.

About Legacy Properties Sotheby’s International Realty

Real Estate: The Future Looks Bright

Chris Lynch (Legacy Properties Sotheby's International Realty) — Wed, 28 Nov 2012 11:38:09 -0800

With all of the uncertainty out there regarding the fiscal cliff and the future of our economy, it seems that Real Estate, once a drag on growth, is now propelling the economy.

Below is a collection of recent articles that shed a positive light on the future of the real estate market.

From CNN Money:

Home prices: Biggest rise in more than 2 years

From CNBC:

Builders Bump Up Thanks to Drop in Existing Home Supply

From Fiserv Case-Shiller Index:

After Six Years of Decline, U.S. Home Prices Find Their Footing

From USA Today:

By the numbers: Details on housing's rebound

From KCM Blog:

Luxury Housing Market Beginning to Surge

From Pymnts.com:

Home Prices Are Increasing; Many U.S. Markets Now on Path Toward Sustainable Recovery

And the Wall Street Journal is publishing articles titled:

"Housing Market Propels Economy" & "'Cliff' Fails to Dent Home Improvement"

As a leader in luxury Maine Real Estate, Legacy Properties Sotheby's International Realty offers an unmatched blend of local expertise, world-class home marketing power and property exposure. Our 50 plus licensed real estate agents specialize in Maine Coastal Real Estate, Maine Waterfront Property, Maine Oceanfront Real Estate and other beautiful homes for sale.

MAINE REAL ESTATE SALES JUMP BY DOUBLE DIGITS IN OCTOBER

Chris Lynch (Legacy Properties Sotheby's International Realty) — Tue, 20 Nov 2012 07:08:36 -0800

SOUTH PORTLAND (November 19, 2012)—Sales of single-family existing homes in Maine increased by an impressive 24.55 percent in October 2012. According to Maine Listings, 1,177 homes changed hands during October 2012, compared to 945 homes in October 2011. The median sales price (MSP) rose 3.33 percent to $170,500. The MSP indicates that half of the homes were sold for more and half sold for less.

The National Association of Realtors reports a 9.6 percent increase in nationwide home sales while the national MSP increased 10.9 percent to $178,700. Home sales in the regional Northeast are up 13.7 percent and the regional MSP rose 4.6 percent to $232,600.

Tina Lucas, 2012 President of the Maine Association of Realtors, said, “we are seeing across the board activity—first time home buyers, investors buying multi-family properties and higher priced homes selling as well. All categories of potential purchasers are getting into the market while the attractive pricing lasts. I believe that if this continues, as it appears poised to do, it will clearly demonstrate the bottom of the market has come and gone. However, sellers must be diligent with proper pricing, staging and maintenance, as buyers continue to be very particular. If the market continues to move in this positive direction, eventually it will shift to a more balanced, stable dynamic between buyers and sellers in the negotiation process.”

Below are two charts showing statistics for Maine and its 16 counties. The first chart lists statistics for the month of October only, statewide. The second chart compares the number of existing, single-family homes sold (units) and volume (MSP) during the months of August, September and October of 2011 and 2012.

Source: Maine Real Estate Information System, Inc. Note: MREIS, a subsidiary of the Maine Association of REALTORS, is a statewide Multiple Listing Service with over 4,100 licensees inputting active and sold property listing data. Statistics reflect properties reported as sold in the System within the time periods indicated.

Maine Real Estate: The Beat Goes ON!

Chris Lynch (Legacy Properties Sotheby's International Realty) — Tue, 13 Nov 2012 09:30:26 -0800

We have plenty of reasons to expect the real estate market in Maine to have taken a breather from its recent string of success. There had been constant chatter for more than a year predicting a real estate slow down in advance of the Presidential election. Despite some uncertainty, there seemed to be little, if any, impact before, during and after the election of 2012. There are continued concerns about the effects of the changes in the tax code including a new 3.8% capital gains tax emanating from the Health Care Reform Act (see article and video "The Truth About the 3.8% Tax" below) and expectations of a reduction in the tax deductibility of mortgage interest. Uncertainty is never a helpful backdrop to any financial market and historically the real estate activity would have been adversely impacted. With so many in New York, New Jersey and Connecticut (all among the top markets for Maine) having been without electricity, heat and Internet access, you would have thought one could hear the brakes screeching us to a halt. We should recognize that Maine, like many real estate markets in the US, also tends to feel a post-Halloween seasonal pause, even under the most certain political and economic conditions.

Well, I am pleased to report that "The Beat Goes ON!" It is hard to measure market activity over a short period of time given the inherent time lag (60 +/- days) between properties going "under contract" and properties actually closing. It is also not a perfect measure to use the client activity on our website (www.LegacySIR.com) as a gauge for general interest in the Maine real estate market, but it is not unreasonable to equate web activity with sales activity. Our web statistics compared to the same time period last year (October 15 - November 9) showed a very robust 33% gain in visitors. All of our other metrics demonstrated very strong gains as well with page views up 25% and unique visitors gaining 28%. Our time on site and bounce rate were also moving in the right direction. I must admit I was not expecting to see such a robust improvement given complexities of the moment.

Maine Listings (Maine Real Estate Information System) reported single family home sales for the month of September rose 8.5% compared to last year. Median home sale prices were also 7% stronger in what appears to be a sustainable trend. Although the official data for October will not be released for a week, our analysis indicates another impressive year-over-year gain for both Unit Volume Sold and Median Home Sale Price. We have been enjoying a steady improvement in units sold for well over a year as supply and demand rebalanced. We are confident that the recent trend in median sale price will also continue to press higher. It may not be in a straight line, but the trend seems to have enough momentum to withstand some unforeseen head winds.

With respect to high value homes ($1,000,000 +) in Maine, 2012 should be a better year in terms of unit volume sold, but will likely prove to be lagging a bit in terms of pricing metrics such as "closing price to original list price" and "closing price to most recent list price." In fact, we predict, based on the pending and sold data available, that 2012 will be the best year for high value home sales since 2007. If you recall my comments from a previous newsletter, the Maine real estate market moves from lower prices to higher prices, from south to north and from east to west. All of these trends are at work and speak to a continued recovery in the luxury property market in 2013.

If you share our passion for Maine Real Estate, I would encourage you to follow us on Facebook (www.facebook.com/legacysir) or Twitter (www.twitter.com/legacysir). We also have a growing visual presence on Pinterest at (www.pinterest.com/legacysir) through which we share our beautiful home and Maine lifestyle photography.

Except from our eNews. To view the full version, please go here:

http://legacyblog.legacysir.com/2012/11/13/maine-real-estate-the-beat-goes-on/

The Truth about the 3.8% Tax Associated with the Healthcare Reform Bill

Chris Lynch (Legacy Properties Sotheby's International Realty) — Mon, 12 Nov 2012 12:32:33 -0800

There has been a great deal of discussion regarding the impact of the 3.8% tax increase associated with the Health Care Reform Act. It is actively discussed as, and rumored to be, a transfer tax on all real estate transactions. While there is a tax increase provision of this bill scheduled to take effect on January 1, 2013, it is not a Real Estate Transfer Tax! The National Association of Realtors has provided both a comprehensive brochure complete with several comprehensive scenario analyses and a question and answer video which sheds more factual detail on the specific impact of this tax increase on real estate. It is the position of the National Association of Realtors that 97% of home sales in the United States will not be impacted by this tax increase. A few key points:

The purpose of the new 3.8% tax increase is to help sure up shortfalls in Medicare.
The tax will only apply to individuals who earn more than $200,000 a year and couples who earn more than $250,000 per year.
Eligible sales of primary residences will still be able take advantage of the $500,000 capital gains exclusion. The tax would only apply to gains above that threshold.
Capital gains on investment properties or second homes may be subject to this tax should ones income exceed the limits above.
As with all tax issues, you should consult a financial professional to analyze your personal tax situation.

At Legacy Properties Sotheby's International Realty, we recognize that our clients will likely be more impacted than the national average. Approximately 50% of our sales relate to second home transactions. Our client base often exceeds the income levels specified in the bill. We also have a very strong presence in selling homes that have been owned for multiple generations with a very low cost basis resulting in a significant capital gain upon closing. While we are not pleased with the impact of this tax on our clients, we are comforted by the many attributes which make Maine one of the greatest real estate values on the eastern seaboard. The lifestyle gain enjoyed by our friends and neighbors in Maine will go a long way to offset the impact of this legislative change. To read more, click here.

Maine Real Estate, 5 Tips to Sell Your Home

Chris Lynch (Legacy Properties Sotheby's International Realty) — Thu, 08 Nov 2012 06:45:19 -0800

1. Get rid of almost everything on the kitchen counters, except for the coffee maker. Make sure the kitchen is spotless, especially the appliances, floors and cabinets.

2. Light your house up! Clean and open your curtains and window coverings. Turn on all light fixtures. Put in higher wattage bulbs. Leave your dimmer switch on bright. All these steps make rooms look bigger.

3. Leave the house when it is being shown. Buyers can look more candidly if the seller is not present.

4. Thoroughly clean and declutter your house. This can’t be stressed enough. For tips on decluttering: http://organizedhome.com/cut-clutter/declutter-101-strategies-cut-clutter

5. Make sure to communicate with your real estate agent frequently, at least every 30 days to ensure your house is priced correctly and competitively.

Originally posted: http://legacyblog.legacysir.com/2012/10/08/5-home-selling-tips/

York Maine Riverfront Real Estate

Chris Lynch (Legacy Properties Sotheby's International Realty) — Wed, 10 Oct 2012 12:37:59 -0700

Tranquil setting at end of country lane, York River frontage with a dock, indoor pool for swimming even in cold weather, hot tub, separate barn/garage--what more could you ask for?! Beautiful stone fireplace in large living room, 3+ bedrooms, pretty river views & more.

Offered at $999,000

Ginny Whitney | Email | 207.451.3093

Click here to view the property on LegacySIR.com

Sotheby's Waterfront Real Estate Website

Chris Lynch (Legacy Properties Sotheby's International Realty) — Tue, 09 Oct 2012 09:54:35 -0700

PORTLAND, Maine (October 9, 2012) – Legacy Properties Sotheby’s International Realty today announced the implementation of an exciting new property marketing tool. All of the listed waterfront properties have been added to Sotheby’s International Realty^® brand’s Waterfront specialty market website.

The specialized website, which can be found at waterfrontpropertysir.com, matches the look and feel of the brand’s innovative website, sothebysrealty.com, and provides detailed Waterfront lifestyle and listing information. The website provides resources and enables buyers and sellers to search for the finest properties in this segment as well as the top sales professionals who represent them. It covers a full spectrum of lifestyle types and properties including: ocean and beach, riverfront, lakefront, island and boating. This site was launched with more than $13 billion of waterfront property listings worldwide.

“This in-depth focus into specialty markets that are of great interest to the consumer helps them in their search for a home that meets the demands of their lifestyle,” said Chris Lynch, owner of Legacy Properties Sotheby’s International Really. “Our clients with homes that cater to these lifestyles will enjoy this added avenue of exposure. No other real estate brand can bring together this level of comprehensive detail to the waterfront home market on a global basis.”

The Sotheby’s International Realty network currently has more than 12,000 sales associates located in approximately 625 offices in 44 countries and territories worldwide.

Legacy Properties Sotheby's International Realty - http://www.legacysir.com

Portland Maine Real Estate
Two City Center, Portland, Maine 04101
Telephone 207-780-8900
E-mail info@legacysir.com
Portland Office Real Estate Listings
Portland Office Realtors

Kennebunk Maine Real Estate
150 Port Road, Kennebunk, Maine 04043
Telephone 207-967-0934
Kennebunk Office Listings
Kennebunk Office Realtors

Brunswick Maine Real Estate
141 Maine Street, Brunswick, Maine 04011
Telephone 207-729-2820
Brunswick Office Listings
Brunswick Office Realtors

Camden Maine Real Estate
46 Bayview Street, Camden, Maine 04843
Telephone 207-230-1003
Camden Office Listings
Camden Office Realtors

Falmouth Maine Real Estate

Chris Lynch (Legacy Properties Sotheby's International Realty) — Sun, 07 Oct 2012 06:45:26 -0700

Artfully blending livability with grandeur. Plenty of space and amenities to entertain the soccer team and the executive team! The entire first floor is open-concept for hosting both casual or elegant events. This rare find in center Falmouth provides a 2-acre private lot which is perfect for pool/basketball court or grilling center. The dreamy gourmet kitchen has all Viking appliances and ample preparation/serving counters, walk-in pantry, red birch cabinets. Eat-in area is wrapped with windows with views of the private backyard. All 4 bedrooms are on 2nd level with bonus/media room including wet bar. Central AC/propane heat system includes 2 state of the art Lennox units with electronic air cleaner & humidifier. With 3-car garage, 2 driveway entrances and adjacent conservation land, this property feels like country living yet is only 5- 10 minutes from amenities and the award winning Falmouth schools.

Offered at $925,000

Click here to view the property on LegacySIR.com

Maine Real Estate - Wiscasset Estate & Vineyard

Chris Lynch (Legacy Properties Sotheby's International Realty) — Thu, 27 Sep 2012 11:17:30 -0700

DayBreak Estate located on the coast in Wiscasset, the "Prettiest Village in Maine," is a circa 1928 colonial revival built to exacting standards using superior materials to capture the best elements of Georgian and Federal styles. This village waterfront estate only a 7 minute walk to downtown encompasses the manor home, guest cottage, vineyard, and acres of formal gardens with hundreds of roses, lavender and peonies, and other specialty flowers.

The main house has ten rooms with five bedrooms, office, butlers pantry with original call system, all rooms except three have water views. Marble thresholds and window surrounds, three palladium in vestibule and foyer, grand entrance staircase with carved balustrade, three working fireplaces one of which is in the library.

This beautiful and unique property is currently a private residence with working vineyard, antique sales, and has been a successful event venue for weddings and corporate receptions and therefore offers multiple opportunities including a potential B & B with under cover parking for up to 8 cars.

http://www.legacysir.com/maine-real-estate/106-Bath-Road-Wiscasset-maine-04578/1069250/

Maine Real Estate - 3rd Maine Home & Design Cape Elizabeth Kitchen Tour

Chris Lynch (Legacy Properties Sotheby's International Realty) — Fri, 07 Sep 2012 10:58:14 -0700

Portland, Maine – Cape, Elizabeth, Maine (September 6, 2012) – Maine Real Estate - Legacy Properties Sotheby’s International Realty, Maine’s leading Luxury Property company, is pleased to sponsor the 3rd Maine Home & Design Cape Elizabeth Kitchen Tour.

This popular event invites tour-goers into some of Cape Elizabeth's most captivating homes to get a glimpse of some spectacular kitchens. All proceeds support the Cape Elizabeth Education Foundation.

“This is the third time we have sponsored this event,” said Chris Lynch, President of Legacy Properties Sotheby’s International. “We really enjoy being involved in charitable events in our local area, and all of Maine for that matter. It’s important that we as a company, and individuals, give back to our community. ”

Cape Elizabeth Education Foundation (CEEF) is a charitable, nonprofit organization dedicated to promoting partnerships between private funding and public education in Cape Elizabeth. CEEF was formed in 2001 by a group of concerned citizens and educators representing a cross-section of the Cape community. Each year CEEF considers grant applications from teachers, administrators, teacher-student teams, Cape resident-educator teams, and from existing foundations. CEEF is committed to fostering innovation and excellence in the Cape Elizabeth school district.

Legacy Properties Sotheby's International Realty

About Legacy Properties Sotheby’s International Realty

Legacy Properties SIR Sponsors Run with the Ducks 5K

Chris Lynch (Legacy Properties Sotheby's International Realty) — Mon, 20 Aug 2012 11:15:06 -0700

Kennebunk, Maine (August 20, 2012) –Maine Real Estate - Legacy Properties Sotheby’s International Realty, Maine’s leading Luxury Property company, is pleased to sponsor the 2012 Run with the Ducks 5k Road Race in Kennebunk, Maine.

The 5K starts at Legacy Properties Sotheby’s International Realty Kennebunk office at 150 Port Road, loops around Kennebunk Beach and ends on Western Ave. The award ceremonies follow and will be held at Federal Jack's Brew Pub. The first 100 runners to sign up get t-shirts. Proceeds benefit the Kennebunk Portside Rotary, a non-profit service organization.

“This is the second year we have sponsored the race and we expect 150-200 runners,” said Karen Schlegel, Senior Vice President of Legacy Properties Sotheby’s International. “This event attracts a large group of runners that run the circuit throughout the state of Maine.”

Runners can sign up online at: http://www.active.com/running/kennebunk-me/run-with-the-ducks-5k-road-race-2012 Registration is open through Wednesday, August 22, at 5pm. The race is Saturday, August 25^th at 9am.

The Kennebunk Portside Rotary Club was chartered in 1990 and is proud to be a part of Rotary International, a humanitarian service organization with 1.2 million members of more than 129,000 Rotary clubs in 161 countries. The Rotarians are business and professional leaders who volunteer their time and resources to help others in local communities and throughout the world. Meetings are on Tuesday mornings at 7:15 a.m. at the Village Fire Station on North Street in Kennebunkport.

Legacy Properties Sotheby's International Realty - http://www.legacysir.com

About Legacy Properties Sotheby’s International Realty