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Scarborough Market Analysis

By
Real Estate Agent with Ogunquit Sunrise Properties
It is now 2008 and buyers are realizing that it is now or never....prices have come down and interest rates are still doing well...Many buyers are hoping to come into the Maine market and get a lot for their money....but the truth is that many sellers have already marked prices as low as they possibly can....Sellers today are having to go to closing with some cash in order to clear title...

Buyers may want to understand the market that they are shopping in first of all.....for example Biddeford is a little different from Ogunquit....and the prices will dictate that....

It is nice to see buyers doing their homework over the internet before seeking to see a property, but keep in mind that many properties out there are in an up side down loan and sellers can decrease their prices just so far....

It is important for agents to educate their buyers, for example, a seller has a large mortgage on a property...it is important to know this before trying to just make a low ball offer....in todays market many sellers are either just breaking even or needing to come to the closing with cash.


ZIP Code: 04074

Location Characteristics: Scarborough is a town in Cumberland County, settled in 1630 and incorporated on July 14, 1658 from the towns of Black Point and Blue Point, and nearby islands.

It is the birthplace of Maine's first governor and advocate for statehood, William King.

Winslow Homer lived and painted in Prout's Neck, a somewhat isolated peninsula that now is home to a bird sanctuary donated by the artist's brother, Charles. Homer's work is often featured at the Portland Museum of Art.

The town's fine beaches and the Scarborough Downs race track and off-track betting facility are attractions for many.

Scarborough Marsh, operated by the Maine Audubon Society, offers guided canoe trips, canoe rentals, bird walks and a museum and visitor center at Maine's largest salt marsh. The nearby Scarborough River provides recreational boating opportunities and open space.

A suburb of Portland, the rapidly growing community now ranks as tenth most populous in Maine according to the 2000 U.S. Census, up from 13th place in 1990, having grown almost 36 percent in ten years.

Scarborough is conveniently located in southern Maine, approximately 7 miles south of the City of Portland. It is just a short drive to Portland and the Maine Mall with easy access to the Maine Turnpike, Portland Jetport and now passenger rail service to Boston and points south. Scarborough is a diverse community with a commitment to the quality of life and the environment.

Scarborough offers lovely sandy beaches and the rocky coastline made famous by a local artist, Winslow Homer. The largest saltwater marsh in Maine is located within our boundaries along with Rachel Carson Wildlife lands.

We are a suburban community that offers open spaces, parks and recreational areas for our residents and visitors. We also have a balance with our commercial businesses. The newest area for businesses to locate in Scarborough is along the Haigis Parkway, located right at Exit 6 of the Maine Turnpike.

County: Cumberland ~ School Dist/Dept: Scarborough School Department ~ Senate District: 6 , 7 ~ House District: 127 , 128 ~ Congressional District: 1
Population: 16970 ~ Area: 54.0 sq miles
Pop. Density: 356/sq mile ~ Longitude: W 70:21:40
Latitude: N 43:34:54

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