Waterville, Maine Real Estate Market

Well, a lot of people are wondering how our market is doing. We have weathered the storm pretty weel. I truly believe had the media not been pounding into peoples head how bad the market is, we would have continued just fine. It was the constant bombardment of how bad the market was in those overpriced area that makes people wonder if it is happening here. We had our best year in 2006 and it looked like 2007 would be another record breaking year. That was until the last quarter, thats when the effects of all the media kicked in. We were very quiet in December(maybe it was the record breaking snowstorms) and the phones slowed down. January 2008 has picked up and things appear to be rebounding. With T-Mobile in the area providing lots of jobs and the revitilization of the Hathaway building starting, it appears we may have a good year. We did not see the record increases in home prices that other areas experienced so on the flip side hopefully we won't see the drastic drops that other areas are currently experiencing. In Central Maine, the real estate was much more stable and we had much more gradual increases. All in all, I believe that there will be an increase in foreclosure activity in our area, but with the recent cut in interest rates by the Fed, I think we should see a rebound in business to a more "normal" market. This is a great time to buy real estate in the Greater Waterville Maine area.