Eliot 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: 03903

Location Characteristics: Eliot is a town in York County, incorporated on March 1, 1810 from a portion of Kittery.

Settled in the 1630's it was part of the Piscataqua Plantation created in 1647. Its many historic sites include Maine's first Quaker Meetinghouse built in 1776.

A growing residential community serving the Kittery and Portsmouth areas, its population expanded by almost 12 percent in the 1990-2000 decade.

The population, at the time of the 2000 census, was 5,954.

County: York ~ School Dist/Dept: ~ MSAD 35 ~ Senate District: 1 ~ House District: 148 ~ Congressional District: 1 ~ Population: 5954 ~ Area: 20.3 sq miles ~ Pop. Density: 302/sq mile ~ Longitude: W 70:47:22 ~ Latitude: N 43:08:49

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