Ogunquit 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: 03907

Location Characteristics: Ogunquit is a town in York County, incorporated on July 1, 1980 from a portion of the town of Wells, thus its early history is that of Wells.

Ogunquit was a village corporation and functioned for the most part as a town of its own, supporting its own police, fire, highway and sewer departments.

The town is a well known actors and artists colony, featuring the historic Ogunquit Playhouse and beautiful beaches.

Located on U.S. Route 1 and Interstate 95, the town is easily accessible from Boston and Portland.

Ogunquit offers a little something for everyone. The white sandy coast forms a beautiful cove that stretches for 3 miles, which contains 3 separate beaches, each with their own parking. Restaurants, lounges, gift shops, inns, hotels, motels and guest houses line the streets. And, for those interested in the arts, Ogunquit is well known for its artistic community; with its galleries, private studios and summer theatre.

County: York ~ School Dist/Dept: Wells-Ogunquit CSD
Senate District: 1 ~ House District: 149 ~ Congressional District: 1

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