Memories in Maine
Real estate in Maine isn’t just about the square footage within a home, but the memories that are obtained within the home’s walls.
“Most of the high-end properties around here are not primary residences,” explains Story Litchfield, broker at LandVest, Inc. “They might not even be a second home. They might be a third or fourth home.”
According to Litchfield, owners’ priorities are different when they visit their vacation homes in Maine. From May to October families come to spend quality time with one another. “It’s just about being with family.”
“The second-home market is a driving force on both Mount Desert Island and Blue Hill, Maine,” explains Jane Daniels, broker at the Davis Agency. There are currently 46 homes available on Mount Desert Island that start at $1 million and 26 homes for sale on the Blue Hill Peninsula from $1 million to $7 million.
While some markets lend themselves to renting during off-peak seasons, buyers in Maine are not buying to rent, adds Daniels. The owners in this market tend to be older, retired and ready to take advantage of the family compound idea.
Buyers and their families also look forward to coming back year after year, generation after generation. Litchfield’s listings, which she says can’t be duplicated and are rarely available, go for a minimum of $2 million and don’t tend to turn over often.
“The homes will be held for a very long time by one owner and handed down from one generation to another,” says Litchfield.
—Lauren Varga
Photo courtesy LandVest
[...] Memories in Maine By Lauren Varga [...]
[...] Memories in Maine By Lauren Varga [...]