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Ocean, Lake, River or Stream - Maine Waterfront Property New England's Lowest Prices

 

Maine Lakes and Ponds

Maine Wild Trout Ponds

 

Looking for an affordable waterfront vacation property or a second home spot in the northeastern United States, Maine is your best buy for both purchase price and lower development costs. In some areas of Maine it is currently possible to purchase a lakefront lot for as little as $30,000. Some fine riverfront land can be had for as little as $20,000. Salt water property along the northern Maine coast on bays and tidal rivers can be purchased under $40,000. Bold ocean front is cheap when compared to the other New England states. In Maine's northern interior it is not uncommon to find a 40 acre backwoods lot with a little stream flowing through it for under $35,000. Some of the land for sale is offered with reasonable owner financing.

Compared to other New England states, rural areas of Maine have less permitting and the associated hassle and fees. The unorganized territories of Maine have very low property tax rates and a standardized low cost building permit application process. The small organized municipalities are not subject to code requirements found in the larger towns and cities. Building what you want, the way you want to, is still possible here.

 

Union River

Maine scenic rivers

 

Most of the rural areas have a major service town or small city to provide culture, shopping and needed services. Areas near Augusta, Waterville, Newport, Bangor, Lincoln, Millinocket, and Houlton are all easily accessible along I-95. Drive a short distance out of these service towns, and you will begin to find waterfront land prices mentioned above.

Along the coast of Maine and Route 1, service towns like Rockland, Rockport, Camden, Belfast, Bucksport, Blue Hill, Ellsworth, Machias, Lubec and Eastport have many nearby rural communities with clean and scenic rivers, lakes, ponds and the most undeveloped coastline you can find in the northeast.

 

Maine Bold Coast

Maine's Bold Coastline

 

 

Of all the New England states, Maine is blessed with an abundance of waterfront in nearly every region of the state. The costs savings, cleaner environment, and freedom to do your own thing make the longer drive well worth it.

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Maine Waterfront Real Estate Market in Full Recovery

In 2006 and 2007 Maine experienced the hottest waterfront market in history.  Ocean, lake, pond and river properties for sale were benefiting from the boom of real estate values in Massachusetts, New Hampshire, Connecticut and the rest of New England.  Out of state buyers were flocking to Maine with cash from home equity loans on their primary residences.

In 2011 the waterfront market bottomed out based on the number of sold transactions.  Since 2011 we have seen a slow but steady increase in the number of single family waterfront transactions per year.  For example, in 2014 Penobscot County had seen an 80% increase in the number of sold transactions compared to 2011.

Maine Bold Coast

What are some of the causes for the increase in the number of Maine waterfront properties sold?

  1. Record high levels of available inventory. Buyers have had a great selection of properties to choose from.
  2. Prices are at the most affordable levels since the great recession started. Some locations are seeing properties selling for 25% less than the peak values of 2006-2007.
  3. Record low interest rates. Current 30 year fixed rates are under 4%.
  4. Record Stock Market Levels. Buyers are taking stock market gains and investing in Maine waterfront property.
  5. Pent up demand. Buyers are starting to see the changing tide in the Maine waterfront market and are getting off the fence to take advantage of these conditions.

Why buy now?

Buyer activity for the winter months of 2015 has been the strongest we've seen at United Country McPhail Realty since 2007.

New listings coming on the market for the first two months of 2015 are down 11% compared to 2014 and down 7% compared to 2013.

If you are a buyer that has been sitting on the fence watching Maine waterfront for sale, timing is everything.  The balance of supply and demand is moving away from oversupply to a more balanced market.  These conditions will help to provide an upward pressure on values, especially on those waterfront properties that are priced aggressively and have the popular features buyers are looking for.

Maine Lakes and Ponds

If you are an owner looking to sell your waterfront property, it is more critical than ever to hire the right Realtor.  What makes for the best waterfront realtor?  The following are some of the criteria to consider:

  1. A real estate company with a strong online marketing program that focuses on lifestyle property types. A generic, cookie cutter, one size fits all marketing program will not work well.
  2. A company with a strong print advertising campaign designed to reach buyers of lifestyle properties. Another part of a strong foundation. Affluent buyers still like to read print.
  3. A brokerage that understands SEO and can help your property stand out from the crowd. It takes more than just a standard web site to be found first among the many.
  4. A real estate company with a large database of buyers that can be marketed to from day one.
  5. A real estate company that is part of an international network of lifestyle brokers.
  6. A real estate company with years of experience that understands the best marketing, pricing and negotiating strategies to best serve their client's needs.
  7. A real estate company that is continually staying on the cutting edge of new marketing ideas and technology.

For a free, no obligation consultation, give the United Country McPhail Realty team a call at 207-794-4338 to see the power of a custom lifestyle marketing program for your Maine waterfront property.