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Maine has a 'depressed economy', and has had this condition for decades.
The recent economy of the nation is not really having much effect here, since locally it was already 'there'.
Abandoned farms sell at auction for low prices.
I have been looking at apartment buildings lately. 4 unit properties, 6 unit properties, all filled with tenants and showing a steady profit each month. they market for $100k to $175k.
So when someone sells their home in California, located in tract development that has become a slum, and they have $250k in their pocket. Wondering if they could possible purchase a 2bdrm on a 50foot lot in a high crime slum.
We laugh.
$100k can buy you 10 acres, a 3 bdrm farmhouse with attached barn.
Put the big wad of money away, this is a depressed region. Never tell a realtor that you have $250k to spend. Say that you have $50k, and then shop around.
Read through this forum.
We have seen folks move to Maine, shop around and find homes for $40k.
If you were to openly say that you had $250k, the realtors will find you a home. They will suck up all your money, and only later will you realize that you could have spent half that much money.
Thanks beekeeper. I guess the real estate web sites for properties around portland do not have these deals on them, given that a decent 4bdr house sells for 300K+.
What resource can I use to find these deals? I'm not interested in investment real estate, just a nice home for me and my family.
There is a phrase, used often on these forums, describing a fictional line between Southern urban Maine, and Northern rural Maine. I do not recall what the phrase is, at the moment.
I would hate to type such a foul phrase since it's mention does tend to get some folks upset.
However there does exist a big difference betwixt these two regions of Maine.
I recommend folks come to Maine. Drive around, see the sights, enjoy the smells. Talk to folks, ...
I did.
I came to Maine looking for a home. I contacted realtors before I came, and they handed me big stacks of MLS sheets of places for me to go look at. Wonderful people really.
But after repeated trips, shopping for a home, I kept seeing places that were too expensive. Every MLS sheet handed to me from any of those nice realtors, was simply too expensive.
After many trips, I finally 'broke down' and began talking to locals.
My eyes were opened!
Local folk talk!
They were very encouraged by a person asking about their communities in person. I was given many personal recommendations of folks who had homes and land for sale here.
If you need 'resources' then, you do have the WWW, and many realtors list themselves on the WWW. Many of them are very friendly and will gladly give you MLS sheets so you can drive yourself silly running all around the state looking at places for sale.
So you're saying that these deals exist in the more rural places in maine if you talk to the locals, or they exist everywhere in maine if you talk to the locals?
I'm in Presque Isle right now, moving to Portland.
So you're saying that these deals exist in the more rural places in maine if you talk to the locals, or they exist everywhere in maine if you talk to the locals?
I'm in Presque Isle right now, moving to Portland.
From my observation deals do exist in Maine.
I have not tried everywhere in Maine, so I can not say about everywhere in Maine.
I can tell you about what I have seen.
The forester that I bought my land from had a four page list of lots that he owned back when I was shopping. I do not know what he has today.
In my case, I did try to work with a few realtors.
I also ended up talking to locals. I found Mainers to be very open and encouraging to newcomers. And through the encouragement that I recieved from Maine locals, I was pointed toward much lower priced homes and land for sale.
Through that process I made a connection with a forester who buys tracts from logging companies. He clear cuts the trees, and then manages the treegrowth, while folks on occasion make him offers on his tracts.
I have been fairly open here about what I paid for my land. When you see a realtor listing land for the same price range, tell us about it. I am not going to hold my breath though.
Now there has been one realtor [NMLM] who has posted auction notices here.
When a house sells at auction, it truly defines 'market value' [in my mind]. Folks bid what it is worth, and not a penny more. Not what a salesman can convince you to pay. But what it is worth.
Look at the auctions and you see what houses are truly worth here [which tends to be less than the MLS listings].
IMHO, NMLM is a great guy
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