Here comes yet another from-awayer

[Sunday1]

I sent the info back via DM, La Cav.

And you're on the right track....start with a lobster roll and you'll be hooked in no-time.

[la_cavalière]

I've seen listings for a few rental condos that look fairly promising, but not quite perfect. Hopefully there will be more available when we go up to Portland to look for a place in person (probably not until late January or early February).

It is still frustrating to think that we will be selling our home here in a down market, and by the time we are more permanently settled home prices will probably be back up again. We always seem to buy high and sell low (sigh).

It's hard to swallow shelling out probably $50,000+ over two years in rent that we will never see again. Do you really think we'd lose more than that if we bought a place and resold it in two years? I know the taxes and HOA fees can be high, but maybe by the end of 2010 the market will be on the way up. We're not looking to make a ton of money; we just don't want to lose our shirts.

[WhoFanMe]

Real estate is local, some parts of the state (and country) are doing better than others. Portland condos have been hard hit due to the amount of inventory available vs. the number sold over the previous 12 months, something we call an absorption report. This has helped reduce prices dramatically over the past few years and my outlook for 2010 is for this trend to continue and perhaps accelerate. The Fed has been purchasing mortgage-backed securities which is keeping interest rates low, that program will end next year and should push interest rates higher, which does not bode well for price appreciation. Most of the foreclosure activity we've seen in Maine is not the result of the 2008 recession, those homes and condos might start to hit the market next year, further pushing down prices. Most of the "experts" are calling for a "bottom" soon, but the subsequent appreciation over the next decade might resemble the 1990s (average 2-4% per year), rather than the first half of the decade (15% year over year which saw prices double in 5 years). The other thing to keep in mind is your expenses in selling are much higher than in buying. You need to factor that in to your proceeds (or deficit) when looking at the entire picture. Real estate is still a good long term investment, but not for a 24 month time horizon. As you stated, you will be able to benefit by deducting your mortgage interest and property taxes and if you plan to return to the area someday you will have a place to stay. You may also qualify for the $6500 tax credit if you've lived in your previous residence for 5 of the last 8 years.

[flycessna]

Originally Posted by la_cavalière

A few weeks ago, my DH casually mentioned a potential job opportunity in Portland, Maine. My response: MAINE??!!! (insert you've-got-to-be-kidding inflection.) Admittedly, this Midwesterner knew next to nothing about New England, outside of brief visits to Boston and Connecticut.

My curiosity piqued, I turned to this forum to get the skinny straight from the Mainers' mouths – um, fingers. I delved into every dusty corner here to gain glimpses of this foreign (to me anyway) land. I'd like to thank all of you for sharing your love and lessons on Maine. I can now feel the snow crunching under my Bean boots, hear the waves crashing into the cliffs at the Portland Head Light, see the lobster boats bobbing in Casco Bay and even taste the pale ale at Gritty McDuff's.

That job opportunity my DH mentioned is now a reality. We are heading from Missouri to Portland, Maine in a couple months for a two-year stint. We can't wait! We will be looking for a place near the Eastern Prom or the West End.

Although many of my questions have been answered while perusing this forum, I'm sure I will have many more in the weeks and months to come. Here are a few to start:

DH will likely be driving to Augusta 1-2 times a week. How is the commute?

The project will last about two years. Does it make any sense to buy instead of rent? I am a little worried about finding a nice rental condo that will accept our two beagles (even though they are perfect angels).

I keep reading about lobster, scallops, clams, haddock, etc. But I don't eat seafood or fish. Can a non-seafood lover be happy in Maine? Better yet, can I learn to like seafood?

Merci mille fois!

Driving to augusta is east from Portland and Maine doesn't really have traffic related issues.

you would be fine renting.. It could take months alone just to find something to buy.. other then cost you should be able to find something to rent.. you mentioned condo's but there might be an opportuntiy to rent a home as there are many still on market and are vacant.. that might solve the dog issue.

DONT WORRY about food.. Portland Maine has some of the best food in the nation and is quickly becoming one of the best places to eat in the north east.


http://www.nytimes.com/2009/09/16/dining/16chefs.html

[la_cavalière]

Update on our move to Maine:

I am joining my DH Portland in a couple weeks to check it out and look for places to rent. First stop will be L.L. Bean, as I am woefully ill-equipped for winter weather. Any must-have recommendations for winter gear?

I have found several rental places to look at in the city of Portland, although none fits every item on our wish list. We'd love a place in the West End, East End or Old Port, but it seems very difficult to find a nice place to rent with a private patio/deck/yard in these neighborhoods, so we have expanded our search a bit to other areas. We're looking for 3 bedrooms or a large 2-bedroom, 2 bathrooms, nicely updated/renovated, patio or large deck, off-street parking for two cars (garage a plus), and are willing to pay up to $2,000 depending on the property. (We also have two well-behaved small dogs.)

We are hoping to move in March. I'm not sure if we should jump on a place that doesn't fit all of our criteria or if we should take a short-term rental and hope more places will become available in the spring...?

[City-fix]

Hi all, I hope you don't mind my chiming in with something slightly different but hopefully relevant: my DH and I are starting to plan a move to the Portland area within the next year or two, to be closer to family and to get back to a life with more restaurants and live music than small-town New Hampshire can offer. What I'm wondering is whether any of you have seen or heard data about the climate, specifically sunny vs. cloudy days. We're in west central NH and I wonder if the coast is generally clouded/hazier. I've been following parallel weather reports
for some time and have noticed it frequently gives a "feels-like" temperature
about 5-10 degrees lower than the reported temperature. Any thoughts
on this and any warnings for those who suffer a bit from the winter blues?

Thanks so much!