A recent spurt of settlements, homes under agreement, showings and offers written certainly is a welcomed change of pace from the past three-four years. By no means am I prepared to call it a trend, but much like the first signs of spring that come every year after a long winter, perhaps this is a signal that we are headed to a more stable economic environment.
There have been a number of articles in the local and national press about abundant housing opportunities. Prices seem to have stabilized, more sellers are listening to reduced offers (as buyers still have the advantage) and interest rates are still low. I have been saying that there wouldn't be a turn-around until people had a comfort level regarding their job security. No one would, or should, even consider making a major investment if they were uncertain if they would have a job in the next year. But there has been evidence of manufacturers hiring, or planning to do so in the near future, as their business increases and the Wall Street rebound has helped many potential higher-income buyers.
A recent Wall Street Journal article, Is It Time to Buy?, shows that there is a difference between the local and national markets. To a great degree, the western Maine market is tied to the health of the Boston and New York metropolitan areas and has no relation to the 'boom and bust' regions of the south and west. So as the economies to our south improve, so should our region. If the amount of early Vacation Rental bookings is an indicator, then things seem to be headed in the right direction.
Perhaps this spring and summer, buyer interest will once again return to Kezar Lake, Lovell and the surrounding towns where a number of beautiful properties, in a wide range of prices, are available. Please do not hesitate to call or feel free to visit KezarRealty.com!