Hear The Question Daily..."Got Anything Cheap, Nothing Special, Doesn't Have To be Large Or Filled With Fine Features...Just Want To Own Something, Anything In Maine."
The need to just own something in Maine is a strong one. Motivation? If all heck broke loose where John or Jane Real Estate Buyer live now, they have a small parcel of land or a second home to retreat to in a hurry. Recreational value of local property is extremely high while the price tag for it is incredible low in comparision to where the buyer hangs his hat at the end of the day now. Property is so inexpensive compared to the rest of the world that buyers feel like a kid in a candy store. They want to, and can buy multiple properties due to the real estate dollar's buying power in Maine!
Last week closed on an acre building lot in prime recreational country with power and year round paved side road frontage for under $2500. What was wrong with it? Nothing...seller had purchased long long ago for around $1000. In Northern Maine, property values keep track with inflation but you do not see $200,000 spikes up and down like parts of the country. Heck, you don't see alot of $200,000 property price tags for that matter. Everything you know real estate value wise, divide by three. Stock brokers also indicate there are customers with little money but a strong desire to own shares in something, anything to round out the meager portfolio. Minor league players and probably why penny stocks were popular awhile back. You can be a player with little green stuff. Going after the small potato buyer is the bread and butter of the Northern Maine / Aroostook County real estate broker. The higher the price, the thinner the buyers is the old adage. It applies in Maine real estate sales and is why Maine is holding its own and parts are ahead of sale projections despite the gloom and doom blanket end of the world real estate mentality of many major media outlets and brokers themselves nationwide. The National Association of Realtors reminds the viewing, listening, reading public that "Contact a local REALTOR....every market is different." In northern maine, with 11 people per square mile you can buy alot of land for a little money and enjoy not having to lock your door, being able to get involved in vibrant small rural communities with lots of local pride, and no better place dollar for dollar to obtain high quality real estate and lots of it for little money. That's Aroostook County in particular!