Archive for November, 2008
Maine Lakefront Real Estate – Keeping Up With “The Times”
November 29th, 2008 categories: Observations and Commentary
While it seems sometimes that staying in touch with the Maine lakefront real estate market is all we do around here, I try to carve out time every Friday to look at a weekly feature section in the New York Times called “Escapes”. I always seem to find something of interest having to do with real estate, travel, or lifestyles. This recent Friday was no exception.
On the first page you can read about scuba diving in a salt water lake in Utah, hunting for antiques in the Atlanta area, and attending a real estate auction in Florida where they sold 33 condos in a 307 unit building in West Palm Beach. But it was inside this section that I found articles of more interest and wanted to pass them along to you.
One article discusses the current mortgage loan market as it relates to the second home market. Now that prices in the second home market are starting to ease a bit, buyers are finding it a bit tougher to get financing. Mortgage lenders are actually looking at tax returns, income statements, and debt ratios. They also have a tendency to look at second homes a little differently than primary residences. Get a handle on some of the current lending issues in this second home market by reading “The Tighter Loan Market“.
The second article that I wanted to pass along tells the story of a real estate “voyeur” – a woman who just loves to drive around looking at really old (and sometimes distressed) homes, imagining buying them cheap and bringing them back to life. She will spend a weekend perusing listings online, map out her drive-by agenda, then hit the road. It’s all good fun to her and also hones her skills for the day when her bank account will allow her to take the plunge on one of these older beauties. Read this fun article entitled “House Hunting, Catch and Release Style“.
If you are interested in perusing Maine lakefront real estate, go no further than clicking on our Lakefront Locator. It will take you where you want to go by giving you access to all the current lakefront property listed in the state of Maine. Happy hunting and happy clicking!
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Maine Waterfront Property – Naples Bridge Plans Have Low Cost, High Approval
November 22nd, 2008 categories: Sebago Lakes Region
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It seems that plans for finding a solution to repairing or replacing the aging swing bridge that spans the waters of Long Lake and Brandy Pond in Naples are alive and well.
A report in this week’s Bridgton News tells of a repair plan that would solve saftey issues, put off any significant construction issues for another ten years, and cost a manageable $550,000.
Both local officials and members of the grassroots organization “Save the Bridge” find a lot to like with this new proposal and local state representative Rich Cebra will be talking with folks on the Transportation Committee in Augusta to try and get them on board.
This new proposal would basically repair the existing bridge for a fraction of the cost of replacing the existing bridge with either a fixed span bridge or a drawbridge. Those proposals were projected to cost, at a minimum, $7 million and had locals up in arms because the state was pushing for the fixed span option while many locals were vigorous in their support for a more expensive drawbridge.
We have posted the full article in our Lake News. Read all about it here.
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Maine Lakefront Real Estate – Getting Rid of Undesirables
November 18th, 2008 categories: Maine Waterfront Living
Now that the leaves are off the trees and we’ve seen a few snowflakes dance in the air, lakefront property owners are probably thinking more about the upcoming holidays than they are their place on the lake. But the offseason is a great time for reflection and planning, and getting educated about the natural world around us is a responsibility we all share.If you have even a passing interest in Maine lakes and ponds, by now you have probably heard about invasive aqauatic plants that are not native to Maine. Maine has over 6000 lakes and ponds and keeping an eye on them is a big job. There is an organized volunteer lakes monitoring program that does a great job keeping tabs on these bodies of water and one of the primary things they are on the lookout for is invasive aquatic plant species.
Maine has aquatic plants that are native to the state and pose no threat to either the eco-system or the enjoyment of lakes and ponds by the public and property owners. But these invasive non-native plants are another thing altogether. These invasive species can drive out the native ones, make shore areas unswimmable and foul boat propellers, rob oxygen from the water thereby impacting the fishery, and upset the natural eco-system that has been in balance for years and years.
Lake monitoring volunteers are making a huge effort to identify areas of invasion and work with professionals to inhibit non-native growth and work toward eradication. Everyone who lives on a lake or vacations on a lake can be a volunteer and help in this cause. But first you must educate yourself to know what you’re looking for. And once you know what you’re looking for you need to know what to do when you identify “an invasive”.
The Maine Center For Invasive Aquatic Plants and the Maine Volunteer Lake Monitoring Program have published a most informative book that details not only Maine’s eleven most unwanted invasive aquatic plants, but also gives information about the native species that are okay, but may look like the bad guys. There’s also a section about non-native animal species like rusty crayfish and mitten crabs. You can be on the lookout for these badboys, too. They not only tell you how to identify these plants and animals, but also tell you how to collect them and who to call.
You can order this book for $20 through the MVLM website or you can download for free here. Take a look and see if you might want to be a volunteer lake monitor the next time summer rolls around and help in the effort to rid our good Maine waters of these undesirables.
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Maine Waterfront Property – Water Runoff Awareness
November 14th, 2008 categories: Maine Waterfront Living
The Maine Department of Environmental Protection estimates that between 40% and 70% of rain and snow melt that falls on a Maine residential property runs off and finds its way to streams, rivers, and lakes. Because of their proximity to the water, lakefront property owners play an especially important role in controling runoff.
Make sure that water runs off your driveway and walkways into vegetated areas. If you have gutters and a downspout, direct the water into vegetated areas or into a rain barrel.
Soil erosion is the primary pollutant that is carried into waterways via runoff. Soil contains phosphorus which encourages aquatic plant growth and algae blooms. The soil itself can be harmful to fish habitats, affect boating and swimming areas, and generally degrade the quality and clarity of the water. Try to repair and stabilize places where you see soil erosion taking place and plant vegetative buffers between your property and the water.
When doing lawn and garden work be careful not to overuse or misuse fertilizers or pesticides. Better yet, don’t use them at all. Use organic mulch and compost your yard waste. Also, make sure to properly store and dispose of any chemicals you might use around your property including paint, varnishes, cleaning products, bleach, solvents, oil, and detergents.
The United States DEP has published an article that is a handy reference to help all homeowners do their part to keep Maine lakes and waterways clean and pollution-free. Click here to see the entire article.
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Maine Lakefront Real Estate – No Go On Casino
November 10th, 2008 categories: Observations and Commentary
Last Tuesday the voters of Maine rejected a proposal to allow the building of a resort-casino in Oxford County, probably somewhere along Route 26 in Oxford. The measure lost by a 55% to 45% differential.
Proponents of the proposal feel strongly that Mainers have missed out on an opportunity to bring good paying jobs to the state while opponents hope this rejection will dampen further attempts by the gaming industry to site a casino in Maine. Similar proposals to bring a casino to Maine have been voted down in recent years.
This latest vote is just further evidence that most Mainers don’t really like the idea of Maine being the location for a big-time casino and resort. From the vote tabulations it would seem that the casino got its strongest support from the neighborhood that it wanted to locate in – Oxford County – but that fully 13 of the state’s 16 counties voted against the proposal.
Many on both sides of the issue felt the legislation that brought the referendum to the voters on Tuesday was flawed from the start. Others questioned why voters, other than those in the specific county where the casino would be located, should be allowed to vote on the question.
For now, at least, the matter has been put to rest. But the winners this time around are ever-vigilant, feeling that there’s just too much money involved for the gaming industry to give up easily.
For more on this story go to this report in the Portland Press Herald.
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Maine Lakefront Real Estate – Higher Prices in the Spring?
November 8th, 2008 categories: Observations and Commentary
Lakefront prices are down right now but could they be higher in the Spring? No one has a crystal ball but if we look at history, some lakefront properties will cost more in the Spring.
Recently, in response to a blog posting, Brad Johnson, a reader, asked whether a presently listed property could command a higher price in the Spring. The reader had recently been told by a seller’s agent that the asking price on a particular listed property will be $50,000 higher in the Spring. My blog reader wanted Mr Lakefront’s opinion. Was the seller’s agent full of blarney, simply employing a sales technique, or could it really be so?
The truth lies in understanding the seller’s motivation. Some sellers will take less now as they face almost six months of winter. Some out of state sellers want the property gone rather than worry about whether the pipes will freeze or whether the snow pack will collapse the roof or whether some frozen hunters will break in to get warm.
Sellers also know that what they can expect to realize from the sale of the property is based on demand. Usually, there is more demand for waterfront property in the Spring, on the brink of summer, than there is in late fall, on the brink of winter.
Lakefront real estate buyers want to buy now, but wonder whether they can buy it in the Spring for less. Mr Lakefront’s opinion, based on experience, is that sellers are more inflexible in the Spring, but loosen up as the season goes on. They become more motivated as they approach season’s end.
Sellers are looking for the best price they can get. If they’ve held on to a property all winter, they don’t plan to give it away in the Spring. Sellers believe that market conditions are more favorable for them in the Spring.
Is it unreasonable for lakefront real estate buyers to expect end of season prices in the Spring, at the beginning of the season? Some sellers would say so. Buyers have all the leverage right now. Prices are low, interest rates are low, demand is low. Sellers are motivated. Can one really expect a seller not to try for a better deal for themselves in the Spring?
Sometimes there is an advantage in waiting. Sometimes there is not. Buyers needs to ask themselves whether their own position will be as good or better in the Spring. Expecting the seller’s position to stay constant for six months is not folly but, let’s just say, you’re asking for a lot.
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Maine Waterfront Property – Septic System Design and Construction
November 4th, 2008 categories: Observations and Commentary
Here’s another installment on some basics about septic systems.
How do I get a septic system designed and constructed?
There are four steps to designing and building a septic system:
1. The system must be designed by a professional known as a Licensed Site Evaluator. Site Evaluators are private consultants licensed by the State of Maine who charge a fee for their service. A list of site evaluators who practice locally is available from the Local Plumbing Inspector of the town where the property is located. A statewide list of evaluators is also found here. The site evaluator will provide a system design in a standard format called an HHE-200 form.
2. A permit must be obtained from the Local Plumbing Inspector of the town where the system will be constructed. Three copies of the system design(HHE-200) are brought to the Local Plumbing Inspector(LPI) and a permit sticker will be attached after the permit fee is paid. The LPI will keep two copies of the design for local and state records, and give one copy back to the applicant. You will also need to notify the LPI of the schedule for installing the system so that inspection can be arranged.
3. Construction is normally done by an excavating contractor. It is permissible to construct the system yourself provided that the installation is done in accordance with the approved plans. It is recommended that two or more estimates be obtained from reputable contractors to ensure that the best price is obtained. The cost of the septic system is influenced by a number of factors including the contractor’s schedule and source of materials.
4. The system needs to be inspected by the Local Plumbing Inspector to ensure that it is installed in accordance with the subsurface rules. Inspection of the system by the designer is not normally provided as a basic service, but may be available in addition to the design. Because inspections must be coordinated with the construction schedule, the contractor should be responsible for scheduling inspections and should be aware of who to contact to do so. The LPI will initial the HHE-200 when inspections are conducted as evidence that the proper inspections were performed.
Our thanks to our friends at Green Environmental Engineering in Wayne, Maine for providing answers to our septic questions. To visit their site go to http://mainesepticdesign.com/index.htm
If you’d like to visit some beautiful Maine lakefront property try out Lakefront Locator. Here you can search current listings by town, lake name, price, and region. And don’t forget to register for our $100 L.L. Bean gift certificate here: http://www.mrlakefront.net/feedback.html
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Tom - MrLakefront
