Something seems to be working...

Last week, Sullivan Multi had six closings, something that has not happened in a very long time. Needless to say, it's a welcome change of pace. We have been touting the coming of good things for quite a while and it now seems as if good things have indeed begun to happen.

Single family brokers have been experience a uptick in business since the start of the spring market. According to most of the brokers we know, that uptick is a direct correlation to 3 main factors: improved sentiment among the public, low interest rates and the $8,000 tax credit.

While we are busier than before, I am still surprised by the lack of young, first time buyers looking to start their portfolio by purchasing a 2, 3, or 4 unit utilizing these incredible tools available to them.

Don't get me wrong, I understand times are still very tough for many people, and that can cause folks to be extra cautious. However, to paraphrase Warren Buffett, the key to success is to be cautious when others are buying and be buying when others are cautious.

The bottom line: While it is encouraging that activity has increased, I would LOVE to see some more first time buyers taking advantage of the opportunities out there!

Market Activity for June

Here's the market activity for last month:

New Listings: 14
Under Contract: 4
Sold: 4

Good solid activity and everyone seems to feel pretty good about what's going on... except for the weather!

Sullivan Multi Happy Hour

Sullivan Multi hosted its first Summer Happy Hour in the courtyard of our office last Friday. It was a rousing success... Thanks to all who attended and we look forward to the next one!

Market Activity for May

Here's a round up of last month's multi market activity for Portland:

New listings: 19
New Contracts: 6
Closed sales: 8

Some notable facts... 4 of the new listings were Sullivan Multi listings; 3 of the closed sales were Sullivan Multi transactions (2 of which NEVER HIT THE MARKET).

Give a call to the office or write to discuss any of these items or talk multis in general.

End of Month Activity for April 2009

Here is a list of activity in the Portland multi market for last month:

New listings: 17

Under Contract: 2

Closed Sales: 5

As is typical for this time of year, several "new" listings have come on as well as some previously listed property being re-listed to take advantage of the spring market, also counted in the tally. As of this posting, there are 72 Current multi family listings in Portland. Give us a call at the office to talk about whats new in the market and whats going on in general in the Portland multi scene.

Munjoy Hill in the National Spotlight

Francine was kind enough to bring this article from the Washington Post to my attention. It reveals to those who have yet to be acquainted with our beloved city the renewed east end. Some good coverage and great plugs for local businesses mentioned by name!



http://www.washingtonpost.com/wp-dyn/content/article/2009/03/23/AR2009032301246.html

More bright spots on the horizon...

Here is a link to a story which appeared in yesterday's Maine Sunday Telegram. The title, "In the Housing Market: Signs of a Thaw" is yet another positive story for us all to rally behind. Recovery is all about momentum people, so keep the good news coming. And speaking of the horizon (this enty's title) , U2's latest album "No Line On the Horizon" is a stroke of genius!! Enjoy...


http://pressherald.mainetoday.com/story.php?id=250499&ac=PHnws

Sales are up!

Okay, so someone told me "people do read the blog" and while I doubt it highly, Francine I'm going to keep doing this for you.

So what's exciting? For one, mortgage rates are stupid-low right now (not a technical term, but I am quoting). I am seeing owner occupants lock in the four's! Investors in the mid six's!! I am going to make a brass yet sincere statement: If you are in real estate and not buying right now, you are crazy. If you are not in real estate you should be.

And it looks as if people are getting the message. Numbers for February show a modest increase in national home sales for the first time in ages; I like where this is headed. Give me a call to talk about the market in general and where the opportunities are.