Know Doubt 0 Posted May 9, 2014 Okay we're talking about possibly moving to the Maine on the coast off of Banghor and I looked on zillow and there's some really cheap houses there with great sq ft and acreage, etc... http://www.zillow.com/homes/for_sale/Penobscot-ME-04476/59524_rid/3-_beds/100000-300000_price/385-1157_mp/44.595112,-68.341484,44.217401,-69.154472_rect/10_zm/1_fr/ so what gives? some of these places have a street and then the focking atlantic ocean in front of them or with in sight, etc. i know that age and possible repairs will be needed but why are some of these home ridiculously priced so low w/o mention of needing repairs??? do the entire water lines/electrical etc need to be replaced or the like? anybody from Maine on here or in the Real Estate game? i've been studying tucson, az for a few years and know that market but Maine is new to me. thx. Share this post Link to post Share on other sites
cyclone24 1,819 Posted May 9, 2014 high taxes i think is a big one, not a ton to do, cold, rainy seasons seem to last longer. Share this post Link to post Share on other sites
Patriotsfatboy1 1,432 Posted May 9, 2014 It is focking cold most of the time and there is not a lot around. If you like being in the middle of nowhere, there are some options. Share this post Link to post Share on other sites
MedStudent 56 Posted May 9, 2014 I love Maine and it certainly has a lot to do if you like the outdoors. Ski areas, ocean, mountains, lakes,etc., I vacationed in Maine every summer when I was a kid. Up further North in Acadia National Park is some of the most beautiful scenery you could imagine. I think the prices may be low because there are not a lot of higher paying jobs there. Up in Acadia there are plenty of rich New Yorkers and Bostonians with expensive summer homes but I don't think there enough industries with high paying jobs to push the real estate prices up for the average person. Share this post Link to post Share on other sites
IGotWorms 3,380 Posted May 9, 2014 New Englanders too stupid to know a nice little setup when they see one. Jump on it, unless it's an investment property in which case you have to account for others' continuing stupidity Share this post Link to post Share on other sites
TD Ryan2 315 Posted May 9, 2014 the market for second homes and vacation homes is still struggling (I believe)... not in the true/elite rich areas but in the areas where ordinary people would by a second home. Real Estate in vacation areas in Maine, Cape Cod, New Hampshire, etc are still priced pretty low from what I understand, i.e. now is the time to buy that second home if you can. Share this post Link to post Share on other sites
cyclone24 1,819 Posted May 9, 2014 the market for second homes and vacation homes is still struggling (I believe)... not in the true/elite rich areas but in the areas where ordinary people would by a second home. Real Estate in vacation areas in Maine, Cape Cod, New Hampshire, etc are still priced pretty low from what I understand, i.e. now is the time to buy that second home if you can. If i buy a second home.....it sure as fock wont be in the united states.....much less in Maine. Share this post Link to post Share on other sites
patweisers44 709 Posted May 9, 2014 the market for second homes and vacation homes is still struggling (I believe)... not in the true/elite rich areas but in the areas where ordinary people would by a second home. Real Estate in vacation areas in Maine, Cape Cod, New Hampshire, etc are still priced pretty low from what I understand, i.e. now is the time to buy that second home if you can. If you do decide to buy a second home, be prepared to deal with a gigantic hassle from the banks. Mortgage process for a second home is GD ridiculous right now. Share this post Link to post Share on other sites
Patriotsfatboy1 1,432 Posted May 9, 2014 New Englanders too stupid to know a nice little setup when they see one. Jump on it, unless it's an investment property in which case you have to account for others' continuing stupidity It is not on the water and it is 1800 sq ft. and over 4 hours from Boston. That is not going to be a high priced place. Not sure what you are expecting that to be worth to people in the real world. Share this post Link to post Share on other sites
Herbivore 915 Posted May 9, 2014 I have a vacation house in Maine, by Sugarloaf. Taxes are pretty cheap in that area. For your options...you are right by the ocean, that you do not want to swim in cause it is always freezing cold. There are not a lot of high paying jobs around. There is a ton to do, but its all outdoorsy. Almost no "night life". Restaurants are limited. You better be ok with cold weather. as TD mentioned the secondary housing market is still struggling, so many houses available on the Cape its ridiculous. A lot of secondary housing in ME. Share this post Link to post Share on other sites
BunnysBastatrds 1,940 Posted May 9, 2014 I assume the homeowners insurance isn't cheap there either being on the water. Share this post Link to post Share on other sites
TD Ryan2 315 Posted May 9, 2014 I assume the homeowners insurance isn't cheap there either being on the water. they built their homes ABOVE the water up north - notsobad. Share this post Link to post Share on other sites
BunnysBastatrds 1,940 Posted May 9, 2014 they built their homes ABOVE the water up north - notsobad. You still would prolly want flood insurance Share this post Link to post Share on other sites
Know Doubt 0 Posted May 9, 2014 yeah 2nd home but i was thinking of buying 2 or maybe 3 of the lesser $$$ ones and renting them out for summers etc and i could be around the corner to manage them closely or the like. i dunno, it just seems crazy that you can get a 4bd, 1700+sq ft for around $150k or even less. i noticed the 'car score' thingy though and most are a 2 out of 10 so when you are snowed in you're freaking snowed in, no walking to the Shaw's or Stop and Shop, etc. that may have something to do with it. thx for all the responses. Share this post Link to post Share on other sites
The Moz 69 Posted May 9, 2014 high taxes i think is a big one, not a ton to do, cold, rainy seasons seem to last longer. Can't be any higher than Chicago -- Hell I have a 3K sq ft house in Park Ridge (a suburb over by Ohare) and I pay a shade under 14K a year in property tax. Share this post Link to post Share on other sites
IGotWorms 3,380 Posted May 9, 2014 they built their homes ABOVE the water up north - notsobad. Above the water, not in a tornado or hurricane zone...what won't those damn Yanks think of next? Share this post Link to post Share on other sites
