Maine Guide

Real Estate in the Canal Area

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How is the real estate market holding up down there?  Between people going back to the office, and the economy and the stock market starting to slide, are you seeing a decrease in prices, or an increased volume in second homes coming on to the market?

 

Since I sold my house in Maine in December 2020, I’m missing having that vacation home to look forward to on the weekends. 
 

For someone who wants to fish the Canal, or perhaps some of the south facing beaches, what town would be a good place to start looking?

 

A friend just bought in Mashpee.
 

I won’t be visiting any open houses for a little bit given the current leg situation, but am starting to look on line. 
 

 

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I have a home on the cape. Let me

 suggest a couple of things....

 

Much of the soil on the cape has a high sand composition which can make things (like lawn irrigation) challenging sometimes. So keep that in mind especially if you like to garden and live off the land. 

 

Another thing... There are lots of tourists and temporary/seasonal dwellers. So traffic is a big problem at certain times and in certain areas. Being stuck in traffic for hours isn't fun. So pick your spot wisely.  :th:

 

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8 hours ago, night owl said:

I have a home on the cape. Let me

 suggest a couple of things....

 

Much of the soil on the cape has a high sand composition which can make things (like lawn irrigation) challenging sometimes. So keep that in mind especially if you like to garden and live off the land. 

 

Another thing... There are lots of tourists and temporary/seasonal dwellers. So traffic is a big problem at certain times and in certain areas. Being stuck in traffic for hours isn't fun. So pick your spot wisely.  :th:

 

What he said.

 

Let me add something.

Nitrogen releasing into the aquifers is becoming a huge deal on Cape Cod. This is due largely in part to the sandy soil, and also because the development has outstripped the carrying capacity of the land.

It's only a matter of time before certain sensitive areas will require that septic systems be retrofitted with some sort of nitrogen containment. Not cheap. My system is a relatively new Title 5, and I'm already looking at it.

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4 mins ago, bob_G said:

What he said.

 

Let me add something.

Nitrogen releasing into the aquifers is becoming a huge deal on Cape Cod. This is due largely in part to the sandy soil, and also because the development has outstripped the carrying capacity of the land.

It's only a matter of time before certain sensitive areas will require that septic systems be retrofitted with some sort of nitrogen containment. Not cheap. My system is a relatively new Title 5, and I'm already looking at it.

Thanks Bob for that insight. Not something I would have thought of. 
 

How about crime?  Are there some areas that are more prone to break-ins to cottages that are vacant during the week or during the off season?

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3 hours ago, bob_G said:

 development has outstripped the carrying capacity of the land.

 

My town is already issuing the annual water restrictions at the same time as they are bending over backwards to accommodate new roads, new big dollar homes and really large , totally out of place apartment buildings. Just say the magic words   " Affordable housing". 

 

Just had to sewer some parts of town (supposedly) under threat of nitrogen lawsuit. What part of town do you suppose they started in? The high density area right on the harbors that apparently triggered the lawsuit? Nope.....they started on the other side of town where there is  still undeveloped land. The pipes they put in ran from the treatment plant and somehow the sewer millions ran out and pipelaying ceased just exactly where two new big high dollar developments were being proposed and heatedly fought over.

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When we moved a little over 5 years ago, we sold our home for an offer over our asking price. IIRC it sold for $323,000. I think we were asking $319,999. The market was that hot then. The buyers had lost out on an earlier sale, which fell through, and came in loaded for bear--they really wanted the house.

Today Zillow values it at $546,700. It's about 3 miles from the Canal, about as far north as you can be in Bourne. Another 200 yards and it would be in Plymouth

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Kicking myself now for not buying a second home when interest rates were low. 

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2 hours ago, Ditch Jigger said:

When we moved a little over 5 years ago, we sold our home for an offer over our asking price. IIRC it sold for $323,000. I think we were asking $319,999. The market was that hot then. The buyers had lost out on an earlier sale, which fell through, and came in loaded for bear--they really wanted the house.

Today Zillow values it at $546,700. It's about 3 miles from the Canal, about as far north as you can be in Bourne. Another 200 yards and it would be in Plymouth

The houses in Falmouth that Zilliow values at $550,000 are selling for $700,000 ….    I know cause I own one.    I’m cashing out this summer.   

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We will hopefully be looking to buy in a year or two.
there's almost nothing on the market now but I'm now looking at Westport.   not too far but not too close to the canal but still close to really good fishing in and around buzz bay.

And it's pretty good farmland.

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Everything still going for over and above the already high asking price. You'd have to think prices would drop with increased interest rates and a tanking economy, but who knows for sure.  

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37 mins ago, Eagles Dare said:

Everything still going for over and above the already high asking price. You'd have to think prices would drop with increased interest rates and a tanking economy, but who knows for sure.  

I think sales will slow and prices will level off. I doubt the prices will drop anytime soon.
Personally I wouldn’t buy anything near the canal. It’s too busy and too much crime there. I would look much further out like Dennis and beyond.  

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24 mins ago, z-man said:

I think sales will slow and prices will level off. I doubt the prices will drop anytime soon.

Yep, been doing this over in the UK for years. I ended up missing the boat after covid hit and now the places I want to live are out of my price range. Prices are still going up despite the threat of recession, interest rates going up and record-high house prices. Supply and demand are the main factors here. People getting the funding to buy houses doesn't seem a factor? 

I'm naturally risk-averse and this has cost me. You live and learn....  

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