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News Updates

Please watch this column for frequent real estate market news and updates. Content rich, printable articles regarding important valuation issues can also be found in Publications.

MAAO Fall Conference- September, 2016

September 13th, 2016

I attended the Maine Association of Assessing Officers informative Fall Conference at Sebasco Resort for assessors, appraisers and other real estate professionals. A well-rounded collection of seminars was created by the Conference Committee led by Chair Bill Healey. The quality of the speakers and presentations was excellent. The educational offerings included, amongst others, How Assessors, […]

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OCC and Credit Risk Evaluation Report- July 2016

September 13th, 2016

Quoting from Appraisal Institute news sources, the Office of the Comptroller of the Currency (OCC) said in its semiannual risk report that while the financial performance of lenders improved in 2015 compared to a year earlier, credit risks were higher across the industry. Credit risks have risen in U.S. commercial real estate as lenders compete […]

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Portland, Maine Residential Market Update- May, 2016

September 13th, 2016

Multi-family rental and condominium markets have improved dramatically over the past five years. Demand has exceeded supply consistently, despite rental rates that are above affordability for a high percent of tenants. Rents have most recently been increasing at a torrid pace of  9% annually, although this is now expected to decline. Nevertheless, planning for more […]

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MEREDA Index Update- May 2016

September 13th, 2016

Quoting from MEREDA News, the “Maine Real Estate & Development Association announced that the latest MEREDA Index had achieved a healthy 91, indicating that as Maine sales continue to achieve high water marks for sales prices and square footage sold, there will be strong fluctuations from release to release. The MEREDA Index is an economic […]

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Portland, Maine Office Market Update- February, 2016

September 13th, 2016

The Greater Portland office market has sustained a robust rebound from the last recession that ended circa 2010. Here is a brief summary of current conditions: Demand is exceeded by supply, but is near equilibrium. Tenant market moving towards landlord market. Vacancy rates continue slow decline. Lease rates continue slow increase. More new construction in […]

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2015 Mid Year Maine Economy Update

September 17th, 2015

A prominent Maine economist, Charles Colgan, gave an annual economic summary for 2014 and 2015 in his last Forecast Conference. Mr. Colgan was the highly regarded economist at the Muskie Institute of the University of Southern Maine for more than twenty years. His last economic forecast for the Maine economy was fair for 2015, but […]

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December 2014

December 1st, 2014

We can finally report that real estate markets in Maine, New England and the U.S. continue to improve reliably, albeit at a moderate pace. Recent real estate industry seminars, authoritative realtor and vendor websites, and government statistics at most levels report more confidence in growth indicators. Transaction activity picked up dramatically in 2013 and 2014. Sales and […]

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