Desperate Maine Home Buyers Willing To Pay $2 Million For House
As we all know, the housing market in Maine has gone absolutely nuts over the last few years. During the pandemic, tens of thousands of people abandoned the cities of the East Coast to take up residence in Maine and other New England states. The massive influx of people have really driven the price of real estate through the roof.
Houses that had been going for $150,000 are now going for $250,000 or $300,000.
This has led to a home supply shortage.
Because of this shortage, buyers, and their real estate agents, are resorting to some really unique tactics in order to find homes.
According to the Bangor Daily News, Portland real estate agent Ann Cianchette has been going door-to-door in certain Cape Elizabeth neighborhoods in order to find one of her clients a home. Yes, she is knocking on the doors of people who are currently not trying to sell their home in order to let them know her clients would be willing to purchase their home for big bucks.
While Cianchette was not willing to reveal many details about her clients, she was willing to divulge that they live out of state are trying to move back to Maine. She also revealed that they were specifically seeking a home in (or near) Cape Elizabeth and that they were willing to pay as much as $2 million for the right home.
Previously, she had scoured real estate websites and social media for all "for sale" homes in Cape Elizabeth, but none fit her clients needs.
So, how does their $2 million limit compare to the current list prices of homes in Cape Elizabeth? Well, on Realtor.com, homes range in price from $180,000 to over $5,000,000!