JANUARY 2020

How is it still January? How many weeks are in this month exactly??! Work-wise, this year has gotten off to a great start. Several colleagues and I attended MEREDA Forecast Conference a couple weeks ago to hear about the outlook for 2020 in real state development throughout the state. Click here to read a recap of the day. I always find it valuable to hear from all the different market sectors outside my own niche - retail, hotels, office, industrial, and more - business is good in all areas right now. In the Portland area, we expect the Spring house/condo market to be as active, or even more active, as it was last year. Expect packed open houses and low days on market - most properties that are priced well will likely sell in multiple offers. It's a challenging environment for buyers, but interest rates are still at historic lows (hovering between 3-4%) and it's still a really great time to buy. On a personal note, Morgan and I are headed to warmer climates in a few weeks and we can't wait. I need to rest up before Spring heats up and I'm working 7 days a week! Read on below for some news and tidbits from Vitalius, and other news around town. See you in February! Elise

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NEW TEAM MEMBERS

John Mullen and Chris Davis

We're excited to announce that our team is expanding with two new brokers, John Mullen and Chris Davis, who joined Vitalius at the beginning of the year.

FEATURED LISTING

Hammond House Breaks Ground this MARCH!

Hammond House is a 16-unit building located on a quiet street nestled between Portland’s two most thriving downtown hotspots: East Bayside and Washington Avenue’s award-winning “restaurant row.” This building boasts spacious one, two, and three bedroom units, all with private outdoor space, elevator access, gas fireplaces, and most with heated garage parking. Finishes include quartz countertops, stainless steel appliances, all-wood cabinets, hardwood floors, tiled bathrooms with walk-in showers, and other luxury upgrades. Units also include dedicated storage and the option to purchase a second parking space. Ready for move in Spring 2021. Hammond House is 50% reserved already - contact us now if you want to reserve yours!

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NEWS & LOCAL EVENTS

Carnaval Comes to Maine This Weekend! Inspired by Carnaval de Québec this two-day festival along the Eastern Promenade is one you don't want to miss! Celebrate Maine’s bicentennial with a Bites & Brews igloo, ice sculptures, illumination art, LIVE entertainment and more. LEARN MORE

Wage Increases Expected to Impact Portland Budget Preliminary city budget data for fiscal year 2021 projects a tax rate hike of at least 1.8 percent, right out of the gate. The data doesn't include school spending or City Council desires, which could drive the mil rate even higher.  READ MORE Decade of dramatic change leaves Portland facing challenges Maine's largest city established a national reputation as a destination while becoming a political trend-setter and a hotbed of economic development. But with it came growing pains. READ MORE

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