Saddleback ski area draws attention of co-op group

Ski industry experts are closely watching an effort by a group hoping to raise $20 million to purchase Saddleback and create what would become only the nation’s second cooperatively owned ski resort.

Peter Stein, a home owner at Saddleback and the chair of the nonprofit Saddleback Mountain Foundation, said his group had discussions with the Berry family, which owns the Rangeley ski area.

Saddleback never opened last season and the ski area is for sale. A group interested in it said there's a narrow path to opening this winter.Saddleback never opened last season and the ski area is for sale. A group interested in it said there's a narrow path to opening this winter.


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But Stein cautions that his group – composed of Saddleback skiers and local business owners – still has much work to do, including creating

... read more at: http://www.pressherald.com/2016/08/31/saddleback-draws-attention-of-co-op-group/

Westbrook residents voice support for $27 million school expansion …

WESTBROOK — Residents spoke Monday night in support of a $27 million expansion at two Westbrook schools, but repeated their calls for a moratorium on housing development they said could strain the district.

The money would pay for a renovation and 12 new classrooms at Saccarappa Elementary School, as well as 12 new classrooms at Westbrook Middle School. The school committee voted unanimously in favor of the plan this month. The Westbrook City Council will need to have two public hearings before voting on the plan. About 20 residents showed up Monday night for the first; the second is scheduled for September.

Westbrook school enrollment 2003-14

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If passed by the council, the bond will go to voters on the November ballot.

... read more at: http://www.pressherald.com/2016/08/29/westbrook-council-hears-public-comment-on-27-million-school-expansion/

Metro Detroit housing prices up 67% from 2011 low

Metro Detroit’s housing market continues to gradually regain value it lost during the real estate crash, due in part to a still-tight inventory of available properties.

The newest Standard Poor’s/Case-Shiller Home Price index released Tuesday shows the region’s prices rising 5.1% in June compared with a year earlier and up 67% from their lowest point back in April 2011.

Overall, prices are still 15% off their local peak hit in late 2005 and early 2006. The current prices on the index are comparable to October 2007 levels.

The index defines metro Detroit as Wayne, Oakland, Macomb, Livingston, St. Clair and Lapeer counties.

►Related: Metro Detroit housing prices rose 5.7% this spring

Local real estate experts say it’s not a bad thing that housing prices haven’t returned to their pre-recession, bubble-inflated heights.

“I think the numbers we

... read more at: http://www.freep.com/story/money/business/michigan/2016/08/30/metro-detroit-housing-prices/89576982/

Westbrook residents voice support for $27 million school expansion

WESTBROOK — Residents spoke Monday night in support of a $27 million expansion at two Westbrook schools, but repeated their calls for a moratorium on housing development they said could strain the district.

The money would pay for a renovation and 12 new classrooms at Saccarappa Elementary School, as well as 12 new classrooms at Westbrook Middle School. The school committee voted unanimously in favor of the plan this month. The Westbrook City Council will need to have two public hearings before voting on the plan. About 20 residents showed up Monday night for the first; the second is scheduled for September.

Westbrook school enrollment 2003-14

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If passed by the council, the bond will go to voters on the November ballot.

... read more at: http://www.pressherald.com/2016/08/29/westbrook-council-hears-public-comment-on-27-million-school-expansion/

Metro Detroit housing prices rise but still 15% off peak

Metro Detroit real estate continues to grow more expensive with housing prices rising 5.1% in June compared to a year earlier, according to a key nationwide price indicator released this morning.

This latest Standard Poor’s/Case-Shiller Home Price index shows the region’s housing prices now up 67% from their cheapest point in April 2011 and back to October 2007 levels. However, housing prices are still 15% off the local price peak hit  in late 2005 and early 2006.

The index defines metro Detroit as Wayne, Oakland, Macomb, Livingston, St. Clair and Lapeer counties.

Nationwide, Case-Shiller’s year-over-year increase for housing prices in June was also precisely 5.1%. The Portland, Seattle and Denver metro areas had the biggest gains, with Portland leading the way with a 12.6% annual increase, followed by Seattle at 11% and Denver at 9.2%.

The smaller year-over-year increases were reported in New

... read more at: http://www.freep.com/story/money/business/michigan/2016/08/30/metro-detroit-housing-prices/89576982/

US Existing Home Sales Fall for First Time Since February

WASHINGTON—Sales of previously owned homes slipped in July, a sign that higher prices are taking a bite out of U.S. housing demand.

The pace of existing-home sales decreased 3.2% last month from June to a seasonally adjusted annual rate of 5.39 million, the National Association of Realtors said Wednesday. The decrease was the first since…

... read more at: http://www.wsj.com/articles/u-s-existing-home-sales-fell-sharply-in-july-1472047382

What properties can you buy with $325000?

Investing $325,000 in a new home will lead to drastically different results depending on where you decide to unpack your bags.

House prices around the country have gone up by 5.4 per cent over the past year, according to real estate website Zillow.

The median price of a house in the United States has now reached $187,000. But even $325,000, which is not far from twice that sum, will not necessarily afford you a lavish pad, CBS News reported in a selection of listings.

Out of ten properties, four only have one-bedroom – and these are located in New York City, Chicago, Honolulu and Omaha.

This  one-bathroom studio in Manhattan, tucked away in the Upper East Side, has hit the market at $325,000 - well above the median house price in the United States... read more at: http://www.dailymail.co.uk/news/article-3755687/What-properties-buy-325-000.html

A new condo would cost close to $1 million, which is pretty rare

Good evening from the BDN Portland office on Congress Street. Let’s do this.

What we’re talking about

A million-dollar view, more or less, is among the offerings of a new condominium complex planned for Portland’s East End.

The developer of a building proposed for 180 Washington Ave. is hoping to sell the top-floor condominium for at least $949,000. But despite Portland’s surging housing market, condos that have sold for close to $1 million have been relatively rare.

A rendering of the condo proposed for 180 Washington Ave. (Courtesy of Maine Modern Development and David Harmon Architecture)

A rendering of the condo proposed for 180 Washington Ave. (Courtesy of Maine Modern Development and David Harmon Architecture)

Only six Portland condos have sold for $900,000 or more in the last five years, according to state real estate records. There are another four condos on the market at

... read more at: https://portland.bangordailynews.com/2016/08/18/news/a-new-condo-would-cost-close-to-1-million-which-is-pretty-rare/

Lakehouse condos unveiled

August 18, 2016 by  

LAKEHOUSE.DECKL_

An aerial view of the Lakehouse being built across from Sloan’s Lake shows the swimming pool, the Wellness center health club and the urban garden area. The architect is RNL Design.

John Rebchook

JRchook@gmail.com

SLOANS LAKE — Although construction of the 12-story, 226-unit condominium tower just south of Sloan’s Lake won’t start until the fourth quarter, real estate brokers and some prospective buyers got a first look at the long-awaited tower, Lakehouse, that NAVA is developing and has been working on for the past 3.5 years.

On August 10 and 11 NAVA Real Estate Development hosted an open house for about 80 brokers and a VIP party for “friends and families.” The events were packed with curiosity seekers and those eager to buy one of the one-of-a-kind units in the sales office still under construction at

... read more at: http://www.northdenvertribune.com/2016/08/lakehouse-condos-unveiled/

Portland’s housing boom is still going strong

The development boom in Portland shows no signs of slowing, even as construction costs are climbing and as rents appear to be rising more slowly after years of rapid increases.

Two new housing proposals are being planned in the Bayside neighborhood – a 54-unit apartment building on Chestnut Street and a modern five-unit project on Washington Avenue with condominiums that will be offered for as much as $950,000.

The proposals come as a slew of new housing developments are changing city neighborhoods, especially in and around the downtown. For years, the number of housing units in the city remained relatively stable because there was virtually no new construction. But as more people are discovering Portland’s vibrant arts and restaurant communities, demand for housing has overwhelmed the limited number of units and led to spikes in rents and, in some cases, evictions of low-income residents as landlords

... read more at: http://www.pressherald.com/2016/08/18/housing-projects-in-full-boom-in-portland/