Tuesday, April 27, 2010

Had a great meeting today with Tony Dolceamore with Sotheby's International Realty

We had a very productive meeting today at our Northeast Harbor, Maine office with key presenter, Tony Dolceamore on marketing and personal branding. Now this topic I can personally relate to; almost as if this presentation was written for me. But Tony gave us some great tools available to us as Sotheby's International Realty affiliates. I'll be implementing some of them over the next several weeks. Stay tuned...

Monday, April 19, 2010

Simplifying Small Business Administration (SBA) Loans...is it possible?

How much time and patience do you have?  
If you have both, you could save yourself some money. 

 If the business qualifies and the buyer meets the criteria, the buyer could put down as little as 10%. Commercial loans with banks are requiring minimum of 25% down. That's a substantial savings. But the process from first contact with SBA to closing could be 6 months. For those who know they have the cash to put down the standard 25%, you can apply for the loan after you've ratified a Purchase and Sale Agreement for a property. But for those with less cash to put down, you should discuss with your Realtor, your available cash, a property's financial performance and therefore understand before you've signed a Purchase and Sale Agreement if you are able to qualify for a more expensive property by applying for an SBA loan. But know that the criteria is very rigid and and the business you are looking at must be very strong.

The common loan for purchasing real estate related business is a CDC/504. Visit SBA's website for a better understanding of this loan and what businesses qualify. The common loan for lodging is the SBA 504 - loan information; there are several forms that have to be included as part of the loan application. For assistance, there are a few SBA Offices in Maine and you can discuss this with your lender. But you're best prepared if you know ahead of time what the SBA will require and be prepared early.

I've been through this with clients. It's not been easy. But it could make the difference in the property you purchase.

Saturday, April 17, 2010

I've been running around like a chicken with my head cut off and I love it!

Ask me what I'm up to these days and I'll tell you this is what I look like!!

But in real estate, that's a good thing. Sellers realize this is a buyers market and many are really pricing their properties to sell. Recently, Captain Briggs House came down to $775,000; Kenniston Hill Inn came down to $850,000; Lake House Bed and Breakfast is now $750,000; Rockwood Cottages just reduced their price from $1,150,000 to $950,000. And price reductions seem to spark new activity.

I've got two new lodging listings, one new lakefront family compound and a bold oceanfront estate all coming on board. A settlement coming up, and three property showings in the past 4 days. Buyer client coming in to see second home properties today and another showing of a lodging listing tomorrow. And a new buyer client looking for an investment property...

This feels like the turnaround year to me...

Friday, April 16, 2010

PRICE REDUCTION - Rockwood Cottages on Moosehead Lake $950,000

Rockwood Cottages sits on Moosehead Lake facing the beautiful Mt. Kineo, offering 377 feet of lake front property, 8 cabins and a 3 bedroom owners home. There's a dock, gas pump for boats, storage building for boating equipment, picnic area with large wood-fired grills, and priceless views. A wonderful recreational business, family compound, retreat spot, many possibilities to tailor to your needs.

More listing information/photos are available on my website.

Wednesday, April 14, 2010

My blog subscribers are back, thanks to the crafty work of my go-to-techies!

Darin & Lisa McClure rock! I have so many sites that were feeding and pushing (tech talk) to multiple sites; then I changed my domain and edited my feeds, lost my subscribers, and basically knew enough to get in trouble. And they fixed it all! Just wanted to thank them. What a relief. It's like a good auto mechanic - you never want to go elsewhere...

Monday, April 12, 2010

New site changes to MaineLodgingBroker.com!

I'm hoping that by setting up individual pages, I have streamlined where visitors can find information on my blog. I used to have listings all down the right hand bar of the blog, but along with all of the other information and links on my site. Now, the home page contains the blog posts; listing information and all other industry links are on separate pages/tabs.

Hard to keep it all organized sometimes!

Saturday, April 10, 2010

Price Reduction - Lake House Inn, Waterford, Maine

Lake House Inn is now being offered at $750,000.

There are 8 guest rooms with private baths, a very spacious commercial kitchen and small restaurant. The Sellers have been running the restaurant successfully for several years; prior owners ran it for about 20 years. But personal health issues are requiring that the sellers downsize the restaurant aspect and focus more on the lodging. Good news for most buyers, though, as the B&B buyer and restaurant buyer are not often one in the same. Many inn buyers are intimidated by the restaurant aspect of a full service country inn, but in many cases, they shouldn't be. There are ways to limit your service to the public, such as seasonally or weekends; you can also reduce the size of your menu, making it easier for the amateur chef.

The inn sits on a large, well landscaped and wooded lawn, with a gazebo and lots of space, perfect for events. This is another revenue stream - allowing the owner who loves the food service industry but may not want to be a restaurant chef - to cater events, allowing use of the commercial kitchen. With plenty of dining space inside and out, Lake House Inn is ideal  for many venues.

More Details can be found on my website

Thursday, April 8, 2010

Broker Open House Luncheon - Kismet Inn and Spa in Bath, Maine

Please join us for a Broker Open House luncheon at Kismet Inn. Prospective clients and aspiring innkeepers are also welcome.

Where: 44 Summer Street, Bath, Maine
When: Thursday, April 15 11:30-2

A nice, casual lunch will be served

Kismet Inn and Spa is being offered at $1,175,000 as a lodging business (with restaurant license) or $975,000 as a private residence. This Queen Anne has been meticulously renovated, offering luxury rooms, baths, finishes and rich, warm colors.

This is a property that simply needs to be seen to appreciate. It's a home that surprises you the moment you step inside.

Kismet parlor.JPG
The home was just featured in the latest edition of Maine Ahead Magazine and the writer captured the essence of the property beautifully. Property details can be found on my website.

We hope you will join us to see what this incredible home has to offer a buyer.

RSVP's would be most appreciated.


Monday, April 5, 2010

Early Spring in Maine...a boost for tourism?

Who really knows what our tourism season will look like this year. What I have noticed is busier hiking trail lots over the past couple weeks. March into April is often mud season in Maine. But with our relatively manageable and well paced snowfall and rain and warmer than normal weather, is tourism getting a head start? I've been on a few hikes over the past week and have seen many more cars in the parking lots than in past years at this time of year. 

Maybe it's just my optimism, but it feels good to me.

MaineInnBroker.blogspot.com is now MaineLodgingBroker.com!

That's the good part. 

However, in the process of redirecting my blog to the new web address, I lost several hundred subscribers to my posts/feeds. And I suppose there's no way of reaching any of those people other than hoping that they visit my blog on their own and read this post!

Don't do as I do. Contact someone who knows how so many sites are intertwined and the effects of one little change, but before you make the change! I use Darin McClure of Ready To Go Information Technologies - RTGit - he knows his web marketing stuff.

Friday, April 2, 2010

Maine Ahead Magazine features Kismet Inn as the "Dream Home" in their latest issue

Maine Ahead Magazine -a mix of business and pleasure. I like that already.

The newest issue came out with an incredibly written feature about Kismet Inn in the Dream Home series - flip to page 48 for all photos and to read the entire feature. The writer certainly captured what both the owner and I feel about the property. Just read for yourself. And don't miss the magazine when it comes out - it should have some additional photos.

To view more property details, visit the listing on my website; to view additional photos, visit my flickr album and enjoy. Visit Kismet Inn's website