Home prices are still incredibly overpriced in most parts of the country, including Midcoast Maine.
There are two basic reasons for this --- IMHO.
1. People are still buying homes that are over priced and over valued (with much larger down payments and two full time incomes).
2. People refuse to sell homes at a loss, or deep, deep loss. In other words, people have been "holding out" for the highest price for two or three years.
The problem is, real estate is not coming back to where it was in 2008 no matter what your blessed Realtor tells you. Have Realtors ever been bearish?
However, there are some deals, albeit they are NOT bottom feeder deals, but better than full retail, over priced, over valued listing prices.
I found more than 150 foreclosed and/or bank owned properties in the Midcoast. Some but not all of these are pretty good deals.
Here ya go............
Have fun and play nice :)