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Friday, March 2, 2012

Maine Cottage For Sale -- 563 Ash Point Drive $699,000

Hi Gang:

This is down the road from our place in Owls Head.

Now.....you should know by now I think most real estate in Maine is STILL grossly overvalued and overpriced.

This cottage is a perfect example.



You would pay almost a million dollars for a tiny, little cottage built 30 years ago (or longer), with no beach (hard slippery rocks), almost no land or acreage, AND this is a popular spot for making out, smoking pot, hanging out and launching kayaks.

I know people from "away" want a slice of Maine heaven, the "way life should be".

But you don't get a slice of Maine heaven by spending a almost a million dollars for a modular cottage with no land, right on the public access.

The owners of this tiny cottage are dreaming. If someone pays $700k for this they need mental help or assistance. You could spend a million dollars and have ten acres and beautiful home, and possibly an ocean view, or within a thousand yards from the ocean, and have $200k left over to travel or buy an apartment in the Caymans.

Seriously.....this is an indication of how screwed up the debt and mortgage  fiascois in the real world.

But that's me......

Marc Charles