Everything in real estate, as in the economy, is cyclical. Ever since selling my first B&B in 1986, the cycles have happened again and again. One interesting phenomonon is the supply of inns on the market. Bar Harbor has had very few inns available, frustrating buyers with little choice. It appears that the 2011 inventory is going to bring back a strong supply including the Primrose Inn, Acadia Hotel, Inn at Bay Ledge which are new to the market already. It has been a good year in Bar Harbor - never a bad time to sell.
Now, will the demand be there? I think it will be. Generally, after a few years of frustrating economic news, people interested in the hospitality industry realize that this is the way to buy a beautiful property and a home. Never is the hybrid moniker more evident regarding the Inn business than at times like these.
We are going to see an active fall market and we may very well be back to the days where buyers are visiting Maine all winter to get their 2012 new lifestyles set. Here we go again.
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