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Deciphering Flood Insurance: NFIP vs. Private Flood Policies

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Written by Nick Lotfey

As a property owner, preparing for the unexpected is crucial. Floods, in particular, can wreak havoc on your property and finances if you’re not adequately insured. When it comes to flood insurance, there are two primary options: the National Flood Insurance Program (NFIP) and private flood policies. Understanding [...]

2024 Maine Economic Outlook

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Amanda Rector - Maine State Economist at The Department of Administrative + Financial Services

The U.S. and Maine economies ended 2023 on a solid footing and are starting 2024 with an expectation of declining inflation and interest rates paired with a slower pace of employment growth that avoids recession. [...]

2024 Real Estate Forecast

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Interest Rates: Expect continued moderation, facilitating more transactions compared to 2023.

Home Prices: Anticipate a 3-5% increase in home prices.

Out-of-State and Second Home Demand: Foresee this segment contributing to 30% of the market.

Growth Areas: The northern and western regions of southern coastal Maine will continue to grow, potentially leading to affordability challenges for [...]

Portside's 2023 Annual Report

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Just Released: Portside’s 2023 Annual Report 

Residential real estate was a hot topic in 2023!  Despite the surge in mortgage rates, home prices continued to rise across Maine. This caused many potential home buyers to slow their searches compared to previous years as their budgets had to be adjusted due to increased interest rates aimed at [...]

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