3 minute read
Residential Real Estate Mark Stimson. By Richard Bennett.
RESIDENTIAL REAL ESTATE
MARK STIMSON
The animated septuagenarian sign painter may telecast his astonishment that "They're the only real estate folks I know that sell more SOLDsigns than FOR SALEsigns!" but but he adds, "It's beginning to get a little scary because there are a lot for sale. They sell, but it's a slow sell."
Stimson estimates that between 2,500 and 3,000 condominium units are slated more economical and convenient condominium.
Over the past year, Mark Stimson Associates have begun to specialize more in commercial real estate, as well as residential. Why? "I've always wanted to because I've been in business on the peninsula and Ihired a couple of people who wanted to do it," Stimson explains. "Also, in all these offices in some .of these outlying areas, we've noticed that it is difficult to find companies that will broker commercial properties. Each of our offices has one or two people that specialize in it."
When asked why he went into the real estate business in the first place, Stimson says quickly, "To make money." He laughs and then explains, "I had no formal background or training, and I wanted to do something where the harder Iworked the more Igot paid. And I like to deal with people." • And Stimson is a manager. Asked specific questions on the details of his business, he goes swiftly to the file cabinet and to his salespeople for the answers.People,ratherthanrea~estate, are Stimson's forte, and his ability to handle them is what has given him his
HStimson estimates that between 2,500 and 3,000 condominium units are slated to enter the Portland market over the next 2 to 3years. "
anyone following Mark Stimson's career over the past two decades would not be surprised with his accomplishment.
March of this year marked the 20th birthday of Mark Stimson Associates. "We 0pened our firm with the anticipation of a one-, two-, or three-man office," recalls Stimson. "But as I got into the business of managing and hiring, it got exciting. Ifound that Ienjoyed managing. "
After working for the Beecher Agency for 10 years, Stimson began peddling property on his own in 1966.For the first year the firm found its home on Forest Avenue, but then the central office was moved to its current address on Washington Avenue. During the first eight years the company expanded to four offices in the area. Now, the brokerage has grown into 11 offices with 135 salespeople located all over the Greater Portland area-from Lisbon Falls to Biddeford-with two in Portland itself.
Until recently, Stimson had always specialized only in residential real estate, particularly in the handling and sale of condominium developments .. Current and recent marketing efforts include Tara condominium and Frost Hill single-family home developments in North Deering; the Ledges on Stevens Avenue; Willowood, Graham Hill, Carriage Crossing, Williamsburg Place in Scarborough; and Jamestown Court in South Portland. "When it first started here, the condominium market was a little slow," Stimson says. "But then the same thing happened as in the other statespeople got used to the concept." Now Stimson calls the market "excellent," to enter the Portland market over the next two to three years. He hopes that that figure is high, for he fears a potential glut in the market.
But Stimson sees Portland's popularity as perhaps fending off the potential problem. "Portland has had a lot of great publicity in the last year or two as one of the top little cities in the country. There is a lot of excitement with the symphony, the museum, refurbishing the downtown, and what's happening
-MARK STIMSON
on the waterfront." Born in Falmouth and brought up on a dairy farm there, Stimson has always lived in the Portland area. "I've always been big on the city. I just think it's great, and always have."
Stimson believes that the people coming to the Portland residential market are "a combination of a lot of people who want to come back or who've had ties to Maine" or those arriving from less fortunate areas of the state. Condominiums are an attractive alternative to individuals of all kindsyounger people, retired people trading their old homes for available cash, and others selling their second home for a bustling business. "Nothing really good can stand still. It has to grow," he comments. "A business can't stand still, and neither can a city. A lot of people have been coming into Maine from out of state, and generally it's been good."
