From the Maine Inn Team at Swan Agency Real Estate….
As we head into 2024….while I do not have a crystal ball, I believe we will see more hospitality inventory hit the market. I am seeing signs of this now as I have a few new listings in the works, some will be public, some confidential. Overall, there are some really nice options: classic B&Bs, catering and event venues, full service inns with restaurants, cottage colonies, and in various locations around our beautiful state of Maine!
Interest rates have been holding steady between 7.25-7.5%. So instead of locking in for a longer term buyers are opting for a shorter term and hope to refinance when rates drop. And please contact me for bank recommendations. Not all banks are interested in hospitality!
Feel free to call, email or text me with any questions!
