WESTBROOK – John F. Chase, 47, has lived and worked in Westbrook and the surrounding area his whole life, and knows the real estate markets here inside and out. A Westbrook native, Chase graduated from Westbrook High School in 1982, and earned a degree in business administration and economics from the University of Maine in 1989. He also earned a law enforcement degree from Southern Maine Technical College in 1987.
Chase worked for the Westbrook Police Department, starting in 1984, retiring from the department in 1998 as a detective. In the 1990s, he also worked as a residential loan officer of what was then called Peoples Heritage Bank, now known as T.D. Bank. Since 1986, he has owned Chase Custom Homes and Finance. Through that company, Chase has established many major subdivisions in Westbrook, building and selling more than 100 homes.
Last year, Chase bought the local RE/MAX Alliance franchise. Earlier this month, he opened an office at 2 Thomas Drive in Westbrook, and has ambitious goals for his operations in the city. Right now, he has a staff of five full-time real estate agents and of three full-time administrative employees, but he expects to have 25 agents and eight full-time staffers within a year, and 50 agents in three years. He also plans on building a new real estate complex in Westbrook this spring, where he hopes to move all his employees by mid-October.
This week, Chase talked about the past, present and future of the real estate market in the city.
Q: With the national media declaring the housing market in a slump, are you finding the real estate business an uphill climb these days?
A: Yes and no. Yes, because we are pulling ourselves out of the greatest housing crisis in most of our lifetimes. No, because prices have relaxed to a manageable place for buyers. Also, sellers are coming to terms with what has happened in this market and are more realistic with what they believe their homes are worth.
Q: Why Westbrook? Is there something about the housing market in the city that we don’t know?
A: Great place to invest, terrific proximity to Portland with great values for buyers to grow their real estate investments.
Q: Do you anticipate doing more business with new construction or sales of existing buildings?
A: We will remain strong in both areas, as there is always a consumer need for both.
Q: How do local housing markets compare to the rest of the state, or the country?
A: The Northeast did not take the hit that may parts of the country did. One reason for that is that we participated a lot with local, responsible lending.
Q: Increases in available apartment-style housing marketed to senior citizens indicates a trend in that direction. Are you concerned that this will impact the single-family home market?
A: Not at all. The demand for housing will always be in place. It is the American dream and a basic need. Seniors have more options, and that is outstanding. The balance is in place because first-time home buyers continually enter the market and are finding more than favorable interest rates and terrific values.
Q: What do you expect the property market to bring in 2012, both locally and nationwide?
A: Slow and steady growth across the board.
Westbrook native John F. Chase has ambitious plans for hisSend questions/comments to the editors.
