Experts Provide Forecasts for 2012

January 3, 2012 in Articles

Author: Steve Baumann, David Harrigan, Frank O'Connor, Tony McDonald
Publication: Portland Press Herald
This article discusses forecasts for 2012 for the different commercial real estate sectors in Maine.
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Picturing Portland in the digital age

December 29, 2011 in Articles

Author: Tom Bell
Publication: MaineToday

Picturing Portland in the digital age

A trove of images that offer an unusually detailed glimpse of the city's architecture in the Roaring '20s is finding its way online.

 

Stored in the city tax assessor's office for nearly 90 years, a remarkable collection of historic photographs of more than 10,000 Portland buildings is now being digitized so they can be readily accessible to anyone with an Internet connection.

 



Mortgage rates fall to record lows

December 15, 2011 in Articles

Author: Les Christie
Publication: CNN Money

Mortgage rates fall to record lows

@CNNMoney December 15, 2011: 1:44 PM ET
mortgage rates

NEW YORK (CNNMoney) -- Mortgage rates sunk to record lows again this week.

The average rate on the 30-year fixed mortgage fell to 3.94%, matching the all-time low hit in early October, according to Freddie Mac's weekly mortgage rate survey. Meanwhile, 15-year fixed-rate loans hit a new record low of 3.21%, surpassing the record set on October 6.

Five-year adjustable rate mortgages also plumbed new depths, hitting 2.86% for the week.

In Memory of Edward Baumann

December 4, 2011 in Articles

Author: Melanie Creamer
Publication: Portland Press Herald

Edward Baumann, 79, CPA, devoted husband and father

By Melanie Creamer mcreamer@mainetoday.com
Staff Writer

 

SCARBOROUGH - Edward Baumann, a prominent certified public accountant in Portland, whose family bought two blocks of real estate in the Old Port in 2003 and helped to transform the area into a destination for shopping and entertainment, died Wednesday. He was 79.

 

click image to enlarge

Edward Baumann, who worked as a certified public accountant for more than 50 years and was a partner at several large accounting firms, died Wednesday at age 79.

Family photo

PASSAGES

Each day the newsroom selects one obituary and seeks to learn more about the life of a person who has lived and worked in Maine. We look for a person who has made a mark on the community or the person's family and friends in lasting ways.

 

Mr. Baumann worked as a CPA for more than 50 years and was a partner at several large international accounting firms. His success in the industry led him to become president and chairman of the board of directors at First City Savings Bank in Dallas, Texas.

In 1989, he moved to Portland and started his own accounting firm, Baumann & Co. His son, Karl Baumann, who owns an accounting firm in Wellesley, Mass., said he took on several high-profile accounts such as General Motors and Chrysler. He also handled complex financial accounts for businesses in Greater Portland. Baumann said his father did tax planning, estate planning, business planning and certification of financial statements.

"He enjoyed the challenge of doing all of these different things," his son said. "He was excited and enthusiastic about his work. He had an altruistic outlook. In a sense, he was trying to minister (his clients) and give them the best advice."

Mr. Baumann used his expertise in the industry to branch out to real estate development. In 2003, his family bought two blocks of real estate on Wharf Street and Fore Street in Portland's Old Port. Steve Baumann, the youngest of his four sons, who's also a real estate broker and developer in Portland, oversaw the redevelopment of the area. Together, the Baumanns transformed the area and created a popular destination for dining and shopping.

"I needed him. He was the brain," Steve Baumann said. "We couldn't have done that without each other. He was really proud. The city loved what we did."

The family sold the buildings in 2008 when Mr. Baumann's health began to fail.

He was remembered by his friends Friday as a warm and generous man who loved his family deeply.

One of his closest friends, Joseph Soley, who owns property in the Old Port, said Friday that he had a great spirit and sense of humor. He said Mr. Baumann was like a brother to him.

"He was one of the most generous, caring and sharing people," Soley said. "We had this deep and heartfelt relationship that was irreplaceable. I'll miss his spirit."

He was a devoted husband to Stella Baumann for 57 years. The couple met backstage at a performance where she was singing. He accompanied her on the piano. Soon after, they started dating. They got married after he was drafted into the Air Force to serve in the Korean War.

"It's one of those great love stories," Steve Baumann said. "They were best friends. They did everything together."

Baumann said his father was a dedicated family man, who always encouraged him and his brothers to think outside the box. He said they always sat down for dinner as a family and talked about things such as business or philosophy.

"He was a caring father. He wanted the best for all of us," his son said. "He loved his four boys."

Mr. Baumann's health began to decline after a heart procedure he underwent in 2004. Steve Baumann said he struggled for the past couple of years.

"I'll miss being able to talk with him and hear his voice, and go to him when I have a problem," he said. "Sitting in a room with him ... his presence was powerful."

Staff Writer Melanie Creamer can be contacted at 791-6361 or at:

mcreamer@pressherald.com


Spiritual Readings by Dutchess has leased 290 US Route One

November 28, 2011 in News

Author: Matthew Cardente
Cardente Real Estate is pleased to announce that Spiritual Readings by Dutchess has leased 1,450 square feet of retail space from AMG Investments, LLC at 290 US Route One in Kittery. This transaction was brokered by Matthew Cardente of Cardente Real Estate.

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