Mainebiz

V O L . X X X I N O. V I I A P R I L 7 , 2 0 2 5 14 R E A L E S TAT E / C O N S T R U C T I O N / E N G I N E E R I N G F O C U S I nside the bluish-gray Second Empire-house crowned by a sloping mansard roof, Laurel LaBauve is putting the finishing touches on a fixer-upper she bought for $380,000 last June and spent nine months renovating. In the second week of March when this reporter first visited, a worker was stacking a washing machine and dryer in the upstairs bathroom and LaBauve was mapping out final staging plans. Two weeks later, the South Portland house built in 1880 was sparkling with brand-new every- thing, including a gas fireplace in the living room, walnut kitchen counter, built-in bookshelves and energy-effi- cient heat pumps. "I love reimagining these old houses so that we keep all of the antique charm, but make it work for today's lifestyle," LaBauve says. Switching hats from general contractor, designer and project manager to self-employed real estate agent, LaBauve listed the new-and- improved dwelling for $799,000. It was touted as a "rare opportunity to own a historic home with the grandeur of a bygone era." Hours before her first showing, she installs a microwave oven, removes cardboard boxes and adjusts a small picture in the enclosed porch knocked slightly askew by a crew member. "It happens every time they slam the door," says LaBauve, a retired corporate executive with a mechani- cal engineering background who now devotes her time to buying, fixing and reselling homes — what is more com- monly known as flipping. For her 22nd project, there were unanticipated expenses for siding and custom-milled flooring, along with a sump pump she purchased when a winter storm flooded the basement. She's staged the finished half as a study-meets-playroom oasis, leaving the unfinished part (no staging neces- sary) for storage. Such are the ups and downs of flipping houses, an activity that has gained a higher profile in Maine and nationwide thanks in part to the popularity of reality television shows including Magnolia Network's "Maine Cabin Masters" set in the Pine Tree State. In the non-televised world, there are still bargains to be found and prof- its to be made even in Maine, where the 9% year-on-year increase in the median home sale price — to $381,500 in February — outpaced the 3.7% jump nationwide. P H O T O / J I M N E U G E R P H O T O / J I M N E U G E R Laurel LaBauve at work on the balustrade of a house she is renovating on Haven Road in South Portland. Laurel LaBauve in the newly finished kitchen of the house on Haven Road. BUY LOW, SELL HIGHER Despite Maine's pricey housing market, 'flippers' are turning bargains into profits B y R e n e e C o r d e s

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