Deep Creek Housing Downturn ..

seems to have hit townhouses/duplexes (or townhouse/duplex owners) particularly hard. For evidence refer to the following subset of 2010 Deep Creek distressed properties.

ACTIVE

257 MARSH HILL Rd #2: short sale, current list price: $299,900, 2006 sold price: $319,000. "VERY MOTIVATED SELLER, WILL CONSIDER ALL REASONABLE OFFERS!"

257 MARSH HILL Rd #17: current list price: $299,900, 2004 sold price: $320,000.

1692 DEEP CREEK Dr #29: current list price: $299,900, 2006 sold price: $295,000 + renovation cost, agent-owned. Owner previously told me that he was confident this property would sell for $380,000+ and indicated that it was a good investment. Incidentally, in Jan 2008 this same agent told us all that "local developers realize that Deep Creek has always been in high demand and that prices will go back up this summer." In the meantime, he purchased a lakefront home with a $750,000+ mortgage to take advantage of one of those tax avoidance schemes.

257 MARSH HILL Rd #13: current list price: $321,000, 2005 sold price: $355,000.

60 BRIGHT Psge #60: current list price: $379,000, 2007 sold price: $417,000.

611 MARSH HILL Rd #1: current list price: $1,185,000, 2008 sold price: $1,325,000.

565 GLENDALE Rd #312: short sale.

13 WINDING Way: current list price: $249,999, 2004 sold price: $285,000, over 500 days on market.

24 HOOPPOLE Ct Unit B-6: current list price: $349,000, 2005 sold price: $380,000.

SOLD

1692 DEEP CREEK Dr #3: short sale, 2010 sold price: $309,000, 2005 sold price: $380,000. Recent sold price nearly 20% below 2005 sold price.

IN LIMBO

12 SKI HARBOR Dr #12: current list price: $365,000, 2007 sold price: $400,000. Delisted July 10, 2010.

ON THE VERGE

254 WINDING TRAIL Ln Unit 7B: current list price: $435,000, 2008 sold price: $435,000.

Don't forget to check back to Dan's Deep Creek Blog for your future updates on Deep Creek real estate.