Tuesday, July 19, 2011

After 1516 days on the market is it really still "new" construction?

Here we have 255 FANTASY Ln MC HENRY, MD 21541 built in 2007 and still listed as new construction after 1516 days on the market. And, oh by the way, the price was recently reduced again (from $849,900 to $629,900 to $599,900). Property was originally listed for at least $899,900.

According to p. 205 of this link, apparently the current owner (RIGALCO LLC, which appears to be a shell company for an Annapolis-based general contractor and his business partner) is well behind on the property taxes and the property may be sold by the county to collect the debt.

Property #: 257
RIGALCO LLC ELECTION DISTRICT NO. 18 ACCOUNT NO. 18085135
All that parcel of land assessed to the above in Tax District No. 18, known and designated as Lot 12 on the plat of Phase IX-A Fantasy Valley recorded in Plat Book DKM 3, page 265, containing 0.47 acre, more or less, and described in deed from D. C. Development, LLC to Rigalco, LLC dated November 10, 2006, and recorded November 14, 2006, in Liber No. 1266, folio 89, one of the Land Records of Garrett County, Maryland.
State and County Real Estate Taxes Due for 2009-10 and 2010-11
Total Amount of Taxes $15,023.36
DOI Penalty $ 0.00
Cost of Sale $ 146.00
Sanitary $ 0.00
Total as of the Day of Sale $15,169.36
Assessment $597,930.00

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

1 comment:

Dan said...

The countdown to 1,500 days is on and the real estate agents are really trying to push a sale on this one. Our old friend Ned showed up again today presumably looking to land another big commission.