Friday's Deep Creek Price Change Spotlight

Another property from the 2010 Deep Creek Distressed Properties List finds its way back into the Deep Creek Price Change Spotlight. This week 78 CLUBHOUSE Dr, which was already exhibiting signs of distress, saw its price reduced by another $30,000. For those who might recognize the address, you'll realize that this is also another example of the continuing distress in the Waterfront Greens community. In 2005, the current owners purchased the property for $589,000; today, the list price sits at $459,000 and is fast approaching the 2004 sold price of $400,000. In the meantime, the current owners have been trying to sell the property for more than three years (listed in 2008, relisted in 2009, relisted in 2010, two price changes already in 2011).

On another note, the listing indicates the price is more than $100,000 below the January 2011 assessed value. Well, if you've heard "The Rent Is Too Damn High" rant from last year's NY Governor's race, you might be inclined to think a "The Assessment Is Too Damn High" parody is in order here.

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