335 Waterfront Greens Update

Last week I assumed 335 Waterfront Greens was on track to follow its "siblings" (199 UPPER HIGHLINE Dr (short sale) and 342 LAKEFRONT LINKS Dr (foreclosure)) into the foreclosure process. Over the weekend I learned the real story about this property. The same property that in 2009 a local real agent touted as a property with great rental income (summing up her "analysis" with the phrase "Cha Ching") while listing it for sale at nearly $800,000.

Through patience, perseverance and enough insight to reject the claim that it was a good deal in 2009 (as at least one local estate agent suggested), the new owner managed to buy this property for $400,000. Yes, half of the 2009 list price that had local agents prematurely ringing their own cash register. Congrats to the new owners, well done!

So how did this all happen? Well, I'm told by a reliable source that the shortly after the previous owner filed for bankruptcy the court ordered the property to be sold at auction. So on a cold, snowy day back in December the property was auctioned to the highest bidder in a very small crowd. Personally, I'm curious to know why the agent that suggested you should buy this property for $800,000 in 2009 wasn't there to buy it herself. Think about that one for a minute!

There you have it a Deep Creek deal in the making. Don't let the agents fool you into thinking there aren't deals out there to be had if you have some patience and are willing to do some legwork. 93 Brenneman Lane was a similar situation that we followed on this blog over several months (years). And there have been others as well.

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