1692 DEEP CREEK Dr #19 reduced to $229,900 from $275,000. At one time this Deep Creek townhouse was listed for as much as $359,900. Interestingly, this property is in the same Sunplace community where back in 2007-2008 the listing agent was confident he could sell his own renovated townhouse for at least $400,000; last year, after three years of going on and off the market, that listing sold for $290,000. This case might provide some insight into the genesis of the inflated Deep Creek list prices that tend to creep down over time: agents who also own Deep Creek real estate dramatically overpricing their own listings based on the faulty assumption that Deep Creek real estate is always in high demand.
Don't forget to check back to Dan's Deep Creek Blog for your future updates on Deep Creek real estate statistics.
Sunday, June 5, 2011
Another big Deep Creek townhouse price reduction
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2 comments:
I'm so glad I found this blog. I've looked at vacation property elsewhere and found it really odd that Deep Creek Lake still had so many overpriced properties that have been listed for so long (many 1 year+). I've rented there many times and while it is nice, it sure seemed overvalued for today's market.
It makes more sense now. It appears a few real estate companies / brokers who also own properties themselves are manipulating the market. There are definitely better values elsewhere and now I understand why.
Thanks for the comment. Enjoy the blog.
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