Friday's Deep Creek Price Change Spotlight

Just as we saw more evidence of distress in the condo/townhouse segment of the Deep Creek real estate market, 24 HOOPPOLE Ct Unit B-6 experiences another price reduction. This is now the fourth price reduction since the property was listed for sale last May. The new price is $279,900, $70,000 less than last May's list price and more than $100,000 less than the 2005 purchase price. Another seller looking at quite a big loss. When you consider all the real estate agent propaganda about ever-rising prices and promises of paying for a child's education with vacation home equity you really have to feel for some of these people affected by the dramatic downturn in the market since local real estate agents called the bottom (or near bottom) more than three years ago on March 10, 2008.

This property has one of the lowest prices relative to the 2005 purchase price that we've seen, so I wish these sellers the best of luck on a quick sale and a chance to move on from this unfortunate investment.

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