A blog dedicated to tracking the continuing decline of housing markets throughout the USA. It is a long slow decline. But, decline it will. The speculative episode was simply unsustainable. With special attention to the Washington, DC area. Please join in the discussion.
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Short Sale in Silver Spring, MD: 30% Real Dollar Decline from 2006.
Posted on July 23, 2008
The number of short sales and foreclosures available for purchase is increasing in the Washington, DC area. Here is one short sale from the Kemp Mill neighborhood which is in Silver Spring a few miles outside of the beltway. It is located at 908 HYDE RD, Silver Spring, MD 20902.The Maryland Property Search shows this 3 bedroom house was purchased in September 2006 for 459,000. Now almost two years later it is being sold as a short sale for 340,000. Which is a nominal reduction of 26% and a inflation adjusted decline of over 30%.MLS #: MC6811928. Prices continue to decline in the Washington, DC...
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