37 Front Street Unit D was sold in June of 2005 for $338,000. It's a 2 bed, 2 bath, 1000 sq. ft. condo near Memorial Beach.
In June of 2008 it was put on the market for $230,000. What a price drop! More than $100k less than the sale price three years earlier. Surely someone would snap it up.
But no one did. And the price was dropped to $215,000 in July.
It sat on the market at that price until last month when it was lowered again... on March 1st to $189,000.
Still no offers.
So on March 31st. It was lowered to $170,000.
Still nothing.
So last week it was dropped to $149,000.
You guessed it, still no offers.
Just yesterday it was lowered to $139,000.
The downward spiral continues.
Keep up the good work!! Thinking about moving back to California in a few years, and I want to stay informed about the local economy.
ReplyDeleteThat one pic says volumes about the appeal of this place--where obviously only the most insipid "investor" would bite during the climb. But not now, for any price. I'm guessing market value is closer to sub-$100K.
ReplyDeleteIf you want to stay in a funky cabin in methvile by the river,rent one...
ReplyDeleteThe pictures on the listing tell it all. There is a nice on of a bridge but not one of the actual inside of this dream dwelling. Parking lot looks great.
ReplyDelete