Home Buying in Ocean City>Question Details

Sallyduke, Home Buyer in Ocean City, MD

Why are these townhouses selling or 70,000 to 80,000 when similar ones are selling for 280,000?

Asked by Sallyduke, Ocean City, MD Wed Aug 28, 2013

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Mechelle Nichols’ answer
Hi Sallyduke,

What you will find in the price range of 70K to 80K? Efficiency condo's under 400 sq. ft. with 0 bed & 1 bath from $69,900 to $89,900 with a pool. All conveniently located close to beach and boardwalk. While pricing for 2 story townhome with 2 bedrooms & 1.5 bath will begin at $158,000. Are you looking for more information on comparative market values?
1 vote Thank Flag Link Thu Aug 29, 2013
I agree. I am not aware of townhouses selling in that price range. Which building are you seeing?
1 vote Thank Flag Link Wed Aug 28, 2013
Hello Sallyduke,

Please review to see if they are short sales and/or REO/Foreclosure properties. Distressed properties are usually priced significantly lower than a standard owner sale.

good luck
0 votes Thank Flag Link Wed Aug 28, 2013
I would have to agree with Joy. To my knowledge there have been no townhome sales at those prices. Where are you getting your information?
0 votes Thank Flag Link Wed Aug 28, 2013
I know of no townhomes selling for $70k-$80k - you may be viewing Time Shares/Quarter Shares
0 votes Thank Flag Link Wed Aug 28, 2013
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