Asked by Marcus, Virginia • Wed Dec 10, 2008
We're looking to buy a condo/TH in Bear Trap Dunes for family use and as a vacation rental. We've seen asking prices drop noticeably in recent months (lowest asking has gone from 320 to 279K in six months for a 3/2), and there seem to be tons of properties on the market (more than 40, from a quick count). What's the average d.o.m? Have any gone condos recently gone for 20% less than asking, or even less than that? How are economic conditions affecting the community? Basically, we can afford to wait and let prices drop even more but are starting to pay more attention now that it's squarely a buyer's market.
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