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220 Anthony's Ln, Huntingtown, MD

This was not an arms length transaction sale.  Similar to the one on Stephanies Ln that sold in January 2010, these homes were taken over by the builders bank.  Merrick Properties used an affiliate bank to sell these at high prices (about 100k over comparable market at time of sale) of $800 to $900k.  Now they are being abandoned as they lost another $100k and Merrick is working with bank to unload these taking even bigger loses to clear them from the market.  These houses are today easily worth mid 600s to $700k or more.   They are not showing in public records as short sales or bankruptcies even though the listing for the one in January had "Bank Owned" in the listing. 
  • June 08 2010 - Huntingtown
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