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Real Estate
Reply to "Mt Prospect in North Potomac"
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[quote=Anonymous]Don't be fooled that you'll never be able to live here unless you buy one of the remaining lots. Of course some people who bought will eventually need to sell. The problem with buying into any new home community late in the process is that if an early buyer decides to sell for more than they paid, but less than you've paid, they've quickly lowered the value of your property. For example, the PP who paid $2.1 could sell for $2.5 and be fine, but by doing that they've instantly caused your property for which you paid $3.1 to be worth $600K less. If the housing market stabilizes, which it seems to be doing, this absolutely will happen. It's not even a phenomenon unique to MP.[/quote]
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