MILLER'S LANDING AT PAYNTER'S MILL - NEW LISTINGS

Extreme negative pricing pressure continues to be applied in this lovely condo community.  The builder reduced price on their 1503 - Nellie Stevens  model (large two bedroom, second floor unit) to $249,000  while also offering $10K in selling assistance and two years worth of condo fees ($8K more).  It's the only Nellie Stevens listed for sale.  At the same time, a re-sale Bonica Rose model was reduced again to $163,000.  The Bonica Rose is the small two bedroom unit on the second floor.  1205  has been on the market for 767 days now.  And to add insult to injury, 1106 Miller's Landing  came on the market last week and is in Forclosed status.  It is a Sawtooth Oak which is the mirror image of the Bonica Rose (reversed floor plan) and it is offered by the bank for $185,850.  At the same time, another re-sale Sawtooth (806)  came on the market in "short sale" status and has been offered for $165,000.  This is not good for Miller's Landing.