2011 - END OF YEAR REPORT - MILL POND COMMONS AT PAYNTER'S MILL

Mill Pond Commons saw their first Single Family Home re-sale activity in several years.  There were two closings in 2011, one a Berkeley (like the one shown here) at 16525 Howard Millman Lane  that closed in May after being on the market a cumulative 390 days.  The Seller got 76% of her original asking price of $479,000 or just $365,000.  The last re-sale Berkeley to sell went for $422,000 back in September of 2008.  Then 16254 John Rowland Trail (an Asbury model) closed in late December after 270 days on the market.  It sold furnished for $300,000 or 91% of the original asking price of $329,000.  A foreclosed upon 3 bedroom Twin Home remains under contract  waiting to close.  It went under contract on October 24th at the price of $259,900.  This twin sits near the commercial area at 16256 John Rowland Trail.  That leaves 11 homes on the market  as several gave up in Q4 and withdrew from the market.  There are two 3 bedroom Twins currently listed at $324,146 and $315,000.  They have been listed for 923 days and 112 days respectively.  The Developer (Ocean Atlantic) still has three vacant lots listed and are now offering these lots without Builder tie in for around $100,000 each.  They are also offering lot/home packages for $324,800 up to $354,800.  There are four Carrolton model homes listed for sale.  This is the mid sized Beazer built model.  They list for $369,000, $449,000, $359,000 and $399,900.  Days on market are 564, 549, 172 and 122 respectively.  There is one Asbury model left on the market (the smallest SFH offering by Beazer) being offered furnished for $337,000 and it has been on the market for 394 days.