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Ocean City Maryland bayside condos to be sold tomorrow at dueling auctions

In what must be a major league sign of the times, dueling and competing auctions are planned tomorrow for the Bahia Vista condominium project in Ocean City, Maryland:

“Developer and landowner Spiro Buas will auction 11 units from the Bahia Vista I & II condominium buildings. At the same time, his former partners — [...]

TWO AUCTIONS SET FOR OCEAN CITY MARYLAND CONDOS

It appears that the auction scene is significantly heating up in the Ocean City market with the announcement of 2 condo project auctions in the same day, as reported in yesterday’s Ocean City Today:

“Competing auctions will be held later this month for units in a bayside condominium because of a fractured partnership.

Nationally, home prices fell 12% in 2009

CNNMoney.com is reporting today:

“The real estate roller-coaster ride continued last year as the median price of U.S. single-family home plunged 11.9% to $173,200.”

Take your pick where we go from here:

“Michelle Meyer, Barclay Capital’s economist for new home construction, is predicting continued price declines through early 2010. By the second quarter, however, [...]

Reduction In Early Property Tax Discount Proposed By Worcester County Maryland Commissioners

The Maryland Coast Dispatch is reporting the latest non-tax-increase tax increase this week proposed at the meeting of the Worcester County Maryland Commissioners:

“An attempt to recoup about half a million dollars for the tight Worcester County budget next fiscal year by reducing the discount for early payment of property taxes to half a [...]

What if you lost your house – but you still have to pay

CNNMoney had a very thought provoking article today that should be a must read for any home owner, particularly those  pursuing  a short-sale or deed-in-lieu end to their troubles:

“Former homeowners may still be on the hook if there’s a difference between what they owed on their mortgage and what the bank could sell [...]