Mar
28

Camden Mayor to Make $36,250 on Land Deal to the City?

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OK, so this property sold for $190,000 in 2002 and now the City of Camden is paying $362,500 for it? That price would indicate an annual appreciation rate of about 7.4%. Not too bad considering the, well…you know, the recession. The City offered 90% of the asking price, which I haven’t seen very often in recent years. On the surface, it sounds like the City didn’t do their homework. I’m sure they saved $1,000 by not getting an appraisal, so they’ve got that going for them……
Michael Dodds, MAI, CCIM
Categories : Camden

Comments

  1. Brantley Clark says:

    Oh wow! By the way, I love the graphic for this post.