Traditional home sale prices hit new low in Kings Deer

For only the second time since 2004, a Kings Deer home over 5000 square feet that is NOT a foreclosure, has sold for under $500,000 (less than $100/sf).  The first time was in 2008 and it was a divorce/financial distress sale and the home had been on the market for nearly a year.  The most recent sale was in December 2010.  The home at 710 W Trumpeters CT built in 1997 has 5 beds, 4 baths, 3 car garage and 2.5 acres in the trees.  According to the listing agent, it was in beautiful condition and the cash buyers got a great deal.  It sold for $490,000, setting a dangerous precedent for future traditional home sales in the neighborhood.  This sale was a corporate relocation, so the sellers were incented to sell it quickly in order to take advantage of their company's relocation assistance package.