Piney Station is One of 41 Subcommunities Comprising Piney Orchard in Odenton, Maryland

Another steep price drop for 2620 Barred Owl Way in the Piney Orchard section of Odenton, Maryland, shows the dangers of overpricing your property.

The home was first listed for sale at $365,000, then the price was lowered to $345,000 a few weeks ago. It's now been reduced to $319,900. The home has been on the market for 72 days.

It's an REO property, meaning the home has just been through the foreclosure process. But for an REO, it's in terrific condition. Brand new neutral paint and carpet throughout. Upgraded cabinets & granite counters. 3-level bumpout. Superbath with separate tub and shower. Large deck with walk-out basement and a paver patio. 3 bedrooms, 3.5 baths.

Fannie Mae, which owns the property, requires that the buyers pay 100 percent of the state transfer and recordation charges on the transaction. See the full listing with all the photos here: http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=4021770XPX7X&p=DE-340785888-659#1