This house has been on the market for over six months. There have been a couple of "Open Sundays."
This is a new addition to the market. Almost as if it went on the market at a reduced price.
These are right on Rock Creek Park. Earlier in the year they were going for just under $600,000. The one with the "Price Reduced" is now going for $475,000 and it's the highly coveted corner unit, with greenhouse.
Walking around today there were lots of for sale signs. I had talked with one member of our IT staff. He mentioned that he has a couple of programmer friends that are now stuck with second properties that they are desperate to get rid of but so far have had no luck.
Lynn Edmonds and his wife, Sebnem, could barely wait to sign on the dotted line back in May when they committed themselves to pay $796,000 for a three-floor townhouse under construction in Alexandria's Cameron Station.
But since May, the sales prices for the development have fallen -- and units like the one the Edmonds bought are now being sold for $699,900. The Edmonds are facing the prospect of a $100,000 loss in value before they even walk through the front door. - Washington Post
This whole article is good and includes other sad stories. You can put us in the same catagory as this family:
But many would-be buyers have withdrawn from the real estate market, saying prices are just too high to consider making a purchase. Dan McGrath, an organizer for the Service Employees International Union, and his wife, Teresa, who works at the Environmental Protection Agency, have been married for four months, have a combined income of about $100,000 a year and would ordinarily be good candidates to become first-time homeowners. But the McGraths, who live in the District's Shaw neighborhood, have been shocked and repulsed by the prices for homes in the area, including the $400,000 price on one 800-square-foot studio they visited.
"We can't figure out who -- for the life of us -- would buy a place with two doors for $400,000," said McGrath, 28. "We want to think about a future but homeownership here is just not possible."
Housing Market Cooling, Data Say - Washington Post