Case study of what's going on in Washington

This from the Northern Virginia Housing Bubble Fallout blog, shows the asking prices for a home in Woodbridge, which (if memory serves) is about 15-20 miles south of Washington D.C. Just keep telling yourself: Washington area real estate NEVER goes down…

1926 WILLOW LN WOODBRIDGE, VA 22191 List Price: $115,000 Prior Sale: $315,000 4/25/2005 Listing Date: 04/21/07 -63.5%

Price Reduced: 05/23/07 — $339,900 to $319,900 Price Reduced: 06/20/07 — $319,900 to $289,900 Price Reduced: 07/19/07 — $289,900 to $278,900 Price Reduced: 09/13/07 — $278,900 to $249,900 Price Reduced: 10/19/07 — $249,900 to $239,900 Price Reduced: 11/19/07 — $239,900 to $115,000

On Market: 213 days

Before it's here, it's on the Bloomberg Terminal.
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