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The final word on DC home sale
Last November I posted an entry here pointing readers to an item on the Northern Virginia Housing Bubble Fallout blog, showing the asking price for a home in Woodbridge, a close-in suburb about 15-20 miles south of Washington D.C. The house had last sold in the spring of 2005 for $315,000 and was now being listed for $115,000. I posted it just to counter the spin from denialists that "Washington DC real estate never goes down." (or that if and when it does, it only falls in waaaaaaay-out exurbs like those on the way to West Virginia. You know, not really near D.C.) My posting was met with a fair bit of criticism from some readers like this: "Let's get serious. This is such an unrealistic example of what is typically happening in the market today in the metro DC area." "Bottom line, don't think this will be the price it eventually sells for." "Think the writer needs to get a serious beating on his performance review for this one!"