Always wanted a view or waterfront home?
Now is the time.
Depending on the area, studies show high end pricing (greater than $500,000) in King County having decreased 30-50%.
Here is an extreme example, on a home I love. It's an EXTREMELY private mid-bank waterfront home in Normandy Park, WA. It has full, protected, unimpeded sunset/Vashon views.
It started at $4,250,000 in May of 2008 right before the Real Estate Collapse:
More than 2 years later, it was listed a full $1,500,000 less than it had originally been offered for:
Currently, it is listed at $1,695,000, a full 60% decrease in listing price:
Obviously, no single example is an accurate reflection of the market as a whole. But, where family/median price homes fell around 35%, the high end market fell more. Your discount on these homes, now, the ones listed, is significant.
There are some good ones out there!