Time to Cash in Your Real Estate Investments

Google Groups : alt.politics.bushLynn 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.


"We blithely stepped into the contract, thinking it would hold its value
-- but that's not the case," said Edmonds, 46, a program analyst and Air
Force veteran. "I feel so stupid putting myself into it. It's real
estate -- I knew on a theoretical basis that it might go up and it might
go down, but now I know it on a practical level."
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