By David Nakamura, Washington Post
Across the Washington region, homeowners’ dreams of a quick and easy payday are evaporating as the days tick down to President-elect Barack Obama’s swearing-in ceremony Jan. 20: The inaugural housing market has gone bust in record time.
Those who listed their properties within a week or two of Obama’s Nov. 4 election victory were able to score deals, but those who jumped on the bandwagon after that have largely been left without offers.
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Take Tim Tate, for instance. When he heard that a neighbor had rented out his condo in the trendy Mather Studios in downtown Washington for $3,000 for inauguration week, he and his friends hatched a plan to rent out their own units and use the profits for a week-long jaunt to Morocco.