Congratulations to Marc Cormier, Associate in our McLean office, who was quoted in The Washington Post this past Saturday. The article discussed short sales and the fact that more higher-end homes are ending up in such deals.
Marc discussed a 10-bedroom home in Potomac, which was originally put on the market last year for $10 million. He said the seller reduced the asking price to $5.5 million last month, and it’s listed as a short sale. He went on to comment on the future of higher end properties becoming short sales.
You’re going to be seeing more of that from now until 2010, Cormier said.
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