New Renter,
No problem, I wasnt offended and dont take things like this personally. To me its mostly about learning, exchanging ideas and entertainment around here. The market you are looking in is a whole different ball of wax. A decline from $2M to 1.5M wouldnt shock me either. Here’s what you are more likely to run into. In the nice coastal areas (like DM for example) you are just getting started with nice homes around $2M today. I know as I’ve been looking in DM in that range. The really good stuff starts closer to $3M. So even if prices drop from $2M to $1.5M, the problem will be finding something you like. Ultimately, finding a tear down and building a custom home might be a better option. I have a couple escrows right now on $1.5 to $2M spec homes that I found for my clients after 3 and 5 years searches before they ever went on the market. If you really want something nice, which I’m sure you do, I would recommend that you never stop looking. You never know when you will find exactly what you are looking for and if you do, it might be so perfect that you will end up pulling the trigger sooner than you thought.
Personally, I have about 15 to 20 years to find what I am looking in a very limited four block radius. Where there is at most 1 or 2 sales a year. I need to find a tear down to do what I want. I even know the builder that will be building my home when I am ready. When i find the right location, I will be pulling the trigger no when it comes up.
