The Connection reports from Virginia. "Stephen Good, a financial planner, just bought a three-level townhouse in Fairfax last month. The end-unit, which includes a garage, sold for $460,000 in April of 2005. Good paid $430,000. After studying the market and working with his Realtor, Good felt comfortable buying."

"'I felt I could get what I want, not that I would necessarily get a deal,' said Good. 'I don’t think I bought at the top [of the market], but I don’t think I bought at the bottom either.'"

"The assessment wasn’t far off from what George Mason University economist Stephen Fuller told a crowd of about 500 real estate professionals at the Northern Virginia Association of Realtor’s 10th annual Economic Summit. 'Buyers are out there,' said Fuller. 'They want to buy. They don’t want to buy prematurely.'"

The News and Advance. "A controversial town home development in the New London community did not get the rezoning approval it needed Tuesday to move forward. Huddleston Supervisor Roger Cheek said he did not support the development because of the problems of congested roads and schools."

"'We have enough use by rights to drown us in housing,' Cheek said. 'I think we need to start listening to our taxpayers.'"

The Washington Post. "It's taking longer and longer to sell homes in the Washington area, and even longer in the outer suburbs, a new survey reports. Real estate experts say homes are languishing because some sellers do not set realistic prices and some buyers are waiting on the sidelines for prices to drop."

"The report also shows the average median price, the level at which half sold for more and half for less, rose in September, compared with a year earlier. The sharpest price drops were in Loudoun, which was down 9.3 percent to $440,000, Fauquier, down 9 percent to $365,000 and Fairfax, down 8.3 percent to $445,000, the survey shows."

"John McClain, a George Mason University economist, said these housing prices suggest the market is 'still strong for neighborhoods that don't involve a lengthy commute, given today's rising gasoline prices and traffic congestion,' an MRIS news release said."

The Daily Times from Maryland. "Rows of new houses sit for sale in neat, upscale new subdivisions, but a glut of new projects like them and a slowing real estate market in Worcester County has left them looking a little lonely."

"A change in the market in 2005 that national housing industry experts are now calling a full downswing is affecting Worcester County equally despite the fact it's the only oceanside community in Maryland."

"It's going to start affecting jobs, experts predict. 'There are currently 1,300 members of the (Coastal) Association (of Realtors),' said Realtor and County Commissioner Bud Church. 'A few years ago that was 700 and it doubled because of the market. But we're going to see a thinning out of agents.'"

"And Church, who has sold houses for 30 years, said the downswing could last a while. 'I don't see the market changing until next spring or summer,' he said. That's bad news for a market that has seen listings steadily increase for more than a year already. In February 2005, there were 396 houses listed with Realtors in Worcester County, but in August 2006 there were 765, a 93 percent increase."

"Condos on the market have grown at an equal rate with 1,870 being on the market in the county in February 2005 and 3,541 in August 2006, an 89 percent increase. 'We're a little saturated right now, but I think we'll catch up,' said new Coastal Association of Realtors President Kevin White. White said he felt inventory was up because of the combination of so many new projects, but said the inventory wasn't 'completely out of whack.'"

"The problem is that saturation of the market with new homes isn't about to stop. Glenn Riddle has only built about 100 of 600 planned homes. Summerfield developer Mark Odachowski plans to build its first 300 homes in Snow Hill in the next 15 to 21 months while the entire development is planned to be 2,000 homes."

"If the downswing goes beyond the next year, an ADC Builder's Inc.-proposed 1,000-home development in Showell, developer Troy Purnell's proposed 150-home Purnell Crossing development in Berlin and a Highland Development Corp.-proposed 127-home division on Stockton Road near Pocomoke City could all see slow returns on their substantial investments."

"'I would not want to be sitting on a big project right now,' Church said. 'One of the things we're seeing with major projects and developments is a lot are dropping their prices $100,000, $150,000, even $200,000 (per house).'"

"'What happened nationally and in our market, prices have gone up so dramatically that people got sticker shock,' Church said. '(The market) is like a skydiver jumping out of a plane and falling, and you're waiting to see when they're going to open the chute. I don't think we're going to hit the ground, but I don't think we're going to see the market change into next spring or summer.'"