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Particularly decimated in-town housing submarkets fit into a patchwork quilt that also includes places where it's still 2005 (well, maybe not quite that strong, but you get the point). This attractive 2 bedroom, 2 bath house in the heart of Virginia Highland is an interesting case study. It's a fairly immaculate renovation of a 1930 bungalow, but it's a bit cramped at just 1,363 square feet. Back in 2005 it sold for an astounding (even for 2005) $530,000, or $388 per square foot. Though the owners today are more realistic in listing at $459,000 ($336/foot), we wonder if they're in for some additional pain. After all, though the finishes aren't as nice and the location not quite as prime, this house is going for $399,000 and has an additional bed, bath and 1,000 square feet. One may argue that the consumer for a high-end 2/2 in the Highlands may be insulated somewhat from certain economic concerns. But the buyer is firmly in control of this market, and from what we've seen and heard, he is merciless given the blood in the water. Thoughts?
· 889 Virginia Circle NE [Zillow]