We know D.C. Get our free newsletter to stay in the know.

Price Pick of the Week:
735 Rock Creek Church Road NW

Original listing price: $442,500 (March 15, 2007)
Current listing price: $325,000 (Aug. 3, 2008)
Slash rate: 27 percent
Square footage: 1,300

This basement condo is located up the street from the Petworth Metro station in an area now called “Columbia Heights East,” at least according to the real estate listing. The other two units in this row house sold late last summer for $435,000 and $450,000. A Craigslist ad explains the drastic price reduction on unlucky number three: “The floor in the rear room of the last unit experienced some damage as a result of the recent rain storm, and because of financial issues, I can’t repair the damage.” The estimated repair cost is $8,200, according to Re/Max Supreme Properties agent Roger Neely, who says water entered the unit from the front and the back, following the “really, really torrential rains” earlier this summer. That will all be a distant memory by the time new owners move in, explains the posting: “I have an estimate from my contractor to replace the flooring & waterproof so that issue will not happen again!!! I will credit the buyer at closing, so you won’t pay a dime out of your pocket…You can’t lose!!!!!!!”

Got something for Buyer’s Market? Send tips to pick@washingtoncitypaper.com.