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1308 S St. NW

List price: $899,000

Previous sale price: $319,000 (August 1999)

Square footage: 1,660

The Washington Post may think the housing bubble is bursting, but what does it know? To celebrate its ignorance, here’s a “HUGE PRICE REDUCTION”: After taking every single feature into account, the owners of this Logan Circle Federal have lowered the price from absurdly expensive ($925,000) all the way down to simply unaffordable ($899,000). After all, there are still plenty of downmarket delights. For instance, the kitchen, while appointed with luxurious granite countertops, has scuffed linoleum floors. And that’s not the only subpar flooring: There are also wood, tile, and beige nylon carpeting—largely unmatching—in various other parts of the house. Another factor: The master bedroom features gorgeous bay windows, but they look down on a bright streetlamp. With your new bargaining power, maybe you can demand a set of blackout shades before closing. —Brian Beutler

Art accompanying story in the printed newspaper is not available in this archive: Photograph by Darrow Montgomery.