Which developments are better really depends on your needs. Do you need more than one bedroom? How important is a garage? Do you need to be close to the parkway?
There are many available and if you are a first time homebuyer, you can get the $8000 credit until 12/1/2009, which might help with your closing costs. You also might consider asking the seller to help out with the closing costs. In this market, you might find a seller who will do so. Finally, if you have time, there's a short sale available, too.
Finally, when considering a condo, you have to take into consideration the association costs. To get a good picture of the whole situation, you need to look at what you can afford monthly. Then, you can start looking seriously and work all the angles to your favor.
If you would like the name of a few good mortgage reps, I'd be happy to supply them for you. Or, if you would like to search properties in town to see where things are selling, you can order a market snapshot from my website. That will give you "sold/closed" information which shows what the market really is doing. Asking price means nothing--its where things are selling that is important.
The best way to determine your offer is for your real estate agent to provide you with comps. Your offer should always be based upon recently sold homes instead of just a certain "percentage" off of the asking price.
Now is a great time to buy because both home prices and interest rates are low. Also, if you are a first time homebuyer and close before 11/30/2009 you may be eligible for the $8000 tax credit.
Here is a link to some active condos/townhomes in your price range. If any of these interest you please let me know and we can go take a look.