These home were very high in price, and they went all the way up to and over 800K, then the market fell, and there are lot of people wanting to get out, because they can't afford the house anymore. Also, I know this,
because this happened to me, I bought in 2005, and the house sold in 2008 for 200,K less.
My Interest rate went from 6.375 to 9.5% pricing me right out of the property. Could not refinance, or sell.
I understand this better than anyone, I used to live very close to there.....