Coastal property values plunge

A wave of realistic behavior washes over coastal real estate market:

Condominiums or building lots that had been on the market for $300,000 may be worth less than $200,000. Once million-dollar homes may now be well down into six figures. Ironically, perhaps, real estate agents say lower values could help sales by convincing would-be sellers to drop asking prices to realistic levels based on the current market rather than the peak of the boom.

In a related story, the value of houseboats skyrocketed...