Across the Washington region, homeowners' dreams of a quick and easy payday are evaporating as the days tick down to President-elect Barack Obama's swearing-in ceremony Jan. 20: The inaugural housing market has gone bust in record time.

Whether people move to Columbia's Clemens Crossing neighborhood for dramatic architect-designed homes or affordable tract houses, their reasons for buying in the neighborhood are largely the same: good schools, a woodsy setting and a convenient location.