Brokerage Barons See Washington Making a Slow Recovery

John McEnearney of McEnearney Associates, left, and P. Wesley Foster Jr. of Long & Foster say they're finding it tough to make a profit. (By Dayna Smith For The Washington Post)

McEnearney: If they don't price it right, it's gonna kill 'em.

Foster: You've got to price it right.

McEnearney: I think sellers are getting more accepting about the prices they can get now, but not enough, because homes are still remaining on the market.

Foster: If they've got a real need to sell, they do [accept the lower price]. They have to have a real need to sell, otherwise they don't.

What if the economy doesn't recover soon?

Foster: We're going to struggle. But people need housing. We're going to keep this company going. I've already given a third of it to my children. Before I die we'll give the whole company to my children.

McEnearney: I turned over the presidency in 2007 to my daughter [Maureen McEnearney Dunn].

Is traffic a housing issue?

Foster: It sure is.

McEnearney: I just heard that the number one city in the United States with a traffic problem is Washington.

Foster: We beat Los Angeles?

McEnearney: We beat Los Angeles. And that's incredible. It obviously is affecting people coming to this area.

Foster: I wish they'd take it more seriously. So many people don't want you to widen roads; they want you to use Metro, public transportation. There's always a big argument going on.

What do you think of bloggers who seem to root for an even bigger bust?

McEnearney: I'm not seeing that.

Foster: Good Lord. I'm not either. I'm hoping it's just a fringe bunch of nuts. Because, you know, I think that would be awful for the whole economy.

E-mail Elizabeth Razzi atrazzie@washpost.com.