Just our of curiosity... I wanted to know how bad the values had dropped (really, not what the media says) so I pulled files in my office for repeat buyers and sellers...
Here is what I found... a condo purchased in August 02 for 94,000.00 sold in August 2008 for 106,810.00 almost a 13% increase in value (less than the average 5% per year, but not a bad profit considering the condo was rented out to pay for itself and some profit).
Another condo (same area) purchased in July 05 for 135900.00 sold in July 2008 for 157,000.00... at 16% increase in value over a 3 year period (the average is 5%) I feel that a profit was made, since these condos served the purpose they were intended
The values certainly did not drop although they didn't go up 100%, you still made something, if you were counting on the 100%, you should never count your money unless you have it in hand...nothing is guaranteed.
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