Home values

My wife and I have owned our home for 2 years as of less than 2 weeks ago. While we bought at a point where the market had already dropped quite a bit and we paid $50,000 less than the original list price, values haven't exactly gone up since, so I pay close attention to the value of my neighbors' homes that sell.

Two houses in my townhouse complex have sold in the last month. One was originally purchased in 2002 for $178,500. It sold 2 weeks ago for $150,000. The second was originally purchased in 1999 for $146,500. It sold less than a week ago for $126,000.

Considering how high the market got after these homes were originally purchased by their last owners, it's amazing how far they've fallen. Of course, both were foreclosures, which certainly hurt their value, but still, it's not good.

Here's to hoping my neighbor who closed on her home today got a better price for her place...