Jay. I am looking forward to seeing the new property tax appraisals on our homes that is set for January 1, 2010. Let's see if the county commish tries to increase values on us after all that has taken place in the housing market.
I know for a fact that homes in my neighborhood are down 15-20%%.
Homes that sold in 2002 for around $200k are now selling in the upper 160's to mid 170's.
I would only expect to see my new home valuation reflect these huge property value drops!