Your home is going to be effected more than those in the lower price ranges. And in my experience, people are a bit leary about buying in your area if they have to commute a good distance. No one knows if the price of gas will shoot back up to $4.00 this summer or not and that unknown factor is going to impact the market value and sale of your home. Also being on the golf course is not as much of an "attractor" as it used to be.
The general overall average sale price decrease for East Bethel is -24.5% from last February 2008 to this February 2009 based on the statistics published in "The 100" which is distributed by the North Metro Realtor's Association. See the link provided below.
The historical statistics are grouped by county. For Anoka county, the average sale price is -34.79 over the last 3 years (adding up the past 3 years of data -16.2%, -14.16%, -4.43% comes to -34.79%) but that is a general average for all sales in the county. Since you are at the far northern edge of the county, I would expect it to be a little worse in your situation. Those statistics come from the NorthStarMLS which is our local RMLS and are from the February data. Just doing the math based on the county statistics mentioned above and assuming that the original figure of $360,000 was based on the data and correct; that would come out to a market value of $234,756. See the raw data at: http://www.northstarmls.com/statistics/standard/2009/february/sales.pdf
But the best way to find out is to talk to a REALTOR because other factors, such as condition, school district, distance from large employers, proximity to sources of noise or pollution; these could all come into play.
Also, I know it is hard, but try not to let your emotional attachment to your home cloud your point of view. Remember selling your home or estimating the market value should be a business decision and be based solely on the statistics and hard facts relating to the location.
And sometimes the statistics hurt! Sorry to be a killjoy, but I hope this helps you.... more