Kristina, way to go on your homework, but like investments, which is what a home is, unless you are looking to sell. You have not lost anything, unless looking to refi, which there is a loan program where you can go above the appraised value, So don't panic yet, like investments, it is all cyclical.. and yes there is homes selling right now, but as Kristina had said, probably not as many in that price range...

Hi again, Rachnoid.

I did a little research for you. From 2006 - 2008, the average listing price of a home similar to yours was $289,780, with an average sales price of $277,572. So far in 2009, only four homes similar to yours have sold. The average list price was $248,757 with an average sales price of $243,650. Based on these numbers, the market for these homes has gone down roughly 11%.

Of course these numbers will vary depending on condition, subdivision, finishes and age. If you are considering selling, a local agent like myself can do a complete market analysis on your home to let you know the value in the current market. However, if you're just curious or wanting to refinance, you can also always have an appraisal performed.

I hope this helps. If you have anymore questions, please don't hesitate to ask.

Have a great night,
Kristina

One more quick note...

If you're not comfortable posting the information on Trulia, could you e-mail me your subdivision? Also, if you happen to know the square footage of your home, that will help as well. kristina@justduckyhomes.com

Thanks!

Hi Rachnoid,

I'd be glad to do some research for you. I will get back to you with information about your specific type of home this evening.

In the meantine, I'm happy to provide you with an overall picture of the Edwardsville market.

There are 245 new and resale residential properties listed for sale in Edwardsville, Illinois.

The homes for sale range from a low of $29,900 for a two-bedroom handyperson special to $3,000,000 for a luxurious four-bedroom beauty with more than 8,500 square feet of living space. Clearly it's a diverse market with something for everyone. Throwing out the low and the high, the average home in Edwardsville is listed for $271,478 and the median home price (half are priced higher, half are lower) is $220,950. Homes for sale have been on the market an average of 119 days.

Eighty properties are currently under contract with "pending" sales in Edwardsville. Those homes have an average list price of $203,406 and were on the market an average of 157 days.

Since January 1, 2009, 44 residential property sales have closed in Edwardsville. The average listing price for homes that have closed in this time period was $175,357 and the average selling price was $166,808, a list-to-sell ratio of 95 percent. Average days on the market prior to closing -- 141.

Feel free to send me an e-mail if you have any questions. I'll post information about your specific question later this evening.

Thanks for using Trulia Voices, Rachnoid. I'll be in touch soon.

Kristina