Julie - My 2 cents...we are near the bottom for most homes in Houghton. The high-end may come down a bit more if the jumbo mortgage money doesn't get straightened out soon (which it appears strides are being made in that direction). The market is slow right now...but starting to show the signs of spring momentum (historically our market always picked up in the spring...the last 5 years were not the norm).
It is a tough time to sell, but very achievable. I've had a number of buyers sniffing around Houghton, so they're out there, just kicking the tires a bit more than in years past. Honestly...I don't think you'll see much appreciation next year...3-4 years from now is a different story...but if you are debating selling this year or next then just know you aren't likely to attain a higher price next year (my opinion).
Houghton rarely has a foreclosure go through so that has very little bearing. True also of job loss...much of that issue is being overstated and hasn't impacted the higher end areas of King County as much. Depending on your price point financing could be an issue. If you are above 650k or so it might be best to wait a little while for some of the stimulus to trickle down into true lending options. New construction starts are near historic lows...and actually inventory is pretty low...so I wouldn't sweat either of those. Hopefully that helps...if you have any other questions feel free to ping me. firstname.lastname@example.org