Congrats! House prices in my neighborhood have dropped about 20% in the past 18 months. Personally, I hope they drop another 20%. I bought at $107,000 in 1999 by 2005 my house was pushing $375,000 - $400,000 (including the remodeling). Last month a similar house, smaller lot, yet to be remodeled (these houses were built in 1950 - 52) went on the market for $289,000. It sold within a couple of weeks, I don't know what they got for it. I'd like to buy a rental but the prices are still too high. Rent would only cover about half the mortgage, I can't afford that big of a difference. I'm actually looking at rentals in the Dallas / South Lake area.
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