I live in Reno, my first house is not under-water, and my new house that I got by a collective of the greatest concentration of luck and perserverance but also being in the right place at the right time, I can sell for double what I what I paid easily within one weeks time.
That would put you in the evil 33%. That will be the next class warfare group to hate.
I know this, because after bidding closed before I spent a cent restoring it, people were trying to buy it for double what I paid for it. Now it is restored well beyond its original glory. My purchase price was not insignificant, either....the bank F’d up this sale like you wouldn’t believe.
Here is an example of the Reno market. I bought a house in Jan. 2002 for $226k. At the peak I could have probably gotten $410k. I sold in the spring of 2008 for $320k. Today on zillow it is worth $160k.