I'm still surprised. Yes, come back to me in two years to see if you can sell your townhouse for $400k.
How accurate are appraisals, by the way? The true test lies in whether you can actually sell at the stated price. My parents own a place in South Florida, and they said the market is dead. No one can sell anything. Not that they are looking to do so. They experienced a big run up in value going into last year, but things have reversed since.