Great question, may be 20 years, may be never is your answer! Stop dreaming, your house was worth $350,000, it is now worth $180,000 to $200,000! The rate at which your property may go back up, will NEVER be as rapid as the ascension of the early 2000 years!
See, the problem is, the banks will NEVER again lend the way they used to, they will NEVER again give no down payments loans to people with bad credit, so, this is how it looks like as of right now, we the information we have at hand:
If the Obama bail out works, it will take 3 to 6 years for the US Real Estate Market to stabilize and go back up. If the Bail outs and Stimulus packages fail ( most likely scenario!) it will take 6 to 10 years to stop the bleading…
From that time on, the markets will likely start going back up, but at a much slower, more regulated and controled pace! So, it may take up to 20 or 30 years for your property to ever be worth as much as it was at the peak of the mark.