* The economy was teetering on the brink of collapse.

* Real estate values splattered.

* The banking industry took a $700 billion bailout.

* General Motors and Chrysler thought they wouldn't make it through the end of 2008.

* Manufacturing was in the tank.

* The workforce was losing 500,000 jobs a month.

Everything isn't coming up roses, by any means. But the panic, at least, is over.

Consumer confidence is returning, Seattle real estate values have been level for six or seven months now, which is a relief. WaMu and Safeco may be memories, but the banks are starting to repay TARP. The auto industry is struggling, as is Boeing, but they can sing, "I'm Still Here."

We're not exactly partyin' like it's 1999. But there's plenty of good reasons to hope that 2010 will be better than 2009. Here's to the New Year!

Even though prices are down significantly from the peak, they're still worth quite a bit more than they were a decade ago. In Seattle, the median home price is hovering at around $400,000 - compared to $237,500 in 1999.

While that may not seem like such a big gain, consider that the average homebuyer, then as now, typically buys with a five- or ten-percent down payment. So that initial investment, $12,000 down back in 1999, returned about $160,000 or so over ten years, more than ten times the initial investment. (As the AP article points out, that's a one-thousand percent increase!)

Even with 20% down, it's a return that exceeds 250%, 'way better than inflation.

The stock market? Well, in October 1999, the Dow was at 10,649. Yesterday, it closed at 9864. So the ten year gain there was ... negative.

Of course, we don't buy our homes just for the investment potential. Still, for the majority of homeowners who have been able to weather the bad times, real estate ownership has proven to be a pretty good investment. To quote the AP article again, with prices already having fallen so far, buying now could make it an even better one.

Sales of Seattle resale houses have been right around 350 a month from April to June, a downright balmy number compared to the frigid 161 sales in January. A typical January would have had about 450 sales; a typical spring month, 675. So Seattle resale volume is about half of what has been typical from 2000-2007.

Andpeople have begun to spend more for houses: the median sales price in Seattle had dropped back as low as $385,000 in January, and is now at $410,500 - a huge 6.2% increase at a time when the national economy is struggling to get back on its feet.

The national analysts concur, also. The April S&P Case-Shiller Price Index shows that Seattle values were up for the first time in a year, showing 0.23% lift, while the national rate was virtually unchanged at down 0.014%, and First American CoreLogic's Loan Performance Home Price Index reported a 0.5% lift for April.

Regardless of market conditions, home sellers get top dollar when their home is move-in ready, and sell at a discount as the to-do list grows.

The least-expensive activity that pays off the best is to clean. Everything. Kitchens and baths should be spotless - no mold, missing or discolored caulk, rusty or stained sinks or tubs or toilets - spotless. Pristine, even.

Gutters, basements, garage - clean, clean, clean.

If it won't clean, then paint it. If you can't draw a color wheel from memory, stick with neutrals, but paint. Entries, door jambs, places where pictures have hung for a decade. Clean, or paint.

If it's broken, fix it! Light fixtures, switch plates, appliances (well, we never use the back burner), windows or screens or screen doors or whatever - fix it! If you don't fix it, then you've got a "fix-er!"

If you can't clean or fix it, replace it! A dirty stove or bathtub costs more than a new one; maybe that vinyl floor in the kitchen's time is up.

Some things just need to be replaced: old water heaters and gas furnaces will be called by inspectors, and the buyers will get (and trust) bids that are higher than yours. Sometimes, an oven or fridge just won't clean up.

Your home only has one chance to make a good first impression - make sure the paint is in good condition, the gutters and roof are clean, and the walkways are clear. Trees should be carefully pruned; landscaping should be meticulous.

Prospective buyers are looking for reasons to reject your house. To successfully sell - don't give 'em any!