Had they forced repercussions for this then, you wouldn't deal with it now.

A 2 level condo is a different story altogether.But, its better to buy something than nothing, as the debt paydown is at least a forced savings account.  

So, is all this work worth it, being it probably doesn’t force much appreciation?

The west coast markets have traditionally been appreciation markets, and if you are not forced to sell and can hold long term, risk diminishes.

Don't force fit a Value when the return just isn't there.

It can be tedious, but it forces you to really understand your market.

Good conversation, but the driving force will really have to come from you. 

All of these can make a difference.Look for...JOB GROWTH - If there are employers coming to the area, people follow and populations increase.POPULATION GROWTH - What is the driving force behind the growth?

You will see less of a benefit to extending that penalty beyond that, and if rates drop before then you would be forced to pay that penalty to get a lower rate. 

So, instead they used a financial stick to beat state's over the head and force each of them to make a law doing it.