There is hopefully help coming for everyone with 'exotic' mortgages.
As for the value - only time will build appreciation (real estate usually runs in 5-7 year cycles). You could probbly sell it now if you are willing to bring money to the table to settle (OUCH!).
My best advice is to stay there, watch the mortgage industry and what can help you regarding your adjustable mortgage converting to a fixed, let the proerty appreciate and then sell.
Also, invest in the property wisely - make improvements and keep up maintenace