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You can't currently sell games on Steam, once the code is redeemed to the account that's it tied to the account. If you buy the game direct from Steam you can request a refund if you're still within certain time limits. You can give friends to access to borrow your steam library as well.
I don't mind the limitation of not being able to sell the games as long as I get them cheap which with Steam is pretty easy, aside from the big Steam sales there's also the indie bundles and various sites selling codes at reduced code. Unlike gaming consoles, Steam isn't tied to particular hardware nor generations so the games keep on being accessible.
John0
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