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| User Info | The Bottom is NOW Falling out of Coastal CA Real Estate ; entered at 2012-01-28 11:53:11 | |||
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Eaglewwit Posts: 6054 Registered: 2007-11-30 SoCal 
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Gecko, the high end homes outside of the coastal areas are where the deals are. Coincidentally the government is not underwriting those loans and you most likely will need 20% down to get a loan for them. I am seeing many foreclosed high end homes selling at 1993 values. Now go to a neighborhood were the homes are currently selling for 300-400k and you will see that they are selling for 2003 - 2004 prices, and going up. I have seen homes sell for a clean 100% gain from a 2001 price. It is madness and it is only happening because people can get loan for 3.5% down from the government and the banks are more than happy to do the paperwork for you. 2012-01-28 11:53:11
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