I went to an agent owned open house today. She purchased the home about 8 months ago for a little over 800k and then spent six months upgrading. It is on the market for 1.04M.
She was a font of information: 1) I could get a two year ARM or IO so that my payments wouldn’t be too large. After all, I could just sell it in two years if I ran into trouble 2)There are lot of people in San Diego who are upside down and there are some GREAT deals out there right now. It has never been a better time to buy 3) However, those deals are not in Coronado and never will be in Coronado because prices will NEVER go down here.
Sign me up! After talking to her, I’m just dying to buy a 1,500 sq ft house for over a million dollars!