As I have decided to just sit on the sidelines now, pulling out of house hunting 100%, I am spending much more time looking at specific sales and purchases in the markets I want to live (Bay Ho, Bay Park, Point Loma, Mission Hills, North Park, etc.). It is absolutely mind boggling the amount of 95% and 100% financed properties. And what is really surprising it that it is not just condos and cheaper first time properties. I have seem numerous $1 mil plus homes with 100% financing. I saw one property in Mission Hills sell for $1.4 mil with 100% financing. That is a $9000/month mortgage payment on top of property taxes etc.