[quote=ctr70]DWCAP….It may be a little more than north county coastal, but I wouldn’t be so sure the areas in east county and south county are as much fha/va as you think. There are a gazillion fha/va buyers in those areas too that cannot get an offer accepted b/c they are getting beat out by cash and 20%+ down. I know some well qualified VA people with 800 credit that have literally been trying for 2 years with dozens and dozens of offers!!! Plenty of cash and 20%+ down there too.
Also, the other area I researched all the sold’s in the last 6 weeks in great depth, condo’s in metro san diego, is not North County Coastal. And there were very few fha/va loans on the closed properties the last 6 weeks in this area. Mostly all cash and 20%+ down.
I also noticed that the few fha and va closed sales are going for inflated prices. The few fha/va approved condo’s have so many buyers that want them, they have to bid way above asking to have a chance.[/quote]
Nice way of completly dismissing the entire point. yes, lots of people are buying houses, and considering that fha housing MAX is 679k and the MEDIAN house price in Del Mar was 1050000
Most properties (SFR) dont even qualify for this type of loan.
Go ahead and tell me all about how you know lots of people trying to buy houses and it isnt working cause everyone else has lots and lots of money. I wont disagree. This market is psycho. I just wanted to point out your original post was about a loan product in an area that never utilized that particular loan product.
