Glad your friend was able to get $300K out of the house. Things like this happen where someone needs to sell their home, but in the meantime, they’ve had many years of enjoyment–living in a beautiful environment and enjoying their lives. Good luck to your friend.
Many friends and family live in the 92106/92107 zips, and they paid less than $100K for their ocean view homes, as did many who live in those zip codes–since their homes were purchased way before the boom with no HELOC’s.
Should they “need” to sell in the next few years, which is highly unlikely, they’ll still be fine.
