I run 20 miles a week and ride my bike another 20 to 30 miles a week, and I can see the wave of higher end foreclosures coming. The lawns that once had the for sell signs are dead, and the extra cars, motorhomes, and boats are sold for the lucky ones. The unlucky ones just went through the cycle trying to sell all their toys, and the “bank owned” for sell signs are coming shortly.
I already see those signs in the neighborhoods that sold for 650K to 800K a few years ago, and those homes are listing at 550K and sitting. The 800K plus homes from a few years ago will be owned by the bank shortly. The once 750K – 1M homes in Jamul and Alpine will flood the market in 3 months or so with bank owned signs.
