I have a question about your comment on the first mortgage of 740K. The last time we got a mortgage was in 1996 at 110k. We live on one income raising three children, but my DH makes a high income by any measure out there. So, I am still in shock about the mortgages the young buyers and dual incomers will take on. Is 740k a fairly common mortgage amount in San Diego?
It looks like the owner of the above property has, maybe, 130K equity after selling expenses, if they are lucky. Could they even sell it for any less. It just seems everyone has high priced rich looking properites and they are basically broke. I don’t see how people call this getting rich in Ca real estate.
