That’s insane! I had a Corvette that I financed $25K on at 0% and my payment was in the neighborhood of $600. I thought that was a ton of money in 2004! I have neighbors who don’t have two nickels to rub together who go out and lease a new car when they get to the point that they need to replace tires because they don’t have the $$$ to buy new tires. This is absolutely insane.
On a different yet related topic, I found a very nice brand new townhome in Redondo Beach up here in LA. Really nicely done Med style, high quality finish materials (granite, travertine, crown molding, etc). It was completed and originally listed in Sep 07 for $859K, now reduced to $829K. Agent claims the seller/builder will refund $$$ to match sales price with last unit sold (i.e buy now for $829K and if the last of the ten units sells for $759K, I would get $70K back). Sounds too good to be true…so we know the adage.
Do you think I’d have a crack at a deal at a $750K offer? it’s blocks from the beach, good schools for LA, etc…
Also, we’re dealing with only being able to put about $100K down, are there still loan products out there to help me without burying me?
