El Cajon Condo Blowout! (-27% in 8 months)

[PCinSD]

[quote=patientlywaiting][quote=pabloesqobar]My friend paid $275k for one on Pierce Street. It was with the help of a silent second with the City of El Cajon, or something. The unit next to him is on the market for $100k. He’s currently looking to rent it out. He can easily afford the payment but it sucks to see a friend take that kind of “loss”.[/quote]

If he got public assistance for the purchase, is he not obligated to reside in the condo or payback the loan?

[/quote]

Technically, yes. But his employer sent him to Russia for a couple of years. The city knows and so far hasn’t taken any action. I think as long as he stays current they will leave him alone. I’m assuming they know that if they demand payment in full he could walk away from the place and leave them hanging.

[PCinSD]

[quote=patientlywaiting][quote=pabloesqobar]My friend paid $275k for one on Pierce Street. It was with the help of a silent second with the City of El Cajon, or something. The unit next to him is on the market for $100k. He’s currently looking to rent it out. He can easily afford the payment but it sucks to see a friend take that kind of “loss”.[/quote]

If he got public assistance for the purchase, is he not obligated to reside in the condo or payback the loan?

[/quote]

Technically, yes. But his employer sent him to Russia for a couple of years. The city knows and so far hasn’t taken any action. I think as long as he stays current they will leave him alone. I’m assuming they know that if they demand payment in full he could walk away from the place and leave them hanging.

[sdrealtor]

Josh
Primo building with killer 92101 location. Great view from multiple parts of the unit and the view is unobstructable (i.e. nothing can go up in front to block it).

You dont get that in Jamul;)

sdr

[sdrealtor]

Josh
Primo building with killer 92101 location. Great view from multiple parts of the unit and the view is unobstructable (i.e. nothing can go up in front to block it).

You dont get that in Jamul;)

sdr

[sdrealtor]

Josh
Primo building with killer 92101 location. Great view from multiple parts of the unit and the view is unobstructable (i.e. nothing can go up in front to block it).

You dont get that in Jamul;)

sdr

[sdrealtor]

Josh
Primo building with killer 92101 location. Great view from multiple parts of the unit and the view is unobstructable (i.e. nothing can go up in front to block it).

You dont get that in Jamul;)

sdr

[sdrealtor]

Josh
Primo building with killer 92101 location. Great view from multiple parts of the unit and the view is unobstructable (i.e. nothing can go up in front to block it).

You dont get that in Jamul;)

sdr

[Aecetia]

620 E Lexington Ave #17
El Cajon, CA 92020
Price: $50,000

http://www.redfin.com/CA/El-Cajon/620-E-Lexington-Ave-92020/unit-17/home/6640426

[Aecetia]

620 E Lexington Ave #17
El Cajon, CA 92020
Price: $50,000

http://www.redfin.com/CA/El-Cajon/620-E-Lexington-Ave-92020/unit-17/home/6640426

[Aecetia]

620 E Lexington Ave #17
El Cajon, CA 92020
Price: $50,000

http://www.redfin.com/CA/El-Cajon/620-E-Lexington-Ave-92020/unit-17/home/6640426

[Aecetia]

620 E Lexington Ave #17
El Cajon, CA 92020
Price: $50,000

http://www.redfin.com/CA/El-Cajon/620-E-Lexington-Ave-92020/unit-17/home/6640426

[Aecetia]

620 E Lexington Ave #17
El Cajon, CA 92020
Price: $50,000

http://www.redfin.com/CA/El-Cajon/620-E-Lexington-Ave-92020/unit-17/home/6640426

[PadreBrian]

Rent on that unit would be about 600 or so. So, that’s double what the mortgage would be….and after business deductions… dirt cheap. Nice.

[PadreBrian]

Rent on that unit would be about 600 or so. So, that’s double what the mortgage would be….and after business deductions… dirt cheap. Nice.

[PadreBrian]

Rent on that unit would be about 600 or so. So, that’s double what the mortgage would be….and after business deductions… dirt cheap. Nice.

[Author]

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