What are you talking about? You get nothing. The price is raised by $50K. You are paying yourself through mortgage balance (interests due to the bank for helping with the connivance).
I think just the fact that people now actually accept the idea that a downturn is possible indicates the shift in the market. This is despite all the BS we are fed by those who close their eyes and plug their ears when someone mentions foreclosure, decline, bubble or correction.
For the last 5-6 years or so people laughed at the idea that home prices would would do anything but go up.
We’re still in the early stages of the downturn. Picture a roller coaster with lead car facing down, but the rear cars still looking at the sky.
Hang in there. I actually believe Carmel Valley will come down because of how built out it is. There are parts of it that are particularly susceptible, that being the condo market. Be patient if that is the part of town you want, and if it is a condo…
.
