I am a semi-frustrated hopeful buyer/former appraiser/realist that won’t buy at this time because I know that the San Diego market is over-valued. I own property in Southern California, but not in San Diego county. We currently rent because we aren’t interested in something we can afford (too small, crappy neighborhood, awful schools) and are not willing to become the next mortgaged-to-our-teeth fools.
What happens when they get caught being here illegally and are sent back to their native country? Foreclosure? They certainly can’t make more than they make here in their home country, or they wouldn’t be here. How do the the mortgage companies check employment? What if the place of business gets raided? Sounds like a risky loan to me, but aren’t they all these days?
You did not mention if there were any fees for HOA, CFD, mello roose, or other things…how much extra a month are those fools paying just to live there? I know that in Pacific Highlands Ranch nearby there in Carmel Valley, there are not only 1 but 2 HOA’s, CFD and Mello-roose that TOTAL $600 extra a month! What a scam.
