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Did We Just Pop a New Housing Bubble???? http://keepyourhomecalifornia.org/programs/principal-reduction/


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2018 Jan 9, 10:16am   23,211 views  76 comments

by Malcolm   ➕follow (0)   💰tip   ignore  

I just saw a TV commercial for a "save your home" California state program offering up to $100,000 to homeowners, to prevent a foreclosure. I have recently decided for myself that prices have reached a new high in my area, but this commercial shook me. Even during the last bubble, there were some loan modifications, but not to the extent of the State paying off mortgage principal. If this is the case, the State is literally offering to pay upside down loans to prevent another meltdown. This is only going to make it even more severe as the scarcer new buyers will be buying housing at State inflated prices.

Unbelievable.http://keepyourhomecalifornia.org/programs/principal-reduction/

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75   Malcolm   2019 Apr 3, 10:14am  

BoomAndBustCycle says
I've seen a fake sales on the low end too. My neighbors home showed up on Zillow last summer as "sold"... for about $100K below market value. They didn't move and a for sale or sold sign was never placed in their yard. I didn't ask they, because I didn't want to invade their privacy.. but i assume it was either a zillow mistake.. or maybe their parents had originally bought the home in their name..and just sold it to them recently at a lower than market rate and it showed up as a sale.

Not sure if you can glean too much evidence from some random sales on zillow.... gotta take the median sales prices.


You are right on most everything you're saying. I would guess your example is an intrafamily transfer of some kind. At the same time, I happened to be researching the latest medians and inventory figures. I was looking for March, but found February. The reason I post particular deals is because someone else asked for specific examples.

So now let's look at the most desirable areas in San Diego's N County area. This search is limited specifically to detached homes. Each and every blue dot is either in pre foreclosure NOD issued, or being auctioned or sold as bank owned.

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