Denial still in my neck of the woods. But the realtwhore advice column in the real estate section of the paper is all about advising people how to buy when they think they have no money.
the number one option is to ask if the seller (who is a long time owner with plenty of equity) is willing to give owner financing… and then of course there is advice to the long time owners with massive amounts of equity encouraging them to consider financing the buyers.
Also, there is advice to sell boats, extra cars etc. to try to come up with the money to buy.
There is also advice to borrow from parents… maybe parents have equity in their house they can HELOC and you can borrow from them.
Also, there is the sales pitch towards all those financing options that will allow you to buy property without putting any of your own skin in the game, and of course what would a sales pitch be without reminding wannabe FBs about the availability of piggy back mortgages to avoid having to come up with down payments.
I take this whole article as nothing more than an effort to beat the bushes for the last remaining hold outs who are under the impression that they can’t afford to buy because the median house price in Sonoma has risen to above ridiculous.
oh how could I forget my favorite part of the advice page… co-signers…ask your relatives to co-sign for you. Right… rope in your relatives into becoming one big FB family!
I can’t believe they didn’t suggest “selling your organs” as well. After all, what’s 1 kidney for a condo in California. Get in before it is too late!