Breaking the (half-million) buck
This is a tough year for financial institutions. WaMu, Lehman, Merrill, Bear, AIG, Freddie, Fannie, all are in trouble, and some money market funds have broken the buck for the first time ever. Not coincidentally, it seems that the Alameda market is also crossing a threshold: there are quite a few houses priced under half a million dollars on the market right now. Together with tougher lending standards and down payment requirements, this means you can buy a house with an old-school conforming loan under $417,000.
Of course it doesn't mean you should. Prices have a long way to go before they bottom out. But if for some strange reason just just must buy right now, there are some sub-$500K homes to be had.
Individual posts about these homescoming up.
Of course it doesn't mean you should. Prices have a long way to go before they bottom out. But if for some strange reason just just must buy right now, there are some sub-$500K homes to be had.
Individual posts about these homes
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