> Are those actually closed & owned properties, or just a speculator
> thinking he's still getting a zero down, interest only Alt-A mortgage?
Spec who can afford to lose money each month or in a 1031 or one hoping
for an increase in a flip at some point and can afford it.
> I wonder what the remedy is if this guy can't close on his condo when
> the rental agreement goes into effect? Could be fun trying to squeeze
> him from the other side when the mortgage company surprises him with
> a denial when he goes to close.
I understand that some buyers are "trading up" at N. Beach. Got in
whereever they could, others backed out, so they traded up.
>From what it looks, like JJ says, they $ aren't there to close.
It will be interesting to see how many are investor owned.
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