Sacramento Homes For Sale – News You Can Use
Hi Everyone
This post is about the high end properties for sale in Sacramento. These homes for sale are in the upper end of the market and it is really a sad position to be in. Sacramento homeowners who own homes over 1,000,000 dollar price range might be in worse trouble than the lower priced homes. More that 12 percent of mortgages exceeding $1 million were 90 days or more past due in September, compared to 6.3 percent of loans less than $250,000. The reason for the shortfalls is some of the rich are getting poorer and the poor are staying poor. (Makes sence to me).
The lower end of the scale can HOPE for government help while the larger loans have no hope at all and it is hard for them to get refinancing. So what is worse HOPE (not coming) or no hope at all. It seems to be a wash to me, but what do I know.
The help is in the form of Short Sales (where did we here that before). Anyway there is an increase of short sales in the higher end homes.
This is part of the report I read, believe it or not. I am so sad. It stated a lot of well to do people just can’t afford their second and third vacation homes anymore. I am sorry but I have no sympathy for these people until after the lower end of the real estate market is stabalized then we can worry about them.
Sincerely,
Wes Clark
