California Home Hunting

California Home Hunting – The Millennial Home Buyer

This is a very humorous, and unfortunately very true ( especially here in California)   depiction of a young millennial trying to buy his first home.

I’m sure some might think this is true of our current housing market situation in California . . .  and it is!  but, the overpriced housing market in California has been around for decades!  what’s different now, is the fact that due to a shortage of available, and affordable homes in California the situation has been compounded in the last 2 to 3 years.

The last time I was working with a millennial couple looking for a two-bedroom condominium here in San Diego, it took over a year, and three different offers on properties, before we were able to close escrow on their first home.

Now, keep in mind that my first-time home buyer clients were well qualified for their price range, and with help from their folks were putting 20% down.  Yet it was very frustrating to find a decent property that did not have multiple offers on it within days of its original listing.

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