Did you buy a home in SoCal at the peak of the market? We want to hear from you and learn about this period in your life.
We were looking for a home
We had a job that paid cash and no benefits. The salary was enough for a down payment. I had a $50,000 car and no credit card debt. I was buying a house, using my own money, with no debt because of the job I had.
It began with my husband and I walking across SoCal to see houses that would become our new home.
We had just moved to Sacramento from Seattle for a new job and were looking for a place with a yard and lots of parking. But I had to keep one thing in mind: The $50,000 car I had could be financed in cash, as could the down payment.
I thought the real estate market would be booming at the time – but I was very wrong.
We went to an open house of one of the homes that was available and walked into it. I was a little uncomfortable and sat in the car to read more about the house.
Then the home was gone, along with the price tag attached to it. The realtor came out and I was devastated. She was more sympathetic.
I said, “Your agent knew full well what the home was worth, but thought it would be good for you to stay with it and drive away with a big smile on your face.
“I hope I don’t ever get to experience what it feels like to lose a home. It’s more painful than having to give up a job.”
She said “You did the right thing – it doesn’t seem to happen that often.”
She was wrong. On January 1, 2008, we lost our home for a second time.
What I do know
I know that there are always two sides to every story – we didn’t know either one. Our home was
