Yesterday Freddie Mac and Fannie Mae announced that for 2007 they are maintaining their loan limits at the 2006 levels. Both will continue to purchase home mortgages up to the following loan limits:
USD$417,000 for mortgages on one-family properties, USD$533,850 for mortgages on two-family properties, USD$645,300 for mortgages on three-family properties, and USD$ 801,950 for mortgages on four-family properties.
- D. Raho, Fidelity Funding -
The old easy model (for pricing a house) is to look at the computer to see what sold last year, and add 5 percent. That model doesn’t work now.
You have to look at what is actually selling in your price range right now. This determines the market. The period of time to look back at now (sales prices of comparable properties, or comps) is 90 days. Anything over three months is not a good comp now.
A home is worth only as much as some one will pay you for it. Today.
The market is going to determine what a home is worth. It’s just that you may not like what the market says.
- S. Baird, President of Baird & Warner Real Estate -
RISmedia article on the state of the housing market:
http://www.rismedia.com/index.php/article/articleview/16802/1/1/
ORLANDO, Fla – Nov. 20, 2006 – In the third quarter 2006, Florida’s housing sector continued to mirror the national trend, showing higher inventory levels of homes available for sale in many markets and a slowdown in sales.
Statewide, sales of single-family existing homes totaled 43,395 during the three-month period, a decrease of 34 percent compared to 65,364 homes sold during the same time a year ago, according to the Florida Association of Realtors®.
- Florida Association of Realtors® 2006 -
US HWY192 & Scott Boulevard
5254 Cane Island Loop #301
3BD/2BA – $312,990
Florida Ideal would like to take this opportunity to welcome you to something ‘new’ in the way of staying in touch with the resort area evolution. What you will discover as time passes will be real time observations from those of us in the field.
From these, you decide…
We hope you enjoy what you see and read, and look forward to having you back often.
... the ‘Florida Ideal Realty Professionals’ …