FHA to bring back a guideline banned in 2010 FHA condo mortgage financing has long been complex and hard to get. The current rules are so restrictive that more than 90% of the nation’s 150,000 condo projects do not qualify for FHA-backed mortgages. But now HUD is simplifying FHA condo mortgage rules. In October 2019, […]
Shifting demographics and the unique housing preferences of Millennials and aging Baby Boomers have driven the condo market to new heights in recent years. With Millennials and aging Baby Boomers preferring a more compact, walkable, town center-oriented lifestyle that is generally found in more densely populated urban centers — where condos are traditionally the primary […]
The Federal Housing Finance Agency announced Tuesday that it is raising the conforming loan limits for Fannie Mae and Freddie Mac to more than $510,000. In most of the U.S., the 2020 maximum conforming loan limit will be raised to $510,400, up from 2019’s level to $484,350. This marks the fourth straight year that the […]
Before you put in an offer on a condo in a building that’s still under development or otherwise non-warrantable, be aware of the financing obstacles you can run into. A condominium is deemed non-warrantable when it doesn’t meet Fannie Mae and Freddie Mac’s mortgage finance criteria. Beyond the homebuyer’s qualifications for financing the purchase loan, […]
We want to make buying a new home and selling an existing one as easy as trading in an old car. Concerned about timing the sale of your current home, and the purchase of your new home and the potential risk of being forced to carry to properties, a double move, or being forced to […]
Homes Available For Sale In Central Ohio Are Decreasing Again There were 3,230 central Ohio homes and condos sold during the month of August which was down 0.6% compared to the same month last year, and 3.1% lower than the month prior. The average price of a home sold in central Ohio year to date […]
Two of the most difficult decisions a homeowner needs to make after deciding to sell their home, and selecting a real estate agent is when to put their home on the market and at what price. Putting too much emphasis on timing as opposed to focusing on determining the appropriate list price for your home […]
Wondering where home prices will head throughout the rest of this year, and in the years ahead? We’ve gathered current data from the industry’s most reliable sources to help answer these important questions and to help you make more informed decisions as it relates to buying and selling in 2019 and beyond. The Home Price […]
In May 2019 the average price of homes sold in Columbus reached a new record of $253,531. That’s 7.8% higher than a year ago and the highest level yet. Although, increased home prices might seem like a deterrent, the drop in mortgage interest rates over the past three months has helped to offset this and […]
It’s no secret that the central Ohio housing market is hot right now. As demand continues to outpace supply, homes and condominiums are selling in record time. During the month of April, homes under $350,000 sold in an average of 26 days, while homes sold between $350,000 and $500,000 took approximately 48 days to sell. […]
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