![]() In high-cost markets-which number about 100 of the 3,000 counties in the U.S., according to the Federal Housing Finance Agency-the change may not make much of a difference. But in a short period of time, this is just another stimulus toward demand and the problem is supply,” Mr. “In the short-term, this will be helpful to people that are priced out. ![]() If more potential buyers enter markets that already have an existing shortage of homes, it will further fuel rising prices. There’s also an ongoing supply issue in the U.S., Mr. More: 230-Year-Old South Carolina Home, Once a Union Civil War Hospital, Lists for $2.65 Million The lower interest rates associated with conforming loans “may make asset prices higher by definition,” he said. That increased demand will likely result in more competition and higher prices, according to Jonathan Miller, the CEO of the New York City-based appraisal firm Miller Samuel and the author of Douglas Elliman’s market reports for a number of top markets in the U.S. ![]() “It’s going to benefit home sellers, as well, because…if you have more buyers, then you’re going to create more demand, which benefits sellers and it stays a seller’s market.” “By increasing the conforming loan limit, I think that it’s going to open up more opportunities for buyers that have been shut out,” said Taso Tsakos, a managing partner at The Agency who is based in the East Bay/Sonoma County office in California. The increased limits mean more home buyers will have access to conventional loans, which typically have lower down payments and interest rates than the jumbo loans available for higher-priced properties. ![]() More: Manhattan Luxury-Home Market Inked a Half-Billion in Deals Last Week ![]()
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