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It might have. And it has nothing to do with your views, lower inventory or our wonderful warm weather. It has everything to do with a major new housing loan rule change.
Since 2009, obtaining a loan on a condo has been nearly impossible. In fact only 6 buildings out of 193 in Palm Beach County are approved by FHA. Most Buyers have rented or bought townhomes / single family homes instead of condos.
This new change allow Buyers to get a loan for condos for the first time in 10 years!
FHA Finance 3.5% down, with flexible credit guidelines, Max loan amount: $356,500
Conventional Finance 3%-5% down on primary, 10% down on secondary and 15% down on investment property. Max loan amount: $484,350
Jumbo Finance with 5% down, up to $2M
Echo Fine Properties has teamed up with the Ryan Brown Team CrossCountry Mortgage (approved for this process) and is ready to investigate if your condo and building qualify.
If so, expect to see a rise in prices with the profound increase in interested Buyers.
Whether you are thinking of selling, or just plain curious you can check your condo’s current resale value in a couple of clicks. This will give you an estimation of your condo’s current resale value. Visit EchoFineProperties.com/homeworth for more info.
For a more in depth analysis that includes a projection due to these loan rules changes we can offer a further and more accurate current value of your home. Feel free to contact Jeff at 561.500.ECHO or email Jeff@EchoFineProperties.com for a complimentary free analysis.
*Loan approvals based on borrower and building qualifications, all programs subject to change without notice.
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July 3, 2020
In PGA National
July 1, 2020
June 29, 2020
In Palm Beach County homes
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Posted on: by Hollie
From PGA National homes to Admiral Cove, you've discovered the top source of comprehensive information on homes in Northern Palm Beach County communities. Jeff Lichtenstein of Illustrated Properties is the top producing real estate agent in these locations. Jeff has sold over 300 homes, more than anyone else since 2001. He caters to the Waterfront, golf & ranch, and luxury communities here. His focus has always been on providing exceptional service, showcasing quality properties and working with quality clientele. Jeff your only choice for a real estate agent in the area if you're looking for the best. Whether you're looking to sell a home in Admiral's cove or buy one of the beautiful PGA National homes, you need to talk to Jeff Lichtenstein.
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