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The Federal Housing Finance Agency (FHFA) announced the maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac in 2018. In most of the U.S., the 2018 maximum conforming loan limit for one-unit properties will be $453,100, an increase from $424,100 in 2017.  Loans acquired by Fannie Mae and Freddie Mac are commonly called "Conforming Loans". What is Baseline Limit? The Housing and Economic Recovery Act (HERA) requires that the baseline conforming loan limit be adjusted each year for Fannie Mae and Freddie Mac to reflect the change…

When it comes to owning versus renting, we understand there's a lot to consider. For the past decade, people have been consistently renting rather than buying. No one wanted to be caught in a no-win situation after so many homeowners were left holding the bag when the financial crisis hit a few years ago. But there was never anything wrong with owning a piece of property, only the loan structure that was decided upon by banks. Fortunately, the market has seen a recent change. The first quarter of this year showed that more people were buying over renting.…

The majority of purchasers in the United States are still Americans but recently there has been a lot more competition. According to National Association of Realtors recent report, in the time between April 2015 and March 2016, foreign investors purchased $102.6 billion worth of residential property and 214,855 properties. This was a slight decrease from the previous 12 month period where it had been $103.9 billion and 208,947 properties. Who is Purchasing Property? The countries that these investors live in that make up the bulk of the foreign investors include China, Canada, India,…

In April 2017, the median price for single-family, re-sale homes in Santa Clara county climbed to $1.16 million, which is a new all-time high. The median price for condos/townhomes crossed $700,000 which too, is a new all-time high. Median price means half the homes sold for a higher price and half of them sold for lower dollars. Buyers had a double whammy to contend with. Not just the home prices were going up, they were selling like a hot cake. Average days on the market for a listed property to sell has plummetted…